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Iraqi development fund in ‘serious talks’ with Saudi Arabia over $3bn deal


Issue 1194 - 22 Nov 2024 | 3 minute read

The Iraq Fund for Development is hoping to nail down a $3bn commitment made by Saudi Arabia’s Public Investment Fund 18 months ago. At the same time, IFD is also holding discussions with the Dubai International Financial Centre over support for domestic tech companies. However, despite an upturn in Iraq’s economic prospects, local entrepreneurs and investors complain that not enough has been done to tackle corruption and bureaucratic inertia.

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