The U.S. International Development Finance Corporation (DFC) with the Government of Iraq has signed a memorandum of understanding (MOU) strengthening cooperation in support of private sector-led development across Iraq. Through enhanced collaboration with the Government of Iraq, DFC aims to invest US$ 1 billion over four years in private sector projects that promote prosperity and stability across the country.

The MOU signed aims to leverage the collective tools, resources, and expertise of DFC and the Government of Iraq to more proactively and effectively support private sector investment in the country. The two parties will work together to identify, review, and monitor investments.

Through strengthened cooperation, DFC aims to invest US$ 1 billion over four years, with a goal of mobilizing an additional US$ 5 billion from the private sector alongside the agency’s investments. DFC and the Government of Iraq will focus on investments that advance mutual development goals, including investments in energy, financial services, health, housing, and agriculture.