Economy News – Baghdad
On Monday, Prime Minister Mohamed Shi’a Sudani directed the advancement of the third phase of the reconstruction of Al-Rashid Street in Baghdad.
According to a statement from the Prime Minister’s media office, Sudani convened a special meeting focused on the rehabilitation of Al-Rashid Street as part of this project. The meeting included the governor of the Central Bank and representatives from the Iraqi Banking Association, aimed at furthering government initiatives to revitalize the historic city of Baghdad alongside its iconic landmarks, monuments, and streets, underscoring its status as the capital of Iraq.
The statement further elaborated that the meeting addressed the legal and financial mechanisms required to facilitate project execution. A framework was established to ensure the effective transfer of funds from the Central Bank, donor agencies, and state institutions to the designated executing body overseen by the Iraqi Banking Association.
Additionally, the discussion included assessing the types of professions and crafts prevalent in Al-Rashid Street, along with a commitment to collaborate with local business owners in developing ideas that align with the street’s rehabilitated status. A relevant committee was assigned to ensure the completion of this task, which includes exploring alternative solutions.
Sudani emphasized the importance of completing this stage of Al-Rashid Street’s reconstruction promptly and in accordance with established specifications and conditions.
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