IFC signs on to project to revamp and operate Baghdad’s largest Airport : The International Finance Corporation (IFC) has inked an agreement to become the Iraqi government’s transaction advisor for a public-private partnership (PPP) project to rehabilitate, expand, finance, operate, and maintain Baghdad International Airport, according to a press release. This marks Iraq’s first PPP, and the IFC’s first PPP mandate in the country, the statement said.

What we know about the project: The project aims to harness private sector expertise and capital to develop the airport's facilities, safety and services in line with international standards to improve its global connectivity, according to the statement.

The IFC’s role: The IFC will carry out due diligence and propose a suitable transaction structure based on their findings and a previous feasibility study carried out by the group in 2019. Once that’s done and Iraq approves the project, the government will proceed with the tender stage to attract private investors and operators, according to the release.

A boon for trade: The agreement will enable Iraq to leverage its geographical position, support trade, create jobs, and foster diversification, IFC Regional Director for the Middle East, Pakistan, and Afghanistan Khawaja Aftab Ahmed commented in the release.

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