During the official visit of the Prime Minister of Iraq to the United States, Mr. Wadee Al Handal, President of the Iraqi Private Banks League and Chairman of Al Handal International Group, signed a strategic Memorandum of Understanding with the Association of Energy Engineers (AEE) in Washington, D.C.

The agreement aims to support the Iraqi banking sector in its transition toward a green economy while contributing to the development of Iraq's energy sector and the modernization of its infrastructure.

This strategic partnership reflects the pivotal role of the Iraqi banking sector in directing financing and policies toward renewable energy projects and sustainable infrastructure. It also represents an important step in activating funding for clean energy and solar projects while strengthening cooperation with international financial institutions, including the European Bank for Reconstruction and Development (EBRD), to help address the challenges of Iraq's national electricity grid and improve its efficiency.

The Memorandum of Understanding also includes initiatives to build institutional and technical capacity, transfer advanced knowledge and technology through internationally accredited professional certifications, and establish a practical framework for providing technical advisory services to ministries, municipalities, and financial institutions.

These efforts will support investment in carbon reduction projects, advance the implementation of ESG principles, and contribute to Iraq's vision for sustainable economic development and long-term energy security.