The Iraqi Private Banks League signed an MoU with the Association of Energy Engineers to guide green energy project financing, a first step in expanding the private sector's role in power generation.
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The Iraqi Private Banks League (IPBL) signed a memorandum of understanding with the Association of Energy Engineers (AEE) in Washington, D.C., on the sidelines of Prime Minister Mohammed Shia al-Sudani's visit. The agreement aims to support Iraq's banking sector in financing a shift toward a greener economy and strengthening the country's energy infrastructure.
The AEE, a U.S.-based non-profit, will advise Iraqi lenders on technical standards for energy projects. The IPBL, which represents roughly 50 private banks, said the deal opens a channel for evaluating financing for solar plants, efficiency upgrades, and related infrastructure.
The Iraqi government has pushed for more private-sector involvement in power generation. Chronic blackouts remain widespread, and state-owned banks dominate the lending landscape. Private lenders have limited experience underwriting large-scale energy projects.
The MoU does not commit capital. It covers training and certification for energy project evaluation. Both sides said they would form a joint committee to identify pilot projects.
The AEE runs a certified energy manager program with members in more than 100 countries. That program could be extended to Iraqi bank staff. The deal is a first step on the financing side, with no timeline for specific projects.
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