The Minister of Labor and Social Affairs, Ahmed Al-Asadi, met today, Wednesday, the Director General of the Iranian Rafah Development Bank, which specializes in financing large, medium and small projects.
The Ministry stated in a statement, “The General Manager of Rafah Bank gave a detailed explanation at the meeting about the work of this bank and the companies affiliated to it from various commercial and industrial sectors, as well as opening branches for it in Baghdad that handle the process of providing money for Iranian visitors in Iraq and Iraqi visitors in Iran, and the issuing of a visa card free of charge, and the desire of the bank’s management to cooperate with the Ministry of Labor.
Al-Asadi referred to "the Ministry's experiences in the field of supporting small projects, welcoming the facilitation of cooperation between the bank and the Social Security Fund for workers and investment in large projects that achieve profits for the fund, as well as the work of a real partnership between the Federation of Iraqi Industries and Iranian industrialists to implement joint projects between the two parties."
At the end of the meeting, it was agreed to nominate a liaison representative between the bank and the ministry to follow up on all the agreements that were discussed, and the bank will provide expertise related to debt recovery and guarantees for small projects.
Source: National Iraqi News Agency