Iraqi Parliament: Electricity Ministry employees hinder CBI solar energy project

Shafaq News/ On Wednesday, the Iraqi Parliament's Electricity and Energy Committee accused government employees of "hindering" the implementation of the solar energy project initiated by the Central Bank of Iraq (CBI).

Mohammed Al-Abd Rabbo, head of the committee, told Shafaq News that the CBI Initiative project aims to offer citizens loans through banks to support installing solar energy systems, affirming, "Some individuals within the Ministry of Electricity are attempting to obstruct the project for potentially personal reasons or to sabotage it for unknown motives."

"Regrettably, unqualified individuals with no regard for the country's future oppose this project, which seeks to improve Iraq's energy sector,” he added.

Solar Energy Project

In July 2021, the CBI launched an initiative to promote renewable energy, working with the Supreme Lending Committee to integrate solar power into residential investment complexes. By March 2022, the bank issued funding regulations, aligning the project with Iraq's commitment to the Paris Climate Agreement and the shift to clean energy.

However, the Electricity and Energy Committee acknowledged the “failure” of the Central Bank's one trillion dinars ($760 million) initiative, citing complex procedures, lack of cooperation with financial institutions, and poor coordination among the Ministry of Electricity, the CBI, and banks. "The initiative has not achieved its intended success, with only 250 million dinars disbursed to ten borrowers," committee member Kamel Al-Akili told our agency.

Meanwhile, the Green Iraq Observatory held the CBI responsible for undermining the project due to “strict” conditions, calling for revising them to ensure greater success.