World Bank: Iraq Must Pursue Greener Growth Model

A boy walks on a boat lying on the dried-up bed of a section of Iraq's receding southern marshes of Chibayish in Dhi Qar province, on June 28, 2022. ASAAD NIAZI / AFP

Iraq, a top oil exporter battered by climate change impact, must diversify its economy and pursue a “greener growth model,” the World Bank said Tuesday.

In a new report presented to authorities in Baghdad, the Washington-based institution said $233 billion must be invested by 2040 to allow Iraq to embark “on a green growth path,” equivalent to 6% of the country’s annual GDP.