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Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations


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Economy News _ Baghdad

China on Sunday offered to sign an agreement on Iraq to contribute to the reconstruction and delivery of aid, while the Iraqi government confirmed that the year 2018 will be a "year of stability" in the liberated areas.

"Secretary-General of the Council of Ministers Mehdi Al-Aalak received Chinese Ambassador to Iraq Chen Wei Qin to see the level of cooperation in the areas of humanitarian relief and stability in the liberated areas," said a statement by the Secretariat General of the Council of Ministers.

"The role of the Iraqi government in eradicating terrorism and the Chinese government's interest in the rehabilitation of schools and universities by providing assistance to improve the educational reality in areas that have suffered the control of terrorist gangs," the Chinese ambassador said.

"The need to coordinate the delivery of aid, contribute to reconstruction, and the possibility of signing an agreement between the parties in this regard," Chen stressed.

For his part, Al-Aalak welcomed the Chinese government's initiative, wishing it "a bigger and more secure role in participating in the Kuwait conference which will be held next year in cooperation with the State of Kuwait and the World Bank and with the broad participation of the countries of the world."

He added that "the Kuwait conference will discuss investment opportunities for the participation of major reconstruction companies after assessing the cost of war damage and the cost of rehabilitation of infrastructure, factories and companies."

He stressed that the year 2018 will be a year to support the stability in the liberated areas, "noting that" the current trend will be towards the completion of quick projects with the low cost of returning the displaced as soon as possible. " 

 

Views 117   Date Added 29/10/2017

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  • yota691 changed the title to Mehdi Al-Alaq met with the Chairman of the Joint Iraqi-British Business Council
 

The Secretary-General of the Council of Ministers Mehdi Al-Alak, Chairman of the British-British Business Council Baroness Amy Nicholson, and a delegation of businessmen and investors met to discuss and discuss the implementation of investment projects and reconstruction in Iraq and efforts to restore stability to the liberated areas after recovery from the tyranny of the terrorist.
The delegation welcomed the visit of the delegation, stressing that it serves Iraq, and hopes to hold other meetings of this kind to support the movement of economy and investment in the country, as the Iraqi government is constantly supporting all efforts to develop all sectors, especially after the elimination of terrorist organizations.
Al Amin pointed out the preparations and discussions between the national team to prepare for the Iraq reconstruction conference which will be held in Kuwait in the presence of concerned parties from Kuwait and the World Bank and the steps of announcing investment opportunities. He called on all companies to participate in the conference in line with the Iraqi government On the principle of transparency in the selection of those companies, adding that it is hoped to hold another conference for investment after the Kuwait Conference to support the reconstruction movement throughout Iraq.
For her part, Baroness blessed Iraq’s efforts to eliminate terrorism and establish lasting peace in the region, pointing out the need for important companies to contribute to restoring the infrastructure of liberated cities.
She pointed out that diplomatic ties are developing trade ties, such as relations with neighboring countries, and the recent Iraqi openness to the countries of the region is the best evidence of the wisdom of political leadership in Iraq.
The Iraqi government is working to open up all investment horizons for giant companies to ensure the quality of work and rebuild and stabilize Iraqi cities and provide the best services to the Iraqi citizen.

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  • 2 weeks later...

CNN. Broadcasting From The Launch Pad While Looking For A Currency With More Firepower !

 

 

 

(by samson)

http://www.alliraqnews.com/mod.....ryid=67972

Secretary of the Council of Ministers: Iraq is ahead of the movement of large investments

 
أمين مجلس الوزراء: العراق مقبل على حركة استثمارات واسعة
 
2017/11/6 22:00

 

Secretary-General of the Council of Ministers Mehdi Al-Alak said that the expectations indicate the country's demand for a movement of large investments in light of the recommendations that will come out of the Kuwait conference to be held early next year.

The Prime Minister Haider Abadi directed the Ministry of Planning to review the standard documents, including international arbitration documents as it represents a key factor in the reassurance of foreign companies and the launch of a huge program to stimulate the private sector and openness to investment in Baghdad and all provinces, "stressing that" the development of the Iraqi economy depends on the development of the sector Special. " 

Chairman of the investment Commission , Sami al - Araji , said the body of his part in the process of expansion to conclude agreements with new countries to realize their aspirations for openness to the global economy and the employment of funds and foreign investment capital, and has become an urgent need to join the e E Convention , signed by 157 
countries.


The workshop, which will be held at the Al-Dhiyafa Palace in Baghdad, will last for two days and discuss within its platform the effect of joining the New York Convention on Foreign Direct Investment and Commercial Arbitration in Iraq, determining the advantages and disadvantages of accession and reviewing the guarantees for attracting investors. Chairman of the Investment Authority, World Bank Group and a number of international experts.
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Chairman of the investment Commission , Sami al - Araji , said the body of his part in the process of expansion to conclude agreements with new countries to realize their aspirations for openness to the global economy and the employment of funds and foreign investment capital, and has become an urgent need to join the e E Convention , signed by 157 
countries.

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  • yota691 changed the title to Secretary of the Council of Ministers: Iraq is ahead of the movement of large investments

Secretary of the Council of Ministers announced Iraq's Iqbal on the movement of large investments

 
 NOVEMBER 7TH, 2017
 
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BAGHDAD - 
The Secretary-General of the Council of Ministers Mehdi Al-Alak said that the expectations indicate the country's turn on the movement of large investments in light of the recommendations that will come out of the Kuwait conference to be held early next year. 
The Prime Minister Haider Abadi directed the Ministry of Planning to review the standard documents, including international arbitration documents as it represents a key factor in the reassurance of foreign companies and the launch of a huge program to stimulate the private sector and openness to investment in Baghdad and all provinces, "stressing that" the development of the Iraqi economy depends on the development of the sector The private". 
For his part, Chairman of the Investment Authority Sami Al-Araji said that the Authority is in the process of expanding agreements with new countries to achieve its aspirations to open up to the global economy and the employment of capital and foreign investment, and the need is urgent to join the Convention signed by 157 countries.
The workshop, which will be held at the Al-Dhiyafa Palace in Baghdad, will last for two days and discuss within its platform the effect of joining the New York Convention on Foreign Direct Investment and Commercial Arbitration in Iraq, determining the advantages and disadvantages of accession and reviewing the guarantees for attracting investors. Chairman of the Investment Authority, World Bank Group and a number of international experts.

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  • yota691 changed the title to Relations: the reconciliation conference and Kuwait are qualitative steps to achieve recovery for Iraq
 
BAGHDAD / The 
Secretary-General of the Council of Ministers Mahdi Al-Alak said on Sunday that the reconciliation conference and Kuwait are qualitative steps to achieve recovery in Iraq, pointing out that the Kuwait conference will be a platform to inform the world of Iraq's achievements.
A statement from his office said, "The relations discussed during his meeting with EU Deputy Head of Mission Thomas Ortega and his delegation, a number of programs and plans for the reality and future of Iraq." 
"The planning is under way and is confirmed by the Iraqi government to restore the social stability before the material through preparing for the reconciliation conference to be held soon in Bartala to include all components and secure an open and comprehensive dialogue to consolidate the pillars of liberation and the achievements of victory achieved by heavy sacrifices." 
He explained that "the Kuwait conference, which is hoped to be held early next year, will be a platform to inform the world of the achievements of Iraq and international organizations working with him, including the European Union, the importance of work and importance in the current and upcoming."
For his part, representatives of the European Union expressed their readiness to provide any assistance to ensure the success of the Kuwait Conference, especially in its preparatory stages of the work to gain the confidence of the international community to go to Iraq as donors or investors.
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The Ministry of Education has announced an agreement with Kuwait Fund for Development to obtain $ 100 million for the construction of new schools in the liberated areas of ISIS.
“The ministry has agreed with Kuwait Fund for Development to obtain this amount to build new schools in liberated areas of ISIS,” said Hassanein Fadel Maala, director general of cultural relations.
He explained that the amount will be allocated to build 74 schools in Baghdad and the provinces to be completed within a period of time does not exceed two years, noting that the ministry is working on closer bilateral relations between Iraq and the region to work on its contribution to the establishment of educational projects in all provinces to fill the shortage in school buildings and work on Compensation of buildings damaged due to terrorist operations that negatively affected the educational process. Maaleh pointed out that the schools will be built according to the latest international designs, which provide students with a school environment to suit their scientific abilities, with the number of classes between 12-18 rows.
He pointed out that “the ministry has completed and opened during the first Kuwaiti grant of $ 59 million, 23 schools, the last of which was during the past two months, and was implemented in two phases, stressing that these grants will contribute to resolving the crisis of dual and tripartite because the schools are large areas and characterized by multiple classrooms designed Modern style and world-class designs.
He added that Kuwait had also allocated 100 million dollars from Kuwait Development Fund to establish health clinics in an emergency program prepared in coordination between Kuwait and Iraq, including the establishment of clinics in eight provinces are the hardest hit by Terrorist operations, as well as the establishment of Caravan schools for the displaced.

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Key: Central measures are of interest to the UN Security Council

   
 

 
 


15/11/2017 12:00 am 

During talks on money laundering and terrorist financing  
Baghdad / Tarek Al-Araji 
 Efforts exerted by the Central Bank of Iraq to communicate with major international economic organizations, particularly the Bank and the International Monetary Fund to review the joint programs and the organization of the Iraqi financial sector and the extent of progress achieved. Governor of the Central Bank of Iraq Ali al-Alaq said in an interview with "Sabah" said: "Iraq asked the IMF and the World Bank and specialized international organizations to support the organization of donors conference in Kuwait,

 

 As well as assisting Iraq in alleviating the problem of correspondent banks, revealing the bank's completion of the "national strategy to combat money laundering to finance terrorism" which will soon be transferred to the Council of Ministers for approval. "The  quarterly meeting noted that the visit to Washington and New York was for talks with the International Monetary Fund and participation In the quarterly meeting between the Fund and the countries that Iraq has among them, having programs with the Fund in force, having a 7-year program, began in 2016, there is a periodic review of the program's progress and focus and discussions on the 2018 budget.




He pointed out that the International Monetary Fund would prefer the budget to be prepared according to the program agreed upon, and that there be ceilings for public debt, deficit and operating expenses while maintaining expenses of a social, health and security, such as health care and salaries. For these sectors ". Reduce the deficit and noted that " the discussions that took place in the Jordanian capital Amman earlier, addressed the first draft of the budget in which large deficits, and since then the government has worked under the guidance of the Prime Minister to reduce the deficit and unnecessary expenses and tried to increase local revenues and the goal of the program to reduce the deficit Between domestic revenues and domestic expenditures so that the country is not always exposed to the risks of fluctuations in oil prices and that there is a kind of safety valve at the very least.
 


He pointed out that "the visit of the United States of America included a number of meetings, the most important meeting of the governors of banks with the Director General of the International Monetary Fund, and explained in our speech the operation of the program with the Fund and asked for more flexibility and understanding in some of the requirements and conditions, based on the circumstances of Iraq, The conference of donors in Kuwait, as well as helping Iraq to ease the problem of correspondent banks abroad and there were side meetings with the governors of several central banks.  Money laundering



"The lecture was held at the Institute for Near East Strategic Studies, which dealt with clarifying the economic and financial situation and the procedures of the Central Bank regarding the issue of money laundering and terrorism financing. The Council had an impression on the previous reports submitted by the Central Bank of companies listed in the list The international community by a vote in the Security Council, these cases were the subject of interest by the Security Council, especially that it was coordinated with other countries and  
was considered a successful model of international cooperation.
Al-Aalak said: "A presentation was made on the procedures of the Central Bank and the steps taken during the last three years regarding this issue in all its dimensions. Also, copies of the national strategy for combating money laundering and terrorist financing were distributed, which ended the bank and are considered important strategies. To the Council of Ministers soon, but we distributed models there and offered to the members were welcomed and attention, especially as the strategy was based on consultations with organizations with international experience on this subject at all stages. Three billion



And on the opinion of the International Monetary Fund budget said: "The IMF is intended to be deficit in the federal budget of Iraq for the year 2018 does not exceed 15 trillion dinars and this is what we seek and I think we implicit this figure in the budget, as the price of a barrel of oil up to $ 43 dollars and the same quantities export In the budget of 2017, "noting that" the International Monetary Fund after the completion of the budget and some other simple requirements will be the beginning of next December to the meeting of its Board of recommendations and if the report is positive and in line with the program will be launched other payments and start the payment before the end of the year And the current rate of $ 150 million from the International Monetary Fund and approximately one billion dollars from the World Bank and other amounts of the seven industrialized countries to reach combined amounts to approximately 3 billion end of this year. " Applications to establish



"The absence of applications to establish commercial banks and requests specific to the establishment of Islamic banks, because they benefit from the law, which was legislated by the House of Representatives, which granted facilities to establish these banks, because it made its capital 100 billion dinars instead of 250 billion dinars and then raised to 250 Within three years and this encouraged many to apply for the establishment of these banks with the central bank's reservation on the amount of capital, because he has a view that the capital is not determined by law, but is determined in accordance with the circumstances and requirements. 
 He said that the Central has a lot of the establishment of Islamic banks requests, but the bank 's board at its previous meeting realized that this number can not be added to the banks because it is above the energy and the potential of the existing market, and therefore asked for more study  
on the subject until the final decision. " Merger of banks 



Regarding commercial banks, he pointed out that "the number of large and the future will see the integration of these banks, as happened in all countries of the world, starting with a large number and then ends with a specific number, but they are large banks, stressing that" the Central can not push and force banks to integrate but in practice and practical experience will adopt In the future merge and reduce the number. "
He stressed the existence of directions to the Central Bank to open a branch in Erbil or Sulaymaniyah and conducted a year ago meetings with the government, provided that this branch has the authority to carry out its oversight, supervisory and financing role for the banking sector and financial institutions and procedures related to combating money laundering and terrorism financing and approved the region months ago after clarifying the dimensions and risks that The presence of a part of Iraq is not subject to censorship, which causes external problems and regulatory for this sector within the region and we have reached this agreement has been signed in this regard and has already been working on the opening of a branch in Erbil as a first step and with the events that took place and repelled The decision of the House of Representatives to stop financial transactions and the sale of foreign currency to the region carried out bank transfers and the decision of the province parked. " Branches of the central 



He pointed out that "the Central Bank takes its decisions independently, but takes into consideration the circumstances and procedures exist and hope that things will return and overcome the crisis, and we are currently stressing the need to return the central bank to Mosul, because it has a banking sector and many exchange companies along with business and salaries, "The plan of the Central Bank includes the opening of a branch of the central bank in the Middle Euphrates, and it was agreed to be in Najaf province," he said.

 

http://www.alsabaah.iq/ArticleShow.aspx?ID=147501

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Key: Central measures are of interest to the UN Security Council

   
 

 
 


15/11/2017 12:00 am 

During talks on money laundering and terrorist financing  
Baghdad / Tarek Al-Araji 
 Efforts exerted by the Central Bank of Iraq to communicate with major international economic organizations, particularly the Bank and the International Monetary Fund to review the joint programs and the organization of the Iraqi financial sector and the extent of progress achieved. Governor of the Central Bank of Iraq Ali al-Alaq said in an interview with "Sabah" said: "Iraq asked the IMF and the World Bank and specialized international organizations to support the organization of donors conference in Kuwait,

 

 As well as to help Iraq ease the problem of correspondent banks, revealing the bank's completion of the "National Strategy for Combating Money Laundering to finance terrorism" which will soon be transferred to the Council of Ministers for approval. "The  quarterly meeting noted that the visit to Washington and New York was for discussions with the International Monetary Fund and participation In the quarterly meeting between the Fund and the countries that Iraq has among them, having programs with the Fund in force, having a 7-year program, began in 2016, there is a periodic review of the program's progress and focus and discussions on the 2018 budget.




He pointed out that the International Monetary Fund would prefer the budget to be prepared according to the program agreed upon, and that there be ceilings for public debt, deficit and operating expenses while maintaining expenses of a social, health and security, such as health care and salaries. For these sectors ". Reduce the deficit and noted that " the discussions that took place in the Jordanian capital Amman earlier, addressed the first draft of the budget in which large deficits, and since then the government has worked under the guidance of the Prime Minister to reduce the deficit and unnecessary expenses and tried to increase local revenues and the goal of the program to reduce the deficit Between domestic revenues and domestic expenditures so that the country is not always exposed to the risks of fluctuations in oil prices and that there is a kind of safety valve at the very least.
 


He pointed out that "the visit of the United States of America included a number of meetings, the most important meeting of the governors of banks with the Director General of the International Monetary Fund, and explained in our speech the operation of the program with the Fund and asked for more flexibility and understanding in some of the requirements and conditions, based on the circumstances of Iraq, The conference of donors in Kuwait, as well as helping Iraq to ease the problem of correspondent banks abroad and there were side meetings with the governors of several central banks.  Money laundering



"The lecture was held at the Institute for Near East Strategic Studies, which dealt with clarifying the economic and financial situation and the procedures of the Central Bank regarding the issue of money laundering and terrorism financing. The Council had an impression on the previous reports submitted by the Central Bank of companies listed in the list The international community by a vote in the Security Council, these cases were the subject of interest by the Security Council, especially that it was coordinated with other countries and  
was considered a successful model of international cooperation.
Al-Alak said: "A presentation was made on the procedures of the Central Bank and the steps taken during the last three years regarding this issue in all its dimensions. Also, copies of the National Strategy for Combating Money Laundering and Terrorism Financing were distributed which the bank has completed and is considered an important strategy. To the Council of Ministers soon, but we distributed models there and offered to the members were welcomed and attention, especially as the strategy was based on consultations with organizations with international experience on this subject at all stages. Three billion



And on the opinion of the International Monetary Fund budget said: "The IMF is intended to be deficit in the federal budget of Iraq for the year 2018 does not exceed 15 trillion dinars and this is what we seek and I think we implicit this figure in the budget, as the price of a barrel of oil up to $ 43 dollars and the same quantities export In the budget of 2017, "noting that" the International Monetary Fund after the completion of the budget and some other simple requirements will be the beginning of next December to the meeting of its Board of recommendations and if the report is positive and in line with the program will be launched other payments and start the payment before the end of the year And the current rate of $ 150 million from the International Monetary Fund and approximately one billion dollars from the World Bank and other amounts of the seven industrialized countries to reach combined amounts to approximately 3 billion end of this year. " Applications to establish



"The absence of applications to establish commercial banks and requests specific to the establishment of Islamic banks, because they benefit from the law, which was legislated by the House of Representatives, which granted facilities to establish these banks, because it made its capital 100 billion dinars instead of 250 billion dinars and then raised to 250 Within three years and this encouraged many to apply for the establishment of these banks with the central bank's reservation on the amount of capital, because he has a view that the capital is not determined by law, but is determined in accordance with the circumstances and requirements. 
 He said that the Central has a lot of the establishment of Islamic banks requests, but the bank 's board at its previous meeting realized that this number can not be added to the banks because it is above the energy and the potential of the existing market, and therefore asked for more study  
on the subject until the final decision. " Merger of banks 



Regarding commercial banks, he pointed out that "the number of large and the future will see the integration of these banks, as happened in all countries of the world, starting with a large number and then ends with a specific number, but they are large banks, stressing that" the Central can not push and force banks to integrate but in practice and practical experience will adopt In the future merge and reduce the number. "
He stressed the existence of directions to the Central Bank to open a branch in Erbil or Sulaymaniyah and conducted a year ago meetings with the government, provided that this branch has the authority to carry out its oversight, supervisory and financing role for the banking sector and financial institutions and procedures related to combating money laundering and terrorism financing and approved the region months ago after clarifying the dimensions and risks that The presence of a part of Iraq is not subject to censorship, which causes external problems and regulatory for this sector within the region and we have reached this agreement has been signed in this regard and has already been working on the opening of a branch in Erbil as a first step and with the events that took place and repelled The decision of the House of Representatives to stop financial transactions and the sale of foreign currency to the region carried out bank transfers and the decision of the province parked. " Branches of the central 



He pointed out that "the Central Bank takes its decisions independently, but takes into consideration the circumstances and procedures exist and hope that things will return and overcome the crisis, and we are currently stressing the need to return the central bank to Mosul, because it has a banking sector and many exchange companies along with business and salaries, "The plan of the Central Bank includes the opening of a branch of the central bank in the Middle Euphrates, and it was agreed to be in the province of Najaf," he said.

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  • yota691 changed the title to The government outlines the donor conference in Kuwait
Editorial Date: 2017/11/16 12:02 • 204 times read
The government outlines the donor conference in Kuwait
{Baghdad: Al-Furat News} The government explained the donors conference to be held in Kuwait in early March.
The Secretary-General of the Council of Ministers Mahdi Al-Alaq chaired a meeting to discuss the survey, inventory and assessment of the damage to economic activities in liberated areas, in the presence of the Director General of Technical Affairs in the Central Statistical Organization Qusay Abdul-Fattah and the World Bank team And representatives from the ministries concerned. " 
"Iraq is freeing most of its territory and there is a need to build serious steps for reconstruction," he said, adding that "preparations for the conference will be hosted by the State of Kuwait early next year, which will be different from other donor conferences because it aims to build the pillar of the Iraqi economy Not just grants and loans. "
Al-Aalik praised the efforts exerted by the members of the Central Statistical Organization in the Ministry of Planning and the directorates of statistics in the governorates in coordination with the concerned ministries to prepare a survey of the damage of the infrastructure of the liberated areas. 
For his part, Abdul Fattah said that the results of this survey and preliminary estimates of the damage in this meeting will be presented to the World Bank team by the ministries and sectors concerned, and will hold another meeting tomorrow to complete the presentation of results. " 
Deputy Foreign Minister Khalid Al-Jarallah on August 1, Said that his country has started contacts with the countries of the world and the World Bank and the Republic of Iraq to prepare to host a donors conference for the reconstruction of liberated areas of Iraq.
"There is no date for the conference, but it is likely to be in the first quarter of next year," Jarallah told reporters on the sidelines of a ceremony at the Iraqi embassy in the country to liberate Mosul. 
The Iraqi government has estimated the cost of infrastructure damage due to the war on a spike of more than $ 100 billion
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Is scheduled tomorrow in Kuwait to discuss arrangements for a conference of donor countries for the reconstruction of Iraq

 

 Since 2017-11-19 at 09:26 (Baghdad time)

1q.jpg

Follow - Mawazine News

Mawazine News said on Sunday that President Fuad Masum will start an official visit to the State of Kuwait at the head of a ministerial delegation on Monday in a visit which is the first of its kind in about a decade, indicating that the talks will focus on the arrangements of the Kuwait Conference of donor countries for the reconstruction of liberated areas .

"President Fuad Masum will leave Kuwait on Monday for an official visit at the head of a high-level ministerial delegation at the official invitation of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah," an informed source said.

He added that "Masoum will discuss a number of issues during meetings and the accompanying ministerial delegation with the Emir of Kuwait and the Prime Minister and a number of senior officials." The talks will focus on the donor conference for the reconstruction of liberated areas to be held in Kuwait next February.

The source said that "Interior Minister Qassim al-Araji and transport Kazem Al-Hamami as well as the Chairman of the Investment Sami Al-Araji and a number of agents and advisers will accompany the infallible in his visit."

This is the second visit of an Iraqi president to Kuwait since 1990 after the visit of late President Jalal Talabani in 2008 

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  • yota691 changed the title to Masoom: We appreciate the hosting of the Conference on Iraq Reconstruction Iraq .. We will discuss the file of compensation
Called on Kuwaiti companies to play a bigger role in many fields of investment in his country
 
2017/11/19    01:50 PM

 

Masoom: We appreciate the hosting of the Conference on Iraq Reconstruction Iraq .. We will discuss the file of compensation
 
 

 

 

 
KUWAIT: Iraqi President Fuad Masum paid a visit to Kuwait on Sunday to pay tribute to Kuwait for the reconstruction of liberated areas of Iraq, and he thanked Kuwait for hosting the donor conference for the reconstruction of these areas scheduled for next year. 

This came in an exclusive interview conducted by the Iraqi president on the occasion of his visit to Kuwait on Monday during which he will hold official talks with His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah. 

"We attach great importance to this conference and thank the State of Kuwait for sponsoring it," President Masoum said, stressing that the conference "is very important to help Iraq." 

"Today we can not predict the size of what Iraq will get, but we are optimistic about the atmosphere surrounding the conference and because it will be in Kuwait," Masoum said.

He called on Kuwaiti companies to play a greater role in many of the investment fields available in Iraq, including large projects in the reconstruction of damaged infrastructure in the country. 

He stressed that his country will grant the Kuwaiti investor priority, advising that it be dealing directly with the relevant ministries and the concerned parties, especially after Iraq has completed its daily field war with the organization of calling the terrorist and improving the security situation in the country. 

The Iraqi president's visit to Kuwait tomorrow is the second Iraqi president since 1990 after the visit of the late Iraqi President Jalal Talabani in 2008. 

On the other hand, Masoum said that the two sides will discuss during the visit the file of Kuwaiti compensation owed by his country in light of the difficult economic situation in Iraq, especially war Against a hasty organization since 2014.

"The economic situation in Iraq is difficult now, but that does not mean giving up all the obligations of Baghdad, but we want to reach an understanding on postponing payment of compensation for another year without interest." 

The Iraqi president hailed the efforts of His Highness the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah to heal the Gulf rift and wished it success. 

During the visit, Masoum will lead a large ministerial delegation to discuss issues of mutual concern and discuss ways to strengthen fraternal relations between the two countries. 

Masoum described the one-day visit as "mission", saying that he would meet HH the Amir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.

On the level of Arab-Iraqi relations in general and Iraqi-Gulf in particular, Masoum stressed that "Iraq today is different from what it was before 2003 and that his country is keen to build good relations with all the neighboring countries and other Arab extension countries." He noted infallible development of Iraqi-Saudi relations Stressing at the same time his country's keenness to build a good relationship with the Kingdom. 

He added that Iraq is always seeking to develop direct relations with the neighboring countries who have provided support and support to Iraq in its war against the so-called organization calling the terrorist. 

He stressed that any rapprochement with the Gulf states would not be subject to or restricted by Iraq's other relations, referring to Iraqi-Iranian relations. 

On the crisis in the Kurdistan region of Iraq, said infallible «The two sides agreed to abide by the Constitution and since the Federal Court saw that this referendum was not constitutional but violates the Constitution, then the subject has ended».

He stressed that the two sides are currently engaged in what he called a peaceful dialogue to resolve all existing problems, including many of the border crossings, noting that the two sides insist on the need to end the problems between them and that «optimistic about resolving the crisis». 

As for the lack of a delegation from the provincial government to Baghdad to start direct bilateral talks so far, Masoum said: "The two sides do not have the desire to come to Baghdad a large delegation at the present time because the negotiations may be delayed here or there, it is understood that they failed and did not reach an agreement . 

He stressed that they are currently working in quiet practical steps and there are meetings between technical and professional delegations to culminate in the arrival of the Kurdish political government delegation to Baghdad. 

Regarding Article 140 of the Iraqi constitution, which defines the fate of the province of Kirkuk, he said: "It is a constitutional article and can not be statute of limitations, but it is fundamental and existing and it is necessary to reach a radical solution to the problem of Kirkuk."

He said that the disruption of local elections inside Kirkuk over the past years under the pretext of the existence of privacy of the province is what exacerbated the problems and the crisis in the province. 

He revealed that Baghdad and Erbil and officials in Kirkuk itself are currently working on reaching common solutions, likely to take one month from now before the establishment of the matter completely in the province and the return of the provincial council to convene and the election of a new governor to replace her conservative article. 

With regard to the legislative elections planned for next May and fears of possible postponement, Masoum said that as president of the country is fully committed to the Iraqi constitution and the holding of elections on time. 

"The postponement of the elections means opening the door to taking other unconstitutional steps to deal with this wrong step," he said, stressing the need to hold the elections on time and the cooperation of all parties and political forces in taking this step.

"Most of them work in Iraq as advisers and some of them will return to their countries after the war, but some of them will remain in Iraq for the purpose of training the army, security and police," Masoum said. 

He added that those who came for the purposes of fighting urging the «air forces and others will return to their country, the advisers will stay because Iraq needs them in the next stage».
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Iraqi president arrives in Kuwait tomorrow

 
Sunday - 1 month Spring I 1439 H - 19 November 2017 m
 
 
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Iraqi President Fuad Masum (AFP)
Kuwait: Middle East Online
Iraqi President Fuad Masum will arrive in Kuwait on Monday for an official visit during which he will hold talks with Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, KUNA reported. 
The Iraqi presidency announced in September that the infallible received an official invitation from the Amir of Kuwait to visit his country, and that the Emir of Kuwait, in the invitation to «the importance of this visit, which will represent a new opportunity to develop relations between the two countries».
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President Fuad Masoum

Economy News Baghdad:

 

The President of the Republic, Fuad Masum, that Iraq will give the Kuwaiti investor priority in the implementation of projects.

 

In a press interview with Kuwait News Agency (KUNA), Masoum said, "We appreciate the interest of the State of Kuwait in the reconstruction of the liberated areas of Iraq, which is called the organization of a preacher." He thanked Kuwait for hosting the donors' Contract early next year. "

 

"We attach great importance to this conference and thank the State of Kuwait for sponsoring it," he said, stressing that the conference "is very important to help Iraq."

 

He pointed out that "we can not predict today the size of what will happen to Iraq, but we are optimistic about the surrounding environment that paves the way for the conference and because it will be in the State of Kuwait."

 

He called on Kuwaiti companies to play a greater role in many of the investment fields available in Iraq, including large projects in the reconstruction of damaged infrastructure in the country.

 

He stressed that his country will grant the Kuwaiti investor priority, advising that it be dealing directly with the relevant ministries and the concerned parties, especially after Iraq has completed its daily field war with the organization of calling the terrorist and improving the security situation in the country.

 

Views 57   Date Added 19/11/2017

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Iraq excited about the donors' conference and thanks Kuwait

Iraq is excited about the donor conference and thanks Kuwait

 

Twilight News   

 3 hours ago

 

Iraqi President Fuad Masoum will visit Kuwait on Monday for official talks with Kuwait's Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.

In an interview with Kuwait's official KUNA news agency, Masoum praised Kuwait's role in the reconstruction of Iraqi areas liberated from the terrorist organization Da'ash. He thanked Kuwait for hosting the donor conference to be held early next year.

"This conference is very important, it is very important to help Iraq," he said.

"We can not predict the size of Iraq, but we are optimistic about the atmosphere surrounding the conference and because it will be in the State of Kuwait," he said, calling on Kuwaiti companies to play a bigger role in many investment fields available in Iraq, Damaged infrastructure in the country.

Masoum pointed out that during the visit, he will discuss the issue of Kuwait's compensations owed by his country in light of the difficult economic situation in Iraq, especially his war against the organization of "da'ash" since 2014, pointing out that the difficult economic situation experienced by Iraq does not mean giving up all Obligations of Baghdad.

During the visit, Masoum will lead a senior ministerial delegation to discuss issues of common interest and discuss means of enhancing bilateral relations between the two countries.

The visit of the Iraqi president to Kuwait tomorrow is the second Iraqi president since 1990 after the visit of Iraqi President Jalal Talabani in 2008.

 

Keywords:

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2 hours ago, yota691 said:

Kuwait's compensations owed by his country

 

 

Didn't they make some kind of deal regarding oil?  I seem to remember them going back and forth making

offers and countering. But then again this is Iraq.  Thank ya Yota.

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6 hours ago, nannab said:

 

 

Didn't they make some kind of deal regarding oil?  I seem to remember them going back and forth making

offers and countering. But then again this is Iraq.  Thank ya Yota.

 

They did actually.

 

The governments of Iraq and Kuwait have had some discussions on few options (to settle the remaining compensations) and it seems they already have an agreed plan (via sales of natural gas).

 

All they need to do now is to finalise that with the UNCC accordingly, which if I'm not mistaken will be held on Nov.21st. 

 

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BAGHDAD / Tomorrow Press: 

Secretary General of the Council of Ministers revealed, Mahdi Keywords, that next year will hold a conference for the reconstruction of the liberated areas in the State of Kuwait with the participation of a number of countries. 

"An international conference is scheduled to be held early next year in Kuwait to reconstruct liberated areas with the participation of a large number of brotherly and friendly countries and giant companies with experience in the field of reconstruction and investment," Alaq said in a statement. Praising "the role of the World Bank in support of this conference".

He added that "one of the most important challenges facing the Iraqi government after the victory over terrorism is the stage of reconstruction and stability of liberated cities," stressing that "there are deliberate steps and planned to provide all services to liberated cities, followed by other steps for economic reconstruction and the advancement of all sectors of Iraq and All levels ".

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  • yota691 changed the title to The date of the donor conference in Kuwait
 
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Economy News _ Baghdad

KUWAIT CITY - A conference of donor countries for the reconstruction of liberated areas, to be hosted by Kuwait, will be held from February 8 to 12, a Kuwaiti newspaper reported on Wednesday.

The newspaper "Al-Jarida" quoted a senior Iraqi source as saying that "the conference of donor countries for the reconstruction of areas liberated from the organization of a preacher in Iraq, which is hosted by Kuwait, will be held from February 8 to 12 next."

President Fuad Masoum said during a press conference in Kuwait yesterday that the conference will be held early next year, and we are optimistic about the atmosphere surrounding it, and that he will be in Kuwait, refusing to talk about the details.

The conference, which started Kuwait with wide contacts with the world and the World Bank for its success, aims to support the efforts of the Iraqi government in the reconstruction of the devastated areas, which was controlled by an organization calling for more than three years, which need about $ 100 billion, according to Baghdad estimates.

 

 

Views 22   Date Added 22/11/2017

 
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  • yota691 changed the title to The date of the donor conference in Kuwait was set

The date of the donor conference in Kuwait was set

By
 rami
 -
November 23, 2017
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A Kuwaiti newspaper revealed Wednesday that the conference of donor countries for the reconstruction of liberated areas, hosted by Kuwait, will be held from 8 to 12 February.
The newspaper “Aljareeda” quoted a senior Iraqi source as saying that “the conference of donor countries for the reconstruction of the liberated areas of the ISIS in Iraq, which is hosted by Kuwait, will be held from February 8 to 12 next.”
During a press conference in Kuwait yesterday, President Fuad Masoum said that the conference will be held early next year, and we are optimistic about the atmosphere surrounding it, and that he will be in Kuwait, refusing to talk about its details.
The conference, which started with extensive contacts with the world and the World Bank for its success, aims to support the efforts of the Iraqi government to rebuild the devastated areas that ISIS controlled for more than three years, which need about $ 100 billion, according to Baghdad estimates.

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Economy News _ Baghdad

 

The Secretary-General of the Council of Ministers Dr. Mahdi Al-Alaq, Sunday, that next year will see a wide opening in the field of investment and absorption of unemployment in Iraq in light of the vision of the Council of Ministers open to investment opportunities. 

The Secretary General of the Council of Ministers held an expanded meeting at the General Secretariat of the Council of Ministers for the national team for the preparation of the Kuwait Conference on Development and Reconstruction of Iraq, Al-Aalak stressed on the study of investment opportunities in all governorates and ministries in accordance with the National Investment Plan Which will be presented during the Kuwait conference to be held early next year 2018.

He added that "the meeting was attended by the head of advisers Abdul Karim al-Faisal and the President of the National Investment Authority Dr. Sami Araji and the deputies of the ministries and a number of governors. The meeting reviewed the unification of visions between the relevant bodies to name the investment projects that Iraq wants to implement and develop to meet the needs of the country in all sectors.

Araji said that "the number of projects to be presented by Iraq during the conference (40) projects that are of interest to international companies and investors." 

 

 

 

Views 22   Date Added 26/11/2017

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  • yota691 changed the title to Al-Basri proposes the establishment of the National Fund for Reconstruction and Development

Al-Basri proposes the establishment of the National Fund for Reconstruction and Development

   
 

 
 


04/12/2017 12:00 AM 

Dr.. Kamal Al-Basri  
The National Fund for  Reconstruction and Development 
The project aims to address in particular the challenges of reconstruction in the affected areas of the occupation of the province, and in general the reconstruction of all the provinces of Iraq, also aims to deal with the reform issues adopted by the government, including fighting corruption and activating transparency financial transactions, In the implementation of projects broken for financial or administrative reasons, and finally gain credibility of Iraq in international financial transactions.
The proposal enables Iraq to deal professionally and efficiently with the assistance and loans provided by international bodies. It will also be supportive of the financial and technical facilities expected to be presented to Iraq at the upcoming Kuwait conference to support reconstruction of the affected areas, although the proposed fund will be cooperative and supportive of government institutions. Ministries and governorates, but it will certainly be far from the impact of political rivalries because of the nature of its system and work controls based on the principles of good governance. 
The proposal was presented as a result of the study of successful international experiences, particularly those that suffered from wars and social unrest. These experiences include the European Bank for Reconstruction and Development, the African Development Bank, the Asian Development Bank and the World Bank.
Currently, there is a supportive international political and financial environment for the conditions of Iraq and ready to support Iraq financially and technically through subsidies and loans. These trends face a challenge that needs to improve financial and banking management, reduce corruption and enhance transparency. 
The existence of the Fund and a new administrative system that lives in the spirit of the times will be a decisive factor in providing support to Iraq, otherwise it will continue to deal with caution and slow and useless. 
The existence of this fund will not be a challenge to the existence of existing financial institutions, as this fund has functions and duties unavailable to the current financial institutions, either because of the nature of laws and procedures or because of lack of technical competencies capable of dealing with international financial institutions. 
For the purpose of clarifying the nature of the proposed work of the Fund we will work to discuss  
• goals  
• Current challenges  
• Addressing the challenges mechanism 
• Suggested funding sources  
• Describe the Fund's specificity in dealing with the reference to the current financial institutions. 
• Proposed work plan 
A. Objectives:  
The main objective is to establish a fund with international specifications and mechanisms to support reconstruction and development for the purpose of:  
• Implementation of investment projects of a strategic nature. 
• Reduce practices that encourage corruption and waste of money.  
• Reduce funding costs for projects that are already high. 
• Creating international financing opportunities at competitive costs. 
• Provide an efficient mechanism for receiving grants for reconstruction purposes. 
• Supporting the orientations of government institutions based on economic feasibility. 
• Provide a mechanism whereby oil revenues are gradually converted from consumption to investment in infrastructure and protection of the economy from the effects of fluctuating oil price.
• Providing financial and technical facilities for the rehabilitation of public sector companies. 
• Supporting projects that work to achieve political stability and employment. 
Second: Current Challenges: 
• Lack of adequate funding has negatively impacted the delay in upgrading development.
• The presence of corruption in financial transactions encouraged the entry of companies that are eligible, which in turn failed to implement some projects and increase the costs of completion of the implementation. 
• Weak financial and legal guarantees that can be provided by the Iraqi financial institutions. 
• The high cost of projects because of the government resort to issuing bonds in foreign markets and usually these bonds are high cost. 
3. Suggested solutions:
Iraq has a pioneering experience in providing financial liquidity for the purpose of reconstruction. In 1951, Iraq established the Reconstruction Council for the purpose of benefiting from oil revenues efficiently in the implementation of reconstruction projects. The financial allocations available to the Council were about 70% of total oil revenues. In the development of Iraq, but the picture now changed a lot later, and if it continued it was no different from the role of the Fund of the State of Norway in support of development and welfare of citizens, it can be considered the proposed fund to try to return to the practice of efficient management of public funds and polarization International financial support that Iraq needs and urgent. 
The reconstruction fund is usually owned and managed by governments, which also set strategic goals and appoint board directors and executives.
The ownership and family members of the Fund vary from state to state. In some countries, government ownership is 100 percent. In other countries, the private sector partnership for the year ranges from 1 percent to 49 percent, and these funds in the world have proved worthy of progress and prosperity. 
In order for the Fund to do its part, we need to: 
• Form a supervisory committee comprising members from international institutions such as the World Bank, European financial institutions and financial institutions of regional or neighboring countries. 
• Forming an administrative board, which includes relevant figures, including government representatives, to draw general directions and monitor public performance. 
• The formation of an executive board to carry out the executive work according to the indicators and policies drawn up. 
• Setting strict controls for the selection of employees and executive managers taking into consideration, competence, practical experience and integrity.
The existence of these formations ensures good performance and adherence to the rules of good governance (transparency, efficiency, exemplified by economic quality, adoption of the rule of law requirements, etc.). 
In addition, it is necessary for the Fund to require all contracts executed for the implementation of projects financed by the Fund to be within international standards (for example, World Bank requirements). The Fund should also undertake to issue periodic bulletins or reports with all its decisions and accounts, . 
Fourth: Financing of the Fund  
There are various ways to fund the Fund including: 
• General budget allocations. 
• Loans from international financial institutions. 
• Internal and external financing through the sale of bonds. 
• Sale of government properties. 
• Funding for oil guarantees.
• From the advisory services that the Fund can do during the provision of financial and technical facilities for private sector partnership projects for the year. 
The Fund provides confidence to the financing bodies and gradually to reduce the risk of lending and investment as a government fund with international controls. The Fund also provides a flexible mechanism to support private PPP projects (the private sector partnership for the year in Iraq) which are almost nonexistent, and the profits achieved by the Fund from the investment of loans and operations Banking can be reinvested in new projects. 
The Fund expects to achieve profits and achieve independence by continuing to work and not rely on the government funding or support, and as long as the fund's return to the government is expected to obtain funding at lower costs, and thus can be implemented projects at low cost, and international experience has shown that the government guarantees of the Fund is Effective mechanism for obtaining loans.
Government support for such institutions in other countries should not be seen as support in the common sense, but rather as a subsidy to the costs of loans that benefit government and other projects that benefit the public and thus positively affect citizens. 
The mechanism of using oil revenues to feed the federal budget, both operational and investment, has led to waste of public money, because the oil revenues by nature are easy to earn (also easy to spend). 
The transfer of investment expenses to the Fund works to achieve a public interest through the controls of spending or investment and away from the negative effects of fluctuation of oil prices, here we propose that gradually turn the annual rate of increase of oil revenues and deposit with the Fund. 
5. Proposals to initiate the establishment of the Fund:
• Obtain the approval of the Prime Minister on the proposal and form a steering committee to manage the steps of incorporation, including the establishment of the structure of the work controls, including the three councils mentioned above. 
• Consultation with international institutions (JAICA, IFC, Chinese Reform Bank, World Bank) on the institutional project and international regulations. 
• Get initial approval from international institutions to support the Fund's project. 
• Prepare a draft law to serve the Fund's objectives and comply with international regulations to prepare the feasibility study for the Fund. 
• Obtain the approval of the Council of Ministers and the Council of Representatives. 
• Establishment of the Executive Council and other proposed councils. 
• Carrying out logistics for headquarters, branches and employment. 
• Contracting with internationally recognized auditing companies, provided that all lending decisions are subject to control before they become effective.
The establishment of the Fund in accordance with the objectives and controls referred to, will open the door to finance the various projects according to the economic feasibility of each project, and opens the door towards the employment of unemployed workers and generate incentives and linkages necessary for the development of different sectors. 
Working on increasing the proportion of funding of the fund increases the revenues of oil revenues annually will make the future fund the only resource for government and other investments, and will avoid the Iraqi economy from the experience of past years of wasting money (spending on investment projects without studies of economic feasibility in the sense required in other words will not be able The allocation of investment resources outside the priorities of the Iraqi government and the economic feasibility of the project only through the substantive conditions stipulated in the approved expenditure controls). 
 There is no doubt that the Fund in this way will also avoid the Iraqi economy from the risk of volatility of the price of oil, and serve as a fund generations.


Complementary Notes 
• International financial institutions can be invited to have a partnership with the Fund up to 25%. 
• Set the operating cost of Bridge Loan to $ 50 million. 
• It is necessary to establish controls on the upper limit of borrowing and interest rate. 
• The Fund should have activities alongside proprietary lending with the private sector to implement strategic projects.
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  • yota691 changed the title to World Bank: Iraq reconstruction conference will be held on February 12 in Kuwait
 
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Director of the World Bank Mission in Iraq Yara Salem «Economy News»

Economy News Baghdad:

The World Bank announced on Monday that the Iraq reconstruction conference will be held next February in Kuwait.

The director of the mission of the World Bank in Iraq, Yara Salem, in an interview with "Economy News", "The Conference on the reconstruction of Iraq will be held in Kuwait during the period 12 - 14 February," indicating that "the number of countries that will participate in the reconstruction of Iraq is not known until Now that the invitations will be directed during the coming period. "

"The reconstruction conference in Iraq will focus on the reconstruction of liberated areas through how to involve the private sector, local, Arab and international to Iraq."

 

 

 

Views 153   Date Added 12/04/2017

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  • yota691 changed the title to Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations
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