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World Bank grants Iraq $ 900 million in the framework of national strategic partnership

yota691

By yota691,
in Iraq & Dinar Related News

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yota691 Grand Master

yota691

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World Bank grants Iraq $ 900 million in the framework of national strategic partnership

10.10.2012 12:00 AM

Projects focus on strengthening the foundations of government departments and support economic diversification and sustainable development

BAGHDAD - Haider Flaih spring - just Hammoud

said the World Bank near launch program (strategic national partnership with Iraq), which aims according ممثلته in Baghdad Maria Helen to strengthen the rules of government institutions to improve their ability to manage financial resources, and strengthening and diversifying the economy and sustainable development, as well as to revive and develop basic services and social protection network, pointing out that the World Bank's intention to establish the strategy for conviction full recovery Iraq and out of the crises encountered during the past years, and with criticized Helen economic laws in Iraq and that she (frustrating and unattractive for investment), called on the government to (undo) a little and make way for the private sector to take its role and achieve growth rates being able to contribute to the development and construction of the country, stressing that all financial allocations by the state to eliminate unemployment will not achieve its goals without reviving private sector, which said that he could absorb the unemployed and rates equivalent ratios operating government, revealing embark Bank has established a court economical in Basra aimed at resolving conflicts that exist between private investment companies, domestic or foreign, and between government agencies. size Bank projects and said Helen during extensive dialogue that was conducted with the (morning) increase in the value of projects implemented by the Bank in Iraq, which reached up to the middle of this year 41 projects one billion dollars have been implemented in the general throughout the country, has allocated funds these projects by many donors who put money quite in fund called the (fund the reconstruction of Iraq), as well as other funds came through the development and international development work on the granting of financial assistance to countries seeking to modernize its infrastructure affected by wars and crises. pointing to the existence of another kind of money provided to Iraq form (grants) will not be returned totaling nearly one billion dollars and allocated as a result of the exceptional circumstances experienced by Iraq, where funded these amounts projects very important, including capacity building, and to provide educational sector approaches modern scientific and development sectors of health and service, water and sewer and private sector support . drew Helen to the World Bank, in cooperation with the Iraqi government seeks through a number of projects and programs crafted to eradicate poverty, and to try to reduce Fjute which confirmed its expansion in the past years between the many segments of society, as well as technical support last extended by the bank to Iraq in the electricity sector , especially through his help in the construction of station Hartha in Basra province. adding that the bank is working to support Iraq financially in many cases that can form an imbalance in the general budget, where the oldest to give the country nearly $ 250 million in 2009 after a drop in oil prices and the decline revenues the country's financial during the global crisis that hit many countries at the time. strategic partnership with Iraq and announced the World Bank representative in Baghdad also start implementing strategic national partnership with Iraq and that will continue for four years starts next year and ends in 2016, asserting that those strategic to be introduced ( International Bank for Reconstruction and Development) is the first with Iraq, and will be held in the time frame average, which demonstrate the content that Iraq could overcome all crises experienced by over the past years, and started actually moving to the stage of reconstruction and development, and this allowed the bank to the implementation of this strategy that will determine many of the areas that sees (the Bank) need to develop and work on its recovery, especially that these strategic operating in parallel with national development plans initiated by Iraq applied correctly during the past two years and is still going out. said Helen that strategy will take into account the implementation of three important points in the promotion of economic reality and developmental and operational in Iraq, where a first point in the strategy to strengthen the foundations of government institutions and improve their ability to manage financial resources, while the second point will support and diversify the economy and sustainable development, and will focus the final point on the development of basic services and social protection network. 900 million dollars worth of projects and in response to a question (morning) on the financial value of which was devoted to the strategy showed Helen that the total projects to be financed estimated total value of approximately $ 900 million she can be increased, provided Iraq's implementation of all its obligations in the implementation of projects, pointing to the bank return working with Iraq to provide a number of factors necessary to apply all plans strategy optimally, particularly in regard to improving the transparency issue in revenues of oil derivatives, and this can be done smoothly through some of the options offered by the Bank of Iraq. explained further that Bank did not stop at certain limits in the process of supporting Iraq, and that the question of the application of strategic partnership does not mean that the bank will not support other areas only what has been coverage in that strategy, confirmed the allocation of $ 200 million before short times (which is part of the amount allocated in the partnership strategy between Iraq and the World Bank) for the Ministry of Construction and Housing, which demanded support the bank in the process of implementation of the highway number one, indicating the existence of efforts significantly with the bank to persuade a number of other donors in the implementation of projects strategy in Iraq, including support Fund and Development Arab. has hinted Helen to the bank strives to fund projects that could contribute to reviving the national economy fully in Iraq, particularly agricultural and industrial projects and irrigation projects, as well as his efforts in the development of some other services كالمجاري and water. loitering implementation of projects and aware of many of those concerned with Alaguettsada that a group of projects that have been funded by the World Bank did not accomplish fully yet, despite the passage of a long time to begin implementation, and sees Helen that the reasons that date back to the inability of entering Bank teams to Iraq, who were forced to hold their meetings in neighboring countries, as well as other reasons related Ptoukitat implementation started in Azman lived through Iraq times unstable hampered the implementation of several strategic projects task. gave Helen also blamed some government measures routine that she (it's monotonous and caused blocking the implementation of many projects), pointing to among the projects that caused the government measures not implemented are construction projects schools that have been in collaboration with the Ministry of Education, is that non-allocation of land for construction hampered the implementation process optimally, as well as other projects for electricity and infrastructure services that contributed to unstable situation in Iraq years ago not implemented optimally. however, Helen has made ​​no secret the fact that the lack of portability executive to set up these projects by many institutions, government officials, and this is according to Helen pay the bank to put more pressure on the government to speed up implementation, which confirmed represented the bank achieved a positive outcome at the moment, especially after the stability security situation and the recovery of economic reality. developing the private sector and on how they will develop the private sector (which is one of the main projects that it intends to World Bank to establish in Iraq) drew Helen to the existence of a package of measures she reinvigorating the political that sector which he can increase rates of sustainable development to rates are important, but it criticized a number of economic laws, particularly the banking and financial ones, memory it hindered greatly the application of these procedures to a large extent. also said: In this area there are many results, positive and negative, as the bank works to rehabilitate owned enterprises of the state, as well as the proposals of laws to facilitate the expansion and rehabilitation of some legislation matters commercial, but these things were offset little enthusiasm Iraqi, as the development of private sector projects and the general procedures Bank in this direction requires a Rules new economic keep operations open market economy, as well as the need financial sector development, which suffers from many problems, notably the dominance of state-owned banks on all aspects and financial activities in Iraq, which led to the inability of the private banking sector of upgrading his works as a result. confirmed Helen that the bank programs will provide technical assistance to the private sector, especially with the availability of Some cooperation with institutions and non-governmental organizations and civil thereon, revealing plans to strike deals cooperation between the public and private sectors after the establishment of the center called the label (center private sector development) which will provide advice and technical support to organizations and private sector companies on how to develop their business. economic laws and on Question (morning) opinion World Bank environmental legal national economy responded Helen, saying: The government has to back down a bit (and according to the laws) and allow the private sector to grow and develop and contribute then building the country, where should the decision-makers need to be aware that the development of the economy does not just about to enact new laws, but is closely linked to social stability and development opportunities for everyone. believes Helen that the legal system in Iraq in general (very complex), especially with the existence of laws is not conscious of many people, stressing that citizens do not have ways to enter laws that are approved, and this is why the actress Bank to emphasize that the process of obtaining economic environment good subject to the availability of clear rules and transparent to deal with all circumstances. called Helen decision makers in Iraq to take appropriate legal action to bring about economic changes are important, indicating that you need those changes is the conviction and political will appropriate that can بواسطتهما progress the Iraqi economy forward, revealing establishing the World Bank and a number of donors judicial tribunal specialized economic affairs will be opened in the province of Basra, specializes resolve disputes relating to the private sector, foreign and domestic, and between government institutions. Development .. And high rates of unemployment and crossed Helen concern over her answer to a question (morning) on unemployment rates in Iraq when reported it, according to the official statistics of the Bank, and the rest of the international economic organizations (the highest in the Middle East), those Statistics confirmed that the unemployment rate among young people constitute ratios very high in Iraq, expressing fears of failure to provide adequate job opportunities for those in the current times, especially since they form huge manpower can be exploited to cause mutations important economic. said Helen that all the money that is allocated annually to eliminate unemployment will not achieve its goals in Iraq , asserting that the elimination of unemployment depends on reviving private sector projects which said (he guarantor absorb manpower in parallel to the size of the operating state), calling at the same time the need to benefit everyone from Iraqi oil revenues, and in various forms, especially through the provision of service areas of building health centers and hospitals, and school construction, and provide basic services other. The representative of the bank fearing (marginalize the role of women), especially since they According to official statistics make up more than 50 percent of the society, stressing that he can not get leaps developmental of Iraq that were not there jobs equal development and education between the sexes, noting the presence of a high percentage of illiteracy also in Iraq, which is one of the richest countries in the region. ratios and Statistics economic and showed Helen proportions low said that Iraq was occupied, according to official statistics about the business environment in the world, indicating that the country ranked 166 of the 183 countries that allow the establishment of businesses, while confirmed occupation (bottom) in the Middle East economically (as estimated by the semi-official of the World Bank and organizations worldwide economic), indicating also that Iraq is well in the process of obtaining and paying taxes, but it is very difficult to establishment of business and economic activities, stressing occupation in this side ranked 144 of the 183 countries on how to start a business for the private sector, and this is what called Helen to say: From our point of view there is no culture to support the private sector in Iraq, though the government has supported this sector will get many of the gains the most prominent of getting jobs commensurate with the size of government employment, and this is according to Helen is called Based on these statistics to put Iraq in the ranks very low despite owning that country for all the ingredients of economic success. Bank and International Monetary Fund and the view of many observers of the affair Iraqi economic that the bank and the IMF have had many situations in changing tracks the process of economic in Iraq, and perhaps part of those positions (according to Vision Street) were negative, especially the pressure on the government in 2006 to raise support for oil derivatives, which is what happened then actually led in the post to the high inflation rates, and did not appear represented the World Bank surprising when confirmed the presence of agreements between the IMF (in particular) and the Iraqi government, authorizing only the first review of procedures carried out by Iraq to be alerted to certain things based on the that Convention. shows also said a review of those government policies (opinion of the International Monetary Fund) to ensure the stability of the local market, where they can tack measures that work to give Iraq economic stability largest, according to Helen that indicated that after tumbling oil prices and forced Iraq to cut its budget fiscal three times in 2009 to get deficit-, the oldest of the World Bank to give Iraq $ 250 million, while granting the IMF amount two billion dollars to meet the size of the budget deficit at the time, and this from the viewpoint represented the bank demonstrates the breadth of the volume of cooperation between Iraq and the international economic organizations, stressing The World Bank put a similar agreement to put the IMF with Iraq, stressed that agreement on the need for Iraq to have law on procurement for the implementation of projects properly and correct.

http://www.alsabaah.com/ArticleShow.aspx?ID=36846

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cbs71 Newbie

cbs71

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Why would a country on the verge of RV'ing itself trillions of dollars need a paltry 900 million from the World Bank.

We keep expecting a huge RV any minute, and Iraq keeps begging money from the world. I don't get it.

You may have a point BUT...would the WB do this out of the kindness of their heart? Don't think so....we live in a "what can you do for me" type of world....

Stay tuned......

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rockfl9 Explorer

rockfl9

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This GRANT is really a low interest LOAN with strings attached. Usual WB terms ... The strange thing is that the amount and terms are the same as given 10 years ago and should be due to begin repayment next year????? I will wait for news from WB if this is new loan !!!!

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