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Iraq is discussing with the World Bank the establishment of the Donor Trust Fund for Reconstruction

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Iraq is discussing with the World Bank the establishment of the Donor Trust Fund for Reconstruction

Post by RamblerNash on Wed Sep 26, 2018 1:15 pm

Iraq is discussing with the World Bank the establishment of the Donor Trust Fund for Reconstruction

2018/9/26 14:04

{Baghdad: Al-Furat News} The government discussed with the World Bank and ambassadors the framework for the establishment of a multi-donor trust fund (MDTF) to finance reconstruction projects in Iraq.

A statement by the Secretariat General of the Council of Ministers received by the Agency {Euphrates News} a copy of it that the Secretary-General Ali Alalak stressed during a meeting with representatives of the embassies of Germany and the United Kingdom and the World Bank and the Regional Director for the Mashreq in the World Bank, in addition to the Undersecretary of the Ministry of Finance Agency for the Iraqi side " Work and framework for cooperation in the next phase, the World Bank and donor countries can overcome the difficulties and provide the possible support for Iraq, giving absolute priority to any international support in the health and education for their impact in the development of human development in the future in Iraq.

"The fund aims to meet the challenge of budget deficit and establish a platform for financing operations for the purpose of economic reconstruction and development in Iraq, where the Fund works in a transparent manner to deliver the international community grants to finance projects inside Iraq in areas affected by terrorism and other provinces suffering from low The level of services such as Basra Governorate, and to ensure coordination, integration and comprehensive economic reforms, the Fund works with the Iraqi Ministry of Planning as the Iraqi entity that provides donors with the list of priorities of projects for all sectors.

"Under the fund, donors are mobilizing their financial assistance in the MDTF and under the supervision of the World Bank and in coordination with the Iraqi Ministry of Planning to finance priority projects that will provide basic services in sectors such as water, electricity, health and education as well as other sectors including security, Communications, public institutions and housing ".

"The fund will also achieve" economic reforms aimed at improving the level of involvement of the private sector in investment projects and create an attractive and secure economic environment for investment and revitalization of the private sector in Iraq. "

"On the technical level, the World Bank is working to stabilize the mechanisms of the work of the Fund and obtain approvals of the Iraqi government in the coming period and in cooperation with the embassies of the Federal Republic of Germany and the United Kingdom in Iraq, and reconstruction and recovery to suit the needs, both immediate and long-term in Iraq."


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