Iraq is discussing with the World Bank to help Iraq with real estate finance

Iraq is discussing with the World Bank to help Iraq with real estate finance



04/05/2018

Economy News _ Baghdad

The Under Secretary of the Ministry of Construction and Housing, Istbork Al-Thouk, discussed Thursday with the delegation of the World Bank headed by financial advisor to the finance sector Sayed Mahdi Hassan prospects for joint cooperation between Iraq and the World Bank in assisting the Iraqi government in housing finance.

The World Bank's contribution to the reconstruction of liberated areas, rehabilitation of infrastructure, reconstruction of damaged bridges and ensuring the return of displaced persons to their areas were discussed, the ministry said in a statement.

He added that the projects implemented by the ministry and the proposed projects have been reviewed and the areas that the World Bank can support to contribute to the reconstruction process as international institutions in support of post-conflict reconstruction plans are the core of the World Bank's mission to seek financial assistance and strategies for developing countries.

He stressed the need for World Bank representatives to put in place close working arrangements for quick results, calling on the World Bank and donors to support institutional development and help build capacity for sustainable development.

On the other hand, Financial Advisor Sayed Hassan presented the World Bank's vision to work in Iraq and its contribution to the development of solutions to reduce financial risks on the state budget by raising the efficiency of the management of housing finance in the field of housing and the development of concessional lending frameworks for citizens affected by conflicts.

According to the statement, it was agreed that the delegation will visit the Housing Fund and study the possibility of financing the World Bank in the field of expanding lending to citizens, especially in liberated areas. The World Bank can provide expertise to strengthen the governance framework and develop mechanisms to reduce the credit risk within the Housing Fund.

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