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The central bank signs a banking arrangement document with the World Bank

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The central bank signs a banking arrangement document with the World Bank Empty The central bank signs a banking arrangement document with the World Bank

Post by claud39 on Wed May 13, 2020 9:44 am

The central bank signs a banking arrangement document with the World Bank


05/13/2020




The central bank signs a banking arrangement document with the World Bank 10308




Economy News - Baghdad



The Central Bank of Iraq announced, on Wednesday, the signing of a banking arrangement document with the World Bank's Reserves Management Advisory Program.

The Central Bank said in a statement received by "Al-Iqtisad News", that "within the framework of its strategy to develop the management of its foreign reserves in line with current and future developments, the Central Bank of Iraq signed a banking arrangement document with the Reserves Management and Advisory Program of the World Bank (RAMP) Reserves Advisory & Management Program ".

"This document aims to enable the Central Bank of Iraq to obtain technical support through the exchange of knowledge and experience in the field of investment portfolio management based on a performance indicator that helps to maximize financial resources, build human capital by exchanging knowledge and developing expertise in the financial field," the statement added. According to the best practices in the field of reserves management. "

He continued, "This program was developed by the World Bank in 2000, with the aim of building capacity and providing consulting and asset management services, and is a meeting place for a network of specialists, and serves more than (70) members around the world, most of them from central banks, who manage nearly (2) $ 1 trillion in sovereign assets. "





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The central bank signs a banking arrangement document with the World Bank Empty The central bank signs a banking arrangement document with the World Bank

Post by claud39 on Wed May 13, 2020 9:51 am

The central bank signs a banking arrangement document with the World Bank




May 13, 2020





The central bank signs a banking arrangement document with the World Bank News-158935969317023










As part of its strategy to develop its foreign reserves management in line with current and future developments, the Central Bank of Iraq signed a banking arrangements document with the World Bank's Reserves Management & Consulting Program ( RAMP ) Reserves Advisory & Management Program 
This document aims to enable the Central Bank of Iraq to obtain technical support through the exchange of knowledge and experience in the field of investment portfolio management based on a performance indicator that helps to maximize financial resources, build human capital by exchanging knowledge and developing expertise in the financial field in accordance with best practices In the field of reserve management.
It is noteworthy that this program was developed by the World Bank in 2000, with the aim of building capacities and providing consulting and asset management services, and is considered a meeting place for a network of specialists, and it serves more than (70) members around the world, most of them are from central banks, managing nearly (2) One trillion dollars of sovereign assets.
 

The Central Bank of Iraq

  information Office

  May 13, 2020







https://cbi.iq/news/view/1489
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The central bank signs a banking arrangement document with the World Bank Empty Disclosable Restructuring Paper - Emergency Operation for Development - P155732 (Anglais)

Post by claud39 on Wed May 13, 2020 10:00 am

Disclosable Restructuring Paper - Emergency Operation for Development - P155732 (Anglais)



INFORMATION








FULL REPORT IN ENGLISH

Official version of the document (may include signatures etc ...)


Total Downloads** : 7
* The text version is a version with uncorrected optical character recognition. This version is provided only to accommodate users with slow connections.
**Download statistics measured since January 1st, 2014




http://documents.banquemondiale.org/curated/fr/241861588943013486/pdf/Disclosable-Restructuring-Paper-Emergency-Operation-for-Development-P155732.pdf




http://documents.banquemondiale.org/curated/fr/241861588943013486/Disclosable-Restructuring-Paper-Emergency-Operation-for-Development-P155732
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The central bank signs a banking arrangement document with the World Bank Empty Re: The central bank signs a banking arrangement document with the World Bank

Post by claud39 on Wed May 13, 2020 10:21 am

2020/05/08


REPORT NO.: RES41602



DOCUMENT OF THE WORLD BANK RESTRUCTURING PAPER ON A PROPOSED PROJECT RESTRUCTURING OF EMERGENCY OPERATION FOR DEVELOPMENT APPROVED ON JULY 7, 2015 TO MINISTRY OF FINANCE URBAN, RESILIENCE AND LAND MIDDLE EAST AND NORTH AFRICA 



Regional Vice President: Ferid Belhaj
 Country Director: Saroj Kumar Jha 
Regional Director: Ayat Soliman
 Practice Manager/Manager: Jaafar Sadok Friaa
 Task Team Leader(s): Ibrahim Khalil Zaki Dajani, Nadwa Rafeh, Nafie Mohammed Mofid 



I. BASIC DATA

 Product Information 

Project ID
 Financing Instrument P155732 Investment
Project Financing 

Original EACategory Current

 EA Category 
Partial Assessment (B) 
Partial Assessment (B) 

Approval Date Current Closing Date 07-Jul-2015 31-Dec-2022

 Organizations 
Borrower
 Responsible Agency

 Ministry of Finance Ministry of Health,Ministry of Electricity,Ministry of Construction, Housing, Municipalities and Public Works,Reconstruction Fund for Areas Affected by Terroristic Operations, C/O Dr. Mustafa Hiti,Ministry of Agriculture - C/O Dr. Hamid Ali Hadwan, Director General of Plant Protection Department,Ministry of Education, C/O Mr. Sabah Khalaf Jebur, Director General,Ministry of Water Resources,Anbar Governorate,Diyala Governorate, C/O Muthanna Ali Mahdi al-Tamimi, Governor,Nineveh Governorate, C/O Ameen Ibrahim Fanash, Deputy Governor for Planning,Salah Ad-Din Governorate,Roads and Bridges Directorate @ Ministry of Construction, Housing, Municipalities and Public Works,Ministry of Transport 

Project Development Objective (PDO) 

Original PDO The Project is to support the Republic of Iraq in the reconstruction of damaged infrastructure and the restoration of public services delivery in Targeted Municipal Areas. 

Summary Status of Financing 

Ln/Cr/Tf Approval Signing Effectiveness Closing Net Disbursed Undisbursed



IBRD-87930 31-Oct-2017 05-Jul-2018 21-Aug-2018 31-Dec-2022 400.00 22.14 377.86 IBRD-85200 07-Jul-2015 12-Jul-2015 18-Sep-2015 30-Jun-2021 350.00 261.90 88.10 Policy Waiver(s) Does this restructuring trigger the need for any policy waiver(s)? No I. SUMMARY OF PROJECT STATUS AND PROPOSED CHANGES PROJECT STATUS: 

The project continues to progress towards achieving its objectives, i.e. "to support the Republic of Iraq in the reconstruction of damaged infrastructure and the restoration of public services delivery in Targeted Municipal Areas." The performance of the project is currently rated Moderately Satisfactory. 

Many of the services are being restored with benefits reaching over 3 million people in the areas in five governorates liberated from ISIS. Commitments have reached US$ 290 million (or 83% of loan proceeds) while disbursements reached US$ 262 million (or 74.8% of the loan proceeds). 


The project is already contributing to

 (a) restoring electricity connectivity with an average of 35% increase in the hourly electricity supply in 27 targeted cities and towns in four governorates (Anbar, Diyala, Ninawa and Salah ad-Din) with a total beneficiary of 1 million people;

 (b) restoring essential municipal services including regular municipal waste collection, functioning water purification compacts to about 1.7 million people in 30 towns and villages in three governorates (Anbar, Diyala and Salah ad-Din); 

(c) restoring access through the repair and reconstruction of roads and bridges with 25 essential and strategically located bridges have been reconstructed and 400 kilometers of essential road corridors have been rehabilitated serving about 3 million people in 30 cities and towns in four governorates of (Anbar, Diyala, Ninawa and Salah ad-Din); 

(d) restoring health services through the supplied 82 ambulances with communication equipment, and 14 mobile clinics, serving 1 million people in 20 cities and towns in two governorates (Diyala and Salah ad-Din). 

In addition, based on the Government of Iraq’s (GOI) request, the project and through the uncommitted funds under loan Category 4b(ii) is suppling essential medical equipment and supplies for COVID-19 preparedness and response. 

The support specifically aims to strengthen intensive care unit (ICU) capacity at public hospitals for improved COVID-19 case management. 

The supply is being achieved through an agreement between the Ministry of Health (MOH) and United Nations Office for Project Services (UNOPS) signed on April 30, 2020 in the amount of US$ 7.8 million. 

Equipment and supplies will be delivered to designated sites in four to eight weeks; and (e) the emergency repair of water control, infrastructure and irrigation schemes activities have been substantially delayed as the counterpart was focus on activities being financed under the EODP Additional Financing as well as the delays in approving the national 2020 budget which hindered the registration of any new activities to be financed under EODP including that under this category. 

The project is also achieving good progress in implementing state/citizen trust-building and reconciliation promotion initiatives. Led by the communication expert at the Reconstruction Fund - Project Coordination Unit (PCU), 31 trustbuilding and reconciliation workshops and training sessions have been carried out in five governorates liberated from 


ISIS. 79 NGOs and just over 1,000 individual participants of which 40% are women participated in train-the-trainer workshops to promote community internal dialogue and reconciliation and to rebuild trust between the societies and the government. Furthermore, five WhatsApp groups have been established to communicate with the RF communication expert and World Bank TTL about the progress in implementing the EODP activities and other areas of priorities. A previously announced one hour connections are being held on weekly basis bringing about 88 men and women (youth leaders) to this exchange platform.

 Disbursement has been improved as a result of close monitoring of payments to contractors and suppliers. The ThirdParty Monitoring Agency (TPMA) who has been retained by the Bank continues to provide the needed support to verify contractual compliance with technical, fiduciary, and safeguards aspects of the project. In addition, technical and financial audits are being performed by independent consultants whose services are procured by the Reconstruction Fund and in accordance to Terms of Reference (TORs) cleared by the Bank's task team and based on Bank's procurement guidelines. The audits aim to provide another layer of verification of implementation of the activities being financed by EODP and their compliance with the various requirements. 


The compliance with the safeguards policies requires greater attention. While there is a general compliance with construction site management, attention needs to focus on workers safety to ensure full compliance with the Occupational Health and Safety measures identified under the Environmental and Social Management Plans. Similarly, there is a general compliance with social safeguards with an exception of one case of temporary land a cquisition that is currently in the final stages of documentation. 

COVID-19 in Iraq. The first COVID-19 case was reported in Iraq on February 24, 2020. As of May 5, 2020, Iraq has reported 2,431 confirmed cases and 102 reported deaths. COVID-19 has now spread to all governorates in Iraq, while majority of the cases are in Baghdad and Basra. The MOH has expanded in-country diagnostic capacity with around 3,000 tests per day at the central health laboratory in Baghdad (Medial City), Erbil (Kurdistan region), Najaf and Basra. Despite MOH’s efforts, and funding through external grants and in-kind support (personal protective equipment, testing kits, basic hygiene items etc.) from China, France, Kuwait, Netherlands, UNHCR, and USAID, Iraq still faces a threat posed by COVID-19 outbreak and has limited health system capacity to address increase demand due to rising COVID-19 cases. 

PROPOSED CHANGES 

The proposed restructuring aims to reallocate US$ 25.825 million to Category 4b(ii) to support the MOH to respond to the COVID-19 pandemic. These funds will be reallocated from Categories:
 (i) 4b(i) provision of repair to the damaged health services (US$ 5 million); (ii) 6 (Unallocated) (US$ 0.825 million);and (iii) 7 (Emergency Repair of Water Control, Infrastructure and Irrigation Schemes) (US$ 20 million) as presented in the “Reallocation between Disbursement Categories” table below. 

Rationale for restructuring. 

The proposed restructuring will support the government prevent, detect and respond to the COVID-19 pandemic in Iraq. 
The restructuring responds to a request from the GOI dated May 4, 2020 to reallocate funds towards COVID-19 preparedness and response that will allow for immediate support to finance the procurement of medical equipment and consumables and supporting training of health workers and front-line responders. 

In particular, the restructuring aims to provide financial support to the MOH to: (a) procure beds, furniture, ventilators, CT machines, PCR machines, testing kits, equipment for intensive care units, and other equipment and supplies for COVID-19 case management; and (b) train medical staff on the use of these equipment.



Procurement Arrangements. Procurement for the project continues to be carried out in accordance with the World Bank’s Procurement Regulations for IPF Borrowers for Goods, Works, Non-Consulting and Consulting Services, dated July 1, 2016 (revised in November 2017 and August 2018), and the World Bank’s Anticorruption Guidelines, dated October 15, 2006, revised in January 2011, and as of July 1, 2016. There are no changes to risk assessment and mitigation measures. The procurement approach continues to prioritize fast track emergency procurement for the emergency procurement of required goods, works and services. Procurement of medical equipment will build on the successful experience with UNOPS (who are already procuring similar medical equipment under the project) to procure the additional needs. UNOPS will use its emergency "fast track" procurement procedures for expedited supply of emergency equipment. The procurement transactions will continue to use the Systematic Tracking of Exchanges in Procurement (STEP) to plan, record and track procurement transactions. 

Financial Management. 
The new allocated amount of category 4(b)(ii) is US$ 25.825 million. The Project Management Team (PMT) of Category 4(a) is responsible for implementing this new category of 4(b)(ii) and for submitting the interim un-audited financial statements on quarterly basis. This restructuring is occurring in IBRD85200 (Parent EODP) thus, the Borrower will have audited financial statements based on the current signed contract with Ernst and Young. It is possible to submit the audited financial statements, auditor report and management letter along with the package of 4a category, because it is implemented by the same Implementing Agency (IA) and PMT. 

Safeguards. The EA Category of the Project is “B”. A Bank-cleared and disclosed Environmental and Social Management Framework (ESMF) and Resettlement Policy Framework (RPF) are in place for both EODP and EODP-AF. For the activities under the Health Component (4), Bank-cleared site-specific ESMPs and Medical Waste Management Plans (MWMPs) are in place for all the health centers and mobile clinics. The scope of the instruments under Component 4 already covers the scope of purchasing medical equipment which is the exact scope to be financed under this restructuring. No additional impacts from this restructuring are expected to require updating the ESMF. No change in the Project EA Category will take place and no land acquisition is anticipated as a result of the restructuring. No new safeguards policies will be triggered by this restructuring. 



II. DETAILED CHANGES 

REALLOCATION BETWEEN DISBURSEMENT CATEGORIES

 Ln/Cr/TF Current Expenditure Category Current Allocation Actuals + Committed Proposed Allocation Disbursement % (Type Total)

 Current Proposed IBRD85200-001 Currency: USD CW G NCS;CS;IOC Parts1&6a Project 70,000,000.00 67,242,178.55 70,000,000.00 100.00 100.00



GD;NCS;CS;IOC Parts2;

5a,d&6b Projct 62,000,000.00 50,587,509.58 62,000,000.00 100.00 100.00 GD;NCS;CS;IOC Parts3;5b,c&6c 

Projct 137,000,000.00 108,685,262.40 137,000,000.00 100.00 100.00 GD;NCS;CS;IOC; P4a, 5e, 6d 18,000,000.00 14,952,698.40 18,000,000.00 100.00 100.00 GD;W, NCS;CS;IOC; P4bi 12,100,000.00 0.00 7,100,000.00 100.00 100.00 GD;W, NCS;CS;IOC; P4bii 10,000,000.00 500,000.00 35,825,000.00 100.00 100.00 GD;NCS;CS;IOC; TRG;WSH 5d,i& 6e Pjct 9,200,000.00 4,720,571.70 9,200,000.00 UNALLOCATED 825,000.00 0.00 0.00 G W NCS CS IOC P7 30,000,000.00 0.00 10,000,000.00 100.00 100.00 Total 349,125,000.00 246,688,220.63 349,125,000.00



http://documents.banquemondiale.org/curated/fr/241861588943013486/pdf/Disclosable-Restructuring-Paper-Emergency-Operation-for-Development-P155732.pdf


http://documents.banquemondiale.org/curated/fr/241861588943013486/Disclosable-Restructuring-Paper-Emergency-Operation-for-Development-P155732
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The central bank signs a banking arrangement document with the World Bank Empty World Bank deploys US$33.6 million in emergency response to help Iraq face the Coronavirus outbreak

Post by claud39 on Wed May 13, 2020 11:28 am

[size=36]World Bank deploys US$33.6 million in emergency response to help Iraq face the Coronavirus outbreak[/size]



Wednesday, 13 May 2020



The central bank signs a banking arrangement document with the World Bank UNofficiallogosmall



Baghdad, May 12, 2020 — In response to the COVID-19 outbreak in Iraq, the World Bank has recently approved the re-allocation of U$33.6 million under the current Emergency Operation for Development Project (EODP-US$750 million) to support the Ministry of Health’s efforts in preventing, detecting, and responding to the COVID-19 pandemic.

 
This fast track emergency response comes in two phases. The World Bank initially mobilized US$7.8 million from resources that were immediately available under the EODP to help finance the supply of essential medical equipment and supplies and strengthen intensive care unit (ICU) capacity at public hospitals for improved COVID-19 case management. Through cooperation with the United Nations Office for Project Services (UNOPS), ventilators, ICU beds, ECG machines, mobile X-ray machines and defibrillators will be delivered to designated sites in four to eight weeks.

In a follow-up step, the World Bank also approved the Government of Iraq’s request to re-allocate an additional US$25.8 million under the project to supply additional quantities of equipment and consumables and support the training of health workers and front-line responders on their use. The expedited procurement procedures of UNOPS will ensure the timely delivery of medical supplies to the Ministry of Health.

“The pandemic is expected to particularly hit poor and vulnerable households. The World Bank stands ready to support Iraq’s efforts to contain the rapid spread of the virus and strengthen the capacity of the Ministry of Health to address the additional strain the pandemic poses on the Iraqi health system,” said Saroj Kumar Jha, World Bank Mashreq Regional Director.

The reallocation of funds does not affect the initial scope of the Emergency Operation for Development Project which aims to support Iraq in the reconstruction of damaged infrastructure and the restoration of public services delivery in targeted municipal areas. As a matter of fact, and through the procurement of goods, works and consulting services using World Bank’s procurement and financial management regulations, over 3 million people in five governorates liberated from ISIS are already benefiting from improved health services through the rehabilitation of damaged clinics and the supply of 14 mobile clinics and 82 ambulances, restored electricity connectivity by 35%, improved key municipal services with the provision of purified drinking water and waste collection schemes, and restored access through the reconstruction of 400 km of roads and 25 critical bridges. The project is also contributing to promoting state/citizen trust-building and reconciliation through the training of 79 non-governmental organizations and over 1,000 young men and women on peaceful dialogue and reconciliation in their communities.

The Emergency Operation for Development Project was initially approved in July 2015 in the amount of US$350 million. An additional financing to the project in the amount of US$400 million was later on approved in October 2017 to allow the geographic scale-up of existing project activities to additional cities liberated from ISIS.

World Bank Group COVID-19 Response


The World Bank Group, one of the largest sources of funding and knowledge for developing countries, is taking broad, fast action to help developing countries strengthen their pandemic response. We are increasing disease surveillance, improving public health interventions, and helping the private sector continue to operate and sustain jobs. Over the next 15 months, we will be deploying up to $160 billion in financial support to help countries protect the poor and vulnerable, support businesses, and bolster economic recovery, including $50 billion of new IDA resources in grants or highly concessional terms.

Contacts

In Washington
Ashraf Al-Saeed
(202) 473-1187
aalsaeed@worldbank.org
In Beirut
Zeina El Khalil
(961) 1-962-954
zelkhalil@worldbank.org



https://www.uniraq.org/index.php?option=com_k2&view=item&id=12326:world-bank-deploys-us-33-6-million-in-emergency-response-to-help-iraq-face-the-coronavirus-outbreak&Itemid=605&lang=en
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