The World Bank focuses on financing three areas in Iraq

2018/1/10 12:10


World Bank officials have announced that the bank has identified three areas of potential funding focus in Iraq.
"Secretary-General of the Council of Ministers Mahdi Al-Alak chaired the workshop on the policy of financing projects between the World Bank and representatives of government and economicbodies involved in investment projects," a statement from the Secretariat of the Council of Ministers said.
"The conference aims at reaching a mechanism for financing reconstruction projects in Iraq," he said, adding that the conference, which will be hosted by Kuwait next month, will see a comprehensive investment plan for reconstruction and development in Iraq.
"The government has a comprehensive plan for investment to be presented at the conference for the reconstruction of the industrial, agricultural and economic sectors, especially as Iraq will deal with banks and international destinations."
He pointed to "the file of humanitarian needs for the management of funding, primarily the World Bank and banks operating in Iraq."
For her part, the Director of the World Bank's Office in Iraq, Yara Salem, to the completion of a proposal to study a strategic co-financing of the Fund for Iraq.
A number of World Bank officials reviewed the mechanism of strategy and how the financing process, the principles of financing including the diversification of sources and smart subsidies to take advantage of funds and grants, and credibility with companies and investors. The World Bank has identified three areas of potential focus of funding: the private sector, the public sector, "He said.