The Secretariat of the Council of Ministers is discussing with the World Bank and international support bodies the establishment of the MDTF

The Secretary-General of the Council of Ministers, Dr. Mahdi Al-Alak, stressed the necessity of adopting a working formula and a framework for cooperation in the coming stage. The World Bank and donor countries can overcome the difficulties and provide the possible support for Iraq, while giving absolute priority to any international support in the health and education sectors for their impact on the future development of human development in Iraq. .

This came during a meeting with representatives of the embassies of Germany, the United Kingdom, the World Bank and the Regional Director of the Levant in the World Bank, in addition to the Undersecretary of the Ministry of Finance and the agency on the Iraqi side.

The meeting discussed the general framework for the establishment of the MDTF to finance reconstruction projects in Iraq.

The fund aims to meet the challenge of budget deficit and set up 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 levels of services such as Basra To ensure coordination, integration and overall economic reforms, the Fund works with the Iraqi Ministry of Planning as the Iraqi entity that provides donors with a list of project priorities for all sectors.

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, agriculture, transport, communications, public institutions and housing. .

As well as achieving economic reforms aimed at improving the level of involvement of the private sector in investment projects and create an attractive and safe economic environment for investment and revitalization of the private sector in Iraq.

At the technical level, the World Bank is working to stabilize the mechanisms of the Fund and to obtain the 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, reconstruction and recovery to suit the needs, both immediate and long-term in Iraq.

Article Credit: https://cabinet.iq/
Special thanks to Charles Bright!!!