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Iraq signs a financing agreement with the European Union for more than 15 million euros
| Wednesday, April 18 |
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Iraq and the European Union signed on Wednesday to finance more than 15 million euros agreement, while the European Commission indicated that the amounts would be complementary to the program of the World Bank , which 41.5 million euros.
The Minister of Planning Salman Jumaili said on the sidelines of the signing of the agreement in a press conference attended by Alsumaria News, "Iraq signed today with the European Union funding agreement for a package of 15.6 million euros and to strengthen the institutions of oversight and accounting of the management of public finances in Iraq."
Al-Jumaili added that "the European Union will cooperate with the World Bank to implement this initiative," noting that "these amounts will be complementary to the World Bank program, which amounted to 41.5 million euros, which was launched in 2017 as the modernization of financial management systems in Iraq."
He added that "the reasons for this support is that the proper systems of public finance management to achieve the optimal and effective use of donor assistance depends on the systems working for the implementation of budget development and implementation and control, and the efficiency in the management of public resources and the provision of services is important to the completion of public policy of the state" .
Iraq signed two grant agreements worth 60.4 million euros with the European Union in December 2017 for the reconstruction of liberated areas.
The new EU ambassador in Iraq, Ramon Blakwa, assured Prime Minister Haider Abadi on November 22 that the EU supports the reconstruction efforts, building institutions and preserving Iraq's unity.
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