HomeEU and World Bank sign agreement with Iraq
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EU and World Bank sign agreement with Iraq
Rocky- Admin Assist
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- Post n°2
European Commission and World Bank sign agreement to boost development cooperation
by Rocky Sun 16 Sep 2018, 2:56 am
[size=40]European Commission and World Bank sign agreement to boost development cooperation
April 15, 2016
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WASHINGTON, April 15, 2016 – The European Commission and the World Bank Group signed a Framework Agreement on Friday, 15 April 2016, to further their cooperation on the implementation of development projects across the globe. This agreement sets the terms under which the World Bank will disburse EU budget money on development projects on the ground.
World Bank Vice President Axel van Trotsenburg said, "The challenges faced by our clients are increasingly complex and require innovative thinking and partnerships. This agreement with the European Commission reinforces the EC’s role as a key partner in our strategic, policy and operational efforts to reach the goal of ending extreme poverty and increasing shared prosperity."
"With this agreement, we're upgrading the strategic partnership between the European Commission and the World Bank to fight poverty around the world. We can accelerate delivery of our funds and increase the transparency of our joint projects for the benefit of people in the developing countries," said European Commission Vice-President, Kristalina Georgieva, at the signing ceremony.
The European Commission and the World Bank first signed a cooperation agreement in 2001. The current document is a revision of an agreement dating from 2014. The revision of the agreement adjusts to the revised funding model of the World Bank, with clarified remuneration, accountability, simplification and increased transparency.
For the period 2010–2015, the European Commission has contributed over two billion euro to the [You must be registered and logged in to see this link.], thus becoming the third biggest contributor.
The money has mainly gone to Africa (48%) and South Asia (26%), and has enabled the implementation of projects including in the areas of public administration and law (31%), health and social services (19%), and education (17%).
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April 15, 2016
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WASHINGTON, April 15, 2016 – The European Commission and the World Bank Group signed a Framework Agreement on Friday, 15 April 2016, to further their cooperation on the implementation of development projects across the globe. This agreement sets the terms under which the World Bank will disburse EU budget money on development projects on the ground.
World Bank Vice President Axel van Trotsenburg said, "The challenges faced by our clients are increasingly complex and require innovative thinking and partnerships. This agreement with the European Commission reinforces the EC’s role as a key partner in our strategic, policy and operational efforts to reach the goal of ending extreme poverty and increasing shared prosperity."
"With this agreement, we're upgrading the strategic partnership between the European Commission and the World Bank to fight poverty around the world. We can accelerate delivery of our funds and increase the transparency of our joint projects for the benefit of people in the developing countries," said European Commission Vice-President, Kristalina Georgieva, at the signing ceremony.
The European Commission and the World Bank first signed a cooperation agreement in 2001. The current document is a revision of an agreement dating from 2014. The revision of the agreement adjusts to the revised funding model of the World Bank, with clarified remuneration, accountability, simplification and increased transparency.
For the period 2010–2015, the European Commission has contributed over two billion euro to the [You must be registered and logged in to see this link.], thus becoming the third biggest contributor.
The money has mainly gone to Africa (48%) and South Asia (26%), and has enabled the implementation of projects including in the areas of public administration and law (31%), health and social services (19%), and education (17%).
[You must be registered and logged in to see this link.]
Rocky- Admin Assist
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EU and World Bank sign agreement with Iraq
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"This initiative, which will be implemented jointly by the World Bank and the European Union, comes to complement the € 41.5 million fiscal management reform program launched by the World Bank in 2017. It also targets the key weaknesses of the PFM system and supports special commitments and objectives To reform this system, which is under implementation. "
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The World Bank and the European Union on Sunday signed an agreement with Iraq worth 15.6 million euros aimed at strengthening oversight institutions and increasing public resource management activities in Iraq.
In a joint statement issued by the World Bank and the European Union, the Economist News said that they signed today a "technical assistance program agreement of 15.6 million euros aimed at strengthening the institutions of control and accounting of public finance management in Iraq and increasing the effectiveness of public resources management and service delivery."
"This initiative, which will be implemented jointly by the World Bank and the European Union, comes to complement the € 41.5 million fiscal management reform program launched by the World Bank in 2017. It also targets the key weaknesses of the PFM system and supports special commitments and objectives To reform this system, which is under implementation. "
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The World Bank and the European Union support Iraq with $ 18.1 million
by Rocky Mon 17 Sep 2018, 1:35 am
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[rtl]Date of release: 2018/9/16 17:31 • 223 times read[/rtl]
The World Bank and the European Union (EU) have signed a technical assistance program of 15.6 million euros ($ 18.1 million) aimed at strengthening Iraq's public finance management oversight and accountability institutions and increasing the effectiveness of public resource management And service delivery.
"This initiative, which will be implemented jointly with the European Union, comes to complement the $ 41.5 million fiscal management systems reform program launched by the World Bank in 2017," UNAMI said in a statement read by the Euphrates News Agency. "It also targets key weaknesses in the public financial management system in Iraq and supports the commitments and objectives for reform of the system that are under way."
"Public financial management is an essential part of any development process," said Saroj Kumar Jha, Regional Director for Mashreq, World Bank, Mashreq. "Strong public financial management systems strengthen macro-control, prioritization, accountability and efficiency in public resource management and service delivery, Critical to achieving public policy objectives, as well as restoring confidence and social contract between Iraqi citizens and state institutions.
"Since aid is increasingly being provided through formulas based on effective budgeting, implementation and oversight systems, a sound public financial management system is essential to ensure the proper and effective use of donor assistance and a more efficient public financial management system Also essential to reduce inequality in the distribution of wealth and promote a dynamic and prosperous economic environment more conducive to the development of business.
"As the European Union pledged at the Kuwait conference, it is committed to standing with Iraq in the process of reconstruction and economic and political reform," said EU Ambassador to Iraq Ramon Belkwa. "Our cooperation with the World Bank has been fruitful, and this project complements the existing and supportive efforts of the Department of Finance "The project we are signing today will focus on donor-government coordination, more effective resource management, stronger oversight and accountability, and fight corruption." The EU is ready to help Iraq meet the challenges of reconstruction and secure a better future for Iraq.
"The program is based on three pillars and includes nine sub-components, each of which is linked to a specific objective of the Iraqi government's mandate, and a government institution or unit has been designated for each of these components to be the follow-up to the implementation of this component with the World Bank Group and the European Union. While the Iraqi authorities will be concerned with the implementation of some components with the support of the World Bank, the World Bank and the European Union will implement other components because of the weak potential.
"The program envisages the establishment of a donor coordination committee to discuss all decisions on fiscal management reforms and donor support under the supervision of the Iraqi government to ensure ownership, coordination, integration and comprehensive reforms."
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The World Bank and the European Union support Iraq with $ 18.1 million
[/rtl][rtl]Date of release: 2018/9/16 17:31 • 223 times read[/rtl]
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[rtl]The World Bank and the European Union (EU) have signed a technical assistance program of 15.6 million euros ($ 18.1 million) aimed at strengthening Iraq's public finance management oversight and accountability institutions and increasing the effectiveness of public resource management And service delivery.
"This initiative, which will be implemented jointly with the European Union, comes to complement the $ 41.5 million fiscal management systems reform program launched by the World Bank in 2017," UNAMI said in a statement read by the Euphrates News Agency. "It also targets key weaknesses in the public financial management system in Iraq and supports the commitments and objectives for reform of the system that are under way."
"Public financial management is an essential part of any development process," said Saroj Kumar Jha, Regional Director for Mashreq, World Bank, Mashreq. "Strong public financial management systems strengthen macro-control, prioritization, accountability and efficiency in public resource management and service delivery, Critical to achieving public policy objectives, as well as restoring confidence and social contract between Iraqi citizens and state institutions.
"Since aid is increasingly being provided through formulas based on effective budgeting, implementation and oversight systems, a sound public financial management system is essential to ensure the proper and effective use of donor assistance and a more efficient public financial management system Also essential to reduce inequality in the distribution of wealth and promote a dynamic and prosperous economic environment more conducive to the development of business.
"As the European Union pledged at the Kuwait conference, it is committed to standing with Iraq in the process of reconstruction and economic and political reform," said EU Ambassador to Iraq Ramon Belkwa. "Our cooperation with the World Bank has been fruitful, and this project complements the existing and supportive efforts of the Department of Finance "The project we are signing today will focus on donor-government coordination, more effective resource management, stronger oversight and accountability, and fight corruption." The EU is ready to help Iraq meet the challenges of reconstruction and secure a better future for Iraq.
"The program is based on three pillars and includes nine sub-components, each of which is linked to a specific objective of the Iraqi government's mandate, and a government institution or unit has been designated for each of these components to be the follow-up to the implementation of this component with the World Bank Group and the European Union. While the Iraqi authorities will be concerned with the implementation of some components with the support of the World Bank, the World Bank and the European Union will implement other components because of the weak potential.
"The program envisages the establishment of a donor coordination committee to discuss all decisions on fiscal management reforms and donor support under the supervision of the Iraqi government to ensure ownership, coordination, integration and comprehensive reforms."
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Government welcomes the agreement between the European Union and the World Bank with Iraq
by Rocky Mon 17 Sep 2018, 2:33 am
Government welcomes the agreement between the European Union and the World Bank with Iraq
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On Sunday, government agencies welcomed the EU-World Bank agreement with Iraq aimed at strengthening oversight institutions and increasing public resource management activities in Iraq.
"Despite the existence of long-standing institutions in Iraq that are concerned with the subject (supervision and management of public resources) and the sound law of financial management, we feel that, There is a real need to build the capacity of workers in the fields of supervision and financial performance. "
He added that the signed agreement includes "building national capacities, which represents an important step in the promotion of the spirit of transparency and away from corruption.
For its part, the World Bank stressed that the objective of all the agreements signed with Iraq, to improve the process of government financial spending and management of financial resources in a proper and thoughtful and coordinated.
World Bank representative in Iraq Yara Salem said that the agreement signed today aims to "modernize financial information systems and manage resources in Iraq and enhance government accountability and transparency by working with institutions of governance and accountability and strengthening their capabilities."
"We will be signing 14.5 million euros, equivalent to 18 million dollars, to complement the 41.5 million euros public financial management systems modernization program launched by the World Bank in 2017," she said.
The European Union Ambassador in Iraq, Ramon Belkwa, said that "this program comes to address the problems of accounting accountability in the public finance system, and will solve many problems and the most important problem of corruption," adding that "it will address corruption by focusing on points Weakness in the system ".
"What we want to achieve in this project is to achieve integration with the new Iraqi government in order to treat some systems and tackle corruption," he said. .
The Undersecretary of the Ministry of Finance and Planning, d. Maher Johan, believes that the agreement reflects "one of the axes of economic reform as we are working on the subject of automating systems and strengthening control of the movement of funds and finding mechanisms for the most efficient use of this money at the investment or operational level," stressing that "we need to go quickly to resolve Problems of financial management in Iraq ".
The head of the National Investment Authority, Sami Araji, the agreement is "very important," revealing at the same time the latter twinning between fiscal and monetary policy in Iraq, as he put it.
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Planning: We are working with the World Bank on a project that will change all the joints of financi
by Rocky Mon 17 Sep 2018, 4:08 am
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Planning: We are working with the World Bank on a project that will change all the joints of financial management in Iraq
Planning: We are working with the World Bank on a project that will change all the joints of financial management in Iraq
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BAGHDAD (Reuters)
- Iraq is working with the World Bank to sign a loan to boost its financial management, Undersecretary of Finance and Planning Maher Johan said on Monday.
"Iraq is working with the World Bank to contract a loan to carry out a basic task, which is to strengthen financial management," Johann said. "The program has reached a good stage of contracting and is a key axis of economic reform."
"Iraq is working on the governance of the systems to control the movement of funds and find mechanisms to use the most efficient at the level of investment or operational."
"There is a pilot model for five ministries as well as provinces and ministries of finance and planning," he said.
"The European Union is a key partner in all the tasks, so when the project is found in its direction to support governance, it was a key partner to strengthen oversight in institutions," he said. "It is important to move forward quickly because it is very important to change all aspects of life in financial management in Iraq."
The EU mission and the World Bank representative in Iraq signed a financing agreement with Iraq for a 15.6 million euro package to "strengthen Iraq's public finance management and oversight institutions".
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Finance announces World Bank funding to modernize public financial management systems
by Rocky Mon 17 Sep 2018, 5:47 am
Finance announces World Bank funding to modernize public financial management systems
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The Ministry of Finance announced that it has received funding from the World Bank to modernize public financial management systems, confirming that it intends to allocate part of the loan for disbursement of advisory services.
The Ministry of Finance, in a statement published on its website under the title "Project Management and Financial Modernization Project," did not disclose the size of the financial loan, but it is looking for someone who is responsible for the supply.
"The Republic of Iraq has received funding from the World Bank for the cost of the modernization project of public financial management systems and intends to implement part of the loan allocations for disbursement of advisory services may be sought," the ministry said in a statement read by the Economist News.
"The Procurement Officer will be responsible for the initial design and implementation of the IFMIS system , capacity building for public financial management, modernization of the internal audit of the Ministry of Finance, public financial management systems at the local level, project management and reform coordination."
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weslin3- Interacting Investor
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All of these articles looks like progress to get the financial system up and running... Thanks rocky.. Very promising..
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Video: An agreement between Iraq and the World Bank to support regulatory institutions
by Rocky Mon 17 Sep 2018, 8:38 am
Video: An agreement between Iraq and the World Bank to support regulatory institutions
Monday 17 September
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Worth fifteen intervals of six million euros, signed Iraq 's agreement with the European Union and the World Bank to strengthen control over the management of public resources in Iraq, was signed in the presence of a number of local and foreign economic figures.
Iraq, according to specialists, suffers from major administrative problems, especially with regard to the management of Iraqi resources, which are estimated at millions of dollars in imports.
And worsened the debts of Iraq, especially after the year of fourteen and fourteen, reaching by the International Monetary Fund at the end of this year to one hundred and thirty billion dollars, with domestic revenues amounting to one hundred and four hundred and seventy billion dollars, while the proportion of debt, one and sixty percent of those Imports.
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