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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    World Bank: The Bank's portfolio in Iraq includes $2 billion

    Rocky
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    World Bank: The Bank's portfolio in Iraq includes $2 billion Empty World Bank: The Bank's portfolio in Iraq includes $2 billion

    Post by Rocky Wed 02 Jun 2021, 7:30 am

    World Bank: The Bank's portfolio in Iraq includes $2 billion

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    The head of the World Bank office in Iraq, Ramzi Noman, confirmed that the bank's plans in Iraq aim to implement many projects in various sectors, indicating that the bank's portfolio in Iraq includes two billion dollars.
    Noman said in a statement to state television, seen by "Economy News", that "the World Bank has in Iraq a portfolio of $2 billion that covers different sectors."
    He added, "Therefore, we consider ourselves essential partners" with Iraq in achieving economic development.
    The head of the World Bank office in Iraq indicated that "the bank's policy is not limited to consulting and financing, but includes the implementation of various projects in the sectors of electricity, transportation, health" and other projects.
    The World Bank held a conference in Baghdad with the participation of Iraqi officials from various sectors to discuss ways to develop the Iraqi economy and support groups of society.
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    World Bank: The Bank's portfolio in Iraq includes $2 billion Empty World Bank: 5 million Iraqis are at risk of poverty

    Post by Rocky Wed 02 Jun 2021, 7:42 am


    [size=30]World Bank: 5 million Iraqis are at risk of poverty


    2021-06-02
    [/size]
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    Yes Iraq: Baghdad

    The World Bank revealed that about 2.7 to 5 million Iraqis are threatened with poverty as a result of the Corona pandemic and the drop in the price of a barrel of oil, and while confirming its intention to provide support to Iraq to purchase additional vaccines against Corona, he indicated that there is a portfolio of 1.8 billion dollars to support multiple sectors in Iraq.
     
    Dr. Wael Mansour, Senior Economist of the World Bank, said in an interview with the official agency, that “the World Bank has nothing to do with determining the exchange rate in any of the countries it deals with,” noting that “the World Bank has no position regarding changing the exchange rate in Iraq.” He did not talk about it with any Iraqi party, whether it was the government, the central bank or the parliament, but the decision is sovereign with distinction.
     
    Exchange prices
     
    He added, "The Bank looks at these prices from an economic perspective, and sees if the downward or upward movement helps increase the country's competitiveness and growth, and this is not a unilateral measure that should accompany other reforms related to economic growth and investments in infrastructure and human capital."
     
    He pointed out that “the financial budget resources from outside the oil sector are estimated at an average of 8% of the total budget resources,” stressing “the need to proceed with real reforms, as in the white paper proposed by the government, including improving collection from customs and taxes, and how to benefit from these resources to increase revenues.” non-oil.”
     
    He continued, "This requires a plan to increase the fiscal space for the state to invest these resources in strategic sectors such as education, health, social protection and infrastructure. Non-oil revenues must be raised to meet the needs and provide quality public services to citizens, and the need for policies and investments should not be overlooked." in environmental sustainability, especially as the future is heading towards the so-called green growth.”
     
    Diversified wallet
     
    Regarding loans, he pointed out that “the World Bank did not grant this year any new loan to Iraq,” noting that “there is a diversified financial portfolio estimated at $1.8 billion of projects in multiple sectors, including the reconstruction of areas liberated from ISIS, including for the sectors of electricity, education, health and aid. Technology for the ministries of finance, planning and social safety nets.
     
    He added, "We always look forward to working with the Iraqi government in case it requests new projects," noting that "the World Bank is moving forward with a project that helps speed up the vaccination process by bringing in additional quantities of vaccines so that Iraq can confront the pandemic, and we are always by Iraq's side." When asking for new projects.
     
    downturn in the economy
     
    He explained, "Iraq suffered two shocks during the year 2020, one stemming from the drop in oil prices, and the other due to the Corona pandemic," stressing that "the World Bank estimated the contraction of the Iraqi economy during the past year by 10.3%, due to the contraction of oil production as a result of the OPEC + agreement, as well as the pandemic." Which affected the service sector, which represents about a third of the Iraqi national economy, due to frequent closures.”
     
    He pointed out that “the Corona pandemic and the drop in the oil price have affected poverty rates and raised them between seven to fourteen percentage points, or about 2.7 to 5 million Iraqis who are threatened with poverty as a result of the pandemic and the fluctuation of the oil price.”
     
    Speed ​​up the pollination process عملية
     
    He indicated that “the World Bank is now in the process of discussing with the Iraqi government the issue of accelerating the vaccination process, purchasing additional quantities of vaccines, and supporting the health sector to confront this pandemic, and through our current portfolio, we are helping with issues related to growth so that the Iraqi economy can recover quickly, especially the recovery of the private bottom.”
     
    Conditions for granting loans
     
    Mansour indicated that "the World Bank does not impose sovereign conditions on any country in return for granting it loans," stressing that "the bank's mechanism for granting loans depends on three things. The first relates to the economic, social and environmental feasibility of the project. The return must be high."
     
    He continued: “As for the second, there are caveats related to governance. We stress the issue of governance, especially those related to the projects that we finance, if it is in terms of combating corruption, transparency and access to information in order to avoid any obstacles or problems,” noting that “the third is related to the request of any government to support the budget, so the condition There, it will be accompanied by a clear reform plan, and the macroeconomic framework must be sustainable in order to ensure that such a loan actually contributes to confronting any crisis that arises or contributes to growth or reducing poverty rates.”
     
    Iraq is not a bankrupt country
     
    He stressed that “Iraq is not a bankrupt country as it is the fourth largest oil-producing country and has great economic and human capabilities, and a large market, but Iraq suffers from economic structural problems, including excessive dependence on the oil sector, which constitutes 95% of its exports and 90% of budget revenues, It also constitutes about 60% of the real economy, so any fluctuation and decline in oil prices leads to financial obstacles and a deterioration in growth.”
     
    white paper
     
    He went on to say: “Iraq also suffers from an inflated size of the public sector in the economy, losses in the electricity sector, which requires increasing support every year, and a weakness in the volume and type of public and private investment,” stressing that “Iraq is aware of these obstacles and has already begun focusing on solutions. to these structural problems.
     
    He concluded by saying: "The solutions were mentioned in the white paper, and this is an ambitious plan for reform, as it accurately diagnoses the economic problem in Iraq, and we hope that Iraqi officials will speed up its implementation."
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    World Bank: The Bank's portfolio in Iraq includes $2 billion Empty $12 billion from the World Bank to fund vaccines in developing countries

    Post by Rocky Wed 02 Jun 2021, 7:44 am


    [size=30]$12 billion from the World Bank to fund vaccines in developing countries


    2021-06-02
    [/size]
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    Yes Iraq: Follow up

    World Bank President David Malpass announced, on Wednesday, that the bank has a $12 billion package earmarked for financing vaccines, tests and drugs for the “Corona” virus in developing countries.
    Malpass added, in a joint press conference with the heads of the World Health Organization, the International Monetary Fund and the World Trade Organization, that he "will agree to financing vaccination operations in more than 50 countries by the end of this June.
    He stressed the need to "accelerate the supply chain for the distribution of vaccines, including shortening the manufacturing period, approvals, and the process of distributing doses that have already been produced."
    Malpass indicated that “we are expanding our rapid approach to responding to emergencies faced by developing countries, due to the Corona epidemic, so that they can have fair and equitable access to vaccines, and that access to safe and effective vaccines, and the presence of strengthened systems to provide this service is the element “The key to changing the course of this pandemic and helping countries with catastrophic economic and fiscal impacts move toward building a resilient recovery.”
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    World Bank: The Bank's portfolio in Iraq includes $2 billion Empty THE WORLD BANK: FIVE MILLION IRAQIS ARE THREATENED WITH POVERTY, AND WE HAVE NOTHING TO DO WITH THE

    Post by Rocky Wed 02 Jun 2021, 8:18 am

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    [You must be registered and logged in to see this image.][You must be registered and logged in to see this link.]3 hours ago39

    Today, Wednesday, the World Bank said that about 2.7 to 5 million Iraqis are threatened with poverty as a result of the Corona pandemic and the drop in the price of a barrel of oil.
    Dr. Wael Mansour, Senior Economist of the World Bank, said in a press interview, “The World Bank has nothing to do with determining the exchange rate in any of the countries it deals with,” noting that “the World Bank has no position regarding changing the exchange rate in Iraq and did not speak.” It is with any Iraqi party, whether it is the government, the central bank or the parliament, but the decision is sovereign with distinction.”
    He added, "The bank looks at these prices from an economic perspective, and sees whether the downward or upward movement helps increase the country's competitiveness and growth, and this is not a unilateral measure that should accompany other reforms related to economic growth and investments in infrastructure and human capital."
    He pointed out that "the financial budget resources from outside the oil sector are estimated at 8% of the total budget resources," stressing "the need to proceed with real reforms, as in the white paper proposed by the government, including improving collection from customs and taxes, and how to benefit from these resources to increase revenues." non-oil.
    He continued, "This requires a plan to increase the fiscal space for the state to invest these resources in strategic sectors such as education, health, social protection and infrastructure. Non-oil revenues must be raised to meet the needs and provide quality public services to citizens, and the need for policies and investments should not be overlooked." in environmental sustainability, especially as the future is heading towards the so-called green growth.”
    He explained, "Iraq suffered two shocks during the year 2020, one stemming from the drop in oil prices, and the other due to the Corona pandemic," stressing that "the World Bank estimated the contraction of the Iraqi economy during the past year by 10.3%, due to the contraction of oil production as a result of the OPEC + agreement, as well as the pandemic." Which affected the service sector, which represents about a third of the Iraqi national economy, due to frequent closures.
    He pointed out that "the Corona pandemic and the drop in the oil price have affected poverty rates and raised them between seven to fourteen percentage points, or about 2.7 to 5 million Iraqis who are threatened with poverty as a result of the pandemic and the fluctuation of the oil price."
    He stressed that "Iraq is not a bankrupt country as it is the fourth largest oil-producing country and has great economic and human capabilities, and a large market, but Iraq suffers from economic structural problems, including excessive dependence on the oil sector, which constitutes 95% of its exports and 90% of budget revenues, as well as It constitutes about 60% of the real economy, so any fluctuation and decline in oil prices leads to financial obstacles and a deterioration in growth.”
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