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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: Iraq will need 233 billion dollars to meet climate challenges

    Rocky
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    World Bank: Iraq will need 233 billion dollars to meet climate challenges Empty World Bank: Iraq will need 233 billion dollars to meet climate challenges

    Post by Rocky Tue 13 Dec 2022, 5:36 am

    World Bank: Iraq will need 233 billion dollars to meet climate challenges



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    2022-12-13 04:07

    Shafaq News/ The World Bank said today, Tuesday, that Iraq is facing an urgent climate challenge, and to face it, it must move towards a "greener and more environmentally friendly" development model, especially by diversifying its economy and reducing its dependence on carbon.
    This came in a new report published by the Bank today on Iraq.



    According to the report, by the year 2040, "Iraq will need $233 billion in investments to respond to its most urgent development needs as it embarks on a greener and more inclusive growth field," which is equivalent to 6% of its annual GDP.
    Iraq is among the five countries most vulnerable to the consequences of climate change, according to the United Nations. Decades of conflict have also affected the country's infrastructure and economy, which is highly dependent on oil, which accounts for 90% of revenues.
    On Monday, the World Bank presented the report to the Iraqi authorities during a meeting in Baghdad, and it provides "an analytical basis for addressing the country's most urgent development needs, while simultaneously facing climate challenges," according to a statement issued by the organization on Tuesday.
    In addition, the report "examines the cost of the country's transition to a low-carbon economy, and discusses opportunities and reforms to pursue a greener growth model."
    "Iraq faces three basic challenges: the water challenge, the desertification challenge, and the air pollution challenge," said Farid Belhadj, World Bank deputy director for the Middle East and North Africa, in an interview with France Press on the sidelines of the meeting held in Baghdad and attended by officials from the Iraqi government.
    "We are trying to propose to the authorities reforms and policies," Belhadj added, adding that Iraq "has enough resources to be able to manage these challenges," but "the issue is about how to ensure that these financial resources are put in place to serve new policies to manage climate challenges."
    The report presents a set of recommendations and reforms that Iraq can undertake in the medium term (within five to ten years) and others in the long term, which will not take effect until after 2030.
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