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Parliament discusses with the World Bank the financing of projects and the transition towards the electronic system in financial transactions
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Economy News / Baghdad
On Sunday, the Finance Committee of the House of Representatives hosted a World Bank delegation to follow up on loans for projects financed by the Bank within the Federal Budget Law for the year 2023, and the mechanism for automating the financial system in the country.
The Finance Committee discussed ways to find appropriate solutions to implement the projects signed with the World Bank and how to finance spending units, in addition to reviewing the implementation of projects in Iraq and accelerating their pace, as well as the need to maximize revenues by switching from the paper system to the electronic system. According to the media of the House of Representatives.
The Committee listened to the World Bank delegation on its visit to the Ministry of Finance related to project financing for expenditure units and disbursement of loans in this regard, as well as being briefed on the vision of the Ministry of Finance on completing the agreed points in accordance with the new vision of the Ministry, where the delegation indicated the existence of the appropriate ground to achieve the steps of implementing projects, stressing its full commitment to provide [You must be registered and logged in to see this link.] and assistance to automate public financial management in Iraq and achieve progress.
The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system (IFMS), submitting a full budget and preparing final accounts reports for the draft budget.
At the end of the meeting, the Parliamentary Finance Committee affirmed its aspiration to "shift from the paper system to the electronic system to make progress in modern financial transactions and prepare an integrated project in this regard."
[You must be registered and logged in to see this link.]
On Sunday, the Finance Committee of the House of Representatives hosted a World Bank delegation to follow up on loans for projects financed by the Bank within the Federal Budget Law for the year 2023, and the mechanism for automating the financial system in the country.
The Finance Committee discussed ways to find appropriate solutions to implement the projects signed with the World Bank and how to finance spending units, in addition to reviewing the implementation of projects in Iraq and accelerating their pace, as well as the need to maximize revenues by switching from the paper system to the electronic system. According to the media of the House of Representatives.
The Committee listened to the World Bank delegation on its visit to the Ministry of Finance related to project financing for expenditure units and disbursement of loans in this regard, as well as being briefed on the vision of the Ministry of Finance on completing the agreed points in accordance with the new vision of the Ministry, where the delegation indicated the existence of the appropriate ground to achieve the steps of implementing projects, stressing its full commitment to provide [You must be registered and logged in to see this link.] and assistance to automate public financial management in Iraq and achieve progress.
The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system (IFMS), submitting a full budget and preparing final accounts reports for the draft budget.
At the end of the meeting, the Parliamentary Finance Committee affirmed its aspiration to "shift from the paper system to the electronic system to make progress in modern financial transactions and prepare an integrated project in this regard."
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Added 03/26/2023 - 5:12 PM
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