Its importance in supporting and activating the private sector was identified... Planning: The Iraq

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[size=52]Its importance in supporting and activating the private sector was identified... Planning: The Iraq Fund for Development will contribute to creating an attractive environment for local and foreign investments.[/size]

[size=45]It identified its importance in supporting and activating the private sector... Planning for “Al-Zawraa”: The Iraq Fund for Development will contribute to creating an attractive environment for local and foreign investments
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02/16/2024
Hussein Falih:
The Ministry of Planning confirmed that the Iraq Fund for Development will contribute to creating an attractive environment for local and foreign investments While identifying its importance in supporting and activating private sector projects.
Ministry spokesman Abdul Zahra Al-Hindawi said in an interview with “Al-Zawraa”: The establishment of the Iraq Fund for Development came in complete harmony with the government’s directions to develop and empower the private sector, as it will contribute to creating an investment environment that is attractive to investments. It will also contribute to attracting the capital available in the private sector and using it in projects. Investment and strategy.
He added that the entire projects will pass through the Ministry of Planning, as it is responsible for listing and providing listing requirements and feasibility studies for the projects.
For his part, the Executive Director of the Iraq Fund for Development, Muhammad Al-Najjar, said in a press statement: “The first meeting of this year was held for the Board of Directors of the Development Fund, where the focus was on a basic topic, which is the schools project, as Iraq currently needs 8,000 schools and with the increase in population.” We will need to add a large number of schools annually, and in addition to that, 5% of the schools already established need to be rehabilitated annually.”
He added, “The Iraq Fund for Development was established in the budget and its primary goal was to introduce the private sector into vital strategic projects for the state, and in return, the Iraq Fund provides incentive guarantees to investors.”
He continued, “The guarantees are based on a basic idea, which is (the rental fund) for a long period, whereby the private sector undertakes the task of building the school with a prior contract with the Iraq Fund for Development that guarantees it access to the money it spends by leasing the school to the state after its construction for a period of time of up to 10 or 11 years depending.” The size and size of the school.”
He pointed out that “the investor will recover what he spent over a period of time, and additional amounts will be added as profits as well under the lease contract. This contract will provide the state with the flexibility that the size of what it pays to establish one school, for example, is sufficient to rent 13 schools, provided that those schools will transfer to the state after the end of the contracts.” .
He stated, “This will contribute to the creation of job opportunities and the entry of large financing from the private sector to build schools, and at the same time gives the Fund the opportunity for these investments to take their role in the economy,” pointing out that “there are multiple plans and we seek to benefit the Iraqi investor, as there are other proposals for foreign investors.” Arabs said that the financial returns encouraged many to enter this field.”
He stressed, “We are talking annually about the work of 1,000 or 2,000 schools, but if some investments are attracted from abroad, this will help a lot in building a larger number of schools annually,” pointing out that “there are 1,500 schools throughout Iraq, which are between caravanserais and muddy and about to collapse, and they will be presented as a package.” It is distributed to investors located in those school areas.”
He stressed that “it is possible to give the investor an additional year or two to invest in the poorest areas, with the aim of increasing his profit to be an incentive for him to invest in these poor areas,” stressing “the need to encourage investors to invest in other ways.”
Al-Najjar stated, “We have a large group of modern designs and international specifications for constructing these schools, and the most prominent conditions are environmental specifications and modern building materials, because most schools in the summer are very hot, and operating air conditioning in them is expensive,” explaining, “We are moving to use environmentally friendly materials that reduce the heat in the air.” Inside".[/size]
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