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[size=36]Al-Sudani approves the governance guide for the Iraq Development Fund[/size]
Local | 01:49 - 09/16/2024
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Mawazine News - Baghdad
The Prime Minister's Office announced today, Monday, the approval of the governance guide for the Iraq Development Fund.
A statement from the office received by Mawazine News stated that "Prime Minister Mohammed Shia al-Sudani chaired the periodic meeting of the Board of Directors of the Iraq Development Fund."
During the meeting, the Prime Minister pointed out "the importance of continuing the fund's work according to the planned vision, and in line with the expectations of international financial institutions, in order to attract investors from inside and outside Iraq."
He pointed to "the housing and school construction projects that are on their way to implementation, stressing the need to work according to the new approach that the government seeks to implement, which is to purchase services from investors instead of the state taking over the implementation."
He explained that "the meeting approved the governance guide for the Iraq Development Fund, after making amendments to it and discussing the mechanisms and policies of the fund's future work, based on this guide, which constitutes a comprehensive framework for good governance, and aims to ensure effective and sustainable management of the fund's assets, in line with the national objectives of its establishment and a working method that is in line with the best international practices in the field of sovereign and development funds; to ensure achieving the highest levels of integrity, transparency and efficiency in all its investments."
The statement continued, "The meeting discussed the mechanisms for transferring ownership of schools from the fund to the Ministry of Education and the accounting treatment for it, as well as the Ministry of Finance handling the guarantee of purchasing services from investors."
A statement from the office received by Mawazine News stated that "Prime Minister Mohammed Shia al-Sudani chaired the periodic meeting of the Board of Directors of the Iraq Development Fund."
During the meeting, the Prime Minister pointed out "the importance of continuing the fund's work according to the planned vision, and in line with the expectations of international financial institutions, in order to attract investors from inside and outside Iraq."
He pointed to "the housing and school construction projects that are on their way to implementation, stressing the need to work according to the new approach that the government seeks to implement, which is to purchase services from investors instead of the state taking over the implementation."
He explained that "the meeting approved the governance guide for the Iraq Development Fund, after making amendments to it and discussing the mechanisms and policies of the fund's future work, based on this guide, which constitutes a comprehensive framework for good governance, and aims to ensure effective and sustainable management of the fund's assets, in line with the national objectives of its establishment and a working method that is in line with the best international practices in the field of sovereign and development funds; to ensure achieving the highest levels of integrity, transparency and efficiency in all its investments."
The statement continued, "The meeting discussed the mechanisms for transferring ownership of schools from the fund to the Ministry of Education and the accounting treatment for it, as well as the Ministry of Finance handling the guarantee of purchasing services from investors."
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