A new type of relationship between the Iraqi and international banks

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A new type of relationship between the Iraqi and international banks 



06/26/2013
 

 
 Baghdad / Mashreq follow: - The head of the advisers in the prime minister Thamer Ghadban said Iraq's relationship with the World Bank after the security and political development in the country will take a new pattern in accordance with the Bank's new strategy.

 He angered during a meeting held at the headquarters of the advisers in the Presidency of the Council of Ministers to follow up on projects funded by the World Bank in the presence of the President of the country team for the World Bank in Iraq, Mary Helen and representatives of the Ministries of Finance, Planning and Construction and Housing, Education and Municipalities and Public Works and the Municipality of Baghdad, along with a number of experts and advisers body, according to a press release of the advisers: the new strategy of the World Bank will be in accordance with the two main hubs loans International Bank for Reconstruction and Development (IBRD) and technical assistance expenses paid (RTA).

 He pointed out: that the World Bank assistance to Iraq amounted to about $ 495 million of grant projects and 508 million dollars in loans from the IDA, noting: that the meeting values ​​the experience with the World Bank since 2003, marked by the implementation of projects financed by providing loans, grants and capacity building, as well as to benefit from the lessons learned from that experience.

 For its part, provided the World Bank representative clarification about the most important achievements of the bank through the lessons learned in 2009, which was submitted in 2012, which summarizes the results of the study of the International Fund for the reconstruction of Iraq (IRFFI), as well as give donors responsibility annex International and the need to give importance to the results of isolation from the implementation.

 During the meeting, they reviewed the pros and problems by some ministries, including problems concerning the provision of land for projects and legal problems, and the need to end all details related to before the start of the project to avoid delays in delivery, with an emphasis on the need for cooperation between the ministries concerned.

 Have also been identified pros represented by easily and clarity and coherence of standard documents used during the contracting process, as well as financial measures that characterized by transparency and speed in order to avoid bureaucratic According to reports, the amounts spent on projects by the ministries to the end of 2012 amounted to about $ 430 million.

 Thus, the monitoring committee of World Bank projects have been completed its work, where will close the World Bank on June 30, 2013 his works that have been completed in the manner described above and will begin a new phase between him and Iraq, according to a strategic cooperation for three years approved by the Council of Ministers agreed on the way up again.

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Oh isn't this interesting...I almost missed it...thanks all!!! :D

Thus, the monitoring committee of World Bank projects have been completed its work, where will close the World Bank on June 30, 2013 his works that have been completed in the manner described above and will begin a new phase between him and Iraq

Very Interesting Indeed, It does make ya wonder though exactly what does completed mean? Come on Sunday!!