world bank approves 12bn loan to support iraq
Last Updated : GMT 13:03:42
Arab Today, arab today
Arab Today, arab today

World Bank approves $1.2bn loan to support Iraq

Arab Today, arab today

Arab Today, arab today World Bank approves $1.2bn loan to support Iraq

World bank
Cairo - MENA

A $1.2 billion loan will support Iraq in strengthening fiscal stabilization and improving efficiency in the energy sector to help counter the effects of the drop in oil prices and rising security costs, the World Bank said on Friday.

The World Bank Group's Board of Directors acknowledged the Government of Iraq's engagement in a rigorous reform program and approved the Emergency Fiscal Stabilization, Energy Sustainability and State-Owned Enterprise Transparency Development Policy Financing.

The operation is aligned with the Government's recovery blueprint for 2015-2018, that commits to reforms to achieve inclusive growth, efficient service delivery and improved social protection.

"The World Bank's support for the current reform momentum in Iraq is very important at this critical time as the country grapples with long standing challenges in the financial sector, public financial management and energy efficiency and security," World Bank Director for the Mashreq Region Ferid Belhaj said.

The proposed operation will focus on reforms in three areas. Reforming the public wage system by reducing the highest salaries and increasing the lowest ones will improve expenditure allocation. There will also be reforms in public investment and debt management, and the pension scheme. Reducing gas flaring, expanding gas-to-power generation and reducing electricity subsidies will help support more sustainable energy supply. A third area of reform focuses on addressing the lack of transparency among financial and non-financial state-owned enterprises.

The support to Iraq is very much in line with the World Bank's strategy for the Middle East and North Africa, which was launched in October. This strategy builds on four pillars: Renewing the social contract in fragile states in the region; Regional cooperation; Resilience to refugee shocks; and Reconstruction and Recovery where needed. And to achieve these goals, calculated risk taking in countries such as Iraq is required.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank approves 12bn loan to support iraq world bank approves 12bn loan to support iraq

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank approves 12bn loan to support iraq world bank approves 12bn loan to support iraq

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday