Wednesday, March 30, 2011

World Bank: Diversification of the Iraqi economy and the development of its private sector and of completion of projects

As Iraq seeks to develop a reality development has and work to revive the economic aspects of the task, according to an official source at the World Bank that the strategy the next to be implemented in Iraq include working to stimulate and accelerate the capacity to implement projects filial task such as water, electricity and improve the living conditions of citizens and the elimination of unemployment and create opportunities work for the unemployed, and activating the private sector and assistance to enable him to complete projects and accomplish the task ..
The head of the bank in the Middle East and Iraq, the Pacific Arab Speaking (morning) to diversify the economy of Iraq through support of projects and the private sector has become the most prominent aspires to achieve the World Bank in Iraq during the coming period, stressing that the Iraqi economy can not be for him to grow and develop through the provision fully on the sale of world oil, which called for an international strategy aimed at reviving a large number of aspects of productivity in the country to diversify its economy and enable it to rise and face many of the pitfalls suffered by the words of the Arab ..
He also said that the Arab Bank was working in earnest on the development of industrial and agricultural sectors and tourism in the country that the Bank is convinced that these sectors are able to meet many of the requirements of economic growth, particularly the elimination of unemployment and increasing fiscal revenue ..
And on the process of linking the Central Bank of the government directly and its impact on the Iraqi funds abroad, said the Arab could bring more coordination between the central and the rest of the bodies in the resolution in order to reach the best practical results, which is said by Arab that does not affect the Iraqi funds in the international banks, and between the Arab that the World Bank listened carefully to many views on the passport to link the central government of Iraq or not, adding that Iraqi law does not provide for control of funds and supervision of those institutions fully by the government but the states regulate the coordination among them, is a matter not affecting the work of the Central further finds Arab ..
He hinted that the Arab bodies, financial institutions and independent administrative in all countries should have to remain so, but the Arab stressed that the process of independence that does not prevent the creation of a coordination and integration, particularly in economic policy-making and social Felt ..
Arab also denied that the World Bank had previously pressed the Iraqi government to raise subsidies on some products or for ration, saying that the bank’s efforts to the contrary comes from it. And said: “The International is now working actively to provide technical and logistical support to the Ministry of Commerce to strengthen the capacity of the ration card and delivery is seamless to the citizen ..
He expressed the Arab Bank is ready to provide various kinds of financial and economic support for Iraq, saying the bank is convinced of the possibilities and experiences of Iraq, which said it had a large and capable of promoting the country ..
The World Bank plans to conduct a survey of private sector companies in Iraq, in order to assess the business climate and investment through an interview with about a thousand companies operating in the sectors of industry and services.
The World Bank has contracted with an Iraqi company for the implementation of the survey for the period from this March to July next year, and companies will be selected at random to ensure the safety of the representativeness of the results across the country.
It is expected the emergence of the preliminary results of the survey in September to be the next light make recommendations to the Iraqi government to encourage investment and increase economic growth rates in Iraq.
The World Bank has provided the morning earlier in the platform of the future which will hopefully be implemented in Iraq, and the program is seeking to implement 26 projects investment and technical assistance for a total cost of 953.8 million dollars and include the development of governance and the private sector and financial reforms, banking and the provision of basic services such as education and health social protection and improvement of infrastructure such as energy and water ..

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