The World Bank Group is bringing its global expertise in socio-economic development to the Kurdistan Regional Government-Iraq (KRG) through four technical assistance agreements signed between the two partners in Erbil on (DATE). Theactivities are aligned with the KRG’s Vision 2020, whose aim is to allow of the people in KRG to enjoy the benefits of freedom,health, welfare, and economicsecurity and opportunity.

The signing ceremony took place duringa visit by the World Bank Mashreq Director, FeridBelhaj, to KRG, for meetings with Government officials, including the Prime Minister, and other Government counterparts to further strengthen cooperation between the two partners.

KRG Minister of Planning H.E. Dr. Ali Sindi signed the agreement withMr. FeridBelhaj, culminating a solid partnership that has been deepening over the past few years under a comprehensive technical cooperation program that aims to endextreme poverty and boostshared prosperityfor the region’s population. 

“The technical cooperation program comes at a particularly critical time for KRG and in Iraq in general,” saidSindi, praising the existing cooperation with the Bank.

The four agreements will address social protection, procurement, growth analysis and support for KRG’s Shura Council, an institution of experts tasked with vetting projects in the region. A study on growth potential will be conducted to analyze the drivers and sources of economic activity in the Kurdistan region. This would help inform policymakers on sustainable growth in non-oil sectors, and the prospects ofemployment opportunities.

The social protection program would establish a framework for policies that would bring more equity in the standards of living in KRG, thus reducing vulnerability and promoting shared prosperity. This entails identifying segments of society that are most susceptible to social and economic shocks, devising the appropriate policies that would protect people against these shocks.

The assistance on procurement will enable the KRG to modernize its public procurement system and strengthen its management and oversight, especially in terms of effective management, transparency, and accountability

The World Bank will also support the KRG Shura Council’s capacity for case management development, organizational structureand human resource administration.

“As part of these efforts, the World Bank will expose the KRG to goodpractices around the world and international standards in the selected areas”, explained Belhaj. “These activities will strengthen the resilience of the population against exogenous and indigenous shocks in these times of uncertainty.”

Contacts:

In Washington: Lara Saade, 202-473-9887,lsaade@worldbank.org

In Beirut:Mona Ziade,+961-1-987800 (ext 239) mziade@worldbank.org

For Broadcast Requests: Mehreen Sheikh, (202) 458-7336, msheikh1@worldbankgroup.org

For more information, please visit: www.worldbank.org

Visit us on Facebook: https://www.facebook.com/WorldBankMiddleEastNorthAfrica

Be updated via Twitter: http://www.twitter.com/worldbankmena

For our YouTube channel: http://www.youtube.com/worldbank

News Release

2015/MNA/REGION