The United Nations Industrial Development Organization (UNIDO) will launch in January a EUR 3 million technical cooperation project in Iraq to develop industrial zones and enhance investment in the country.
The two-year project will be funded by the Government of Italy, and implemented in coordination with the World Bank.
An agreement on the funding was signed in Vienna today by UNIDO Director-General, Kandeh K. Yumkella, and the Permanent Representative of Italy to UNIDO, Ambassador Gianni Ghisi.
Iraqi Chargé d'Affaires, Abdulkarim M. Shwaikh, who attended the ceremony, expressed his gratitude to the Government of Italy for its financial commitments and to UNIDO for its technical assistance.
Under the project, UNIDO will help enhance the capacity of the Iraqi Government in planning, designing and promoting industrial zones in a sustainable manner. This will include the establishment of an inter-agency coordination mechanism, the drafting of a comprehensive roadmap on industrial zone development, as well as capacity-building activities for counterpart institutions. The project will also facilitate the establishment of industrial zones in two pre-determined areas in order to revitalize the private sector in those areas and rehabilitate the local economy.