“This is the first ever full country partnership strategy between the World Bank and the Iraqi Government,” said Belhaj. “It will allow the World Bank to align its program of support over the next four years with the government’s National Development Plan.”
As a conflict-affected state, Iraq remains fragile, and its economy is dominated by a large public sector due to a legacy of centralization. Proper management of Iraq’s vast oil wealth and human resources, coupled with a conducive and efficient investment climate, will be key to inclusive growth and job creation. The Bank strategy focuses on improving governance and social inclusion and supporting economic diversification for broadly shared prosperity with a particular focus on the inclusion of women.
“This is an excellent opportunity for the Government of Iraq to lay the foundation for a modern, prosperous Iraq, where all citizens can share in the prosperity brought by the country’s abundant oil wealth and a strong and diversified economy,” said Marie-Hélène Bricknell, World Bank Special Representative in Iraq.
The strategy was prepared jointly by the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation (IFC), the private sector arm of the World Bank Group and the Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group. The strategy, with its built-in flexibility and adaptability to changing realities on the ground, will guide the World Bank Group’s business in Iraq through 2016.
Let these clowns revalue their currency and they will be a lender instead of a vagrant begger. Iraq never misses an opportunity to miss an opportunity to advance. It's like watching a group of village idiots doing Shakespeare.
You would think the would bank would not give a billion dollars to a country with the means to RV it's currency to have more wealth than the rest of the world combined.