By John Lee.
Iraq's Prime Minister, Mohammed Shia' Al-Sudani, presided over a regular meeting of the Iraq Development Fund's Board of Directors.
During the meeting, Al-Sudani emphasized the importance of the fund operating in line with international financial expectations to attract both domestic and foreign investors. He highlighted ongoing housing and school construction projects, reinforcing the government's strategy of purchasing services from private investors rather than directly executing projects.
The board approved a revised governance framework for the Development Fund, aiming to ensure efficient, transparent management aligned with global best practices for sovereign and development funds. Discussions also focused on transferring ownership of schools from the fund to the Ministry of Education and ensuring financial accountability for service procurement by the Ministry of Finance.
(Source: PMO)
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