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Empowering All Abilities: Iraq's First Forum for Disability Inclusion

The United Nations Development Programme (UNDP), in collaboration with the Ministry of Labour and Social Affairs and the United States Agency for International Development (USAID), has announced the successful conclusion of the First National Forum for Empowering People with Disabilities.

Held under the patronage of His Excellency the Prime Minister of Iraq, Eng. Mohammed Shiaa Al-Sudani, the forum was a significant step towards creating a more inclusive society in Iraq.

The event brought together diverse voices from government, private sector, civil society, academia, and local communities. It provided a platform for discussing the challenges faced by individuals with disabilities and exploring ways to enhance their vocational rehabilitation and economic empowerment.

Ahmed Alasadi, Minister of Labour and Social Affairs, said:

"Our ministry is committed to improving the lives of individuals with disabilities through innovative initiatives and partnerships. This forum highlights our efforts and paves the way for new collaborations to further enhance the economic empowerment of people with disabilities in Iraq."

Auke Lootsma, UNDP Iraq Resident Representative, said:

"This forum is a vital step in championing the rights and opportunities for people with disabilities in Iraq. By coming together, we hope to make this forum a turning point in our journey towards social and economic empowerment for all and leave no one behind."

The forum focused on key topics such as using modern technology in education and training, integrating individuals with disabilities into the labor market, and promoting social responsibility. Attendees learned from international and regional experiences and heard inspiring success stories from Iraqi youth with disabilities.

This event has set the stage for ongoing efforts to empower individuals with disabilities, ensuring their full participation in Iraq's economy and society. UNDP, the Ministry of Labour and Social Affairs, and USAID remain dedicated to turning challenges into opportunities and building a more inclusive Iraq.

(Source: UNDP)

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (trading week ending: 11th July 2024).

Please click here to view a table of listed companies and their associated ticker codes.

*Selling price of the dollar from banks and non-bank financial institutions to the final beneficiary

**Selling price of the dollar by the CBI to the banks

Iraq Stock Exchange

• In a significant move to bolster Iraq's entrepreneurial sector, the U.S. International Development Finance Corporation (DFC) and the US Agency for International Development (USAID) have announced a $50 mn loan to the National Bank of Iraq (BNOI). This historic agreement, DFC's first loan to an Iraqi commercial bank, aims to expand financing opportunities for Iraqi entrepreneurs nationwide. (Bas News)
• Al-Mansour Bank (BMNS) invited its shareholders to subscribe to 15.0 bn shares starting Jul. 9 from the capital increase to IQD351.0 bn through a 5.0% rights and %12.0 bonus issue. The subscription period is no less than 30 days and no more than 60 days.
• Credit Bank of Iraq (BROI) invited its shareholders to subscribe to 57.0 bn shares starting Jul. 14 from the capital increase to IQD325.0 bn through a 22.8% rights issue and 7.2% bonus issue. The subscription period is no less than 30 days and no more than 60 days.
• ISX requested International Development Bank (BIDB), AHliya For Insurance (NAHF), and Ibdaa Al-Sharq Al-Awsat General Contract (SIBD) to provide their AGM minutes for the purpose of returning the companies to trading.

Stocks that resumed / will resume trading:

• Tourist Village of Mosul Dam (HTVM) resumed trading on Jul. 8 after holding its AGM on Jun. 28 in which they discussed and approved 2023 annual financial statements.
• Region Trade Bank (BRTB) resumed trading on Jul. 9 after holding its AGM on Jul. 4 in which they discussed and approved electing seven original and seven alternative board members.
• Gulf Insurance and Reinsurance (NGIR) resumed trading on Jul. 9 after holding its AGM on Jun. 30 in which they discussed and approved electing five original and five alternative board members.
• AL- Kindi of Veterinary Vaccines Drugs (IKLV) resumed trading on Jul. 11 after holding its AGM on Jul. 3 in which they discussed and approved electing five original and five alternative board members, and postponed the selling of the company's headquarters land and purchasing an alternative site.
• Original shares of AHliya For Insurance (NAHF) will resume trading on Jul. 14 after holding its AGM on Jul. 2 in which they discussed and approved 2022 annual financial statements, increasing the paid-in capital from IQD7.0 bn to IQD15.0 bn through 114.3% rights issue, and electing five original and five alternative board members. The opening price will be IQD0.680 per share with a +/-50% price change limit.

Stocks that were suspended / will be suspended from trading:

• ISX suspended trading of Iraqi for Tufted Carpets (IITC) starting Jul. 9 due to the AGM that will be held on Jul. 14 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of Al-Hamraa for Insurance (NHAM) starting Jul. 21 due to the AGM that will be held on Jul. 24 to discuss and approve 2022 annual financial statements and electing five original and five alternative board members.
• ISX will suspend trading of Trans Iraq Bank (BTRI) starting Jul. 24 due to the AGM that will be held on Jul. 29 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX will suspend trading of AHliya For Insurance (NAHF) starting Aug. 26 due to the AGM that will be held on Aug. 29 to discuss and approve 2023 annual financial statements and dividend distribution.
• ISX suspended trading of the following companies in accordance with an ISC decision due to not disclosing their 3M24 financial statements: NGIR, AMAP, ABAP, BZII, and BAME. ISX sent a "warning" for the following companies to submit their 3M24 financial statements and state their position within a period of (5 working days): HISH, IMCM, ITLI, SILT, SBAG, SIGT, BNOR, VKHF, and VBAT.

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From the United Nations Development Programme (UNDP). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

The Kurdistan Regional Government's (KRG) Ministry of Agriculture and Water Resources, in collaboration with the United Nations Development Programme (UNDP) in Iraq and the United States Agency for International Development (USAID), proudly announces the graduation of 200 women from a training program for doing business in the agriculture food industry.

H.E. Mr. Qubad Talabani, Deputy Prime Minister, KRG, said:

"The agriculture food industry holds immense potential for economic growth and sustainable development in the Kurdistan Region ... Through our partnership with UNDP and USAID, we have taken a significant step towards harnessing these women's potential by equipping them with the necessary skills to thrive in this sector."

Participants across 9 locations in IKR, including Erbil, Sulaymaniyah, Dohuk, Halabja, Garmian, Soran, Rapareen, Zakho, and Akre, were trained on cultivating various agricultural products, marketing strategies, and entrepreneurship skills tailored to the specific needs of each location.

Mr. Auke Lootsma, Resident Representative of UNDP Iraq, said:

"This collaboration exemplifies our commitment to supporting inclusive and sustainable development in Iraq. By investing in the capacity and untapped potential of Iraqi women, we are not only fostering equitable economic empowerment, but also contributing to the overall advancement of the agriculture sector in Iraq's Kurdistan Region. This wouldn't have been possible without the generous contribution of our steadfast partner, USAID."

Ms. Elise Jensen, USAID/Iraq's Mission Director, said:

"The successful completion of this training underscores the importance of partnerships in driving positive change. By working together, we can create opportunities for every Iraqi to play a transformative role in the agriculture food industry, ultimately contributing to food security and economic prosperity in Iraq."

The program's emphasis on producing diverse food products, tailored to local market demands, reflects a holistic approach to strengthening the agriculture food industry. Participants were trained in various skills, including pickling olives and vegetables, making jams and sauces, preparing natural sweets, producing vinegar and juices, creating tomato paste, drying fruits and vegetables, and handling frozen products.

Through this training, the KRG, UNDP, and USAID aim to enable today's graduates to not only enter the agriculture food industry, but to establish their own businesses, thereby fostering sustainable livelihoods and contributing to Iraq's economic growth.

(Source: UNDP)

By John Lee.

USAID has issued a Complex Emergency Fact Sheet, as at 3rd June 2024.

Situation at a Glance

2.5 MILLION People in Need of Humanitarian Assistance (WFP - March 2024)

140,184 Number of IDPs in Central and Southern Iraq Due to ClimateRelated Factors Since 2019 (IOM - May 2024)

1.1 MILLION Estimated Number of IDPs in Iraq (IOM - April 2024)

157,000 Number of IDPs Sheltering in Camps (UNHCR - April 2024)

280,000 Number of Syrian Refugees in Iraq (UNHCR - April 2024)

• The Government of Iraq's resolution directing the closure of Iraq's remaining 22 IDP camps, all in the Iraqi Kurdistan Region, by July 30 risks exacerbating humanitarian needs among the more than 150,000 individuals currently sheltering in the camps.
• IDPs returning to their areas of origin continue to experience a lack of livelihood opportunities, protection risks, and poor WASH infrastructure, likely exacerbating humanitarian needs, as of May.
• MHPSS needs remain high among IDPs and returnees in Ninewa Governorate, according to an IOM survey.

Click here to download the full report.

(Sources: USAID, ReliefWeb)

By John Lee.

A mobile app supported by the United States Agency for International Development (USAID) has been introduced to wheat and corn farmers in Nineveh.

The app monitors farms using satellite technology, aiming to enhance productivity and increase revenue.

It sends alerts about agricultural diseases to subscribers and provides treatment tips and weather information.

A forum is also available for farmers to share experiences and best practices, reducing the time and effort needed to monitor crop growth.

Additionally, the app can lower production costs by up to 20 percent.

(Source: USAID)

By John Lee.

A delegation from Iraq, led by Deputy Prime Minister and Minister of Planning Mohammed Tameem, met with a delegation from the United States government, headed by Secretary of State Antony J. Blinken, in the High-Level Coordination Committee (HCC) meeting yesterday, April 15th.

The meeting was held in accordance with the 2008 Strategic Framework Agreement (SFA) between Iraq and the United States.

According to a statement issued after the meeting, the U.S. International Development Finance Corporation (DFC), in conjunction with the United States Agency for International Development (USAID), will provide a $50 million loan to the National Bank of Iraq in support of private sector development in Iraq.

This loan, facilitated by USAID, aims to extend credit to small and medium-sized enterprises (SMEs), with a focus on businesses without previous banking relationships and those led by women.

[CORRECTION: A previous version of this article stated that agreement was with the International Finance Corporation (IFC). Iraq Business News understands that this should have stated "U.S. International Development Finance Corporation (DFC)". The article has been amended accordingly.]

(Source: PMO)

From the United Nations Development Programme (UNDP):

UNDP Iraq and USAID Seek to Revitalize Tourism in the Kurdistan Region

In a milestone event aimed at reviving tourism in the Kurdistan Region of Iraq (KRI), the United Nations Development Programme (UNDP) in Iraq and the United States Agency for International Development (USAID) partnered with the Kurdistan Regional Government's Ministry of Tourism to unveil the "Reform Roadmap", a groundbreaking plan to revitalize tourism in the region.

"The path to economic resilience lies in diversification, and boosting tourism support to the most frequented region in Iraq is a great opportunity for the whole country to do just that." Says Auke Lootsma, UNDP Iraq's Resident Representative.

Economic resilience through diversification

KRI is the most popular travel destination within Iraq, as it is nestled in a part of the country that features lush greenery and picturesque mountains. In this area of the country, the tourism and hospitality sectors have emerged as one of the key drivers of economic growth and job creation in the region.

"The Kurdistan region with its rich cultural heritage and stunning backdrops is the perfect place for diversification to unfold. UNDP, along with our partners, USAID and the KRI government, will continue to encourage and support this important initiative that will lead to sustainable tourism, economic growth and job creation," said Auke Lootsma, UNDP Iraq Resident Representative.
The Reform Roadmap, developed with financial support from USAID, solidifies the two agencies' unwavering commitment to improve tourism in the KRI, an area with immense untapped potential for tourism-led economic growth.

"Tourism has a special place in any society. It simultaneously helps communities preserve their cultural heritage and share this wealth and beauty with the outside world. The Iraqi Kurdistan Region receives millions of tourists every year. Through this USAID-funded roadmap, the U.S. government is supporting the Kurdistan Regional Government in its efforts to take a serious step toward developing this vital sector," said Elise Jensen, USAID Mission Director in Iraq. "With the launch of this comprehensive roadmap for tourism sector development, the path laid that celebrates the region's heritage and embraces sustainable practices. We are proud of our partnership with the UNDP and the Ministry of Tourism on this important initiative."

A roadmap to success

The "Reform Roadmap" identifies areas that are most important for a sustainable and successful tourism development in KRI. It focuses on recommendations with the biggest impact on the tourism industry, including tourism legislation, laws, and regulations; marketing; and developing tourism sites and products.

The Roadmap provides guidance on how to stimulate private sector investment through different financing modalities such as public-private partnerships for the development of tourism sites and products. It underscores the necessity of tourism law, regulations, institutional structure and tourism business quality assessment criteria for the Kurdistan Region, taking into account the local legal context and authorities.

The Roadmap also includes a comparative study of the tourism sector legal framework to examine the institutional structure and quality assessment criteria from countries with well-established tourism industries, in this region and the European region, taking these best practices and applying it to this context.

"The Kurdistan Region enjoys a rich culture, heritage and beautiful nature, and has the potential to become a prime tourist destination in the Middle east. A vibrant tourism economy generates livelihood opportunities, particularly for the youth and women in the region. This Roadmap plays a vital role in that." said Ms. Amal Jalal - Head of KRG Board of Tourism.

The launch of this pivotal roadmap marks a significant stride towards a more sustainable, professionalized, and profitable tourism industry in the Kurdistan Region and for the country as a whole.

The full report (60MB) can be downloaded here.

(Source: UNDP)

From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

KRG, UNDP, USAID discuss reforming Kurdistan Region tourism

The Kurdistan Region Government (KRG) is discussing a reform program for the tourism sector along with a United Nations development agency and a United States aid organization.

Click here to read the full article.

Water complex rehabilitated by UNDP and USAID provides safe drinking water for over 30,000 people in Basra

The United Nations Development Programme (UNDP), U.S. Agency for International Development (USAID), and the Government of Iraq have inaugurated the Al-Hussein water complex, bringing clean, potable water to more than 30,000 people in Hay Al-Hussein subdistrict and helping to ease the water crisis in Basra Governorate.

Built in 1977, the Al-Hussein water complex provided untreated water from the R-Zero station to homes, nearby industries, and military bases for over 40 years. Despite increasing water demand, the Al-Hussein water complex stopped operating three years ago because of the facility's outdated and damaged equipment. Its closure severely affected the water supply in the sub-district and surrounding areas, leading to health concerns for residents as well as negative impacts for local businesses and agricultural production.

Rehabilitated by UNDP's Iraq Crisis Response and Resilience Programme (ICRRP) funded by USAID, the Al-Hussein water complex is now fully operational with upgraded water pumps and treatment equipment to ensure the water that goes to homes, schools, and other establishments is safe for human consumption. Moreover, at least 45 people have resumed work upon the water treatment plant's reopening.

"Access to clean water is one of the most pressing challenges Iraq faces. The scarcity of water and outdated infrastructure affects the health and well-being of millions of Iraqis and hampers the country's development. The reopening of the Al-Hussein water complex is a step forward to build capacity and promote the importance of safe water and sanitation for people's health," says UNDP Resident Representative in Iraq Auke Lootsma, speaking at the inauguration ceremony.

"UNDP remains committed to working with our steadfast partner, USAID, to support Iraq and help ensure that its people have access to critical services and opportunities that enable them to lead healthy, productive, and fulfilling lives," he adds.

"Improving Iraq's water infrastructure and management of this precious resource directly contributes to the country's stability and prosperity," United States Ambassador to Iraq, Her Excellency Alina L. Romanowski said. "The United States, through USAID, is proud to be working with UNDP to rehabilitate the Al-Hussein water complex, which is helping improve the lives of thousands of local residents."

Since 2019, UNDP's Iraq Crisis Response and Resilience Programme, with support from USAID, has been rehabilitating critical water treatment plants in Basra. So far, nine water treatment plants in Shatt al-Arab, Al-Qurna and Abi al-Khaseeb districts have been completed, serving 149,000 people.

(Source: UN)

Background

Ranked the fifth most vulnerable country to climate change, Iraq's environmental and energy challenges directly affect its overall stability and prosperity.

Working with the Government of Iraq, the private sector and affected communities, USAID is mitigating the impact of climate change by strengthening water management and governance systems, promoting renewable energy solutions, improving management of strategic resources, and supporting businesses developing climate-smart innovations.

Over the past two decades, a steady decrease in Iraq's precipitation, combined with higher temperatures, is creating some of the worst drought conditions in its recorded history, resulting in reduced yields of important crops, such as wheat and barley.

Despite being one of the world's leading oil producers, Iraq relies on Iranian oil and gas imports, as well as diesel generators, to meet growing energy needs. Iraq also flares approximately $3.8 billion worth of gas annually, which is economically and environmentally unsustainable. Iraq's climate risks impact the country's overall stability and prosperity: ongoing water shortages and rising temperatures are placing growing pressure on basic resources and reducing opportunities for livelihoods in once-prosperous sectors, such as agriculture.

Goals

USAID supports the Government of Iraq (GOI) to meet its commitments under the Paris Agreement, improve management and governance of energy resources, implement renewable energy projects, and restore agricultural lands. USAID also leverages the private sector to address climate change issues by facilitating access to financing and investment opportunities for firms developing innovative solutions to conserve water and energy.

Since 2015, USAID has invested over $150 million to improve Iraq's water availability and management, increasing access to potable water for over 12 million Iraqis. Through the Water and Development Alliance (WADA), in partnership with Coca-Cola, USAID piloted a successful water-loss reduction program in the city of Soran in Iraqi Kurdistan, one of Iraq's fastest growing districts. This initiative introduced new management practices and upgraded the water network, saving over 1.1 billion liters of water annually.

Through the Water and Energy for Food (WE4F) Grand Challenge, USAID supports Iraqi small-and medium-sized enterprises working in agriculture, energy, and water to develop projects that sustainably increase food production. Entrepreneurs have received about $500,000 in climate-friendly innovative investments in the agriculture sector. The innovative projects have saved over 700 Mwh of electricity, over 4 million liters of water, and over 9,000 tons of CO2 emissions.

USAID's Iraq Governance and Performance Accountability project supported the Iraqi Ministry of Environment to promote good climate governance and implement climate-friendly service delivery models in the areas of solid waste management, water, and electricity. This includes business process re-engineering for efficiency, cost recovery, improved GOI procurement processes, and capacity development/training on water treatment, such as managing salinity and bacterial contamination. This activity also provided information technology solutions to manage water resources and trained staff on detecting leaks and illegal connections, reducing water wastage by 30 percent in five provinces.

USAID's Durable Communities and Economic Opportunities project partners with the private sector to support young entrepreneurs' climate-smart business ventures and the transition to a more sustainable energy industry. The project mobilizes private finance and encourages corporate decisions that support the transition to more sustainable, resilient, and climate-adaptive power sources. Additionally, the project provides technical assistance and seed funding to youth entrepreneurs' climate-smart businesses that promote innovative agricultural techniques and present renewable energy solutions.

In response to the Basrah water crisis, USAID's Funding Facility for Stabilization program supported the upgrade and rehabilitation of seven water treatment infrastructure projects, which ensured more reliable and clean water to over 80,000 residents. USAID also helped establish the Basrah Water Crisis Committee, which provides a roadmap to mitigate future water crises.

USAID also supports over 140 water infrastructure projects in Anbar, Ninewa, and Salah al-Din provinces, helping to reduce water wastage and provide clean water to residents. In Anbar alone, USAID has helped ensure access to safe water to over 1.3 million residents.

The USAID-sponsored Funding Facility for Economic Reform supports the GOI to meet Iraq's 2030 vision for enhancing climate resilience targets, increasing renewable energy use, and reducing greenhouse gas emissions. USAID also supports the Ministry of Environment to develop a five-year climate strategy and produce its National Appropriate Mitigation Action Plan, a contingency plan for mitigating environmental hazards.

Key Results

• Provided around $1.7 million to SMEs working in green energy/climate-related sectors.
• Trained over 145 water directorate staff in strategic planning and water system management.
• Improved water access for over 12 million Iraqis.

(Source: USAID)