Tag Archives | World Bank

8.8% Growth Expected in Iraq this year

By John Lee. GDP growth is forecast to hit 8.8 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a small reduction on the previous forecast of 8.9 percent, issued in April. Growth projections for the following two years remain unchanged, at 4.5 percent in 2023 and 3.0 percent in 2024. […]

Preparations made for Iraqi e-Government Project

By John Lee. A meeting has been held in Baghdad to prepare for the World Bank-funded project to modernize Iraq's public financial management systems. The meeting was attended by the Director General of the Administrative and Financial Department, Mr. Hassan Al-Magouter, and a team from Irish-based consultancy AARC, which signed a contract in December to […]

$10m to Enhance Teaching in Lagging Iraqi Governorates

Iraq: US$10 million to Enhance Teaching Practices and Improve Learning for the Most Vulnerable Primary Students in Lagging Governorates The World Bank has approved a new US$10 million project to support Innovations towards Learning in three lagging Iraqi Governorates. The project aims to enhance teaching practices of Arabic and Mathematics teachers, and improve literacy and […]

I3RF Fund Annual Progress Report

Iraq Reform, Recovery and Reconstruction Fund (I3RF): Trust Fund Annual Progress Report to Development Partners 2021 Since its inception in November 2018, the Iraq Reform, Recovery and Reconstruction Fund (I3RF) has worked closely with the Government of Iraq to support its recovery and reconstruction plans as well as inform its reform agenda adopted in October […]

World Bank to fund Iraq Education Initiatives

By John Lee. The Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. Following discussions, the Cabinet authorised the Ministry of Finance to sign two grant agreements with the World Bank: the first, to support higher education in Iraq in the amount of 5 million dollars aimed at improving […]

Iraq's Economic Update -- April 2022

Iraq's economy is gradually recovering from the twin shocks of the pandemic and collapse in oil prices in 2020. Both oil and non-oil growth are on track to reach their pre-pandemic levels as oil production increases and the easing of COVID-19 restrictions restores domestic economic activity. Fiscal and external deficits are back to surpluses as […]

Lebanese Firm takes Arbitration Case against Iraq

By John Lee. Lebanese company Primesouth International Offshore has commenced arbitration proceedings against Iraq at the International Centre for Settlement of Investment Disputes (ICSID). Details of the dispute have not been released, but in 2020 the company was reported to have signed a two-year contract, along with China CAMC Engineering Co (CAMCE), to install 640 […]

Irish Company to Advise Iraq on Financial Info Management System

By John Lee. Iraq's Ministry of Finance has signed a contract with the Irish-based consultancy AARC Ltd to provide "advisory services regarding the preparation of functional and technical requirements and IFMIS [integrated financial management information systems] bid documents." According to a statement from the Ministry, the project has an implementation period of 17 months, and […]

Iraq's Economic Outlook has Improved, but Risks Abound

From the World Bank: Iraq: Rising Fiscal Risks, Water Scarcity, and Climate Change Threaten Gradual Recovery from Pandemic Iraq's economic outlook has improved on the back of the recovery of global oil markets, with its GDP projected to grow from 2.6% in 2021 to over 6% in 2022-23. Nevertheless, without accelerated economic reform, unforeseen domestic […]

Iraq's Economic Update -- October 2021

From the World Bank: Economic growth is gradually recovering following last year's pandemic-related contraction, partly due to higher non-oil activity. Improved global oil market conditions are expected to reinforce growth in the medium term and turn the fiscal and external balances to surpluses from 2021, and to reverse the recent surge in debt. Latest Developments: […]

Success Stories from Iraqi Civil Society Organizations

Iraq has experienced complex challenges to stabilization and peacebuilding since 2003, most recently associated with the Islamic State of Iraq and the Levant (ISIL), which captured large swathes of territory in 2014 and caused vast destruction and displacement across Iraq. Civil society has played a vital role in post-conflict stabilization since 2003. Civil society actors, […]