By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has reportedly dismissed a German investor's claim arising out of the Iraqi Government's alleged takeover of a cement factory in Kirkuk. In the case (ICSID Case No. ARB/20/21), AHG Industry GmbH & Co. KG was said to be claiming $878 million […]
By John Lee. Iraq's Minister of Planning, Dr. Khaled Battal Al-Najm, received the new Special Representative of the World Bank in Iraq, Mr. Richard Abdelnour and his accompanying delegation, on Sunday. During the meeting, they discussed aspects of joint cooperation between the two sides in various economic and development issues, especially with regard to the […]
The World Bank's Enterprise Analysis Unit, in collaboration with colleagues from the Social Protection and Jobs team in the Middle East and North Africa (MENA) region, recently published the data from an Informal Sector Enterprise Survey conducted in Iraq, covering four major cities in the country: Baghdad, Basrah, Sulaymaniyah, and Najaf. These surveys are designed […]
Ministry of Health and UNDP partner to address medical waste management challenges under $25m agreement The United Nations Development Programme (UNDP) in Iraq has signed a US$25 million agreement with Iraq's Ministry of Health (MoH) to strengthen medical waste management in the country. The agreement is part of the $100 million Iraq Covid-19 Vaccination Project […]
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. […]
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 […]
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 […]
By John Lee. The National Data Center, in coordination with experts from the United Kingdom and the World Bank, has held an meeting to develop the final draft of an action plan and roadmap for Iraq's digital transformation project. Director, Dr. Ammar Mazhar Al-Tamimi, said the meeting followed an extensive phase of data collection and […]
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 […]
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 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 […]
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 […]
