Government welcomes the agreement between the European Union and the World Bank with Iraq

Economy News Baghdad

On Sunday, government agencies welcomed the EU-World Bank agreement with Iraq aimed at strengthening oversight institutions and increasing public resource management activities in Iraq.

"Despite the existence of long-standing institutions in Iraq that are concerned with the subject (supervision and management of public resources) and the sound law of financial management, we feel that, There is a real need to build the capacity of workers in the fields of supervision and financial performance. "

He added that the signed agreement includes "building national capacities, which represents an important step in the promotion of the spirit of transparency and away from corruption.

For its part, the World Bank stressed that the objective of all the agreements signed with Iraq, to ​​improve the process of government financial spending and management of financial resources in a proper and thoughtful and coordinated.

World Bank representative in Iraq Yara Salem said that the agreement signed today aims to "modernize financial information systems and manage resources in Iraq and enhance government accountability and transparency by working with institutions of governance and accountability and strengthening their capabilities."

"We will be signing 14.5 million euros, equivalent to 18 million dollars, to complement the 41.5 million euros public financial management systems modernization program launched by the World Bank in 2017," she said.

The European Union Ambassador in Iraq, Ramon Belkwa, said that "this program comes to address the problems of accounting accountability in the public finance system, and will solve many problems and the most important problem of corruption," adding that "it will address corruption by focusing on points Weakness in the system ".

"What we want to achieve in this project is to achieve integration with the new Iraqi government in order to treat some systems and tackle corruption," he said. .

The Undersecretary of the Ministry of Finance and Planning, d. Maher Johan, believes that the agreement reflects "one of the axes of economic reform as we are working on the subject of automating systems and strengthening control of the movement of funds and finding mechanisms for the most efficient use of this money at the investment or operational level," stressing that "we need to go quickly to resolve Problems of financial management in Iraq ".

The head of the National Investment Authority, Sami Araji, the agreement is "very important," revealing at the same time the latter twinning between fiscal and monetary policy in Iraq, as he put it.

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