Iraq calls on World Bank to support it in facing the budget deficit and the reconstruction of liberated areas
markets, as well as reconstruction in the liberated areas from the control of ISIS terrorist organization.
A statement issued by the ministry said that al- Jumaili discussed with World Bank Vice President for Middle East and African Affairs , Hafez Ghanem and the possibility of the World Bank to support Iraq financially to cope with the budget deficit and the reconstruction of the liberated areas and help the displaced people.
The statement quoted Minister of Planning as saying that Iraq is not a poor country but it is a country with good economic potential qualify to fulfill its financial obligations, explaining that the exceptional circumstances faced by the country during the last period marked by fierce terrorist attack on the security side resulting in waves of displacement affected negatively on the development plans accompanied by a drop in oil prices that has brought a sudden case of the lack of liquidity to address the situation.
Jumaili called on the World Bank to provide support for Iraq by contributing to finance the reconstruction of the liberated areas so that this fund would be able to perform its duties in those areas that have been exposed to a lot of destruction on its infrastructure , the houses of citizens and various services.
He added that the other problem facing Iraq today is the existence of a large number of ongoing projects that has been almost completed but because of the lack of liquidity , they are no longer able to finance its continuation to be completed by the time timings.
The minister pointed out that the World Bank can work to finance investment projects that will provide more job opportunities to attract young people in addition to the agricultural sector, which is largely to be a key contributor in the formation of gross domestic product projects.
For his part, World Bank Vice President Hafez Ghanem, expressed the bank's readiness to provide all kinds of possible support for Iraq in the area of the budget deficit or financing the stopped projects.
Ghanem announced that a high-level technical delegation from the World Bank visited Iraq on the eighth of May to identify priorities and projects that the bank can contribute to its financing through what it will provide of loans in this area.
Ghanem said that Iraq is keen to help the bank to enable it to cope with the economic crisis, which is going through a difficult and complex crisis, referring to easy loans granted by the Bank of Iraq with low interest compared with those loans granted by international organizations or banks.
