G7, WB, and EU select UK a co-chair of an international assembly to support Iraq

Shafaq News/ The United Kingdom on Monday became a co-chair, alongside Japan, of the Iraq Economic Contact Group (IECG), a body aimed at supporting the Iraqi government in enacting reforms.

The announcement was made in a statement posted by the UK embassy to Iraq earlier today. 

The statement said that the G7 countries, the World Bank (WB), and the European Union (EU) had met on Saturday to launch the UK and Japan's joint chairship of the IECG. 

The IECG was launched by the G7, EU, and the World Bank in 2020 to support the government implement much-needed economic reforms. 

The statement called on the Iraqi government to integrate climate change considerations into its reforms and deploy the revenues of oil exports in "reviving its economic reform agenda." 

"Reforms should focus on improving competitiveness, both domestically and internationally and improving transparency and tackling corruption," it read.