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  1. #1
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    Post Al-Abadi Receives World Bank Director

    By John Lee.
    Prime Minister Dr. Haider Al-Abadi recently received in his office the director of the World Bank in the Middle East and North Africa, Mr. Farid Belhaj, and the Special Representative of the World Bank Mission in Iraq, Mr. Robert Bu Jodah.
    The meeting discussed the challenges of Iraq’s economy caused by the global drop of oil prices in addition to reorganizing the economy in Iraq, the government support to private sector, and turning the challenges of Iraq into opportunities for real reforms besides following up the results of the meeting between PM Dr. Al-Abadi and Director of the World Bank on the margin of Davos Forum last month.
    Dr. Al-Abadi mentioned that the government is continuing in implementing its economic reforms and supporting private sector; “this is what we started to seek for through ratifying the budget of this year which adopted abstinence” and “the government started in this project and it has plans in this field but it needs the help and experience of the World Bank”.
    H.E. emphasized the determination of the government to activate a retirement system which guarantees the rights of all Iraqis including those who work in the private sector.
    On its part the delegation of the world bank expressed its intention to provide all kinds of support to Iraq and its readiness to establish programs and projects to activate public Banks, cooperate with the Iraqi Central Bank, rehabilitate the state owned companies in addition to supporting infrastructure projects like electricity and water.
    (Source: Office of the Prime Minister)


    Source: Iraq-BusinessNews.com.

    Post your commentary below.

  2. #2
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    interesting that this visit coincides with the news out of Iraq this weekend
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  3. #3
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    Yes... this stood out as well:

    "in addition to reorganizing the economy in Iraq"

  4. #4
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    I think we're on the verge of big things unfolding, but it'll be approached very cautiously and carefully by both the Iraqis and international financial community.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  5. #5
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    "On its part the delegation of the world bank expressed its intention to provide all kinds of support to Iraq and its readiness to establish programs and projects to activate public Banks, cooperate with the Iraqi Central Bank,"

    Also wonder if this suggests the World Bank may decide to loan/ inject cash into the struggling banking system..
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

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