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Prime Minister Al-Sudani Highlights World Bank Partnership in Driving Economic Reforms in Iraq

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Government-World Bank Collaboration on Economic Reforms

Prime Minister Muhammad Shi’a Al-Sudani has reaffirmed the Iraqi government’s commitment to working closely with the World Bank, which he identifies as a key partner in the nation’s reform efforts. In a meeting on Tuesday with Othman Dayyoun, the World Bank’s Vice President for the Middle East and North Africa, Al-Sudani discussed the potential for enhanced cooperation and the advancement of developmental projects within Iraq.

The focal point of these projects is to strengthen the non-oil sector of the economy and facilitate job creation, underscoring the government’s dedication to implementing economic reforms that bolster the private sector. Al-Sudani emphasized that the World Bank’s involvement is crucial in fostering these changes.

According to the Prime Minister, the Ministerial Council for Economy has ratified the program established by the Ministry of Planning in collaboration with the World Bank. He noted that the impacts of newly adopted reforms in customs and civil administration have started to yield noticeable positive outcomes.

The discussions also covered critical financing opportunities for the rehabilitation of Iraq’s antiquated railway system, along with several other developmental initiatives. During the meeting, Dayyoun expressed the World Bank’s commitment to funding various projects in oil, energy, and infrastructure sectors. Additionally, the International Finance Corporation (IFC) was mentioned as a potential partner in financing several initiatives aimed at nurturing private sector development.

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