Baghdad (IraqiNews.com) – Iraqi Finance Minister Faleh Sari and World Bank Group Vice President for the Middle East and North Africa Ousmane Dione discussed on Thursday financing strategic projects and support for economic reforms in Iraq.
The meeting took place on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, held in Bangkok, Thailand, according to a statement released by the Finance Ministry.
Sari stressed the World Bank’s role in Iraq’s economic and financial transformation. He outlined the country’s desire to use the World Bank’s expertise and financial contributions to carry out significant projects in the energy, education, transportation, and digital transformation sectors.
The step aims to promote sustainable development and improve the efficiency of public services in Iraq, according to Sari.
Dione praised the collaboration with the Iraqi Finance Ministry, indicating that it has efficiently arranged its operational and communication mechanisms with the World Bank.
The World Bank official highlighted that the efforts of the Iraqi government pave the way for additional initiatives to support the country’s economic and financial goals in the upcoming period.
Sari reaffirmed last week Iraq’s commitment to continuing economic and financial reforms, diversifying revenue sources, and strengthening the role of the private sector.
According to Sari, these measures aim to bolster economic stability and enhance the country’s capacity to deal with regional challenges.
Sari noted that the government is addressing the economic consequences of the crisis in the Strait of Hormuz by reprioritizing expenditures, increasing non-oil revenues, and maintaining the state’s essential obligations while pursuing structural reforms.
“Iraq Vision 2050” represents a strategic plan for reducing dependency on oil, broadening production, empowering the private sector, and achieving inclusive and sustainable economic growth, according to Sari.
The minister noted that the reform package includes enhancing public financial management, automating customs and tax operations, boosting the business and investment climate, upgrading the banking sector, and increasing electronic payment systems.
According to Sari, the partnership with the IMF and the World Bank Group supports the economic and financial reform program.
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