Prime Minister, Mohammed Shia Al-Sudani chaired the regular meeting of the Board of Directors of the Iraq Development Fund today, Monday.
During the meeting, the Prime Minister pointed out the importance of continuing the fund’s work according to the planned vision, and in line with the expectations of international financial institutions, in order to attract investors from inside and outside Iraq. He also referred to the housing and school construction projects that are on their way to implementation, stressing the need to work according to the new approach that the government seeks to implement, which is to purchase services from investors instead of the state taking over the implementation.
During the meeting, the governance guide for the Iraq Development Fund was approved, after making amendments to it and discussing the mechanisms and policies of the future work of the fund, based on this guide, which constitutes a comprehensive framework for good governance, and aims to ensure effective and sustainabl
e management of the fund’s assets, in line with the national objectives of its establishment and a working method that is in line with the best international practices in the field of sovereign and development funds to ensure achieving the highest levels of integrity, transparency and efficiency in all its investments.
The meeting discussed the mechanisms for transferring ownership of schools from the Fund to the Ministry of Education and the accounting treatment for it, as well as the Ministry of Finance handling the guarantee of purchasing services from investors.
Source: National Iraqi News Agency
