ERBIL, Kurdistan Region—The United Nations Development Programme (UNDP) signed an agreement with the Kurdish government to provide international expertise to support the region’s economic reform plan.
The UNDP signed an agreement with the Ministry of Planning of the Kurdistan Regional Government (KRG) on Wednesday, establishing the Funding Facility for Economic Reform (FFER).
The FFER will support the three-year reform plan of the KRG’s ministry of planning announced in partnership with the World Bank in May, called KRG Vision 2020, to reboot the economy and overcome a severe financial crisis that has gripped the region for more than two years.
Ali Sindi, minister of planning, believes that bringing international expertise is key to making the reform plan successful.
“We are determined to pursue the newly adopted reform agenda; efficient and effective high-level international expertise is one of the important preconditions for the overall success. We appreciate this timely initiative by UNDP and look forward to working together,” Sindi said, according to a UNDP press release.
The UNDP said it launched this initiative to help the Kurdistan Region recover from the financial crisis and return to its economic boom.
“The Kurdistan Region of Iraq has been hard-hit by the economic crisis. The KRG’s new reform plan seeks to reverse this. We are very pleased to launch the FFER as a way of helping the Region economically recover and return to a path of growth,” said Mounir Tabet, UNDP country director for Iraq.
The UNDP also will be working with the World Bank and the initiative will be implemented under the KRG’s authority.
“FFER will mobilize expertise for initiatives aimed at transforming and diversifying the Kurdistan Region’s economy. FFER will work closely with a wide range of national and international partners, including the World Bank,” reads the UNDP release.
The KRG recently approved a strategic framework to strengthen the Region’s social protection programs, and last week the Ministry of Planning, with the World Bank, hosted a conference titled “The Social Protection Strategic Framework.”
“The new Framework strengthens and aligns KRG’s social protection system with the KRG Vision 2020 by promoting more effective strategies for the labor market, for social insurance and for social safety nets, to protect the poor and vulnerable population and provide opportunities for our youth. This comes within KRG’s Economic Reform Plan that was launched in June 2016,” said Sindi last week at the launch of the Social Protection Strategic Framework.
“We are pleased to support reforms in social protection in KRG, as part of KRG’s overall economic reform plans,” said Robert Bou Jaoude, World Bank country manager for Iraq.
According to the Ministry of Planning, the KRG Social Protection Strategic Framework is designed to improve service delivery and benefits for the most vulnerable, while ensuring long term fiscal sustainability.
European Union foreign ministers in Brussels and G7 leaders in Japan in May pledged $3.6 billion in loans to Iraq, stating that the Kurdistan Region must also benefit from these loans.
The UNDP signed an agreement with the Ministry of Planning of the Kurdistan Regional Government (KRG) on Wednesday, establishing the Funding Facility for Economic Reform (FFER).
The FFER will support the three-year reform plan of the KRG’s ministry of planning announced in partnership with the World Bank in May, called KRG Vision 2020, to reboot the economy and overcome a severe financial crisis that has gripped the region for more than two years.
Ali Sindi, minister of planning, believes that bringing international expertise is key to making the reform plan successful.
“We are determined to pursue the newly adopted reform agenda; efficient and effective high-level international expertise is one of the important preconditions for the overall success. We appreciate this timely initiative by UNDP and look forward to working together,” Sindi said, according to a UNDP press release.
The UNDP said it launched this initiative to help the Kurdistan Region recover from the financial crisis and return to its economic boom.
“The Kurdistan Region of Iraq has been hard-hit by the economic crisis. The KRG’s new reform plan seeks to reverse this. We are very pleased to launch the FFER as a way of helping the Region economically recover and return to a path of growth,” said Mounir Tabet, UNDP country director for Iraq.
The UNDP also will be working with the World Bank and the initiative will be implemented under the KRG’s authority.
“FFER will mobilize expertise for initiatives aimed at transforming and diversifying the Kurdistan Region’s economy. FFER will work closely with a wide range of national and international partners, including the World Bank,” reads the UNDP release.
The KRG recently approved a strategic framework to strengthen the Region’s social protection programs, and last week the Ministry of Planning, with the World Bank, hosted a conference titled “The Social Protection Strategic Framework.”
“The new Framework strengthens and aligns KRG’s social protection system with the KRG Vision 2020 by promoting more effective strategies for the labor market, for social insurance and for social safety nets, to protect the poor and vulnerable population and provide opportunities for our youth. This comes within KRG’s Economic Reform Plan that was launched in June 2016,” said Sindi last week at the launch of the Social Protection Strategic Framework.
“We are pleased to support reforms in social protection in KRG, as part of KRG’s overall economic reform plans,” said Robert Bou Jaoude, World Bank country manager for Iraq.
According to the Ministry of Planning, the KRG Social Protection Strategic Framework is designed to improve service delivery and benefits for the most vulnerable, while ensuring long term fiscal sustainability.
European Union foreign ministers in Brussels and G7 leaders in Japan in May pledged $3.6 billion in loans to Iraq, stating that the Kurdistan Region must also benefit from these loans.
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