The United Nations Development Programme (UNDP) signed an agreement this week in Baghdad, with the Office of the Prime Minister of Iraq to establish a Funding Facility for Economic Reform (FFER).
Through the Facility, UNDP will support the Government of Iraq to address key economic challenges and invigorate the reform agenda. Diversifying the economy, increasing national income, and improving the management of national assets will be of specific focus.
Deputy Chief of Staff of the Prime Minister, Dr. Naufel Al-Hassan, said: “The Government of Iraq appreciates the support provided by UNDP to the implementation of the reform agenda announced by the Prime Minister, as part of a series of measures undertaken by the Government to boost the economy.”
UNDP Country Director for Iraq, Mr. Mounir Tabet, said: “In the past years, Iraq has been burdened by enormous economic challenges that are straining the fiscal budget and affecting the livelihoods of thousands of people.
Establishing the Funding Facility for Economic Reform provides an opportunity to expedite the Government’s reform plan.” FFER will mobilize expertise to support the implementation of top priority reform initiatives under the leadership of the Office of the Prime Minister.