Baghdad –INA
The Iraq Development Fund and the United Nations Development Programme (UNDP) signed a memorandum of understanding on Monday aimed at strengthening cooperation in advancing sustainable development priorities in Iraq, diversifying the economy, and expanding strategic investment opportunities.
The Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, said in a statement received by the Iraqi News Agency (INA): “The agreement establishes a framework for cooperation in areas including strengthening institutional capacities, adopting a public-private partnership approach, developing infrastructure, and supporting priority economic sectors, the partnership will also focus on key initiatives related to educational infrastructure, enhancing the resilience of water resources, and agricultural value, in addition to encouraging private sector participation, expanding investment opportunities in rural areas, and promoting inclusive economic growth.”
It added, "This memorandum of understanding reflects our commitment to building strategic partnerships that contribute to enhancing the investment environment in Iraq and supporting sustainable economic growth," explaining that "cooperation with the United Nations Development Programme aims to implement projects with a tangible impact, attract innovative funding opportunities, and support development initiatives that achieve real benefits for communities throughout Iraq."
For his part, the Deputy Resident Representative of the United Nations Development Programme in Iraq, "Sascha Graumann", said: “This partnership embodies a shared commitment to supporting development priorities in Iraq, through strengthening institutional capacities, adopting innovative financing tools, and expanding inclusive investment opportunities to achieve a sustainable impact for communities throughout the country.”
It explained that "this cooperation will also provide practical advisory support to enhance project planning, improve investment readiness, enhance stakeholder engagement, and ensure the effective implementation of future development and investment projects,” he noted that "this initiative aligns with the UN Sustainable Development Cooperation Framework in Iraq, particularly its priorities related to sustainable economic development, good governance and the rule of law, the environment and climate change, and inclusive social development."
It emphasized that "the memorandum of understanding embodies a shared vision between the two parties based on promoting innovation, strengthening partnerships, and supporting comprehensive and sustainable development pathways that benefit the Iraqi people."