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While past years saw a country in transition, with sectarian violence particularly from 2005-2008, and strong presence of foreign intervention, the situation in Iraq is changing, and Iraqi-led political processes are maturing. The last United States (... + While past years saw a country in transition, with sectarian violence particularly from 2005-2008, and strong presence of foreign intervention, the situation in Iraq is changing, and Iraqi-led political processes are maturing. The last United States (US) troops withdrew in December 2011, marking the end of eight years of the US-led military presence in Iraq. The international donor community, which has been heavily involved in Iraq over the past years, is incrementally withdrawing or shifting from grant-based reconstruction efforts to loans and partnerships. Two elections have been held since 2003, providing for further maturity in national political processes. The latest elections were held in 2010, resulting in a delicately balanced governing coalition. The Government has been organizing itself to develop and agree on complex national compacts at a country and sectoral level: on sharing the country's national resources through the hydrocarbons law; and designing and implementing strategies in key areas such as energy, education, and pensions. Iraq has returned as an active member of the international community, forging long-term engagements with international organizations and re-connecting with the region at large, reflected, for example, by hosting the 2012 Arab Summit. In 2010, the Government prepared the National Development Plan (NDP) 2010-2014, a medium-term development strategy aimed at providing a framework for the country's sustainable development. To support the country's efforts to build stronger government institutions and a more diversified economy that can deliver services to the population and create jobs, the Country Partnership Strategy (CPS) is structured to pivot around three axes: (i) Improving governance; (ii) supporting economic diversification for broadly-shared prosperity; and (iii) improving social inclusion and reducing poverty. The key focus areas which shaped existing programs (i.e. public financial management, strengthening institutions, private sector development, infrastructure, and service delivery) remain relevant in this context.

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Iraq - Country partnership strategy for the period FY13 ...

The World Bank Group is currently preparing a new Country Partnership Framework for Iraq which will focus on supporting the Government of Iraq in the implementation of critical economic reforms to support job creation and reconstruction. A consultation draft will be made available online in addition to the timeline for consultations across Iraq

Since April of 2015, the World Bank has re-focused its strategy to help the GOI manage the twin fiscal and security shocks, while improving service delivery and increasing inclusion of vulnerable groups, particularly in the liberated areas. To that end, the World Bank approved i) in July 2015, a US$350m financial package, the Emergency Operation for Development (EODP), which supports the reconstruction of damaged infrastructure and restoration of public services in areas liberated by the government in two governorates; ii) in December 2015, a US$1.2 billion and in December 2016, a US$1.44 billion Development Policy Financing loan (DPF) to help Iraq weather the fiscal crisis and advance reforms in three areas: improving the management of public finances, securing a more stable and sustainable supply of energy, and supporting more efficient and transparent state-owned enterprises; iii) in December 2016, the World Bank provided US$41.5m to support Public Financial Management (PFM) reforms through automating the budget process with the development of the Iraqi Financial Management Information System (IFMIS), implementing Public Investment Management (PIM) and Public Procurement reforms at the Federal and KRI governments level; and iv) in September 2018, the World Bank and the European Union have signed a US$18.1m Administration Agreement (AA) for the Bank to implement the new Strengthening PFM Oversight and Accountability Institutions in Iraq, funded by the EU which addresses some of the key vulnerabilities in Iraqs PFM areas of intervention with a focus put on: strengthening payroll reporting and oversight, enhancing efficiency and accountability in public procurement, improving the supervision of non-financial state-owned enterprises, improving the regulatory framework, supporting fiscal transparency, strengthening legislative budget oversight, strengthening the external audit function, and confronting and combating corruption.

As an urgent response to the enormous reconstruction needs after liberating Mosul from ISIS, the World Bank Board of Directors approved in 2017 additional financing to the Emergency Operation for Development (EODP) of US$400m. The additional financing aims to include more cities to the emergency support with two additional sectors; agriculture and education.

In early FY18, the Board approved 3 operations totaling $710m, namely; Baghdad Water and Sewerage Improvement ($210m), the Iraq Social Fund for Development ($300m) and the Emergency Social Stabilization Project ($200m). All projects have been declared effective in July and August 2018.

Moreover, the World Bank has supported the GOI in developing the Reconstruction and Development Framework (RDF) that outlines the Governments commitment and approach to moving from emergency to recovery and development for the population affected by the crisis. The framework addresses the distinct challenges in the liberated areas while at the same time recognizing the need for broader national reforms that benefit the entire country, including the governorates indirectly affected by the conflict. The framework covers the Challenges and Recovery Needs, Recovery and Development Plan, Institutional and Implementation Arrangements. The RDF builds on the findings of the Damage and Needs Assessment (DNA) that was carried out by the GOI with help from the WB. The DNA was unpresented in its sectoral and geographic scope, covering damages and needs for building back in a resilient manner across 19 sectors in all seven conflict-affected governorates in Iraq. The DNA revealed damages worth $ 45.7 billion and needs amounting to US$88.2 billion.

The World Bank has also supported the GOI through the preparation of the Iraq future vision under Iraq Vision 2030, which defines the elements and the strategic reforms to establish a new social contract for peace and prosperity. the vision focuses on (i) a new governance framework to ensure better service delivery; (ii) rebuilding the human capital; (iii) job creation; and (iv) macroeconomic framework to enable inclusive and sustainable growth.

International Finance Corporation (IFC)

The IFC has played a strong counter-cyclical role in Iraq over the last several years. IFC's committed portfolio in Iraq has grown considerably over the last five years and exceeded $1.5 billion diversified geographically and across sectors, in power, telecoms, manufacturing, agribusiness, logistics, and services. In FY16, IFC committed US$375 million in MGES Power, the leading local private power investor in Iraq to help meet the critical infrastructure needs of the country. In FY18, IFC committed $269 million with Zain Iraq, the leading mobile operator, to support the rehabilitation of their network in the liberated area. IFC current investment pipeline consists of potential investments in retail, healthcare (hospital), ports, digital financing, and power.

The IFC is closely collaborating with the World Bank teams on applying the Maximizing Finance for Development (MFD) principles across strategic areas. Besides infrastructure and energy (other than upstream oil and gas), transport and water have been identified as potential MFD sectors. The Financial sector has been selected as another critical sector that would require WBG support under MFD.

Multilateral Investment Guarantee Agency (MIGA)

MIGAs outstanding gross exposure in Iraq stood at US$8 million. MIGA signed its first contract in Iraq in FY2011 for a project that supported a Turkish investment in a water bottling plant in Baghdad. In FY2014, MIGA provided a guarantee for a project in the telecom sector in Kurdistan region of Iraq and in FY2015 MIGA supported a port logistics project in Umm Qasr. As a Fragility, Conflict, and Violenceaffected (FCV) country, Iraq is eligible for projects to be supported by MIGAs Conflict-Affected and Fragile Economies Facility, a multi-donor trust fund aimed at enabling MIGA to assume higher risk and insure more investment projects in FCVs. Bank has supported development of a Maximizing for Finance Development MFD-enabled Reconstruction Strategy for liberated areas of Iraq and following the successful outcome of Kuwait conference, we expect MIGA and IFC to scale up its engagement during the reconstruction phase to crowd in private investments. Bank, IFC and MIGA teams are working very closely for implementation of the reconstruction strategy.

Last Updated:Apr 01, 2019

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Iraq Overview - worldbank.org

According to Ayman Mansour, Salahaddins HR and corporate governance director, implementing new and better corporate governance policies and procedures with IFCs help has transformed the company, bringing more internal discipline and control to management and decision making, clarifying responsibility, authority and roles, and improving the caliber of leaders.

We started implementing changes to improve our corporate governance procedures about three years ago, Mansour says. Our first task was to ensure transparency. We started from the beginning by creating the right internal structure for the company, starting with the right structure and composition of our Board. Our end goal is to win and secure the trust of investors and our community.

Companies operating in conflict-affected environments, like Iraq, face unique corporate governance challenges. For such businesses, strong corporate governance can be a key to sustainability. Mansour says the main problem initially was the general lack of awareness about corporate governance and limited opportunities available to learn about it.

The challenge was how to acquire the knowledge to make the right changes, where to start, how to implement the changes, and find the right experts to help us to take the next steps, he says.

IFC stepped in. Corporate governance in FCS plays a pivotal role as improved practices are key to attract direct investments and ultimately to stimulate social welfare and economic growth. Effective governance means communication channels between shareholders and managers are clear and well-established, strategic directions are well thought of, risk management measures are in place. For family-owned businesses, attention must be given to succession planning to facilitate non-controlling shareholder involvement in these companies.

As well as partnering with local institutions, IFC recently launched the first independent institute of directors in Iraqthe Kurdistani Institute of Directors (KIoD)alongside the Erbil Chamber of Commerce and Trade. It will provide corporate governance advisory services to help strengthen the role of independent directors and boards in Iraq, and raise awareness of best practices.

The initiative is another step in IFCs strategy to spur private sector growth in Iraq by improving smaller and medium businesses management skills, business performance and competitiveness. It is also part of IFCs aim to scale up support for fragile and conflict-affected states, where private sector investment is key to create jobs and spur growth.

With IFCs support, KIoD has already graduated the first patch of board development program, providing training for 20 entrepreneurs in Erbil in March. In total, IFC has provided corporate governance services to six Iraqi companies, including Salahaddin, and conducted nine educational events, reaching about 447 participants and helping to build the capacity of 16 Iraqi trainers.

IFC also partnered with the Women Empowerment Organization to conduct corporate governance training for current and potential female directors and businesswomen to equip them with the needed skills to effectively succeed in their roles. Thus far 51 women participated in the different trainings, and 35 women participated in a training of trainers workshop.

Last but not least, we supported the completion of a corporate governance banking code and the completion of banking guidelines by the Iraqi Central Bank. Yet, more work is envisioned to support local IFC clients and partners to expand and deepen the impact of corporate governance.

Corporate governance is a very important part of our work in Iraq. It makes companies stronger and helps them to withstand crises, says Amira El Saeed Agag, IFC corporate governance officer in MENA. Our aim is to give companies various tools to strengthen their resilience. The very survival of the company may depend on a strong board and its ability to make the right decisions quickly.

IFCs corporate governance efforts in Iraq and FCS countries will not only create lasting impact for private sector development, by helping them to attract investments and south-south knowledge dissemination and cooperation, but also yield important lessons for IFC as a whole on how to operate in fragile and conflict-affected environments.

IFC is implementing its corporate governance program in Iraq through a trust fund supported by the governments of Japan and Spain.

Topic page: Corporate Governance in Fragile and Conflict-Affected Situations

Fact Sheet: Corporate Governance in FCS, November 2017

Video: Strengthening Corporate Governance in FCS

Article: Strengthening Governance During Crisis, Winter 2018

Feature Story: In Sierra Leone, Focus on Corporate Governance Helps Rebuild Economy, December 2017

August 2017

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Supporting Corporate Governance in Iraq

Anti-government protesters set fires and close a street during a demonstration in Baghdad on Sunday after nearly a week of unrest throughout Iraq. Khalid Mohammed/AP hide caption

Anti-government protesters set fires and close a street during a demonstration in Baghdad on Sunday after nearly a week of unrest throughout Iraq.

Iraqi authorities say at least seven more people were killed in clashes between protesters and police in eastern Baghdad on Sunday, bringing the death toll from nearly a week of anti-government rallies throughout Iraq to more than 100 with thousands of others injured.

Protesters, who took to the streets on Tuesday frustrated over joblessness and corruption, have been met with live ammunition from security forces attempting to break up the mass demonstrations that have convulsed Baghdad and parts of southern Iraq for days.

So far, 104 people have been killed and 6,107 have been wounded in the unrest, according to figures released by Iraqi security officials. More than 1,200 security members are among the injured.

Demanding better basic public services like electricity and water and renouncing corruption, a small group of protesters assembled seemingly spontaneously last week before being dispersed by security forces.

Then the protesters put out a call to re-converge on social media and the response took observers and government officials aback: Thousands of mostly young adults in their 20s, outraged over inadequate services and poor job prospects in the oil-rich country, came out to push for more opportunity and an end to corruption.

The Iraqi army and police have responded by firing live rounds, tear gas and rubber bullets into crowds. As protests spread to other parts of the country, the bloody clashes continued.

The six days of street demonstrations mark the most serious challenge Prime Minister Adel Abdul-Mahdi has faced since he assumed office last October. He has committed to meeting with protesters without armed forces to have a dialogue about their demands.

"I will go and meet them without weapons and sit with them for hours to listen to their demands," Abdul-Mahdi said on Saturday in remarks on state television.

Anti-government protesters run for cover while Iraqi security forces fire live ammunition in the air during a demonstration in Baghdad on Sunday. Khalid Mohammed/AP hide caption

Anti-government protesters run for cover while Iraqi security forces fire live ammunition in the air during a demonstration in Baghdad on Sunday.

Abdul-Mahdi announced a plan to pay out unemployment assistance and provide government-backed housing for low-income residents in an attempt to satisfy the demonstrators who have set buildings aflame and sparred with authorities.

The United Nations envoy for Iraq, Jeanine Hennis-Plasschaert, took to Twitter on Saturday to denounce the violence, saying: "This must stop."

"I call on all parties to pause and reflect. Those responsible for violence should be held to account. Let the spirit of unity prevail across Iraq," wrote Hennis-Plasschaert.

Protesters called for top government officials to step down, as authorities cut of Internet service in Baghdad and across much of the country.

Demonstrators on Sunday also called for Iran to stop meddling in Iraqi politics.

Amid growing unrest, Marta Hurtado, a spokeswoman for the United Nations high commissioner for human rights, urged the Iraqi government to allow citizens to peacefully assembly and exercise their rights to freedom of expression without fear of a violent crackdown.

"The use of force should be exceptional, and assemblies should ordinarily be managed without resort to force," Hurtado said in a statement.

All incidents in which security forces killed or injured protesters should be promptly and transparently investigated by the government, Hurtado said.

Hurtado also said reports that three journalists covering the protests were detained and the government cutting off Internet service were alarming and should be examined.

"Blanket internet shutdowns are likely to contravene freedom of expression, unduly restricting the right to receive and impart information and may exacerbate tensions," she said.

NPR's Daniel Estrin contributed to this report.

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More Than 100 Killed And Thousands Injured In Anti-Government ...

The death toll from anti-government protests in Iraq rose to nearly 100 on Saturday, the fifth day of protests, the country's parliamentary human rights commission said. Additionally, Saudi-owned television station Al-Arabiya said masked gunmen stormed their Baghdad offices, injuring several employees and smashing their equipment.

Security agencies fatally shot 19 protesters and wounded more than three dozen. Authorities have been trying to control the protests through curfews and a near-total internet blackout, according to BBC News.

The semiofficial Iraqi High Commission for Human Rights put the death toll at 94 and said nearly 4,000 people have been wounded since Tuesday, when mostly young demonstrators spontaneously initiated the rallies to demand jobs, improvements to electricity, water and other services, and an end to corruption in the oil-rich nation.

The violent deadlock presented the conflict-scarred nation with its most serious challenge since the defeat of ISIS two years ago and deepened the political crisis of a country still struggling with the legacy of multiple, unfinished wars since the U.S. invasion in 2003.

"It has been 16 years of corruption and injustice," said Abbas Najm, a 43-year-old unemployed engineer who was part of a rally Saturday in the square. "We are not afraid of bullets or the death of martyrs. We will keep going and we won't back down."

Scrambling to contain the demonstrations, Iraqi leaders called an emergency session of parliament Saturday to discuss the protesters' demands. But they lacked a quorum due to a boycott called by influential Shiite cleric Muqtada al-Sadr, leader of parliament's largest bloc. On Friday, al-Sadr called on Prime Minister Abdul-Mahdi's government to resign and hold early elections, saying the shedding of blood of Iraqis "cannot be ignored."

Abdul-Mahdi said in an address to the nation that the protesters' "legitimate demands" had been heard, but he defended the deadly response of security forces as a "bitter medicine" that was necessary for the country to swallow.

In a desperate attempt to curb the growing rallies, authorities blocked the internet Wednesday and imposed a round-the-clock curfew on Thursday. The curfew, ignored by protesters, was lifted at 5 a.m. Saturday, allowing shops to open and traffic to flow in most of Baghdad before the new demonstrations began.

As in previous days, protesters waited to gather until the afternoon, when temperatures were cooler and ensured greater participation, and security forces responded by opening fire.

Health and security officials said more than a dozen people were killed and about 40 wounded in the capital on Saturday when security forces opened fire during protests in various neighborhoods, including central Tahrir Square, which remained closed to cars, and around which special forces and army vehicles deployed in an operation that extended as far as 1.2 miles away. The forces also unleashed tear gas, said health, police and medical officials who spoke on condition of anonymity because they were not allowed to brief reporters.

A protester who refused to be named for fear of repercussions said anti-riot police directly opened fire at the protesters. The military initially tried to stop the police but ultimately left the area, the protester said.

In a smaller, peaceful rally earlier Saturday in the capital, demonstrators raised banners demanding the resignation of Abdul-Mahdi and an investigation into the killings of protesters.

Thousands of protesters also took to the streets in the southern cities of Nasiriyah and Diwaniyah, defying a curfew still in place there. In Diwaniyah, at least one protester was killed as demonstrators marched toward local government offices, a medical official and human rights official said. They did not provide details.

In the restive city of Nasiriyah, demonstrators torched the offices of three political parties and a lawmaker whom they blame for their country's ills. Security forces responded with gunfire, but there was no immediate word on casualties, said the officials, who described the protest as "very large."

Abdul Mahdi's office and Parliament Speaker Mohammed al-Halbusi have called on protest representatives to meet with them so they could hear their demands. In a televised meeting in parliament, al-Halbusi met with a group of Iraqis and tribal representatives, mostly in their 50s and older, to discuss the country's myriad problems. Al-Hablusi repeated promises to address unemployment and poverty.

But the promises did nothing to stop the unfolding street violence. The deadliest day was Friday, when 22 people were killed in Baghdad. Health officials said many of those victims were wounded in the head and chest.

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Iraq protests: Death toll climbs to nearly 100 as protests ...