World Bank confirms its full commitment to provide support and assistance to automate public financial management in Iraq

Baghdad-INA
World Bank confirmed on Sunday,  its full commitment to provide support and assistance to automate public financial management in Iraq.

The Media Department of Parliament, in a statement received by the Iraqi News Agency (INA), that "the Finance Committee, headed MP Atwan Al-Atwani and in the presence of a number of its members, hosted a World Bank delegation to follow up on loans for projects funded by the Bank within the Federal General Budget Law for the year 2023, and the system automation mechanism finance in the country.
The statement added, "The committee welcomed at the outset of hosting the World Bank delegation in the Parliament building, appreciating the role of the World Bank in supporting the Iraqi government to finance spending chapters with loans necessary to implement projects according to spending units, and joint cooperation between the two sides."

It continued, "The Finance Committee discussed finding appropriate solutions to implement projects that were signed with the World Bank and how to finance spending units, in addition to reviewing to expedite the implementation of projects throughout Iraq, as well as the need to maximize revenues by switching from a paper system to an electronic system."

It indicated that "the committee listened to a delegation from the World Bank regarding its visit to the Ministry of Finance related to financing projects for spending units and disbursing loans in this regard, as well as briefing it on the vision of the Ministry of Finance on completing the points agreed upon in accordance with the new vision of the ministry, as the delegation indicated that there is the appropriate ground to achieve implementation steps projects, stressing his full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress."

The statement  added, "The committee discussed with the World Bank the possibility of benefiting by providing assistance in preparing an integrated financial system project (ifms), presenting a complete budget and preparing final accounts reports for the draft budget."

At the end of the meeting, the committee affirmed "its aspiration to shift from the paper system to the electronic system to make progress in modern financial transactions and to prepare an integrated project in this regard."