World Bank supports automated public financial management in Iraq
The World Bank. Photo: Reuters
Baghdad (IraqiNews.com) – The World Bank confirmed on Sunday its full commitment to provide support and assistance to automate public financial management in Iraq, the state news agency (INA) reported.
The press office of the Iraqi Parliament mentioned in a statement that the Parliamentary Finance Committee, headed by MP Atwan Al-Atwani, hosted a World Bank delegation to follow up on loans for projects funded by the bank within the federal budget law for 2023.
The visit of the World Bank delegation also aims to check the automation mechanism of the country’s financial system, the statement explained.
The parliamentary committee valued the role of the World Bank in supporting the Iraqi government to finance the expenditure sections with the necessary loans to implement projects, the statement mentioned.
The Finance Committee discussed ways to implement projects agreed upon with the World Bank, accelerating the implementation of projects throughout Iraq, as well as the need to maximize revenues by adopting electronic system.
The delegation stressed its full commitment to provide support and assistance to automate public financial management in Iraq and achieve progress, the statement elaborated.
The Iraqi committee discussed with the delegation the possibility of benefiting from providing assistance in preparing an Integrated Financial Management System project (IFMS), presenting a complete budget, and preparing final accounts reports for the draft budget.