On 17-18 February 2010, the first Meeting of the Working Group on Infrastructure Finance in Iraq was organised in co-operation with the Jordan Executive Privatisation Commision in Amman.
The meeting was a follow-up to the Conference on Opportunities for Infrastructure Finance in Iraq, that took place on 21 November 2009 in Baghdad. The Baghdad Conference had asked the Government of Iraq, with the support of the MENA-OECD Investment Programme, to establish a Working Group with the following objectives:
- Make recommendations on priority infrastructure needs and appropriate financing mechanisms,
- Identify issues and obstacles associated with the most applicable financing mechanisms and make recommendations to address these issues,
- Identify high priority infrastructure projects and prepare proposals and recommend implementation to the Government of Iraq, and
- Monitor project implementation.
This first meeting of the Working Group brought together 19 high-level representatives of the Government of Iraq as well as international and regional experts. Representatives from the MENA-OECD Investment Programme, the World Bank, MIGA, UNDP, UNIDO, the Islamic Development Bank, and national lending and guarantee agencies gave an overview of their role in infrastructure finance, and members discussed sources of funding for infrastructure projects in Iraq: public-private partnerships and development bank loans.
Following the mandate of the Baghdad conference, members of the working group decided on the following concrete actions:
- Establish a central database with information provided by the members of the working group on infrastructure projects within the different Iraqi line ministries and agencies;
- Using this database, the working group will facilitate decisions within the government of Iraq on priorities according to proposed common criteria;
- Address capacity issues related to the conduct of feasibility studies, strengthen implementation capacities, and facilitate access to lending and guarantee agencies, international expertise and best practice material;
- Based on these criteria, establish a list of 15-20 priority infrastructure projects to be prepared for presenting to private investors or loan agencies.
Working group members will report on progress on these four actions at the second meeting of the Working Group to be held in April 2010.
Agenda (English / Arabic)
- Session 1: The Iraqi Experience of Infrastructure Finance
- Session 2: Extra-Budgetary Sources of Funding for Infrastructure Projects: Public-Private Partnerships
- Session 3: Extra-Budgetary Sources of Funding for Infrastructure Projects: Development Bank Loans
- Session 4: Potential Projects as Case Studies for Infrastructure Finance
(English / Arabic)