Sixth meeting of the Working Group on Infrastructure Finance in Iraq
Beirut, 18-19 June 2012
The organisation of a series of practical, interactive, investment protection and PPP training workshops for Government of Iraq officials was a key recommendation of the sixth meeting of the Working Group on Infrastructure Finance in Iraq. The training workshops will focus on applying various PPP models to specific infrastructure projects, drawing on case studies and using small group exercises, and on the implications of investment protection gaps for each project.
The meeting discussed a draft investment protection assessment of Iraqi infrastructure projects in general, and of the Grand Fao Port and residential complexes projects in particular. The assessment is intended to highlight regulatory and institutional reforms that would increase the general level of investment protection in Iraq and make specific projects more attractive to potential private investors and guarantee agencies. The key issues identified will form a basis for the investment protection aspects of the training workshops. They include:
- International investment treaties
- Land ownership rights
- The regulatory burden
- The dispute resolution framework
- Contract enforcement
In another development during the Working Group meeting, consultancy firm Ernst and Young agreed to conduct a preliminary review of the Baghdad monorail project, focusing on the key success factors for implementation of the project with private sector participation. Other experts participating in the meeting included lawyers, project finance consultants, a senior urban specialist from the World Bank, and the head of the one-stop shop within the Investment Development Authority of Lebanon. The GoI delegation included representatives of the Office of the Iraqi Deputy Prime Minister for Infrastructure, the Iraqi National Investment Commission, and the ministries of planning, transportation, and construction and housing.