$11B loans: UNDP and JICA renew partnership to boost Iraq's development

Last Update: 2024-12-21 10:50:29 - Source: Shafaq News

Shafaq News/ The United NationsDevelopment Programme (UNDP) and the Japan International Cooperation Agency(JICA) have renewed their long-standing partnership to boost Iraq's social andeconomic development through financing from the Japanese government and JICA.

“This partnership, spanning morethan 15 years of cooperation with the Iraqi government, reflects the strongcommitment of the UNDP and the Japanese government/JICA to addressing Iraq’sneed for essential services and a stable, reliable economic infrastructure,”JICA reported.

It added, “The partnership hasgreatly contributed to Iraq’s human and economic growth, aligning with nationaldevelopment plans focused on economic diversification, infrastructuremodernization, and improved social services.”

Iraq has received 36 loans totalingabout $11 billion from the Japanese government and JICA’s official developmentassistance to support reconstruction and development, including 34 for vitalsector projects and two for development policy.

“These aids aim to help Iraq achieveits sustainable development goals by improving living conditions and restoringinfrastructure to foster inclusive growth," JICA affirmed.

For his part, Hiroshi Suzuki, JICA’s ChiefRepresentative in Iraq, said, "JICA is committed to tackling developmentchallenges alongside the Iraqi government through this impactful partnershipwith UNDP. It offers comprehensive support to Iraqi officials, combiningtechnical expertise, capacity building, and development financing to meetinternational project management standards and promote sustainabledevelopment."

Auke Lootsma, the UNDP ResidentRepresentative in Iraq, stated, “Together, we aim to facilitate the successfulimplementation of key projects that will not only rebuild Iraq’s infrastructurebut also enhance long-term social and economic resilience, improving the livesof Iraqis across the country.”

Under this renewed partnership,aligned with the Iraqi National Development Plan 2024-2028, the UNDP continuesto assist the Iraqi government in implementing key socio-economic projectsfunded by JICA’s loans. This support includes coordination, loan oversight,progress monitoring, technical assistance, knowledge exchange, and capacitydevelopment.