LOC21:30
18:30 GMT
WASHINGTON, Feb 14 (KUNA) -- The World Bank Group and the Iraqi Government signed two projects on Wednesday totaling USD 510 million "to help the Iraqi people by improving living conditions, enhancing water supplies, and creating jobs."
In a statement, the World Bank said that the two projects "along with the ongoing USD 750 million Emergency Operation for Development program and other planned commitments, will increase the World Bank's total commitment to Iraq to USD 4.7 billion, compared to USD 600 million four years ago."
It indicated that Iraqi Prime Minister Haider Al-Abadi and World Bank Group President Jim Yong Kim attended the signing ceremony for the two projects, which took place on the sidelines of the Iraq Reconstruction Conference held in Kuwait.
"The increased Bank commitment will help support immediate restoration of education and health services, rebuilding important roads and bridges, and rehabilitation of electricity and water systems," the World Bank affirmed.
It noted that the "ongoing emergency reconstruction projects have already created thousands of jobs for Iraqis and the new projects are expected to create millions more."
It stressed that it is "committed to scaling up its support for Iraq reconstruction and development subject to availability of resources," where in addition to the financial support, the World Bank Group has been "actively engaging with the Iraqi Government through providing technical assistance for Iraq's recovery and to lay the foundation for private sector investments in Iraq." (end)
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