IRAQ: SECOND EXPENDITURE RATIONALIZATION, ENERGY EFFICIENCY AND STATE-OWNED ENTERPRISE GOVERNANCE PROGRAMMATIC DPF

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The Second Expenditure Rationalization, Energy Efficiency, and State-Owned Enterprise Governance Development Policy Financing (DPF) Project for Iraq aims to achieve economic stabilization and lay the ground for structural reforms around three pillars, which form the operation’s program development objectives (PDOs) improve: (1) expenditure rationalization; (2) energy efficiency; and (3) the transparency and governance of state-owned enterprises. This operation comes at a time of unprecedented stress for Iraq. The country is facing the dual shock of a fiscally, socially, and politically costly brutal war waged by the Islamic State of Iraq and Syria (ISIS), and the sharp fall of the price of oil. This DPF series aims to support the government’s effort to safeguard economic stability and lay the foundations for longer-term structural reforms that will support private sector development and inclusive growth. This operation is a critical part of the World Bank’s Middle East and North Africa (MENA) region strategy to support peace and stability for economic and social inclusion.