Italy to fund $4.2m project in Iraq

08 Dec 2010

(MENAFN) The United Nations Industrial Development Organization (UNIDO) said that launch in January a $4.2 million technical cooperation project in Iraq to develop industrial zones and enhance investment in the country, Reuters reported.

The two-year project will be funded by the Government of Italy, and implemented in coordination with the World Bank, according to a statement released by the UN information bureau.

This will include the establishment of an inter-agency coordination mechanism, the drafting of a comprehensive roadmap on industrial zone development, as well as capacity-building activities for counterpart institutions.

The project will also facilitate the establishment of industrial zones in two pre-determined areas in order to revitalize the private sector in those areas and rehabilitate the local economy.

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