His Excellency the Chairman of the Reconstruction Fund for Areas Affected by Terrorist Operations Meets with the Chairman of the General Authority for Monitoring the Allocation of Public Revenues
His Excellency the Chairman of the Reconstruction Fund for Areas Affected by Terrorist Operations, Engineer Saad Amin Al-Jubouri, met today with the Chairman of the General Authority for Monitoring the Allocation of Public Revenues, Ms. Suzan Abdullah, and her accompanying delegation at the Fund's headquarters in Baghdad.
The meeting, which was attended by the Head of the Contracts Department, Engineer Mohammed Qasim, and the Director of the World Bank Loan Team, Mr. Asaad Al-Mufti, Head of the Grants and Loans Division, discussed the work mechanisms and standards adopted for distributing and allocating funds within the grant and loan programs, particularly those related to the investment budgets for previous years for the liberated governorates that benefited.
His Excellency reviewed the Fund's efforts to ensure transparency and clarity in project implementation, emphasizing full commitment to the approved technical and oversight standards.
His Excellency highlighted the service projects completed within the investment budgets and their impact on improving services and infrastructure in the liberated areas.
His Excellency explained that the Fund adopts strict oversight mechanisms to ensure the proper implementation of World Bank loans by contracting with specialized consulting firms. The Technical Auditor oversees field implementation, while the Financial Auditor monitors disbursements and allocations to the beneficiary ministries and sectors, preparing an annual report that is sent to the Fund's management and a copy to the World Bank, the project funding agency.
His Excellency pointed out the importance of enhancing coordination between oversight and executive bodies to ensure the best use of grant and loan resources and achieve reconstruction goals in the liberated areas.