To enhance the effectiveness of development cooperation, we are one of the partners in the Mutual Reliance Initiative (MRI), which sees the Bank join forces with the French Agency for Development (AFD) and Germany’s KfW Development Bank.
The initiative allows the promoters of investment projects co-financed by the three development institutions in EU partner countries to benefit from a larger project finance capacity through a structured division of labour.
Blending expertise
The EIB, KfW and AFD are all significant players in European external action, but they work under different regulations, statutes and legal and governance structures.
Under this initiative, most of the tasks during the project cycle are given to one of the three institutions as a lead financier, from appraisal to preparing lending decisions and implementation. The lead financier is appointed because they will have particular expertise in a given economic sector, or a significant presence in the project cou
New partnership with Germany to create sustainable employment opportunities for Iraqis [EN/AR/KU] humanitariannews.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from humanitariannews.org Daily Mail and Mail on Sunday newspapers.
New partnership with Germany to create sustainable employment opportunities for Iraqis [EN/AR/KU]
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Baghdad, 21 December 2020 – Germany has reaffirmed its partnership with the United Nations Development Programme (UNDP) by investing EUR 30 million (US$35.89 million) to enhance economic empowerment and create employment opportunities for vulnerable communities in Iraq. The contribution was made available by the German Federal Ministry for Economic Cooperation and Development (BMZ) with financing provided through Germany’s KfW Development Bank. With that contribution, BMZ has over the past five years committed more than EUR 340 million to various UNDP programmes in Iraq.
Focusing on areas with the hardest-to-return populations in Anbar, Diyala, Kirkuk, Ninewa and Salah Al-Din, the Building Resilience through Employment Promotion (BREP) project gives Iraq the opportunity to build forward better in its recovery from the COVID-19 pandemic. The project will provide more than