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The Business Case for Investing in Women’s Employment in Iraq - Company Insight, Nafith Logistics Co.: Supporting Women in Non-Traditional Roles

(World Bank, Washington, DC, 2022) International Finance Corporation ; World Bank

This is the first of a three-part company insight under the MGF to highlight forward-thinking companies and inspire other businesses to design more gender-aware environments based on models that work. It offers a closer look into Nafith Logistics, a logistics service provider that aims to streamline cargo transport connecting the hinterland to the ports in Iraq. It showcases how supporting women in non-traditional roles improves staff retention, attendance rates and innovation at the workplace.
The Business Case for Investing in Women’s Employment in Iraq: Company Insight - Ashur International Bank for Investment - Advancing Women in Business Leadership & Management Banking/ Financial Sector, Iraq

(World Bank, Washington, DC, 2022) International Finance Corporation ; World Bank

In Iraq, women are generally absent from senior management and leadership positions, with an estimated representation of just 1 percent - even lower than the regional average. Women also account for more than half of the financial sector’s workforce, owing in part to government directives to appoint more females within Iraqi banks. In 2018, with International Finance Corporation (IFC) assistance, the Central Bank of Iraq required that every Iraqi bank’s board of directors should include at least one woman. Many private banks in Iraq are currently developing modern banking practices, with several of them prioritizing gender diversity in leadership positions. This company insight explores the experience of one such Iraqi bank, Ashur International Bank for Investment (Ashur Bank), which has been a pioneer for private banks in recruiting and promoting women to management positions. In Ashur Bank’s experience, these policies have improved the company’s performance, driven economic growth and profitability, and improved innovation. The sample size however is not statistically significant and cannot be used to draw definite conclusions but rather provides anecdotal evidence on the topic of this study.
Breaking Out of Fragility: A Country Economic Memorandum for Diversification and Growth in Iraq

(Washington, DC: World Bank, 2020-09-30) World Bank

Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises—including an oil price shock, the COVID-19 pandemic, and recent instability and protests—coupled with poor economic policies, a lack of reforms, and an inability to tackle corruption, Iraq is having its worst annual economic growth performance in 2020 since the fall of the Saddam regime. But with every crisis comes an opportunity to reform. Iraq can embark on a long but much-needed path toward structural transformation, one that could leave its economy less dependent on oil and more driven by private sector activity. Such a path can no longer be avoided, as has been illustrated by the widespread protests since October 2019. This report highlights what Iraq can do to sustain future growth; it also shows why Iraq has not yet managed to achieve high levels of diversified growth alongside peace, stability, and a better standard of living for its people. Iraq’s high levels of fragility and conflict--reinforced by high oil dependency--hinder the country’s prospects for economic reform and growth. Despite Iraq’s existing sociopolitical and economic environment, three encouraging messages emerge from this report. First, there is a peace dividend in Iraq. Iraq’s per capita GDP was about one-fifth lower in 2018 than it would have been if not for the conflict beginning in 2014. Thus, maintaining peace can by itself be a strong driver of growth. Second, Iraq has latent export potential for a variety of goods that, if tapped, could diversify the country’s economy, raise living standards, and boost economic resilience. Third, Iraqi agriculture could be revived to serve as a pillar of a more diversified and private sector–led economy.
The Unfulfilled Promise of Oil and Growth : Poverty, Inclusion and Welfare in Iraq 2007-2012

(Washington, DC, 2014-12-01) World Bank

Iraq appears to have firmly entered the ranks of upper middle-income countries in 2012, having experienced strong economic growth following the establishment of a civilian elected government in 2005-06. In 2012 the years of growth culminated in a per capita GDP of 2472 constant 2005 US$. This three-volume poverty and inclusion assessment provides the first in-depth analysis of Iraq's economic and social development during the period of 2007 to 2012. Volume 1 is an overview of the economic climate in Iraq, providing brushstroke descriptions of its poverty reduction plans, labor markets, public health data, and education focal points. Volume 2 is a nine-chapter report on the years between 2007 and 2012, a period of relative stability in Iraq. 2007 marks the end of sectarian violence, which lasted until 2012, prior to the militancy and insurgency in the northern governorates of the summer of 2014. The country has been a nexus of conflict and fragility since the early 1980s, and has experienced multiple types of conflict: insurgency, international war, sectarian strife, persistent terrorism, regional fragmentation, and spillovers from conflict in other countries. What should have been a promising endowment of natural resources of land, oil and gas, as well of human capital, did not provide the foundation for poverty reduction and shared prosperity. The realization of potential was confounded by war and repression. A key priority of the Government of Iraq since 2005-06 has been to fill the huge knowledge gap in terms of a deeper understanding of the state of the economy and of a range of socioeconomic indicators of welfare with the objective of building a strong evidence base for effective policy making. The rich analyses presented in this report go well beyond counting the poor. It gives an incisive understanding of the multi-layered development challenges faced by the nation, which serves as a testament to the commitment of the Government of Iraq, the staff of the Central Statistics Office, and the Kurdistan Region Statistics Office. It will form the basis for a new strategy for Iraq's development and ensure broad-based welfare improvements for the population. Volume 3 consists of nine annexes and nine references in the forms of tables, boxes, and equations used in the methodologies.
Iraq Workforce Development : SABER Country Report 2013

(Washington, DC, 2013) World Bank

There is a widespread feeling of urgency in Iraq, across the public and private sectors, to improve workforce development (WfD) and the links between education and the work place. However, the country has no clear strategy or plan of action for WfD. The existing WfD structures in Iraq do not have the authority or clear agendas to move forward. In addition, the necessary linkages across technical and vocational education and training (TVET) programs and other types of education or the work place are limited. As a result, Iraq was rated at a Latent stage for all three dimensions on the Systems Approach for Better Education Results (SABER) WfD assessment: Strategic Framework, System Oversight, and Service Delivery.
Iraq Investment Climate Assessment 2012

(World Bank, Washington, DC, 2012) World Bank

Despite decades of war and instability, Iraq's abundant natural resources, strategic geographic location and cultural history endow Iraq with tremendous potential for growth and diverse economic development. Driven by windfall oil revenues in recent years, the Government of Iraq has invested heavily in rebuilding the infrastructure of the country, and its abundant oil reserves ensure that progress can continue steadily. This report was initiated at the request of the Iraqi government to assess the local investment climate and identify those high priority factors which most significantly impede private sector development in Iraq, in an effort to prioritize the recommended investments, institutional and regulatory reforms which would most significantly contribute to sustainable private sector growth and increased productivity.
Middle East and North Africa Economic Developments and Prospects, September 2011 : Investing for Growth and Jobs

(Washington, DC, 2011-09) World Bank ; Ianchovichina, Elena

The report highlights the important links between good governance on a level legal and regulatory playing field, and the ability of investment to stimulate growth. Investment in the Middle East and North Africa (MENA) region has been strong over the last two decades in comparison with Latin America and Eastern Europe. However, in the oil exporting countries, it has been primarily supported by large and expanding public investments. Oil importers, in contrast, have shown more strength in private investment, which has increased in recent years. A concern with reliance on public investment is that in economies with weak governance there is no evidence that public investment stimulates growth. In contrast, in countries with an adequate level of protection of property rights and legal institutions, public investment is strongly linked to growth. The report also makes a strong case for private investment in services and manufacturing as engines of job creation and income growth in the region.
Middle East and North Africa Economic Developments and Prospects, January 2011 : Sustaining the Recovery and Looking Beyond

(Washington, DC, 2011-01) World Bank ; Ianchovichina, Elena

The impact of the global financial and economic crisis on the Middle East and North Africa region was relatively mild. Lack of integration and a large public sector helped insulate the region to some extent, but now these and other factors are slowing down the speed of its economic recovery. The report examines the major factors threatening the recovery and those that obstruct long-term growth – especially non-oil export growth, which in net terms contributed little to regional growth during the past decade, with non-oil exports remaining below potential in many countries in the region. The report emphasizes several major areas in need of policy makers’ attention, including restrictive trade policies, particularly those affecting trade in services; governance issues linked to uneven application of rules and regulations; inefficient and inflexible labor markets and scarcity of skills, innovation and technological capabilities.
Republic of Iraq: Financial Sector Review

(World Bank, Washington, DC, 2011) Nasr, Sahar

This report was initiated at the request of the Iraqi government to get a better understanding of the overall financial sector in Iraq. The main objective of the report was to develop a comprehensive assessment of the financial sector. This report takes a first look at the overall financial system of Iraq with a forward looking approach. Key findings of the report are: 1) Iraq's financial sector is dominated by the banking system, with most assets held by state-owned banks; 2) many private banks are in the process of developing modern banking practices, but still need further strengthening and consolidation; 3) other financial markets are concentrated at the Iraqi stock exchange but capitalization is low, and few instruments are traded; 3) the insurance sector is small, dominated by state- owned enterprises, and is not supervised; 4) weak financial infrastructure is a clear impediment to access to finance; and 5) Small Medium Enterprises (SME) and microfinance is not well developed.
The World Bank in Iraq: Iraqi Ownership for Sustainability

(World Bank, Washington, DC, 2005-06) Hadad-Zervos, Faris

This paper examines the experiences of the World Bank Group in other countries, and explores its work in Iraq in light of its mandate and areas of impact. It outlines the objectives the Bank Group has sought to meet and the procedures used to adapt to the Iraqi context, while focusing on transparency, inclusiveness, and sustainability. While the Bank's current focus in Iraq is on reconstruction and essential services, the near term offers a chance to lay the groundwork for credible institutions of social inclusion, in addition to supporting sustainable reconstruction and reform. This paper looks at how Iraq, a country with ample natural and human capital, can look past the immediate needs of post-conflict reconstruction to an eventual return as a middle-income country that managed its own affairs and contributed assistance to other countries. Models for reconstruction are closely looked at as to how to move Iraq to country ownership. The paper also looks at how to adopt post conflict reconstruction experience and adapting it to Iraq. The final section of the paper deals with lessons of experience and lessons learned.