(MENAFN) On Wednesday, the Iraqi authorities launched the Social Fund for Development (SFD) with an initial capital of UDS300 million, and the move aims to decrease the poverty rate in the war-torn country.
The SFD was found in company with civil society organizations under the backing of the World Bank to the government's strategic plans.
"The SFD will start operating based on the results of a rural areas development survey in three provinces, as a first stage; al-Muthanna province as one of the poorest provinces in Iraq, Salahuddin as the most affected and poor in rural areas, and Dohuk as one of the provinces that received large numbers of displaced people running from the battles of liberation from the terrorists of IS," Iraqi Minister of Planning, Nouri Sabah al-Dulaimi, stated in a press conference in Baghdad.
Al-Dulaimi affirmed, "Four provinces will be included in the second year of the fund's work, and all provinces will be covered in the third year".
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