Jim Yong Kim, President of the World Bank Group, noted that even in theface of substantial challenges, democracy is taking root inIraq. He believes that Iraq’s success can bring stability andprosperity to hundreds of millions of people. He discussed three critical steps that Iraq must continue to build the foundations of an inclusive society. First, lookbeyond the traditional social, cultural, and geographicboundaries in Iraq. Empower all its regions, and givemore capacity to local government, all the way to themunicipal level. Second, Iraq needs to diversify itseconomy. Third, Iraq needs to put its economic house inorder, reducing waste of precious resources, strengtheningaccountability, and undertaking important, necessaryreforms. In the energy sector, for example, reforms mustaddress subsidies which contribute to chronic and pervasiveshortages of electricity. He concluded by saying thatthrough war, violence and strife, the Iraqi people haveshown the world the meaning of resistance, resilience,courage, and nobility.
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