UNITED NATIONS, March 16 (UPI) -- The U.N. secretary-general and Iraqi vice president tried to drum up international support for a five year plan to rebuild Iraq's economy.
The International Compact with Iraq "focuses on Iraq's long term economic development while also stressing progress in the political and security fields, through a mutually re-enforcing relationship," U.N. Secretary-General Ban Ki-Moon said in a meeting about the Compact at U.N. Headquarters Friday.
The Iraqi government, United Nations and World Bank worked together to draft the document.
The Compact has two parts, said the secretary-general, a national component in which Iraqis agree on political steps to stabilize the country, and an international component to "allow the international community to channel support in accordance with the priorities decided upon by Iraqis themselves."
The Iraq Compact aims for concrete results in areas of public sector resource management, institution building and energy management, said Ban.
"Sustainable growth in employment and living standards has to be driven by a strong, diversified private sector," reads the Compact. The Iraqi government must provide security and a legal and regulatory framework "but the real source of sustainable prosperity has to be the private sector."
Adel Abdul Mahdi, the Iraqi vice president, said he hoped the compact would be officially launched by the end of April.
The over 80 countries in attendance at the meeting were very supportive of the compact, said Mahdi.
"The challenges ahead are immense I am sure you will all agree that we cannot leave Iraq on its own to cope with them," said Ban. "The international compact is intended to help the government build a secure, unified, federal and democratic nation."
