German School to support Iraqi Company for Bank Guarantees
By John Lee.
Germany's Frankfurt School of Finance and Management has won a contract with the International Labour Organization (ILO) to , "enhance the operational efficiency and effectiveness of the Iraqi Company for Bank Guarantees (ICBG). "
The contract value was not disclosed.
According to information provided by the UN, the project has four primary objectives: Optimize Organizational Structure: The consultancy will identify and address inefficiencies in ICBG's current structure. This involves ensuring clear lines of authority, effective delegation, and streamlined workflows. The consultancy will collaborate closely with ICBG staff to identify areas for improvement and implement new structures that support the organization's goals. Develop Comprehensive Standard Operating Procedures (SOPs): The consultancy will create detailed SOPs for all departments, providing clear guidelines and best practices for daily operations, decision-making, and compliance. These SOPs will be tailored to ICBG's specific needs and reflect industry best practices. Implement Effective Training and Coaching Programs: The consultancy will develop and deliver targeted training and coaching programs to equip ICBG staff with the necessary skills and knowledge to achieve project objectives and enhance organizational performance. This includes on-the-job training and coaching to ensure staff can effectively apply their new skills and knowledge. Support the Deployment of the USD 9 Million Guarantee Fund: The consultancy will assist ICBG in developing and implementing a comprehensive plan for the deployment of the USD 9 million guarantee fund. This will bolster ICBG's guaranteeing capacity and enable it to extend its reach to small and medium-sized enterprises (SMEs).
The project aims to strengthen ICBG's capacity to support job creation and economic growth in Iraq by improving its operational efficiency, risk management capabilities, and overall effectiveness. The project will be implemented in two phases.
(Source: UNGM)
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