Country:
Implementing Entity:
Partners:
Beneficiaries:
For more information:
Promoting responsible investment to achieve the SDGs across Iraq
Objective
To direct public and private investment towards priority sectors and governorates in line with national development priorities and the Sustainable Development Goals (SDGs).
Overview
Since 2023, Iraq has adopted an approach centred on responsible investment to achieve sustainable development across all governorates and to secure a better future for upcoming generations.
The Voluntary National Review (VNR) report included a detailed and transparent analysis of public investment trends mapped against the SDGs to highlight the Goals that received the largest share of funding. The analysis showed that, in 2023, public investments focused on nine SDGs, with an expenditure rate of about 83 per cent, indicating a high level of implementation. Further analysis of domestic investment data at the governorate level revealed that most governorates concentrated investments on SDG 16 (Peace, Justice and Strong Institutions).
Regarding private investment, the VNR referred to the SDG Investor Map, prepared with support from UNDP and its Istanbul International Centre for Private Sector in Development. Based on this map, ten areas of private investment opportunities have been identified to advance sustainable development in line with business standards. The VNR also included a list of opportunities for small and medium enterprises across key economic sectors.
Challenges
The national team faced technical and institutional challenges in classifying government expenditures according to the SDGs and in developing the SDG Investor Map. These challenges included the inconsistency of national financial classifications with the United Nations SDG classifications, the lack of detailed data from some sectoral actors, the disparity in technical capacities, and the limited up-to-date information on private investments and their alignment with sustainable development priorities.
These challenges were addressed through a phased implementation approach and the formation of joint technical teams among stakeholders to develop a national classification methodology. Work is currently under way to update the SDG database, implement capacity-development programmes and strengthen coordination with international partners, particularly ESCWA and UNDP, to develop technical tools and ensure institutional sustainability.