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Iraq

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Iraq Interim Program of the World Bank Group History of the Bank in Iraq Iraq was a founding member of the IBRD Received 6 IBRD loans between 1950-1973 Last loan ... – PowerPoint PPT presentation

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Title: Iraq


1
Iraq
  • Interim Program of the
  • World Bank Group

2
History of the Bank in Iraq
  • Iraq was a founding member of the IBRD
  • Received 6 IBRD loans between 1950-1973
  • Last loan closed in 1979
  • Non-accrual status since 1990

3
Reengagement with Iraq
  • Watching Briefs launched in early 2003
  • June 2003 intl community asks UN and World Bank
    to assess needs and prepare multi-donor trust
    fund
  • August 2003 Needs Assessment teams evacuated
  • October 2003 Needs Assessment and trust fund
    concept endorsed in Madrid

4
An Interim Strategy for Iraq
  • Aim to support Iraqs reconstruction to the
    extent possible during the interim period
  • Strategy focuses on
  • Capacity building
  • Prepare and start implementing emergency
    operations
  • Generate employment / Restore infrastructure and
    services
  • Lay the foundation for a medium-term program
  • Draws on Banks post-conflict experience and
    experience with countries in transition
  • Relies on Iraq Trust Fund for financing

5
Iraq Trust Fund
  • UN and World Bank designed International
    Reconstruction Fund Facility for Iraq
  • Consists of 2 trust funds, with common governance
    structure
  • Donor Committee endorses overall priorities and
    provides strategic guidance
  • UN/WB Facility Coordination Committee handles
    day-to-day management and coordination
  • Joint Secretariat plays informational and
    administrative role

6
Trust Fund Contributions
  • 19 donors have committed about 1 billion to the
    Facility
  • 300 million in signed commitments to the World
    Bank Iraq Trust Fund
  • 400 million expected in the World Bank Iraq
    Trust Fund by the end of June 2004

7
Interim Work Program Status
  • Capacity building program is underway
  • Emergency Textbook Provision Project (40
    million) to be signed on May 15
  • Emergency School Rehabilitation (60 million) to
    start in June
  • Emergency Rural Community Infrastructure (20
    million first phase) to start in June/July
  • Emergency Urban Infrastructure (100-150 million)
    to start in July/August

8
Future Bank Lending
  • Could lend 3-5 billion over five years, if
    threshold issues are met
  • Dealing with a de facto government
  • Clearance of arrears
  • Security
  • Will prepare a Transitional Support Strategy once
    a government that meets lending criteria is in
    place

9
Principles for the Banks Program
  • Reconstruction needs to be country-driven
  • Focus on Banks comparative advantage
    implementation through Iraqi institutions
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