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Iraq

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 closed in 1979 Non-accrual status since 1990. Reengagement with Iraq. Watching Briefs launched in early 2003

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Iraq

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  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: int’l 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 Iraq’s 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 Bank’s 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 Bank’s Program • Reconstruction needs to be country-driven • Focus on Bank’s comparative advantage: implementation through Iraqi institutions

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