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World Bank Iraq Trust Fund

World Bank Iraq Trust Fund. The World Bank Dead Sea, July 19 th , 2005. Dead Sea, July 19th, 2005. World Bank Emphasizes Iraqi Leadership. The comparative advantage of World Bank financing – and the measure of its effectiveness –

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World Bank Iraq Trust Fund

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  1. World Bank Iraq Trust Fund The World Bank Dead Sea, July 19th, 2005 Dead Sea, July 19th, 2005

  2. World Bank Emphasizes Iraqi Leadership The comparative advantage of World Bank financing – and the measure of its effectiveness – is in the institution building associated with its projects. Dead Sea, July 19th, 2005

  3. ITF Project Initiation By end-December 2004 (nine months after ITF inception) the World Bank and Iraqi counterparts prepared, appraised, approved, and signed Grant Agreements for nine projects… …in all 18 governorates … totaling US$366 million … obligating 93% of available ITF funds to projects Dead Sea, July 19th, 2005

  4. ITF Project Types • Seven out of 9 investment projects for US$355 million are grants to Iraqi institutions • Thus, 90% of ITF funds are managed, contracted and disbursed by Iraqi agencies (5 line ministries and the Municipality of Baghdad) • Two technical assistance projects for US$10 million provide capacity building implemented by World Bank on behalf of MoPDC • Less that 3% of ITF funds are managed, contracted and disbursed by World Bank Dead Sea, July 19th, 2005

  5. Profile of ITF Investment Projects • Six ITF investment projects are grants for large reconstruction and rehabilitation projects to be implemented over 2-3 years by Iraqi agencies. • Five of the seven projects have been operational only about 6 months. • Six out of the seven projects are geographically spread throughout Iraq. • All of the projects finance goods and works that require time for bidding, contracting, delivery, and invoicing prior to disbursements. Dead Sea, July 19th, 2005

  6. ITF Capacity Building Projects • Capacity building is built into World Bank investment projects • The ITF also finances two stand-alone capacity building projects Dead Sea, July 19th, 2005

  7. ITF Disbursement: Overview • ITF grants are disbursed in accordance with World Bank procurement policies (in line with best practice standards) • Disbursement followsproject implementation (disbursement occurs after satisfactory delivery of goods/services) Dead Sea, July 19th, 2005

  8. Implementation Status • Implementation on the ground will continue to be challenging • World Bank will provide on-going close and pro-active assistance to implementing agencies Dead Sea, July 19th, 2005

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