World Bank Iraq Trust Fund

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 US366 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 US355
  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 US10
  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 follows project 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