World Bank supports International Reconstruction Fund Facility for iraq.

0 Comments | M2 Presswire, October, 2003

M2 PRESSWIRE-22 October 2003-WORLD BANK GROUP: World Bank supports International Reconstruction Fund Facility for iraq(C)1994-2003 M2 COMMUNICATIONS LTD RDATE:10212003 WASHINGTON -- The World Bank's Executive Board of Directors today expressed broad support for a proposed International Reconstruction Fund Facility for Iraq to be presented at a donor's conference in Madrid on October 23-24.

The purpose of the Facility is to provide a coordination and trust fund mechanism for reconstruction and development in Iraq, in line with the priority areas emerging from the United Nations-World Bank joint needs assessment that was released earlier this month. The proposed Facility will comprise two independent trust funds, one managed by the World Bank and the...