The World Bank will send a senior Bank official to Iraq next week to accompany the newly appointed UN Special Representative in Iraq, Sergio Vieira de Mello, to assess reconstruction and development needs on the ground, the Bank announced.
Meanwhile, the Bank’s board of executive directors approved the appointment of a bank representative to serve on the International Advisory and Monitoring Board (IAMB) of the Development Fund for Iraq.
The IAMB was established as part of UN Security Council Resolution 1483, approved last week, which lifts sanctions on the country, phases out the UN Oil-for-Food Program, and aims to meet the humanitarian and reconstruction needs of the Iraqi people.
The IAMB is expected to appoint independent public accountants to audit the development fund established with future Iraqi oil revenues.
The World Bank is already undertaking a range of preparatory activities in its current stage of support for Iraq’s reconstruction and development. Work is underway on preparation of a needs assessment, joint watching briefs with the UN on certain key sectors, and an economic monitoring brief.
For weeks now, a team of World Bank experts has been assessing the most pressing needs in the potential reconstruction of Iraq, mainly in the areas of health, education, power, water and economic management.
Preparations for a full assessment mission to Iraq will take place as soon as adequate security conditions exist on the ground. Last month, the executive directors gave full authority to bank management to determine when the time is appropriate to send a mission to Iraq for a field-based needs-assessment.
Also, the Bank has invited 10 advisors and experts from seven different countries to Washington to assist in these activities. The Bank continues to work closely with the IMF, European Union, Islamic Development Bank and various bilateral development agencies in an effort to exchange information and map out avenues for future collaboration. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
