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Thu 21 Aug 2003 04:00 AM

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World Bank chief pledges support for Iraq

On a recent visit to Iraq, World Bank president James Wolfensohn, president voiced his support for international efforts to accelerate Iraq’s economic recovery.

Following a one-day visit to Baghdad in July at the invitation of the UN Special Representative, Sergio Vieira de Mello, killed recently along with 24 other people when a cement truck exploded outside the UN headquarters in Iraq, James Wolfensohn, the World Bank’s president voiced his support for international efforts to accelerate Iraq’s economic recovery The World bank’s presence in Iraq has been part of the needs assessment process, proceeding in coordination with UN development agencies. Both organisations are co-sponsoring an assessment of the reconstruction needs in a wide range of sectors, including health, education, agriculture, water supply and sanitation, economic management, and investment climate. The assessment is conducted in collaboration with the International Monetary Fund, the European Union, and in close coordination with Iraqi experts at the technical level. The findings, to be discussed with the newly formed Iraqi Governing Council, will serve as the basis for a report to be distributed at a donor’s conference in October, highlighting priority needs and funding requirements for 2004.

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