UN Fund Facility to rebuild Iraq is launched today11 December – The International Reconstruction Fund Facility for Iraq, a combination of two trust funds through which governments can contribute to the rebuilding of Iraq, was inaugurated today by the United Nations Development Group (UNDG) and the World Bank.
The World Bank Iraq Trust Fund will focus on technical assistance, infrastructure support and feasibility studies. The other fund, managed by the UNDG, administered by the UN Development Programme (UNDP) and known as the UNDG Iraq Trust Fund, will concentrate on quick impact projects and activities related to the country's political and economic transition.
On Iraq's side, two entities will supervise the spending of contributions.
The Iraqi Strategic Review Board will guide donors and make the final decision on recommendations from the Ministries of Planning and Finance. The Iraqi Ministry of Planning, renamed the Ministry of Planning and Development Cooperation (MoPDC) will serve as the Interim Iraqi Administration's primary link to the Facility and will ensure that funds are equitably distributed.
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