The Bank's strategic objective in Iraq is to help the country develop institutional frameworks, policies, and systems for more effective, accountable, and transparent use of Iraq's resources.
To achieve this, the Bank's Second Interim Strategy Note provides a framework for analytical and advisory activities, technical assistance, Trust Fund resources from the international donor community, and up to US$500 million in IDA lending.
Projects financed by the World Bank Iraq Trust Fund (ITF) within the International Reconstruction Fund Facility for Iraq (IRFFI) build institutional capacity and finance improvements to education, health services, irrigation and drainage, and water supply and sanitation. Despite security challenges, the pace of project contracting has accelerated during 2006/2007 as Iraqi capacity to meet Bank standards for subproject design, tendering, and contracting has strengthened.
The World Bank also provides policy advice and technical assistance which focuses on governance and private sector development, including work on fiscal federalism, public financial management, procurement reform, medium-term fiscal framework, social safety net and pension policies and systems, and education sector strategy and financing.