WORLD BANK EXCLUDED FROM IRAQ RECONSTRUCTION

2.26.59pm UTC (GMT +0000) Tue 8th Apr 2003

Responding to confirmation from James Wolfensohn (President of the World Bank) that the World Bank has not been invited to take part in the post-war reconstruction of Iraq, Vince Cable MP, Liberal Democrat Shadow DTI Secretary, said:

"The exclusion of the World Bank from the process and the constitutional bar from involvement until the new Iraqi administration is recognised by the UN, underlines the seriousness of the problem."

"The people of Iraq will be best served if the reconstruction of their country is supported by a multilateral effort. Bodies such as the World Bank and the IMF have practical experience to bring to the process.

"If expertise from around the world, including from other Middle Eastern countries, is mobilised, this will help build confidence about the coalition's intentions, and obtain best value for money."