The conference agreed that, to maximise donor co-ordination, an international reconstruction fund facility for Iraq should be established into which contributions by the international community may be channelled. This facility will be administered by the World Bank and the United Nations, in close co-ordination with the Iraqi authorities and donors. The establishment of the facility is to ensure that donor concerns in relation to transparency, accountability, monitoring and implementation are met and that activities are carried out in a way that meets the benchmarks of best development practice.