Benin- Second Decentralized City Management - Additional Financing

WASHINGTON, June 26, 2008- The following projects was approved today by the World Bank’s Board of Executive Directors:

IDA Credit: US$40 million

TERMS: Maturity = 40 Years; Grace Period = 10  Years

Project Description: The project development objectives remain unchanged: to increase access to infrastructure and basic services for residents of Benin’s primary cities (Cotonou, Porto-Novo, and Parakou) and selected secondary cities (Abomey-Calavi, Lokossa, and Kandi). The additional financing would scale up the project impact in terms of the number of people gaining access to roads and being protected from periodic flooding.

For more information, please call Aby K. Toure at (202) 473-8302 or e-mail at akonate@worldbank.org