WASHINGTON, February 26, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors: IBRD Loan: USD$200 million Terms: Maturity = 15 years; Grace = 5 years. Project Description: The project will test a competitive grant mechanism to cities that increase market mechanisms in housing and communal services and also strengthen social protection of vulnerable consumer groups. The project will help the Russian Government scale up the quality of housing and communal services in part based on the Bank’s global knowledge and experience in designing and implementing similar projects around the world. The loan will also finance technical support to design capital investment programs for measurable improvements in reducing operating losses, pipe breaks, water leakage, or energy inefficiency, while increasing the share of private investment in the sector and private management of facilities. For more information please call: Michael Andrew Jones at (202) 473-2588 or email mjones2@worldbank.org |
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