| WASHINGTON, May 15, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA—US$ 15.0 million
TERMS:Â Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: The Second Georgia Social Investment Fund Project has the following development objectives: participating local self-governments use enhanced management skills and a participatory process in establishing local development plans and setting investment priorities; participating poor communities apply for, manage and use micro-projects in a sustainable manner; and participating poor communities benefit from improved social and economic infrastructure and related services. To that end, the project will place an explicit emphasis on strengthening the interaction between local self-government and citizens in improving the quality of life in communities. For more information, please call Miriam Van Dyck at (202) 458-2931, fax at 522-3362, or e-mail mvandyck@worldbank.org.Â
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