WASHINGTON, November 29, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD LOAN: US$75 million
TERMS: Maturity= 18 years; Grace period= 2 years
PROJECT DESCRIPTION: The proposed Loan is the first in a proposed programmatic series of two DPLs, which build upon the FY07 Public Finance and Institutional DPL. This operation will support the Government of Panama's development program as described in its Strategic Vision document, focusing on actions aimed at:
• Promoting broad-based growth through the enhancement of private sector competitiveness, by helping to reduce bureaucratic red tape, improving training policies, and increasing investments in innovation.
• Consolidating fiscal sustainability, transparency and efficiency through the modernization of public financial management systems for revenue, debt, fiscal reporting, and public procurement.
For more information please call
Stevan Jackson (202) 458-5054 or email:sjackson@worldbank.org
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