| WASHINGTON, May 6, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA—US$6 million
TERMS: Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: This credit will assure that the ongoing International Road Corridor Rehabilitation Project, which became effective in December 2000, will reach its original development objectives. The project will secure an acceptable level of service on the Djibouti-Galafi Road, which constitutes Djibouti port’s transit corridor to Ethiopia, through physical road rehabilitation coupled with institutional strengthening activities. For more information, please call Sereen Juma at (202) 473.7199, e-mail Sjuma@worldbank.org.
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