| WASHINGTON, June 26, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA-US$ 5 million
TERMS: Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: This supplemental operation will complete and strengthen the poverty reduction activities of the ongoing project, which encompasses three main activities: (i) construction/rehabilitation of social and economic infrastructure in low income neighborhoods while creating jobs for local people; (ii) support to community development, through social mobilization programs and investment grants for the creation of community facilities; and (iii) institutional capacity building, including for monitoring poverty. The supplemental credit will focus on implementing worthy social and economic infrastructure subprojects which are ready for implementation and await funding. For more information, please call Sereen Juma (202) 473-7199 or e-mail at Sjuma@worldbank.org
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