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WASHINGTON, December 9, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA = US$25.00 Million
TERMS: Grace Period =10 years; Maturity = 40 years
PROJECT DESCRIPTION: This project’s main objective is to support the establishment of a comprehensive enabling environment for attracting private sector investment. In particular, this project would assist in: strengthening the Ministry of Energy and Mineral Development’s policy making, regulatory and sector management capabilities; transitioning the State’s role from owner and operator of mining assets to regulator and administrator; preparing and implementing a legal and regulatory framework to promote private exploration and mine development activities, with explicit criteria and non-discretionary procedures for granting and foreclosing mining rights; and institutional strengthening, mainly by modernizing and developing local capacity.
For more information, please call Tim Carrington at (202) 473-8133 or email: tcarrington@worldbank.org For project information documents, visit: http://web.worldbank.org/external/projects/main?pagePK=104231&menuPK=228424&Projectid=P079925
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