| WASHINGTON, July 1, 2004-The following project was approved today by the World Bank's Board:
LOAN AMOUNT: US$100 million
TERMS: Grace period = 5 years; Maturity = 20 years
PROJECT DESCRIPTION: This project's main objective is to support the Government's public resource management effectiveness to accelerate growth and poverty reduction. The main goals are: improving the efficiency of budget expenditure by de-centralizing for greater flexibility while introducing performance budgeting and auditing; implementing a reform of the civil service for greater efficiency and service quality; and ensuring a sustainable macro framework by controlling, among other things, the magnitude of the civil service payroll. The loan will complement and strengthen the ongoing multi-year Economic and Sector Work activity through which the Bank is providing the Government with advice, training, and technical assistance for budget management and civil service.
For more information, please call Sereen Juma at (202) 473-7199, or email: sjuma@worldbank.org For project information documents, visit:
http://web.worldbank.org/external/projects/main?pagePK=104231&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P078565
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