Benin: Second Poverty Reduction Support Credit

WASHINGTON, June 14, 2005 - The following project was approved today by the World Bank’s Board of Executive Directors:

IDA CREDIT AMOUNT: US$30.0 million

TERMS:   Grace period = 10 years; Maturity = 40 years

PROJECT DESCRIPTION: This project’s main objective is to support the implementation of Benin’s Poverty Reduction Strategy and strengthen the Government’s capacity to design and carry out its own development and poverty reduction programs. The project will help deepen the content of reform programs and expand the coverage to new sectors, including agriculture, rural transport and justice. The credit will also focus on a number of reforms to improve governance, enhance private sector development, improve the business environment, and ameliorate public service delivery.  For more information, please call Aby Toure at (202) 473-8302 or email: akonate@worldbank.org For project information documents, visit: http://web.worldbank.org/external/projects/main?pagePK=104231&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P074313