Contacts:
In Washington: John Donaldson (202) 473-1367
jdonaldson@worldbank.org In Abuja: Obadiah Tohomdet (234) 09-3145269-74
otohomdet@worldbank.org WASHINGTON , February 1, 2007 – The Board of Executive Directors of the World Bank today approved a US$25 million International Development Association (IDA) credit* to provide additional funding for the Community Based Poverty Reduction Project (CPRP) in Nigeria. The project aims to improve access for the poor to social and economic services and increase the availability and management of development resources at the community level. The Project will be implemented in eight states: Abia, Cross Rivers, Ekiti, Kogi, Kebbi, Yobe, Kwara, and Ebonyi. The additional financing will ensure that about 600 community-based poverty reduction micro-projects that are currently underway are completed.Thefunding will also help maintain the momentum of the Community-driven development approach in the country until a nationwide community development project, currently under preparation by the Federal Government, begins. “The additional funding will continue to support government efforts to empower communities to become agents and beneficiaries of change to improve the lives of their citizens,” said Foluso Okunmadewa, the World Bank Task Team Leader of the project. The additional financing will address unmet demands and requests from community groups for micro-projects in virtually all the states currently implementing the CPRP. The first Community Based Poverty Reduction Project (CPRP), using the community driven development approach was approved in 2000 for US$60 million. The supplemental credit is for two years and will close on August 31, 2008. *The IDA credit has a maturity of 40 years with a grace period of 10 years. The credit is interest free with a service charge 0.75 %.
| 
RSS