Indonesia: Fourth Development Policy Loan

WASHINGTON, December 4, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD Loan: US$600 million

TERMS: Maturity= 20 years; Grace= 5 years

PROJECT DESCRITPION: The overall goal of the project  is to help the Government achieve its medium-term growth and poverty reduction objectives. The proposed Fourth Development Policy Loan (DPL 4) is the fourth in a programmatic series of single-tranche operations. The program has evolved in step with the Government reform agenda, shifting from an initial focus on macro-reforms to institutional reforms designed to create the regulatory frameworks and policies required to sustain medium-term growth and social development. Specifically, it supports a core set of policy actions in the Government’s medium term strategy and annual work plans and builds on Government-issued policy packages, to achieve three critical and mutually reinforcing objectives: (i) an improved investment climate; (ii) enhanced public financial management, governance, and anti-corruption efforts; and (iii) improved public service delivery.

For more information please call  Elisabeth Jane Mealey  (202) 458 447  or email emealey@worldbank.org