Mauritius- Second Trade and Competitiveness Development Policy Loan

WASHINGTON, February 28, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD Loan: USD$ 30 Million

TERMS: Maturity= 15 years; Grace= 5 years

PROJECT DESCRIPTION:  The objective of the project is to support a bold and comprehensive structural reform program which the Government is implementing in response to two major challenges: (i) the “triple trade shock” of trade preference erosion and high oil prices and (ii) the transition from low wage, low skill sugar and apparel exporter to innovative, knowledge and skill based services economy.

For more information,Herbert Boh  at (202) 473-3548 or email hboh@worldbank.org