WASHINGTON, May 13, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loans: US$232 million
TERMS: Maturity=25 years Grace Period= 10 years
PROJECT DESCRIPTION: Phase 2 will support the improvement of 450 kilometers of national arterial roads and bridges (upgrading of 146 kilometers and rehabilitation or widening of 304 kilometers) and a comprehensive road maintenance program through long-term performance-based contracts and expansion of the national preventive maintenance program. The project includes reforms in the organization and the service delivery processes that will improve the effectiveness and the integrity of the Department of Public Works and Highways in managing the road system. Furthermore, the project will strengthen the operation of the special road funds and a framework for restructuring the roads sector.
For more information, please call Mohamad Al Arief at (202) 458-5964 or email malarief@worldbank.org
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