WASHINGTON, June 19, 2008- The following project was approved today by the World Bank’s Board of Executive Directors: IBRD LOAN: Euro 255.4 million TERMS: Maturity = 22.5 Years; Grace Period = 12.5 Years PROJECT DESCRIPTION: The PPDPL series will support a sustained medium-term process of legal, institutional, and structural development that promotes growth, improves public governance and service delivery and strengthens social conditions by (a) maintaining an enabling macroeconomic framework; (b) reforming the country’s social protection system, (c) continuing the ongoing process of upgrading financial controls and public expenditure management, and (d) improving the administration and governance of the public sector. For more information, please call Michael Jones (202) 473-2588 or e-mail here at mjones2@worldbank.org. For more information on, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P088837 | 
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