WASHINGTON, November 4, 2008- The following project was approved today by the World Bank’s Board of Executive Directors: IDA Credit: US$90 Million Equivalent TERMS: Maturity = 40 years; Grace = 10 years Project Description: The Fifth Poverty Reduction Support Credit (PRSC-5) is designed to assist the Government of Mozambique (GoM) to implement key policy actions outlined in its 2005-2009 second action plan for the reduction of absolute poverty (known as PARPA II by its Portuguese acronym) and in the performance assessment framework agreed by the government and the 19 external partners that provide General Budget Support (GBS) to GoM. Within this context, PRSC-5 is expected to help the GoM in (a) the consolidation and deepening of the institutional reforms in the area of macroeconomic management; (b) reforms in governance by supporting decentralization to enhance public investments and service delivery at the provincial and district level, and by supporting public sector reform; and (c) economic development by removing constraints to growth, such as infrastructure, and promoting agricultural growth. The PRSC-5 also supports the implementation of the government policy response to the higher global food and fuel prices. Media Contact Rachel McColgan-Arnold (202) 458-5299 rmccolgan@worldbank.org For project documents, please visit: http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P107313 |
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