WASHINGTON, December 9, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:
IBRD Loan: US$200 million
TERMS: Maturity = 24.5 years; Grace = 9 years
Project Description: This project consists of four annual loans during 2007-2010, and aims to:
• Increase the quantity and efficiency of central Government spending on infrastructure through improved public service obligation (subsidy) policy, and expenditure planning and budgeting;
• Improve sub-national infrastructure services through increased sub-national government spending and an improved incentives framework;
• Increase private investment in infrastructure through the establishment of a fiscally sound, credible and transparent PPP framework; and
• Enhance governance for infrastructure through improved land acquisition, environmental protection, and procurement and audit processes within the Ministry of Public Works.
Media Contact
Elisabeth Mealy
(202) 458-475
emealey@worldbank.org
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