WASHINGTON, January 15, 2009 - The following project was approved today by the World Bank’s Board of Executive Directors: IBRD Loan: US$100 million TERMS: Maturity = 30 years; Grace= 5 years Project Description: The project will assist the government in improving fiscal and debt sustainability during an on-going and severe global financial crisis by supporting policies for macroeconomic stability and helping to improve the efficiency and effectiveness of public spending and investment decisions. Specifically, the project will support policy actions in the following areas: (i) promoting fiscal sustainability through controlling overall public sector balances, debt generation, and rationalization of public bodies, (ii) increasing the efficiency of public financial management and budgeting processes, and (iii) reducing distortions and enhancing the efficiency and fairness of the tax system. Media Contact Patricia Da Camara (202) 473-4019 pdacamara@worldbank.org For project documents, please visit: http://projportal.worldbank.org/servlet/secmain?menuPK=109012&theSitePK=213348&pagePK=112935&piPK=69345&PSPID=P101321 |
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