Philippines: Additional Financing for the Second Agrarian Reform Communities (ARCs) Development Project

WASHINGTON, March 19, 2009 - The World Bank’s Board of Executive Directors today approved the following project:

IDA Credit: US$10 Million

Terms:  Maturity = 25 years; Grace period = 10

Project Description:  The additional financing will help finance the shortfall in resources required to complete the remaining critical infrastructure investments under the ongoing Second Agrarian Reform Communities (ARCs) Development Project.  These investments will consist of construction and rehabilitation of small-scale irrigation facilities in selected ARCs.

Media Contact

Mohamad Al-Arief

(202) 458-5964

malarief@worldbank.org 

For more information on this project visit: 

http://web.worldbank.org/external/projects/main?pagePK=64283627&piPK=73230&theSitePK=40941&menuPK=228424&Projectid=P112031