Sierra Leone: Second Governance Reform and Growth Credit

WASHINGTON, October 7, 2008- The following project was approved today by the World Bank’s Board of Executive Directors:

IDA Credit: US$10 million

TERMS: Maturity= 40 years; Grace = 10 years

Project Description: The project aims to support the government of Sierra Leone’s efforts to: (i)preserve the fiscal space needed for poverty reduction; (ii) promote efficiency, transparency and accountability in the use o f public resources through enhanced public financial management and governance; and (iii) improve the investment climate and promote exports. The operation complements similar support provided in these areas by the AfDB, DfID and the EC.

Media Contact:

Rachel McColgan-Arnold at (202) 458-5299

rmccolgan@worldbank.org