WASHINGTON, May 24, 2007 - The following project was approved today by the World Bank’s Board of Executive Directors:
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IDA CREDIT: US$8 million
TERMS: Grace Period = 10 years; Maturity = 40 years.
PROJECT DESCRIPTION: The additional financing for the Social Investment Program Project, which was approved by the World Bank on March 18, 2003, will continue to support development of sustainable and effective institutional arrangements at the local level, through which communities are empowered to address their own basic needs. As of March 15, 2007, the project has reached 950 villages, or roughly two million people, through 1,400 community sub-projects.
For more information, please call Erik Nora at (202) 458 4735 or email enora@worldbank.org
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