WASHINGTON, November 18, 2003—The following project was approved today by the World Bank’s Board:
CREDIT AMOUNT: IDA-US$70 million
TERMS: Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: The proposed program of financial assistance from the World Bank to Nepal would be anchored each year in further Poverty Reduction Support Credits akin to the US$70 million package approved today, and designed to support implementation of Nepal’s own Poverty Reduction Strategy as part of a new Country Assistance Strategy for the country. In addition, this assistance would be complemented by an average of three investment or sectoral operations each year to support key programs in areas such as education, health, financial sector reform and infrastructure. This lending would be accompanied by a strong analytical program, with a particular focus on helping the Government of Nepal to prioritize future policy reform areas. For more information please contact Zita Lichtenberg (202) 458-7953 or email zlichtenberg@worldbank.org
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