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Solomon Islands: Rapid Employment Project

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Washington DC, May 18, 2010—The World Bank's Board of Executive Directors today approved the following project.

IBRD Loan: US$3.2 million equivalent
Terms: Maturity = 30 years; Grace = 10 years
Project ID: P114987

Project Description: The objective of the project is to assist targeted vulnerable urban populations to increase their incomes through the provision of short-term employment and improve their knowledge, experience and basic employment skills that are valued in the workplace and society. The funding will help finance a rapid and targeted labor-based public works project for vulnerable populations in and around the capital city of Honiara. The support will serve to mitigate the impact of Solomon Islands Government austerity measures on the possible re-emergence of social unrest and instability by increasing employment opportunities for marginal groups (particularly youth and women) and improving access to key services in poorer communities where violence had been previously focused.