IBRD LOAN: US$30 million
TERMS: Grace period = 5 years; Maturity = 15 years
PROJECT DESCRIPTION: The First Trade and Competitiveness Development Policy Loan is the first of three development policy loans. It will finance 10 percent of the current year’s budget deficit and help diversify the country’s debt portfolio, stabilize the economy, raise competitiveness and growth prospects, and broaden participation.
