IBRD LOAN: US$104.8 million
TERMS: fixed-spread loan with 13-year maturity and 9-year grace period.
PROJECT DESCRIPTION: The US$104.8 million in additional financing for the Social Safety Net Project will help expand the successful Familias en Acción conditional cash transfer program to poor families. The program disburses cash transfers (grants) to poor families linked to compliance with key human development conditionalities, such as school attendance and health check-ups. The additional financing will enable the program to expand the current number of beneficiaries (nearly 600,000) to about 1 million. The original Social Safety Net Project was supported by a US$86.4 million World Bank loan approved in November 1, 2005. To date, the program has increased school attendance rates by 7 percentage points in rural areas and 5 percentage points in urban areas.