IDA Credit: US$20 million equivalent
Terms: Maturity = 40 years; Grace = 10 years
IDA Grant: US$5 million equivalent
Project ID: P112817
Project Description: The Second Poverty Reduction Support Credit and Grant Program (PRSC-2) for Lesotho is the second in a series of three annual development policy operations (DPO), envisaged in the FY 2006-09 Country Assistance Strategy (CAS). The operation will support the Government of Lesotho's development program that underpins its Interim National Development Framework (INDF) and the growth strategy. The operation amount is US$25 million equivalent. The operation comes at a time when the Government of Lesotho has to cope with the adverse impact of the global recession while retaining focus on longer-term reforms to achieve faster growth, address the HIV/AIDS pandemic, to tackle significant human development challenges in health and education, and to improve public financial management.