IBRD Loan: US$4 million equivalent
Terms: Maturity = 30 years; Grace = 5 years
IDA Credit: US$8 million equivalent
Terms: Maturity = 35 years; Grace = 10 years
Project ID: P117016
Project Description: The objectives of the Economic and Social Development Policy Loan and Credit Program are to: a) improve the business environment, competitiveness, and strengthen the financial sector, by supporting reforms to reduce delays in starting a business, buttress financial sector regulatory environment, mitigate regional contagion risks, and promote investment; and b) improve public sector governance and economic management, by supporting reforms to improve public service efficiency and performance, increase the efficiency of tax collection, enhance fiscal discipline and strategic allocation of resources, strengthen accountability, and help cope with the adverse consequences of the global economic downtur.