Membership
Username
Password
Business Opportunity
An outstanding China opportunity

Members will be notified by email immediately of any Chinese industry specific updates, either government or business, that potentially affect either directly or indirectly, their business operations in China

World Bank approves 12 million dollar grant for DR Congo
2007/12/19 11:06 (Beijing - China)
Source:

    The World Bank on Tuesday approved the second additional financing grant of 12 million dollars from the International Development Association (IDA) for the ongoing Emergency Multi-sector Rehabilitation and Reconstruction Project (EMRRP) in the Democratic Republic of Congo(DRC).

    A first additional grant, approved in November 2005, filled the125 million dollar shortfall in IDA funding resulting from the initial IDA allocation to the project, said a statement released by the World Bank.

    The additional grant approved Tuesday by the bank will help cover cost overruns that have occurred during implementation in electricity sector and project execution contracts. It will help meet immediate, short-term needs for repairs and thereby improve power service delivery.

    The grant would hence support the urgent rehabilitation of key electricity sector infrastructure, as well as fund project execution and supervision across the infrastructure component of the EMRRP to ensure that activities are completed by the Project closing date, said the World Bank.

    "This new support to the electricity sector is really important. It will improve the quality of one of the crucial priorities of the Congolese population," said Abdelmoula Ghzala, the World Bank's Task Team leader for the project.


Privacy Policy | Terms and Conditions © Copyright iSino 2006. All rights reserved.