WASHINGTON, June 16, 2005 - The following project was approved today by the World Bank's Board of Executive Directors:
IDA CREDIT AMOUNT: US$3.2 million
TERMS: Grace period = 10 years; Maturity = 40 years
PROJECT DESCRIPTION: This supplemental urban water supply credit will allow the Government of Sierra Leone to settle the legitimate claims of foreign and local contractors, without jeopardizing the implementation of the Poverty Reduction Strategy. The credit will retain the same objectives as the original project whose aim is to improve water supply and sanitation services in Freetown and ensure that water supply and sanitation services are sustained. For more information, please call Aby Toure at (202) 473-8302 or email: akonate@worldbank.org
Urban Water Supply - Supplemental
This supplemental credit will provide financing to settle outstanding payments due to foreign and local contractors, under projects financed by the International Development Association (IDA). At project restructuring, uncertainties remained on the completion of the contracts signed before the war, which along with other factors, created a funding gap for the project. Therefore, the supplemental credit will provide additional resources allowing the Government of Sierra Leone settle the legitimate claims of foreign and local contractors, without jeopardizing the implementation of the Poverty Reduction Strategy. All contractors' claims have been duly reviewed, and, the Region's procurement staff visited the country to monitor such review, found satisfactory. The staff is also satisfied with current investigations regarding the mis-procurement of goods under the original credit, which is not connected to any contract, or contractors covered by the supplemental credit. Such settlement of arrears will help the Guma Valley Water Company (GVWC) improve its financial viability, and contribute to overall, the external creditworthiness of the country.**
Last Updated June 16 2005
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Basic Information
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Project Status
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Pipeline
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Region
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Africa
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Country/Area
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Sierra Leone
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Major Sector (Sector)
(%)
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Water, sanitation and
flood protection (Water supply) (100%)
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Old Major Sector
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N/A
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Old Sector
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N/A
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Env Category
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C
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Project ID
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P094848
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Bank Team Lead (Last Name,
First)
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Verspyck, Richard
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Approval Date
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N/A
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Closing Date
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N/A
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Borrower
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GOVERNMENT OF SIERRA LEONE
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Implementing Agency
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GUMA VALLEY WATER CO.
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Financial
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Main Loan/Credit #
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N/A
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IBRD Commitment *
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IDA Commitment *
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3.2
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IBRD + IDA Commitment
*
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3.2
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Grant Amount *
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Total Project Cost *
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3.2
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Product Line
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IBRD/IDA
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Lending Instrument
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Specific Investment Loan
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Development Outcomes
And Goals
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Targeted Thematic Outcomes...
| Supporting this Broader Dev't Goal |
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Infrastructure services
for private sector development
| N/A (CAP) |
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Access to urban services
and housing
| N/A (CAP) |
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Pollution management and
environmental health
| Environmental commons (GPG); Ensure environmental sustainability (MDG) |
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Water resource management
| Environmental commons (GPG); Ensure environmental sustainability (MDG) |
*Commitment at Board in USD$ millions. Does not reflect any cancellations. Pipeline and dropped projects display the forecast amount. Total project cost includes non-Bank funding.
** The project summary is drawn from the PAD, SAR, or PGD abstract and may not accurately reflect the project's current nature.
*** Project documents are posted to this website as soon as they reach certain milestones (more info.). For example, Project Appraisal Documents are processed and made available through this website a few days after Board approval. If you find that a report which should be here is unavailable, contact Infoshop .