Announcement of IDA Lends Six Million Three Hundred Thousand Dollars for Technical Assistance in Senegal on January 23, 1978

' ' . FOR IMMEDIATE RE~EASE • .ot' • • •World Bank 1818 H Street N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 I DA NEWS RELEASE NO. 7 8/ 3 4 January 23, 1978 IDA LENDS $6.3 MILLION FOR TECHNICAL ASSISTANCE IN SENEGAL A technical assistance project to strengthen government organizations overseeing the para-public sector in Senegal will be assisted with a credit of $6.3 million, the International Development Association (IDA), an affiliate of the World Bank, announced today. The project will support the Senegalese Government's efforts to improve its strategic analysis and operational supervision of the country's para-public sector, both for public enterprises and mixed companies in which the government has an interest. The para-public sector accounts for over 40% of value added in Senegal's modern economy. Through provision of more extensive and reliable data, the project will • allow better decisions to be made concerning the present and future operations of the para-public sector as a whole as well as of individual companies. It will also attempt to define the critical problems and possible solutions, particularly in the financial management and accounting, for a number of key companies in the para-public sector. The $6.3 mill ion IDA credit to Senegal is for a term of 50 years, including a grace period of 10 years. It carries no interest but has a service charge of 3/4 of 1% per annum . • NOTE: Money figures are expressed in U.S. dollar equivalents.