Announcement of IDA Approves First Credit for Water Supply in Niger on December 16, 1982

FOR IMMEDIATE RELEASE .worldBank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 83/ 30 Contact: Pam Brennan December lfr, 1982 ( 202) 477-5344 IDA APPROVES FIRST CREDIT FOR WATER SUPPLY IN NIGER Niger's efforts to improve the country's water supply agencies will be assisted with a credit of SOR 6.1 million ($6.5 million), the International Development Association (IDA) announced today. The IDA credit is the first for improving water supply in Niger. Much of the credit from the World Bank's affiliate for concessionary lending will support the provision of technical assistance to the agencies involved in the country's water sector. They are: the Ministry of Hydraulics, Societe Nigerienne d 'Electrici te (NIBELEC), and Office des Eaux du Sous-Sol (OFEDES}. The project, the total cost of which is $8.2 million, will also finance feasibility studies .to restructure sector entities and to advise on the • establishment of manpower requirements; the development and implementation of financial and cost accounting systems for OFEDES; training and a small package of urgent works, equipment, and mate rials. The project was prepared wi.th funding from the World Bank's Project Preparation Facility,which makes advances primarily to the less developed countries. The United Nations Development Programme is contributing a grant of $1.05 million. The IDA credit is for 50 years, including 10 years of grace; it carries no interest but bears a small annual service charge (0.5% on the undisbursed balances of the credit and 0.75% on the disbursed balances). NOTE: IDA credits are denominated in SDRs (Special Drawing Rights), which are valued on the basis of a "basket'' of currencies. The U.S. dollar equivalent of the SDR amount of the IDA credit reflects the exchange rates existing at the time of negotiation of the credit • •