Announcement of IDA to Continue Technical Assistance to Mauritania for Managing Economy on September 23, 1982

' . • '! FOR IMMEDIATE RELEASE •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 83/14 Contact: Pamela Brennan September 23, 1982 (202) 477-5344 IDA TO CONTINUE TECHNICAL ASSISTANCE TO MAURITANIA FOR MANAGING ECONOMY Ma.hritania 's continuing need for technical assistance in managing its economy and carrying out investment programs will be supported by a credit of SDR 4.1 million ($4.6 million). The World Bank's affiliate for concessional lending has previously committed $2.7 million to carry out a first technical assistance project. /i ff The second projE1ct will provide con~ulting services to the Ministry of Planning for formulating and monitoring macroeconomic policy and reviewing and implementing a Fourth Five-Year National Investment Plan (1981-85). It will also support the technical ministries in improving their planning capacity and in identifying and preparing development projects. It will continue to study possible • rehabilitation of 20 important public enterprises such as those responsible for public utilities and transportation • An important part of the project is the'- training of Matfritanian professional staff of the Ministry of Planning. The project will provide for 16 staff-years of services by expatriate resident advisers, 58 staff-yea.rs of services by local professional staff, and about 110 months of short-term consulting services. Major benefits to be expected are the continuation of improvements in financial and economic management and training of Mauritanian personnel. The IDA credit is for 50 years, including 10 years of grace; it carries no interest, but bears a small annual service charge of 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.