Announcement of Mauritania Receives IDA Credit for Highway Project on April 15, 1982

FOR IMMEDI TE RELEASE . World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 82/57 Contact: Pushpa Schwartz April 15, 1982 (202) 477-5306 MAURITANIA RECEIVES IDA CREDIT FOR HIGHWAY PROJECT Mauritania will carry out a fourth highway project with the support of a credit of SDR 3.4 million ($4 million), the International Development Association (IDA) announced today. IUA Is the World Bank's affiliate for concessionary lending. The Kuwait Fund for Arab Economic Development and the Arab Fund for Economic and Social Development are also contributing to the cost of the project, estimated at $14.3 million. The project includes the completion of road improvement works such as earth- works and drainage structures begun under a previous IDA-assisted project. It will also provide consultant services for a maintenance study, together with engineering studies for major highways, including the 450-kilometer Rosso-Akjoujt road and the 1,150-kilometer Nouakchott-Kiffa-Nema road. Equipment, materials, and personnel training for urgent maintenance works on the Nouakchott-Kiffa-Nema road will also be provided. The various studies will enable the Mauritanian government to determine and formulate a rational road maintenance policy and prepare a follow-up project. The credit brings IDA funding for highway development in Mauritania to a total of $16.7 million. The IDA credit is for 50 years, including 10 years of grace, with no interest. It carries a service charge of 3/4 of 1% a year to cover administrative costs. The project will be carried out by the Public Works Department, Ministry of Equipment, Transport and Telecommunications, Nouakchott, Mauritania. 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.