Announcement of Turkey Treasury Data Systems Project on June 1, 1992

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 92/85 Contact: Fawzi Rihane Tel: (202) 473-2675 TURKEY: TREASURY DATA SYSTEMS PROJECT The following is information on a project approved by the World Bank's Board. DATE: June 1, 1992 WORLD BANK GROUP SUPPORT: World Bank loan: $9.2 million. The World Bank loan is for 17 years, including five years of grace, with a variable interest rate, currently 7.73 percent, linked to the cost of the Bank's borrowings. It also carries an annual commitment charge of 0.25 percent on the undisbursed balance. TOTAL COST: $28.1 million OTHER FINANCING: Government of Turkey, $18.9 million IMPLEMENTING AGENCY: General Directorate of Economic Research and Assessment (GDERA) ESTIMATED COMPLETION DATE: 1998 PROJECT DESCRIPTION: The objectives of the Treasury Data Systems Project are to: (a) improve Treasury's monitoring and policy design functions through the introduction of data analysis productivity tools; (b) provide timely and efficient access for Treasury staff to a consistent, centralized data source; (c) enable Treasury to contribute to, and draw on, databanks of multilateral institutions and other agencies; (d) ensure that organizational structures and procedures support and drive efficient data processing and analysis; and (e) support the development of a complementary institutional framework for investment in human capital. The project will also improve the availability and reliability of the economic data that Treasury provides to other agencies, the private sector, and multilateral organizations. The project includes: (a) a data management system to establish an appropriate technology environment for macroeconomic data analysis and contain centralized databases to support this work program; and (b) institution building initiatives, including: training in selected economic, financial, statistical, and technical subjects; consulting assistance for special studies and economic model building; management and training support to GDERA; and information dissemination support to re-establish Treasury's library facilities and to establish an economic information center within Treasury, open to the public.