Announcement of IDA Supports Industrial Sector Development in Mali on May 23, 1980

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. 80/81 McJY 23, 1980 IDA SUPPORTS INDUSTRIAL SECTOR DEVELOPMENT IN MALI Mali's ability to undertake industrial development wi 11 be improved with the assistance of an $8 million credit from the International Development Association (IDA). Of the credit amount, $5.2 million will support the Malian • private industrial and traditional sectors, including a line of credit of $3.5 million to the Central Bank and $1 .7 million ear- marked for a comprehensive technical assistance and institution building program. The credit amount also covers $400,000 already used for project preparation. A sum of $2.4 million will assist the rehabilitation and expansion of Union Laitiere de Bamako, the country's sole producer of pasteurized milk products. The IDA credit is for 50 years, including 10 years of grace. It carries no interest but bears a service charge of 3/4 of 1 per- cent a year to cover administrative costs . • NOTE: Money figures are expressed in U.S. dollar equivalents.