Announcement of First IDA Credit for Djibouti to be Used for Technical Assistance on April 22, 1982

r f . • • • . _: f'<Jf( l,\1f\:~.f:DIA. l I RH I·.ASl. ' . t · ,. !•World Bank F 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 IDA NEWS RELEASE NO. 82/58 Contact: Pushpa Schwartz Apr i 1 22 , 1982 (202) 477-5306 FIRST IDA CREDIT FOR DJIBOUTI TO BE USED FOR TECHNICAL ASSISTANCE Djibouti will receive an SOR 2.6 million ($3 million) credit from the Inter- national Development Association (IDA) to improve the government's capacity to formulate and carry out its development strategy. IDA is the World Bank's affiliate for conces- sionary lending. The Republic, which joined the World Bank and IDA in October 1980, will use the credit for a $4.98 million technical assistance project 7 the first IDA-supported operation in the country. Co-financing of $1.46 million is to be provided by the United Nations Development Programme. The Planning Directorate, the main coordinating agen~y for development in Djibouti, will be strengthened by the services of a macro-economist and a financial analyst. They will improve Djibouti's capacity to prepare and to analyze development projects, and also assist the directorate in the preparation and implementation of a • development plan. The-project will also provide a docum1~ntalist, supplied by U.N·~ Volunteers, who will build up a library of studies relev.ant to economic management and development in Djibouti. The Planning Directorate is to be supported by a fund which can be used to finance studies to provide information needed in drawing up a development strategy, as well as feasibility and other studies for specific projects. The project will also make available to the Statistics Directorate a statistician and two U.N. Volunteer statistical assistants to strengthen its capacity to undertake economic surveys and to publish statistics on the economy. A training program in project pre~~ration, evaluation, and management, as we11 as in statistics and planning, will be set up. The program wi11 in~1ude seminars, with curriculum deye1oped with the assistance of the World Bank's Economic Development Institute, study tours, and scholarships, plus on-the-job training for staff of the directorates concerned. The IDA credit is for 50 years, including 10 years of grace; it carries no interest but bears an annual service charge of 3/4 of 1% for administrative costs. The address of the Planning Directorate is: Direction de la Planification, Presidence de la R~publique, Bofte Postale 6, Djibouti, Rep. de Djibouti. 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 equiva- lent of the SOR amount of the IDA credit reflects the exchange rates existing at the time of negotiation of the credit. b