World Bank – The World Bank approved today Cape Verde’s Fifth Poverty Reduction Support Credit (PRSC-V), a US$15 million IDA credit aimed to support the Government in its efforts to develop policies and institutions aimed at developing a dynamic private sector to be the engine of sustainable growth and poverty reduction, reinforcing the competitive advantage of the country’s service sector. 

“This operation is the fruit of the strong partnership between Cape Verde and the Bank, and is representative of the Bank’s firm commitment to support the Government’s efforts to promote growth and poverty reduction, especially in the context of the challenges presented by the global crisis,” said Habib Fetini, Country Director for Cape Verde.

Read more – http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:22422333~menuPK:258658~pagePK:2865106~piPK:2865128~theSitePK:258644,00.html

World Bank – The World Bank’s Board of Directors today approved a grant in the amount of SDR 16 million (US$25 million equivalent) to the Republic of Burundi to help finance a Third Economic Reform Support Grant (ERSG III).

ERSG III is the second grant in a programmatic series of two annual operations designed to assist the Government of Burundi in implementing policies and institutional reforms to promote growth and achieve sustainable reductions in poverty. It proposes to continue to support efforts aimed at reforming public finance management and improving fiscal transparency and accountability. It will also help support reforms in the business legal and institutional environment in order to foster private sector-led growth, as well as reforms in the coffee and domestic petroleum sectors.

Read more – http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22372150~pagePK:64257043~piPK:437376~theSitePK:4607,00.html