Home / Knowledge / News / World Bank approves IDA credit to finance 7th PRSC7
World Bank approves IDA credit to finance 7th PRSC7
07
May '08
The World Bank Board of Executive Directors approved an International Development Association (IDA) credit of US$200 million to finance the seventh Poverty Reduction Support Operation (PRSC7) over financial years 2007/08 and 2008/09.

PRSC7 is the third and final annual budget support operation that supports Uganda's third Poverty Eradication Action Plan (PEAP), which covers the period 2005 to 2008. PRSC7 was developed jointly with the Government of Uganda in close cooperation with other development partners, including the African Development Bank, Germany, Ireland, the Netherlands, Norway, Sweden, and the United Kingdom.

“The number of Ugandan households living in poverty has fallen significantly from 38 per cent in 2002 to 31.5 per cent today, which can be attributed to the steady progress in implementing the PEAP as well as the recovery of the prices of Uganda's key exports. We expect PRSC7 to support the Government in delivering better services on the ground and creating a better environment for growth and further poverty reduction.

This operation is, therefore, focusing on improving the capacity of the public sector to deliver services, building public infrastructure assets, improving accountability, and facilitating the growth of the private sector through better prioritization and stronger focus on results,” explained Young Chul Kim, Senior Country Economist for Uganda and Task Team Leader for the Operation.

The PRSC7 will support four of the five pillars of the third PEAP, and can be grouped broadly into four areas: reforms to enhance productivity and competitiveness (investment climate and rural development); effective delivery of social services (health, education, water sector programs, and decentralization); public sector management (budget execution, public financial management, procurement, and anti-corruption); and gender, infant and maternal mortality, and population growth.

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Textiles | On 5th Dec 2016

Pakistan’s 2016-17 cotton output surpasses last season

Cotton output in Pakistan during 2016-17 season has already surpassed ...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search