| WASHINGTON, June 20, 2003—The following project was approved yesterday by the World Bank’s Board:
CREDIT AMOUNT: IDA—US$25 million
TERMS: Grace period = 10 years; Maturity = 25 years
LOAN AMOUNT: IBRD—US$35 million
TERMS: Grace period = 5 years; Maturity = 20 years
PROJECT DESCRIPTION: The main objectives of the Drainage, Irrigation and Wetlands Improvement Phase-I Project (DIWIP-I) are to increase productivity of irrigated agriculture, employment and incomes in Karakalpakstan, one of the poorest regions in Central Asia; improve the water quality of the Amu Darya river by the safe disposal of the drainage effluent, and enhance the quality of wetlands in the Amu Darya delta; and develop institutions for improving water management, operation and maintenance of the irrigation and drainage systems, and for promoting sustainable irrigated agriculture through participatory irrigation management. For more information, please call Miriam van Dyck at (202) 458-2931, e-mail mvandyck@worldbank.org
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