WB approves 232 mln USD loan for Philippines

14/05/2008 -- 6:30 PM

Hanoi (VNA) - The World Bank (WB) said on May 14 it had approved a 232 million USD loan for a road project in the Philippines with attached safeguard measures to avoid repeated bid-rigging that halted its implementation six months ago. The loan will be used to build and improve 450 kilometres of existing road, a WB statement said the same day. The bank's Philippine Director, Bert Hofman, said the safeguards include an independent procurement evaluation, stronger internal controls at the Philippine Public Works Department, and for the first time, an oversight by civil society groups to ensure transparency, according to the Philippines Star newspaper. The measures will ensure that both government and WB money is used properly, he added. –Enditem
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