Yesterday the World Bank directors approved support of a Marine and Coastal Environmental Management project in Tanzania.
" The overall project cost is US$61 million, including a US$51 million credit* from the International Development Association (IDA) and a US$10 million grant from the Global Environment Facility " Link
While that's good news its not wholly a grant :
" The credit is provided on standard International Development Association (IDA) terms, with a commitment fee of 0.35 percent, a service charge of 0.75 percent over a 40 year period of maturity which includes a 10-year grace period. " Link
I don't understand much about the World Banks activities or the financial constraints that deals like these impose, but the stated goals of improving sustainable management and reducing environmental threat certainly sound like something positive for a change.
Image Courtesy of Dutch photographer Felix Faassen
Currently Listening to : Again from You All Look The Same To Me by Archive
11:40:50 PM 
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