Emergency credit sought

The Burundian government is hoping to obtain a US $35 million emergency credit from the World Bank to support the country's economic recovery, a statement from the Embassy of Burundi in South Africa said. The credit would be used to inject hard currency into the Burundian economy with a view to funding the import of goods and services required for the resumption of many economic activities. It would also improve basic social
services and provide balance-of-payment support. The US $35 million would be sold by auction to the private sector, and the Burundian francs generated from the sales would then be used to support government projects in the fields of health, education, agriculture, good governance and the reintegration of displaced persons and refugees, the statement said.

A World Bank official on Thursday confirmed the credit plan and said the proposal would go before the Bank's board of directors on 25 April for approval. "This credit project is part and parcel of the international community's effort to ensure that the peace and reconciliation process moves forward and to avert a total collapse of the economy that would create more problems in the future," the official told IRIN. He said the credit programme would be "tightly monitored" to ensure proper use of the funds, given current circumstances in Burundi.