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International Monetary Fund

Digicel, encouraging this new private operator to enter the liberalized Samoan telecoms market. This has been a crucial element in the successes achieved in improving connectivity in Samoa. IFC investments have encouraged over US$80 million in total private investment in the telecoms sector, making this the largest single private investment in Samoa. Samoa: IDA Lending Operations (as of November, 2009) Year of Approval Original Amount Undisbursed Balance (In millions of U.S. dollar equivalent) Completed projects (IDA

International Monetary Fund

Guarantee Agency (MIGA) has provided one guarantee in PNG. The guarantee worth US$76.6 million in gross exposure covers a portion of equity investment and a loan by a syndicate of commercial lending institutions for the Lihir open-pit gold mine. The guarantee facilitated several hundred million US$ in foreign investment in PNG. Papua New Guinea: IBRD/IDA Lending Operations (In millions of U.S. dollars) Fiscal Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 * Commitments 132.3 0 57.3 0 0 0 0 37

International Monetary Fund
This 2010 Article IV Consultation highlights that real activity in Papua New Guinea was relatively unaffected by the global downturn, with growth easing to roughly 5 percent in 2009 from 7 percent in 2008. A number of factors contributed to this favorable outcome. The country’s financial sector was insulated from the turmoil in global capital markets and domestic credit continued to grow, albeit at a slower pace than in the preceding few years. Export demand also held up, as stimulus measures in other Asian countries supported demand for commodities, the country’s main export.
International Monetary Fund
Papua New Guinea’s economic performance has strengthened since the last Article IV Consultation. The country has significant underlying vulnerabilities. The economy is exposed to commodity price shocks, and mineral production is expected to decline over the medium to longer term. However, macroeconomic vulnerabilities have intensified, in particular, the potential for higher unproductive fiscal spending to raise demand pressures and spur inflation. Prudent fiscal policies are welcomed. Implementation of the multi-donor technical assistance plan is encouraged. The authorities are encouraged to accelerate the structural reforms and improve infrastructure.
International Monetary Fund

—an example of South-South investment. Requests for MIGA’s guarantees with Egypt as a host country are relatively limited for now, since many bilateral agencies provide comparable services. Bank Group Activities As of March 1, 2010 (In millions of U.S. dollars) TOTAL IBRD/IDA Lending Operations Disbursed 1 8254.1 Undisbursed 2054.6 Number of closed loans/credits = 107 Number of ongoing loans/credits = 16 Operations Portfolio--Sectoral distribution (less cancellations

International Monetary Fund

. The Bank will continue to work closely together with the Fund in these areas. 4. The IFC does not have any activity in Comoros, and the country has not yet joined the MIGA. The Government of Comoros has recently requested technical advice from the IFC with respect to the envisaged privatization of the oil and telecom companies. Active Portfolio in Comoros—IDA Lending Operations As of September 30, 2005 (In billions of U.S. dollars) Purpose Approved Committed Disbursed (Fiscal year) (Less cancellations) Number of

International Monetary Fund. External Relations Dept.

Bank/IDA lending reaches record $4,313.6 million in FY 1974 In the fiscal year ended on June 30, 1974, World Bank and International Development Association (IDA) lending operations reached a record total of $4,313.6 million-about $900 million more than the previous high total achieved in fiscal 1973. The increase was a result of expanded Bank lending—up more than $1,000 million from 1973-which totaled $3,218.4 million. IDA credits dropped $250 million to $1,095.2 million. (By June 30, 1974, IDA had committed virtually all funds available to it, including

International Monetary Fund

, the finance sector, agricultural production, cyclone reconstruction, and health sector reform. Samoa has an IDA-15 (FY09–FY11) allocation of $40 million. Samoa’s IDA-15 allocation was more than doubled to respond to the devastating tsunami that occurred on September 29, 2009. Samoa: IDA Lending Operations (as of March, 2010) Year of Approval Original Undisbursed Amount Balance (In millions of U.S. dollar equivalent) Completed projects (IDA) First highway 1975 4.4 0 Agricultural