ADB APPROVES 10.24 MILLION DOLLAR LOAN FOR KIRIBATI

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MANILA, Philippine (December 8, 1998 - Agence France Presse)---The Asian Development Bank (ADB) Tuesday approved a 10.24 million dollar loan for a water supply and sewage project in the South Pacific island-nation of Kiribati.

The project aims to improve the quality and supply of safe drinking water, as well as rehabilitate and expand sewerage and sanitation systems, the Manila-based bank said in a statement.

The loan, from the Asian Development Fund, is interest-free and is payable in 40 years, including a 10-year grace period.

Also on Tuesday, the ADB approved a loan of 6.5 million dollars for a project to allow Papua New Guinea to have a bigger role in the management of its tuna industry, now dominated by foreigners.

Michael J Field Agence France-Presse Auckland, New Zealand TEL: (64 21) 688-438 FAX: (64 21) 694-035 E-Mail: afp.nz@clear.net.nz WWW: http://www.afp.com/english/

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