The World Bank’s Board of Directors has approved a 15 million US dollar loan for Belize to improve service delivery in several municipalities. These projects include Municipal Infrastructure Investment and Technical Assistance and Capacity Building. According to a government release the project is part of the World Bank’s Interim Strategy Note for Belize which outlines the Bank’s assistance until June, 2011 and supports the country’s strategy to spur economic growth and reduce poverty. The program provides analytical and advisory services to assist the Government in the design and implementation of current policy initiatives as well as investment lending. According to the release Prime Minister Dean Barrow welcomed the news and said that this is a clear indication of the reengagement of the Bank with Belize and exemplifies the Bank’s commitment to the development priorities and platform to the people of Belize. This fixed spread loan from the International Bank for reconstruction and Development had a total term of 25 years including a five year grace period.