Guyana - Second Sea Defense Project

RESTRICTED FILE Cor X Report No. P-959 This report is for official use only by the Bank Group and specifically authorizcd organizations or persons. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO GUYANA FOR A SECOND SEA DEFENSE PROJECT June 2, 1971  CURRENCY Guyanese Dollars (GS) US$l G=G2 G.l = us$o.50 Gpl, 3003,030 = US$50,000 WEIGHTS AT.)D 1MEASURES (British System) 1 inch (in) = 25.4 millimeters (mm) 12 in = 1 foot (ft) 5,2630 ft =1 mile (mi) = 1.609 kilometer (km) 1 acre (ac) = 43,560 sq ft = 0.405 hectares (ha) 1 sq mile 64h0 ac = 2.590 sq km 258.99 ha 1 long ton (ton) = 2,240 pounds (lb) = 1.016 metric tons (m ton)  T1E-;W'rUri0hkL BANE N:' RECONSTRU6U2'i'&I AD _ - OXPNENT REPORT AND RECOIE"INDATION OF THE PRYESIDET TO THTP EXCCUTIVE DIRECTORS ON A PROPOSED LOAN TO GULY'NA FOR SECOND SEA DETFENSE PROJECT 1. I submit the following report and recommendation on a proposed loan in an amount in various currencies equivalent to $5.4 million to the Government of Guyana. The loan would finance the foreign exchange component of a sea defense project designed to protect Georgetown, the capital of Guyana, and of ancillary expenses related to sea defenses in Guyana which have been financed under a previous Bank loan. The loan would be repayable over 25 years, including a 5-year grace period, with interest at 7