-0 ~~~CIRCULATING COPY [w F , L tTQ OE RETURNED TO REPORTS D$IS DOCUMENT OF INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Not For Public Use Report No. P-1341-PH REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE REPUBLIC OF THE PHILIPPINES FOR A SECOND HIGHWAY PROJECT November 20, 1973 . This report was prepared for official use only by.the Bank Group. It may not be pubiished, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report. CURREINCY E'UIVALENTS US $1.00 Pesos 6.78 Pesos 1,000 US $1h7.49 Pesos 1 million US $147,493 FISCAL YEAR In the Philippines the Fiscal Year covers the period July 1 to June 30. REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE REPUBLIC OF THE PHILIPPINES FOR A SECOND HIGHWAYS PROJECT 1. I submit the following report and recommendation on a proposed loan to the Republic of the Philippines for the equivalent of $68.0 million. The loan would be for a term of 24 years including a four year grace period with interes: of 7.25 percent per annum to help finance a project fot the improvement of highways. PART I - THE ECONOMY 2. A report entitled "Current Economic Position and Prospects of the Philippines"' (78-PH dated April 20, 1973) was circulated to the Executive Directors on May 2, 1973 (R73-85). Since the previous economic report in May 1972, the Philippines has suffered one of the worst floods of the century in the Central Luzon area, President Marcos has imposed martial law, and a new constitution, establishing a parliamentary system of govern- ment, has been promulgated. The President has announced that martial law will continue under the new constitution and that elections for a national assembly will be postponed for six or seven years. The President is under- taking social and economic reforms and has announced that implementation of an agrarian reform program is a high priority in the Philippine development program for the immediate future. This would involve transferring title to about a million tenants in rice anc corn areas over the next five years as well as improving supporting services for them. In addition to decrees on agrarian reform, the President has promulgated decrees on tax reform and on a number of bills which had been awaiting Congressional approval, including the customs and tariff bill and the government reorganization bill. 3. In the past three years the authorities have pursued policies of monetary and fiscal restraint and have succeeded in improving substantially the maturity structure of the external public debt. In spite of this, during the period 1970-72, the performance of the Philippine economy had been somewhat disappointing, with real GNP increasing by about 5 percent a year. Expansion of the economy has been hampered by a combination of factors. First, a series of disruptions to agricultural output since 1970 that was capped by the severe f:loods in July 1972, has seriously retarded the growth of food production, irL particular rice. Second, there was a 30 percent deterioration in the external terms of trade during 1971 and 1972. Because of this decline, real gross national income per capita remained unchanged at about $20t) curing 1971 and 1972. Third, the economy has experienced a periodl of rapid inflation with consumer prices rising by more than 50 percent during the three years 1970-72 due to the combined effects of devaluation, imported inflation and shortfalls in domestic food production. These adverse trends have been especially serious for t:he wage earning group. There has been a 20 percent fall in real wages and a further rise in unemployment over the past three years. 4. The floods in july 1972, which caused extensive damage, made the economic situation in the Philippines more difficult. Public infrastructure, in particular roads, flood control dikes, irrigation works and schools, were damaged. Including production losses and damage to private property, the total cost of the flood damage was estimated at about $200 million. Because of t.ae extensive damage to the rice crop in 1972 and the recent world-wide rice shortage, the Philippines was not able to import sufficient rice for its needs. This led to a rice shortage and rationing was introduced. The rice import requirements for 1973/74 will depend on the main cro- which is now being harvested, but the amount could exceed 600,000 tons. 5. The administrative, fiscal and monetary reforms that the Marcos administration has begun to implement under martial law could lead to improved economic 'performance in the years ahead. There can be little question tha: thie Philippines has the resources - both physical and human - to achieve broadly based economic improvements, given the right policies and adequate support for development within the country and from outside. The main elements of the Government's development strategy include: (a) im- provement of agriculture and rural living conditions; (b) faster industrial and mineral development, including a large increase in manufactured exports; (c) a national investment pragram that complements the sector development programs by balancing the allocation of resources among agriculture, industry and infrastructure; (d) financial management to encourage exports, limit inflation and its aggravation of income maldistribution, and further improve the maturity pattern of external debt; and (e) increased government revenues and better public sector management. 6. Capital formation in the Philippines is quite high, and the problem will be to ensure that investment outlays are more effective in future. This would involve better use of industrial capacity than was achieved 'during the sixties. Sharply accelerated public development outlays will also be needed if bottlenecks in production are to be avoided and if the deterioriation in social services is to be reversed. Public investment spending in real terms increased dramatically in FY 1973, expenditures for flood rehabi'litation accounting for a large portion of the increase. The next four-year development plan (FY 1974-77) calls for an infrastructure program of almost 13 billion pesos, as compared with P 3.3 billion in FY 1968-72 when low tax revenues were a major constraint on public invest- ment. Outlays would thus rise from about 1.7 percent of GNP in FY 1968-72 to between 3 and 4 percent in Ff 1974-77. 7. Substantial additionaL taxation will be needed to finance the proposed pub:ic investment program. The tax reforms introduced since martial law have resulted in a substantial increase in revenue collections. But if the Government is to undertake its ambitious development program successfully, real revenues wou'ld have. to expand by about 8 percent a year during 1974-77, which in turn means that the Government's fiscal effort will have to be intensified fur:-her. 8. If the sectoral growth indicated evolves as planned, incomes, employment and the balance of payments should all improve. In the first -3- half of 1973 there have been some unexpectedly favorable developments in the Philippine's export earnings which suggest that the balance of payments both this year and next will be mnore comfortable than the economic report suggests. For the period 1973-77 as a whole, merchandise exports are still projected tc increase by about 50 percent. Provided rice imports can be reduced after FY 1973/74, imports of raw materials, intermediate goods and capital goods could be allowed to rise at a rate sufficient to provide for a 6 to 8 percent growth in GNF. 9. The economic report projects that the foreign capital inflow would need to be almost $3 billion during 1973-77. Of this about $2 billion would be provided by transfers, direct investment and private medium- and long- term loans. The remaining $1 billion would have to come from official development loans. During the period, total disbursements of project assistance could amount to $550 million. The balance of about $450 million would be needed in the form of quick disbursing commodity assistance. The recent and unexpected improvement in export earnings, if sustained through 1974, however, would reduce this required level of commodity assistance and allow it to be phased out faster than the report's estimate. This matter was discussed at the meeting of the Philippine Consultative Group in late May and it was agreed that the improvement in export earnings could be used to increase reserves, reduce the debt burden to more tolerable levels and support an appropriate level of imports for development purposes. It was accepted that some official commodity aid would still be needed. The members of the Conrsultative Group welcomed the economic and social reforms which had been announced in recent months and were particularly encouraged by the success of the program to raise Government revenues. In addition to continuing their commodity aid, members also indicated rising levels of commitments for development projects to support the Philippines' increased development program. 10. Provided that adequate levels of official aid for commodity imports and project assistance are forthcoming, and particularly if the recent improvement in export prices is maintained, management of the Philippines' external debt and debt servicing, while difficult, would not present serious problems. The debt service racio on public and private debt would improve from about 23 percent in 1972 to about 18 percent by 1977. Even with the expected official assistance program, total service payments would offset the inflow of medium- and long-term loan capital during 1973-77. Thus even with the proposed levels of foreign assistance there will be virtually no net transfer of resources to the Philippines in the next five years. however, a more tolerable debt service ratio combined with a better international reserve position, gives the Philippines more room for maneuver. 11. TiLe Philippines' development program will continue to require resources i:A excess of the foreign capital which will become available for financiig the import component of development projects. Part of these resources wtill be provicd.e from commodity assistance. In addition some financing of local currency expenditures will be justified especially for projects of econom.ic and social importance which need only limited amounts oi foreign axchange. - 4 - PART II - BANK GROUP OPERATIONS IN THE PHILIPPINES 12. The Philippines has received 19 Bank loans and two IDA credits totalling $308 million, net of cancellations. Half of the Bank Group's lending, about $156 million, has been for infrastructure projects in power, transportation, water supply and education. The remainder has been divided about equally between agriculture and industry. About $85 mil- lion of this has been for irrigarion, livestock, rice processing and rural credit and about $65 million for industry in three loans to the Private Development Corporation of the Philippines. A first highways loan to finance the construction of the 160 km Cotabato-Digos road in Mindanao was made in 1971. Although work was suspended in March 1973 because of disturbances in the Cotabato area, the contractor has resumed work from the Digos end, which is outside the area affected by the fighting. 13. Of total Bank/IDA lending for the Philippines of $308 million, four loans and two credits totalling $69.9 million were made since the beginning of 1972. Disbursements on four of these have just begun while the fifth and sixth are not yet effective. Of the remaining $238 million the undisbursed balance of October 31, 1973 was about $38 million, almost all of which was accounted for by five loans made since the beginning of 1969. Disbursements on two of these, both agricultural credit projects, are behind schedule due in part to the general economic slowdown in the Philippines following the February 1970 devaluation and the subsequent stabilization program. however, disbursements on these loans began to pick up last year. Annex II contains a summary statement of Bank loans, IDA credits and IFC investments as of October 31, 1973, and notes on the execution of on-going projects. 14. Future Bank/IDA lending will continue to concentrate on public infrastructure and agriculture. The Bank will also continue to help industry and provide more assistance for projects in the social sectors. The Government is giving high priority to rural development and agrarian reform. A recent Bank Agricultural Sector Study noted that expanding and improving irrigation was essential to support agrarian reform and to permit agricultural production and rural incomes to increase. The Upper Pampanga project at present under way, will make a vital contribution In the heavily tenanted areas of Central Luzon. Several additional irrigation projects are being prepared, the first of which will probably be ready for approval late in FY 1974. A rural development project is being prepared and should be ready for appraisal next year. Further loans are also likely to be made over the next two or three years for rural credit and livestock. 15. Bank/IDA infrastructure lencing will continue to emphasize transportation and power ',rojects. Further proiects for highways, ports, power and first projects for shipping and urbanization are being prepared for Bank financing. Ir. the social sec_-ors an IDA credit was signed in January 1973 for a seconc education project and a population project is being prepared. -5- 16. Bank Group lending to the Philippines could rise substantially above present levels provided that the economy is managed reasonably well and that the Philippines continues to improve its capacity to prepare and implement projects. The Bank Group's present share in total debt outstanding is about 8 percent, and its share in debt service is about 5.5 percent. If present trends continue, as expected, the Bank Group's share in total debt outstanding would rise to about 17 percent by 1978 while its share in debt service would be about 10 percent. 17. IFC has made commitments in the Philippines totalling $66.0 mil- lion for investments in nine companies in the fields of development banking, power, telecommunications, ceramic tiles, paper, petroleum products, nickel mining and refining, chemicals and synthetic fibers. Of these investments, as of October 31, 1973, $18.2 million have been sold, $0.4 million cancelled and $1.3 million repaid, leaving a net portfolio of $46.1 million. On the same date $17.9 million was undisbursed. Preliminary proposals have been received for an aluminum smelter and other projects in the pulp and paper, dinnerware, metal alloys and shipbuilding fields. PART III - THE TRANSPORT SECTOR 18. In the past, ports and shipping played a dominant role in the transport sector of the Philippines. They continue to provide an essential means of transport and communication among the islands of the archipelago and account for probably 40 percent of total freight traffic. In recent years, however, an expanding highway network has provided access to the interiors of the larger islands. Today road transport is dominant in the main islands of Luzon and Mindanao and accounts for nearly 60 percent of total freight traffic and over 80 percent of total passenger traffic. The relatively short inland distances have limited railways to a small fraction of total traffic. 19. Lack of funds, weak statistical data, poor planning and organiza- tion as well as natural obstacles have compounded the problems of providing the necessary transport infrastructure. The present inadequacies reflect the small proportion of national resources devoted to public investment in the past. Although transport investment absorbed one half of total public investment during the past decade, it represented barely 1 percent of GNP. The rate of investment in the sector has been insufficIent to meet the traffic growth of close to 10 percent a year. Further, the resources for maintenance have been poorly administered, and as a result existing transport facilities have deteriorated considerably. 20. Tax reforms introduced over the last year have increased notably the funds available for public infrastructure investment. The Government's large transport investment program for FY 1974-77, reflects the urgent need to make good the results of past neglect. It calls for expenditures over the four years of about $790 million, including $220 million from foreign sources, and represents about 43 percent of the total public infrastructure program or 1.4 percent of GNP. Of total transport investment, 73 percent is for highways, 10 percent for ports, 10 percent for railways and the remaining 7 percent for airports. Highway projects receiving foreign financial assistance are expected to absorb about 60 percent of the foreign exchange expenditures of the Government transport investment program. In addition to this project, these include the Japanese financed Pan-Philippine highway, the General Santos-Cotabato, the Iligan-Cagayan de Oro-Butuan and the Tarlac-Sta. Rosa roads financed by the ADB and the Digos-Cotabato road in Mindanao, financed by IBERD. 21. The transport investment program is ambitious, and it may be constrained by the Government's administrative capacity to execute it. However, tne recent sweeping government reorganization which covered agencies dealing with the transport sector should lead to improved per- formance compared with the past. Under the government reorganization responsibility for transport planning is shared between the National Economic and Development Authority (NEDA) and the Department of Public Works, Transportation and Communications (DPWTC). Within the DPWTC, two units are to be set up; a Board of Transportation which will set rates, schedules and regulations and grant routes, and a Bureau of Transportation, which will be the enforcement agency for all modes of transport except railways. Railways will remain under the Office of the President. 22. The total highway network consists of about 81 ,o0o km, of which about 18 percent (15,000 km) is paved, 52 percent (42,000 km) gravelled and 30 percent (24,000 km) unimproved roads. The road density is generally sufficient but most of the national paved roads are at present deteriorating owing to poor original design and construction, compounded by inadequate maintenance over the years. Some are damaged to the point where major repair or rehabilitation of pavements is needed. Inadequate maintenance has been caused principally by insufficient maintenance funds and poor utilization of road maintenance equipment. Overloading of trucks is a common practice and makes the roads deteriorate faster. The condition of the extensive network of gravel and earth roads (nati-onal, provincial and urban) is poor and only a small proportion of them are all-weather roads. In Luzon, the country's most densely populated area, the situation is seriously aggravated by recurring typhoons and floods. Especially damaging was the flood disaster in 1972. Although emergency repairs made roads passable again they still need to be brought up to proper standards. 23. The motor vehicle fleet grew from about 200,000 units in 1962 to about 500,000 units at the end of ,972, an average annual rate of growth of 9.6 percent, although the growth rate fell to about 4 percent between 1970-72 as a result of Government exchange and credit restrictions and the devaluation of the peso. Fuel consumption has growm at an average annual rate of 8.8 percent a year over the same period, although falling to 3.4 percent between 1970 and 1972. Eighty percent of all motor vehicles were registered in Luzon (of which half were in the Greater Manila area), 10 percent were in Mindanao and the remainder distributed over the other islands. Registration generally reflects traffic densities. There are about 78 inhabitants per vehicle throughout the country. This compares with 50 in Thailand and 206 in Korea. The growth of demand for road transport in recent years is difficult to estimate because of the lack of data, but the slowdown in the rate of growth of both the motor vehicle fleet and fuel consumption suggests that there has been a fall in the growth of demand for road transport compared with the 1962-70 period. It is expected tc increase again as the economy continues to recover from recent setbacks. 24. The responsibility for administering, constructing and maintaining national hig:hways is vested in the Bureau of Public Highways (BPH), which is a part of DPWTC. For highway construction and maintenance the country is divided into 11 regions, each headed by a regional director. These are again sub-divided into districts or cities, 133 in all, each headed by a district or city engineer. The mechanical services division of the BPH is responsible for maintenance and repair of equipment. It has its own regional organization and rents equipment to the regions and divisions. Both the highway and equipment maintenance divisions of BPH need to be further strengthened. 25. The Highway Special Fund (HSF), to which 90 percent of all road user revenues go, has been used in the past to finance improvement and construction of national roads, maintenance of all types of roads, and administrative expenses. During the period FY 1962-71 revenues from road users increased by only 9 percent a year and since FY 1966 have covered only between 50 and 70 percent of annual expenditures. The balance was met from general revenues. Beginning in FY 1974, the HSF will be used to finance only maintenance and minor improvements, while all construction will be financed from the general budget. The revenue of the HSF has been inadequate since FY 1966 because road user charges in the Philippines, In particular the gasoline tax, have been among the lowest in the world. However, the Government has recently increased all fuel oil taxes by substantial amounts and the taxes on gasolines, by about 75 percent. This should ensure a more adequate level of funds for maintenance and minor improvements, although a further increase may be needed in the future. PART IV - THE PROJECT 26. The proposed project is one of a number identified in the 1970 UNDP financed Philippine Transport Survey for which the Bank was executing agency. It is the third of a series of transport projects proposed for Bank financing and which include futire ports and highways projects and an inter- island shipping project. The project was prepared with the help of con- sultants financed by the JNDP with the Bank as Executing Agency. A Bank mission appraised the project in June 1973 and negotiations were held in Novembe: 1973. The leader of the Government's negotiating team was Ambassador Eduardo Z. Romualdez. The Appraisal Report (No. 258-PH) on the proposed project is being circula.ed separately to the Executive Directors. Annex III provides a loan and pro4ect summary. -8- Description of the Project 27. The proposed project would provide for the construction, improve- ment and rehabilitation of about 1,400 km of roads in the island of Luzon, thus assisting its economic development by reducing inland transport costs. The project consists of (i) construction of a 51 km expressway and 6 km of access roads from Burol to Angeles, north of Manila, (ii) reconstruction and improvement of nine national roads in Central Luzon, totalling about 640 km and (iii) rehabilitation of about 700 km of flood damaged minor roads leading to the nine national roads, and (iv) the provision and installation of weighbridges to enable the Government to enforce its axle load control laws more effectively. It includes consulting services for construction super- vision of all the above roads, feasibility studies and detailed engineering of 137 km of national roads included above and to be financed retroactively, detailed engineering for roads which may be included in future highway projects, continuation of the ongoing technical assistance program and assessment of the training requirements of the Bureau of Public Highways' (BPH) administrative and technical staff at various levels. It also includes the services of an expert to set up a project office to strengthen the capacity of the BPH to prepare and administer externally assisted highway projects. It includes consulting services for reconnaissance and feasibility studies of an addi- tional 1,800 km of national and contiguous minor roads, which the UNDP would finance. Project Execution 28. The Bureau of Public 'Jighways (BPH), in the Department of Public Works, Transportation and Communications (DPWTC), would execute the project. Supervision of construction would be carried out by consultants working with counterparts, except for two roads which would be supervised by the BPH with the assistance of foreign technical personnel. The establishment of a project office, the continued technical assistance program and the reorganization of the BPH would give it the capacity to execute this project. The staff training component of the project and the future improvement of statistical methods anu procedures for highway planning should help to improve the preparation of future projects. All road con- struction would be carried out by contractors. Cost of the Project 29. The estimated total cost of the project is $128.2 million with a foreign exchange component of $65.9 million (51 percent of total project costs). The proposed Bank loan would finance $65.0 million of the foreign exchange costs plust $3 million of local costs for the flood damaged minor roads. The UNDP would finance 30.9 million, and the Government the balance of $59.3 million. The estimates include a 10 percent al'lowance on all items for physical contingencies and an allowance for price increases in domestic and foreign prices for construc_ion of the expressway and nine national roads, estimated on the basis of an annual increase of 12 percent. The project is scheduled for completion by .nid-1977. -9- US$ million Items Financed with IBRD Participation Local Foreign Total (See Annex III for further details) Construction of Expressway (51 1am) 14.4 17.5 31.9 Reconstruction i improvement of nine National Roads (640 km) 20.5 24.8 45.3 Rehabilitation of Minor Roads (700 km) 5.0 2.0 7.0 Sub-Total 39.9 44.3 84.2 Consulting Services 6.8 9.1 15.9 Weighbridges 0.1 0.5 0.6 Contingencies 9.2 11.1 20.3 Total 56.0 65.0 121.0 Other Items 6.3 0.9 7.2 Total 62.3 65.9 128.2 Procurement 30. Civil works contracts for the expressway and the nine national roads, together with the contracts for the weighbridges would be awarded on the basis of international competitive bidding. The road construction and improvement works would be divided into 14 contracts. Some are suffi- ciently small to enable local contractors to bid on them. Contractors may also bid on a combination of works. The minor roads to be rehabilitated do not lend themselves to international competitive bidding because the works are scattered and small. These roads were proposed for inclusilon in the project as a result of the 1972 floods and constitute less than 6 percent of the total project cost. Contracts would be negotiated with contractors carrying out major project roadworks nearby, with a view to obtaining the lowest possible price. If contracts cannot be negotiated at reasonable rates, they will be put to local competitive bidding. Disbursement 31. For construction of the expressway and improvement of the national roads, disbursement would be made on the basis of 55 percent of the total cost, the estimated foreign exchange component. For the minor roads, dis- bursement would be on the basis of 70 percent of the estimated cost of rehabilitation up to a total of $5.5 million. Disbursement would be made against actual foreign expenditures for consultants' services and against the c.i.f. cost of the weighbridges. 32. Retroactive financing is recommended for about $650,000 equivalent for feasiblity studies and detailed engineering carried out in 1973 on 137 km of national roads, which were added to the project after the severe - 10 - flood damage in 1972; it would also include the operation of the Project Office in the BPH from September 1, 1973 and other small items. Economic Justification 33. The project would assist the Government of the Philippines to improve and mnodernize the road transport system of the island of Luzon and would fu-ther economic growth in the areas to be served by the roads included in the project. The project would reduce the present high road transport costs by lowering vehicle operating costs and by saving passengers' travelling time. It would provide year-round and flood-free access from agricultural areas to the Greater Manila area, much the largest and most important market in the Philippines, and it would relieve congested roads in the urban areas surrounding Manila. 34. The construction of the Burol-Angeles expressway extension would greatly reduce traffic congestion on the parallel Tabang-Angeles section of the Manila north road. The latter now carries an average traffic volume in excess of 9,000 vpd north of Tabang and this is expected to rise to 15,000 vpd in 1976. It would also open a fast reliable access route for through traffic to the urban market of Manila for agricultural produce, with some of the transport cost savings being passed on to urban constumers and farmers. The economic return for the expressway extension is estimated at 18 percent assuming an equal division of traffic between the expressway and the Manila north road. Tolls would be charged and progress will be watched so that if it appears that the tolls are diverting traffic, adjustments in their level will be made. 35. The nine national roads to be reconstructed or improved under the project constitute the most heavily travelled part of the road network on the island of Luzon. They all converge on the Greater Manila area, with the exception of two, which run east-west and serve Central Luzon. Their improvement would benefit densely populated areas which are essentially dependent on agriculture and also serve the Laguna de Bay area which has important industrial development potenuial. Road transport costs per km would be reduced by amounts varying from 5 percent to 30 percent for cars and jeepneys and from 8 percent to 32 percent for trucks and buses depend- ing on the degree to which each road would be improved. In addition, the improved roads would provide faster, flood-free access to markets, and reduce accidents. The estimatec economic returns on these roads range between 19 percent and 29 percent, including passenger time savings, and between 12 and 18 percent without. 36. The project includes the rehabilitation of about 700 km of minor roads which were severely damaged :by the 1972 floods. The roads would be chosen from 1,100 ons identif-ec bny consultants which were ranked by taking into account contiguity w-t-A the national roads included in the project, traffic levels and population density. The rural population which suffered heavily from the 1972 floods would benefit directly from the expected transport cost savings, improved access to markets and fewer accidents. Neither the benefits of repairing these roads nor the cost of rehabilitating - 11 - them could be assessed with accuracy slnce no traffic counts have been carried out in the past and the present lack of traffic is often due to the very poor conditions of the roads. Although not quantified, the benefits from repairing these roads would be considerable. PART V - LEGAL INSTRUMENTS AND AUTHORITY 37. The draft Loan Agreement between the Republic of the Philippines and the Bank, the Report of the Committee provided for in Article III, Section 4 (iii) of the Articles of Agreement of the Bank and the text of a draft resolution approving the proposed loan are being distributed separately to the Executive Directors. The draft agreement conforms to the normal pattern for loans for highway projects. 38. I am satisfied that the proposed loan would comply with the Articles of Agreement of the Bank. PART VI - RECOMMENDATION 39. I recommend that the Executive Directors approve the proposed loan. Robert S. McNamara President by S. Aldewereld Attachments November 20, 1973 AUi!'? T Page I of 2 pages COUNTRY DATA - PHILIPPIN.'S AREA 2 POPULATION DENSITY 297,000 kTf million (mid-1972) 39.0 131 per km2 Rate of GTowth: 3.O0
World Bank Group · Memorandum & Recommendation of the President
Philippines - Second Highway Project
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World Bank Group
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Memorandum & Recommendation of the President
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Philippines
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World Bank