Philippines - Engineering and Science Education Project

Document of The World Bank FOR OFCIAL USE ONLY MICROFICHE COPY Report No. P- 5635-PH 'rype: (PM) ASHER, S. / X81393 / E8101/ AS2PH Repot No. P-5635-PH MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$85.0 MILLION TO THE REPUBLIC OF THE PHILIPPINES FOR AN ENGINEERING AND SCIENCE EDUCATION PROJECT DECEMBER 27, 1991 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EOUIVALENTS (as of September 1991) Currency Unit = Philippine Peso (P) US$1.00 = P 28.00 P 1.00 = US$0.036 ABBREVIATIONS AND ACRONYMS DBM - Department of Budget and Management DECS - Department of Education, Culture and Sports DOST - Department of Science and Technology O&M - Operation and Maintenance PAG - Project Advisory Group PCR - Project Completion Report PICO - Project Implementation and Coordinating Office PPAR - Project Performance Audit Report S&T - Science and Technology SELF - Science and Engineering Laboratory Fund TPEE - Technical Panel for Engineering Education TPS - Technical Panel for Science FISCAL YEAR January 1 - December 31  FOR OFFICIAL USE ONLY PHILIPPINES ENGINEERING AND SCIENCE EDUCATION PROJECT Loan and Proiect Summary Borrower: Republic of the Philippines Amount: US$85.0 million equivalent Terms: 20 years, including five years of grace, at the Bank's standard variable interest rate Financing Plan: Local Foreian Total ------ USS million ----- Government 29.8 - 29.8 Private Univs. 11.1 4.8 15.9 IBRD 19.9 65.1 85.0 TOTAL 60.8 69.9 130.7 Economic Rate of Return: Not applicable Staff Appraisal Report: Report No. 9907-PH Map: IBRD No. 23074 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  MEMORANDUM AND RECOMMENDATICN OF THE PRESIDENT OF THE IBRD T^ THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE REPUBLIC OF THE PHILIPPINES FOR AN ENGINEERING AND SCIENCE EDUCATION PROJECT 1. I submit for your approval the following memorandum and recommendation on a proposed loan to the Republic of the Philippines for the equivalent of US$85.0 million to help finance an Engineering and Science Education Project. The loan would be at the Bank's standard variable interest rate, with a maturity of 20 years, including five years of grace. 2. Background. Advancea in technological capability are essential to sustain trade competitiveness in the internationa'l market. They also help to raise productivity, profits and real earnings of the labor force, and to counter environmental problems arising from industrialization and urbanization. Although the Philippines recognizes the crucial importance of technology, its technological capabilities are well below those of neighboring countries. A key contributing factor to this state of technology is the scarcity of well-qualified engineers and scientists because of weaknesses in its system of engineering and science education. These weaknesses are indicated by the 60-70% dropout rate from undergraduate degree programs as students fail math and science tests, a low 50% pass rate in professional board examinations in scientific and technical (S&T) fields, and the need for prolonged on-the-job training of graduates to compensate for their inadequate university training. 3. Problems with engineering and science education in the Philippines reflect problems affecting the overall system of higher education. Paradoxically, the strengths of the system--a high enrollment ratio and dominance of the private sector--are linked to its main weaknesses--its poor quality and unbalanced enrollment structure. The attractive private rate of return on higher education in the Philippines, combined with the limited number of places in public tertiary institutions, has led to an excess demand for higher education and the proliferation of private sector institutions to meet that demand. However, the heavy reliance on private funding, combined with students' interest in higher education primarily to obtain educational credentials in a short period of time, has led to a proliferation of low cost, low quality, job-oriented undergraduate programs in fields like accountancy, engineering, and teaching. The reliance on private funding has also led to the neglect of programs that are more expensive and important for their externalities, such as science education, graduate training and research. In addition to the system-wide weaknesses, engineering and science education programs suffer from internal inefficiency, over-regulation and inadequate incentives and monitoring. As a result, S&T manpower in the Philippines consists mainly of bachelor's degree or non-degree holders, who are weak in practical skills and untrained in independent research and the new technologies needed by nontraditional export-criented industries. 4. Recognizing that the country's competitiveness and industrialization depend on increasing the technological capabilities of industry, the Government in 1989 established an inter-ministerial Science and Technology Coordinating Council, chaired by the Secretary of the Department of Science and Technology (DOST), with a mandate to formulate and ensure implementation of strategies for a ten-year technology development plan. The plan focusses on upgrading technology in 15 economic sectors with major potential for increased productivity and value added.  - 2 - Under the plan, the Council has prepared a S&T manpower development program aimed at improving university education and research by strengthening curricula, faculty and facilities, and linking the universities with industry as well as research and de'Qlopment institutes. 5. Proiect Obiectives. The proposed project would improve technological capabilities for industrialization in the Philippines by supporting implementation of the Government's S&T manpower development program and thus increasing the supply of well-trained S&T manpower. The project would specifically aim to: (a) improve institutional mechanisms and criteria for funding and monitoring engineering and science education, including strengthening the monitoring roles of the Technical Panels for Engineering Education (TPEE) and for Science (TPS) under the Department of Education, Culture and Sports (DECS); (b) strengthen colleges of engineering and science which have met eligibility criteria by increasing their financial and resource management capacities, adjusting enrollment patterns to respond to S&T manpower needs, introducing new courses and programs concerned with management of the environment and technology, and improving the quality of instruction and laboratory practices in priority engineering and science fields; (c) improve science and math instruction in secondary schools to better prepare students for engineering and sci,tce colleges; and (d) increase institutional capacities to plan and coordinate S&T manpower development programs. 6. Prolect Descrintion. The project would have a policy action plan and six investment components. The Policy Action Plan would cover: (a) the preparation and application of criterie and directives to improve the institutional framework for funding and monitoring the quality of engineering and science education, aimed in part at phasing out over-expanded substandard undergraduate engineering programs; and (b) the establishment and monitoring of targets to improve the enrollment structure as well as the financial and resource management of institutions selected to participate in the project. The Investment ComDonents would support: (a) the development of programs, faculty and laboratories for (i) engineering education at five state and 14 private institutions, (ii) science education at four state and six private institutions, with environmental programs strengthened at three of these institutions, and (iii) management of technology at one state and two private institutions; (b) expanded reference book and journal collections, staff development, and networking arrangements for libraries at three engineering and seven science colleges; (c) in-service teacher training, library books, laboratory equipment and facilities for improved science and math education in 110 high schools and 22 teacher training institutions; and (d) the development of S&T manpower planning and monitoring capacity within DOST. Institutions to be funded under the project were selected on the basis of eligibility criteria found satisfactory by the Bank. 7. The project cost is estimated at US$130.7 million equivalent with a foreign exchange component of US$69.9 million equivalent (54%) and taxes and duties estimated at US$13.8 million equivalent. The proposed IBRD loan of US$85.0 million equivalent would finance 73% of the total project cost, net of taxes and duties, covering 100% of the foreign costs and 30% of the local costs net of taxes and duties (US$56.1 million). The Government would finance US$29.8 million equivalent (23% of total project cost including taxes and duties) through budgetary appropriations. Private universities would finance US$15.9 million equivalent (12% of total project costs including taxes and duties) to cover the cost of minimum  standard equipment, incremental teacher salaries, and laboratory operation and maintenance (O&M). The Social Security System agreed with DOST to make funds available for minimum equipment to interested project univArsities under its prevailinC terms and conditions. A breakdown of costs and the financing plan are shown in Schedule A. Amounts and methods of procurement and disbursement, and the disbursement schedule, are shown in Schedule B. A timetable of key project processing events and the status of Bank Group operations in the Philippines are given in Schedules C and D, respectively. A map is also attached. The Staff Appraisal Report, No. 9907-PH, dated December 20, 1991, is being distributed separately. 8. Implementation. The project would be implemented over a five-year period by DOST, in coordination with DECS, which is responsible for overall education policy and school supervision in the Philippines. DOST and DECS have signed a Memorandum of Agreement confirming their respective project roles. To facilitate project implementation and coordination, DOST would establish a decision-making Steering Committee chaired by the DOST Secretary and co-chaired by the DECS Secretary and the representative of private universities; a Project Advisory Group (PAG) consisting of five experienced engineers and scientists selected from both within and outside the country; technical Working Groups composed of DOST's engineering and science planning and coordinating offices; and a day-to-day Project Implementation and Coordinating Office (PICO). The status of project preparation is advanced with key PICO officers already designated and drafts of bid documents and equipment specifications prepared with technical assistance funded under the Japan Grant Facility. 9. Sustainability. The project design comprises measures to sustain its financial and technical impact. The relaxation of currently regulated tuition fees by allowing project universities to charge special laboratory fees would increase their ability to finance incremental recurrent expenditures. The income from the special fees would be used to create a revolving Science and Engineering Laboratory Fund (SELF) in each project university. Measures to improve the project technical sustainability would include instituting appropriate funding criteria and procedures for engineering and science education, strengthening standard-setting and monitoring roles of TPEE and TPS under DECS, and developing DOST's capacity to coordinate and monitor S&T manpower programs. 10. Lessons Learned from Previous Bank Operations. Since 1965, the Bank has financed US$432 million for nine education projects in the Philippines, seven of which have been completed. Lessons particularly relevant to the proposed project are from the Agricultural Education (Ln. 1374-PH) and Fishery Training (Ln. 1785-PH) Projects which helped improve tertiary education in their respective fields. Experience with these projects points to the need for: firm linkages between training institutions and industry; development of rational criteria for selection of institutions for funding; close involvement of end-users in identifying equipment needs and testing delivered equipment; and follow-up actions to recommendations made by the Technical Panels to DECS on training standards. Additional lessons are also learned from the experience of the Engineering Education Project (Ln. 306-PH, 1977) assisted by the Asian Development Bank. Lessons include the need for: reviews of qualitative standards and man-rement commitment in selecting participating universities; linkages of equipment lists to the curricula offered; and if onlending is involved, structuring of subloans extended in the local currency to avoid the  effect of foreign exchange fluctuations on university cash flow requirements. 11. Rationale for Bank Involvement. In support of its technology development plan, the Philippine Government requested Bank assistance in improving the technological capabilities of local industries and in increasing the supply of S&T manpower for both industry and academe. The Government goal in upgrading technology, i.e., to increase economic efficiency ard productivity, is also the chief objective of the Bank's country assistan'_ s.crategy. The Bank is therefore responding to the Government request through the proposed S&T manpower development project as well as an industrial technology development project now being prepared. The proposed project would also allow the Banke to continue its dialogue with the Government on major policy issues in higher education, which were identified in the Bank's 1988 education sector report, and to assist the Government in selecting the appropriate measures to address those issues. 12. Actions Agreed. Agreements have been reached between the Government and the Bank that: (a) by August 31, 1992, DOST would install a system to monitor progress and outcome of the scholarship programs; (b) by December 31, 1992, project state universities would obtain approval from the respective Boards of Regents to charge a special laboratory development fee and special laboratory tuition fee; (c) by December 31, 1992, each project university would create a SELF; (d) by May 31, 1993, all project universities, state and private, would meet minimum laboratory equipment standards. It has also been agreed with the Government that conditions of loan effectiveness would be the appointment of all PAG members and all full-time PICO staff, and issuance of the DECS order authorizing project private universities to charge special laboratory fees. 13. Environmental AsRects. The environmental impact of the proposed project would be long-term, remedial and preventive. By increasing the focus of environmental studies on the urban and industrial environment and scientific collection of quality baseline data, and by improving training and research capacities in fields such as hydraulic engineering and earth sciences, the project would contribute to improved management of environmental problems related to air and water and solid-waste disposal as a result of increasing urbanization and industrialization. 14. Proiect Benefits. Quality and efficiency improvements expected at the institutions participating in the project would permit an annual output of about 5,000 and 2,000 better trained engineers and scientists, respectively. Outputs from project institutions would account for about 20% and 40% of the total annual graduates with bachelor's degrees in the priority engineering and science fields, respectively, and about 25% and 100% increases in engineering and science graduates with advanced degrees, respectively. These engineers and scientists would possess the appropriate new technology skills and research capability needed for technology transfer and assimilation, and for efficient operations of industrial plants. The project would also produce scientists and engineers trained to focus on protective measures for the urban and industrial environment and assure the collection of quality baseline oata which are essential for environmental management. 15. The project would also further expand access to improved high school science and math instruction to better prepare youth for higher education as well as for employment in S&T fields. The number of high schools with special emphasis on  - 5 - science and math would increase from the few currently available in major cities to 110 schools spread over 13 regions. Institutionally, the project would improve DOST's capacity to plan, coordinate and finance manpower development, strengthen the Technical Panels' monitoring and advisory roles, and develop a sciance and engineering library management system among the participating universities. With all these improvements combined, the project should impr i the likelihood of the Government's success in achieving its goals of increasing industrial productivity and c ..npetitiveness. 16. Risks. There are several risks. First, the social pressure to further expand underfunded and low quality programs may persist, resulting in a continued mismatch between supply and demand. To minimize this risk, the monitoring roles of TPEE and TPS would be expanded, and agreement would be reached with the Government on phasing out the substandard programs. Second, recurrent cost funding may be inadequate for O&M and pericdic upgrading of laboratories due to the lack of trained staff and funds. The project would therefore provide incentives for improvement of laboratory classes and faculty, would create funds for O&M and upgrading of laboratories, and would include a study on mechanisms for financing long-term recurrent technical and financial needs. Third, a potential brain drain of faculty granted foreign scholarships is another concern. However, faculty would be bound by the conditions of such awards that include a penalty to repay scholarship costs if they decide not to return to the country and, for those who return, an obligation to work at their institutions for a duration of twice the scholarship period. The effort to link the fields of scholarships to the equipping of specialized laboratories under the project would also minimize a loss of faculty as it would allow returning scholars to continue research and conduct effective teaching. Further, the project would install a scholarship monitoring system to provide a timely feedback on the progress and make appropriate corrective actions, if needed. Finally, this is the first time DOST would be managing a World Bank-assisted project. However, the risk would be minimized by structuring management functions around existing line offices already engaged in similar activities, developing the MIS for improved program monitoring, pro-riding technical assistance for project management, and conducting intensive Bank supervision in the early years of project implementation. 17. Recommendation. I am satisfied that the proposed loan would comply with the Articles of Agreement of the Bank and recommend that the Executive Directors approve it. Lewis T. Preston President Attachments Washington, D.C. December 27, 1992  -6- Schedule A PHILIPPINES ENGINEERING AND SCIENCE EDUCATION PROJECT Estimated Costs and Financing Plan (USS million) Local Foreign Total Estimated Proiect Cost /a Engineering education 19.1 19.9 39.0 Science education and research 19.4 21.4 40.8 Management of technology 0.2 0.8 1.0 Library networks 3.0 6.3 9.3 High school science and math/ in-service teacher training 8.8 7.3 16.1 S&T manpower planning & monitoring 1.0 I 0 1.9 Base cost 51.5 56.6 108.1 Physical contingencies 3.3 6.1 9.3 Price -ontingencies 6.0 7.3 13.3 Total Project Cost LO A 19-9 130 7 Financing Plan Government 29.8 - 29.8 Private Universities 11.1 4.8 15.9 IBRD 19.9 65.1 85.0 Total i60. 69I9 lS Including taxes and duties equivalent to US$13.8 million.  -7- Schedule B Page 1 of 2 PHILIPPINES ENGINEERING A-ND SCIENCE EDUCATION PROJE.T Procurement Method and Disburgementc (US$ million) Procurement Method Total Category of Expenditure Ica LCB OtherL_a N.A. CostL/ Overseas training Degree - - 9.1 - 9.1 (9. 1) (9.1) Other - - 0.9 - 0.9 (0.9) (0.9) In-country training Degree - - 10.6 - 10.6 (10.6) (10.6) Other - - 2.3 - 2.3 (2.3) (2.3) Substitute teacher salaries - - - 9.0 9.0 Equipment Minimum standards - - 6.6 - .6 (0.0) (0.0) Undergraduate 8.3 1.5 0.5 - 10.3 (6.7) (1.3) (O.A) (8.4) Graduate/Research 24.8 4.6 1.5 - 30.9 (20.0) (3.8) (1.3) (25.1) Miscellaneous 4.7 0.9 0.3 - 5.9 (3.9) (0.7) (0.2) (4.8) Books, journals and instructional materials - - 13.7 - 13.7 (11.1) (11.1) Civil works - 8.0 2.1 - 10.1 (7.6) (1.9) - (9.5) Technical assistance - - 2.4 - 2.4 (2.4) (2.4) Management and Supervision Lc - - 0.8 0.8 (0.8) (0.8) Incremental O&M Id - - - 15.1 15.1 Incremental salaries /d - - - 3.0 3.0 Total 37.8 15.0 50.0 2Y. 130.7 (30.6) (13.4) (40.2) (0.8) (85.0) La Other procurement procedures include: shopping procedures; direct purchases for books and journals; end technical assistance enqageJ in accordance with Bank guidelines. It also includes minimum standards equipment procured independently by private universities, using own funds or loans from SSS. fb Totals represent total estimated costs per category including physical and price contingencies. ZE Project management includes expenditures directly related to tne management of the project such as travel, consumable materials and honoraria. g The Goverrment and private universities would finance 100X of these expenditures. Note: Figures in parentheses are the respective amounts financed by the Bank.  Schedile B Page 2 of 2 Disbursements (US$ million) Categorv Amount Expenditures to be Financed Equipment 36.3 100% of foreign expenditures for directly imported goods, 100% of local (ex-factory) expenditures for locally procured goods, and 75% of local expenditures for locally procured goods Books, journals & instructional. materials 10.5 100% of foreign expenditures for directly imported goods, 100% of local (ex-factory) expenditures for locally procured goods, and 7F% of local expenditures for locally procured goods Civil works 8.5 90% of total expenditures Training 21.8 100% of total expenditures Consulting services 2.3 100% of total expenditures Management and supervision 0.8 100% of total expenditures Unallocated 4.8 TOTAL 85.0 Estimated I8RD Disbursements: IBRD Fiscal Year 1992 1993 199X 1995 1996 1997 -US$ million - - - - - - Annual 2.0 11.0 24.0 28.0 15.0 5.0 Cumulative 2.0 13.0 37.0 65.0 80.0 85.0  -9- Schedule C PHILIPPINES ENGINEERING AND SCIENCE EDUCATION PROJECT Timetable of Key Prolect Processing Events (a) Time taken to prepare the project: 15 months (b) Prepared by: Government (c) First Bank mission: October 1989 (d) Appraisal mission departure: March 1991 (e) Negotiations: December 2-5, 1991 (f) Planned date of effectiveness: April 1992 (9) List of relevant PCRs and PPARs: credit/Loan No. Proiect PCR No. & Date PPAR No. & Date Ln. 393-PH Education I 0820 7/75 Cr. 349-PH Education II 4162 11/82 Ln. 1224T--PH Education III (Textbooks) 6279 6/86 Ln. 1374-PH Education IV 6348 7/86 Ln. S008-PH Education V (Mass Media) 5004 3/84 Ln. 1786-PH Education VI (Fisheries Trng.) - 8788 6/90 Ln. 2030-PH Sector Program for Education 9923 9/91  Schedule 0 - 10 - Peg 1 org THE STATUS OF SANK ROUW OPERATIONS IN THE PHILIPPINES A. STATEMENT OF BANK LOANS /0 (AS of September 0 , 2991) Loan or Credit Fiscal Number Year Borrower Purpose Bank IDA Udklxna Ninety-four loons and six credits fully disbured 3,853.89 105.18 Of which SECALS, SAL, nd Program Loans 1908 1981 Rop. of the Philippines SAL I 199.98 2268 1988 Rep. of the Philippines SAL II 802.26 2469 1986 Rep. of the Philippines Agriculture Sector Inputs 160.00 2787 1987 Rep. of the Philippines Economic Recovery Program 800.00 Subtotal 952.21 2173 1982 Rep. of tho Philippines Communal Irrigation 88.60 .46 2257 1988 Rep. of the Philippines Regional Citie. Developoment 89.44 9.14 2277 1991 Rep. of the Philippines Environment A National Resource Mgt. 68.00 65.88 2860 1984 Rep. of the Philippines Central Visayss Regional Dev. 24.97 7.59 2418 1984 Rep. of the Philippines Highways V 102.00 49.48 2435 1984 Rep. of the Philippines Municipal Development 40.00 18.70 2676 1986 Rep. of the fhi;lppines Manila Water Distribution 88.00 10.08 2716 1988 Rep. of te.t Philippines Rural Roads lI 82.00 59.31 2828 1987 Rep. of the Philippines Provincis Porte 82.00 12.03 2948 1988 Rep. of the Philippines Irrigation Operations Support 23.60 7.83 2956* 1986 Rep. of the Philippines Program for Government Reform 200.00 50.08 2969 1988 Phil. National Oil Co. Bacon-Manito Geothrmal Power 41.00 7.92 2969-1 1988 Phil. National Oil Co. Gaon-Manito Geothermal Power 69.00 60.68 2974 1988 Rep. of the Philippines Housing Sector 160.00 56.76 8088 1989 Rep. of the Philippines Smi IV 80.00 5.61 8049* 1989 Rep. of the Philippines Financial Sector 800.00 160.00 8084 1989 Dev. Bank of the Phil. Manila Power Distribution 66.50 58.48 8099 1990 Rep. of the Philippines Health Development 70.10 683.14 8128 1990 Dev. Bank of the Phil. Industrial Investment Credit 65.00 4.71 8124 1990 Metro. Waterworks A Sew. Angst Water Supply 40.00 22.00 8146 1980 Rep. of the Philippines Municipal Development It 40.00 86.81 8149 1990 Rep. of the Philippines Debt Management Loan 200.00 50.00 8168 1990 Phil. National Power Corp. Energy Sector Loan 200.00 129.74 8164 1990 Phil. National Oil Co. Energy Sector Loan 160.00 126.67 816S 1990 Rep. of the Philippines Energy Sector Loan 40.00 28.92 3204 1990 Rep. of the Philippines Coconut Forms Development 121.80 112.47 8242 199A Roe. of the Philippines WS/Sewer/Senitation 86.00 80.00 8244 1991 Rep. of the Philippines Second Elementary Education 200.00 176.61 8261 1991 Rep. of the Philippines Comunal Irrigation II 4e.20 45.65 8268 1991 Rep. of the Philippines Earthquake Reconstruction 125.00 97.05 8287 1991 Rep. of the Philippines Industrial Restructuring 175.00 149.95 8812 1991 Rep. of the Philippines Cottage Enterprise 15.00 16.00 8856 1991 Rep. of the Philippines Rural Credit 150.00 150.00 8860 1991 Rep. of the Philippines Environment h National Roe. Mgt. 158.00 158.00 Total 8,889.87 171.18 2,086.22 of which has been rpoid 1 729.52 4.69 Total now held by Bank and IDA 1ee.4s of whith repaid 81.85 Total undisbursd 1,998.82 87.60 2,068.22 /a The status of the project listed in Part A Is described In separate report on *ll Bank/IDA-f lonned projcts in execution, whilch Is updated twice yearly and circulated to the Executtve Directors on April 80 and October 81. e SAL, SECAL or Program Loon  Schedule O - 11- ~~~~~~~~Page2 of B. Statement of JFC Investments (As of Septewbor 8, i991) Total held Undlab. incid. Flocal Type of Or,gin[ Comm;tments by ZFC participants Yoar Obligor Business LEa; Equity Total (at cost) portion 1963/73 Private Dev. Corp. Dov. Finance 16.0 0.4 16.4 - - of the Philippines 1997/79 Manila Electric Co. Utilities 86.1 4.0 40.1 28.6 - 1970/86 Philippine Long 1986/90 Distance Tel. Co. UtiIities 127.7 0.8 128.5 82.0 26.0 1970/72 MarIlwass Mfg. Co. Construction materiale 0.6 0.4 1.2 - - 1970 P*per Ind. Corp. Pulp A Paper - 2.2 2.2 - - 1971/77 PhilIppine Petroleum Chemicals/petrochem.6.2 2.1 8.8 - - 1972 Morinduque Milling and Ind. Corp. M1lna 15.0 - 16.0 - - 1978 Victories Chemical Corp. Chemical 1.9 0.8 2.2 - - 1974 Fillpinas Synthetic Fiber Corp. Textile A Fibers 1.6 - 1.5 - - 1974/79 Maria Cristina Chemical Elctro- Industry chemicals 1.6 0.6 2.2 0.4 - 1974 RFM Corporation Food & Food Processing 1.2 - 1.2 - - 1976 Phil. Polyamide Ind. Corp. Textile & Fibers 7.0 - 7.0 - - 1976 Philagro Edible Coconut Oil Oils, Inc. Copra 2.7 0.2 2.9 - - 1977 Srmiento Ind. Plywood 8.5 - 8.6 - - 1977 Acoje Mining Co. Ltd. Mining 8.2 0.5 8.7 1.8 - 1978 Cebu Shipyard and Engineering Works Ship-repairing 2.1 - 2.1 - - 1979/90 Gen. Milling Corp. Food & Food Piocassing 4.0 1.7 6.7 1.7 - 1980 Ventures in industry and Venture Business Enterpries, Inc. capital - 0.2 0.2 - - 1910/83/86 All Asia Capital a ueasing Equipment leasing 11.1 0.6 11.9 1.9 0.7 1980 Consolidated Ind. Gas, Inc. I/ Industrial Cases 4.6 - 4.5 - - 1981 Philippines Associated Cement 16.0 - 16.0 2.0 - Smelting a Refining Corp. 1981 Davao Union Cement Corp. Csemnt 16.0 - 16.0 2.0 - 1981 Loans to Small & Medium Capital Scale Enterprises (SMSE)/ markets 18.0 1.1 19.1 - - 1988 NDC-Outhrie Plantations Inc. Agribusiness 11.0 - 11.0 9.2 _ 198S Philippine Overseas Contractors Construction 38.0* - S8.0 - - 1996/91 Purefoods Food Proc. - 1.9 1.9 1.9 - 1968 BPI Agribank Finan. Inst. - 1.0 1.0 1.0 - 1989 Kwealram Phil. Inc. Textiles & Fibers 8.0* - .0 1.8 - 1988 PhIlIund Debt Conversion Fund- 4.2 4.2 - - 1989 AG & P Construction 10.0e - 10.0 10.0 - 1989 Hambrecht A Quiet Capital Fund - 2.2 2.2 2.2 0.6 1990 Hopewell Power 10.0 1.1 11.1 10.0 0.1 1990 Manitl Fund Money a Cap. Markets - 7.0 7.0 - - 1990 First Phil Fund Money A Cap. Markets - 20.0 20.0 - - 1990 Aventax Mill Corp. Textile 11.8 2.8 18.6 18.0 2.6 1991 Beet Chemicals Chemicals 6.5 2.8 8.6 8.6 0.8 1991 Automated Micro-elect. Electronics 9.0 2.8 11.8 11.8 9.5 1991 Mskati Shangri-La Tourism 69.6 - 69.6 29.5 69.0 1991 PCI Bank Fin. Inst. 20.0* - 20.0 20.0 20.0 Total  Schedule D - 12 - Pag a oi a Total hold Undl;b. incid. Fiscal Type of Orianl Commitments by IFC participants Year Obligor Business Lon Equity Toti (at cost) portion Aporoved but not yet stoned lS90 Luzon Petrochemical /b Petrochemicals 90.0 15.0 105.0 - - 1991 Mactan Shangri-La Tourism 24.0 - 24.0 12.0 24.0 1991 Phtinico Ntickel Mining 90.0 15.0 105.0 50.0 105.0 Total Gross Coumitments a Subsequently cance lld. Subsequently dropped. Guarntees as of September a0, 1991. Exchange rat, usd: e 28/S  IBRD 23074 _ 2 , 24- 12ew SiIGINEERN AND SCIDICE EDUC4AON PHILIPPINES t ILOCP INTITUTONS REGIKG ENGINEERING AND SCIENCE CORDILLERAAMlNT;lVI REGION (CAM EDUCATION PROJECT I Saint Louis University 20 11 CAGAYAN4 VALJFY * 20t CENTRAL LUZON IATANE ENGINEE RNtINNSTITUTiONS IV SOUTHERN TAGALOG t 9 SCIENCE INSOTTUTIONS 2 =oIz 30rbon MemoriaDO tnstite of Tecthnoyog A xs V SICOL 0 1ECS WESERNVISAY' A NATIONAL CAPITAL 3 Conto PhiliNppine Uniwiuty 4 Unit,er%ityNf oro. REGION BOUNDARIES VtI CENTRAL V'SAY - INTERNATIONAL DOUNDARIES S Silln,on Univemity Tu5olQo 6 Uniersity of Son Co.io. CAR I , .,, ,, . R KILOMETER 0 100 200 300 S-n Vrntndo J MILES 0 50 100 10 200 V IiI EASTERN VSAYAS s IX WESTERNMNDANAO C X NORTHERN M tNaANAO 7 XA'vier University Xi SOITHM 1N1N1 A 8 Afeneo d Ctao Uni ve 1HtLs4NS,S/ 9 University of Mindanao nro,o 7 , PHILIPPINE SEA XII CENL MtNiNkO NCR 10 Mindonoo Stcne Jnn-e hy- V Iigon Instite of Technolog/y ,4- .l,52 . -,- _N /*t f ' - .CATANDLIANES S 0 Bao nga.\ - - NAllONAL CIkLM iiEGION (NCB / I IAdcton U.ivercity ( ,0sp 1 So co Techni;al Colege iV 13 0. Lo Sotl- Unis'raity MINDORO 14 Mopu,o lnsitute of Tochno.logy 15 Rizol Technological College g2e 16 T1echolpicol University of 1 17 the philipipine., /VI 17 Univerity of Phllippines, Otlimon 18 University of So,to Tomna_ 19 Universy of the East VI PANAY S, , 1,,4;1 . 8_CEEBV . e ,5 A, ,, PALAWAN / h- - . 1 VISAY 1.1 ~~~~~~~~~ NE ~~~~~~~~BOHOL' KOr / la- o..q IIICAO~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~I .1/ M I 0 Do N A O 144 P%d..w icl" - th.~~ ~ i~oo MM p/" 'WM,wf a- SULU MD Th nsop ho bn nd try12 /2e IL II1,nI t. o! TheW<dStk- - G ~~~~~~~~~~rpThe denob.anso seid, \ ~~~~~~~~~~e,d the bo.endo.is sIs,s, t on *;s p tfrb nrf tmpo, sn e Nt p of T Wcr~~~~~~~~~~thekG: SULU ., ~~~~~~tshbs,t oer leorsporsofn M&AS:A e.i/ >5tndo - ~ ~ ~ ~ ~ ~~2 12_ '2 noos