China - Fujian Provincial Highway Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No. P-6143-CHA 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 $140 MILLION TO THE PEOPLE'S REPUBLIC OF CHINA FOR A FUJIAN PROVINCIAL HIGHWAY PROJECT November 15, 1993 MICROGRAPHICS Report No: P- 6143 CHA Type: MOP 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. CURENCY EQUIVALENTS (as of July 1993) Currency name - Renminbi Currency unit - Yuan (Y) - 100 Pen $1.00 M Y 5.75 $0.174 M Y 1.0 FISCLYAR January 1 - December 31 WEIGHTS AND MEASURES 1 meter (W) M 3.28 feet (ft) 1 kilometer (km) = 0.62 mile (mi) 1 square meter (m2) W 10.76 square feet (eq ft) 1 square kilometer (lm2) - 0.4 square miles (eq a) 1 hectare (ha) - 0.01 km - 2.47 acres (ac) - 15 mu 1mu 666.7 sq a - 0.0667 ha 1 kilogram (kg) = 2.2046 pounds (lb.) 1 metric ton (m ton) = 2,204 pounds (lb.) ABBREVIATIONS AND ACRONYMS EA - Environmental Assessment EAP - Environmental Action Plan GOVAI - Gross Output Value of Agriculture and Industry RAP - Resettlement Action Plan RNIP - Road Network Improvement Program FOR OFFICIAL USE ONLY HINA FUJIAN PROVINCIAL HIGHWAY PROJECT Loan and Project Summary Borrower: People's Republic of China Beneficiary: Fujian Provirce Amount3 $140 million equivalent Terms: 20 years, including 5 years of grace, at the Bank's standard variable interest rate Financing Plan: Local Foreign Total --------- ($ million) --------- Provincial Government 304.4 35.7 340.1 Central Government 48.7 - 48.7 IBRD - 140.0 140.0 Total 353.1 175.7 528.8 Economic Rate of Return: 25 percent Poverty Category Not applicable Staff Appraisal ReEort: Report No. 12267-CHA Maes IBRD 25227, 24666, 24667 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. MWHORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BAK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE PEOPLE'S REPUBLIC OF CHINA FOR A FUJIAN PROVINCIAL HIGHWAY PROJECT 1. I submit for your approval the following memorandum and recommenda- tion on a proposed loan to the People's Republic of China fcc the equivalent of $140 million to help finance the Fujian Provincial Highway Project. The loan would be at the Bank's standard variable interest rate, with a maturity of 20 years, including five years of grace. The proceeds of the loan would be onlent to Fujian Province for 20 years, including five years of grace, at a rate equivalent to 90 percent of the rate payable to the Bank by the Borrower with a 0.75 percent per annum commitment fee on the unwithdrawn balance. Fujian Province would bear the foreign exchange risk. 2. Country/Sector Background. China has enjoyed strong economic growth since its opening to foreign investment in the late 1970s, which has placed severe pressure on the transport sector to such an extent that the inadequate capacity of transport facilities is constraining further development in some important traffic corridors. With respect to the road transport planning and investment strategy, the Government's focus has been on the phased development of an interprovincial highway network for the exclusive use of motorized vehi- cles, giving priority to those corridors where heavy concentration of traffic has created congestion and bottlenecks on existing traffic routes. Fujian Province, in addition to ensuring adequate road maintenance, has given prior- ity to expanding and improving provincial, county, and rural road networks in order to provide better access and greater mobility and to stimulate socioeco- nomic activity, particularly in the country's less-developed regions. 3. Fujian Province, located Llong the southeastern coast, has a popula- tion of about 31 million. Between 1985 and 1992, the Province's Gross Output Value of Agriculture and Industry (GOVAI) grew at an annual rate of abou. 24 percent (at current prices). The general trend in increasing road trans- port demand in China is evident in the Province, particularly in the densely populated and economically most active coastal region along National Route No. 324. The corridor along National Route No. 324 accommodates 62 percent of the Province's population and accounts for 69 percent of the Province's GOVAI, with only about 23 percent of the land area. 4. The corridor's economic activity is buoyed by a high influx of for- eign investment. Attracting foreign investment is a key element of the Prov- ince's economic development strategy, and the coastal region between the major cities of Zhangzhou, Xiamen and Fuzhou is considcred particularly suited for such investment in the interest of continued economic development of the region. 5. Proiect Objectives. The proposed project has been designed to: (a) support the continued development of road infrastructure in Fujian Prov- ince to facilitate mobility and increase the efficiency of road transport in - 2 - the interest of stimulating economic activityi (b) develop an action plan for the strengthening of the provincial road construction industry; (c) assist in the development of institutional capabilities for transport planning and investment prioritization; and (d) facilitate the transfer of highway con- struction and maintenance technology through staff training and the provision of equipment. 6. Proiect Description. The project comprisest (a) the construction of the Xiamen-Quanzhou four-lane, divided, access-controlled highway (81.4 km); (b) a Road Network Improvement Program (RNIP), including the upgrading (58.3 km) and paving (202.7 km) of seven rural arterial roades (c) construction supervision of the Xiamen-Quanzhou Highway and the civil works included in the RNIP; (d) purchase of equipment for highway operation and maintenance, road laboratories, a road data bank and a pavement management system; (e) a study of the provincial road construction industry; and (f) staff training. 7. Project Implementation. The proposed project would be carried out by Fujian Province. The project cost is estimated at $528.8 million equiva- lent, with a foreign exchange component of $175.7 million equivalent (33 per- cent) and identifiable taxes and duties estimated at about $18.5 million equivalent. Taxes and duties would not be financed from the proceeds of the loan. The Bank would finance $140.0 million equivalent (80 percent) of the foreign exchange and 26 percent of the total cost. Retroactive financing of $2.0 million and $0.7 million is recommended, respectively, fors (a) civil works under the RNIP, and (b) consultant services for the training of local construction supervision personnel. Expenditures incurred after October 31, 1993 would be eligible for retroactive financing. The project costs and financing plan are shown in Schedule A. Amounts and methods of procurement and disbursements, and the disbursement schedule are shown in Schedule B. A timetable of key project processing events and the status of Bank Group opera- tions in China are given in Schedules C and D, respectively. The Staff Appraisal Report No. 12267-CH& dated November 17, 1993 is being distributed separately. 8. Prolect Sustainability. China has a good record of sustainability of its highway investments. The physical components of the project would be sustainable subject to adequate budgetary and institutional support from the Province to assure an appropriate level of maintenance. Revenues for the maintenance of the provincial road network are expected to continue to increase with traffic, and toll revenues from the proposed highway would pro- vide additional resources. The staff training program and equipment to be procured are regarded to be a satisfactory means for technology transfer of lasting impact and value. The study of the provincial construction industry is expected to lead to measures with sustainable long-term benefits to the industry. 9. Lessons Learned from Previous BankflDA Involvement. To date, the Bank Group provided more than $1 billion in loans and credits to China for highway projects. The lessons learned from the implementation of these proj- ects include the need for careful review of highway design with the help of external assistance, adoption of stricter prequalification criteria for con- tractors, advance preparAtion of bidding documents, and early definition of - 3 - the organizational arrangements for construction supervision. Lessons learned from the execution of Bank projects have been incorporated in the formulation of the proposed project. A team of international consultants has been involved in various stages of the preparation and review of the highway design. The procurement process for this project has been running parallel with project preparation, reducing the risk of initial delay in implementation following approval of the Bank loan. Furthermore, the selection of foreign supervisors and other preparatory work for construction supervision is under way, assuring timely mobilization of the supervision personnel. The weak- nesses of the local highway construction industry have al3o been recognized in the course of Bank supervision of ongoing highway projects. As a first step to address this critical area, a study of the provincial road construction industry is included in the project with the objective of identifying possible measures for the industry's strengthening. 10. Rationale for Bank Involvement. The Bank's involvement in the high- way sector is consistent with the Country Assistance Strategy for China pre- sented to the Board in August 1993, and with its further elaboration in a draft Highway Development and Management paper (Report No. 11819-CHA in prcg- ress). Infrastructure bottlenecks, and in particular inadequate transport infrastrActure, were cited as one of the key remaining constraints to growth. It was also noted that in view of the severe imbalance in the Chinese trans- port system, which presently is skewed toward the railway network, intensified priority will be accorded to the development of the interprovincial highway network and the upgrading of the provincial road networks. Highway lending will also be expected to address environmental protection, resettlement of individuals affected, road safety, improved methodologies for investment anal- ysis, and transfer of advanced technology for design and implementation. Fur- thermore, the Bank will provide assistance for institutional development, sectoral reforms, models of resource mobilization, enhancement of the quality of construction and modernization of highway operations and its management. 11. The proposed project is consistent with the assistance strategy objectives outlined above. The new Xiamen-Quanzhou highway to be constructed under the proposed project is an important link in the coastal, interprovin- cial highway network. Construction of the proposed highway will relieve bot- tlenecks along the existing road between Xiamen and Quanzhou, which is one of the most heavily trafficked road sections in the Province. The highway will also provide direct links to the Xiamen Special Economic Zone and the Port ef Xiamen, complementing earlier Bank assistance by improving access to the port's newly-expanded cargo-handling facilities. The project's support for an RNIP will also help areas where the substandard road system now constrains development. 12. The project wil' also contribute to subsectoral development by pro- moting advanced design practices, competitive bidding for the procurement of civil works and stringent quality control through more effective on-site supervision and an extensive staff training program. In addition, the project will provide the Province with road condition survey equipment, and computer hardware and software to facilitate the introduction of methodologies for economically based investment decisions. Equipment for road laboratories to support technological improvements in road construction and road maintenance will also be provided. - 4 - 13. The study of the provincial road construction industry aims to iden- tify appropriate measures for increasing the capacity, efficiency and finan- cial viabilitl of local road construction enterprises. The study would focus on the enterprise reform initiatives of Fujian Province as they impact the transformation of state-owned enterprises. The funds included in the project from the loan proceeds would be supplemented by a portion of a technical assistance grant obtained from the Japanese Government earlier this year for a highway construction industry study. The remaining portion of the grant funds would be used to carry out a nationwide survey of the highway construction industry, which will be designed primarily to identify the overall profile of the industry. Such baseline information would then be used in the formulation ef a broad strategy for the future development of the industry. 14. Axreed Actions. During nertiations, agreement was reached with the Borrower regarding the onlending arrangements for the proceeds of the loan to Fujian Province. Assurances were also obtained from Fujian P7ovince concern- ing: (a) the undertaking of a provincial road construction industry study and a staff trainiug program; (b) the execution of Environmental Action Plans (ZAPs) satisfactory to the Bank; (c) resettlement under the project in accord- ance with plans satisfactory to the Bank; (d) monitoring of the effectiveness and socioeconomic impact of resettlement; (e) the organizational arrangements and staffing for RNIP; (f) the auditing of project accounto and the Special Account by independent auditors; and (g) submission of recommendations regard- ing the rationale for setting appropriate toll levels for the Xiamen-Quanzhou Highway. 15. Environmental/LResettlement Aspects. The Environmental Assessment for the Xiamen-Quanzhou Highway was completed by the Fujian Provincial Envi- ronmental Protection Research Institute during 199111992. The assessment indicated that the highway will not affect ecologically sensitive areas and, if appropriate actions are taken, it should have no adverse impact on the environment. Based on the EA's findings, and discussions between representa- tives of Fujian Province and Bank staff, an EAP has been prepared which speci- fies the measures and organizational and monitoring arrangements required to mitigate potential adverse effects on the environment during the construction and operation of the highway. The RAP has been reviewed by Bank staf and found to be satisfactory. The main preventive measures, which have been included in the bid documents for execution under the civil works contracts, relate to social disruption, air quality, noise control, water management and control of traffic, and the operation of quarries and waste disposal. The approximately 15,SC) people to be affected by highway construction will be resettled under a Resettlement Action Plan (RAP), which has been submitted to the Bank and found to be satisfactory. 16. No major risks of adverse impact on the environment were identified in the course of review of the proposed scope of works on roads included in the RNIP. The potential minor adverse environmental effects of the group of roads to be improved under the RNIP have been assessed and an EAP has been submitted to the Bank and found to be satisfactory. For the group of roads to be paved under the RNIP, an agreed Code of Environmental Practice for Road Works will be applied. An RAP for the RNIP roads, involving the resettlement of about 700 people, has been submitted to the Bank and was found to be satis- factory. - 5 - 17. Project Benefits. The main quantifiable benefits associated with development of the highway and the seven rural arterial roads include savings in vehicle operating costs, travel time, and road maintenance costs, and savings through reduction of traffic accidents. Benefits from the project would accrue to road users, including the operators of freight and passenger transport services, enterprises and farmers, in the form of reduced vehicle operating costs. The Province would benefit from the reduced cost of road maintenance, and a broad segment of the community would benefit from an expected reduction in traffic accidents. Benefits, particularly from the RNIP, would accrue from improved access to remote areas through fostering accelerated economic growth and greater mobility for social activities. Institutional benefits accrue from the involvement of local personnel in proj- ect preparation, requiring particularly rigorous treatment of economic and environmental assessments, engineering design, technical specifications and construction practices. Such exposure will provide benefits far beyond the implementation period of the proposed project through the experience gained by the personnel involved. The specific attention given to the road construction industry in Fujian Province to encourage its transition to market-orientated operations is also an initiative with good potential for long-term benefits. The estimated economic internal rate of return for the project is 25 percent. 18. Risks. Based on the experience with ongoing highway projects, the main risk is implementation delay, particularly for the highway component. Because of the difficult subsoil conditions along some of the highway align- ment, the relatively high number of tunnels and bridges to be constructed and the extensive rock excavation involved, there are major risks of delay in the timely completion of the highway. Since Fujian Province is a first-time bor- rower for a major Bank-financed highway project, such lack of experience adds an element of risk to smooth project implementation. However, project prepa- ration has benefited significantly from the Bank's previous experience in similar highway projects in China, the participation of foreign experts in the design of the highway and the preparation of the bidding documents and techni- cal specifications, the stringent prequalification of contractors, and the careful formulation of supervision to ensure regular monitoring and ef.ective quality control. 19. 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 the proposed loan. Lewis T. Preston President Attachments Washington, D.C. November 15, 1993 - 6 - Schedule A C1N FUJIAN PROVINCIAL HIGHWAY PROJECT Estimated Costs and Financing Plan ($ million) Local Foreign Total A. yerks 1. Highway 188.9 126.0 314.9 2. Flectrical & Merhanical Works 1.3 5.2 6.5 3. Road Network Improvement Program 20.3 8,7 29.0 Subtotal 210.5 139.9 350.4 B. Supervision 1. Highway 5.9 2.5 8.4 2. Road Network Improvement Program 0.3 0.0 0.3 Subtotal 62 2.5 L C. Equipment 1. Highway Operations & Maintenance 0.2 2,1 2.3 2. Laboratories 0.1 0.4 0.5 3. Road Data Bank/Pavement Management System 0.1 0.4 0.5 Subtotal 0. 2.9 3.3 D. Study & Training 1. Road Construction Industry 0.1 0.2 0.3 2. Staff Training 0.1 0.6 0,7 Subtotal 0.2 0.8 1.0 Base Cost 217.3 146.1 363.4 Contingencies 1. Physical j 21.7 14.2 35.9 2. Price 89.5 15.4 104.9 Subtotal 111.2 2 140.8 Total 328.5 175.7 504.2 Land acquisition 24.6 0.0 24.6 Total Project Cost A 353.1 175.7 528.8 Financing Plan Provincial government 304.4 35.7 340.1 Central government 48.7 - 48.7 IBRD - 140.0 140.0 Total Financing 353.1 175.7 528.1 /a Ten percent of Items A and Bi. b Identifiable taxes and duties are about Y 106.4 million ($18.5 million). Taxes and duties would not be financed from the proceeds of the loan. - 7 - Schedule B Page 1 CHIA FUJIAN PROVINCIAL HIGHWAY PROJECT Procurement Methods and Disbursements ($ million) Procurement method Total ICB LCB Other NBF project cost Highway-civil works 412.7 - - 24.6/a 437.3 (114.9) (114.9) Highway-E&M supply 9.1 - - - 9.1 & installation (7.2) (7.2) Road Network - 40.3 - - 40.3 Improvement Program (10.0) (10.0) Equipment 2.9 - 1.3/b - 4.2 (2.7) (1.0) (3.7) Consultancies/Training /c Construction Supervision - - 11.9 - 11.9 (3.8) (3.8) Road Constr. Ind. Study - - 0.4 - 0.4 (0.1) (0.1) Staff Training - - 1.0 - 1.0 (0.3) (0.3) Land acquisition & - - - 24.6 24.6 resettlement Tgota 424.7 40.3 14.6 49.2 528.8 (124.8) (10.0) (5.2) (140.0) NBF: Not Bank-Financed. /a A 2.7 km soft-soil treatment testing section of the highway, a Class 1 access highway to Xiamen (6.2 km) and service facilities along the high- way. Lb Local and International Shopping. /c Selection of consultants according to the Bank's Guidelines. Notes: (1) Figures in parentheses represent the amounts financed by the Bank. (2) All figures are rounded and include estimated physical and price contingencies but exclude the cost of land acquisition. - 8 - Schedule B Page 2 Disbursements Cateltor Amont Percent ($ million) Worke Highway 101.4 322 of total expenditures B&M Supply & - .tallation 5.2 100% of foreign and 75% of local expenditures Road Network Improvement Program 7.2 25% of total expenditures Equipment 2.9 1002 of foreign expenditures, 100% of local expenditures (ex-factory cost) and 75% of local expenditures for other items procured locally Consultants/Training 3.3 100% of total expenditures Unallocated 20.0 T-otal 140.0 Estimated Disbursements: Bank Group FY 1994 129 1996 199 1998 1999 2000 -------------------- ($ million) ------------------- Annual 18 9 15 20 30 34 14 Cumulative 18 27 42 62 92 126 140 -9- Schedule C CH1IA FUJIAN PROVINCIAL HIGHWAY PROJECT Timetabl, of Key Project Processing Evente (a) Time taken to preparet 24 months (b) Prepared bys Fujian Provincial Transport Department (c) First Bank Group Missiont November 1S91 (d) Appraisal mission departure: June 27, 1993 (e) D,Ate of negotiations: November 1, 1993 (f) Planned date of effectiveness: February 28, 1994 (g) List of relevant PCRs and PPARst PCR 10749, June 29, 1992, Highway Proj- ect The report was prepared by Otto Raggambi (Senior Highway Engineer, Task Mana- ger) with the assistance of Rita Pasi (Financial Analyst) and Ban-Kang Yen (Research Assistant). Peer reviewers for the project were Carlos Alvarez (Transport Engineer), Jean-Marie H. Lantran (Senior Constructi-. Industry Specialist) and Renato Schulz (Senior Economist). The Division Chief is Paul Stott (acting) and the Department Director is Shahid Javed Burki. Schedule D Page 1 of 3 STATUS OF BANK GROUP OPERATIONS IN THE PEOPLE'S REPUBLIC OF CHINA A. STATEMENT OF BANK LOANS AND IDA CREDITS (As of September 30, 1993) Loan/ Amount (US$ million) Credit Bor- (net of cancellations) Number FY rower Purpose Bank IDA Undisb.(a) 19 Loans and 36 credits have been fully disbursed. 1660.4 2097.6 Of which SECAL: 2967/1932 88 PRC Rural Sector Adj. 200.0 93.2 - 2501 85 PRC Changcun (Luan) Coat Mining 79.5 * 15.4 2540 85 PRC Railway II 220.0 - 13.4 1664 86 PRC Technical Cooperation Credit II - 20.0 8.0 2678/1680 86 PRC Third Railway 160.0 (70.0)(b) 54.3 2689 86 PRC Tianjin Port 130.0 - 25.3 2706 86 PRC Beitungang Thermal Power 225.0 - 6.6 2707 86 PRC Yantan Hydroelectric 52.0 * 0.5 2723/1713 86 PRC Rural Health & Preventive Med. 15.0 65.0 31.3 2775 87 PRC Shuikou Hydroelec`ric 140.0 - 0.0 2783/1763 87 PRC Industrial Credit IV (CIB IV) 250.0 (50.0)(b) 0.5 2784 87 PRC Shanghai Machine Tools 100.0 - 7.2 1764 87 PRC Xinjiang Agricultural Dev. - 70.0 3.0 2794/1779 87 PRC Shanghai Sewerage 45.0 100.0 37.5 2811/1792 87 PRC Beijing-Tianjin-Tanggu Expressway 25.0 125.0 21.1 2812/1793 87 PRC Gansu Provincial Dev. 20.0 150.5 45.1 1835 87 PRC Planning Support & Special Studies Z 0.7 7.9 2838 87 PRC Fertilizer Rationalization 97.4 * 3.5 2852 87 PRC Wujing Thermal Power 190.0 - 25.0 1871 88 PRC Rural Credit III - 170.0 2.0 2877/1845 88 PRC Huangpu Port 63.0 (25.0)(b) 40.8 2907/1875 88 PRC Dalian Port 71.0 (25.0)(b) 5.1 1885 88 PRC Northern Irrigation - 103.0 23.9 2924/1887 88 PRC Coastal Lands Dev. 40.0 (60.0)(b) 4.7 1908 88 PRC Teacher Training - 50.0 0.1 2943 88 PRC Pharmaceuticals 127.0 - 4.9 2951/1917 88 PRC Sichuan Highway 75.0 (50.0)(b) 54.2 2952 88 PRC Shaanxi Highway 50.0 - 1.7 1918 88 PRC Daxing An Ling Forestry - 56.2 3.1 2955 88 PRC 8eitungang II 165.0 - 27.6 2958 88 PRC Phosphate Dev. 62.7 * 18.0 2968 88 PRC Railway IV 200.0 - 61.2 1984 89 PRC Jiangxi Provincial Highway - 61.0 13.4 1997 89 PRC Shaanxi Agricultural Dev. - 106.0 40.3 2006 89 PRC Textbook Development - 57.0 2.1 2009 89 PRC Integrated Reg. Health - 52.0 21.8 3006 89 PRC Ningbo & Shanghai Ports 76.4 * 22.5 3007 89 PRC Xiamen Port 36.0 - 16.8 3022 89 PRC Tianjin Light Industry 154.0 94.3 3060/2014 89 PRC Inner Mongolia Railway 70.0 (80.0)(b) 30.7 2097 89 PRC Shandong Agriculture Dev. - 109.0 9.7 3066 89 PRC Hubei Phosphate 137.0 * 107.1 3073/2025 89 PRC Shandong Prov. Highway 60.0 (50.0)(b) 26.4 3075 89 PRC Fifth Industrial Credit 300.0 - 144.6 2097 90 PRC Jiangxi Agric. Dev. * 60.0 22.2 2114 90 PRC Vocational & Tech. Educ. * 50.0 16.3 2145 90 PRC National Afforestation - 300.0 165.0 2159 90 PRC Hebei Agricultural Dev. 150.0 74.1 2172 91 PRC Mid-Yangtze Agricultural Dev. - 64.0 27.1 3265/2182 91 PRC Rural Credit IV 75.0 200.0 89.0 3274/2186 91 PRC Rural Indust Tech ('PARK) 50.0 64.3 79.2 3286/2201 91 PRC Medium-Sized Cities Dev. 79.4 89.0 94.1 - 11 - Schedule 0 Page 2 of 3 Loan/ Amount (US$ million) Credit Bor* (net of cancellations) Number FY rower Purpose Bank IDA Undisb.(a) 3288 91 PRC Shanghai Industrial Dev. 150.0 147.9 2210 91 PRC Key Studies Development - 131.2 72.2 2219 91 PRC Liaoning Urban Infrastructure - 77.8 21.3 3316/2226 91 PRC Jiangsu Provt. Transport 100.0 (53.6)(b) 75.9 2242 91 PRC Henan Agricut. Dev. - 110.0 81.6 3337/2256 91 PRC Irrig. Agricut. Intensif. 147.1 187.9 196.0 3387 92 PRC Ertan Hydroelectric 380.0 115.3 2294 92 PRC Tarim Basin - 125.0 96.1 2296 52 PRC Shanghai Metro Transport - 60.0 42.9 3406 92 PRC Railways V 330.0 - 263.2 3412/2305 92 PRC Daguangba Multipurpose 30.0 37.0 47.0 2307 92 PRC Guangdong ADP - 162.0 138.0 3415/2312 92 PRC Beijing Environment 45.0 80.0 109.7 2317 92 PRC Infectious and Endemic Disease Cont * 129.6 107.3 3433 92 PRC Yanshi Thermal Power 180.0 - 135.5 2336 92 PRC Rural Water supply and Sanitation - 110.0 100.7 2339 92 PRC Educ. Development in Poor Provs. * 130.0 102.9 3443 92 PRC Regional Cement Industry 82.7 - 81.6 3462 92 PRC Zouxian Thermal Power 310.0 - 287.4 3471 92 PRC Zhejiang Provincial Highway 220.0 - 178.8 2387 92 PRC Tianjin Urban DeVt. & envir. - 100.0 95.7 2391 92 PRC Ship Waste Disposal - 15.0 15.6 2411 93 PRC Sichuan Agricultural Devt. * 147.0 123.0 3515 93 PRC Shuikou Hydroelectric II 100.0 * 90.2 2423 93 PRC Financial Sector TA * 60.0 59.5 3530 93 PRC Guangdong Provincial Transport 240.0 - 226.1 3531 93 PRC Henan Provincial Transport 120.0 - 101.4 2447 93 PRC Ref. Inst't an. Preinvest. - 50.0 46.2 3552 93 PRC Shanghai Port Rest. and Devt. 150.0 - 150.0 2457 93 PRC Changchun Water Supply & Env. - 120.0 122.4 2462 93 PRC Agriculture Support Services - 115.0 113.0 3560/2463 93 PRC Taihu Basin Flood Control 100.0 100.0 182.7 2471 93 PRC Effective Teaching Services (c) - 100.0 101.9 3572 93 PRC Tianjin Industry II (c) 150.0 150.0 3582 93 PRC South Jiangsu Envir. Prot. (c) 250.0 - 250.0 2475 93 PRC Zhejiang Multicities Devt. (c) * 110.0 112.1 3581 93 PRC Railway VI 420.0 - 420.0 3606 93 PRC Tianhuangping Hydroelectric (c) 300.0 300.0 3624/2518 93 PRC Grain Distribution (c) 325.0 165.0 493.1 2522 93 PRC Envirormental Tech. Assist. (c) 50.0 49.9 2539 94 PRC Rural Health Workers Devt. Cc) - 110.0 112.1 Total 9430.6 6972.8 7365.1 of which has been repaid 735.5 4.0 Total now held by Bank and IDA 8695.1 6968.8 Amount sold: Of which repaid - * Total Undisbursed 4670.3 2694.8 7365.1 (a) As credits are denominated in SORs (since IDA Replenishment VI), undisbursed SDR credit balances are converted to dollars at the current exchange rate between the dollar and the SR. In some cases, therefore, the undisbursed balance indicates a dollar amount greater than the original principal credit amount expressed in dollars. (b) Credit fully disbursed. Cc) Not yet effective. a 12 - Schedule 0 Page 3 of 3 B. STATEMENT OF IFC INVESTMENTS (As of September 30, 1993) Invest- Type of Loan Equity Total ment No. FY Borrower Business ---- (US$ Million) .*..... 813/2178 85/91 Guangzhou and Peugeot Automobile 15.0 4.6 19.6 974 88 China Investment Co. Investment 3.0 0.0 3.0 1020 88/92 Shenzhen China Bicycle 17.5 2.5 20.0 Bicycles Co. Ltd. Manufacture 1066 89 Crown Electronics Electronics 15.0 * 15.0 1119 89 Shenzhen Chronar Solar Solar (a) 2.0 1.0 3.0 Energy Energy 3423 93 Shenzhen PCCP Manufacturing 4.0 1.0 5.0 3150 93 Yantai Cement Cement 28.7 2.0 30.7 Not yet signed 93 JV Comnercial Bank Banking 7.5 7.5 Total Gross Comitments 85.2 18.6 103.8 Less cancellations, terminations 2.0 2.0 repayment and sales Total Coamitments now Held by IFC 83.2 18.6 101.8 Total Undisbursed 28.7 5.8 34.5 (a) Loan subsequently cancel led. 9/30/93 EA2DR MAP SECTION � .., кrri �к� �с 'о '- - - т ev яи �ат ,га �ю " " ur гт � RUSSIAN FEDERATION KAZAKHSTAN - "'8'�т� � � � t � мм:�`1г��..°°" , г � - �, : : � �: г�'��� � �;.ъг. ,® иw,иваатак ` � ® £ ® .._, _-, гюгои ® 1 �.иа �ZBEKISTAN � MONGOLIA - , s: �-�� ата � �.� ` ; �гииz® � - юw•�•� �'4°`�.а t `°°°д�'" , _. п.. сьа�sд.�и�®- "���fi � KYRGYZ �в и�мw .- зл_ = _.. REPUBLIC � � � , дй� - b '�""`"°"'"� "� � . � . sме��. " �4 Sea oF JAPAIV Ti41lK1STAN 1 � ' " , � � . 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'^ :� Li:i.n 1("J \^>1%�р<: � . ' MИORHIGHWAYS: , т' :' w° , д - � > �-�-.. т.,�. сомг�еТео � "` "'�`q"' ® Г - ��. F'..•� гаггsагйt :rww.,�м ® ии�еасоиsпгиспои/ап+r�vечелкиаи(�99t-i99sг у� , г�"и"A ; ® -"'`^-�� ® В - .кс'вг;и�' � 9ее�?246д7 С � т ® 9THHVEYEARPUй(1996-200� � °т smмj -'1iн1V^vx; � ,у ,,,--,_ � мr а, , ®�о�°° F �� т ms р{qryNEO BEYOND 2000 � • а . � ,� ;._-" -' � ��т�го 9hьdwn � маок еоатs g з' `� ,® � ;%? �д �41оиt3 Kt3NC� Skк. а ..< `А . д� мйG;O,FQRT. иrнsгигоцпсоаwооss О гкоvп+сеиятаis � �=' -! � � `� У1ЕТ NAM , т ,g�� . FM'ltUPPJtдES иrнт �оиvпе�л сомwогжs ® иапоиа сипаиs �� •£. ,'°, --�-- гzovwceвоUиоатЕS �,-g°�`���LAO РЕОРLЕг$ ^"�_ г , . т • : � � r-, -- м�мивh� п _;,, „п дт , п„ � ' ' DEM. REP. ��° � наг = ° ,�.�•--� гигаиwгоиаваииоаwЕS THAILANO ,,;, r' ". , г t , г г г . ,д"ns . д sgm ` ' . юч - ' "ьцб. -.во' .' � wь , . , уу .. SEPIFMBER 1993 � l긷： \-/ 亂 SEPTEMBER 1 993