Argentina - Road Maintenance and Rehabilitation Sector Project

Z[-A J&//-///< D_et oft The World Bank FOR OMCLAL USE ONLY Rae"t No. P-5952-AR NEKORAUDIM AND kTrOl OF TRE PRESIDENT OF THE DINERNh3lIAL BANK FO RECOASTCTON A DEELOEN TO TUE EXECUTIVE DIRECTORS ON A PROPOSED LOA IN A AmOT EQuVALENT TO US$340 HIDIION TO THE ARGETN REPUBUC FOR A ROAD A NCE AND REHAELIT I SECTOR PROJECT KAY 10, 1993 Ii :1-a _ F i T h . Y A -j Ur TT I,-, i l A TI, -~~~~~ - p ~~~~1ZNFYp Th$is document has a restricted distribution ad nmy be used by recipiens only ih the perfomance of their ofici duties Its Contens MSY not othewi be dicose witou World ank authizaton.  CURRENCY EOUIVJLENTS Currency Unit: Peso (AS) AS 1.00 - USS 1.00 WEIGHTS AND MEASURES Metric System FISCAL YEAR January 1 - December 31 ABBREVIATIONS AND ACRONYMS B/C - Benefit Cost Ratio DNV - National Highway Directorate DPV - Provincial Highway Directorate EA - Environmental Assessment REN - Expenditure Budgeting Model ERR - Internal Rate of Return 3DM - Highway Design and Maintenance Standards Model ISIT - Institute of Advanced Studies in Transport Engineering PCU - Project Coordination Unit PDP - Provincial Development Project SOP - Sub-Secretariat of Public Works  FOR OFCIL USE ONLY ARGENTINA ROAD MAIXTENANCE AND RENHABXLITATION SECTOR PROJECT LOAN AND PROJECT SUMMARY Borrower: The Argentine Republic. Executina Agencv: National Highway Directorate (DNV). Loan Amounts US$340.0 million equivalent. Terms: Repayment in 15 years, including a grace period of 5 years at the Bank's standard variable interest rate. Financing Plan: IBRD US$340.0 million Government 416.0 million Total US$756.0 million Economic Return: Paved roads: average ERR=30%. Unpaved roads: average B/C-2.5 Cement concrete roads: average ERR=46% Staff Am,raisal Rewoort: Report No. 11413-AR Mags: 1. IBRD 24715, Road Maintenance and Rehabilitation Sector Project 2. IBRD 24716, Region I 3. IBRD 24717, Region II 4. IBRD 24718, Region III 5. IBRD 24719, Region IV 6. IBRD 24720, Region V 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 REOOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN OF US$340 MILLION TO THE ARGENTINE REPUBLIC FOR A ROAD MAINTENANCE AND REHABILITATION SECTOR PROJECT 1. I submit for your approval the following memorandum and recommendation on a proposed loan to the Republic of Argentina for the equivalent of US$340 million to help finance a road maintenance and rehabilitation sector project. The loan would be at the Bank's standard variable interest rate, with a maturity of 15 years, including a grace period of 5 years. 2. Background. The Argentine Government has made the Reform of the State its priority to foster the necessary increases in public sector effi7iency. An overall reduction in public sector size and expenditure is beina achieved through privatization, deregulation, and decentralization. In the Transport Sector, major results have been obtained in: (a) privatizing the largest national airline; (b) concessioning five major freight rail branches of a total length of 20,700 km, or around 60% of the rail network; (c) concessioning all rail commuter services in Buenos Aires, including the subway; (d) concessioning an interurban passenger service of about 400 km; (e) involving the private sector, through concessions financed by toll collection, in managing the maintenance and rehabilitation of about 25% of the national road network (Map 24715); and (f) transferring to local governments a number of ports previously manag-d by a federal agency. These efforts have been successful in railways (supporting a tranche release of US$75 million equivalent of Loan 3291-AR, Public Enterprise Reform Adjustment Loan) and in roads and ports. Moreover, efforts continue to: (a) privatize all possible railway activities and rationalize or close the rest; (b) privatize the national maritime company; (c) reform the highway subsector (described below); and (d) decentralize the port subsector. 3. Road transport represents the dominant mode of internal transport (69% of interurban freight, 83% of interurban passengers, 100% of urban freight, and 88% of urban passengers). The basic national road network is in place, but its condition generally is unsatisfactory with rapid deterioration widespread (currently, almost two-thirds of the network is in poor to bad condition). Road maintenance has the highest priority to arrest further system deterioration and stem economic losses for the country. In April/July 1992, major flooding occurred in the northeastern part of the country, further affecting the condition of provincial and national roads in that area. Institutionally, there is widespread agreement that existing duplication of responsibilities for similar highway activities between National and Provincial agencies, which manage separate networks, is highly inefficient, and leads to inadequate planning, sub-optimal use of resources and installed capacity, inferior prod*action, and lack of coordination. The Bank's transport sector work (10/88, ARGENTINA: Transport Sector Public Enterprises) identified this problem and made recommendations to address this issue. The Government has incorporated most of the recommendations in its current sector policies as reflected in Decree 616/92, issued on 04/10/92. This decree establishes that the role of the National Highway Directorate (DNV) is now one of technical leadership, national road planning, allocation and auditing of financial resources provided to the Provincial Highway Directorates (DPVs), technical and finar.cial supervision of the concessions, road research, environmental analysis, standardization of road maintenance and construction, and training and transfer of technology to DPVs. The jurisdiction of the national network remains with DNV, but the execution of road works and/or related activities will be delegated to the DPVs. Since in both levels of government the road agencies perform and manage similar functions, the potential increase in cost-effectiveness through delegation of work and responsibility is high. Another important institutional deficiency in the highway subsector is the lack of systematic preparation and analysis of the environmental impact of road works that good help define possible mitigation remedies. Finally, the current intense application of toll charges raises the question of the suitability of the road-user charge system.  4. Rationale fgor Bank Involvlment. The proposed project is consistent with the Bank's overall strategy in Argentina of promoting efficiency in the public sector and reducing the fiscal deficit, which was reviewed by the Board during the FY93 Country Assistance Strategy presentation, in association with the approval of the Financial Sector Adjustment Loan (Loan No. 3558-AR, Report P-5862-AR) of February 16, 1993. It would also enable the Bank to strengthen the Government's commitment to: (a) the maintenance of road infrastructure, which has been neglected in recent years as a result of the country's economic crisisl and (b) the major institutional reforms in the road sector, which the Government has now launched. The Dank's presence in the sector would bring a beneficial catalytic effect in precipitating policy decisions and institutional improvements, which without Bank participation may be harder to achieve. In particular, the proposed project links well with the Provincial Development Project (PDP) (Loan 3280-AR) through the strengthening of DPV planning and management capabilities through an intensive Technical Assistance and Training Program. This program will be managed by DNV, as the lead agency in the sector. It would complement PDP because it finances works on national roads that are nei.:her included in the provincial networks nor eligible for PDP financing. It would also complement the Flood Rehabilitation Project (Loan 3521-AR) by providing funds to repair damage to national roads and bridge. attributable to the heavy flooding of April/July 1992. (The above-mentioned Loan 3521-AR provides financing for damages due to the same event, but only for repairs to provincial infrastructure.). Moreover, the proposed project would help support and monitor the complex transition program required to implement the agreed major reforms in the road sector. S. Protect gbiectives. The proposed project would: (a) support Government efforts to downsize the central Government and decentralize implementation of public sector investments; (b) ensure adequate maintenance and/or rehabilitation of the present National Road network for those sections that have not been concessioned; (c) strengthen DNV capacity to supervise road maintenance executed by the concessionaires; (d) support the progressive implementation of the institutional reform (para. 3) through (i) physical reconditioning of the road sections for which maintenance and operational responsibility may be delegated to the provinces (thus reducing the initial workload of the provinces), (ii) strengthening provincial capability to manage road activities through a broad Technical Assistance program and transfer of technology among highway agencies, and (iii) developing an appropriate road planning and financing mechanism; (e) assist in achieving the optimal combination of provincialization, privatization, and nationally supported operations of those road sections of national interest; (f) support the creation in DNV of an environmental unit with trained staff to prepare systematically and monitor EA when the works warrant, and to provide guidance to the DPVs; and (g) support transport studies of national interest. 6. Proiect Description. The proposed project, within a sectoral context, would include a four-year time-slice (mid-1993 to mid-1997) of DNV's routine and periodic maintenance program, as well as road reconstruction needs (91% of the program cost) (regional Maps 24716 through 24720). It also includes emergency works to repair damage to national roads caused by the recent floods in early 1992 (3.5% of project cost) (Map 24715). The proposed project would also include a technical assistance and training sub-component aimed at: (a) strengthening the capacity of the Sub- Secretariat of Public Works (SOP) in establishing policy and goals in the road sector; (b) strengthening DNV, and particularly its five regional offices (Map 24715), for the new roles they have to play; (c) improving the capability of DPVs to plan, to manage and execute roadwork properly; (d) reviewing the current road- user charge system; and (e) reinforcing DNV's capabilities to carry out national programs for traffic safety, control of vehicle weights and dimensions, and other broad-gauged activities that are too comprehensive for provincial oversight. The proposed project would develop maintenance management and planning to permit quantification of the costs of alternative technology procedures or funding decisions. It will also allow the executing agencies to select the best-suited maintenance strategy for Argentina's local conditions given funding constraints. It would expand the use of the Bank-developed HDM-III/IBM models to DNV and its  -3- regions as well as to all provinces, which would greatly increase the capability to program the optimum use of scarce resources. The project would also support the preparation of an Environmental Assessment Mar.ual to be systematically used in DNV and disseminated to DPVs. The proposed project would, in addition, provide for acquisition of office, communication, and specialized equipment for traffic counting, vehicle weight control and rating road and bridge conditions, to enable DNV to implement the results of the technical assistance programs. The project will finance the consultant services required for the technical assistance component and for the engineering of the proposed project. A set of Project Performance Targets and/or Actions were developed and agreed at appraisal to facilitate project monitoring during supervision. 7. The total project cost is estimated at US$756.0 million equivalent (including taxes) with a foreign exchange cost of US$286.5 million. The proposed Bank loan of US$340.0 million, which is equivalent to the fc.eign exchange component plus US$53.5 million of local cost, represents 52.9% of the project cost (net of taxes) and 45% of the total project cost. A breakdown of costs and the 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 evente and the status of Bank Group operations in Argentina are given in Schedules C and D, respectively. The Staff Appraisal Report No. 11413-AR, dated May 10, 1993, is attached. 8. A maximum amount of US$10.0 million (3% of the total loan) would be used for retroactive financing of expenditures made after August 31, 1992 (approximately one year before expected loan signature) for the emergency and urgently needed maintenance works, as well as for consultant services for technical assistance components. Procurement of contracts eligible for retroactive financing will be carried out in accordance with Bank guidelines. 9. Project ImDlementation. The executing agency will be DNV, which has recently experienced a major streamlining as a consequence of the new role it has to play in the highway sector (para. 3). To strengthen DNV and to raise staff morale, several decisions have recently been taken by the Government (substantial salary increases, clear definition of DNV's role, appointment of a capable general manager, significant increases in DNV budgetary allocations, confirmation of the support to the proposed project, and advertisement of a large number of road works), which are helping to improve the situation. At appraisal, an in-depth analysis was carried out concerning the capacity of DNV to execute the proposed project. The conclusion was that DNV can carry out the project with suitable support from consultants and the DPVs. This support is provided under the project. The day-to-day coordination and monitoring of the project will be done by a Project Coordination Unit (PCU) that has been created for this purpose. The PCU will be composed of about 10 professionals (4 have already been appointed). The operation of the PCU will be financed under the technical assistance component of the proposed project. Project selection, within the sectoral context of the proposed project, will be based on economic and environmental eligibility criteria agreed with the Government. 10. Proiect Sustainabilitv. The lengthy and in-depth preparation of the proposed project, the commitment of the country to implement institutional reforms, the recognition of the critical importance of road maintenance in the national economy, and the carefully structured technical assistance and training programs, supports the sustainability of the project. 11. Lessons Learned from Previous Bank Involvement. The results of transport projects in Argentina have been mixed. There have been some important achievements, mainly in the highway sector, but with limited success with regard to broader policy issues, such as pricing and intermodal planning, especially in railway projects. However, major improvements have recently been achieved within the framework of the ongoing reform of the state program. In most cases the projects have experienced delays, and, in some instances cost overruns and lack of local counterpart funds (particularly during periods of high inflation) have been a common occurrance in  4 several of the projects. These matters have been carefully taken into consideration and addressed during the extensive preparation of the proposed project. 12. Acreed Actions. At appraisal, agreements were reached with the Government, which were confirmed at negotiations, on the following: (a) a Government transport policy letter; (b) action plans for two provinces to permit monitoring of implementation of the launched reform program in the highway sector; (c) an outline of the Environmental Assessment (EA) Manual for road works and its completion as condition of Loan effectiveness; (d) a system to ensure enough funds will be allocated In the future for road maintenance; (e) conducting a Road User Charges Actualization Study and implementing follow-up actions recommended; (f) that the Government will provide the required local counterpart funds during project execution on schedule; (g) tnat the Bank will have an opportunity for comments before approving DNV's annual road investment program; (h) execution of a study to review the current classification of highways as provincial and national, and the vitart of the implementation of 3ts recommendations by July 31, 1995; and (i) a set of Project Performance Targets. 13. Environmental AsPects. The nature of the proposed civil works project-- mostly rehabilitation and maintenance of roads on existing alignments and in already developed corridors-- is such that environmental impact is not a major issue. As part of the Technical Assistance Program, a manual is under preparation, and its completion is a condition of Loan effectiveness (para. 12). The manual will provide guidance to highway engineers on incorporating environmental considerations in the plinning of roads and execution of road works. 14. Project Benefits. Avoidance of major road reconstruction costs and cost savings to road users will be the major quantifiable benefits; however, equally important, significant benefits also derive from the institutional reform program, although they are not easy to quantify. In particular, significant benefits are expected from the long-term effects of better EA of road works. The former, as is normally the case with maintenance works, would amply justify the proposed project. Average economic returns are as follows: for asphaltic paved roads the average ERR is about 30%; for unpaved roads the average B/C ratio, at an opportunity cost of capital of 12%, is 2.5; and for the repair of cement concrete roads the average ERR resulted in a high 46%. For mathematical reasons, in the economic evaluation of some works on unpaved roads, the ERR gave either multiple or no solution, and thus B/C was used as the economic index. 15. Risks. All project components involve proven technology. There is enough experience in the country with this kind of work, ard therefore t zhnical risks of the proposed project are minimal. The most important risks relate to the capacity of DNV to execute works and contracts, the sustainability of the institutional changes and the availability of counterpart funds, which are, however, mitigated by the project design and planned supervision. Another risk that exists involves the National and Provincial Governments' willingness to change their institutional interrelationships in the subsector and to dedicate a higher percentage of resources to support maintenance, in the face of competing demands and political pressure to defer expenditures on cost-reducing, preventive measures in favor of politically more attractive investments. However, given the degree of commitment by the Government, as demonstrated by recent decisions, this risk is considered acceptable. 16. 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, DC may 10, 1993  -.5- schedule A Page 1 of 2 AROIEXTINA ROAD MAINTERANCE AND REHABILITATION SEC50R PROJECT Estimatee. Project Costs and Finanicin Plan (in US$ Million) I. Proiect Cost Beuimates 1/ Local Foreign Total Foreign cost Cost Cost Cost as % of Item Payed Roados Reconstruction 23.4 19.1 42.5 45 Periodic Maintenance Concrete Pavement Repair 1.8 1.4 3.2 45 Asphalt Overlays 45.4 37.1 82.5 45 Bituminous Surface Treatments 24.8 20.3 45.1 45 Slurry Seals 44.2 36.2 80.4 45 Sealing 37.4 30.6 68.0 45 Pavement Striping 5.6 8.4 14.0 60 Routine Maintenance 66.0 54.0 120.0 4S Unpaved Roads: Perlodic Maintenance Regravelling 5.5 4.5 10.0 45 Routine Maintenance 22.0 18.0 40.0 45 Flood Xeraencn Works 11.0 9.0 20.0 45 Cosultina Services: Detailed Engineering 4.4 0.5 4.9 10 Supervision 10.1 1.1 11.2 10 Technical Assistance, Studies & Training 8.6 5.0 13.6 37 ElmimeRt Office & Communication 0.0 0.6 0.6 95 Vehicle Weight Control 0.0 0.3 0.3 95 Traffic Counting 0.0 0.4 0.4 95 Road Condition Rating 0.1 2 _ 2.3 95 Base Cost 310.3 248.7 559.0 45 Physical Contingencies 18.7 15.3 34.0 Price Contingencies U 27.5 22.5 50.0 Taxes 113.0 0.0 113.0 Total Cost 469.5 286.5 756.0 38 }j Based on 6% local cost increase during 1993 and 4% p.a. thereafter, and for foreign exchange 4% p.a. throughout.  - 6 - Schedul -^ Page 2 of ^ II. Pinancing Plans Local Foreign Total % of Total Government 416.0 0.0 416.0 55 World Bank 53.5 286.5 340.0 45 Total 469.5 5 756.0 la  -7- Schedule B Page 1 of 2 ARGENTINA ROAD MAINTENANCE AND REHABILITATION SECTOR PROJECT Procurement Method and Disbursements (in US$ Million) -Procurement Method------------- (ICB) (LCB) Other NBF 2_1 Total ELwnditure CatecoXy 1 1. Civil Works Reconstruction 157.0 26.0 -- -- 183.0 Repairs & Overlays (73.8) (12.2) -- -- (86.0) Maintenance: Periodic 149.1 133.9 -- 14.0 3/ 297.0 (70.0) (63.0) -- (0.0) (133.0) Routine -- 176.0 31.0 4/ -- 207.0 -- (62.0) (11.0) -- (73.0) Flood Emergency Works-- 28.5 -- -- 28.5 -- (13.2) -- -- (13.2) 2. Consulting Services-- -- 36.0 -- 36.0 -- -- (31.0) -- (31.0) 3. EauinMent 2.4 0.5 1.6s5 -- 4.5 (2.0) (0.4) (1.4) __ (3.8) TOTAL 308.5 364.9 68.6 14.0 756.0 (145.8) (150.8) (43-4) (0.0) (340.0) 1/ Amounts in parentheses show allocations from loan proceeds. 2/ Not Bank Financed. 3/ Paid by an ongoing pavement striping contract. 4/ Based on the estimate that about 10% of paved road, and 30% of unpaved road routine maintenance would be executed by the provinces or municipalities through negotiated accords. 5/ LIS or direct negotiations. Allocation of Loan Proceeds: The proposed disbursement categories, the allocation of loan funds, and the disbursement percentages are as follows:  Schedule B Page 2 of 2 Category Amount of Loan % EIxenditure to be financed (in US$) EM As 1. Civil Works 267,000,000 (a) 47% of total expenditures except routine maintenance contracts; (b) the following, diminishing scale for total expenditures for routine maintenance contract8: - 60% until US$45 million has been disbursed, then - 40% until a cumulative US$63 million has been disbursed; and - 20% until a cumulative US$73 million has been disbursed. - 0 thereafter. 2. Consultants, training 31,000,000 100%, excluding taxes detailed engineering, supervision of works, technical assistance, studies, project monitoring. 3. Equipment 4,000,000 100% of foreign expenditures and 85% local expenditures (ex-factory 4. Unallocated 38,000,000 cost) and 85% of local ----------- expenditures for other items TOTAL 340,000,000 procured locally. Estimated Bank Disbursements (in US$ million) (Bank Fiscal Years) 94 95 96 97 98 99 00 Annual 88.9 131.1 74.9 23.8 14.3 6.0 1.0 Cumulative 88.9 220.0 294.9 318.7 333.0 339.0 340.0  Schedule C ARGENTINA ROAD MAINTENANCE AMD REHABILITATION SECTOR PROJECT Timetable of Key Proiect Processing Events (a) Time taken to prepares 3 years (b) Prepared by: DNV/ISIT (c) First Bank missions August 1989 (d) Appraisal mission departure: September 1992 (e) Negotiations: April 1993 (f) Planned date of effectiveness: Auqust 1993 (g) List of relevant PCRs Loan 1384-AR, June 30, 1989 Loan 2296-AR, under preparation.  - 10 - Schedule D Pace 1 of 2 ARGENTINA ROAD MAINTENANCE AND REHABILITATION SECTOR PROJECT The Status of Bank Group Operations in Araentina A. Statement of Bank Loans and Credits las of March 31. 1993) USS Million Amounts (less cancellation) Loan Fiscal Number Year Borrower Purpose Bank Undisbursed 34 Loans fully disbursed 3,560.6 0.0 2592 1985 YPF Gas Utilization & T.A. 180.0 15.0 2641 1986 Argentina Water Supply 60.0 30.7 2751 1987 Argentina Power Engineering 14.0 0.2 2854 1987 Argentina Power Distribution 276.0 162.5 2920 1988 Argentina Municipal Development 120.0 77.6 2970 1988 BNA Agriculture Credit 106.5 1.0 2984 1989 Argentina Social Sector 28.0 10.5 3015 1989 Argentina Tax Admin. T.A. 6.5 1.0 3280 1991 Argentina Provincial Development 200.0 184.7 3281 1991 Argentina Water Supply 100.0 99.0 3292 1991 Argentina PEREL 23.0 12.6 3297 1991 Argentina Agricultural Services 33.5 26.4 3362 1991 Argentina Pub. Sectr Reform TA 23.0 19.3 3394 1992 Argentina Pub. Sectr Reform (PSRL) 325.0 0.0 3416 1992 YPF S. A. Hydrocarbon Engr. 28.0 21.8 3460 1992 Argentina Tax Administration II 20.0 12.2 3520 1993 Argentina Yacyreta It 300.0 209.5 3521 1993 Argentina Flood Rehabilitation 170.0 170.0 3555 1993 Argentina DDSR Support 450.0 0.0 3556 1993 Argentina Pub Enterprise Ref II 300.0 100.0 3558 1993 Argentina Financial Sector Adj. 400.0 194.8 TOTAL 6,724.1 of which has been repaid 1,859.2 TOTAL NOW OUTSTANDING 4,864.9 AMOUNT SOLD 12.8 of which has been repaid 12.8 TOTAL NOW HELD BY BANK 4,852.1 TOTAL UNDISBURSED 1,348.8  - tl- Schedule D Page 2 of 2 B. Statement of IFC Investments in US$ millions (as of M4arch 31, 1993) = nidm QmCommbneer Held Heldby Undhbuned SYew po al- by PorMa- q- br * Ceuuwd 0E1 TWOe of SEla tgaj Dg To IFOWC _ dldM_ 100 &. 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PeNoqu1qCuV*8SA Chemial & PreSalwm 21.00 4.0 2.A0 46.00 14.3 10.4t 0.40 108l RopeaWSed Capl Maueft - OS - 0.05 O0A - - 1S06618 ndoe Cap_ Muuieb - 200 - 2.0 1.00 - - 106 a, AtnSA Cheica 7.00 1.00 - 6.00 - - - 1tt6180 Banco Rober SA Cap Ma eb 25.00 2.0 - 30.00 17.30 - 2.00 105 GaroyZounwqih enrlM mAnukr 13.00 - - 13.00 6.0 - - 107100 HldtaOn Cnude P*L&NLoOm 60.00 - 27.60 107.60 451 1.10 - 107180 Twminml 0 6A. Port F DcIle 12.5 0.00 0.00 1t250 783 - 1088 AsaCAPSALUnd.o Enegy 12 - - 12.38 2.44 - - 1988 -unge y 13n Food and Food Prowe 40.00 - - 40.00 20n.0 - - 1088 Aroow SAIC Geer Mndlcbl 12.00 - - 12.00 5.00 - - 108am9 Srid.sUnder, SAPIC Engrg 86.63 15.00 60.00 130.63 60.00 60.00- 10som0 BON Oev. FhPaf.. 20.00 - - 20.00 1609 - 2.O 10a0 Baneo Rio CL OaNJ 0ev. Fna 5.00 - - 50.00 44"00 - 187 10892 Chire Chemi*ala&Pc1rhd - om - - .62 61 - 1.o 10 Co. 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