Liberia - Agricultural Development and Technical Assistance Project

RESTR I CTED CIRCULATING COPY Report No. P-1054 TO BE RETURNED TO REPORTS D!SK This report is for official use only by the Bank Group and specifically authorized organizations or persons. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report. INTERNATIONAL DEVELOPMENT ASSOCIATION REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED DEVELOPMENT CREDIT TO THE REPUBLIC OF LIBERIA FOR AN AGRICULTURAL DEVELOPMENT AND TECHNICAL ASSISTANCE PROJECT April 6, 1972  -I  INTERNATIONAL DEVELOPMENT ASSOCIATION REPORT AND REODMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO THE REPUBLIC OF LIBERIA FOR AN AGRICULTURAL DEVELOPMENT AND TECHNICAL ASSISTANCE PROJECT 1. I submit the following report and recommendation on a proposed development credit to The Republic of Liberia for the equivalent of US$1.2 million on standard IDA terms to finance a project to help prepare agricultural projects, strengthen the Ministry of Agriculture and implement a pilot rubber scheme. PART I - INTRODUCTION 2. The Bank has made five loans for projects in Liberia, totalling $20 million and IFC has made one investment of $250,OOO. An IDA credit of $7.2 million for a First Education Project was approved by the Executive Directors on March 28, 1972. The Bank's loans have been for roads, port expansion and power. Details are shown in Annex I. Project execution and loan disbursements have generally met expectations. The Government's decision to add several new functions (radio, television and telecommuni- cations) to the existing power, water and sewerage functions of the Public Utilities Authority appears to conflict with assurances obtained in connection with Loans 684-LBR and 778-LBR, and the Government has been requested to reconsider its decision. The off-shore costs of both power projects have increased in terms of U.S. dollars, partly because of the devaluation of the dollar and partly because of the need for gas turbine units larger than those originally planned. 3. This agriculture project, together with the recent Credit for education represents a shift in Bank Group lending strategy in Liberia. Previous lending had gone almost exclusively into infrastructure and continuous support for investment in infrastructure will be required. At the same time more emphasis will be given to agriculture and educa- tion. This conforms with the reordering of priorities by the Liberian administration that came into office last July. Because of the serious scarcity of local expertise to prepare and implement development projects in these sectors, technical studies and training are important features of the agriculture pnQject now proposed and the previous education project. These projects, which complement each other, should provide the foundation for further Bank Group lending in both sectors.  -2- PART II - THE ECONOMY 4. An economic mission was in Liberia in July and August 1970 and its report (AW-25b), dated June 1, 1971, has been distributed to the Executive Directors. Country data are in Annex II. The next comprehensive economic mission is scheduled for January, 1973. An updating mission visited Liberia last December. Its main conclusions were discussed' in my Report to the Executive Directors on the First Education Cred-it (P-1044), dated March 14., 1972, and there have been no developments since then to change the analysis. The main conclusions were that while Liberia's GNP has grown at an average annual rate of about 4 percent in real terms during the last decade, most of this growth originated in the so-called enclave sectors -- primarily iron ore, but also rubber and logging -- which contribute about 35 percent to GDP and 85 percent to merchandise exports. There has been little growth, however,, in the large underdeveloped rural economy.. The economic situation improved markedly in 1969 and' 1970, because of improved' export prices for iron ore and rubber. However, in 1971, economic activity lost some of its buoyancy, mainly because of adverse external developments. The iron ore~ sector, which accounts for some-70 percent of the v'alue of exports and- 25 percent of GDP, failed. to expand,. largely due to the general economic slowdown in industrial countries, and especially the reduced European demand for iron ore. The rubber industry was even more adversely affected in 1971. Prices received by Liberia rubber producers fell sharply throughout the year. 5. While; the economic situation weakened in 1971, the political outlook chang'ed significantly with a new government administration under President William R. Tolbert, which took office last July. The new administration already has taken encouraging steps to strengthen the econamy and to provide more effective economic leadership. In view of the weak budgetary situation, the Government last December negotiated an. IF standby arrangement for 4 million SDR's. The Government's letter of intent included a commitment to introduce tax reforms, to exercise greater expenditure control, to limit domestic bank credit and not to contract or guarantee any external loans of less than 12 years' maturity. The Government has announced it will prepare a- develop- ment plan for 1974-1978, an important step in view of the fact that so far there has been no systematic development planning and only inadequate sectoral knowledge. Mie Government also is implementing measures adopted late in the previous regime to obtain more revenue from foreign concession- aires. An audit of the iron ore concession agreements led to an increase of $500,000 in government revenues. An audit of one rubber firm produced another $600,000. In addition, the Government is continuing its efforts to renegotiate the iron ore agreements. To help improve enforcement of the terms of the concession agreements, the Government has decided to establish a central administration for coordinating, supervising and formulating policy in relation to them. UNDP has given its initial approval to a request for experts (including a concession lawyer, accountant, auditor, mining and forestry economists) to help the new central administration in its formative stages.  -3- 6. Public capital expenditure in 1971 continued at the level of about $10-12 million for the fourth year in a row, reflecting the shortage of identified and prepared projects and.reduced external assistance. However, given new capacities for greater project identification and preparation, public inVestment is expected to rise to an average of about $17 million annually over the next several years. Disbursement of external capital assistance in the last two years averaged about $7.5 million annually, almost all for infrastructure. There was also an average of about $8 million a year from grants for technical assist- ance, mostly from the United States. These amounts represent a sharp drop from the annual average of $13 million in capital assistance and $12 million in technical assistance from 1965 to 1969. There were no new aid commitments for capital projects in 1971, in contrast to average annual commitments of about $10 million in the previous two years. IBRD loans accounted for about 55 percent of these commitments, with 29 percent from the United States and the remainder from the African Development Bank. External public debt outstanding at the end of 1971 is estimated at $162 million. About 67 percent is owed to the United States (mostly loans from AID), 10 percent to Germany, 9 percent to IBRD and 14 percent to suppliers (mostly Italian). In the past two years debt service payments absorbed about 13 percent of net export earnings (merchandise exports minus net factor payments abroad), and about 24 percent of current government revenues. They are expected to absorb similar proportions in the next several years. 7. The new administration's efforts indicate a substantial improve- ment in Liberia's economic policies. Even so, it will take time before the budgetary constraints on debt servicing capacity, as discussed in the 1971 economic report, will be overcome. In these circumstances, and given the widespread poverty in Liberia (60 to 70 percent of the popu- lation engaged in subsistence agriculture have an average per capita income of less than $50, compared to the GNP per capita of $235), a substantial portion of external assistance should be provided on concession- ary terms and some local expenditure financing is justified. Future US aid is likely to be concentrated in public administration and agriculture. Germany is financing water supply systems and is helping to establish road maintenance stations. Future Bank Group lending planned includes a Bank loan for the Liberian Bank for Industrial Development and Investment, to be presented later this year. A road maintenance and engineering project is under study, and a supplementary power loan is being considered. PART III - AGRICULTURE 8. Much of Liberia's terrain is low and sloping. Tree crops, including rubber, oil palm, coffee, coconut and cocoa, are well suited to the climatic conditions. However, because high rainfall and temperatures cause rapid soil degradation, most of the land is unsuitable for the  continuous cultivation of annual crops. Consequently, rice and other food crops are produced under a system-of shifting cultivation. Valley bottoms and swamps are fertile, however, and with water control and fertilizers, they can be used for continuous cultivation. 9. Agriculture accounts for about 21 percent of GDP and about 70 percent of employment and is exceeded in inportance only by mining, which accounts for about 30 percent of GDP. Rubber is by far the most important export crop. In 1969 (the last complete year for which re- liable data are available) growers produced 64,o0o tons valued at about $30.5 million, which accounted for about 36 percent of Liberia's agri- cultural production and 2.3 percent of world natural rubber output. About 70 percent of rubber exports is produced by seven foreign con- cessionaires who hold land under long leases ranging from 40 to 99 years. In 1969 these concession plantations, which are the source of about 60 percent of value added in agriculture, produced 47,000 tons of rubber from about 94,000 acres of mature trees. Generally, concession holdings are planted with high yieldirg clones and are capital intensive. 10. Data on the five thousand Liberian-owned rubber farms are limited and only a very general picture can be drawn. Production increased from about 12,300 tons in 1965 to about 18,300 tons in 1969 (valued at about US$8.5 million). However, on all but a few of the larger Larms, field management is poor and yields are low, ranging from about 800 pounds an acre to about 180 pounds an acre. About 45 percent of Liberian-owned rubber is estimated to be untapped. Low yielding planting material, poor farm maintenance, inadequate tapper wages and incentives, high transportation and processing costs, absentee landlords, and lack of capital, have all contributed to this situation. These problems become acute when world prices for natural rubber decline, as they have in recent years due mainly to economic recession in industrial countries and the gradual reduction in the production costs of synthetic rubber. 11. In spite of continued increases that can be expected in world demand for rubber, the c.i.f. New York price is expected to decline in real terms by 13-14 percent by the mid-1970s from its average 1971 level. While concessionaires and well-managed plantations will be able to offset the effect of price reductions by increasing production, inefficient and poorly managed farms will be forced out of production. This presents a serious problem for Liberian-owned farms, many of which are badly managed. A decline in rubber production by Liberian farmers would have serious economic and social consequences, including an increase in unemployment in the labor force, which is estimated at 18,00 to 24,000. 12. The majority of Liberians live near subsistence levels, producing rice and food crops for their own consumption and coffee, cocoa and palm kernels for export; production has shown little or no increase for a number of years. Subsistence farming areas suffer from an almost complete lack of infrastructure. Roads are few and frequently unusable in the wet season (April through November). Crop marketing and processing facilities  -5- are insufficient. Farm implements are rudimentary, little fertilizer is used and disease and pest controls are virtually unknown. The average income of subsistence fanmers is estimated to be the equivalent of About, $175 per family, or some $40 per capita. This compares with per capita GNP of $235. 13. The Government is anxious to find ways to assist subsistence farmers. Although Liberia has received assistance for agriculture in the past, mainly from the United States and UNDP, it has often failed to develop viable projects which would make this aid effective. This failure is now recognized by the Government, which plans to expand- the proportion of the national budget devoted to agriculture. Government agencies concerned with agriculture and rural development are to concen- trate on the collection of basic data, with the object of preparing investment proposals for development projects in subsistence farming areas. A special unit has been established in the Office of the President to ensure that rural development priorities and plans are executed properly and speedily. PART IV - THE PROJECT .14- In May 1970, the Liberian Government asked IDA for financial help to replant 24,000 acres of Liberian-owned rubber. The project had been prepared for the Government by the Commonwealth Development Corporation under contract to the Bank Group. A Bank mission appraised it in June/July 1970 but did not recommend Bank Group financing because of the low economic return on replanting rubber. The appraisal was made difficult, however, by the lack of adequate information about the Liberian- owned rubber industry. Subsequently, in discussions with Government representatives, it was concluded that surveys and studies would be re- quired to prepare sound projects in the rubber and subsistence agricultural areas, and that Bank Group assistance should be sought. To this end, negotiations for an IDA credit were held in Washingeon on February 28 and 29, 1972. Mr. Edwin Williams, the Deputy Minister of Finance, headed the Liberian delegation. 15 This is an unusual project for the Bank Group in that it is maiilly for pre-investment studies and planning. It is of a kind which UNDP finances. However, UNDP has informed the Association that it will have no funds available for additional projects in Liberia for some time to come. In these circumstances it seemed proper to propose it for IDA fina.ncing. 16- The proposed project, as summarized in Annex III, would be carried out over three years and would include: (a) making feasibility studies and preparing detailed investment proposals for two integrated rural development projects; (b) carrying out a physical survey and detailed study of the Liberian-owned rubber industry; (c) carrying out a pilot rubber scheme to provide Liberian  -6- rubber farmers with credits to rehabilitate 2,000 acres of untapped or poorly tapped rubber, and government grants to replant 500 acres of old, uneconomic rubber; (d) preparing, on the basis of (b) and (c), detailed proposals for any investments justified for improvement of the Liberian-owned rubber industry; (e) improving rice research at the Suakoko central research station; (f) providing a specialist experienced in administration to plan the future structure and organization of the De- partment of Agriculture and to prepare a staff training program; and (g) providing training for Liberians in preparing investment projects, rice research, and in rubber farm management and tapping. 17. The Government has selected Lofa County in the north for its first rural development project, and is now collecting basic physical and human resource data. It was chosen because of its agricultural potential and because a proposed iron ore mine in the same area is expected to create a new urban center of some 35,000, requiring large quantities of food that could be produced locally. Basic data will also be collected for a similar rural development project in central Liberia. The pro- posed project would finance consultants to analyze the data gathered in both areas and formulate investment proposals for two integrated rural development projects. These would cover agricultural inputs, marketing and processing facilities, crop extraction and feeder roads, potable water supplies and social services, such as health and education. These studies would provide the basis for long-range agricultural development throughout the country. 18. If rural development projects are to succeed, however, additional adaptive research .is urgently required to proviae information concerning crop varieties, fertilizer use and pest control for rice and other food crops. Adaptive research on rice and'other food crops was renewed in 1970 at Suakoko as part of a four-year UNDP project. Facilities, how- ever, are insufficient to support the project, and improved infrastructure-- mainly road surfacing, housing, fencing, electricity, buildings and equip- ment -- is required. In addition, research needs to be better directed. The proposed project would finance these physical improvements, consul- tants to plan and'monitor rice research and an experienced rice agronomist to carry it out. 19. The rubber industry studies and the pilot rubber scheme would determine whether Liberian growers would adopt improved management and production techniques necessary to make rubber growing financially sound and economic. Under the proposed project, consultants-would carry out the rubber industry studies. A special management unit of the Ministry of Agriculture would supervise the pilot scheme. This would include a wide range of Liberian rubber farms, especially smaller ones. The unit  -7- would select the farms for rehabilitation and replanting according to the following guidelines: they would have to be within a 20-mile radius of Suakoko, the unit headquarters; owners would either have to reside on their farms or have a satisfactory manager; farms to be rehabilitated would have trees with at least 10 years of productive life with an esti- mated potential yield of not less than 700 pounds per acre; those to be replanted, an estimated production potential for two years under intensive tapping of at least 900 pounds per acre per annum. Financial returns to farmers participating in the pilot scheme would be satisfactory. Annual net returns for rehabilitation are estimated at $21 an acre, and would average $30 an acre for replanted rubber. These net returns would be similar to the present returns obtained by the best Liberian rubber farmers. 20. The project would be carried out by the Ministry of Agriculture, but in view of the Ministry's staff limitations, the administration specialist to be employed to review its functions, organization and training requirements would also coordinate all project activities. He would be responsible to the Minister of Agriculture or his deputy. The Deputy ministers or their equivalents in Government Ministries and agencies associated with the project would be responsible for ensuring the cooperation of their Ministers and agencies in project implementation, and for reviewing and evaluating the consultants' studies financed under the project. 21. In addition to some 15 consultants to prepare rural development projects, to study the rubber industry, and to plan and monitor rice research, three full-time professionals would be needed -- one to manage the pilot rubber scheme, one rice agronomist, and an administration specialist in the Department of Agriculture. The project would also provide training for graduate economists, agronomists, rice research workers, and rubber farm managers. 22. Total project cost is estimated at $1.6 million. An IDA credit of $1.2 million would meet 75 percent of this amount and would cover the foreign exchange costs of US$0.9 million and US$0.3 million of local expenditures. The remaining 25 percent of project costs (Us$0.4 million) would be met by the Government. During negotiations, assurances were obtained from Government that funds required for the project would be made available two months before actually being needed, and in block form, on the basis of monthly estimates approved by the project coordi- nator. Procurement for goods and civil works, valued at $250,000, would be by local competitive bidding under procedures satisfactory to the Association, since individual contracts would be too small to attract international bids and a sufficient number of construction companies and manufacturers' agents exists in Liberia. All contract awards would be reviewed by the Association and all contracts for civil works and equip- ment estimated to cost US$5,000 or more would be subject to the Associa- tion's prior approval. Consultant's services totalling $628,000, would be obtained according to the Association's normal procedures.  - 8 - 23. The proposed project is primarily limited to pre-investment activities because this is the-best way to develop a sound agricultural development strategy which can have a significant impact on Liberia's economy. In the absence of developing and carrying out such a strategy the subsistence farming sector will remain stagnant, and the contribution of rubber farmers to the economy will fall. The project does not pre- suppose that the Liberian-owned rubber industry can be placed on a firmer economic footing, since without the actions proposed under the project this cannot be determined. The importance of the industry is such, however, that this determination is of the highest priority. PART V - LEGAL INSTRUMENTS AND AUTHORIT( 24. The draft Development Credit Agreement between the Republic of Liberia and the Association, the recommendation of the Committee provided for in Article V, Section 1 (d) of the Articles of Agreement of the Association, and the text of a draft resolution approving the proposed credit are being distributed to the Executive Directors separately. The draft Development Credit Agreement conforms substantially to the pattern of agreements for agriculture projects. PART VI - RECOMMENDATION 25. I recommend that the Executive Directors approve the propose Development Credit. Attachments Robert S. McNamara President Washington, D. C. April 6, 1972  ANNEX I STATEMENT OF BANK LOANS TO LIBERIA AT FEBRUARY 29. 1972 Loan (US$ million) Number Year Borrower Purpose Amount Undisbursed 368 LBR 1964 Republic of Liberia Roads 3.3 368 LBR 1965 Republic of Liberia Roads 1.0 617 LBR 1969 Republic of Liberia Ports 3.6 0.4 684 LBR 1970 Public Utilities Authority Power 7.4 5.2 778 LBR 1971 Public Utilities Authority Power 4.7 4.7 Total (less cancellations) 20.0 of which has been repaid 0.1 Total now outstanding 19.9 Amount sold 0.3 Total now held by Bank 19.6 Total undisbursed (Note: A credit of $7.2 million for education was approved on March 28, 1972) STATEMENT OF IFC INVESTMENT IN LIBERIA AT FEBRUARY 29, 1972 Amount (US$ million) Year Conpany Equity Total 1966 Liberian Bank for Industrial Development and Investment 0.25 0.25 Less sold 0.01 0.01 Now held D2 D   ANNEX II Page 1 COUNTRY DATA - LIBERIA* 1970 Area: 43,000 square miles Population: 1.5 million Rate of growth: 3.O%* Per Capita GDP $300 Per Capita GNP $235 National Income & Product ($ million) 1969%a 1970bJ Gross Domestic Product (in market prices) 427.6 450.3 Net Factor Payments Abroad 92.6 98.5 Gross National Product (in market prices) 335.0 351.8 Annual Rated Growth of GNP at at constant prices (1960-1970) 4% Industrial Origin of GDP: Percentage Distribution (at current factor cost) 1%96 1970bi Agriculture 26.9 25.6 Monetary Economy 19.4 18.3 Rubber (8.8) (7.8) Other (10.6) (10.5) Subsistence Economy 7.5 7.3 Mining & Quarrying 28.5 27.5 Iron ore (26.3) (25.5) Diamonds (1.2) (1.1) Quarrying (1.0) (0.9) Manufacturing 3.8 5.2 Construction 4.4 4.2 Transport & Communication 6.2 5.9 Wholesale & Retail Trade 13.5 14.7 Public Sector Agencies & Enterprises 12.3 12.0 Other Services 3.7 4.5 * The currency in use in Liberia is the United States dollar. ** This estimate is based on latest information. a/ Data for earlier years are not comparable. b/ Estimates.  ANNEX II Page 2 Volume of Production: 1960 1968 1969 1970 197 _a Iron Ore (mil. long tons) 2.9 19.2 21.4 23.4 23.2 Rubber (mil. pounds) 91-3 138.8 147.5 172.2 182.2 Foreign Plantations (75.2) (104.4) (106.2) (118.8) (129.8) Liberian-owned Farms (16-1) (34.4.) (41-3) (53.4) (52.4) Government Finances ($ million) 1968 1969 1970 1971aJ Current Revenues 51.8 61.9 66.5 67.0 Current Expenditures (non-debt) 37.9 41.2 41.4 46.o .Debt Service Payments 13.4 15.0 16.9 18.3 External (11-4) (13-7) (15-4) (16-7) Internal (2-0) (1-3) (1.5) (1.6) Re-purchases from the IMF 3.4 4.4 5.2 2.2 Investible Suriplus -2.9 1.3 3.0 0.7 Development,Expenditures 11.5 11.6 17.9 15.7 (of which: Capital Formation) (10.6) (10.4) (10.2) (11.7) External Trade ,($n.million) January-June 1968 1969 1970 1970 1971 Exports (f.o.b.) 169.0 195.9 213.7 108.9 111.4 Imports (c.i.f.) -108.5 -1'14.6 -145.0 73."5 76.0 Net Factor:-Payments Abroad -97.5 -92.6 -98.5 Non-Factor.-S.ervices -7.5 -5.0 -5.0 "Net" Export.Proceeds 71.5 103.3 115.2 Current.Account Balance -44.5 --16.3 -34.8 ,End of.Year September Commercial Bank .Credit ($ million) 1968 .1969 1970 1970 1971 To the Government (net) 10.9 6.8 7.2 .6.1 8.1 To the Private Sector 24.1 29.4 35.5 38.4 39.1 Monrovia Consumer Price-Index (Nov-Sept 1964 = 100) 114.3 125.3 126.4 External Public Debt ($ million) 1968 1969 1970 1971aj Public Debt Outstanding (including undisbursed)Y 168.9 175.6 176.8 161.7 Debt Service Payments 11.4 13.7 15.4 16.7 Debt Service,Payments as % of: Exports 6.7 7.0 7.2 Exports net of Factor Payments 15.9 13.3 13.4 Government revenues 22.0 22.1 23.2 24.6 aJ Estimates. b/ At rates preceding recent exchange rate alignments.  ANNEX II Page 3 Education: 1970 Enrolment Ratios: Elementary Education (% of age group 7-12) 5 Secondary Education (% of age group 13-18) 12 Higher Education (% of age group 19-25) 0.8 Higher Education Output (per one hundred thousand 0.7 population) Adult Literacy (% of adults) 15 Health: 1969 1970 Population per hospital bed (number) 2181h/ Wage Enployment in the monetary economy 156,000 2/ This percentage includes a high proportion of over-age pupils. It is probable that only 25% of the age group 7-12 is enroled. g Excluding 250 beds in the John F. Kennedy Medical Center whioh began operation in 1971.   ANNEX III Page 1 PRESIDENT'S REPORT CREDIT AND PROJECT SUMMARY Borrower: Government of Liberia. Amount: US$ 1.2 million equivalent. The proposed credit would cover the project's estimated foreign exchange component of US$ 0.9 million and US$ 0.3 million of local coats. Terms: Standard IDA terms. Project: The project would assist Government to implement its agricultural development program in three ways. First, investment proposals would be prepared for two integrated rural development projects. Secondly, a survey and study of the rubber industry, and a pilot rubber scheme would determine means of improving the Liberian owned rubber industry. Thirdly, the Ministry of Agriculture's research services would be improved, and a study made of the Ministry to determine its staff and financial requirements, and the organizational structure needed to plan and implement future development projects. (US$ '000) Cost of Project: Component Local Foreign Total Preinvestment Studies 210 420 630 Rubber Pilot Scheme 210 120 330 Ministry of Agriculture's Reorganization - Study, and Research Services 160 180 340 Training 40 30 70 Contingencies 100 130 230 Total Project Cost 720 880 1,600  ANNEX. III Page 2 (us$ '000) Financing: Local Foreign Total IDA Credit 320.0 880.0 1,200.0 Government 400.0 -400.0 720.0 880.0 1,600.0 Procurement Goods and civil works would be procured by local competitive Arrangements bidding and consultant's services totalling $628,000 bystandard procedures of the Association. Estimated (US$ '000) Disbursements: 1973 1974 X 1976 186 568 356 90 Consultants: (1) To carry out preinvestment studies for: (a) two integrated agricultural development projects, and (b) the Liberian owned rubber industry; (2) To plan and monitor a rice research program; and (3) To determine a; staff and financial plan for the Ministry of Agriculture. Appraisal Report-:, Report No. PA -120a March 7, 1972. Agriculture Projects Department.  ii. to. p /2. M.d,p.,,....~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~..... RICE FPROVA JEJ i S I E R R A L E O N E j L A 1/> i* </1~~~ C 0 rr G U I N E A ,,,,,,-~~~~~~~~~~~~~~~~~~Vg, op iO O~~~~~~~ RPCO Y A AIO I \t I7. Wu UNT NRN/}/CSA I M6&E Bs A tX->C jJMN T < Q g>> < T AGRICULTURAL DEVELOPMENT & A **+ 'G R TECH NICAL ASSISTANCE PROJECT ////gRural Development Project Areas / / *5 t 6,5 * / u . .. f 11Z.' 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