Philippines - Rural Development Project

FILE COPY CIRCUL4 Ij> IA WPOVRm-D To REPORTS DtKs CIRCULATING COPY TO BE RETURN ED DOCUMENT OF INTERNATIONAL BANK FOR RECONSTRUCIIUTNA P PMENT Not For Public Use Report No. P-1596-PH REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE REPUBLIC OF THE PHILIPPINES FOR THE RURAL DEVELOPMENT PROJECT March 27, 1975 [This report was prepared for official use only by the Bank Group. It may not be published, quoted or cited without Bank Group authorization.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.  Currency Unit = Peso (P) US$1 = 6.720 P 1 = US$.149 P 1,000 = US$149 P 1,000,000 = US$149,000 Fiscal Year = July 1 to June 30  D)OCUJIN ENT OF INTRA'I/RXATIONAL ALAATK P)OR Rkl CONS TR?UCTION ANI) I)El"FLOP IFNT NOT FOR lUBLIC USE FOR For consideration on EXECUTIVE April 8, 1975 DIRECTORS' MEETING R75-50/1 FROM: The Secretary April 1, 1975 PHILIPPINES: Rural Development Project Owing to a mechanical slippage, page 2 of Annex III to the President's Report distributed on March 27, 1975 (R75-50) was skipped in several copies of the Report. Attached is the missing page which may please be inserted in those copies of the President's Report in which it was left out. Distribution: Executive Directors and Alternates President Senior Vice President, Operations Executive Vice President and Vice President, IFC President's Council Directors and Department Heads, Bank and IFC  ANNEX III Page 2 Estimated Cost: US$50 million equivalent of which US$22 million in foreign exchange and US$28 million in local currency. Foreign Local Foreign Total Exchange -------US$ Million