China - Wujing Thermal Power Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No. P-4588-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 $190.0 MILLION TO THE PEOPLE'S REPUBLIC OF CHINA FOR THE WUJING THERMAL POWER PROJECT May 28, 1987 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 EQUIVALENTS Currency Unit - Yuan (Y) I Yuan - 100 fen Calendar 1986 May 1987 $1.00 = Y3.5 $1.00 = Y3.7 Y1.0 = $0.29 Y1.0 = $0.27 FISCAL YEAR January 1 to December 31 WEIGHTS AND MEASURES GWh = Gigawatt hour (1,000,000 kilowaat hours) kWh = Kilowatt hour (860.42 kcals) MW = Megawatt (1,000 kilowatts) PRINCIPAL ABBREVIATIONS AND ACRONYMS MWREP - Ministry of Water Resources and Electric Power SMEPB - Shanghai Municipal Electric Power Bureau  Von OMCIAL Us ONLY CHINA WUJING THERMNL POWER PROJECT Loan and Project Summary Borrower: People's Republic of China Beneficiar: Shanghai Municipal Electric Power Bureau (SMEPB) Loan Amount: US$190.0 million equivalent Terms: 20 years, including five years of grace, at standard variable interest rate Onlending Terms: The proceeds of the loan woul6 be onlent from the Government to SMEPB under a subsidiary loan agreement with a 20 year term, including five years grace, at an interest rate of 8.5% p.a. SMEPB will bear the foreign exchange risk between the dollar and local currency. Financing Plan: Local Foreign Total