Mali - Public Enterprise Institutional Development Project

Document of The World Bank FOR OFFMCIAL USE ONLY Y.eporl No. --4739-MLI MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 7.0 MILLIO( TO RHE REPUBLIC OF MALI FOR A PUBLIC ENTERPRISE INSTITUTIONAL DEVELOPMENT PROJECT May 31, 1988 Twhis document has a restriele distrlbutlon and way be used by recipients only in the performance of their officid dutles. Its contents may not otherwise be disclosed wtou World Bank uhzain  CURRENCY EQUIVALENTS Currency Unit - CFA Franc (CPAF) 1/ US$1.00 - CFAF 286 21 CFAF 1 million = US$3,745 FISCAX. YEAR January 1 - December 31 ABBEVIATIONS BEP - Bureau des entreprises publiques CAA - Caisse autonome d'amortissement COMANAV - Compagnie malienne pour la navigation maritime EDM - Electricite du Mali IDA - International Development Association MFIN - Ministry of Finance and Conerce OPT - Office des postes et,telecommunications PE - Public Enterprise PESAP - Public Enterprise Sector Adjustment Program PPF - Project Preparation Facility 'RCFM - Regie des chemins de-fer du Mali SOB - Statement of Expendittres SONATAM - Societe nationale des tabacs et allumettes du Mali I/ The CFA Franc (CFA?) is tied to the French Franc (FF) in the ratio of FF1 to CFAF 50. The French Franc is currently floating. 2/ Exchange rate of December 17, 1987.  FOR PFFICIAL USE ONLY REPUBLIC OF MALI PUBLIC ENTERPRISE INSTITUTIONAL DEVELOPMENT PROJECT CREDIT AND PROJECT SUMMAaY Borrowers Government of the Republic of Mali Blneficiaries: Ministry of Planning, Ministry of Finance and Conmerce, Office des Postes et Telecommuni- cations. amount: SDR 7.0 million (US$ 9.5 million equivalent) Termss Standard, with 40 years maturity Onlendina Terms: US$3.5 million equivalent would be onlent to OPT at the Bank's prevailing interest rate, with a 20-year repayment period including a five-year grace period; the foreign exchange risk would be borne by OPT. FinanclnA Plan: Local Foreign Total