Morocco - Rural Primary Education Project

Documnent of The World Bank FOR OFFICIAL USE ONLY a La/V t3c Z6 -A1c' Report No. P-4895-MOR MEMORANDUM; AND RECOMMENDATION OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A P"OPOSED LOAN IN AN AMOUNT OF US$83 MILLION TO THE KINGDOM OF MOROCCO FOR A RURAL PRIMARY EDUCATION PROJECT FEBRUARY 22, 1989 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 EOUIVALENTS (as ofl November, 1988) Currency Unit - Moroccan Dirham (DH) US$1.00 - DH8.1 DF .00 = US$0.123 FISCAL YEAR January 1 - December 31 GLOSSARY OF ABBREVIATIONS ADB African Development Bank MOE Ministry of Education  FOR OMCIAL USE ONLY KINGDOM OF MOROCCO RURAL PRIMARY EDUCATION PROJECT Loan and Proiect Summary Borrower: Kingdom of Morocco Amount: US$83 million equivalent Terms: 20 years including a 5 years grace period, at the standard variable interest rate. Financing Plan: Government US$ 42.0 million Cofinancing (ADB) US$ 40.0 million IBRD US$_83.0 million TOTAL US$165.0 million Economic Rate of Return: N.A. Staff Appraisal Report: Report No. 7434-MOR iiap: IBRD Reference Number: 21270 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 RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE KINGDOM OF MOROCCO FOR A RURAL PRIMARY EDUCATION PROJECT 1. The following memorandum and recommendation on a proposea loan to the Kingdom of Morocco for US$83 million equivalent is submitted for approval. The proposed loan would carry the Bank's standard variable interest rate with a maturity of 20 years, including 5 years' grace, and would help finance a Rural Primary Education Project. 2. Background. Government efforts in the education and training sector since Independence have focussed on quantitative and qualitative improvements to meet the needs of a growing economy and a population growth in excess of 2.51 p.a. Following an initial effort to expand primary level enrolments, the 1970s and early 1980s saw more rapid enrolment growth at the costlier secondary and post-secondary levels. This expansion took place against a background of slower economic growth, deterioration of the balance-of-payments and serious fiscal deficits. Recurrent expenditures for education grew very fast, reaching 29X of government recurrent expenditures in 1987, compared with 141 in 1975. At the same time, education investment oxpenditures were severely curtailed, declining by nearly 40X between 1982 and 1985 in real terms. Moreover, scarce resources were used overwhelmingly to accommodate growing enrolments, while complementary expenditures needed to sustain and improve the quality of education were neglected. This situation has been recognized by the Government, which in 1985 t-mbarked on a comprehensive program of reforms in the education sector supported by the Bank through the Education Sector Reform Loan (2664-MOR, approved on March 20, 1986). The objectives of the reform program are to make the provision of education more equitable, more cost-effective, and more consistent with the country's medium-term development needs. The main long-term engine of change is the adoption of a nine-year universal basic education standard, requiring expansion of primary and lower secondary systems, with compensating reductions in the pass rates into further education. During the first phase of the program (1986-1988), satisfactory progress was achieved in improving participation and efficiency at primary and secondary levels, while developing new curricula and teaching methods aimed at improvinig the quality of education. In higher education, some successes were achieved in terms of better targetting of seholarships and increased productivity of teaching staff. However, program performance falls short of expectations in two areas because of the continuing high demand for public higher education. After meeting the reform program target for limiting growth of new university entrants to only 21 in 1985-86 and 1986- 87, new entrants increased by 211 in 1987-88. New entrants for 1988-89 maintained at approximately the 1987-88 level. Al.3o, student grants have been reduced substantially but registration fees have not been introduced. A number of alternative options for financing higher education are now being investigated through sector work.  2 4. Sector strategy. The Government's current strategy in the education sector reflects the continuing need to consolidate gains in basic education. To protect investments, particularly those needed to expand primary and lower secondary intakes, the Government has formulated, in consultation with the Bank, a program of minimum public investments in line with the priorities defined in the Education Reform Program. Accordingly, priority investments are directed to: expand and improve primary education to provide universal access to primary schooling by the beginning of the next century; increase attendance in lower secondary schooling in line with the introduction of a 9-year basic education entitlement from 1990; and, selectively improve the quality of higher education, especially by giving greater autonomy to individual institutions and targetting public subsidies to students. As a followup to the Sector Reform Loan, which is fully committed and expected to close this year, Government is preparing with Bank assistance two investment loans in the primary (the project proposal below) and secondary subsectors. Finally, the Bank is supporting Government's strategy of upgrading the quality of vocational training services, and reinforcing the links between Moroccan employers and public and private training institutions. A joint review of industrial training priorities is underway, and expected to lead to further Bank investment assistance in this area. 5. Primary Education: Access. Attendance and Ouality. Despite important progress made during the last three decades in the education sector, primary education is still not available to a large proportion of the rural population, especially in remote and sparsely populated areas. About 6,500 small communities (22% of villages) with population below 1,000 have no access to primary schocl. In addition to overall capacity constraints, attendance of rural girls is extremely low compared with boys and with their urban counterparts. In 1987- 88, new entrants in Grade 1 accounted for only 341 of rural girls and 691 of rural boys of age 7, compared with 851 and 891 in urban areas, respectively. To improve school attendance, the Government is committed to improving the quality of basic education in the areas of curriculum and standard achievement testing, teacher training and deployment, multigrade teaching practices, school management, and school food and health services, to adapt school schedules to local needs, and to help lower the costs of school books and materials paid by parents: progress on all these fronts is needed to translate improved access into increased attendance. 6. Rationale for Bank Involvement. The proposed project sustains, develops and reinforces the key policy orientations in basic education adopted under the Education Sector Reform Program which has a 10 to 15-year horizon. It supports providing universal access to basic education by the beginning of next century. This long-term objective will require sustained Government effort, further improvements in school system capacity, efficiency and quality, and continuing external support. These orientations have been confirmed in the context of the Structural Adjustment Loan (Loan no. 3001-NOR) and the recent Public Investment Review, which recognize that sustained, targetted investments in the social sectors are a key to long-term economic development. 7. Proiect Objectives. The overall objective of the proposed project is to implement rapid, yet sustainable expansion and improvement of primary education in rural areas. This implies a set of interrelated measures to: (a) increase access to primary schooling; (b) increase rural primary education  3 .Ccendance, particularly for girls; (c) improve the quality of primary education; (d) strengthen planning, monitoring and evaluation capacity at all levels of the school system; and (e) strengthen the efficient and rational utilization of resources in the sub-sector. 8. Proiect Description. The proposed project would assist the Ministry of Education (MOE) to establish and equip over 11,600 new classrooms and related school facilities, including 1400 school canteens, 2900 staff housing units, and a pilot program of sanitary facilities, and water pumping and storage facilities in about 120 under-supplied areas. It would promote rural primary school attendance by: (a) improving accessibility and affordability of textbooks and educational materials through distribution of an initial stock of textbooks to be lent out by school cooperatives; and, (b) supporting community initiatives to encourage families to send children to school with a special emphasis on enrolment of girls. The project would also improve the quality of education by supporting the development of curricula and of standardized achievement testing modules; improve effectiveness of teacher selection, pre- and in-service training, and deployment cf teachers in rural areas; improve multi-grade teaching; strengthen school management; and introduce health education curricula and improve delivery .f school health services in collaboration with the Ministry of Public Health. The project would also strengthen MOE school mapping services and monitoring and impact evaluation capacity. 9. Policy Measures. In light of the budgetary constraints affecting primary education, a series of complementary measures to improve quality and contain costs through restructuring of staff recruitment, training and deployment standards have been included in the project. These measures were developed with Bank assistance. They include, in particular: (a) standardizing teacher entry qualifications at the secondary school diploma level, plus two years in teacher training centers, a major improvement from the present system which favors candidates with university education but provides only one year of professional training: these teachers are not only paid more for the same job through most of their career, they are also less likely to want to remain assigned to rural primary schools; (b) streamlining administrative functions at secondary level through redeployment of non-teaching staff according to revised staff allocation rules. These measures would generate recurrent expenditure savings estimated at US$15 million per year when fully implemented (equal to total non-salary expenditures for primary education in 1988). In addition, MOE is introducing measures to sustain quality improvements by establishing specific cost norms and budgetary allocations for primary education expenditures on educational materials, teacher supervision, staff training, and school maintenance. 10. Project Costs and Financing. The total cost of the project net of taxes and duties is estimated at US$140 million with a foreign exchange cost of US$69.7 million. The IBRD Loan of US$83 million would cover about 60% of total project costs net of taxes and duties. A proposed African Development Bank (ADB) loan would finance an additional US$40 million in parallel. Together, the Bank and ADB would finance 89% of total project costs net of taxes and duties, including all foreign exchange and some local costs. The remaining local costs (US$42 million including US$25 million in taxes and duties) would be financed from the government investment budget. A breakdown of project costs and the financing plan are shown in Schedule A. Amounts and methods of procurement are  4 shown in Schedule B. A timetable of key processing ever.ts and the status of Bank Group operations in Morocco are given in Schedules C and D, respectively. A map is attached. The Staff Appraisal Report No. 7434-MOR dated February 14, 1989, is3 being distributed separately. 11. Agreed Actions. The Governrent would implement the measures reflected in para. 9 above within an annual work program reviewed regularly with the Bank. Government also provided assurances that a feasibility study on the provision and distribution of spectacles will be finalized by September 30, 1990. 12. Benefits. The main benefits anticipated stem from increased enrolments in rural primary education. By project completion in 1995, enrolments are expected to have increased by about 370,000 (+38X), with attendance by girls up by over 200,000 (+75X). The gross enrolment rate in rural areas would reach 79% and 49% of rural boys and girls of primary school age, as against 731 and 30% in 1987-88, respectively. The project would also: test innovative approaches for increasing enrolment rates of rural girls; lead to qualitative gains in pupil achievement throu[,h improved quality of teachers, curricula and instructional materials; and, contain the growth of incremental expenditures, through rationalization of teacher employment and training policies, non-teaching staff redeployment, and increased priority to non-salary budgetary allocations for primary education expenditures. 13. Risks. During protracted fiscal austerity, the risk remains that Government may have to divert funds away from critical non-salary expenditures in the primary education subsector. However, special attention has been given to establishing the basis for appropriate budgetary allocations within the education sector through a target public investment program developed in the context of the Structural Adjustment Loan. Monitoring of specific technical norms for non-salary expenditures will be undertaken during supervision of the proposed loan. The project also includes several experimental components (notably provision of low-cost textbooks to school cooperatives, and community- based activities to promote female participation) whose outcomes are uncertain. These initiatives have however obtained clear endorsement from the Government, and will be monitored systematically v xing project execution. 14. Recg=ndatio . 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. Barber B. Conable President Washington, D.C. February 22, 1989 By W. David Hopper  5 Schedule A KINGDOM OF MOROCCO RURAL PRIMARY EDUCATION PROJECT Estimated Costs and Financing Plan Estimated Proiect Costs Local W/ Foreign Total ------- (US $ Million)----------- A. School Facilities 77.1 48.7 125.8 B. Textbooks and attendar.ce, promotional campaigns 3.8 5.6 9.4 C. Curricula, training, school health 1.6 4.7 6.3 D. Planning, Monitoring and Evaluation 0.6 1.9 2.5 Total Base Costs 83.1 60.9 144.0 Physical Contingencies 5.4 4.0 9.4 Price Contingencies 6.8 4.8 11.6 Total Project Costs 95.3 69.7 165.0 Financing Plan Government 42.0 42.0 IBRD 36.5 46.5 83.0 ADB 16.8 23.2 40.0 Total 95.3 69.7 165.0 g/ Including $25m taxes and duties.  6 pnge 1 of 2 RURAL PRIMARY EDUCATION PROJECT Procurement Method and Disbursements A/ Expenditures Categories Procurement method Total Including ICB LCB Other Contingencies Civil Works 66.6 0.4 39.9 106.9 (51.7) (0.3) (52.0) Professional Services - - 10.0 10.0 Equipment and Vehicles 1.9 1.1 0.3 3.3 (1.7) (0.9) (0.3) (2.9) Furniture 16.2 - 9.5 25.7 (12.0) - (0.3) (12.3) Educational Materials 1.1 - 11.5 12.6 (1.0) , (9.8) (10.8) Technical Assistance, - - 6.5 6.5 Training and Studies - (5.0) (5.0) Total 85.8 1.5 77.7 165.0 IBRD Financing (66.4) (1.2) (15.4) (83.0) A/ Figures in parenthesis are the respective amounts financed by the IBRD.  Schedule A KINGDOM OF MOROCCO RURAL PRIMARY EDUCATION PROJECT Estimated Costs and Financing Plan Estimated Proiect Costs Local A/ Foreign Total ------------(US $ Million)------------ A. School Facilities 77.1 48.7 125.8 B. Textbooks and attendance, promotional campaigns 3.8 5.6 9.4 C. Curricula, training, school health 1.6 4.7 6.3 D. Planning, Monitoring and Evaluation 0.6 1.9 2.5 Total Base Costs 83.1 60.9 144.0 Physical Contingencies 5.4 4.0 9.4 Price Contingencies 6.8 4.8 11.6 Total Project Co^cs 95.3 69.7 165.0 Financing Plan Government 42.0 -- 42.0 IBRD 36.5 46.5 83.0 ADB 16.8 23.2 40.0 Total 95.3 697 165.0 p/ Including $25m taxes and duties.  6 Sc.hedul B Page 1 of 2 KINGDOM OF MOROCCQ RLURA PRIMARY EDUCATION PRQJECT Procurement Method and Disbursements L/ Expenditures Categories Procurement method Total Including ICB LCB Other Contingencies Civil Works 66.6 0.4 39.9 106.9 (51.7) (0.3) (52.0) Professional Services - 10.0 10.0 Equipment and Vehicles 1.9 1.1 0.3 3.3 (1.7) (0.9) (0.3) (2.9) Furniture 16.2 9.5 25.7 (12.0) . (0.3) (12.3) Educational Materials 1.1 11.5 12.6 (1.0) . (9.8) (10.8) Technical Assistance, - - 6.5 6.5 Training and Studies - - (5.0) (5.0) Total 85.8 1.5 77.7 165.0 IBRD Financing (66.4) (1.2) (15.4) (83.0) A/ Figures in parenthesis are the respective amounts financed by the IBRD.  7 Schedule B Page 2 of 2 Disbursements Category Amount Percentage (JS$ million) Civil Works 48.8 80% Goods 23.8 100l (of foreign expenditures) 100% (local expenditures - ex- factory cost) 80% (of local expenditures for other items procured locally) Technical Assistance, fellowships and Training 4.0 100l (of expenditures) Unallocated 6.4 83.0 Estimatec. 1BRD Disbursements Bank Fiscal Year 90 91 92 93 94 95 96 -----------------(US$ Million)---------------- Annual 8.0 11.0 23.0 15.0 13.0 11.0 2.0 Cumulative 8.0 19.0 42.0 57.0 70.0 81.0 83.0  8 Schedule C KINGDOM OF MORQCCO RURAL PRIMARY EDUCATION PROJECT Timetable of Key Project Processing Events (a) Time taken to prepare: 18 months (b) Prepared by: Government with Bank assistance (c) First Bank Mission: November 1987 (d) Appraisal Mission Departure: June 1988 (e) Negotiations: January 1989 (f) Planned Date of Effectiveness: June 1989 (g) List of Relevant PPARs: First Education Project (Cr. 79-MOR; PPAR No. 1637); Second Education Project (Cr. 266-MOR; PPAR No. 4545); Third Education Project (Ln. 1220-T-MOR; PPAR No. 6845).  9 Pag 1 of 2 STATUS OF BANK OPERATIONS IN MOROCCO A. STATEMENT QF BANK 1OANS AND 1* A CA S (As of September 30. 1988) Loan or USS Million A_umt Credit (Loss Canc.latimos) Number Yenr Borrower Purpose Blak la Undisbursed Fourty-seven Loans Fully Disbursed 1,857.61 Five Credits Fully Disbursed 45.16 1602 1978 Kingdom of Morocco Agriculture 40.0 13.81 1681 1979 Kingdom of Morocco Education 88.0 12.5B 1848 1980 Kingdom of Morocco Agriculture 18.0 4.60 1944 1981 Kingdom of Morocco Urban Development 15.0 5.49 2006 1982 Kingdom of Morocco Water SUDPly 78.0 29.62 2038 1982 Kingdom of Morocco DFC (SSI) 30.0 10.10 2082 1982 Kingdom of Morocco Agriculture 16.0 8.69 2110 1982 Kingdom of Morocco Forestry 15.5 7.52 2149 1982 Kingdom of Morocco Education 38.0 7.32 2217 1983 Kingdom of Morocco Agriculture 22.0 16.18 2245 1983 CIH Housing Development 34.0 14.03 2253 1983 Kingdom of Morocco Agriculture 34.0 25.93 2254 1983 Kingdom of Morocco Highways 76.6 26.58 2271 1983 ONAREP Oil Exploration o5.2 .27 2272 1983 KIngdom of Morocco Village Infrastructure 16.0 2.08 2479 1985 Kingdom of Morocco Vocational Training 27.1 14.12 2487 1985 Kingdom of Morocco Electrical & Mec. Ind. 25.1 13.10 2508 1985 Kingdom of Morocco Jerada Coal Min. 27.0 18.55 2572 1985 Kingdom of Morocco Health 28.4 25.55 2656 1986 Kingdom of Morocco Agriculture 46.0 43.51 2657 1986 Port Authority Port of Casablanca 22.0 16.06 2664 1986 Kingdom of Morocco Education 150.0 38.29 2731 1986 CNCA Agric. Credit 120.0 45.10 2779 1987 Kingdom of Morocco Vocational Training 22.3 21.12 2798 1987 ONP Telecomunications 116.0 115.89 2806 1987 National Bank for Econ. Development Industr. Export Fin. 70.0 51.63 2820 1987 Kingdom of Morocco Publ. Enter. Rat. 240.0 119.@ 2825 1987 Kingdom of Morocco Nat. Water Supply 60.0 58.95 2826 1987 Kingdom of Morocco Greater Casa. Sewerage /A 60.0 60.00 2885 1988 Kingdom of Morocco 2nd Agr. Sector Adj. 225.0 160.20 2910 1988 Kingdom of Morocco Power Distribution /k 90.0 - 90.00 2954 1988 Kingdom of Morocco Small & Med. Irrig. II /k 23.0 23.00 TOTAL 3,821.81 45.16 1.098.98 of which has been repaid (only amortization) 804.87 4.44 TOTAL held by Bank and IDA 3,016.94 40.73 Amount Sold 20.11 of which has been repaid TO,AL undisbursed 1,099-02 /a Not yet effective. /b Not yet signed. 04799/p3 10/27/88  10 SCHED"WLO Page 2 Of 2 8. STA,TF.ENT OF TFC INVESlMENTS IN MOROCCO B. 2 of Seamber 30. 19851 Fiscal Tvoe of Butinahs Loan Lamm Total 1962 Banque Nationale Development Financing 58.15 1.54 59.69 1978 pour le Odveloppement 1983 Economique (BNDE) 1985 1966 Soci1te Industrielle Agroindustry 0.89 0.50 1.39 de Lukus (Loan fully repaid; equity sold 1976 Marrakech Cement Cement Production - 1.28 1.28 1977 Temara Cement Cement Production 4.75 3.57 8.32 1980 1979 Ciments d'Agadir Cement Production 15.16 - 15.16 1980 SOMIFER Mines 12.99 2.35 15.34 1981 Casablanca Cement Cement Production 15.80 2.25 18.05 1-82 1985 Frumat Agroindustry 8.30 - 8.30 1987 Cridit Immobilier et Financial Institution 2 2 H8telier (CIH) 2S.00 25.00 1987 Setafil Textile Factory 3.27 1.33 4.60 1987 Cialgas-Maroc S.A. Agar Production 1.00 0.30 1.30 Total Gross Comuitments 145.31 13.12 158.43 Less Cancellations, terminations, repayments, sales and exchange adjustments 4.13 51.79 Total Commitments held by IFC ZLia% ,.ZIJ 1flLM of which undisbursed 2.13 0.73 2.83 I IFC net. Does not include participations from coamercial banks. 0479B/p4 2/15/89  9 STATIIS OF BANK OPERATIONS IN MOROCCO A. STAY 0ENT OF BANK LOANS AND IQA CREOITS (As of September 30. 1988) Loan or US$ Million A.ot Credit (Less Cane.llatjmgs) Number Year Borrower Purpose lak IM Uhnisbrsed Fourty-seven Loans Fully Disbursed 1,857.61 Five Credits Fully Disbursed 45.16 1602 1978 Kingdom of Morocco Agriculture 40.0 13.81 1681 1979 Kingdom of Morocco Education 88.0 12.56 1848 1980 Kingdom of Morocco Agriculture 18.0 4.60 1944 1981 Kingdom of Morocco Urban Development 15.0 5.49 2006 1982 Kingdom of Morocco Water Supply 78.0 29.62 2038 1982 Kingdom of Morocco DFC (SSI) 30.0 10.10 2082 1982 Kingdom of Morocco Agriculture 16.0 8.69 2110 1982 Kingdom of Morocco Forestry 15.5 7.52 2149 1982 Kingdom of Morocco Education 38.0 7.32 2217 1983 Kingdom of Morocco Agriculture 22.0 16.18 2245 1983 CIH Housing Development 60.0 14.03 2253 1983 Kingdom of Morocco Agriculture 34.0 25.93 2254 1983 Kingdom of Morocco Highways 76.6 26.58 2271 1983 ONAREP Oil Exploration 65.2 .27 2272 1983 Kingdom of Morocco Village Infrastructure 16.0 2.08 2479 1985 Kingdom of Morocco Vocational Training 27.1 14.12 2487 1985 Kingdom of Morocco Electrical & Mec. Ind. 25.1 13.10 2508 1985 Kingdom of Morocco Jerada Coal Min. 27.0 18.55 2572 1985 Kingdom of Morocco Health 28.4 25.55 2656 1986 Kingdom of Morocco Agriculture 46.0 43.51 2657 1986 Port Authority Port of Casablanca 22.0 16.06 2664 1986 Kingdom of Morocco Education 150.0 38.29 2731 1986 CNCA Agric. Credit 120.0 45.10 2779 1987 Kingdom of Morocco Vocational Training 22.3 21.12 2798 1987 ONP Telecomnunications 116.0 115.89 2806 1987 National Bank for Econ. Development Industr. Export Fin. 70.0 51.63 2820 1987 Kingdom of Morocco Publ. Enter. Rat. 240.0 119.42 2825 1987 Kingdom of Morocco Nat. Water Supply 60.0 58.95 2826 1987 Kingdom of Morocco Greater Casa. Sewerage /a 60.0 60.00 2885 1988 Kingdom of Morocco 2nd Agr. Sector Adj. 225.0 160.20 2910 1988 Kingdom of Morocco Power Distribution lk 90.0 - 10.00 2954 1988 Kingdom of Morocco Small & Med. Irrig. II /k 23.0 23.00 TOTAL 3,821.81 45.16 1,098.98 of which has been repaid (only amortization) 804.87 4.44 TOTAL held by Sank and IDA 3,016.94 40.73 Amount Sold 20.11 of which has been repaid 20.11 TOTAL undisbursed 1.099.02 /a Not yet effective. /b Not ye' -gned. 0479B/p3 10/27/88  10 SCHEDUJLE D Pape 2 of 2 B. STATgMENT OF TFC INVESMENS INMROC (AlO SOOtember 30. 1988F9)~- Fiscal USS Mtliton -Year_ Oblfiaor Type of Bu2iness -LA[a -- Ec D dt 1962 Banque Nationale Development Financing 58.15 1.54 59.69 1978 pour le Ddveloppment 1983 Economique (BNDE) 1985 1966 Soci6te Industrielle Agroindustry 0.89 0.50 1.39 de Lukus (Loan fully repaid; equity sold 1976 Marrakech Cement Cement Production - 1.28 1.28 1977 Temara Cement Cement Production 4.75 3.57 8.32 1980 1979 Ciments d'Agadir Cement Production 15.16 - 15.16 1980 SOMIFER Mines 12.99 2.35 15.34 1981 Casablanca Cement Cement Production 15.80 2.25 18.05 1982 1985 Frumat Agroindustry 8.30 - 8.30 1987 Cr6dit Immobilier et Financial institution 2 2 148telier (CIH) 25.O0 - 25.00 1987 Setafil Textile Factory 3.27 1.33 4.60 1987 Cialgas-Maroc S.A. Agar Production 1.00 0.30 1.30 Total Gross Commitments 145.31 13.12 158.43 Less Cancellations, terminations, repayments. sales and exchange adjustments S7.79 Total Comnitments held by IFC 99.81 of which undisbursed 2.13 0.73 2.83 ' IFC net. Does not include participations from conmercial banks. 04798/p4 2/15/89  IBRD 21270 OL*AN \T T ~~AL HOCEtl A MOROCCO RURAL PRIMARY EDUCATION PROJECT MW. ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~~~~~~~~~~~~~~~~~~~~~~ .3 4- F ~- Mal-;s-=oX A5D