Philippines - Industrial Restructuring Project

Document of. The World Bank FOR OFFICIAL USE ONLY Report No. P-5376-PH 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 US$175 MILLION TO THE DEVELOPMENT BANK OF THE PHILIPPINES WITH THE GUARANTEE OF THE REPUBLIC OF THE PHILIPPINES FOR AN INDUSTRIAL RESTRUCTURING PROJECT NOVEMBER 19, 1990 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 (as of August 31, 1990) Currency Unit - Peso (I) US$1.00 - 0 24 9 1.00 - US$0.0417 ACRONYMS AP - Action Plan DBP - Development Bank of the Philippines ENB - Environmental Management Bureau ERL - Economic Recovery Loan EXCEL - Export Credit Enhanced Leverage Program GDP - Gross Domestic Product iIC - Industrial Investment Credit Project IRU - Industrial Restructuring Unit PFI - Participating Financial Institution TTA - Training and Technical Assistance Fiscal Year DBP: January 1 to December 31  FOR OMFCIAL USE ONLY REPUBLIC