Bolivia - National Mineral Exploration Fund Project

Document of The World Bank FOR OFFCIAL UZE ONLY Rbpqwt ? 8960 PROJECT COMPLETION REPORT BOLIVIA NATIONAL MINERAL EXPLORATION FWD PROJECT (CREDIT 940-BO) AUGUST 14, 1990 Trade, Finance and Industry Operations Division Country Department III Latin America and the Caribbean Regional Office his document bas a restricted distribution and may be used by recipients ondy In the perfonnane of their offical dudte Its contents may not othewise be disclsd withont Wodd BDank authorization.  TiE WORLD SANKTO& OMfCIAL USE. ONLY *Wau8w"tonO.C. X033 USA se d 1_nwC.w August 14, 1990 MEMORANDUM TO THE EXECUTIVE DIRECTORS AND THE PRESIDENT SUBJECTs Project Completion Report on Bolivia National Mineral Exploration Fund Project (Credit 940-3O0 Attached, for information, is a copy of a report entitled "Project Completion Report on Bolivia - National Mineral Exploration Fund Project (Credit 940-BO)" prepared by the Latin America and the Caribbean Regional Office. No audit of this project has been made by the Operations Evaluation Department at this time. Attachment Us d-auMs ha'a mused diUiuaas am be aed by mwsn only n lb pe mm.ce Of1 thw cal d uIn =Bfinu may am otwiw be diaed whout Wod f *I  CS COHPLZOM RPORT BOLIVU- NATIONAL KIUZEL WL PROJECT (CREDIT 940-BO) TAIL OF CONTETS Pale 1o. Preface *.*.**..**.......*....*.*****.............*. 1 asic Data Shoet ........................ ii Highlights .......................................................... iv 3. Project Idestity ........................................1. 2. Backgrouad ..................... *....................... 1 3. Project Design ..................... 2 4. Project Objectives, Description and Organization ......... 3 5. Project Implementation and Revision/Cancellation ......... 5 6. Project Results .......................................... 7 7. Proet Sustainability ....................................... 8 S. IDA Performance ......80.. 9. Borrower Performance ..................................... 9 10. Project Relations ... ..................................... 10 11. Consulting Services ...* .................................. 10 12. Project Documentation and Data .......................... 10 SMME 1. Project Costs ....................... 11 2. Project Financing . . . . ....... *12 3. Status of Covenants . ................ 13 4. Comments on PCR - Government ............................. 15 5. Cosnents on PCR - PONEMI . 18 6. IDA's Review of Comments from Government and FONDM ... *# .......*t*........... 29  PROJECT COMPLETION REPORT BOLIVIA NATIONAL MINERAL EXPLORATION FUND PROJECT (CREDIT 940-BO) PREFACE 1. This report reviews the performance of IDA's National Mineral Exploration Fund Project (Credit 940-BO) made to the Government of Bolivia for onlending to the National Mineral Exploration Fund (FONEM). The Credit, in the amount of US$7.5 million, was intended to develop a capability to execute adequate mineral exploration in Bolivia. The project was appraised in May 1978, approved by the Board of Executive Directors in June 1979, and declared effective in January 1980. Following three extensions of the original closing date of June 30, 1983, the project was revised in early 1987, and subsequently cancelled in July 18, 1988, with an undisbursed balance of US$3,657,485.45 also cancelled as of the same date. 2. This report is based on the data obtained during the IDA mission to Bolivia in June 1988. It reviews the progress made towards achievement of the Credit's direct and sectoral objectives. For this purpose, it examines the original objectives and configuration of the project, and focuses on the factors that affected performance, and on the considerable variance between project objectives and results. 3. In accordance with the revised procedures for project performance audit reporting, this Project Completion Report was read by the Operations Evaluation Department (OED), but the project was not audited by OED staff. OED sent copies of the draft report to the Borrower for comments. The comments received from tYhe Ministry of Planning and Coordination and from FONEM have been taken into account in preparing the final report and they are reproduced as Annexes to the Report.  1