Colombia - Community Child Care and Nutrition Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No.P-5171-CO 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$24.0 MILLION TO THE REPUBLIC OF COLOMBIA FOR A COMMUNITY CHILD CARE AND NUTRITION PROJECT MAY 2, 1990 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EQUIVALENCY UNITS Currency Unit = Colombian Peso (Col$) US$1.00 = Col$470 (April 1990) Col$1.00 = US$0.002 (April 1990) ABBREVIATIONS HBT - Child Care Home (Hogar de Bienestar Infantil) ICBF - Colombian Institute for Family Welfare (Instituto Colombiano de Bienestar Familiar) MIS - Management Information System NGO - Non-governmental Organization UNICEF - United Nations International Children's Emergency Fund FISCAL YEAR January 1 - December 31 FOR OFFICIAL USE ONLY COLOMBIA COMMUNITY CHILD CARE AND NUTRITION PROJECT Loan and Project Summary Borrower: Republic of Colombia Beneficiary: Colombian Institute of Family Welfare (ICBF) Amount: US$24.0 million equivalent Terms: Payable in 17 years, including a 5-year grace period, at the Bank's standard variable rate Financing Plan: Government US$16.2 million IBRD US$24.0 million Total US$40.2 million Economic Rate of Return: Not applicable Staff Appraisal Report: Report No. 8028-CO Map: IBRD No. 18370R 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 REPUBLIC OF COLOMBIA FOR A COMMUNITY CHILD CARE AND NUTRITION PROJECT 1. The following memorandum and recommendation on a proposed loan to the Republic of Colombia for US$24 million is submitted for approval. The proposed loan would be repayable over a period of 17 years, including five years of grace, at the Bank's standard variable interest rate. 2. Background. Over the past 25 years, Colombia has recorded significant economic gains, with recent growth on the order of 4 percent to 5 percent annually. Social progress has also been impressive over the last decades. Between 1964 and 1985, the population growth rate dropped from 3.7 percent to 1.8 percent; infant and maternal mortality declined appreciably (from 81 to 61 deaths per 1,000 live births, and from 254 to 107 deaths per 100,000 births, respectively); over 80 percent of the relevant age-group, equally divided betwpen boys and girls, now attends primary school. Despite these advances, as captured in average country indicators, the distribution of economic and social benefits remains highly skewed. Incomes of the top 20 percent of households are six to seven times that of the bottom 20 percent, and severe poverty continues to affect some 20 percent of the population. The worst poverty is a3sociated with urban slums. In these areas, services are typically inadequate and living conditions unhygienic; and child mortality is 50 percent higher than elsewhere. A particularly heavy burden is placed on poor women and children: an estimated 25 percent of poor urban households is headed by women, and in this group children suffer disproportionately from illness, poor nutrition, neglect, and violence. 3. A major objective of the Government is to reduce poverty by means of policies and programs designed to raise the income-earning capacity of the poor. This anti-poverty orientation is based largely on a long-term strategy of human resource development through increased investment in health, nutrition and education services directed at the most vulnerable groups. Programs underway center on expanding and upgrading basic health services, including services for maternal, pre-natal and infant care; and universalizing primary education. Another cornerstone of the initiative is a community-based program: Child Care Homes (HBIs), managed by the Colombian Institute for Family Welfare (ICBF). The HBIs provide day care, including feeding, early childhood education, and health monitoring for poor urban children, aged two to six. The HBI program is based on experience accumulated over ten years by different Colombian institutions, both public and private, with the assistance of UNICEF and non-governmental organizations (NGOs), and on broader evidence on the importance of appropriate nutrition, health services and early childhood development as determinants of future productivity and well-being. A central feature of the program, which helps maintain HBI unit costs around a third the cost of an older, center-based program of the ICBF, is its provision in individual homes in the neighborhood operated by "community mothers". These women, chosen by the community, receive a modest stipend, a home improvement loan (to ensure minimum safety and sanitary conditions) and orientation in day care and nutrition. Communities participate through volunteer (including NGO) support, and through parents' associations and aominal contributions. Organized supervision of the home is also provided by the ICBF. Using this model of direct community participation, the ICBF mounted the HBI program on a broad scale in 1987. By mid-1989 it served some 500,000 - 2 - children, and by 1995 the Government plans to extend the HBI program to all urban children identified as being at risk--estimated at over 1,000,000--with annual targets set on the basis of performance reviews. 4. As reviewed in a 1988 Bank report (Social Programs and Poverty Alleviation: An Assessment of Government Initiatives, IBRD Report 7271-CO of December 2, 1988), the HBI program successfully reaches very poor urban children and mothers with day ca-e, nutrition and pre-school development services. A 1989 evaluation, carried out by consultants to the ICBF, confirmed that the HBI program is a viable mechanism to reach this group. It also concluded that to ensure the continued effectiveness of the HBIs during expansion, ICBF must not only sustain strong community involvement, but also seek to guide the expansion with improved policies for finance and management. ICBF must ensure, for example, that all its child-care subsidies are targeted on the least well-off children and mothers. This will require a reduction in its support for its center-based day care program, which serves largely a middle income clientele. Foodstuffs procured for the HBI program, in particular a local food supplement, Bienestarina, currently produced by the ICBF, will also need to be more economically provided; and the supply of Bienestarina, which has lagged behind demand, will need to be expanded. The scaling up of the program will further require institutional strengthening of ICBF for providing technical support for local program implementation, for planning and monitoring, and for conducting an impact evaluation with support from the National Department of Statistics. In addition, selected improvements are required to enhance service delivery, notably in training, and in access to home upgrading credit for community mothers and basic health services for children attending HBIs. Management arrangements for the home upgrading also need to be further developed. The Government is refining the HBI program to address these issues. 5. Rationale for Bank Involvement. Bank assistance strategy for Colombia focuses on continued economic growth, combined with poverty alleviation, through policy adjustment and selective investments in key economic and social sectors. The proposed project supports this strategy through a focus on ICBF policy analysis, institutional development and enhancement of HBI service delivery effectiveness. The Bank has previously extended support for one nutrition and one health project in Colombia. An integrated nutrition project (Loan 1487-CO, 1977) met or exceeded physical targets, but was judged on completion as overly complex in design and weak in impact evaluation. A health project (Loan 2611-CO, 1986), designed to support decentralization of the public health system, encountered inefficiencies in coordination and execution among numerous participating agencies and was recently reprogrammed. These experiences have been taken into account in the proposed project. In addition to complementing the earlier operations in nutrition and health, the proposed project reinforces the objectives of a recent Bank loan which supports the Government's development program for primary education (Loan 3010-CO, 1989). 6. Project Objectives. The proposed project forms a key part of the Government's program to raise incomes among the poor and improve their well- being through cost-effective, targeted interventions. The project would contribute to this effort by strengthening the ongoing HBI program. The project is part of the Government's six-year expansion program for the HBIs (1990-95) and will: (i) improve the cost-effectiveness of ICBF operations; (ii) increase the technical support, planning, monitoring and evaluation capabilities of ICBF; and (iii) raise HBI quality as services double. It includes three corresponding components. MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN TO THE REPUBLIC OF COLOMBIA FOR A COMMUNITY CHILD CARE AND NUTRITION PROJECT 1. The following memorandum and recommendation on a proposed loan to the Republic of Colombia for US$24 million is submitted for approval. The proposed loan would be repayable over a period of 17 years, including five years of grace, at the Bank's standard variable interest rate. 2. Background. Over the past 25 years, Colombia has recorded significant economic gains, with recent growth on the order of 4 percent to 5 percent annually. Social progress has also been impressive over the last decades. Between 1964 and 1985, the population growth rate dropped from 3.7 percent to 1.8 percent; infant and maternal mortality declined appreciably (from 81 to 61 deaths per 1,000 live births, and from 254 to 107 deaths per 100,000 births, respectively); over 80 percent of the relevant age-group, equally divided between boys and girls, now attends primary school. Despite these advances, as captured in average country indicators, the distribution of economic and social benefits remains highly skewed. Incomes of the top 20 percent of households are six to seven times that of the bottom 20 percent, and severe poverty continues to affect some 20 percent of the population. The worst poverty is associated with urban slums. In these areas, services are typically inadequate and living conditions unhygienic; and child mortality is 50 nercent higher than elsewhere. A particularly heavy burden is placed on poor women and children: an estimated 25 percent of poor urban households is headed by women, and in this group children suffer disproportionately from illness, poor nutrition, neglect, and violence. 3. A major objective of the Government is to reduce poverty by means of policies and programs designed to raise the income-earning capacity of the poor. This anti-poverty orientation is based largely on a long-term strategy of human resource development through increased investment in health, nutrition and education services directed at the most vulnerable groups. Programs underway center on expanding and upgrading basic health services, including services tor maternal, pre-natal and infant care; and universalizing primary education. Another cornerstone of the initiative is a community-based program: Child Care Homes (HBIs), managed by the Colombian Institute for Family Welfare (I7EF). The HBIs provide day care, including feeding, early childhood education, and health monitoring for poor urban children, aged two to six. The HBI program is based on experience accumulated over ten years by different Colombian institutions, both public and private, with the assistance of UNICEF and non-governmental organizations (NGOs), and on broader evidence on the importance of appropriate nutrition, health services and early childhood development as determinants of future productivity and well-being. A central feature of the program, which helps maintain HBI unit costs around a third the cost of an older, center-based program of the ICBF, is its provision in indi-idual homes in the neighborhood operated by "community mothers". These women, chosen by the community, receive a modest stipend, a home improvement loan (to ensure minimum safety and sanitary conditions) and orientation in day care and nutrition. Communities participate through volunteer (including NGO) support, and through parents' associations and nominal contributions. Organized supervision of the home is also provided by the ICBF. Using this model of direct community participation, the ICBF mounted the HBI program on a broad scale in 1987. By mid-1989 it served some 500,000 - 2 - children, and by 1995 the Government plans to extend the HBI program to all urban children identified as being at risk--estimated at over 1,000,000--with annual targets set on the basis of performance reviews. 4. As reviewed in a 1988 Bank report (Social Programs and Poverty Alleviation: An Assessment of Government Initiatives, IBRD Report 7271-CO of December 2, 1988), the HBI program successfully reaches very poor urban children and mothers with day care, nutrition and pre-school development services. A 1989 evaluation, carried out by consultants to the ICBF, confirmed that the HBI program is a viable mechanism to reach this groul,. It also concluded that to ensure the continued effectiveness of the HBIs during expansion, ICBF must not only sustain strong community involvement, but also seek to guide the expansion with improved policies for finance and management. ICBF must ensure, for example, that all its child-care subsidies are targeted on the least well-off children and mothers. This will require a reduction in its support for its center-based day care program, which serves largely a middle income clientele. Foodstuffs procured tor the HBI program, in particular a local food supplement, Bienestarina, currently produced by the ICBF, will also need to be more economically provided; and the supply of Bienestarina, which has lagged behind demand, will need to be expanded. The scaling up of the program will further require institutional sttrngthening of ICBF for providing technical support for local program implementaticn, for planning and monitoring, and for conducting an impact evaluation with support from the National DepartmPnt of Statistics. In addition, selected improvements are required to enhance service delivery, notably in training, and in access to home upgrading credit for community mothers and basic health services for children attending HBIs. Management arrangements for the home upgrading also need to be further developed. The Government is refining the HBI program to address these issues. 5. Rationale for Bank Involvement. Bank assistance strategy for Colombia focuses on continued economic growth, combined with poverty alleviation, through policy adjustment and selective investments in key economic and social sectors. The proposed project supports this strategy through a focus on ICBF policy analysis, institutional development and enhancement of HBI service delivery effectiveness. The Bank has previously extended support for one nutrition and one health project 4n Colombia. An integrated nutrition project (Loan 1487-CO, 1977) met or exceeded physical targets, but was judged on completion as overly complex in design and weak in impact evaluation. A health project (Loan 2611-CO, 1986), designed to support decentralization of the public health system, encountered inefficiencies in coordination and execution among numerous participating agencies and was recently reprogrammed. These experiences have been taken into account in the proposed project. In addition to complementing the earlier operations in nutrition and health, the proposed project reinforces the objectives of a recent Bank loan which supports the Government's development program for primary education (Loan 3010-CO, 1989). 6. Project Objectives. The proposed project forms a key part of the Government's program to raise incomes among the poor and improve their well- being through cost-effective, targeted interventions. The project would contribute to this effort by strengthening the ongoing HBI program. The project is part of the Government's six-year expansion program for the HBIs (1990-95) and will: (i) improve the cost-effectiveness of ICBF operations; (ii) increase the technical support, planning, monitoring and evaluation capabilities of ICBF; and (iii) raise HBI quality as services double. It includes three corresponding components. - 3 - 7. Project Description. The policy component (US$0.4 million) comprises a study to determine future management and financing responsibilities, whether private, community, or other, for ICBF's center-based program of child care, which is insufficiently targeted on the poor. It also includes a measure to reduce ICBF budget support for this program by 30 percent by 1995. with tha reduction compensated by income-based user fees. It further incorporates a study to assess potential for the private production and marketing of Bienestarina. The management development component (US$2.7 million) includes equipment, materials and technical assistance to: develop and introduce an improved management information system (MIS) for planning and monitoring of the HBI program and other institutional improvements in the ICBF; conduct an HBI impact evaluation on a national scale using household survey techniques and National Department of Statistics' support; and strengthen HBI program coordination. The service support component (US$37.1 million) will provide systematic training for about 75,000 community mothers and other HEI participants; and HBI home upgrading for about 50,000 community mothers. The home-upgrading credits amount to less than US$750 per home, average about US$500, and are repaid in five years. A subsidized interest rate, amounting to about 45 percent of the commercial rate, is charged on the credits. Repayment is financed through direct deductions from the community mothers' monthly stipends. An alternative approach, based on grants, has not been adopted by the ICBF, which believes that the experience gained from borrowing and repaying the credit is valuable for the community mothers. The subsidy is efficiently targeted on the poor (urban women and children mainly in the two lowest income deciles) and is affordable in fiscal terms (peaking at a level of about US$1.0 million annually during 1990-93). 8. Overall HBI program coordination and implementation responsibility is assigned to the ICBF Office of Planning, under the guidance of the Director General, ICBF. This office has sufficient capacity to oversee the HBI expansion, demonstrated by successful and rapid growth of the HBIs since 1987. Though community participation would continue to be the cornerstone of program management, additional technical advisors are being appointed to ensure adequate coordination, and an experienced financial entity would be contracted to manage the home-upgrading credits. The HBI expansion program has an estimated cost of US$675 million equivalent during 1990-95 (April 1990 prices). The bulk of this represents the direct costs of HBI service delivery, to be financed by the ICBF. The project would finance key investment inputs of the program to ensure continued effectiveness. The total cost of the project is estimated at US$40.2 million net of taxes and duties, of which US$9.4 million is expected to be in foreign exchange. Retroactive financing, not to exceed 10 percent of loan proceeds, would be used for project start-up activities from June 30, 1989. Cost estimates and the financing plan are shown in Schedule A. Amounts and methods of procurement, and the disbursement schedule are shown in Schedule B. The timetable of key events of project processing is summarized in Schedule C. The status of Bank Group operations in Colombia is shown in Schedule D. A map of Colombia is attached. The Staff Appraisal Report No. 8028-CO, dated May 2, 1990, is also attached. 9. Actions Agreed. During negotiations, the Government agreed to conduct a joint, annual progress review centered on an agreed program of policy, institutional and HBI service support and delivery activities. This review would form the basis for joint Bank and Government agreement on succeeding annual plans and budgets for the program, including the project. The Government also agreed to submit, each year by November 30, the proposed HBI expenditure program for the following year for Bank review. During negotiations, the Government provided assurances that it would effect a real reduction of 30 percent in ICBF budget support for its center-based child-care program by 1995, and complete a study and time-bound action plan satisfactory to the Bank for effecting further changes in future financing and management for this program by June 30, 1991; complete studies anu time-bound action plans satisfactory to the Bank on ICBF structure and staffing, by June 30, 1991, and on the management, financing and marketing of Bienestarina, by December 31, 1991; and introduce the HBI impact evaluation and a new MIS for the ICBF by June 30, 1991. The Government further agreed that each child would be fully vaccinated prior to entering the HBI program and that criteria and arrangements satisfactory to the Bank for identifying and meeting additional basic health requirements of HBI children would be established by October 30, 1990. Finally, the Government agreed to ensure efficient execution and appropriate financing for the HBI program. Conditions for effectiveness would be the appointment of technical advisors for HBI program coordination; the formal adoption of a procedural manual satisfactory to the Bank for technical and financial management of the home upgrading component; and the formal authorization of a contract between ICBF and a financial entity with adequate experience to manage home-upgrading credits. 10. Benefits and Risks. Through the investment program for the HBIs, over one million of the country's poorest pre-school children will benefit from improved nutrition and health status and exposure to pre-school learning. The economic and social benefits of the approach are multiple. Investment in nutrition and early education for disadvantaged children will have direct impact on their capacity to take advantage of subsequent opportunities for schooling and employment. For the community mothers, the program will provide modest income and home improvement. For the mothers of the children enrolled in Lhe program, the option is available to seek additional remunerative employment. Finally, the program will serve as a catalyst for community participation and mobilization in support of other self-help strategies for health, education and slum improvement. 11. The major project risk is that the HBI program may outstrip the mana- gerial and financial capacities of ICBF, under the pressures of rapid expansion. The managerial risk will be minimized by ICBF's implementation of well-conceive? staffing plans and management procedures, by the designation of additional program coordinating staff, and by measures to strengthen community-level support and managerial capacity for the program. The financial risk will be reduced by the implementation of measures to improve ICBF efficiency and to target ICBF subsidies in favor of the poor and the HBIs, and away from higher- cost care. Moreover, any necessary adjustments in the rate of program expansion would be effected through the annual joint program reviews. 12. Recommendation. 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 Attachments Washington, D.C. May 2, 1990 -5- Schedule A COLOMBIA COMMUNITY CHILD CARE AND NUTRITION PROJECT ESTIMATED COSTS AND FINANCING PLAN Estimated Costs: a/ ------US$ Millions--------- Local Foreign Total A. Policy Development Bienestarina Study 0.2 0.0 0.2 Study on Ch4'ld Care Centers 0.1 0.0 0.1 Subtotal 0.3 0.0 0.3 B. Management Development Institutional Assessment 0.1 0.0 0.1 MIS 0.2 0.8 1.0 Evaluation 0.5 0.0 0.5 HBI Program Coord. 0.3 0.0 0.3 Other studies 0.3 0.0 0.3 Subtotal 1.4 0.8 2.2 C. HBI Service Support Training 7.5 2.5 10.0 House Upgrading 15.1 5.0 20.1 Subtotal 22.6 7.5 30.1 Total base costs 24.3 8.3 32.6 Physical Contingencies 0.2 0.1 0.3 Price Contingencies 6.3 1.0 7.3 Total Project Costs 30.8 9.4 40.2 a/ Exclusive of taxes and duties, which are negligible. Financing Plan: ----------- US$ Millions ---------- Local Foreign Total Government of Colombia 16.0 0.2 16.2 IBRD 14.8 9.2 24.0 Total 30.8 9.4 40.2 -6- Schedule B Page 1 of 2 COLOMBIA COMMUNITY CHILD CARE AND NUTRITION PROJECT PROCUREMENT ARRANGEMENTS (US$ Million) Project Element ICB LCB Other NA Subtotal Home Upgrading Credits 24.6 24.6 (12.6) (12.6) Equipment 2.0 0.7 0.5 3.2 (2.0) (0.2) (0.2) (2.4) Printed Materials 1.6 0.6 0.4 2.6 and Supplies (0.5) (0.2) (0.1) (0.8) Training 8.2 8.2 (6.6) (6.6) Technical Assistance 1.6 1.6 (1.6) (1.6) Total 3.6 1.3 35.3 40.2 (2.5) (0.4) (21.1) (24.0) Note: Figures in parentheses represent Bank loan financing. Technical assistance includes program coordination as well as studies and evaluation. -7- Schedule B Page 2 of 2 COLOMBIA COMMUNITY CHILD CARE AND NUTRITION PROJECT ALLOCATION OF LOAN PROCEEDS (US$ Millions) Disbursement Category Loan Amount Percentage 1. Home Upgrading Credits 11.7 51 2. Equipment, Materials Printing and Supplies 2.9 100 Foreign 30 Local 3. Training 6.1 80 4. Technical Assistance 1.4 100 5. Unallocated 1.9 Total 24.0 -------------------------------------------------------------------- ESTIMATED DISBURSEMENTS (US$ Millions) Bank Fiscal Year 1991 1992 1993 1994 1995 1996 Annual 1.2 .2.4 5.3 6.0 5.3 3.8 Cumulative 1.2 3.6 8.9 14.9 20.2 24.0 -8- Schedule C Page 1 of 1 COLOMBIA COMMUNITY CHILD CARE AND NUTRITION PROJECT TIMETABLE OF KEY PROJECT PROCESSING EVENTS Time needed to prepare: One year Prepared by: ICBF with Bank assistance First Bank mission: October 1988 Appraisal mission departure: May 29, 1989 Date of Board presentation: May 1990 Planned date of Effectiveness: August 1990 List of relevant PCRs and PPARs: Integrated Nutrition Improvement Project (PPAR No. 7180 of April 1988) -9- Schedule D Page 1 of 2 STATUS OF BANK OPERATIONS A. STATEMENT OF BANK LOANS AND IDA CREDITS IN COLOMBIA (as of December 31, 1989) Loan or Amount (less cancellations) Credit Fiscal Disbursed Undis- Number Year Borrower Purpose Bank IDA bursed Total (In millions of U.S. dollars) 101 fully disbursed loans and one IDA credit 3,520.4 23.5 1/ 3,543.9 1953 1981 EPM Power 52.8 32.2 85.0 2008 1981 EEEB Power 356.5 2.5 359.0 2121 1982 Fondo Vial Highways 149.1 0.5 149.6 2174 1982 Govt. Rural Development 31.1 21.9 53.0 2303 1983 ICA Agricultural Research 52.4 11.0 63.4 2349 1983 Carbocol Coal Exploration 5.7 2.1 7.8 2449 1984 EPM Power & Water Supply 58.2 106.3 164.5 2453 1984 Fedecafe Agric. diversification 44.5 5.5 50.0 2470 1984 EMC Water Supply 8.4 10.1 18.5 2476 1984 Ecopetrol Petroleum 106.9 23.1 130.0 2477 1984 B.de la Rep. Development Banking 79.0 11.0 90.0 2512 1985 EAAB Water Supply 57.8 71.2 129.0 2611 1985 Govt. Health Services 9.1 27.4 36.5 2634 1985 EEEB Power 37.0 134.0 171.0 2635 1985 Colpuertos Port Rehabilitation 16.2 26.6 42.8 2637 1985 EPM B/quilla Water Supply 14.7 9.3 24.0 2667 1986 HIMAT Ircigation 30.9 83.1 114.0 2668 1986 Cavecinales Rural Transport 50.6 11.4 62.0 2677 1986 Govt Tr.& Agri:ulture Policy 249.2 0.8 250.0 2829 1987 Fondo Vial II Highwa) 81.1 99.2 180.3 2889 1988 Govt Power Sector 225.0 75.0 300.0 2909 1988 Caja AgraLia Caja Agraria 2.8 12.2 15.0 2961 1988 BCH Water Supply Sector 15.0 135.0 150.0 3010 1988 Govt II Primary Education 2.6 97.4 100.0 3025 1989 Bco.de la Rep. V Sm/Medium Sc.Enterp. - 80.0 80.0 3131 1990 Govt. Small Scale Irr.. - 78.2 78.2 TOTAL 5,107.9 23.5 1,166.6 6,297.9 Of which has been repaid 2,023.0 8.3 Amount sold 51.0 - Of which has been repaid 51.0 Total now outstanding 3,033.8 15.2 (Exchange Adjustment B-Loans) .4 Total now held by Bank and IDA 3,033.8 15.2 Total undisbursed 1,166.6 1,166.6 1/ Includes exchange adjustment of US$4.0 million. Schedule D Page 2 of 2 B. STATEMENT OF IFC INVESTMENTS (as of January 31, 1990) Fiscal Yr Obligor Type of Business Loan Equity Total (In millions of U.S. dollars) 1959 Laminas Caribe Fireboard 0.50 0.50 1960/65 Ind.Al.Noel Food&Food Proc. 1.98 0.08 2.06 1961 Envases Col. Metal Cans 0.70 0.70 1961/68 Morfeo Prod. Home Furn. 0.08 0.09 0.17 1961 Electromanuf. Electrical Eq. 0.50 0.50 1962/85 Corp.Fin.Col Develp.Finance 6.00 2.02 8.02 62/63/85 Corp.Fin.Nac. Develp.Finance 6.00 2.04 8.04 1963/67 Com p.Col. Textiles/Fibres 1.98 0.15 2.13 68/69 de Tejidos 1964/70 CorpFinCaldas Develp.Finance 0.81 0.81 1964/68 Forjas de Col. Iron Steel 1.27 1.27 1966 Almaviva Warehousing 1.00 1.00 1966 Ind.Ganadera Livestock 1.00 0.58 1.58 67/70/74 Enka de Col Textiles/Fibres 58.31 2.61 60.92 85/86/87 1969 CoDesar Hoteles Tourism 0.01 0.01 1969/73 Corp.Fin Norte Dev. Finance 0.45 0.45 1969/85 CorpFin Valle Dev. Finance 6.00 0.43 6.43 1970 PromHotTurMed. Tourism 0.23 0.11 0.34 1970/77 Pro Hoteles Tourism 0.80 0.24 1.04 1973,'75 CorpAhorro/Vda. Money/CapMrkt. 0.46 0.46 1974 Cemts.Boyaca Cement & Const. 1.50 1.5. 1974 Cemts.Caribe Cement & Const. 3.60 3.66 1976 MineraLasBrcaq Mining asbestos 6.00 6.00 1977 Promotora de Utilities -Gas 23.00 2.00 25.00 lasoductos de la Costa Atlantica 1977/80 Colclinker Cement 0.49 2.24 2.73 31/85/87 LeasingBolivar Equipment Lsg. 14.00 0.22 14.22 1983 Frigor.Col Cold Storage .86 0.72 1.58 1981/82 Petrocol Petro chem 12.15 3.86 16.01 1984/87 Carb.Caribe Energy 14.78 14.78 1984 Cem.Rio Claro Cement 22.47 5.00 27.47 1986 A.Ban Fdo.Expl. Energy 5.00 5.00 1987 Prod.der.Sal Chemicals 6.00 1.18 7.18 1987 PromGasoducto Chemicals 0.04 0.04 1988 Corp.Fin Valle Dev. Finance) 1989 Corp.Fin Valle Dev. Finance) 5.00 4.78 9.78 Total Gross Commitments 194.93 36.39 231.32 Less cancellations, termina- tions, repayments and sales 122.23 17.87 140.03 Total commitments now held/IFC 72.70 18.59 91.29 Total undisbursed (including participants) 82.40 6.81 89.21 IBRD 18370R 78* 74 cuBA JAMAICA HAITI DOMIICAN REP . COLOMBIA 12-- RICA ' ' VENEZUELA PANAMA \ IR GUIANA Barrang,o }~ .UECUADt \ CrTIogeo i Volledvo J -/C 8 R A 1 Pouv II SOLIVIA I s PARAGAY PANAMA \TARGENTINA I 8- B ýi I - B\ rranc ,ba' -do NE u Ø A Ai V N ZUL. - I -j- -0'~ Eogo A D t Urbon Popviation o( Center To*ns E Ieýot,ons (-EIE,s~\~______________ 5.00O000 De,5 so, 0 0 0IO 150 20C 2SC -~-- 2.000 000 3.000 K-L~OME TE RS - ' 10000 000 500.000 n Natonal Cop-tl o C es o nd Towns w-th Popvior, Over 4Q000 --v'Es C E R U UbnP o oepo ent. Intendencloo nd Corn isr a Boundaries Intern ton al 5 05ndor0es5 2 5 , 7,6* - -7.0 000- NOVEMBER 8