India - Technician Education Project

Document of The World Bank FOR OFFICIAL USE ONLY A 73/qsS-/IAI Repwt N. P-5248-IN MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR ktECONSTRUCTION AND DEVELOPMENT AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$25.0 M. .LION AND A PROPOSED CREDIT OF SDR 178.2 MILLION (US$235.0 MILLION EQUIVALENT) TO INDIA FOR A * TECHNICIAN EDUCATION PROJECT APRIL 10, 1990 lims doaumot has a restricted distribution and may be used by recipients ooly In the performance of thber offiial dute Its cootents may not otherwise be diclosed without World Bank authorization.  I -X CURRENCY EQUIVALENTS Rupee 16.5 - US$ 1.00 Rupee 1.00 - US$ 0.060 WEIGHTS AND MEASURES 1 Meter(m) = 3.28 Feet (ft) 1 Kilometer (km) = 0.62 Miles FISCAL YEAR APRIL 1 - MARCH 31 ABBREVTIATIONS AICTE - All India Council for Technical Education BTE - Bureau of Technical Education DOE - Department of Education, Ministry of Humn Resources Development DTE - Directorate of Technical Education GOI - Government of India IAMR - Institute of Applied Manpower Research IIT - Indian Institute of Technology ITI - Industrial Training Institute MHRD - Ministry of Human Resources Development NTHIS - National Technical Manpower Information System NPE - National Policy on Education, 1986 TTTI - Technical Teacher Training Institute  FOR OFFICIUL USE ONLY INDIA TECHNICIAN EDUCATION PROJECT Loan/Credit and Project Summary Borrower: India, acting by its President. Beneficiariess Governments of Bihar, Gujarat, Karnataka, Kerala, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh Amounts: IBRDs US$25.00 million equivalent. IDAs SDR 178.2 million (US$235.0 million equivalent). Terms: IBRD: 20 years, ancluding 5 years of grace, at standard variable interest rate. IDA: Standard, with 35 years maturity. On-lendins Termss Government of India (GOI) to Bihar, Gujarat, Karnataka, Kerala, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh: In accordance with standard arrangements for development assistance to States for the development of technical education projects on terms and conditions applicable at the time. Local Foreign Total -------US$ Million------- Financing Plan: IBRD/IDA 158.76 101.24 260.00 OI 16.68 - 16.68 States 106.03 - 106.03 Total Project Cost 281.47 101.24 382.71 * Including Taxes and Duties of US$11.2 million. Ecomomic Rate of Return: Not Applicable * Staff Ahpraisal Report: Report No. 8384-IN: dated April 3, 1990 MaPt IBRD No. 22008 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 authorizatki n.  MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN AND A PROPOSED CREDIT TO INDIA FOR A TECHNICIAN EDUCATION PROJECT 1. The following memorandum and recommendation on a proposed loan and credit to India is submitted for approval. The loan would be for US$25.0 million equivalent and would have a term of 20 years, including 5 years of grace with a standard variable interest rate. The credit, for SDR 178.2 million (US$235.0 million equivalent), would be on standard IDA terms. The loan and credit will help finance a Technician Education project in the States of Bihar, Gujarat, Karnataka, Kerala, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh. 2. Background. Industrial manpower in India is developed through public and privately financed education and training institutions, apprenticeship- type training, and in-plant training. At the apex of the public system are five indian Institutes of Technology (IITs) which offer undergraduate and graduate programs in engineering with a total annual admission of about 1,300 students. At the next tier, there are 17 Regional Engineering Colleges and 272 State Engineering Colleges (SECs) with a comrined admission capacity of 64,900 students. There are 767 Polytechnics with a total annual intake capacity of 115,000 which provide three-year diploma courses in civil, mechanical and electrical engineering at the next level. Teachers at the Polytechnics are trained at the four centrally-financed Technical Teacher Training Institutes (TTTIs). Craftsman-level certificate courses are offered to about 325,000 students annually through 1,887 Industrial Training Institutes (ITIs). Lastly, there are about 1,500 Vocational Schools offering certifica.e courses to about 72,000 students each year. 3. Despite the impressive number of training institutions, enrollment capacity and the fact that India has the third largest pool of technicians in the world, its technician education syster su-.fers from a variety,of problems. First, the quality of training is poor. Over 60? of the teachers at Polytechnics would benefit from some form of pedagogic training. In addition, there are difficulties in attracting, training, and retaining competent staff, especially in the newer areas such as computers and electronics. Vacancy rates stand at around 30? at the Polytechnics. The lack of properly equipped laboratories and up-to-date equipment also hampers the quality and implementation of curricula. Finally, rigidities in the curricula and structure of technician training programs, and the system's failure to respond to the needs of industrial and informal sector clients have also hampered quality and relevance. The internal and external efficiency of the system also needs improving. While dropouts are not a major problem, repeaters clog the system. As regards external efficiency, private employers are reluctant to recruit employees from low quality institutions. Linked to this, about 732 of all technician graduates from the public system find employment in the Government sector rather than in the informal and private sectors where more than 70? of all employment opportunities are located. Underemployment of technicians is also prevalent. 4. Government Policies and Plans. Under India's new National Policy on Education which was formulated in 1986, technical education is to be reorganized to become more responsive to the expansion of science and technology and the needs of the rural sector. Six programs are to be given  - 2 - special emphasis during the Eighth Five-Year Plan (1990-94). The first is the removal of obsolescence and introduction of new technologies and disciplines. Second, more attention is to be given to the recruitment, training, career opportunities, service conditions and other perquisites for teaching staff. Third, institutions would be encouraged to generate resources by providing services to the community and industry. Fourth, the All India Council for Technical Edacation (AICTE) with its powers of accreditation vested in the National Board of Accreditation (NBA), would regulate the quality of programs offered in the whole system, as well as the growth of the private capitation- fee charging technician training institutions. Fifth, a National Technical Manpower Information System (NTMIS) is to be established, and sixth, the management of technical education at the Center and in the States is to be strengthened. 5. Bank/IDA Experience in the Sector. IDA has supported only two education projects in India. The first was a Credit of US$ 12.0 million which was approved in 1973 to assist agriculture education and research at Assam Agriculture University, Rajendra Agriculture University in Bihar, and the Institute of Agriculture Research in New Delhi. The project was closed in 1982 and the Project Performance Audit Report (PPAR) noted that most of the objectives of the project had been achieved. The project however, suffered serious implementation delays because of civil unrest in Assam and project design limitations. The second project was approved by the Board in May 1989. It is a Vocational Training project and concentrates on the qualitative improvement of pre- and in-service training of skilled workers at Industrial Training Institutes (ITIs). The proposed technician education project would complement this operation by training supervisory level technicians who would work closely with the skilled workers trained in the ITIs. It takes into account the lessons learned from the first project as special emphasis has been given to the detailed physical and academic planning for new Polytechnics. 6. Rationale for Bank Involvement. Industrial development is the main focus of IndJa's present economic development strategy. To support that strategy, the Government's investment program in technician education would lead to adjustments in policies, institutional changes, and the introduction of new courses in technician education and training programs. Bank Group assistance would therefore support policy reform, institutional development and new technology dissemination in the technician education system. A second rationale for the Bank's involvement is that the proposed project provides an entree to the Department of Education and the formal education and training system. The Bank's involvement with the financing of technician education will assist our dialogue with the Government of India (GOI) not only on the specific issues that affect technician education and training, but also on the key issues of State and Central Government financing of education including primary education and teacher training programs. A third rationale for Bank involvement is that the Government places emphasis on human resources development especially for women and this emphasis coincides with the Bank's priorities. 7. Proiect Objectives and Description. The Department of Education (DOE) outlined a Ten-Year (1990-99) two-phase Technician Education Investment Program with an estimated cost of about US$1.86 billion in 1987, as a part of the detailed Program of Action arising out of the new National Policy on Education. The proposed project would be a part of this program and would have three major objectives: Capacity EXpansion which would be achieved by  - 3 - expanding and diversifying programs in about 502 of the Polytechnic system or about 230 new and existing institutions, so that they can undertake courses in new and emerging technologies, conventional and advanced technician engineer- ing, and continuing educatiot diploma courses. These courses would be implemented with flexibility which would be achieved with the introduction of the Multi-Point Entry and Credit System which is a major reform of the current rigid three-year diploma system. Special attention would also be given to expanding and improving training opportunities for women, rural populations and the handicapped by establishing a selected number of new Women's Residential Polytechnics, upgrading the existing Women's Polytechnics, expanding the number of Community Polytechnics, and establishing a Polytechnic for the Physically Handicapped. Qualitv Improvement would be achieved through modernizing the equipment and facilities of Polytechnics, expanding teacher training by reorganizing the Technical Teacher Training Institutes to become Regional Resource Centers, introducing a career development system for teaching staff, and undertaking curriculum development and renewal activities through the respective State Boards of Technical Education in each of the eight States. Efficiency Improvement would result from strengthening the Bureau of Technical Education (BTE) in the Department of Education at the center and the State Directorates and Boards of Technical Education, granting academic autonomy to selected Polytechnics, undertaking Industry-Institute programs in each Polytechnic, and establishing equipment and facility maintenance systems. 8. The total project cost is estimated at US$382.71 million; the proposed Bank loan of US$25.0 million equivalent and IDA credit of US$235.0 million equivalent would together cover about 701 of costs, net of taxes, including all foreign costs and about 56S of the local costs. The Government of India (GOI) and the States would finance the remaining US$111.51 million and all taxes and duties. A breakdown of costs and the financing plan are shown in Schedule A. Retroactive financing of up to US$5.0 million would be provided for eligible expenditures made after July 31, 1989. Amounts and methods of procurement and of disbursements and the disbursement schedule are shown in Schedule B. A Timetable of Key Processing Events and the Status of Bank Group Operations in India are given in Schedules C and D. A map is also attached. The Staff Appraisal Report, No. 8384-IN, dated April 3, 1990 is being distributed separately. 9. Agreements Reached. GOI and the States provided assurances that: (a) no new publicly funded Polytechnics would be opened in the project States without * the approval of the AICTE; (b) adequate budgetary provisions wc-ld be made to Maintenance Cells for the maintenance of buildings and equipmen. and appropriate financial powers would be delegated to principals to undertake * annual maintenance programs; (c) efforts would be made to recover the full costs of programs being run by the Polytechnics for public and private sector industry and internal revenue generation activities in Polytechnics would be enhanced; (d) the TTTIs would recover the costs for teacher training and other services rendered to the States, and would apply these funds ror their operating costs; (e) the staffing of the reorganized State Directorates and Boards of Technical Education and the Bureau of Technical Education and Polytechnics would be completed substantially in accordance with a Key Additional Staffing Plan agreed with the Bank Group; and t,aining would be linked to a faculty development program of teachers in the Polytechnics; (f) the plan for the phased introduction of flexible curriculum and entry requirements to Polytechnics would be reviewed annually with the Bank Group; and (g) Industry-Institute programs acceptable to the Bank Group would be  - 4 - developed and implemented, Advisory Groups and Industrial Liaison and Placement Officers would be appointed to each Polytechnic, and concurrent efforts would be started to identify suitable employment opportunities for women as new trades are introduced in the co-educational and Women's Residential Polytechnics. 10. Benefits and Risks. A major benefit of the proposed project is that it would provide the industrial sector with engineering technicians of suitable quality in the areas of civil, mechanical, electrical, computer and electronics technologies. The emphasis to be given to, and the promotion of continuing education and distance learning programs, means that there is a recogn4tion that the system must also serve the rural and informal sectors. The expanded program for women, rural populations and the ptrysically handicapped means that priority attention is being given to the truely disadvantaged. Ultimately, the major benefit of the project beyond numbers of students trained is that it would assist in the reformation of policies that previously constrained the system, it would support the institutional development processes which facilitate the ability of the system to respond to a rapidly changing environment, and it would uake a major contribution to the technology transfer objective which is a key aspect of development. The major risk concerns the ability of individual States to undertake integrated programs of both policy reform and physical development. That risk would be mitigated by the detailed Action Plans which have been prepared by the States, the Detailed Project Reports (DPRs) preps ed by each Polytechnic, by enhancing the staffing of the Directorates and Boat4s of Technical Education in implementing States and by the assistance the TTTIs and BTE would provide in project implementation and supervision. 11. There are no particular fiiancial and environmental sector issues in this project. However, specific attention is being given to including environmental concerns into the ca.rriculum of the Polytechnics and in the training of teachers. 12. Recommendation. I am satisfied that the proposed loar ad credit will comply with the Articles of Agreement of the Bank and of t) ssociation, and recommend that the Executive Directors approve the proposea oan and credit. Barber B. Conable President Attachments Washington, D.C. April 10, 1990  Schedule A INDIA TECHNICIAN EDUCATION PROJECT Estimated Costs and Financing Plan Estimated Costs components Local Foreign Total ---------- --US$ million----------- Capacity Expansion 103.87 29.73 133.60 Quality Improvement 127.11 42.89 170.00 Efficiency Improvement 41.02 6.25 47.27 Total Base Cost 272.00 78.87 350.87 Contingencies 9.47 22.37 31.84 Total Project Cost* 281.47 101.24 382.71 * Including taxes and duties of US$11.2 million. Finaneing Plan (US$ million) IBRD/IDA 158.76 101.24 260.00 00I 16.68 - 16.68 States 106.03 - 106.03 Total 281.47 101.24 382.71  INDIA Schedule B TECHNICIAN EDUCATION PROJECT Procurement Method and Disbursements (US$ Millions) Procurement Method Categories of US$ Millions Total Expenditure ICB LCB Other NA Cost Civil Works - 128.15 25.00 - 153.15 incl. Prof. Fees (87.07) (16.99) (104.06) Furniture - 9.69 2.40 - 12.09 (6.65) (1.65) (8.30) Equipment & Vehicles 50.00 35.00 15.07 - 100.07 (50.00) (23.09) (9.94) (83.03) Books & Instructional - - 7.79 - 7.79 Materials (5.19) (5.19) Local Consultants - - 1.66 - 1.66 (1.33) - (1.33) Foreign Consultants - - 1.07 - 1.07 (0.86) - (0.86) Local Fellowships - - - 6.55 6.55 (incl. Scholarships for Girls) (5.2!i) (5.23) Foreign Fellowships - - - 4.40 4.40 (3.52) (3.52) Salaries of - - 76.27 76.27 Additional Staff (38.54) (38.54) Incremental - 2.00 17.66 19.66 Operational Costs _(1.03) (8.92) (9.95) TOTAL 50.00 172.84 54.99 104.88 382.71 Bank/IDA 50.00 116.80 36.99 56.21 26,.00 Goi - 2.24 3.36 11.08 16.68 States _ 53.80 14.64 37.59 106.03 Disbursements Disbursement Z of expenditures Category amount to be disbursed Civil works, furniture, vehicles, 200.58 702 of expenditures. equipment, books and materials 100? of CIF and exfactory or 70S of other local expenditure. Consultant Services and Training 10.93 802. Incremental Operational Costs 48.49 Average S0? on a declining scale. 2/ Total 260.00 Estimated Disbursements Bank FY FY91 FY92 FY93 FY94 FY95 FY96 FY97 FY98 Annual 11.00 27.57 40.39 46.28 44.91 40.88 34.01 14.96 Cummulative 11.00 38.57 78.96 125.24 170.15 211.03 245.04 260.00 1/ Not Applicable. 21 Declining scale: FY91 upto FY94 at 65S; and at 40? thereafter.  Schedule C INDIA TECHNICIAN EDUCATION PROJECT Timetable of Key Project Processing Events (a) Timetable to Prepare X Two years (b) Prepared by : GO! and the State Governments of Bihar, Gujarat, Karnataka Kerala, Madhya Pradesh, Orissa Rajasthan and Uttar Pradesh. (c) First Bank/IDA Mission : April 1988 (d) Appraisal Mission Departure : January 15, 1990 (e) Negotiations t March 9-12, 1990 (f) Planned Date of Effectiveness : September 1990 (g) List of Relevant PCRs and PPARs : Project Performance Audit Report: India - First Education Project (Cr.342-IN), No.5668 (May 23, 1985)  SCHEOULE D PAGE I of 4 THE STATUS OF BANK GROUP OPERATIONS IN D1DA A. STATEUFNT QF ANK LOANS ND IDA CREam (a of September 80, 1989) USt Million (net of cancellations) Loan or Fiscal Year -- -- -------------- ------- .-- Credit No. of Approval Purpos I3R IDA 1/ Undicbursed 2/ 68 Loans/ 4167.0 - 144 Credits fully disbursed - 9973.2 1008-IN 1980 Tam)l Nadu Nutrition - 82.0 1.69 a/ 1011-IN 1980 Gujarat Irrigation II - 176.0 18.60 a/ 1027-IN 19R0 Singraull Thermal II - 800.0 7.16 */ 1887-IN 1980 Farakka Thermal Powtr 25.0 - 22.48 a/ 1138-IN 1981 M.P. Agricultural Ext. II - 87.0 3.75 */ 1172-IN 1982 Korba Thermel Powr II - 400.0 40.66 1177-IN 1982 Madhys Pradesh Major Irrigation - 220.0 86.79 1178-IN 1982 West Bongal Social Forestry - 29.0 9.77 2076-IN 1982 Ramagundam Thermal Poer II 800.0 - 64.89 1219-IN 1982 Andhra Pradesh Agricultural Ext. - 6.0 0.34 a/ 2186-IN 19S2 Kallada Irrigation 20.8 - 0.23 */ 1280-IN 1983 Gujarat Water Supply - 72.0 45.09 1286-IN l98S Jammu/Kashmir and Haryana Social Forestry - 83.0 9.08 1288-iN 1983 Chambal Madhya Pradesh Irrigltion II - 81.0 2.77 / 2210-IN 1983 Railways Modernization A Maintenance II 200.0 - 26.72 1319-IN 1983 H4ryana Irrigation It - 160.0 50.63 1832-IN 1983 U.P. Public Tubewells I - 101.0 15.61 1356-IN 1983 Upper Indravati Hydro Power - 170.0 73.82 2278-IN 1988 Upper Indravati Hydro Power 166.4 - 166.01 1369-IN 1988 Calcutta Urban Development III - 147.0 98.48 2288-IN 1983 Central Power Transmission 250.7 - 210.26 2296-IN 1983 Hinalyan Watershed Management 46.2 - 32.94 1838-IN 19883 Mhareshtra water Utilization - 82.0 7.93 2308-IN 1983 Maharashtra Water Utilization 22.7 - 22.64 2329-IN 1983 Madhya Pradesh Urban 24.1 - 18.69 1424-IN 1984 Rainfed Areas Waterhed Dev. - 81.0 31.84 1426-IN 1984 Population III - 70.0 47.09 1432-IN 1984 Karnataka Social Forestry - 27.0 12.74 2887-IN 1984 Nhava Shove Port 250.0 - 53.41 2398-IN 1984 Oudhichua Coal 151.0 - 91.91 2403-IN 1984 Cambay Basin Petroleum 218.5 - 104.95 2415-IN 1984 Madhya Pradesh Fertilizer 203.6 - 45.83 1454-IN 1984 Tamil Nadu Water Supply - 86.5 26.41 SF-12-IN 1984 Tamil Nadu Water Supply - 86.6 45.03 1468-IN 1984 Perlyar Vaigal II Irrigation - 17.5 0.79 SF-1i-IN 1984 P*tryar Valgal iI Irrigation - 17.6 14.05 1483-IN 1984 Upper Gangs Irrigation - 125.0 116.72 1496-IN 1984 Gujarat Medium Irrigation - 172.0 118.80 2416-IN 1984 Indira Sarovar Hydroelectric 17.4 - 12.60 SF-20-IN 1984 Indira Sarovar Hydroelectric - 138. 16.95 1183-IN 1985 Indira Sarovar Hydroelectric - 18.2 15.82 2417-IN 1984 Railways Electrification 280.7 - 120.63 2442-IN 1984 Farakka II Thermal Power 800.8 - 236.19 2462-IN 1984 Fourth Trombay Therml Powr 186.4 - 24.21 15;2-IN 1984 National Cooperative Development Corporation III - 220.0 1683.08 1514-IN 1985 Kerata Social Forestry - 81.8 28.22 1623-IN 1985 National Agric. Extension I - 89.1 41.86 1644-IN 1986 Bombay Urban Development - 188.0 124.90 a/ Final disbursments being processed.  _ 9 SCHEDULE 0 PAGE 2 of 4 USS Million (net of cancellations) Loan or Fiscl Year -- -----,- ------ Credit No. of Approval Purpose IBRD IDA 1I Undisbureed 2/ 2497-IN 19W Naarda (Cu]art) DOm an Power 200.0 - 200.00 152-IN 1985 N rad (u]rat) D ad Power - 100.0 90063 155S-6N 198 Narda Cuarat Canal - 160.0 169.96 1S09-IN 1985 Second Natlial Agricultural Ext. 49.0 41.78 1l11-IN 1985 National Snocie Forestry - 10 6.0 181.60 2498-IN 1085 JhFar Coklng Coal 248.0 - 205.16 250-IN 198S Maharashtra Ptrochtmicalu 800.0 - 67.64 2584-IN 1985 Second Natoanl KighwNy 200.0 - 159.00 2544-IN 1985 Chandrapur Therml Power 800.0 - 199.01 2555-IN 1985 Rthand Power Transmission 250.0 - 118.48 25682-IN 1985 Kerala Powr 176.0 - 168.95 16109-IN 1906 West Bengal Minor Irrigation - 0.0 121.18 1821-IN 1986 bhuaroshtra Composite Irrigation - 160.0 189.81 1822-IN 1986w Krala ~'*tor Supply and Sanitation - 41.0 44.02 1628-IN 1088 West Bengal Population - 51.0 48.71 1681-IN 198B National Agricultural Reserch II - 72. 72.86 2820-IN 1086 Industrial Export Dev. Finance 90.0 ^ 65.99 2680-IN 1S86 ICICI-Indus. Exp. Dev. Finance 160.0 - 97.53 1648-IN 1086 Cujarat Urban - 62.0 67.57 265S-IN 1s"6 NABARD I 875.0 - 57.49 2660-IN 1986 Coment Industry 165.0 - 100.60 2681-IN 1986 ICICI - Cement Industry 85.0 - 25.91 1665-IN 1986 Andbra Pradesh II Irrigation - 140.0 157.46 262-IN 1986 Andhra Pradesh II Irrigation 181.0 - 131.00 2674-IN 1986 Combined Cycle Powr 486.0 - 194.06 279-IN 1986 Cooperative Fertilizer 150.2 - 6.96 278IN 1986 Cooperative Fertilizer 145.0 - 66.97 1737-IN 1987 Bihar Tubells - 68.0 66.52 2769-IN 1987 Bombay Water Supply A Seworage III 40.0 - 40.00 17S0-IN 1987 Bombay Water Supply & Sewerage III - 145.0 118.36 1754-IN 1987 National Agric. Extension III - 86.0 77.43 1757-IN 1987 Cujarat Rural Rodsd - 119.6 119.34 1770-IN 1987 National Water Management - 114.0 ooe.65 2785-IN 1987 Oil India Petroleum 140.0 115.42 2796-IN 1987 Coal Mining A Quality Improvement 840.0 - 151.75 2813-IN 1987 Tlocommunitions IX 827.0 - 192.88 2797-IN 1987 Uttar Pradesh Urban Dovelopmont 20.0 - 20.00 1780-IN 1987 Uttar Pradsh Urban Development - 130.0 120.16 2827-IN 1987 Karnataka Power 880.0 - 814.48 2844-IN 1987 National Capital Por 486.0 - 403.29 2845-IN 1987 Talcher Thermal 876.0 - 360.63 2846-IN 1987 Madras Water SupplJ 68.0 - 63.00 1822-IN 1987 Madras Water Supply - 16.0 6.'0 2898-IN 1988 National Dairy II 200.0 - 200.00 18S9-IN 1988 National Dairy Il - 160.0 103.70 2904-IN 1988 western Gas Developmnt 288.8 - 194.31 2928-IN 1988 Indus. Fin. A Tech. Ast. 860.0 - 300.80 2929-IN *988 Housing Dev. Financo Corp. 250.0 - 124.95 2935-IN 1988 Railway Modernization II! 390.0 - 360.00 2938-IN 1988 Karnatake Power II 260.0 - 239.69 29057-N 1088 Uttar Pradesh Power 8s0.0 - 324.70 1928-IN 1988 Tamil Nadu Urban Dev. - 800.2 247.41 1931-IN 1988 Bombay A Madras Population - 57.0 49.54 2994-IN 1989 States RoadS 170.0 - 170.00 1969-IN 1989 States Roads - 80.0 61.64 3024-IN 1989 Nathpa Jhakri Power * 486.0 - 485.00 1962-IN 1989 National Seeds III * - 150.0 138.S4 3044-IN 1989 Petrolem Transport * 340.0 - 340.00 2008-IN 1989 Vocational Training - 250.0 215.S7 3045-IN 1989 Vocational Training 80.0 - 30.00 2010-IN 1989 Upper Krishna Irrigation ll - 160.0 133.24 3060-IN 1989 Upper Krishna Irrigation ll 165.0 - 160.00 8058-IN 1989 Export Development 120.0 - 120.00 8069-IN 1989 ICICI - Export Dovelopment 175.0 - 175.00  SCHEDULE D -10- PACE 8 of 4 USS Mil li on (net of cancellations) Loan or Fitcl Year ------------------------------ Credit No. of Approval Purpose Mo IDA 1/ Undisbursed 2/ 2022-IN 1989 National Sericulture - 147.0 145.18 SOC6-IN 1989 National Serlculture a0.0 - 80.00 8098-IN 1989 Eloctrontes Industry 0Ov. 6.0 - 8.00 8094-IN 1698 ICICI - Eloctronics Ind. Oev. 101.0 - 101.00 S095-IN 1909 IDOBI - Electronies Ind. Dev. 101.0 - 101.00 S098-IN 1909 Maharoahtra Powr . 400.0 - 400.00 2057-IN 1989 Nat'l. Family Welfare Trag. * - 118.8 111.24 S108-IN 1989 Nat'l. Family Welfare rng. e 11.8 - 11.30 Total 16504.6 16081.8 12805.8 of which has ben rpid 2239.8 M01I Total now outstanding 14265.8 15575.2 Amount Sold 188.8 of which has been repaid 183.6 Total now hold by Bank and IDA 8/ 14265.8 15675.2 Total undeisbursed (excluding o) 7867.4 3962.3 1/ IDA Credit amounts for SDR-denoeinated Credits are expressed In terms of their US dollar equivalents, as established at the time of Credit negotiations and as subsquently presented to the Board. 2/ Undisbursed amounts for SR-denominated IDA Crodits are derived from cumulative disbursements converted to their US dollar equivalents At the SOR/US dollar exchange rate in effect on September 30, 1989, while original principal Is based on tho exchange rate in effect at negotlations. This accounts for the fact that in some cases the undisbursed balance as shown In US9 equivalent it higher than tho original principal. 8/ Prior to exchange adjustment. N Not yet effective.  - 11 - SCHEDULE D PAGE 4 Of 4 B. STATEMENT OF IFC INVESTMENTS (As of Septmer 80, 1989) Amount (USo I ioo) Fiscal Year Compeny Loan Equity Total 1959 Repubile Forgo Company Ltd. 1.5 - 1.5 1959 Kirloeka Oil Engines Ltd. 0.6 - 0.8 1960 Asam SillIanit Ltd. 1.4 - 1.4 1961 K.S.B. Pmp Ltd. 0.2 10686OS Preciion Bearings Sndle Ltd. 0.6 0.4 1.0 164 Fort Gloater Industrie Ltd. 0.8 0.4 1.2 1964-75-79 Mahlndra Ulgine Steel Co. Ltd. 11.6 1.8 18.1 1964 Laketmi Machine Works Ltd. 1.0 0.8 1.8 1967 Jayhre ChOeical. Ltd. 1.1 0.1 1.2 1967 Indian Exploeiv.s Ltd. 6.6 2.9 11.6 1060-70 Zuaer Agro-Chemotclo Ltd. 15.2 8.6 19.0 1976-67 Escort. Limited 15.6 - 16.6 1976 Housing Development Finance Corp. 4.0 1.6 5.6 1980/82/87/69 Deepak Fertilizer and Petrochemicals Corporation Ltd. 7.5 4.2 11.7 1981 Coromandel Fertilizer. Limited 16.9 - 15.9 1981-88-89 Tote Iron and Steel Company Ltd. 70.8 21.4 91.7 1981 Mahindra, Mbhindra Limited 15.0 - 15.0 1981 Nagarjuns Coated Tubes Ltd. 1.6 0.8 1.8 196i-887 NagarJ una Signod. Limited 2.8 0.8 2.6 1981 NagarJ una Steels Limited 8.5 0.2 3.7 1962 Ashok Leyland Limlted 26.0 - 28.0 1982 The Bombay Oyelng and Manufacturing Co. Ltd. 16.8 - 188. 1982 Share0 Fore Copny Ltd. 15.9 - 16.9 1982 The Indian Rayon Corp. Ltd. 14.6 - 14.6 1984-66 The b Ilior Rayon Silk Manu- facturing (Wteving) Co. Ltd. 16.0 - 18.0 19865 Bibsr Sponge 14.9 0.6 15.5 1986 BaJaJ Auto Ltd. 28.9 - 28.9 196 Meodi Cment 18.0 - 13.0 1985 Inat Lease Oevelopment Ltd. 6.0 0.8 653 1986 Larsen and Toubro Ltd. 21.6 - 21.6 1986 India Equipment Leasing Ltd. 2.5 0.8 2.8 1966 8 Jaj Tempo Limited 80.5 - 30.6 1986 The Great Eastern Shipping Company Ltd. 6.0 6.9 11.9 1987 auJarat Matr" db Illy Ferti Izer 5 .1 - 85.1 1987 Hero Honda Motor. Ltd. 7.7 - 7.7 1987 Winco Limited 4.7 - 4.7 1987-69-90 Titan Watches Limited 21.7 0.7 22.4 1987 Export-Import Sank of India 15.0 - 16.0 1987 GuJarat Fusion Glas Ltd. 7.5 1.7 9.2 1987 Tho Gujarat Rural Housing Finance Corp. - 0.2 0.2 1987 Hinduston Motor. Ltd. 87.2 - 37.2 1968 Invel - 1.1 1.1 1989 NBI - 0.2 0.2 1989 Keltron - 0.2 0.2 1989 Gujarat State Fertlitzer 27.6 - 27.8 1989 Afmedabad 198. - 19.8 1990 Tate Electric 66.8 - 88.8 TOTAL GROSS COMMITMENTS 602.6 48.4 661.0 Less: Cancellation, Terminations, Repayment. and Sales 832.1 20.8 352.9 Now Hold 270.6 27.6 298.1 Undisbursed 170.5 0.1 170.6 ==  41111 -XXI .. I I.. em rsa 3 *z H g 1 u