Benin - Second Structural Adjustment Program Project

D _cmot of -The World Bank FOR OFFICIAL USE ONLY M . "IWTCF 1tH.,;E; cPY fiepnrt No. FP- 5S'7U &N Rqit No. P-5570-BEN 65AYJi11, A. / Y3471.9 J 3806'/ hA}1UUk REPORT AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED DEVELOPMENT CREDIT OF SDR 41.3 MILLION TO THE REPUBLIC OF BENIN FOR A SECOND STRUCTURAL ADJUSTMENT PROGRAM JUNE 3, 1991 This docume_t has a resticted distribution ad may be ued by recpie* only in the performnce of their official duties. Its cotent may not oterwise be disclosed witbout World Bank authorization.  CURRENCY EQUIVALENTS The CFA franc (CFA?) is tied to the French franc (FF) at the rate of FF 1 to CFAF 50. The French franc is currently floating. The rate of CFAF 270 to I US dollar is used for economic projections beginning in 1991. WEIGHTS AND MEASURES Metric System FISCAL YEAR January 1 - December 31 ABBREVIATIONS AND ACRONYMS ACP African, Carribean, and Pacific Countries BBD Banque Beninoise pour le Developpement BCB Banque Commerciale du Benin BCUAO Banque Centrale des Etats de l'Afrique de l'Ouest CARDER Centre d'Action Regionale et de Developpement Rural CCP Centre des Cheques Postaux CePEPE Centre de Promotion d'Emploi et de Petites Entreprises CNBF Centre National des Bureaux de Fret CNCA Caisse Nationale de Credit Agricole CNE Caisse Nationale d*Epargne COBENAM Compagnie Beninoise de Navigation Maritime FIR Fonds d'Indemnisation et de Remboursement MANUCIA Societe de Manufacture de Cigarettes et Allumettes MDRAC Ministere du Developpement Rural et de l'Action Cooperative NGO's Non-Governmental Organizations OBSS Office Beninoise de Securite Sociale OCBN Organisation Commune Benin-Niger OPT Office de Postes et de Telecommunications PAC Port Autonome de Cotonou PDV Programme de Depart Volontaire PFP Policy Framework Paper PIP Public Investment Program SBEE Societe Beninoise de l'Eau et de l'Electricite SCO Societe de Ciment d'Onigbolo SDA Social Dimensions of Adjustment SEB Societe d'Engrais du Benin SITEX Societe Industrielle de Textile SHE Small and Medium Enterprises SOBETEX Societe Beninoise de Textile SOCOGIM Societe de Construction et de Gestion Immobiliere SONACI Societe Nationale des Ciments SONACOP Societe Nationale de Commercialisation des Produits Petroliers SONAPRA Societe Nationale de Promotion Agricole SONAR Societe Nationale des Assurances et Reassurance SONICOG Societe Nationale pour l'Industrie des Corps Gras SPA Special Program of Assistance SSS Societe Sucriere de Save  FOR OMFCIL USE ONLY REPUBLIC OF lENIN SECOND STRUCTURAL ADJUSTMENT CREDIT Table of Contents PaRe Credit Sumiary . . . . . . . . . .