Tunisia - Agricultural Sector Investment Loan (ASIL) Project

Documfut of The World Bank FOR OMCLAL USE ONLY Rqut No. P-6130-TUN MENDRANDUM AND RECOWENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN THE AMOUNT EQUIVALENT TO US$120 MILLION TO THE REPUBLIC OF TUNISIA FOR AN AGRICULTURAL SECTOR INVESTMENT LOAN OCTOBER 29, 1993 MICROGRAPHICS Report No: P- 6130 TUN Type: MOP 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 (July 1993) Currency Unit = Tunisian Dinar (D) US$1.00 - D 0.9 D 1.00 = US$1.11 WEIGHTS AND MEASURES The metric system is used throughout this report GOVERNMENT OF TUNISIA FISCAL YEAR January 1 - December 31 GLOSSARY OF ABBREVIATIONS AIC Resource User's Association Association dlint6r6t collectif ARAPPI Agrarian Reform Agency for Public Irrigation Schemes Agence de la r4forme agraire dans les p6rimatres publics irrigu6s ASAL Agriculture Sector Adjustment Loan Pr&t & 1'ajustement dans le secteur agricole ASIL Agriculture Sector Investment Loan Pr6t d*investissement au secteur agricole CRDA Regional Commissariat for Agricultural Development Commissariat r6gional au d6veloppement agricole DGFE General Directorate of Finance and Incentives Direction g6n6rale du financement et des encouragements DGPDIA General Directorate of Planning for Agricultural Development and Investment Direction g6n6rale de la planification pour le d6veloppement et des investissements agricoles DAP Development Action Plan ERR Economic Rate of Return Taux de rentabilit6 4conomique FA Force Account en r6gie GDP Gross Domestic Product Produit national brut GOT Government of Tunisia Le Gouvernement de Tunisie ICB International Competitive Bidding Appel d*offres international IRVT Tunisian Veterinary Research Institute Institut de recherche v6t6rinaire de Tunisie LCB Local Competitive Bidding Appel d'offres local LS Local Shopping Consultation de fournisseure & l'6chelon national ImA Ministry of Agriculture Minist6re de l'agriculture FOR OFFICIAL USE ONLY REPULIC OF TUNISIA AGRICULTURAL SECTOR INVSTMENT LOAN Loan and Proect Summary Borrower: Republic of Tunisia Amounts US$120 million equivalent TegmSt 17 years, including 5 years of grace, at the Bank's standard variable interest rate Fliancincr PLans UsS Millien World Bank, ASIL 120.0 Government 91.0 Total Project Costs 211.0 Economic Rate of Return: Minimum 10 percent when applicable Poverty CAtegory: Not applicable Environmental Catelorvs Staff Apraisal epgort No. 12229-TUN Map No.: IBRD 25108 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 IN AN AMOUNT EQUIVALENT TO US$120 MILLION TO THE REPUBLIC OF TUNISIA FOR AN AGRICULTURAL SECTOR INVESTMENT LOAN 1. I submit for your approval the following memorandum and recommendation on a proposed loan to the Republic of Tunisia for the equivalent of US$120 million to finance an agricultural sector irvestment loan. The loan would be at the Bank's standard variable interest vate, with a maturity of 17 years, including 5 years of grace. 2. Backaround. In response to a deteriorating macroeconomic situation in the mid-1980s, the Tunisian Government launched a medium-term macroeconomic adjustment program to promote growth while reducing trade and fiscal deficits. The program sought to make the economy more outward-oriented and reduce administrative controls. A parallel program of reforms was developed specifically for the agricultural sector, which generates 13-15 percent of Tunisian GDP, employs nearly one out of every three workers, and contributes about 11 percent to total export earnings. The reforms, which were supported in 1986 and 1989 by two Agricultural Sector Adjustment Loans (ASALe), focused on prices and input subsidies, liberalization of imports and exports of key agricultural products, and marketing in two principal subsectors (cereals and edible oils). The second adjustment loan (ASAL II) was a hybrid operation, financing part of the Ministry of Agriculture's (MOA) investment budget in addition to supporting sector policy reforms. The reform components of both adjustment operations were successfully completed. Nevertheless, strengthening and deepening the reforms must continue. The disengagement of the public sector from diLect production, input supply and market management, although advancing well, needs further support and deepening. 3. Rationale for Further Involvement. Although the success of the adjustment program in Tunisia can be attributed in large meastre to Government commitment, the Government continues to draw on the Bank's technical advice to diagnose policy problems, design reform measures, prepare invest..ents and arrange financing. The Country Assistance Strategy, discussed in the Board on April 16, 1993, proposes to continue this relationship in five priority areas -- private sector promotion, public sector reform, natural resource management, poverty alleviation and external economic integration - while shifting from adjustment to post-adjustment lending. The proposed ASIL is fully consistent with this strategy. It would support private contracting for public investment implementation and delivery of public services, and strengthening of the MOA's recent decentralization which is fundamental to these developments. It would provide technical and financial assistance to the significant shift in public investment in natural resources, including soil conservation and water management. The bulk of investments would be dispersed throughout rural Tunisia and provide direct and indirect benefits to the rural poor through productivity increases, job creation and provision of potable water. Finally, starting in the livestock and fisheries sub-sectors, it would begin to put in place a product quality assurance program that is essential to maintain access for Tunisian exports to international markets. - 2 - 4. The ASIL would provide crItical support to the Government's public investment progtam in the 8th Plan (1992-96), to whose formulation the Bank contributed through an Agricultural Expenditure Review (1991). This review highlighted key problems of resource-constrained rural areas, such as poverty, lack of job opportunities for rural youth, and natural resource degradation, and budget options for addressing them. A series of ASILs is foreseen as the main vehicle for addressing these issues, complemented by stand-alone projects in sub-sectors with special technical, project design or implementation difficulties. Earlier Bank projects in irrigation and fisheries, and the more recent and fully committed investment component of the ASAL II hybrid loan, have assisted the Ministry of Agriculture in key sub-sectors to develop and enforce adequate investment criteria, prepare projects, and follow sound procurement and disbursement procedures in the implementation of projects. ASILe would be the means for providing Bank assistance in atrengthening and extending this capacity to additional sub-sectors within a streamlined framework of borrower-lender responfibilities. 5. Project Objertives. The central objective of the ASIL would be to support sectoral growth through improved management of public resources and complementary policies and investments in support of private sector activity. The project would finance priority investments in water mobilization and use- efficiency, natural resource conservation, animal health and product quality, and land consolidation. To achieve greater efficiency of public investment, the Government's planning and implementation capacity would be further strengthened. In addition, private sector activity would be supported through the reduction of market distortions, provision of complementary public investments and services, and increased use of private contractors to undertake public sector activities. 6. Project Description. The ASIL would support the MOA1e investment budget for 1994-97 (last three years of the 8th Plan, and first year of the 9th Plan) estimated at US$1,455 million. The project would consist of an investment component linked to policy reforms through a Development Action Plan (DAP) prepared by the Government. The policy agenda is selected to focus on actions that are directly linked to the full and effective use of the investments to be supported. The project would involve the following sub-sectorst * Irrigation ano water-use efficiency - are critical as Tunisia moves towards full mobilization of available water resources. Efficient operation of existing infrastructure is important, along with new investments that facilitate better demand management and harnessing of additional water resources. The ASIL would finance investments in small scale dams, irrigation perimeters associated with either such dams or tubewells, modernization of existing perimeters, groundwater surveying and monitoring, and rural potable water development. Needed policy actions are additional increases in water charges, application of a binomial tariff, and promotion of water user associations to permit greater local autonomy in water management and efficiency in water use. * Natural resource management - is appropriately receiving increased government priority and the ASIL would support this through investments in soil erosion control, port infrastructure to encourage fishing along - 3 - the high potential northern coast and to permit meeting EC import quality standards, and agro-pastoral improvement of rangeland. Policy elements include finalization of the revised Soila Code, progressive replacement of force account implementation of soil conservation works by contracts with farmers and private enterprises, and an evaluation and reduction of existing subsidies intended to encourage fishing in the north. S~Animal health and production - is receiving greater attention and the ASIL would support the animal disease surveillance network through obligatory national vaccination campaigns and development of disease laboratories. The project would also promote quality standards by financing equipment for programs aimed at genetic improvement and milk quality monitoring. Policy reforms include phased privatization of selective veterinary services, and increased cost recovery for vaccinations, laboratory services and artificial insemination. * Land consolidation - parcel fragmentation is a critical constraint in rainfed areas since it limits the economic viability of farm units, constrains farmer accass to credit and exacerbates soil erosion. There are no quick solutions, but the ASIL would support development of a pilot intervention approach to voluntary consolidation of fragmented parcels in several locations. The ASIL would finance capacity strengthening of the agency that will be responsible for tenure reform in public irrigation perimeters, and rural infrastructure in the pilot areas. Accompanying policy reforms needed to make the intervention viable consist of establ,shment of legal instruments to expand ARAPPI's mandate to rainfed areas. 7. In addition, the ASIL would support institutional development to strengthent (i) physical and financial monitoring of the M0 investment budget by DGFE; (ii) sub-sector project selection and preparation; (iii) MOA's decentralization through medium-term planning of CRDA personnel, budgetary, and investment management needs; and (iv) MOA's promotion of natural resource users groups. 8. Project lmylementation. The MOA would implement the Project and provide oversight through a committee representing all the affected units, which are either in the MOA or under its supervision. The Finance Department (DGFE) would provide the secretariat. The Planning Department (DGPDIA) would provide overall coordination for the policy reforms, as would the DGFE for procurement, with responsibility for investment sub-components resting with technical departments, their regional CRDA branches and agencies under MDA oversight. 9. Annual reviews of agricultural expenditure would coincide with initial MOA preparation of budget submissions; these reviews would update monitoring data on budget performance and analyze progress on issues such as subsidies, transfers to public agencies, adequacy of recurrent budget allocations, and budget decentralization to the CRDAs. Consultations to review policy progress and to select items for ASIL financing from the next budget year's program would take place each year during budget finalization. The DAP would detail - 4 - anticipated key actions linked to each investment sub-component, specifying a timetable and the agency responsible for ensuring their completion. Now commitments to finance investments with the ASIL (but not disbursements on previous commitments) would onLy be undertaken in sub-sectors with satisfactory progress on key actions as spelled out in the DAP. To be eligible for financing under the loan, investments would have to be included in the 8th or 9th Plan, be consistent with sub-sector strategies set out in the Borrower's DAP, and be prepared according to agreed upon economic, social and environmental criteria. A Mid-Term Review would take place in fall 1995 and consist of a thorough agricultural expenditure review, an in-depth and joint stock-taking of progress, with problem areas to be addressed through programming of corrective measures. 10. Cost and Financing. The Government's public investment plan in agriculture during the four years (1994-97) that would be covered by the Loan is estimated at US$1,455 million. The costs of the components that would be supported by the Loan are the equivalent of US$211.0 million, which includes taxes and dut.es totaling an estimated US$39 million. The Loan would cover US$120 million of the cost of these components, with the rest covered by the Government.1 Other donors are participating in the financing of the total public investment plan. A breakdown of the costs and the financing plan are shown in Schedule A. Amounts and methods of procurement, disbursements categories, and the disbursement schedule are shown in Schedule B. A timetable of key project processing events and the Status of Bank Group operations in Tunisia are given in Schedules C and D respectively. A map is also attached, as is the Staff Appraisal report No. 12229-TUN, dated October 25, 1993. 11. Actions aareed. Government agreement has been obtained on the following main actions/issues: (a) implementation of a Development Action Plan specifying a calendar of activities permitting new annual Loan commitments in identified sub-sectors; (b) implementation of satisfactory procedures for resettlement programs or plans, should any be required, for the hill dam investments; (c) implementation of environmental impact studies and mitigation plans as necessary to carry out the activities in the investment program; and (d) appointment of a Panel of Experts to review design and construction of hill dams for safety, and the adequacy of maintenance, inspection and emergency action plans, and execution of proposed modifications. As conditions of effectiveness of the proposed loan, Government would: (a) employ consultants to carry out a diagnostic and planning study on agrarian restructuring; and (b) publish the Decree for the Tunisian Veterinary Research Institute (IRVT). 12. Environmental Aspects. The proposed loan has been reviewed in accordance with the provisions of World Bank Operational Directive 4.01, "Environmental Assessment" and placed in Category B. Because of the time- 9I GECF coffaancing is possibly forthcming foltowing an official request by the Tunisian authorities Tn an amount equivalent to USS85 mtion subsequent to loan negotiations. The understanding between the World Bank and the Tunisian authorities Is that at such time as cofinancing may be confirmed, the World Bank toan would be reduced from US$120 millIon to US$85 milIon, and the necessary changes be made to reflect this in loan docuentation. - 5 - slice design of the ASIL, it is not possible to know in advance all specific investments which would be funded. Therefore the Loan would ensure establishment of proceduree, and capacity within the MOA, to program environmantal reviews of components with potentially significant environmental impacts as part of investment preparation prior to commitment of ASIL resources. Similarly, procedures will be reinforced to assure adequate programming of resettlement in the event that it is required at specific hill dam sites. Any resettlement required for sub-projects would necessitate the preparation of a resettlement plan satisfactory to the Bank. Guidelines and procedures consistent with Tunisian law and Bank Guidelines have been established for the key components: (1) irrigation development through small dam and tubewell construction; and (ii) fisheries ports construction and upgrading. With adequate mitigation of negative impacts of these components, the ASIL would overall have a significant positive impact on natural resources through investments in soil erosion and range management, incentives policies that promote irrigation water conservation, and land policies that will promote improve use of soil resources. 13. Project Benefits and Sustainability. The ASIL would finance public investments and improve their effectiveness through redressing institutional and policy constraints. It would improve the long-run productivity of such natural resources as soils, water and pasture through public investments, development of participation by resource users, and pricing to reflect scarcity. A focus on cost recovery in irrigation water pricing and livestock health programs would promote financial viability and pr"?ate sector involvement in provision of these services. Targeted investments would benefit the poorest segments of the agrarian population through provision of rural infrastructure, direct involvement of beneficiaries in improved management of natural resources, and expansion of access to safe drinking water in rural areas. 14. Project Risks. The two principal project risks are: (a) delays in timely implementation of the actions necessary for optimal use of the investment component; and (b) marginal fulfillment of selection criteria by investment projects proposed by the MOA for ASIL financing beyond those available for detailed review for the first implementation year. The first risk is addressed by linking annual commitments of ASIL investment support in sub-sectors to adequate progress on key actions identified in the Development Action Plan. This creates incentives for line managers in the MOA responsible for key actions to carry them out. The second risk is addressed by including strengthening of investment planning and preparation in the Project, with a specific focus on sub-sectors where this is weakest. 15. 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. Lewis T. Preston President Attachments Washington, D.C. -6- Scheule A RPUBLIC OF TUNISIA AGRICULTURAL SECTOR INVESTNENT LOAN Estimated Coqts and Financing Plan (US$ million equivalent) Esthated Project Costs Local Foreign Total Dams and Conveyances 20.5 13.7 34.2 Resettlenet 0.2 0.0 0.2 Irrigation Perimeters 14.8 31.2 46.0 Hydraulic Studies 10.1 14.9 25.0 Rural Potable Water 19.0 26.4 45.4 Livestock 3.3 17.2 20.5 Pisheries 10.4 5.8 16.2 Soil and Water Conservation 11.8 8.1 19.9 Land Reform 0.3 0.2 0.6 Other 1.8 1.2 3.0 Total 92.21 118.8 211.0 Inodes about US$39 aniHisa for tarce and dutdes. Financing Plan Local Foreign Total World Bank 1.2 118.8 120.0 Government 91.0 0.0 91.0 Total Project Cots 92.2 118.8 211.0 -7- Page 1 of 2 REPUBLJC OF TUNISTA AGRICULTURAL SECTOR INVESTNT LOAl Table 3.3: Procurement Table (US$ million equivalent) PMJqeet E lement Prorement t Total ICB LCB Other N..F Cost 1. Works 1.1 Hill dams 34.2 0.2 ' 34.2 (18.7) (0.0) (18.7) 1.2 Irrigation perimeters 13.3 30.0 1.9 V 45.2 (8.0) S.56) (1.0) 04.6) 1.3 Rural potable water 40.5 3.6 k' 44.1 02.0) (2.0) 94.0) 1.4 Groundwater surveys 25.0 25.0 (13.6) (13.0 1.5 Fish ports 15.1 1.1W 16.2 (8.2) (0.0 (8.8) 1.6 Soil conservation 19.9 19.9 (10.9) (10.9) 1.7 Pasture improvement 7.5 ' 7.5 (4.1) (4.1) 1.8 Land reform 0.6 0.6 (0.3) (0.3) 2. Goods 2.1 Hydro-EM equipment 2.1 2.1 (1.5) (1.5) 2.2 Vet. drugs 5.0# 5.0 (4.5) (4.5) 2.3 Laboratory equipment 5.4 3.3 1.0f' 7.7 4.4 05) (M. 7) (6.3) 2.4 Computer equipment 1.4 1.4 (1.0) U7.0) 2.5 Vehicles 0.3 0.3 (0.2) (0.2) 3. Consultants 3.1 Studies, training, research 1.61' 1.6 (1.4) (1.4) Total 16.7 172.4 21.8 211.0 (11.1) (4.6) (14.3) (120.0) Note: Total public investment program costs are US$1,455 millions. Figures in table are costs of components retained for the ASIL, with figures in parentheses indicating amounts to be disbursed by the Bank. N.B.F.: Not Bank-Financed. Works and Goods should be procured in accordance with World Bank, Gldelines. Procurement under MBRD and JDA Credits (Washington, D.C., May 1992) and Services should be procured in accordance with World Bank, Guidelnes. Use of Consuftants by World Bank Borrowers and by World Bank as Executing Agency (Washington, D.C., August 1981). i Force account. hI Direct contracting for connection to electricity grid by STEG. a Limited international bidding. Al Local shopping. 1/ Consultant services. -8- Schedule 8 Page 2 of 2 REfUBLIC 9O TUNISIA AGRICULTURAL SECTOR INVESTMENT LOAN Project Disbursenents Loan Allocation % of&penditures (US$ Million) to be Ananced 1. Civil Works 105.1 60 2. Equipment, Tools. 13.5 100 percent of foreign Materials, Vet. Drugs, e.pendItures and 80 Vehicles percent of expenditures for items procured locally 3. Conaultancy Services, 1.4 100 Studies, Training Total 120.0 Disbursenent Schedule (US$ million) IBRD Fscal Year 1994 1995 199 1997 1998 D2isbursment Annual 5 25 30 30 30 Cumulative 5 30 60 90 120 -9- Schedule C R1EPUBLIC OF TUNISIA AGRICULTURAL SECTOR INVESTMENT LOAN Timetable of Key Ptocessing Events (a) Tune taken to prepare 14 months (b) Prepared by Government and Bank (o) Fi*st Bank mission Sept-mber 1992 (d) Appraisal mission departure June 2, 1993 (e) Negotiations October 4-8, 1993 (f) Planned date of effectiveness February 28, 1994 (g) Responsibility for preparation Task Manager Stephen Mink, MN1AG Division Chief a Odin Knudsen, MNIAG Country Director Mahmood Ayub, Acting, MN1 Regional Vice President Caio Koch-Weser, MNA Peer Reviewers : .L. Plusquelleo (AGRNR) T. Schilhorn Van Veen (AGRTN) - 10 - Schedule D The Statusof Bank Group Operations in Tunisia Slatemient of Bank Lomne and IDA Credlit <As of Juiv 31.1993 USS Milhloin Amount Loanor FIs~al (less oanollatlons) CrditaNo gor E!!!R22 R5D! j2& .nd=9br0sed Efxt~-even koans and 10 ordits fultv diebursed 1.68844 75.1 Of which SAL SECALs, and Program Loanla 2781 1987 Republic of Tunicia industry& Trade Polfcy 150.00 2754 1987 Ropublio of Tunisia Agriculture Sector Adjustdn 160.00 2082 1088 Republic fTunisia SALU 1590 8109 1980 Republioo lTunlsa PERL , .00 Sub-total 580.00 Disbursina Logne 2223 1083 Republio of Tunisla Urban Development 1II 25.00 1.48 2265 1083 Repubflo of Tunsia Urban Sewerag 1I 34.00 0.93 28 1084 Republio of Tuna* Sventh Water Supply 50.00 &12 242 1984 Republ1o of Tunisla Second Urban Transportation 33,00 1.01 2564 185 Republio of Tunisla 2nd E~ectrial & Mechanlal Industry 21.88 O.0 2573 1985 Republic of Tunse irrgation Managemnt Improvement 17.00 6.84 2005 1088 Republio of Tunfa Gabes Irrigallon 19.20 1.04 2736 1987 Repubfco of Tunicia EnergyConservation 400 .07 2a 1087 RepuboIof TiIsla Forth Urban Demelopment 30.2 5.80 270 1088 Republic of Tunisa Forestry Development 20.00 5.0 2868 1068 Republ* of TunisWa Hghways Maintenanoe& Rghabjlltatn 63.00 18.f1 2011 188 Republo of Tunläla 2nd SMS Indusal Devefopment 28.00 2.03 3023 19 ETAP Ptroleum Exploraton 3.00 1.79 30M4 1989 Repuboof Tunisia Educalon & TraIning 85.00 30.0 3064 1981 Repub o of Tuns a pifth Urban 46.00 6.11 8078 1089 Repubflo of Tunisa ASAL II 84.00 a.g8 3217 190 Repubo of Tunlsa Research & Extenson 17.00 13.31 325 1991 Repubfo of Tunisia Employment & Traning Fund 12.00 5.48 307 1901 Repubfio of Tunisla Population & Family Health 25.00 24.00 3308 191 Repubfio of Tunisla Hospital Researh Support 30.00 28.00 3418 1892 ~epubRo of Tunisia Gas Infrastructure 60.00 6.44 * 8424 1992 Repubio of Tunsia Eoonomlo & FInancial Reform 280.00 150.09 3416 1002 Republo of Tunla Higher Educatfon 75.00 71.P 3807 1093 Repubo of Tunisia Municipal Seotor 75.00 72.00 801 1993 Repubgo of Tunisla Second Forestry bl 60.00 69.00 TOTAL 2.887.70 75.16 8.40 Of whlch has been repad (only amortiatlon) 884.63 20.8 Total held by Sank and IDA 2.003.07 54.78 Amount sold 34.82 of whlch repald 33.97 Total Undsbursed 809.40 8AL. SEA.or Program Loan la Approd alter FY80 aNotysigned N.MN1ITUN4OP - 11 - Schedule D (ae 2 of 21 Stugement of IPc investment in Tunfulf jAsof Jul¥ 31. 1~99 Odginal Grss Comtment Flsose (US Milpon) ymg gjål9itg Tvneof Busines Loa n g Ige 1966 Soile Nationale Doevlopment Finance Company - 1.74 1.74 7078 d'inestlsomnt (now B0ET) 169 CORTTourlm (now 9NO) Development Financo Company - 2.20 2.20 173 Soc~ote d'tude et Tetrism - 3.13 3.18 de Developpementdu Sousse-Nord 198 Societc Indutle Textilos and Rbers 0.00 3.72 8.72 des Textl~es(SITEQ 1986 Adwya .A. Pharmaceutieaie 2.00 0.28 2.34 1987 Roed Edlikda Profabdoated 1.13 0.42 1.50 industdializta Panls (REIT &.A.) 1987 COMETE Engineering Engineedng $en~ees - 0.04 0.04 1988 Societe des industrie Toxies & Fiburs 2.45 2.10 4.66 Texies Aunles SA 191 8ociet Monaucde~ne Textiles and Fibere 3.64 1.28 4.=9 des Textiles(SOMOTEO 192 Societo Minlerede ZinlLuad Mine 14.00 2.18 16.15 Bougrine 1993 Ideal anitahe Mmnufactudng 235 J.0 5Z Totalgroscommt~Mnts 31.06 18.07 40.13 Loms cancellaftn, teminatione, repayments, sales and exhangs adjutmento 2.88 6.2 .00 Total commitments hold by IFC 28.20 11.84 40.04 of which undibued 14.83 0.24 14.87 * Dos not incude pardlcpantW MAP SECTION 9,.. � • ... 1о• 11• t2^ тимis�А . �. Ьtib AGRKUITURAL SECTOR �. , ����_'"° . - � � �` " ` �' � 1NVES1'MENT LOAN �f , ��� . „ з7• оо ✓"� �/б I 2`@�'R�-T Ё', _ � ;`�l��• , . , ,, . .���!F cI ',�п%= - .. .. � - �' �� .^ :1 Ariana � ,„'�t���jу��_ _,_ { � �- ,., -г;;� �r _ зr _�`� _. JJII�� .� Sf� � �, �АЭ�. А� �.,г�•,�. ... 1 � / � ru 15�� Аг� � � L _ �J. �,� Г� )� ; ��' Т�В �1 A�f��: �..:' ' Тии7�l�� r ., -��`,/ � b�o, - 1; �,i - BsIO � 6-s ,,.: � , Вг�( � � l � .'G �'� � ® t� %�:.�гlF(Кр�15: , l"7,Е J�'� ",� '�; 'ь.. MABEUI / �,� ? ,•�'�� �,г� � �� _ г`;�' о1". �� • .!^".� �,Е..°п, ,� �.. l•���О� � � r( ,�.,д : � ±\ hoi9on® i�.�уΡ ИаЬеи1 L71� ' уΡ, �.i r � г�, / 1 ооо .�" .., е ^�г ¢ �f SГ'Г � гГ � % У� �� .^✓ Q •.. � � J �$ 1 L М �•\ /•. /, •"l С'тulF of Нотп,ат=! 3д р� �'ву,)=` ФЕ1 KaF � � �- � \ �.,..,},.� нсreсха Ьо �� � �_ г' SilionaГ�y 'i��`��i' �" ' � ''�L Kf�F�i' �° � �l � 50ы15Sf _ ( � � �� °гг�о� $ОиЕ50 50U55£ {V.ч4:':ц зв• , г � � f ,� �O л � „ '` `' ;7 . . Э. •е. � --ё �Г, и 'Г ��Monostir • % `�ACA1R'Qk�A�C.�гlг � ь' ,�., ясь �--� �u�so ( �� '�!�^,-.у .., '�{ ;� г мдиаs:tг>< � :� � � • _ � l/С� ` .� Кыг�_�\ ��, г � ;-���мОьдил \I � г� ^/ ,_ ` � '.�. o,lьigd ;= � � ^ 4.�'л�::J �' дкгя лоо--�ь--�-.,-�� �-- г 1 t" �м ч а г д 3-:А: ` i , •�г, �,�' � г..i ш /'.. � �� ,, � �j г .,�--• .i 2 ✓ �`'fR/` •i ��kEx3A ,`-� � � � �-.г•• •'�, о Fг сг _�уΡ � .� `... f�� i ,�, га�пи 3 � ® sseri�e 5 ` �\ �...'•�� ^ �'ь' � i 1 , � `%�\ i �'� 5idi Вои 2jdE "�.� � i ��""г� / д"� ё � i �.,, К А 5 6 Е R I N Е StD) 80U Zf D� j�г ( � �, , д. j: еи иа;еr 35° , ' у � е� лпаГд J у (� г -�/,i. � % �_/ � \'-r-���,,�j 1 г °; �-----� sf�к �^, / � 5 F А Х°` � .�. У; .. °,�°,.о г,iь,.д, "� ? .?^с' (..�..( �. ��i ,! � i,` _ ` �` •яАХ � .r °�.�` •;.�,Г' ` С 1 ` � � •• :,i , � r•r� Г `���-, � \ ) � манасе, � � �N ' G А F S А'..'' �"'.•'' ��. : г ,'.�'- /. , _, /� � GaFaa® L,.-...-°/ } ir г�• П j ( •� ` ..J� %.к сКЧ�ЛА 1 �� J�� , � ., ` ' ` + ( '"`.`°'�г v .,7 r Зд у� � `` г , ., - ..i •�..-:.:1 - s�� �u;f 1 •\в.. ..� �� t,' `; О; ` r" • ..-'" , ' ,.1:.�•' г"' • � Г;,n,S ® �-. � . .. f'-'", '•� . -"-- .� . :�- . � бОЬва О. г.. � �,,, _ . . ,� ��,,;,.`�..�,,,'�. г г.. �,�. ,.�, ~`�.. 34° � Т О Z Е U RTozвuS;м•""' � \ �" �' G А 8 Е 5 ''" � 1�'`.,,,, �':�' \ . �: .� , ` �..R,.• � �.- � � .i �� � � ` а � •� �� �,� uL _ � � / . % Ke6i1'i® ' � un�.�i %' Ch��гi ••: ie,�c � ® ' ? 1 � � � � , ' � . С - 1 �"•• �с , .,� 1 �' -\ , / �0 � 1--� �"� �F \ � . , ' � � � �'^tт.� � мвде0ио ° F � ' � '�.' , 1 ••�.,,,^ �•..., i кевгiг � l J�J м �...-•....` '�F у` Эз У" '�. �'�..�• � 1 '� 1 � ` �\ ` OTotoouine , � Эз° �•\ \~�'% ` ��1 _,►._�._.._..�.._.._.::�.,,.��`� l � ..-� � •'� ` � /,,.�..� � I I i,.i /�' .L F1sн нARвoRS � � �• TATAO U1 NE % � \, ���-._, R1VER5 �• � �• � Э2 ' ` , 5EA50NAL R1VER5 \.� % [-�_f FRESH WATER IAKES \, � � °ш_ i salr LAKES ,; �%�• -- 1soнYEfs w м1и1мЕТЕRS ; � ,� 32° ® COVfRNORATE CAP1TAlS r.�+ ® NATIONAL CAPITAL � � -•-- GOVERNORATE BOUNDARIES 1 � � -•- 1NTERNAT10NAl BOUNDARIES ` � ,• е, 1 11. .. 3PA1N л 1 lY � GRE ` \ Мвдiгеггапоаn о \ � '~ з1 Tunix ` ; 1 $ е а ` г � / ° 31• ` �1 0 25 5о 75 � ГТU А , t кitpмETEflS �' i , , ть•�м�м�..и..v�ы � , м»»иыwвw�.ылк L� \ b°iюlуlw дю гыrм�bпге ; \ j 4г`�т.,лмг.ыа» пммг.�д�.�алдв�k А L G Е R 1 А i ; J �«го nиы�,°ы;м.°ид м ы» ьыьа°ггм.ьми ( �.,�,,, �,- � л",� г 1 �плгrм,Еи,rевьн с,�,,. L 1 В У А „�. �„г��„, д, цqлr � \ � i ' дё:..��т«'�`а � °' ;�ьд,.е�� � о l.� � t"l й .� _ �. � i N1GER . 9° r 10° 11� о Ф