Madagascar - Antananarivo Urban Works Project

Document of The World Bank FOR OMCuL USE ONLY Repwt No. P-6282-MAG MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 13.3 MILLION TO THE REPUBLIC OF MADAGASCAR FOR AN ANTANANARIVO URBAN WORKS PROJECT MARCH 4, 1994 MICROGRAPHICS Report Nc: P- 6282 MAG Type: MOP This document has a restricted distribution and may be used bv recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EQUIVALENTS Currency Unit = Malagasy Franc (Fmg) US$ 1.00 = Fmg 1,962 (Dec 31, 1993) SDR 1.00 - US$ 1.38107 (Dec 31, 1993) WEIGHTS AND MEASURES Metric System MALAGASY FISCAL YEAR January 1 - December 31 ABBREVIATIONS AND ACRONYMS (English/French Translation) AGETIP Agency for the Execution of Public Agence d'Exscution des Travaux Works and Employment d'lnt6ret Public et pour i'Emploi AGETIPA Agency for the Execution of Agence dExecution des Travaux Infrastructure Works in d'Infrastructure d'Antananarivo Antananarivo AMEXTIPE Mauritanian Agency for the Agence Mauritanienne dExecution Execution of Public Works and des Travaux d'Ipt6r8t Piblic et pour Employment l'Emploi AUWP Antananarivo Urban Works Project Projet des Voires Urbaines dans l'Agglomeration d'Antananarivo CETE Technical Studies Center of Cectre d'Etudes Techniques du the Mvinistry of Equipment Ministere de l'Equipement CNFTP National Council for Technical Conseil National de Formation and Professional Training Technique et Professionnelle CTNDU National Technical Committee Cornite Technique National fo Jrban Development pour le Developpement Urbain FAC French Cooperation Fund Fonds d'Aide et de Cooperation FMG Malagasy Franc Franc Malgache GNP Gross National Product Produit National Brui (PNB) GOM Government of Madagascar Gouvernment de Madagascar IAPSO Inter-Agency Procurement Agence d'Achat des Nations Services Office Unies IDA International Development Association Internationale de Association Developpement (IDA) MAT Ministry of National and Minisiere de l'Amnenagement du Regional Development Territoire MTP Ministry of Public Works Ministere des Travaux Publics PIP Public Investment Program Programme des Investissements Publics PPF Project Preparation Facilitation Avance de Preparation de Projet SMATP Malagasy Company of Public Societe Malgache de Travaux Publics Works SMEs Small and Medium Enterprises Petites et Moyennes Entreprises (PME)  FOR OFFICIAL USE ONLY MADAGASCAR ANTANANARIVO URBAN WORKS PROJECT Credit and Proiect Summaa Borrower: Republic of Madagascar Beneficiaries: Municipality of Antananarivo, Ministries of Public Works and of National and Regional Development Credit Amount: US$ 18.3 million equivalent Project Cost: US$ 23.4 million equivalent Terms: Staiidard IDA terms, with 40 years maturity Project Financing Plan (Excd. Taxes): (million US$) Amount % IDA 18.3 91% FAC 0.2 1% Government of Madagascar 1.6 8% Total 20.1 100% Project Economic Rate of Return: estimated at 25 % Staff Appraisal Report No.: Report No. 12587-MAG Disbursement Schedule (million US$) IDA FY 1994 1995 1996 1997 1998 Scheduled Disbursement Annual 1.28 3.36 6.56 5.25 1.85 Cumulative 1.28 4.64 11.20 16.45 18.30 IThe economic analysis of a sample of twenty sub-projects indicates an average ERR of 30%. 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 DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 13.3 MILLION TO THE REPUBLIC OF MADAGASCAR FOR AN ANTANANARIVO URBAN WORKS PROJECT. I submit for your approval the following report and recommendation on a proposed IDA credit in the amount equivalent to SDR 13.3 million to the Government of Madagascar e'n standard IDA terms, with 40 years maturity. 1. Bacliground. With a population of about 21.4 million, growing at 3 percent p.a., and a declining GNP per capita of about US$ 230 in 1992, Madagascar is one of the poorest countries in the world. Its capital, Antananarivo, with a population of about 1.5 million growing at 7 percent p.a., is the major economic center, with 21 percent of GDP, 24 percent of total consumption, and 35 percent of total imports concentrated in this area. About 60 percent of the 500 km road network which serres the city is in bad condition, severely constraining the supply response to a collective transport demand of 450,000 passengers per day growing at 21percent p.a. With a vehicle fleet growing at a steady 8 percent a year, this situation has dramnatically increaced traffic congestion, time losses and accident rates, and constitutes a major obstacle to any attempt to reverse economic distress towards sustainable growth. 2. Madagascar is a striking example of unfulfilled potential. It has ample but often misused resources, ranging from cheap and easily trained labor to natural resources. The recent start of a new political era forged with democratic institutions promoting a market-based economy has resulted in a rethinking of the national economic strategy. The new government has opted for a "6 percent sustained growth" scenario, to be achieved through daring and innovative economic policies. The existing constraints to such a growth-oriented strategy include: inadequate infrastructure for urban transport and markets, poor social conditions, inefficiency of government institutions, and shortage of foreign exchange. The proposed project would contribute to a reduction of all of these constraints. 3. This sustainable growtni scenario will feed on sustained investments coming from national and international savings. In the short run, national savings will come exclusively from public savings generated by a good management of public expenditures. More immediately, the major share of investments will come from external savings, i.e., public aid for development and for private investments. In the long run, these investments are expected to trigger private domestic savings. 4. Project Objectives. The main objective of the proposed project is to introduce a contracting-out approach for the management ana maintenance of infrastructure works. The project will familiarize the government with the efficiency of this new instrument and serve as a model for subsequent use. 5. There are two central development objectives. The first is to restore the road-related infrastructure of Antananarivo, and the second is to develop domestic small and medium enterprises (SMEs) in the construction and engineering industry. The associated objectives are: to strengthen the management capacity of the municipality, to create jobs by encouraging the use of  2 labor-intensive technologies, whenever economically efficient, and to stimulate growth in the con;truction industry and in the economy as a whole. The project will use participatory methodology to increase the voice of users and stakeholders in maintenance planning and better link the municipality to popular interests. 6. Project Description. The project will include the creation of an executing agency, Agence d'Execution des Travaix dI'nfrastructures Publiques d'Antananarivo (AGETIPA, Executing Agency for Public Infrastructure Works in Antananarivo), the execution of sub-projects for improving the infrastructure in Antananarivo, a training program for SMEs and public institutions, and the provision of services to inform the public about the approach of the project and the work program. The sub-projects will be identified by the municipality and other public agencies, reviewed by the executing agency according to clear eligibility criteria, and packaged for incorporation into an annual work program. AGETIPA will annually oversee the contracting of about 25 sub-projects--primarily urban road and street repair--with an average value for each sub- project of about US$ 200,000. 7. The Agency will be headed by a broadly empowered General Manager (GM), to be recruited from the private sector, whose responsibilities will be clearly defined in the Statutes of the Agency. The GM will report to a General Assembly including representatives of the municipality, the water and electricity company, associations of domestic contractors and consultants, road transporters, and labor unions. User and stakeholder ownership will be promoted through participatory methodology. The government and AGETIPA will sign a convention delegating to AGETIPA the full and exclusive responsibility to review and approve proposed sub-projects, invite and evaluate tenders, award and administer contracts (engineering studies, works and supervision), and provide technical assistance. These responsibilities will be carried out according to a detailed Manual of Procedures--acceptable to IDA--and will be verified on the basis of monthly progress reports and teclmical and financial audits carried out by external auditors acceptable to IDA. The training program for SMEs will cover the execution of sub- projects and basic business management; promising consulting firms will be trained to become future executing agencies in their own right. 8. Project Implementation. An essential feature of project implementation is the fast- tracking of certain project components as a tcst i.n advance of effectiveness. The project is expected to be implemented in three years, with an average annual volume of works and services of about US$ 7 million equivalent. Subsequent annual work programs, including corresponding counterpart funding arrangements and the grouping of sub-projects, will be presented to IDA by AGETIPA annually for approval. The operating costs of the Agency are estimated to be about 6 percent of total costs, exclusive of audits, training, and services. The proposed project assumes that the disbursements will span a four-year period because the use of a professional, independent agency to contract works and consulting services is expected to minimize the traditional delays due to bureaucratic constraints. This expectation is corroborated by the Bank's experience with similar projects in West Africa. Slower actual disbursements would increase AGETIPA's fee and reduce the global ERR of the project. 9. Project Sustainability. The project will rehabilitate infrastructure which has deteriorated for lack of maintenance under the present system. It will introduce efficient methods for implementing an adequate maintenance program. It will create the basis for enhanced cost  3 recovery and long term sustairiability. AGETIPA will provide a model which is expected to be replicated for other government-financed works. 10. Lessons Learned from Previous IDA Involvement. The Urban Development Project approved by the Bank in 1984, attempted to improve the institutional capacity of the municipality of Antananarivo. The project was limited by the constraints of working within the governmental system--including the bloated staff structure of the municipality of about 2,000 employees--and failed to introduce sustainable reforms or increase the productivity of the services provided by the municipality. The innovation offered by the proposed project to delegate contract management to an independent executing agency builds on the lessons of the past. It provides a mechanism for both getting works done, and compensating for the deficiencies of the current staff which limit the capacity of the municipality itself to directly contract for services. It will open the door for eventual reductions in staff. 11. The proposed project follows region-wide recommendations to improve the entry quality of projects, and draws largely from the experience of similar projects using the AGETIP (Agence d'Exgcution de Travaux d'lnteret Public pour l'Emploi) approach which has beer, successfully introduced in six West African countries. The design of the proposed project is simple but includes such key elements as: the participation of beneficiaries in the selection of sub-projects; the contracting-out of services to the private sector; the use of key monitoring indicators; the preparation of an implementation manual (Manual of Procedures) as part of the appraisal of the project; selectively targeted training programs; the use of sample bidding documents; the recruitment of key staff before effectiveness; the financing of incremental recurrent costs by the government; and arrangements to secure sufficient counterpart funding. As experienced in West Africa, this approach has accelerated disbursements, through facilitating the prompt payment of invoices presented by contractors, and has, in turn. resulted in a 15 percent reduction in bidding prices. In particular in Mauritania, advanced contribution of government counterpart funds has worked well. 12. Rationale for IDA Involvement. The proposed project is fully consistent with the Country Assistance Strategy (CAS) which was discussed by the Board on May 18, 1992. The Bank's over-arching objectives in Madagascar ar't to help promote sustained export-led growth with equity, to help reduce poverty and to protect the environment. In pursuing these objectives through its lending and economic sector work, the Bank is giving priority to: (i) improving macro- economic management; (ii) reducing the role and scope of the public sector and strengthening its management; (iii) promoting export diversification through private sector development and external competitiveness; (iv) alleviating widespread poverty; and (v) removing physical and human capital constraints to sustainable long-term growth. The proposed project will strengthen the service delivery capacity of the government through a contracting-out approach, alleviate poverty through substantial employment generation, remove physical constraints through improving transport infrastructure and support private sector development. The proposed project is also expected to have a positive impact on the environment. 13. The experience gained by IDA in the development of agencies responsihle for public works makes it the natural leader to support this project in Madagascac. The project will be complemented by the proposed transport sector project, which will support the broad harmonization of sector policies, the rationalization of resource allocation in the sector, and the restructuring of the railway. The proposed Urban Works project will also serve as a pilot for  4 futnre highway projects. It will promote the development of small contractors and engineering firms who should be able to take over the responsibility for larger infrastructure projects later on. It will be used to quickly repair selected urban infrastructures destroyed by the January/February 1994 cyclones in Antananarivo. Finally, it will help improve the disbursement performance of IDA's portfolio in Madagascar by increasing the abrzrptive capacity for civil works in all sectors. 14. Capacity Building. The proposed project will be critical to effective capacity building for provision of public services. Rather than providing technical assistance to a limited number of civil servants, the project seeks to promote a comprehensive reform of the sector by using private contractors and by encouraging a result-oriented approach. The project seeks to provide an enabling environment conducive to the contracting of municipal services to the private sector by shedding the tendering and supervision processes from existing bureaucratic constraints. Concurrently the project would strengthen the municipality's capacity to represent community interests and technically identify sub-projects for consideration by AGETiPA. Within this context, the interests of multiple stakeholders will be furthered. 15. Agreed Actions. The sub-projects will be eligible for financing if their counterpart funding is included in the annual budget of the government and/or the municipality. The local contribution will be shared by the municipality and the MAT, increased during the life of the project from 5 percent to 15 percent, and deposited up-front for each sub-project or group of sub- projects. 16. If the government/municipality fails to maintain the works previously rehabilitated under the project, IDA would delay its approvai of the next annual work program. At the mid-term review, agreement will be sought for improved use of the municipality's resources. The adequacy of arrangements for selection, financing and implementati3i of sub-projects and cost recovery will also be reviewed, as well as the inclusion of components for the training of the municipal police and for the rehabilitation of public buildings. 17. Environmental Aspects. The project's environmental classification is B. Its direct impact on the environment--drainage works, sanitation, tree planting, garbage collection--is expected to be positive, and its indirect impact--for example, the dumping of refuse--will be regulated under specific provisions in the bidding documents. A review of the impact of individual sub-projects will be conducted locally by environmental specialists. 18. Program Objective Categories. The project will improve the basic urban infrastructure (IU), build managerial capacity in the public institutions (PB) and develop the private sector (PV). The generation of employment will contribute to poverty alleviation (PA). 19. Benefits. The project benefits would be: (i) the availability of a tested model for the efficient contracting-out of infrastructure maintenance; (ii) the development of about one hundred firms in the construction industry in Antananarivo; (iii) the rehabilitation of about 300 km of essential urban roads; (iv) the creation of jobs in an amount of about 70,000 person-months; and (v) the building of capacity within the municipality. 20. Risks. There are five potential risks: (i) the risk of insufficient funding will be addressed by the requirement that government provide its contribution up-front and progressively increase the proportion of its cost sharing for works during project implementation--the overall issue of  5 resource allocation in the transport sector will be dealt with under a concurrent transport sector project; (ii) the risk of government interference in the management of AGETIPA will be reduced by establishing adequate procedures for decision making early in the project's life; (iii) the risk of poor performance by the executing agency is low, based on the agency's strong initial performance; (iv) the risk of failure to maintain works already undertaken under the project will be mitigated by making such maintenance a condition for the approval of subsequent annual work programs; and (v) the prompt payment for works and services by the agency will reduce the risk of poor performance by small contractors and engineering firms which are particularly sensitive to problems of short-term cash flow. 21. Recommendation. I am satisfied that the proposed credit would comply with the Articles of Agreement of the Bank and recommend that the Executive Directors approve it. Lewis T. Preston President Attachments Washington D.C. Date: March 4, 1994 DOCVMAU\UWPU.MOIMOP.DOC  SchedUle A Page 1 of 1 MADAGASCAR ANTANANARIVO URBAN WORKS PROJECT Cost Estimates (million US$) Expenditure Accounts Breakdown For. Local Total % Exch (Excl. Taxes) 1. Investment Costs A. Civil Works 0.00 15.32 15.32 76.4% 0.00 0.05 0.05 0.3% B. Goods C. Consultancy Services 0.00 1.66 1.66 8.3% 1. Local Consultant 2. Local & Foreign Consultant 0.22 0.22 0.44 2.2% 0.49 0.06 0.55 2.7%o 3. Foreign Consultant 0.71 1.94 2.65 13.2% Subtotal Consultancy Services Total Investmnent Costs 0.71 17.31 18.02 89.9% 1I. Recurrent Costs 0.00 0.96 0.96 4 8% A. AGETIPA Operating Costs 0.00 0.23 0.23 1.2% B. Operating costs under PPF 0.19 0.08 0.27 1.4% C. Technical & Finamcial Audits 0.00 0.20 0.20 1.0% D. Monitoring of Social Impact 0.00 0.02 0.02 0. I % E. Monitor. of Env. Imp. 0.19 1.49 1.68 8.4% Total Recurrent Costs 0.04 0.31 0.35 1.8% TOI. Contingencies 0.94 19.11 20.05 100.0% TOTAL  Schedule B Page I of 2 MADAGASCAR ANTANANARIVO URBAN WORKS PROJECT Procurement Method and Di5bursement A. Procurement Method (thousand US$, including contingencies) Local Competitive Bidding Onher Consulting N.B.F. Total Services CONSULTANT - - 3,692.9 - 3,692.9 (3,037.8) (3,037.8) CIVIL WORKS 17,997.5 - - - 17,997.5 (13,946.9) (13,946.9) EQUIPMENT - 63.6 - - 63.6 (54.3) (54.3) RECURRENT 1,433.9 - 1,433.9 (1,229.6) (1,229.6) FAC - - - 166' 7 169.7 Total 17,997.5 1,497.5 3,692.9 169.7 23,357 t, (13,946.9) (1,283.9) (3,037.8) - (18,268.6)  Schedule B Page 2 of 2 MADAGASCAR ANTANANARIVO URBAN WORKS PROJECT B. Disbursemeint (million US$) CATEGORY AMOUNT PERCENTAGE FINANCED 1) Civil Works 13.2 95% of expenditures for individual sub-projects initiated (street repairs, rehabilitation of public areas) up to Dec. 31, 1995; 85% for expenditures initiated thereafter 2) Design and Supervision of Civil 1.1 idem Works 3) Executing Agency Operating Costs 1.0 idem 4) Equipment and Furniture for public 0.1 100% of expenditures institutions involved. 5) Consulting Services (excl category 2) 1.6 100% of expenditures 6) PPF refinancing 1.3 100% of expenditures TOTAL 18.3 C. Disbursement Schedule (million US$) IDA FY 1994 1995 1996 1997 1998 Scheduled Disbursement Annual 1.28 3.36 6.56 5.25 1.85 Cumulative 1.28 4.64 11.20 16.45 18.30  Schedule C Page 1 of l MADAGASCAR ANTANANARIVO URBAN WORKS PROJECTS Time Tabie of Key Project Events (a) Time taken to prepare: 13 months (b) Prepared by: MAT/Municipality/Bank (c) First Bank mission: December 1992 (d) Appraisal mission departure: June 1993 (e) Negotiations: Febrdary 1994 (f) Planned date of effectiveness: June 1994  Schedule D Page 1 of 6 MADAGASCAR ANTANANARIVO URBAN WORKS PROJECTS Note on projects with significant disbursement lag 1. Most Madagascar projects have suffered from slow disbursements due partly to generic problems, including (a) lack of counterpart funds; (b) difficulties for project managers to access IDA funds deposited in special accounts opened by the Central Bank and operated by signatories in the Treasury; and (c) cumbersome public procurement procedures due to repeated reviews by central agencies. The situation worsened in July 1991 with the onset of political turmoil. Large scale demonstrations and strikes paralyzed public administration and severely disrupted economic activity. The country has now completed a process of political transition (new government in place since late August 1993). Project implementation continued to be slow during the two-year transition. The generic problems noted above have affected ail projects, in addition to project-specific delays. The following projectr have the most significant disbursement lags: Accounting and Management Training Project (Cr. 1661-MAFG. Even though the project has attained most of its goals, disbursements are low due to larger than anticipated co-financing from grants by Canada and France. Agreement has been reached on possible uses for some of the remaining funds, and a little more than US$1 million has been cancelled. Forest Management (Cr. 1878-MAG). Implementation of this project has been delayed by a wide variety of problems (organizational, personnel, counterpart funds, marketing). A mid-term review in March 1992 made recommendations to redirect and streamline the project and agreed on an action plan. The Forestry Department (DEF) has so far implemented the agreed program with minor delays. The Fanamalanga pine forest plantation has almost completed its efforts at reorganization and equipping to meet its tasks, and is continuing its efforts to find foreign operators who are interested in its products and by-products. Seventh Highway Project (Cr. 1905-MAG). This project was mostly affected by the generic problems of cumbersome procurement procedures and lack of counterpart funds. Many contracts have now been signed and disbursements have increased significantly (US$8 million. in FY93 and slightly more than US$12 million already in FY94 by the end of January 1994).  Schedule D Page 2 of 6 iconomic Management and Social Action Project (Cr. 1967-MAG). Implementation of IDA-financed components was slow, partly due to complexity of project design. Components financed by grants from Switzerland and UNDP were disbursing more rapidly. Following the establishment of a new coordination unit (private sector), the disbursement rate picked up and the project was redesigned in October 1992 to streamline its activities. National Agricultural Research Project (Cr. 2042-MAG). The project experienced an eight-month start-up delay in meeting credit effectiveness conditions. Project execution was disrupted in 1991 due to the political turmoil in the country and continued to be affected by institutional disputes. Several missions in 1993 have focussed on possibilities for restructuring the project, and a proposal to downsize the project and cancel part of the credit is expected shortly. Education Sector Reinforcement Project (Cr. 2094-MAG). Only 20% of this credit has been disbursed, even though the project has been effective for three years. Project objectives and design are being simplified in order to speed up project implementation. Financial Sector and Private Enterprise Development (APEX) Project (Cr. 2104- MAG). The APEX credit, despite a good commitment record, is not disbursing rapidly. A mid-term review in October 1993 gave particular attention to identifying and addressing the probleriis which are holding up disbursements. Solutions to a number of problems (e.g. authorization for Central Bank to request disbursement directly, simplified methodology for ERR calculation, clarification of eligibility criteria, procurement guidelines, more regular monitoring) were agreed with the Borrower and for the most part are already being implemented. Antananarivo Plain Development Project (Cr. 2117-MAG). This project experienced start-up delays, due both to procurement procedures as well as complicated resettlement issues, but most of these problems have been resolved and disbursements are expected to pick up considerably. Environment Project (Cr. 2125-MAG). Madagascar's period of political and social instability coincided with and affected the take-off of this project. The institutional set- up of the project has, however, been put in place and seems to be attaining a satisfactory implementation capacity. The project now needs to be concentrated in priority areas and establish realistic objectives and performance criteria. A mid-term review mission and meeting with the cofinanciers was held in December 1993, to address these issues. National Health Project (Cr. 2251-MAG). Start of this project was delayed due to slow establishment of a project management structure. Competent project staff have now been recruited and disbursements are expected to increase significantly.  Schedule D Page 3 of 6 2. Some recent breakthroughs have been made which should go some way towards addressing the generic problems involving procurement and access to special accounts. These breakthroughs followed the Country Implementation Review (CIR) in Antananarivo in December 1990 and a follow-up CIR in March 1992. Government agreed to: (a) issue new regulations for procurement and use standard bidding documents which comply with Bank guidelines; and (b) publish a decree allowing project managers to have direct access to special accounts to be opened in commercial banks to ensure that funds for project implementation are available as and when needed. Both of these changes are now operational. In addition, attention has been given to the availability of counterpart funds for Bank projects within the context of public expenditure/ investment reviews, and to identifying areas where shifting priorities or resource constraints may necessitate restructuring. A review of the public investment program was held in November 1993. A CPPR is planned for the second half of FY94. In FY93, disbursements for investment operations reached US$41 million, i.e. almost 80% more than the total amount disbursed in FY92. In FY94, US$26 million had been disbursed as of January 1994.  Schedule D REPUBLIC OF MAUS= Page 4 of 6 As of Januaxy 31, 1994 Originat Gross Comitmants Ffscal Type of Loan Mu Total Year Cwonr sum f* M..........ussmin........mn- 1990/91192 Pfaro (AEF) Venture Captiat 0.47 0.'? 1992/92/93 AquaLma Aquacwlture 3.a0 0.60 .to 1980 Bata Shoe manuf. 1.9- 1.25" 1992 SNI Cwsnrcial. lank 2.61 2.61 1936/90 Cotona Spinning 10.80 0.20 11.00 1984190/90 Nossi-Be Food Processng 7.00 0.20 7.20 1977/87 Sotema Texti Les 14.70 0.30 15.00 199G SCat Cnr1.50 _ L 50 arm cowiutIts 39.05 4.38 43.33 Less repaymens$, write offs 23.36 0.16 23.52 ard cancLtlations Not Conitments held by tFC ,1 29.91 TotaL undiszursed 1.29 0.15 1.44 a/ Invesent repid  Schedule D Page 5 of 6 AERCA,- ;CO?UNRM DURAUUMZM XX1 Status Of Bank G3xrp CaXtnons in lO3AMSCAR PFDSR2S - Surnay Statxsnt Of Loans and XDA Credits (LOA data as of 1/30/94 - )aS data as of 02/17/94) By COftry Country: MAWLUSMA Am~mt iUSa 8$ mIll