Ghana - Local Government Development Project

Docuint of The World Bank FOR )FmCLAL USE ONLY epast No P-6164-GH MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF TEE RNTENATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 27.7 MILLION TO THE REPUBLIC OF GHANA FOR A LOCAL GOVERNMENT DEVELOPMENT PROJECT JANUARY 18, 1994 MICROGRAPHICS Report No: P- 6164 GH Type: MOP This document has a estricted distribution and may be used by recipients only in the performance of their ofricial duties. Its conteats may not otherwise be disclosed without World Bank authorization.  CURRNCQY EOUALENTS Currency Unit Cedis (4) US$1.00 = Cedis 705 Cl.00 = US$0.00142 WEIGHT$ AND MEASURES Metric System ABBREVIATIONS AND ACRONYMS ADRP Aecra District RehalUlitation Project DA District Assembly ERR Economic Rate of Return TOG Government of Ghana ICB International Competitive Bidding IDA Intentional Development Association KfW Kreditanstalt fur Wiederaufbau LCB Local Competitive Bidding LGDP Local Government Development Project LVB Land Valuation Board MFEP Ministry of Finance and Economic Planning MLGRD Ministry of Local Government and Rural Development MLF Minstry of Land and Foresty MWH Ministry of Works and Housing O&M Operation and Mntemce PNDC Provisional National Defence Council PWP Priority Works Project R[AP Revemne Improvement Action Plan SD Survey Department TA Technical Assistance TCPD Town and Country Planing Department TSC Technical Services Center TSU Training Support Unit FISCAL YEAR January 01 - December 31  FOR OMCIJAL USE ONLY REPUBLIC OF GHANA LOCAL GOVERNUMET DEVELCPMENT PROJECT CREDIT AND PROJECr SUMMARY Bo0rrower: Republic of Ghana Benciaries: Ministry of Local Goverunent and Rural Developme-t (MLGRD), Ministry of Works and Housing (MWH), and the District Assemblies (DAs) governing the 11 cities included in the project (Bawku Bolgatanga, Wa, Techiman, Sunyani, Ho, Koforidua, Agona-Swedru, Keta/Anloga, Cape Coast and Elmina). CrediAmount: SDR 27.7 million (US$38.5 million equivalent) Terms: Standard with 40 years maturity O-lending Terms: The Government would transfer the proceeds of the credit in the form of grants to the executing agencies. Financing Plan: Local Foreign Total (US$ mlluon- IDA 14.23 24.28 38.51 Govemment of Ghana 5.55 0.00 5.55 District Assemblies 3.16 0.00 3.16 Co-financing (KfW) 3.08 5.21 Total 26.0 29.49 Economic RBte of Return: Average ERRs for a representative sample of projects valued at 27% of the total value of physical works: 90.1% for roads and drains; 18.4% for markets; 15.8% for solid waste; and 35.0% for liquid waste. Not Applicable Staff Araisal Report No.: 12332-OH IBRD 25191 This document has a restricted distribudon and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without Wotid Bank authorization.  MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INERNATIONAL DEVELOPMENT ASSOCIATION W0 THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO THE REPUBLIC OF GHANA FY)R 1H LOCAL GOVERNMBT DESELOP-MEN PRO.lECT 1. I submit for your approval the following report and recoramendP;ion on a proposed credit to the Republic of Ghana for SDR 27.7 million, the equivalent of US$ 38.5 million, on standard terms with a matrity of 40 year-e, to help finance the Local Government Development Project (LGDP). Co-financing of US$8.3 million equivalent is to be provided by the Government of Germany through KW. 2. Iound: The World Bank has provided support for urban development in Ghana through several operations since 1985. Bank assistance has focused on the rehabilitation of urban infrastrucure and services (roads, water supply, sewerage and sanitation, drainage, solid waste, markets, public transport, traffic management, and area upgrading) and on institutional strengthening at the central and municipal levels, especially in cost recovery and revenue mobilization. Ihe first Bank-assisted urban project was the Accra District Rehabilitation Project (completed), which covered Accra only. The Priority Works Project (completed), the Urban II Project (under implementaon), and the Urban Transport Project (approved by the Board in May 1993) have extended investments and institutional strengthening to the five main cities of Ghana (Accra, Kumasi, Tamale, Tema, and Sekondi-Takoradi). Urban water supply is being addressed through the current Water Sector Reabilitation Project, which covers Kumasi, Sekondi-Takoradi, and Tamale, plus 35 smaler towns. 3. The Local Government Law (PNDCL 207, 1988) and the new Constitution (1992) gave authority for the establishment of 45 new districts (local governments), bringing the total to 110. The laws also granted broad new powers to Districts and increased their responsibilities. Among other things, the new laws provide for the extensive decentralization of many centralized governental fnctions to the District level and establish the District as the basic level of planning, economic management, administration, and political decision-making. Elections were held for t! newly established District Assemblies (DAs) in 1988 and 1989, and the new local government system has now been established. Current debate centers on the role and functions of these Assemblies in an on- going democratzation process, on equipping them to discharge their new responsibilities, and on improving essental infrastructure and services. Local government affairs fall under the responsibility of the Ministry of Local Government and Rural Development (MLGRD). 4. The Bank's urban sector strategy, based on a review done in 1988, affirms the importance of supporting urban development because of the important and growing contribution made by urban centers to national productivity. The strategy comprises support for decentralized and effective urban management, more efficient urban financial management and resource mobilization, reform of land registration, improvement of physical planning and control, and rehabilitation and extension of infrastructure. Among the results of the ADRP project are a three-fold increase in Accraes revenues since 1985; computerization of the city's accounting systems; institutional improvements in infrastructure maintenance; and development of a city corporate plan. Similar trends are evident in the Urban II cities. 5. The Bank undertook a Local Government Sector Study in 1992 to determine ways of assisting Ghana witi its decentraization program. The main conclusion of this study was that, given the broad  scope of the decentralization provisions, the government needs help in implementing decentralization over a m-alti-year period, with a few key fuz4tions selected as priorities for immediate attention. The Bank study identifies one of the priorities as local public finance, especially the furiher improvement of local revenue mobilization and reform of the system for central-local revenue transfers. The second priority identified in the study is the improvement of local government mangement, including budgeting, personnel, and recurrent operation and maintenance of serv.ces. 6. The GOG and the Bank agree on the importance of urban development for economic growth in Ghana. While some progress has been made in the past decade to relieve seine of the most critical deficiencies in urban services in the maini cities, major physical deficits and capacity constraint remain to be addressed. For Ghana to meet its objective of accelerated growth, its cities and towns must be able to provide substantially higher levels of infrastructure and services, must be managed more efficiently, and must offer a more supportive enviromnent for private investment. In this context, secondary cities are key centers of economic activty, administration, technology transmission, trading, and entrepreneurship. They also serve as marketing and service centers in support of the rural economy. 7. 0W OWjtve: The proposed project, covering 11 important secondary cities, responds to the government's interest in extending urban infrastructure investment and institutional strengthening efforts to the next "tier' of the urban hierarchy and furthering its new decentralization program. The specific objectives of the LGDP are (a) to improve basic infrastructure and urban services in secondary cities, especially services benefitting lower-income people, (b) to promote the sustainability and expansion of urban services by strengthening the District Assemblies' financial, technical, and managerial capacities, and (c) to support decentralization in order to promote accountability and efficiency in the provision of urban services. The improvement of the central governments ability to provide technical and financial assistance in support of the decealization effort is also an important objective. 8. fWect DescriDi: The project would cover 11 secondary cities which play important roles in the economy as regional market centers, regional and district administrative centers, and service provision centers. ITe project would have two main components: (a) rehabilitation and urading of nft=cture and services and (b) Institutional strengthening. The infrastructure and services component is based on priorities identified by the 11 District Assemblies. It covers three categories: road improvements, comprising rehabilitation of key town center roads and links with the trunk road network, associated roadside drainage, and traffic management measures (US$15.5 m. base cost); waste management, comprising establishment of environmentally safe solid and liquid waste disposal sites, provision of solid waste collection equipment, and improvement of public and household sanitation facilities (US$12.5 m. base cost); and rehabilitation and upgrading of public markets and motor parks (US$6.6 m. base cost,. In addition, the IDA credit will provide seed money (US$1.3 m. from the credit) to the DAs for the establishment of Operation and Maintenance Funds. 9. The instittional strengthening component (US$7.74 m. base cost) has two main parts. The first is capacity-building of District Assemblies, comprising technical assistance and taiing for municipal engineerinw, including operation and maintenance of facilities and supervision of civfl work; local government financial management, ceteing upon the implemaion by the DAs of Revenue Improvement Action Plans (RIAPs), covering greater revenue mobilization, including cost recovery of facilities and services financed by the project, and improved budgeting and accounting; and District planning and implementation, focusing on improved personnel and annual work plan management. The other part of institutional strengthening is enhancing the capacity of selected  -3 - central government agencies to support local government. TA and training will be provided to MLGlD, die Land Valuation Board (LVB) for revaluation of properties in the 11 towns, the Survey Department (SD) for mapping, the Town and Country Planning Department (TCPD) to work with the DAs on improved land use plans and development guidance, and the Technical Services Center (rSC) of MWH for implementation support on behalf of MLGRD and the DAs. In the policy area, the project will support (a) a governmental review of the local revenue mobilization and transfer system, which will generate proposals to foster greater DA autonomy and more predictability and focus In transfers, and (b) a pilot scheme for the use of personal services contracts by the DAs to staff three key higher-level positions, as a way of introducing a more market-oriented approach in local government employment. 10. The project cost including contingencies, duties and taxes is estimated at US$55.5 million equivalent of which US$29.5 million is in foreign currency. IDA woald finance US$38.5 willion, which amounts to about 69 percent of the project cost excluding duties and taxes. The Government of Ghana will provide US$5.55 million, tue District Assemblis US$3.16 million, and the Governnment of Germany through KfW US$8.3 million. A breakdown of costs and the financing plan are shown in Schedule A. Amounts and methods of procurement and disbursement scnedule are shi'wn in Schedule B. A timetable of key project processing events and the status of B&nk Group operations are given in Schedules C and ID, respectively. A map is also attached. The Staff Appraisal Report No. 12332-GH dated January 18, 1994 is being distributed separately. 11. foect Implemetion: MLGRD will provide overall policy guidance for the project. TSC will have primary responsibility for project implementation. TSC has extensive experience in managig two previous (ADRP and PWP) and one ongoing (Urban UI) Bank-assisted urban development projects. TSC will be responsible for operational coordination, day-to-day management, accounting, procurement, contract administration, and reporting. TSC possesses adequate skll and absorptive capacity for the LGDP. Technical support for and supervision of the institutional strengthening component of the project will be provided by MLGRD's Local Government Support Unit (LGSU) and Training Support Unit (TSU), both of which are being strengthened through the current Urban UI Project. As mentioned above, LVB, SD, and TCPD will support the DAs in carying out mapping, land revaluation, and physical planning. The Regional and District offices of these agencies are to report to the District Assemblies under the new decentralization scheme. DAs will sign contracts for local works, will assist TSC with the supervision of implementation, and will have responsibility for operation and maintenance. O&M tasks (e.g. operation of the waste disposal sites; cleaning of markets; maintenance of vehicles and equipment) will be contracted to the private sector except for very minor activities. The activities in each city will be coordinated by a District Steering Committee composed of the heads of the key operating divisions of the District under the chairmnship of the District Secretary. At the national level, the project will be supervised by a Project Coordinating Committee (PCC) under the chairmanship of MLGRD and comprising the heads of the participating agencies. 12. Project Sustainability: The infrastructure and services investments will be sustained through (a) the establishment of adequately funded operation and maintenance accounts by each District, (b) technical assistance to Districts in organizing O&M, with an emphasis on contracting out as many of the services as possible, and (c) establishment of improved rate setting and fee collection for cost recovery from markets, motor parks, and solid waste services. Commitment on the part of the District Assemblies to sustining the improved services has been fostered through the active participation of local officials in project formulation. In the longer term, the susniability of urban services would also be strengthenAd ihrough the project's support for improved local revenue  -4- mobilization and financial management. Ihe project Is structured in an institutionally su;tainable way, In that TSC, the primary execudng agency, is a permanent governmental entity which is staffed by civil serv', as and wbich has developed as the government's prime center of capacity for urban implemen tau&. 13. Leos from Previm Ex,"rim The most important lessons from the previous projects concern the need to give detailed attention to procurement planning and implementation, to ensure that institutional support components are given adequate early attention, and to put in place sustainable operation and maintenance systems. The arrangements outlined in the Proiect Description and Project Implementation sections above address these points. The reliance on institutions with substantial previous exprience in Bank-assisted projects will help ensure that project implementation proceeds on schedule. Ihe 11 DistrIct Assemblies have participated extensively in project preparation and appraisal, giving them a good understanding of %heir role and a stake in the success of the project. In particular, an effort has been made to discuss with the DAs and obtain their commiment to their future obligatons regarding operation and maintenance. In addition, earlier project experience shows that capacity building cannot succeed unless the utilization and development of national human tesources is maimized and the reliance on expatriates is minimized. In LGDP, tecbnical assistance will be almost exclusively through national consultants; foreign consuliants wfll be short-term only and will be limited to periodic supervision (for KfW) and specialists for th! mapping component. 14. Rationale for IDA Involernent: The proposed project is a logical next step for Bank support for the urban sector in Ghana. IDA remains the largest external donor for urban development in the country. Ihrough its involvement since 1985 in several major urban projects and sector studies, the Bank has established an ongoing partnership with the GOG based on an agreed strategy for improving urban infrastructure and management. This relationship has already produced considerable progress on the alleviation of infrastructure deficits and irmprovements in the policy environment and institutional capacity. The government looks to the Bank for continued guidance and support In urban development. In this project, IDA's involvement is crucial in promoting the substantive participation of local governments in project implementation, the establishmet of adequate O&M funding arrangements, the extension of local revenue mobilization and financial management improvements, and the introduction of management practices involving the private sector (e.g. personal services contracts and contracting out O&M). The project supports several of the key elements of the Bank's country assistance strategy discussed by the Executive Directors on June 10, 1993; i.e. capacity-building (including devolution of responsibilities to local government and improved financial revenue mobilization), improvement and extension of basic services, and promoting the involvement of the private sector in the provision and maintenance of urban services. 15. AZMe Actio: At ppraisal, the following issues were resolved: (a) a Memorandum of Understanding was signed between MLGRD and MWH defining the role of TSC in the project (b) preliminary environmental assessments of the waste disposal sites were completed, and the suitability of the sites was verified; (c) principles and procedures were established governing operation and maintenance of each of the types of facilities and services to be financed; (d) the detailed structre and terms of reference of technical assistance were established; and (e) agreement was reached with MLGRD on introducing through the project the use of personal services contracts for higher level staffing at the DA level and on carrying out a policy review of local revenue mobilization. 16. At negotiations, Govenmment and IDA agreed on: (a) the contents of a Letter of Local Goverment Development Policy from MLGRD; (b) conducting annual joint (GOG-DAs-IlDA) project implementation reviews; (c) carrying out a mid-term review of the project; (d) the timely  - - disbutsement of counterpart funds on a quarterly basis; and (e) the contents a Project Implementation Mnual. At negotiations Government also provided to the Association the names of the Project Coordinators of the participating District Assemblies. 17. The final signed Letter of Local Government Development Policy has been submitted by the Government to IDA. The conditions of credit effectiveness will be: (a) completion, with full participation of and formal ratification by the respective District Assemblies, of Revenue Improvement Action Plans satisfactory to IDA for all 11 cities; (b) deposit by the Government of the initial instlment of counterpart funds into the project account; (c) opening of sub-project accounts in each of the 11 LrGDP towns and deposit of the initial installments; (d) finalization of detailed engineering and the production of bid documents for all civil works; (e) acquisition of land for solid and liquid waste disposal sites by at least six District Assemblies; and (f) preparation of the first annual training plan for all the DAs in a form acceptable to IDA. Submission to IDA of satisfactory evidence of the acquisition of land for solid and liquid waste disposal sites is a condition of IDA's disbursement for these subcomponents. 18. Envrownental Asgecs: lTe project has been given a *B" environmental caegory. It would have significant positive environmental effects, through the increased coverage of sanitation facilies (both public and private), better maintenance of the public toilets, the creation of safe disposal sites for liquid waste, more effective collection of solid waste, the establishment of properly operated landfil sites for solid waste, and the upgrading of markets and motor parks through paving, alleviation of congestion, and basic water and sanitation. The waste disposal sites have been evaluated and are suitable. The necessary features to minimize the risk of ground or surface water contamination will be included in the final designs of the waste disposal facilities and the sanitation facilities. The project does not involve any demolition of dwellings or relocation of households. 19. fm QbWective Categoies: Although all the investments of LGDP will provide immediate benefits to the lower-income populations of the 11 towns, the waste management and mor park subprojects will have the greatest direct impact on this group. Lower-income people will be the principal users of the public toilets to be rehabilitated and constructed under the project. This group is also the main user of public transportation, which will improve as a result of the motor park upgrading and road rehabilitation. In the long term, the lower-income groups will benefit from better services that would result from improved urban management in the cities and from enhanced opportunities arising from urban economic development. 20. f!Ws Benefits h Te project would support national economic development by improving infrastructure and services in economically important secondary cities. Ihe project would also improve living conditions for the over one-half million residents of the project cities by providing bettom roads, drainage, sanitation, garbage collection and disposal, public markets, and motor parks. Approximately 10% of the population benefitted by the project would be below the national poverty theshold. The project's support for greater revenue mobilization and more efficient management by local government would promote the sustnability of urban services and, in the longer term future, the expansion of coverage. Economic rates of return were calculated for a sample of subprojects comprising 27 percent of the total value of physical investments. ERRs for the road and drainage rehabilitation tomponents are uniformly high, averaging 90%, due to projected high growth in vehicle volumes and relatively modest costs of rehabilitation. Ihe average ERR for the upgrading of markets and motor parks is 18%; for the solid waste components it is 16%; and for the liquid waste components it is 35%. All ERRs remained acceptable under sensitivity analysis.  -6 - 21. RL3skl Ihe risks related to limited implementation capacity in MLGRI) and the DAs will be mitigated by the participation of TSC as the main implementing agency. The potential problem of coutepart funds availability would be addressed by making the initial deposit of the gover:ment's contrbution a condition of credit effectiveness. The risk that operation and maintenance of facilities would not be sustained will be handled through the establishment by each District of a special O&M account, to which IDA would provide seed money. The risk that local government revenue mobilization would not be implemented effectively is addressed by requiring that the RIAPs be prepared with the fill involvement of DAs and be formally ratified by them. Project implementation will be facilitated by the advance preparation of designs and tender documents before credit effeciveness and the pres-nce in the World Bank Resident Mission of two higher-level staff (one HQ, one local) who would monitor and supervise the project. 22. 1IOMMUdffon: I am satisfied that the proposed credit woild comply with the Articles of Agreement of the Association and recommeid that the Executive Directors approve it. Lewis T. Preston President Atachments Washington, D.C. January 18, 1994  ShdLediA REPUIBLIC OF GHANA LOCAL GOVERNMENr DEVELOPMENT PROJECT ESTIMATED COST AND FINANCING PLAN Local Foreign Total A.~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A. Esated P"irectc wistment Col2 Roads and Drainae 6.23 9.29 15.52 Markeft & Lorry Park 2.71 3.86 6.57 Wast Management 2.86 9.59 12.4S DeS 1.15 0.00 Ulu Sub-Ttal 2 22.74 3.9 Miistry of Loa Goveanment 0.i4 0.02 0.16 Town & Country Planning 0.19 0.14 0.33 Land Vaation Board 0.40 0.26 0.66 Polcy Review (DA Rav. Mobil.) 0.0S 0.00 0.05 Survey DepartDzat 0.11 1.44 1.55 Technia Svices Center 0.63 0.07 0.70 Fuure ProjeCt Prpation 0.48 0.00 0.48 Taning (11 Districts) 1).51 0.00 0.51 Technical ASt. DAs 2.16 0.54 2.70 Enginee/Supervisor (1fW) 0.00 _ 60 Q60 Sub-Total 4.67 307 77 Inmnental Recurren Costs opetion Nan Ma enance 3.32 0.00 3.32 Personal Service Contrats 08 00 Sub-Total 5.21 0.00 Total BDa Cost 22.83 2518 Physcal Contingencies 1.76 1.72 3.48 Pdic Coningencies 1.43 SW Proieet Qs/ S S . 2 B. F*manci Plan IDA 14.23 24.28 38.51 Govenmet of Ghana 5.55 0.00 5.55 Distict Assemblies 3.16 0.00 3.16 Co-Fiancing (KfW) 3.08 S . 21 8 .22 Sub-Totl 26.02 22.42 ./ Icoludes USS2.67 milion in duties and axes.  Shedub B Page 1 of 2 REPUBLIC OF GHANA LOCAL GOVERNMENT DEVELOPMENT PROJECT PROCUREME ARRANGEMENS AND DISBURSEMEt A. Sunu of Plrocment Arrangcmcn1a (US$ million equivalent) (IDA Shares In parentes) Proc1rem Meohca P oect Elme ICB LCB OTHER N.B.F. IL Total Co0t 1. Work contcs foe rebabilitation Of 10.79 15.82 7.94 34.5S roads, drin, marets, lorny parks and (10.12) (12.22) (-) (22.34) waste_ ingmen 2. Supply of equipent, vehicles for 5.56 5.56 wade manasemen (5.47) (S.47) 3. Supply of veiles and equipment for 1.04 0.43 0.35 1.82 it.utionas (1.03) (0.42) (0.34) (1.79) 4. Techncl assistane, conmullnis 9.41 0.64 10.OS ad trainmg for polc gpozt, prject (7.45) (.) t7.45) i~_isF _oal da devlpment, and dosigm 3.S3 3.53 (1.46) (1.46) S. O pminad_mkmao Total 17.39 16.25 13.29 8.58 55.51 IL Non-Bank Fmanced (16.62) (12.64) (9.2S) (-) (38.51) Notes: The above figure. includ c _ .  Page 2 of2 B. 1Nsbursements by CgQr Amount of Credit % of Expenditure to be financed Do= g( $ milliQi) from IDA 1. Civil Works 16.89 100% of ForeignExpeenditures 70% of Loca Expenditures 2. Equipment & Vehicles 6.62 100% of Foreign Expediture 70% of Local Expenditures 3. ,Tedhnical Assistance 5.79 and Training 100% of Total Expenditures 4. Opeating Costs 1.33 50% of Total Expenditures until December 31, 1998; 30% of Total Expenditures thereafter 5. Project Preparation Advance 1.00 6. Unallocated 6.88 Total C. EPtsmated IDA Disbursenent Schedul (lISS millon) FIsca Year 122k 122C 122 1997 12 M l Annual 2.70 4.62 7.70 9.24 5.78 4.62 3.85 Cumulative 2.70 7.32 15.02 24.26 30.04 34.66 38.51  Sdiedule C REPUBLIC OF GIIANA LOCAL GOVERNMENT DEVELOPMENT PROJECT TIMETABLE OF KEY PROJECT PROCESSING EVENS (a) Time taken to prepare the project: One Year (b) Prepared by: Government with IDA assistance (c) Fist IDA mission: November 1992 (d) Appraisal mission 1/: June/July 1993 (e) Date of negotiations: November 1993 M Planned date of effectiveness: August 1994 (g) Relevant PCRJPPAR: Accra District Rehabilitation Project (No. 12225); Priority Works Project (draft PCR prepared June 1993). I/ J. Bahal (Mission Leader), A. Carroll (Urban Planner), J. Silverman (Principal Institutional Development Specialist), F. Sarno (Procurement Specialist), G. Ewool (Engineer), Chris Banes (Consultant, Municipal Engineer), Ian Wetherill (Consultant, Municipal Finance Specialist), and Richard James (Consultant, Financial Analyst). S. Berkman (Senior Training Specialist) and H. Garzon (Consultant, Economist) participated in the pre-appraisal. The peer reviewer was William Dillinger (Senior Urban Economist).  11SrATU3OVANKGRtOUPOPuRA21O1UD "4a Scbedule D SrA71UdMfOPSWALOANANDWACUR1 Page 1 of 3 L4Mamr tkn mmhtlu NUSAW ~ ~ ~ ~ ~ ~ ~ -i S l 10 jamw an szd Ts db8 14 OIwirSAl.aadPwUaLana cr.193 83 GanM Rean. !np 40. 0.00 P-0O 84 ohm Expof R*b. 3S.9 00 Cr. 1435 84 Ghbaa Eor Reab. 40o 00 Cr. 13 8S Ghmna Ram o 600 0.00 A-O30 86 0 hn RoMImpot 2697 O0 Cr.1 86 hana lndusuialSwoAdjmL 2830 OD0 A-OM1D 86 Ghba lndumlSoetAdMj 25.00 0.0 Cr. 1744 87 Ghana StioisctwAdjvsL 3430 0.00 Cr.777 87 . Gba SACI 34D0 0.00 Cr. L1n 87 Ghn 3tmAdjwl nst3Sppt 10.80 0. A-0 8J7 om SAC! 81.0 0. A-1 a8 GhOa SACI 15.00 0.00 Cr.191 8 Ghn cWS*otA4iwL 100. 0.0 Cr. 19U-1 89 O ln FPln alSo dtotAu 6.60 O0 Cr.2005 89 Ga SACU 10 0.00 C:r.20C5-1 90 ObG SACU 5.70 080 Cr.2005-2 91 Oba SACn 830 0D0 CL2 -0 91 Goh Prate InwL Pmotion 120o 0.00 Crl6-1 92 Goh Pte InvesL Pomotn 6.10 0.00 Cr336-2 93 Gbaa Pr vateb I Poa 65t 0i0 Cr. 1498 84 Gba SecadOiP0 25D00 254 r. 10 87 Gban AvrutwalS'L Rebh. 17.00 .94 Cc1819 87 Golln P*euamRt& 0tD. 15.00 535 Or. 1847 S4 Ghba PulicnESA 1050 4.69 C. 1.4 88 G ln Coco ReabMition 40.0 30.99 C.lUS 88 Goh Tmanp tRhaliln 600 1457 Cr.1921 88 ohana M g3 Se dto 40.00 13.70 C. 1946 S9 Ob Tehcomtic.tmu 19.00 SM3 Cr. 1976 * 89 Ghn Po Re. MtMa Det 39.0 19.04 C1996 89 Ghana Pate SMEDv. 30.00 20.64 Cr. 2039 69 Ghab Wte wStorR*hb. 25.00 16.79 Cr. 2040 89 Ga RUzulPna 20.00 6.77 Cr.2061 90 Gha FfhPou(ESO) 40.0 20.98 Cr. 2109 90 Gha VRA4IhPor 20.0 1703 C. 2140 * 90 Gha EduatinS Aordjwll 500 1 Cr.217 90 Ghn Udan! 70.00 n72 Cr2150 91 Ghaa AVicDiw aM l 1630 2525 Cr. 22 n Ghana TrAnpoRobitdoanll 96.00 74a5 Cr. 2193 91 ObG IUh&Papultinall 27.00 2L97 Cr.2224 n Goha Er.L Mapmn Suppot .00 1019 Ce. 2247 91 Ghn ton A . R ck 200 19S Cr. 2278 91 hana coininutyS3-A*y3cbwb 14.70 3.24 Cr.2318 * 92 Gha FnancSal Adjus. 1o0o 4235 Cr. 2319 92 Goh Nationl Fder Roads 55.00 5246 Cr.2345 * 92 Ghan AuturlS Adj. c0tr0 49M11 CL2346 92 Gha NatAUi. AOt. 27.76 Cr. 2349 92 aba LLA hPa Skills 1740 13.24 Cr. 2426 93 Gab EB *n_ Raoau MS 1. 1.63 Cr. 2428 9 Ghbn Ta Edcation 4.00 39.9 Cr2441 3 Gh N*taLlVeAockSwAw 224S 19.8 Cr.2467 93 Goha N l Ebc uirtica 80.0 7624 Cr.249 8 93 Ghaa U Sromnport 7620 7596 Cr2502 93 Gaa EntupdoedlokpomM 4L100 40A8 Cr20 1 9 Ga FiqScDevvl4omtd 65.10 64.77 CrZSS U 94 Ghb Agic a I Setorw !um ZIA a TUrAL 289.72 2593 92149 d.bkhh* k b--m 154.d234 20.6 ITrAL mbw bil sBankndIA SW4 25685 oawbleh=pi 038 lOTALandisbutmed MAP.4 of App,wSdWoigof gaDarF8 eOv Nekly8 .E.eibu * A1J8UCA.rgukkdkb.lgcOOpOU5**  GHANA Schedule D SATEMENT OF IFC INVESMENTS Page 2 of 3 (As of Deember31, 1993) Original Grs Commsiaits rLscal Amount in US$ nulion Year Borrower TM! of Budius Loau Total 1984 Aiahnzi Goldfelds Cotp. Mining 55.0 - 5S.0 11 1986 KIl Begin 01 ExplocatIon Oil - 4. 4.5 2 1988 CAa Bogom Resos e Mlnieg - 0.6 0.6 1989 CatIan Bogow R t U Mnisg - OA 0A 1989 Co Date Acetaes Lad. Merchan Beank8 - 0.9 0.9 1989 Wahome Sed Ltd. Steel Mrs. 32 - 3.2 1989 CandIn loga Resmrm Mining 47.5 0.5 48.0 31 1990 Ashm Goldd Cop. U Mining 70.0 70.0 4/ 1990 uZaplem Minig 3.0 3.0 1991 Alhga (AM Ahumium 03 - 0.3 1991 Picl Laminats (AEP) Pleatc 0.6 - 0.6 1991 Hote ln _mens (Ohm) Ltd. Tourism 4.2 - 4.2 1991 Dimple Inm (AEF) Tourism 0.2 - 0.2 1991 Cadian B0ogo Roue IV Minio 0.8 OA 1.2 1991 C Qon Acetanes 1 Merchat B g 3.0 - 3.0 1991 hanl Ahunulhm - OA 0.4 1991 Sure Dsount Ho Discount House - 0.2 0.2 1991 Appiah-Mekah (AEF) Soap M4. 0.9 - 0.9 1991 Iduapreml1 Mining 36.S - 36.5 5/ 1991 Patit (Am Cardoard Mfg. 0.6 - 0.6 1992 otel Ineent (swap) Touwim 1.3 - 13 1992 Asnti Goldfid (swp) Ming 6.4 - 6.4 1993 Waho Stel I & l Steel Mf. 4.2 0.4 4.6 1993 Ecobank Merhat Bank 6.0 - 6.0 1993 Polytex (AEP) Plastic Bags 0.4 - OA 1993 BMK-Primwood (AEP) P"e Bord 1.0 - 1.0 l993 Combind Fam (AEl) Agrb s 0.4 - 0.4 1993 AsA-- Goldfielda (AMEP) Mining 165.0 - 165.0 4/ 1992 Achiot Brwry Beer Mrs. 3.5 1.0 4.5 1993 Ghaa Lassing Capital Marut - 0.8 0.8 1994 GHUMCO (AEF) M 0.5 - 0.5 Toeal Grn Comnibnr 4U.0 13.1 424.1 law IpWmb, ,leGWamw, md wS7.& 2575 4.< 261.9 Net Commibt,u d by DFC 13.5 8.7 162. Toa Undl5bued 3 M O Inveesb approed but msignsd as of Doewbe 31, 1993 1992 Afaiwa Fam Agrculue 0.4 - 0.4 1992 Kaoa Fam Ag_Iulur 1.0 1.0 1993 Phamplas Plastic CoeWni 0.2 - 0.2 1.6 0.0 1.6 UI/cblu a US$27.5S ina.paddpdoe 2I.Amougs * wrioci off. S Incl m USS29.0 Mfllapalpsdam 4/1 cbilea aUS$35.0 _ uMdi pacpain. SI losuie aUS30.0 mii dpadIce. il b is a US$l110.0 mioan pwdep.aua  Schedule D Page 3 of 3 GHANA - IMPLENTATION ISSUE Ghaas overall poje le pfonnance contnues to compare fvorably with other countries an the Region. An incrased focus on implemenation complemented h actons to addre geeic as wel as project speciic isses, reed in disbursements increaing by over 30 percent in FY93 on investme lending. A Country o and Statea Review (CSIR) held in June 1993 addresed amongst others the iue of cou t finds, lack of which is now begnning to bave a serious inm on our projects Key actions t followig the CSIR indude setting up of a task fomce to xamie the mehnism needed for centaly adminisering pooled prject accounts instead of maintang separt proje accouns, which has ruted i funds being ted up in some ministries even as othe ministrie lacd funds. The task force has made its mns plementaon is expected to folow once the deti of the new mechanism have been agrced and approved. Th other mam focus at the CSIR was to examine ways to improve procrem procesing. A mplification f p emt procedurs was also agred; the number of steps for review and approval have been reduced. To improve portfilio perfmnce, the Resident Mission's supervision capacity has been strengthened, and its potflio monitoring activities have increased. Intensive supervision and mid-term reiews are being used to redesig slow-moving projects. Total disusements as of end-December 1993 amoumt to $98.7 millin of which $48.2 million or about S0