Cambodia - Phnom Penh Power Rehabilitation Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No. P-6597-KH MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 25.8 MILLION TO THE KINGDOM OF CAMBODIA FOR A PHNOM PENH POWER REHABILITATION PROJECT SEPTEMBER 5, 1995 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 Eguivalents (At Appraisal - January 1995) Currency Unit Riel ( US$1.00 = R 2,600 R 1,000 = US$ 0.40 Wei2hts and Measures km = Kilometer (0.6214 miles) kV = Kilovolt (1,000 volts) KVA Kilovolt-Ampere MVA = Megavolt-Ampere MV'Ar Megavolt-Ampere reactive (1,000 kVA) kWh = Kilowatt-hour (1,000 watt-hour) MW = Megawatt (1,000 kilowatt) Abbreviations and Acronyms ADB = Asian Development Bank CAS = Country Assistance Strategy EDC = Electricite' du Cambodge ERP = Emergency Rehabilitation Project GDP = Gross Domestic Product ICB International Competitive Bidding IDA = International Development Association IPP = Independent Power Producer JICA Japan International Cooperation Agency LV Low voltage MEF Ministry of Economy and Finance MIME = Ministry of Mines, Industry and Energy MV = Medium voltage NCB National Competitive Bidding PHIRD Policy and Human Resources Development Fund PMU Project Management Unit ROW Right of Way TA = Technical Assistance UNDP = United Nations Development Programme UNTAC United Nations Transitional Authority in Cambodia UNV = United Nations Volunteer Government Fiscal Year January 1 - December 3 1  FOR OFFICLAL USE ONLY Kingdom of Cambodia Phnom Penh Power Rehabilitation Project Credit and Project Summary Borrower: The Kingdom of Cambodia. Implementing Agencies: Electricite' du Cambodge (EDC). Ministry of Industry, Mines and Energy (MIME) Beneficiaries: Electricite' du Cambodge (EDC). Ministry of Industry, Mines and Energy (MJvIME) Poverty: Not Applicable Amount: SDR 25.8 million (US$40 million equivalent). Terms: Standard IDA terms with maturity of 40 years. Commitment Fee: 0.50% on undisbursed credit balances, beginning 60 days after signing less any waiver. Onlending Terms: The Credit, less an amount equal to US$6 million equivalent, will be on-lent to EDC within three months after it has been established as an autonomous juridical entity, at a variable interest rate equal to LIBOR plus one- half of one percent, with repayment over 17 years, including a grace period of five years, and foreign exchange risk being borne by EDC. Financing Plan: See Schedule A. Economic Rate of Return: 21.5 % Staff Appraisal Report: No. 14378-KH Map: IBRD No. 26880 Project ID Number: KH-PA-4032 This document has a restricted distribution and may be used by recipients only in the performance of their Iofficial duties. Its contents may not otherwise be disclosed wiLhout World Bank authorization.   MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF IDA TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO THE KINGDOM OF CAMBODIA FOR A PHNOM PENH POWER REHABILITATION PROJECT 1. I submit for your approval the following memorandum and recommendation on a proposed development credit to the Kingdom of Cambodia for SDR 25.8 million, the equivalent of US$40 million, on standard IDA terms with a maturity of 40 years, to help finance a project for the rehabilitation of Phnom Penh's power system. Background 2. The Kingdom of Cambodia, with an area of 180,000 km2 and a population of around 10 million, is one of the poorest countries in the world: per capita gross domestic product (GDP) is US$200. The largest city is Phnom Penh, the capital, with a population of about 800,000. After a long period of war and political disruption, the Government has made impressive progress on the macroeconomic front; high inflation has been brought under control, the exchange rate stabilized and growth has been relatively strong -- official data show real GDP growth of 4.1% in 1993 and 4.0% in 1994. This improvement is associated also with the introduction of market reforms and the political security provided by a United Nations intervention that allowed the election and establishment of a coalition government, business activities to increase and foreign investment to begin flowing into the country. Nevertheless, progress is threatened by a breakdown of basic infrastructure, including the power supply, which was virtually destroyed in past years, and by an overall fragile security situation. 3. The organizational framework of the energy sector was changed when the current administration took office. The Ministry of Industry, Mines and Energy (MIME) was established in 1993 with the following broad responsibilities: (a) planning, formulating policy, regulating and auditing the sector; (b) generating and distributing electricity; and (c) coordinating energy projects (including donor activities). Electricity supply is the responsibility of Electricite' du Cambodge (EDC), a national utility that reports to, and operates under the direct supervision of, MIME. EDC is the largest organization in the sector. The private sector also supplies various forms of energy. 4. The Government's overall objective is to rebuild the country, sustain its development, and realize its full economic potential. To achieve this, its energy policy aims to: (a) provide an adequate supply of low-cost energy throughout the country; (b) ensure a reliable, secure electricity supply at prices that facilitate investment; (c) encourage exploration and environmentally and socially acceptable development of energy resources to supply the needs of all sectors; and (d) encourage the efficient use of energy and minimize environmental degradation related to energy use. While this policy addresses long-term issues, short-term Government objectives focus on restoring an adequate energy supply as soon as possible.  -2 - 5. All the commercial energy used in Cambodia is imported. Electricity is generated through small, isolated thermal systems that are usually diesel fired. By far the largest is in Phnom Penh, where consumption accounts for more than 85 percent of the national total. At the national level, electricity use was approximately 26 kWh per person per year, one of the lowest levels in Asia (average consumption among countries of the region is 815 kWh per capita, while in Thailand and Vietnam it reaches 980 kWh and 110 kWh, respectively). In Phnom Penh, only 25 MW (of the total 71 MW installed capacity) are available for normal operations; this does not meet the city's demand, which is estimated at 55-60 MW. Thus, if Cambodia is to sustain moderate economic growth, Phnom Penh's power shortage needs to be overcome. To this end, various new generating sets are being installed, with the support of several donors (Asian Development Bank, Japan International Cooperation Agency and IDA). However, this additional capacity of about 40 MW will not be enough to meet future demand and provide a reliable supply. Thus, the Government has decided to expand generation through direct private participation. A power purchase agreement for a 35 MW diesel plant was signed recently, and generation additions beyond 1998 are being assessed. 6. Phnom Penh's distribution network is old and minimally maintained. Hence, the network is expected to suffer from interruptions, failures and high losses (currently around 35-40 percent) until it is rehabilitated. Power outages are so acute that economic activities and essential services (such as water treatment and pumping) are severely curtailed. As a result, many consumers have installed their own generating units at high investment and operating costs. 7. EDC's financial situation is precarious. Although electricity tariffs are relatively high -- 245 and 350 Riel/kWh (9.8 and 14 UScents/kWh) for wholesale and retail customers respectively -- steep production costs, high losses and a poor collections record have caused EDC to run a large cash deficit in past years, covered by the Ministry of Economy and Finance (MEF). At present, 148 wholesalers distribute power, obtained through metered supply from EDC and sold to approximately 40,000 individual customers. Although this arrangement relieves EDC from retail operations, it is a main source of inefficiencies resulting in high technical losses and a major constraint to EDC's finances. 8. The sector's maladies go beyond its poor technical and financial performance. EDC is a weak utility that lacks skilled management and technical staff. A large part of the problem stems from past policies which treated the power sector as a public service instead of a commercial operation. Consequently, the Government's role was not limited to formulating policy but included direct intervention in daily operations. The sector's new organization still mandates that EDC report directly to the MIME, and it gives no autonomy to operate the utility efficiently. Also, it gives the MIME multiple roles -- as policy maker, regulator and operator -- that create a conflict of functions. The Government is aware of these problems and is committed to introducing reforms that will commercialize the sector and introduce efficiency incentives. A first step towards these  - 3 - objectives has been the agreement reached between MIME and EDC to implement a two- year Performance Plan. 9. The Government issued in 1994 an energy sector position paper that proposes to enact a new power sector law that would facilitate private participation, and to establish EDC as an autonomous juridical entity. The Government's immediate strategy aims at: (a) re-establishing an adequate supply of electricity nationwide; (b) strengthening the sector's managerial and implementing capability, to ensure the effectiveness and sustainability of current and future operations; and (c) creating the appropriate environment needed to promote a sustained, efficient and environmentally sound growth and operation of the sector, open to competition and private sector participation. In support of this strategy, measures are being launched with assistance from the IDA (under both the project and the on-going Emergency Rehabilitation Project), other donors and the private sector to: (a) expand the generating capacity in Phnom Penh and several provincial regions; (b) rehabilitate Phnom Penh's distribution system; and (c) strengthen EDC's management and technical capability through a United Nations Development Programme (UNDP)-funded Bank-executed technical assistance (TA) project. In addition, IDA has been supporting the MIME's preparation of an Electricity Act and statutes to establish EDC as a separate juridical entity. Further IDA support will include TA for designing a suitable structure for the sector and utility, and setting up an appropriate regulatory framework. 10. The Government has agreed on a timetable for sector reform that includes: the establishment of EDC as a separate juridical entity by December 31, 1995, the enactment of the Electricity Act not later than June 30, 1996, and the establishment of an autonomous regulatory body for the sector by September 30, 1996. Project Objectives 11. The main objectives of the project, which has been designed to be consistent with the Bank's power sector strategy, are to support the rehabilitation urgently needed for Phnom Penh's distribution system as well as the Government's initial efforts to strengthen sector institutions. Also, the project would help create an environment in which the power sector can be developed and operated efficiently, including the involvement of the private sector. To this end, the project will finance priority investments and provide much needed TA. Project Description 12. The project includes the following principal components: (a) Rehabilitation of Phnom Penh's distribution system comprising: (i) construction of about 23 km of 115 kV transmission circuits around the perimeter of Phnom Penh to connect three new primary 115/22kV substations; (ii) construction of about 100 cct-km of 22 kV underground and  - 4 - overhead lines, 300 km of low voltage lines, 40 MVA of distribution transformers, 20 MVAr power factor correction equipment and about 40,000 consumer connections; (iii) provision of support facilities, including tools and equipment, communications, storage areas and logistics controls; and (iv) improvement of environmental and safety conditions at existing power plants. (b) TA comprising assistance for: (i) within EDC -- procurement and engineering, importation of management services, strengthening of commercial operations, setting up of an environmental unit, implementing the land acquisition and compensation plan and training EDC staff, and (ii) within MIME -- defining and implementing a new sector structure and regulatory framework, and training staff in energy planning. 13. The IDA Credit equivalent to US$40 million will be made to Cambodia on standard terms. The financing required for the project (including capitalized interest during construction) is estimated at about US$46 million equivalent, with a foreign exchange component of about US$37 million equivalent. The Credit would finance the full foreign exchange cost less interest during construction (US$34.3 million equivalent) and 64% of local costs for locally manufactured items, equipment and construction net of taxes (US$5.7 million equivalent). The Government would use about US$0.8 million of the Credit towards the TA for MIME. The balance would be fully passed on to EDC in two parts, the equivalent of US$6 million as equity contribution, and the remaining about US$33.2 million equivalent as a subsidiary loan. The Government has agreed that it would enter into a subsidiary loan agreement with EDC within three months after EDC is established as a separate entity (i.e., by March 31, 1996). It also agreed that onlending will be in US$ at a variable interest rate equal to LIBOR plus one half of one percent (1/2%), with repayment over 17 years, including a grace period of 5 years. A breakdown of the project costs and the financing plan are presented in Schedule A. Procurement amounts and methods and the disbursement profile are shown in Schedule B. The timetable of the project's key processing events and status of Bank Group operations in Cambodia are presented in Schedules C and D, respectively. A map is also attached. The Staff Appraisal Report, No. 14378-KH, dated September 5, 1995 is being distributed separately. Project Implementation 14. The project will be carried out in accordance with a project implementation plan. EDC will be responsible for implementing the project, except for the TA activities within the MIME which will be implemented by the MIME. It will obtain adequate consultant services for management, design and procurement activities, as well as for supervising construction. EDC has established a Project Management Unit (PMNU) with responsibility for ensuring implementation of all project components in accordance with the project design and objectives. The 115 kV transmission lines will be constructed and the 115/22 kV substations installed through single-responsibility turnkey contracts. The PMU will establish project teams to supervise the construction of the distribution works. Planning  - 5 - for the medium voltage (MV) rehabilitation program will be linked to the commissioning of the 35 MW private plant; this will ensure that power can be evacuated without incurring penalties. Planning for the low voltage (LV) construction program will be coordinated with EDC's plans to phase out or change the role of electricity wholesalers. The project will encourage the participation of local contractors in the construction of distribution components under the supervision of the PMU. 15. Procedures for monitoring the physical works and financial reports have been agreed upon with EDC, which will furnish quarterly progress reports. These procedures are reflected in EDC's Project Implementation Plan. Project supervision will focus on the following: (a) EDC's investment plan and tariffs; (b) compliance with financial covenants; (c) technical supervision and consultant studies, (d) compensation for the transmission line right of way (ROW); and (e) reforms in the power sector. Project Sustainability 16. The technologies for all project components are conventional and well proven. All project components are essential for re-establishing an adequate power supply in Phnom Penh, hence they are clearly justified in economic terms. Continuation of ongoing management support to EDC and the fact that the PMU is already established will be conductive to the utility's strengthening and the project's efficient implementation, thus assuring its physical and economic sustainability. On the financial side, the Government is committed to keeping energy prices at market levels and has agreed to support EDC in meeting its financial targets. Current efforts in strengthening EDC's management and commercial capability, complemented by a considerable reduction of losses to be achieved by the project, as well as the maintenance of current tariff levels, would contribute towards the project's financial sustainability. Lessons from Previous IDA Involvement 17. There have been no previous direct IDA operations in the power sector in Cambodia. However, the ongoing IDA credit for the Emergency Rehabilitation Project contains an infrastructure component, including additional 10 MW generating capacity in Phnom Penh. Two main lessons have been learnt from this ongoing operation. First: public entities' implementation capacity is extremely weak; and second: local ownership is an essential condition to guarantee an effective implementation of projects. These lessons have been incorporated in the preparation of the project. Accordingly, a TA component will be provided to strengthen EDC's implementation capability, and the project has been designed in close coordination with EDC staff, including an early preparation of bidding documents. Rationale for IDA Involvement 18. The policies and programs pursued by the Government and supported by the project are substantially in compliance with the Bank's policies and guidelines for power sector operations. The project fits well with the IDA's Country Assistance Strategy  -6 - (CAS, Report No. 14465-KH) presented to the Board on June 8, 1995. As discussed in the CAS, the Bank's support to Cambodia for the next year will focus on: (a) assisting the Government to strengthen its capacity in setting clear priorities and implementing development programs; (b) carrying out further analytical work; and (c) supporting critical measures that will have a significant and quick impact within each sector. The project is in compliance with all of the above mentioned approaches. 19. Cambodia's investment requirements in power are large (above US$170 million in the medium-term). While IDA can only finance a fraction of these needs, its participation in supporting urgent distribution investments will help fill a critical gap and at the same time will provide enough confidence to help in attracting funds for generation from public and private sources. The Government has stated clearly its interest in reforming the power sector, attracting private participation, and strengthening its institutions. Through its involvement in financing EDC's program, IDA will be able to play a key role in helping the Government in the initial stage of reform, and over time help the Government effectively address issues relating to: (a) power sector regulation, restructuring and commercialization; (b) institutional strengthening; (c) investment planning and resource pricing; (d) environmental discipline; and (e) establishment of a land acquisition and compensation policy. Agreed Actions 20. Agreement has been reached with the Borrower that it would inter alia: (a) implement a timetable for the reform of the power sector, which includes the establishment of EDC as a separate entity by December 31, 1995, the enactment of the Electricity Act by June 30, 1996, and the establishment of an autonomous regulatory body for the power sector by September 30, 1996 (if any of these events do not take place by their respective date, IDA would have the right to suspend Credit disbursements); (b) implement the Land Acquisition and Compensation Plan in a manner satisfactory to IDA, and monitor its implementation on a regular basis; (c) enter into a subsidiary loan agreement with EDC, under commercial terms satisfactory to IDA, within three months after EDC is established as a separate juridical personality; (d) take all action necessary to ensure that MIME and EDC carry out the Performance Plan; (e) ensure that EDC redefines the role of, or phases out, all electricity wholesalers prior to the initiation of the low voltage construction program under the project;  - 7 - (f) review annually EDC's investment program and electricity tariffs, in consultation with IDA, and thereafter make the necessary adjustments; (g) approve the reconstituted balance sheet of EDC and assist EDC to collect outstanding account receivables not later than February 28, 1996; and (h) take all measures required to ensure that EDC: (i) produces sufficient revenues to cover all its expenses; (ii) produces rates of return on revalued assets of not less than 6% in FY99 and thereafter; and (iii) reduces account receivables to three months of sales revenue by December 31, 1998, and to 2.5 months of sales revenue by December 31, 1999. Environmental and Social Aspects 21. The project's overall environmental impact is expected to be positive, since an old, hazardous distribution system will be replaced, energy losses will be reduced and consequently, a large number of inefficient generating units will cease to operate. In addition, the project will upgrade the existing power stations in Phnom Penh, improving environmental and safety conditions. Accordingly, the project has been classified in the B category. 22. The project's environmental impact was assessed focusing on: (a) route selection and effects of the proposed transmission line and associated substations; and (b) clean-up and safety at existing power stations. Social and environmental issues were key factors for the selection of the transmission line route and location of substations. Overhead 115 kV pole-mounted lines routed along roads will minimize ROW requirements. The following components will involve land acquisition: two (out of three) grid substations and the 23 km transmission line. In total, the project will affect 32 households, of which 15 houses will need to be relocated. The Government has given its official approval for the Land Acquisition and Compensation Plan and it will implement this Plan, in a manner acceptable to IDA, before the transmission line and substations contracts are awarded. Benefits and Risks 23. The project would help ensure the country's economic growth, as it would provide badly needed capital to rehabilitate Phnom Penh's power system, which, in turn, would remove a main infrastructure bottleneck. The main benefits of the project are: (a) the improvement of the reliability of supply to existing consumers; (b) the reduction of system losses and increase of transmission and distribution efficiency; and (c) the provision of additional distribution capacity to satisfy rapidly growing demand. Improved reliability will increase quality of supply and reduce the economic losses from outages and voltage fluctuation; loss reduction and capacity increase will allow to increase sales at least cost while contributing towards a more efficient use of energy. The internal economic rate of return of the project is estimated at 21.5%. The project will contribute also towards the strengthening and modernization of sector institutions, preparing them to handle  -8 - effectively the urgent requirements of the power system and enabling the environrnent for a sustained and efficient growth and operation of the power sector, open to private participation. The achievement of these long term objectives would allow ultimately the reduction of real tariff levels while keeping an adequate quality of supply. 24. Project risks are primarily associated with the weaknesses of the sector institutions. If these weaknesses are not addressed effectively, the project could face delayed procurement and implementation, cost overruns and poor operation and maintenance. To mitigate these risks, the TA component of the project will provide the services of foreign experts to adequately train the local staff, supervise the works and control the quality of the results. With regard to the broader institutional framework, the Government has demonstrated the willingness to implement reforms to create an efficient, autonomous and commercially viable power utility and open the sector to private participation; this would indicate that the risk of lack of commitment is low. The TA and capacity building component of the project will specifically assist the power utility and the Ministry in defining and implementing the reform process. Country risks that may affect the project are of political nature. The current political situation is fragile and could change in any number of directions. The project is proposed under the assumption that governance will improve as legal reform, civil service reform and training programs progress and the political situation remains stable. Recommendation 25. I am satisfied that the proposed credit would comply with the Articles of Agreement of the Association and recommend that the Executive Directors approve it. James D. Wolfensohn President Attachments The World Bank Washington, D.C. September 5, 1995  -9 - Schedule A CAMBODIA PHNOM PENH POWER REHABILITATION PROJECT Cost Estimates and Financing Plan Cost Estimates: Component Riels Million US$ Million Foreign _________ as Local For. Total Local For. Total % of I____ Totals A. I115 kV Transmission Systeml 115 kV Transmission Lines 604 3421 4025 0.24 1.37 1.61 85 115/22 kV Substations 2425 18225 20650 0.97 7.29 8.26 88 B. Distribution System Rehabilitation 22 kVRehabilitation 4502 13505 18006 1.80 5.40 7.20 75 LV Construction and Consumer Services 7500 22501 30002 3.00 9.00 12.00 75 C. Operational and Construction Support Facilities Operational and Commercial Equipment 75 5125 5208 0.03 2.05 2.08 99 Stores and Logistics 103 1150 1253 0.04 0.46 0.50 92 Environmental Enhancement and Safety 83 735 818 0.03 0.29 0.33 88 D. Technical Assistance 749 6741 7490 0.30 2.70 3.00 90 E. Land Acquisition and Compensation 675 0 675 0.27 0.00 0.27 0 F. EDC Administration 400 0 400 0.16 0.00 0.16 Total Base Cost 17122 71403 88526 6.85 28.56 35.41 81 Physical Contingencies 1711 7141 8852 0.68 2.86 3.54 Price Contingencies 3265 7238 10505 1.31 2.90 4.20 Total Project with Contingencies 22098 85785 107883 8.84 34.31 43.15 79 Interest During Construction 218 6076 6293 0.09 2.43 2.52 1 TotalProject Financing 22316 91860 114177 8.93 36.74 45.67 80 Financing Plan: USS Million Source Local Foreign I Total IDA Credit 5.69 34.31 | 40.00 EDC Self Financing Government Equity 3.24 2.43 | 5.67  - 10- Schedule B Page 1 of 2 CAMBODIA PHNOM PENH POWER REHABILITATION PROJECT Procurement and Disbursement A. Summary of Proposed Procurement Arrangements (US$ million) Project Component Procurement Method Total Cost ICB NCB Other Works Transmission & Substations 12.0 12.0 (11.5) (11.5) Distribution Construction 5.9 0.5 (a) 6.4 (4.0) (0.4) (4.4) Buildings and site works 0.5 0.5 (0.4) (0.4) Goods 20.2 20.2 (20.2) (20.2) Consultants 3.5 (b) 3.5 (3.5) (3.5) Total 38.1 0.5 4.0 42.5 (c) (35.7) (0.4) (3.9) (40.0) (a) refers to pilot program for local contractors. (b) refers to engagement of consulting services. (c) excludes EDC's administration and compensation expenses. In brackets: IDA funding B. Disbursements Amount of the Credit Allocated % of Expenditures Category (Expressed in SDR Equivalent) to be Financed (1) Civil works 280,000 70% (2) Goods and 21,450,000 100% of foreign expenditures, 100% installation works of local expenditures (ex-factory cost) and 70% of local expenditures for other items procured locally (3) Consultants' services: 100% (a) EDC 1,700,000 (b) MIME 430,000 (4) Unallocated 1,940,000 TOTAL 25,800,000  Schedule B Page 2 of 2 CAMBODIA PHNOM PENH POWER REHABILITATION PROJECT Disbursement Profile Estimated Disbursement IDA Cumulative Disbursement FY IDA EDC % US$ million US$ million million Riels 1996 2 2500 5 2 1997 10 3750 30 12 1998 18 5000 75 30 1999 10 2925 100 40  - 12 - Schedule C CAMBODIA PHNOM PENH POWER REHABILITATION PROJECT Timetable of Key Project Processing Events (a) Time taken to prepare the project: 12 months (July 94 - July 95) (b) Prepared by: EDC with the assistance of expatriate consultants and IDA missions (including services financed by a PHRD Grant). (c) First IDA mission: July, 1994. (d) Appraisal mission departure: January, 1995 (e) Negotiations: August, 1995 (f) Planned date of effectiveness: November, 1995 (g) List of relevant PCRs and PPARs: Nil This report is based on the findings of an appraisal mission which visited Cambodia from January 23 to February 3, 1995. The mission was comprised of Messrs./Mnes. Enrique Crousillat (Mission Leader, EAIIN), John Irving (Power Engineer, EA1IN), Sumila Gulyani (Resettlement Specialist, ASTHR) Emilia Battaglini (Economist, IENPD) and P.T. Venugopal (Financial Analyst, consultant). Other impol tant contributions to project preparation were made by Lars Lund (Resettlement Specialist, ASTHR), Yaacov Ziv (Environment Specialist, ASTEN) and Peter Cordukes (Financial Analyst, IENPD). The report was reviewed by Messrs. Hernan Garcia (IENPD) and Robert Taylor (EA2IE) as peer reviewers. Mmes. Hamideh Keyhani, Theresa Gamulo and Bobbie Brown assisted in the processing of the report. It was cleared by Messrs. Callisto E. Madavo, Director, EAI, and J. Shivakumar, Chief, EAIIN.  - 13 - Schedule D C AMBODIA PHNOM PEiNH POWER REHABILITATION PROThCT STATUS OF BANK GROUP OPERATIONS IN CAMBODIA A. STATEMENT OF BANK LOANS AND IDA CREDITS /a (As of June 30. 19951 Amount (USS million(Ib Loan or {less cancellacionsl Credit Fiscal Undis- Number Year Borrower Purpose IDA bursed 2550 1994 Cambodia Emergency Rehabilitation 62.70 15.22 2661 199S Cambodia Technical Assistance 17.00 17.17 2739 1995 Cambodia Social Fund 20.00 20.99 Total 99.70 53.38 of which has been rcpaid 0.00 Total Now Held By Bank and IDA 99.70 Amount sold 0.00 of which repaid 0.00 Total Undisbursed 53.38 53.38 la Thie status of the projects listed in Part A is described in a separate report on all IBRO/IDA-linanced projects in execution. which is updated twico yearly and circulated to the Executive Directors on April 30 and October 31. /b Principal amounts in USS equivalent at date of negotiations, and undisbursed amounts in equivalent are valued at exchange rate applicable on the date of this statement. B. STATEMENT OF IFC INVESTMENTS None   IBRD 26880 CAMBODIA -t CHINA I PHNOM PENH POWER LAOS-) REHABILITATION PROJECT X THAILAND (. "B 15' 15 '~CAMBODIA~ NAM 1100' 10~5' 1 10' Thr Wdd 8oo Gii ull I''{y _d--\ Nightmanket 6- h u-oo, SCOPE OF IDA DISTRIBUTION