India - Tamil Nadu Water Resources Consolidation Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No.P-6627-IN MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 181.9 MILLION TO INDIA FOR A TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT MAY 19, 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 EQUIVALENTS US$1.00 = Rs. 32 WEIGHTS AND MEASURES The metric system is used throughout this report. GOVERNMENT FISCAL YEAR April 1 to March 31 ABBREVIATIONS AND ACRONYMS EIC - Engineer-in-Chief ERR - Economic Rate of Return GOI - Government of India GOTN - Government of Tamil Nadu IDA - International Development Association lWS - Institute of Water Studies LAER - Land Acquisition and Economic Rehabilitation PWD - Public Works Department SWP - State Water Policy TNEB - Tamil Nadu Electricity Board WRCP - Water Resources Consolidation Project WRCRC - Water Resources Control and Review Council WRO - Water Resources Organization  FOR OFFICIAL USE ONLY INDIA TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT CREDIT AND PROJECT SUMMARY Borrower: India, Acting by its President Executing Agency: Water Resources Organization (WRO), Government of Tamil Nadu (GOTN) Amount: IDA Credit of SDR 181.9 million (US$282.9 million equivalent). Terms: Standard, with 35 years maturity On Lending Terms: From GOI to GOTN under standard arrangements for developmental assistance to the States of India. GOI would assume the foreign exchange risk. Financing Plan: Loca Forign Tol Pfrogra .U m.iUiS-.--$. Project Investment Costs GOTN 32.7 0.0 32.7 IDA 234.2 48.7 282.9 WRO Recurrent Costs (GOTN) 148.3 27.1 175.4 PROGRAM TOTAL 415.2 75.8 491.0 Economic Rate of Return: 17 % Poverty Category: Not Applicable Staff Appraisal Report: Report No. 13506-IN Map: IBRD No. 26167 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 TO INDIA FOR A TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT 1 I submit for your approval the following memorandum and recommendation on a proposed development credit to India for SDR 181.9 million (US$282.9 million equivalent) on standard IDA terms with a maturity of 3 5 years, to help finance the Tamil Nadu Water Resources Consolidation Project (WRCP). 2. Country and Sector Background. Water is an increasingly scarce resource in India. It is distributed unequally, both spatially and temporally, and in many states, the development of water resources is reaching physical limits. Irrigation is the largest user of water, accounting for about 93% of present gross water use. Expansion of irrigation networks has had a major impact on agriculture, a key sector in India's economy, contributing about 35% of GDP and 65% of employment. By 1990, coverage of irrigation had increased from 21 million ha in 1950 to 45 million ha, representing a third of India's cultivated land. The increased volume and reliability of water supplies from irrigation in the past several decades have made possible the adoption and spread of high yielding crop varieties, the increased use of fertilizer, and the cultivation of crops outside (in addition to during) the monsoon season. Irrigated agriculture now contributes over 55% of agricultural output and has been the primary engine of past agricultural growth. With almost all arable lands already cultivated, irrigation will need to continue to play an important role in agricultural growth. 3. Water availability is constrained and available resources must increasingly be allocated for non- irrigation uses: for urban and rural community needs, industry and power, and incorporating management to preserve the environment. While still small in consumption relative to agriculture, growth in these sectors can be expected to be rapid. A recent GOI estimate projects that community needs would double and industry and power sector requirements would increase sevenfold by 2025. Effective planning and management of the water sector to account for physical, economic and environmental needs, are thus critical not just to agriculture but to India's overall economic development. 4. Significant improvement in performance and management of irrigation is possible. In most irrigated commands, sub-optimal water management results in water supply that is unreliable and distributed inequitably with insufficient or no water in tail-reaches and often excess water for head-end farmers. Design and construction deficiencies have often contributed to this situation but the more pervasive problem has been cumulative neglect and inadequate financial contributions to maintenance, resulting in dilapidated infrastructure. Expenditure priorities need reformulation to emphasize improvement and upkeep of existing infrastructure. Cost recovery needs improvement in most states. Farmers also need to be involved in operations and maintenance of irrigation systems. Fundamental to achieving improved performance is the need for upgrading the institutions involved. State irrigation departments have become progressively more outdated in both technical and management skills as sectoral needs, including the need for multi-sectoral water planning, have become increasingly demanding.  2 5. The state of Tamil Nadu, at the southern tip of India has an area of 130,000 km2 and a population of 56 million of which two-thirds are rural. Population density is high at 428 persons/km2 compared with the national average of 264. Agricultural cultivated area is 5.9 million ha of which 41% is under irrigation. Principal crops are paddy, millet and sorghum, oilseeds and pulses, with growing areas under fruits and vegetables, spices, sugarcane and cotton. While annual production of foodgrains increased from 5.4 million ha in the 1960s to 7.5 million tons in the late 1980s, production since 1970 expanded more slowly than population, and in drought years Tamil Nadu has had to import from other states. Large urban centers include Madras (3.8 million people), Madurai and Coimbatore (nearly 1 million each). Relative to the rest of India, Tamil Nadu is both land and, in particular, water short. It has 7% of the country's population but only 4% of the land area and 3% of the country's surface water resources. Water constraints in Tamil Nadu vary by basin, and are influenced by the extent of irrigation development and by urban needs. Scarcity is acute in some areas, particularly for Madras city, for which water is being carried in by train and road. The particular needs of Madras city would be addressed under the proposed Second Madras Water Supply Project. 6. Future Strategy. The need to upgrade the productivity of irrigation and the effectiveness of water planning is increasingly recognized in India, and was discussed in GOI's National Water Policy formulated in 1987. Following this, and based on a comprehensive review of the sector in India (India Irrigation Sector Review, Report No. 9518-IN, 1991) conducted jointly with GOI and state governments, it was determined that achieving improved performance of irrigation would require actions in four main areas: (a) forging a coherent water resources policy; (b) prioritizing expenditures and tightening financial management; (c) improving technical performance; and (d) enhancing institutional capabilities, the role of farmers and the private sector. As part of its preparation for the WlRCP, GOTN articulated a State Water Policy (SWP) in 1994 supporting the above objectives. Actions highlighted in the SWP include: establishment of a state institutional apparatus for planning and allocating water between sectors, including integration of environmental management; improving the efficiency and productivity of existing water infrastructure; cost recovery based on users paying for services and periodic adjustment of water rates; and strong emphasis on beneficiary participation including turning over of maintenance and management of distribution systems to users as the systems are upgraded. 7. Rationale for IDA Involvement and Country Assistance Strategy. The project would implement at the state level the Bank/GOI strategy articulated in the India Irrigation Sector Review. This strategy is directly supportive of the Bank's new water policy detailed in Water Resources Management (September, 1993) which proposes an agenda of policies and institutional reforms that will utilize market forces and strengthen the capacity of governments to carry out their essential roles in resource use and planning. The project is also representative of the Bank's new lending strategy for India, as discussed in the Country Assistance Strategy (CAS) of May 1995. The CAS emphasizes investment lending operations providing comprehensive support to policy, institutional, and expenditure reform for key sectors in states receptive to reform. Reforms would be accompanied by investments in basic infrastructure supporting increased productivity and better management of natural resources. Better institutional and financial performance in the public sector, complemented by devolution of responsibilities to stakeholders and the private sector, is also emphasized. Within this strategy the importance of agricultural development to alleviate poverty is highlighted. In the water sector, WRCPs would be the main vehicle for Bank support in water development and irrigation which, in India, are planned and implemented at the state level, thus requiring a state-by-state approach. The Tamil Nadu WRCP would support the state's new water resources strategy through funding investments under an agreed state-wide program for the sector, emphasizing the new sector  3 priorities and associated institutional and policy reforms. This would be the second WRCP, following Haryana WRCP which was approved in FY94. A third WRCP, for Orissa state, has been recently appraised. Complementing such state-level projects, Bank support would also be selectively provided at the national level to foster improved performance through actions on a multi-state basis: for instance, a proposed National Hydrology Project has been appraised and a follow-on project to the National Water Management Project is under preparation. To implement the new water and irrigation strategy, for both state-specific WRCP's and national level projects, a close and continuous partnership between the states and the central Govemment is required. The Bank is one of the few institutions that can provide the continuity and policy support needed for achieving the long-term strategic goals articulated in the sector strategy papers above. 8. Project Objectives. The project's primary objectives would be to: (a) introduce water resources planning by river basins across all uses of water; (b) improve agricultural productivity through modemization and completion of irrigation systems, upgraded water management and farmer participation; (c) assure sustainability of water infrastructure and the environment; and (d) improve institutional and technical capability for managing the state's water resources. Taking into account lessons leamt from past Bank projects in the state, the proposed project is designed to meet these objectives by helping GOTN put in place a comprehensive and sustainable water resources development program for the state. The state's capacity to implement such a program would be based on three closely interlocking and interdependent elements: an organizational structure designed and staffed to address the activities to be taken up in the near and longer term; strengthening of technical capabilities, including in water planning and environmental management; and, a program and budgeting process which shapes the schedule of future investments to fit the available funds. The state's public expenditures in the water resources sector would be re-oriented toward sustaining past investments, and promoting growth-enhancing investments for the future. These objectives would be supported by specific investments, related policy reforms and institutional strengthening. 9. Project Description. The project would be a sector investment loan, financing an agreed state-wide program to improve productivity and sustainability of Tamil Nadu's irrigation sector, to introduce multi-sectoral water planning, to integrate farmers in irrigation management, and to strengthen the state's institutional and technical capability in water development, management and planning. The project components are as follows: (a) Systems Improvement and Farmer Turnover to improve productivity through rehabilitation and modernization of the existing irrigation systems integrated with participation of farmers and turnover of operations and maintenance (O&M) of improved distributaries, as well as funding of O&M, to water user associations (55 % of project investment base costs); (b) Scheme Completion Investments to complete viable investment on existing schemes for increased availability and reliability of water (29% of project investment costs), (c) capacity building in Water Planning. Environmental Management and Research to introduce multi- sectoral water planning, incorporate environmental management in all aspects of water planning, investment and management, and to enhance research in the water sector (8% of project investment costs); (d) Institutional Strengthening of Tamil Nadu's Water Resources Organization (WRO) to strengthen capabilities in all professional and management areas (7 % of project investment costs); and (e) associated Land Acquisition and Economic Rehabilitation for project affected persons (1% of project investment costs). 10. Policy Reforms. In preparation for the project, and following on from its 1994 State Water Policy, GOTN has commenced a rigorous program of policy and institutional reforms: (a) a fundamental action was the creation of a specialist Water Resources Organization (WRO) from the  4 former construction-oriented irrigation wing of the Public Works Department. WRO will handle state- wide provision of irrigation and drainage, bulk water supply and flood control and also be responsible for coordinating state water planning across sectors. Within the new WRO, a staff reorganization is under way to create streamlined and decentralized management and functionally specialized management units; (b) a Water Resources Control and Review Council (WRCRC) and supporting institutional linkages have also been created to handle multi-sectoral water planning and allocation; (c) priorities for public expenditures have been overhauled, with emphasis now on maintenance and improved water management rather than on new construction; (d) state financial allocations for maintenance have been doubled to bring them up to BankAWRO recommended amounts; (e) a program to involve farmers in irrigation, operations and maintenance has been prepared and implementation commenced; (f) institutional procedures have been established for annual review of cost recovery and water charges; (g) WRO's institutional capability for environmental management has been strengthened and an Environmental Action Plan prepared; and (h) a new structure and procedures for handling land acquisition and economic rehabilitation (LAER) have been established. These and other actions in preparation for the project have been formalized through issuance of relevant Government Orders which have established, prior to project commencement, all institutional and policy measures required for project implementation. 11. Program Costs and Financing. The total cost of WRO's program during the project implementation period is estimated at US$491.0 million, with a foreign exchange component of US$75.8 million (15%) and taxes and duties estimated at about US$34.4 million. Program costs comprise the investment costs of the WRCP and WRO's recurrent expenditures. Investment costs amount to US$315.6 million and cover: investment expenditures on civil works for systems improvement and scheme completions; and the costs of equipment, facilities, and training/consultancies, for water planning, research, institutional development, the environmental action plan, and LAER. WRO's recurrent expenditures comprise the costs of maintenance, staff salaries and overheads, and would be funded entirely by GOTN. IDA funding would contribute to the project investment costs of the WRCP and would finance US$282.9 million, representing 58% of program costs (62% exclusive of estimated taxes and duties) or the equivalent of 100% of the foreign exchange requirements and 54% of local program costs net of taxes and duties. To reimburse GOTN for expenditures relating to project start-up, retroactive financing would be applied to all eligible expenditures incurred from July 1, 1994. Additionally, for completing the remaining (7%) balance works for the link canal under the former Periyar Vaigai Irrigation II project, the earlier date of November 1, 1993 would be applied (up to US$1.5 million). The total amount of retroactive financing, including the link canal, would amount to up to US$11 million or about 4% of the Credit. To expedite project implementation and reduce the volume of withdrawal applications, a special account would be established in the Reserve Bank of India with an authorized allocation of US$ 10 million, equivalent to four months estimated average disbursements. A breakdown of program and project investment costs, and the financing plan, are shown in Schedule A. Procurement and disbursement arrangements are in Schedule B. A timetable of key project processing events and the status of Bank Group operations are given in Schedules C and D, respectively. A map is also attached. The Staff Appraisal Report, No. 13506-IN, dated May 19, 1995, is being distnrbuted separately. 12. Project Implementation. The proposed project would be carried out by WRO. Overall responsibility for implementation and coordination of project activities would lie with the Engineer in Chief, WRO, under guidance of the Secretary, WRO. The Water Resources Control and Review Council (WRCRC), formed in 1994 and chaired by the Chief Minister, would be the highest state body for coordinating basin and state water planning and allocation across sectors. WRO's Institute of  5 Water Studies (IWS) would be the Secretariat of the WVRCRC and Nodal Agency for state water planning. Intensive training and access to international and national consultancies is integrated in all project activities. For project planning and monitoring, WRO's Program and Budgeting (P&B) unit would be responsible for developing and maintaining a system of physical and financial reporting to track project progress, maintain a computerized Management Information System (MIS), and coordinate preparation of WRO's quarterly reports and its Annual Review, Action Plan and Budget (ARAPB). The ARAPB would be the primary management tool for planning and supervising the project. A Monitoring and Evaluation (M&E) unit would use P&B and other data (including consultant surveys as needed) to report on the progress and benefits of the project. Additionally, GOTN has committed to a strong supervision role itself, and to this effect has established a state Supervision Committee to be supported by supervision consultants, who would be funded under the project and would also copy their reports to IDA. 13. Previous Bank/IDA Experience in Tamil Nadu. The Periyar Vaigai Irrigation I1 Project (Cr. 1468-IN/SF 16-IN) financed extension and improvement of the old Periyar Vaigai system in southern Tamil Nadu and closed on October 31, 1993. The Project Completion Report concluded that the project met its physical objectives and achieved an ERR of 25%. Sustainability was also considered satisfactory. The project with the greatest relevance to the WRCP is the National Water Management Project (NWMP, Cr. 1 770-IN), which has enabled the gaining of field experience for the WRCP's principal component. A study of an NWMP command in Tamil Nadu by the International Irrigation Management Institute concluded that significant increases in productivity are being achieved. The momentum built up under Tamil Nadu's component of the NWMP has facilitated preparation of the WRCP's main component, the systems improvement and farmer turnover program, which has similar engineering features, and has enabled commencement in the field, of WRCP pre-investment and farmer organization activities. 14. Beneficiary Participation. Farmers and other stakeholders are an integral part of the project's management and implementation arrangements. Based on past experience in Tamil Nadu, and intensive piloting during project preparation, the project's Systems Improvement and Farmer Turnover program incorporates farmer organizations in planning, implementation, maintenance, and cost recovery. At distributary levels prior to investment, Farmer Councils would agree under a Memorandum of Understanding with WRO to take over responsibility for maintenance, water management, and associated cost recovery, and would collect an initial deposit from its member farmers as a demonstration of commitment. These funds would be placed in an interest-earning Council bank account to capitalize member resources for future maintenance and investment activities. At whole command levels, Apex Committees comprising representation from all Farmer Councils in the command, would participate with WRO staff in water management and investment decisions. Formal turnover of O&M responsibilities to Farmer Councils would be accompanied by intensive training and would also involve an interim period (about 6-9 months) of "joint management". 15. Environmental Management. A Sectoral Environmental Assessment (EA) conducted by WRO and international consultants concluded that the project's investment components were environmentally beneficial as the resultant improved water management would mitigate against problems such as waterlogging, salinization, depletion of groundwater levels, and disease risks caused by sources of stagnant water. The EA did, however, recommend a comprehensive set of actions to improve WlRO's environmental capability to monitor, plan, develop and manage the state's water resources. An Environmental Action Plan (EAP), to be funded under the project, incorporates these recommendations. Under the EAP, supported by funding of associated consultancies, training and  6 equipment: (a) environmental units have been established in IWS and the Project Formulation Directorate, respectively handling environmental concerns in state water planning and water resources management, and environmental assessment during preparation of specific sub-projects; (b) environmental data collection is to be enhanced; (c) a groundwater regulatory unit has been established; (d) eco-restoration of catchments with depleted vegetative cover will be funded; and, (e) special studies, monitoring, demonstrations and seminars will be conducted on water related environmental issues. 16. Land Acquisition and Economic Rehabilitation. The project's investment components would involve acquisition of some 570 ha of farmland involving about 1460 project affected persons (PAPs) in about 710 households. No village residential sites are being relocated, although (statewide) 12 dwellings would be affected. The project includes a Land Acquisition and Economic Rehabilitation Action Plan (LAERAP) to enable all PAPs to maintain or improve their incomes and welfare on a sustainable basis. This is based on completed detailed socio-economic surveys and site-specific LAERAPs that have been undertaken by consultants and WRO, and to be implemented with assistance of NGOs. In preparation for the project, GOTN has established in consultation with the Bank, a comprehensive reformulation of its approach to LAER comprising adjusted policies and procedures for LAER in line with Bank guidelines, to ensure full compensation and restoration of earnings capabilities of PAPs, together with creation of a new institutional structure for implementation. This would be through a Special LAER Office headed by a senior government officer, supported by state and district level Coordination Committees. Project funding would support associated consultancies, training, equipment, NGO contracts, and incremental staff and operating costs for the new unit. Objectives under the LAERAP include both fully catering to the specific needs of the PAPs and, more broadly, creating permanent state-level capability for handling all future LAER needs in Tamil Nadu's water sector. 17. Project Sustainability. The project is designed to improve the institutional capabilities of the state's Water Resources Organization, and to ensure the physical, financial, and environmental sustainability of its services. As concerns funding of maintenance, GOTN provisions have been at the levels recommended by WRO and the Bank for the past two financial years, and a detailed assurance has been provided regarding the continuation of this now satisfactory situation. GOTN financing requirements for maintenance will also be progressively eased as the lower levels of the irrigation systems are taken over by farmers. Paralleling the drive to improve the govemment service, emphasis is placed on fostering stakeholder participation in water planning and management, in particular as concems farmer participation in investment decisions, operations and maintenance, monitoring of financial provisions and cost recovery. Over time, stakeholder involvement would foster a demand- driven and client-oriented govemment service, and progressively increasing implementation by the non-govemment sector. Emphasis in all project components is placed on creating permanent institutional capabilities for continued implementation beyond the project period, as in for instance, the institutional apparatus created for water planning, environmental management, LAER, maintenance, the systems improvement and farmer tumover program, and the new programming and budgeting process. NGOs would play a primary role in implementation of the LAERAPs and as extension agents for the project's farmer participation and turnover component. Through the project's Water Resources Research Fund supporting research by Tamil Nadu universities and research institutions linked with foreign or other Indian agencies, Tamil Nadu's water program would be continually enriched with acquisition of state-of-the-art knowledge. With a restructured and improved water resources agency and supporting actions from the non-govemmental sector, Tamil Nadu would be better placed to plan and manage its water resources in response to the state's short, medium and long term needs.  7 18. Agreed Actions. In a Letter of Development Policy (dated November 1, 1994 and attached to the Staff Appraisal Report), Tamil Nadu outlined a strategy for the future development of the water resources sector and provided a statement of policy reforms and actions for improving the management of water resources in the state. Tamil Nadu confirmed during negotiations its commitment to carry out such policy reforms. During negotiations, a number of assurances and understandings were obtained: Assurances. These by and large relate to timely and satisfactory implementation of project activities, and among others include: (a) Any additional scheme completion investments would be prepared and evaluated according to agreed criteria, and would be submitted for IDA review and approval before selection; (b) The LAER component would be implemented in accordance with a plan agreed with IDA; (c) GOTN would: (i) provide annually, and make available to WRO in a timely manner during each fiscal year, the funds required for satisfactory maintenance of all WRO's infrastructure, in order to sustain the infrastructure in full operating order; (ii) provide the maintenance funds to a separate maintenance works budget exempt from withdrawals for salaries and wages; (iii) cause WRO to prepare and submit its annual budget estimate for maintenance to GOTN and IDA based on detailed command-by-command estimates following an agreed reporting, programming and budgeting, and monitoring and evaluation process; (d) NGOs participating in the project would be selected according to criteria agreed with IDA; (e) A draft Annual Review, Action Plan and Budget (ARAPB) for the following fiscal year would be submitted to IDA for review and comment by December 31 each year. The GOTN-approved ARAPB, taking account of IDA comments, would subsequently be forwarded to IDA by each March 31, and WRO would subsequently implement the agreed action plan, including the timely provision of the approved budget funds, in a manner satisfactory to IDA; (f) GOTN would implement a program satisfactory to IDA for reducing subsidies provided to TNEB, and TNEB would implement a satisfactory program for improving its cost recovery and maintaining a sound financial status; (g) By December 31, 1997, GOTN would carry out jointly vith GOI and IDA, a detailed mid-term project review and thereafter implement its recommendations; and (h) GOTN's state-level WRCP Supervision Committee would be maintained for the duration of the project. Understandings. An understanding was also reached that GOI would release three months anticipated expenditures in advance to GOTN, and that GOTN would transfer such funds immediately, together with its quarterly counterpart contributions, to the project accounts of WRO. Additionally, arrangements, scheduling and procedures were confirmed for: (a) WRO's new institutional structure; (b) the farmer organization program; (c) the LAER program; (d) the Water Resources Research Fund; (e) procurement management; (f) technical assistance and training; (g) monitoring and evaluation; (h) scope and contents of WRO's quarterly and annual reports; and (i) the WRCP's supervision arrangements including the state Supervision Committee and the supervision consultancy. 19. Project Benefits. The project would enhance agricultural production on about 0.7 million ha (50% of the state's surface irrigated area) directly benefitting some 4 million persons, of which 70% occupy small and marginal farms. Irrigation would be put on a sustainable footing through rehabilitation and modernization of the systems linked with farmer participation, upgraded maintenance, water management and cost recovery. A specialist state water agency has been created and is being strengthened, including the upgrading of technical capabilities in water planning and environmental management. This would generate broad and long-term benefits essential for Tamil Nadu's present and long-term economic development and sustainability. Farmer participation and turnover would forge a private sector role in management of infrastructure and contain organizational features to foster participation of women and minorities in irrigation's management and benefits. The  8 economic rate of return (ERR) of the project is estimated at 17%, based solely on benefits to be derived from irrigation investments. This excludes the significant indirect and non-quantifiable benefits that would stem from the project's institutional strengthening, water planning, and environmental management activities. Associated measures to create a client-oriented water delivery service and to re-prioritize the state's expenditure program would result in significant cost savings. 20. Risks. The fundamental change in water resources management will, first, require continued political will and sustained effort to be successfully implemented. Key features required (i.e. state water policy, institutional reorganization, reordering of expenditure priorities, staff training and all key project-related decisions and Govemment announcements) were established by GOTN during project preparation. The extensive reforms already implemented provide a strong basis for project start-up and some confidence regarding the critically important continuation of GOTN's commitment. A variety of monitoring and incentive mechanisms have also been built into the project to reduce the risk of shortfall in implementation. Over time, such project measures will be reinforced and significantly overtaken in importance as the client orientation of the project takes hold and users become important as operators of irrigation systems and as parties in state and basin water planning. 21. The second risk relates to the systems improvement and farmer turnover program which, though based on successful piloting in Tamil Nadu, is innovatory on the scale planned under the WRCP. The project includes special monitoring and management features and intensive consultancy, training and NGO assistance. This includes a special review of the farmer turnover program in the second year of the project, sufficiently early in implementation to make timely adaptations as further experience is gained. Third, general implementation capacity constraints of WRO have been addressed in the project's institutional strengthening component, including special arrangements for project monitoring, reporting, financial management, and supervision. In other respects, Tamil Nadu has demonstrated the capability and has had successful experience im undertaking the kind of physical activities to be implemented under the project. 22. Recommendation. 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. Richard H. Frank President ad interim Washington, D.C. May 19, 1995 Attachments  9 Schedule A Page 1 of 1 INDIA TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT Estimated Costs and Financing Plan (US$ million) Program Costs Project Investment Costs Systems Improvement &Farmer Turnover 125.1 18.0 143.1 Scheme Completions 68.5 8.3 76.8 Water Planning, Environmental Management and Research 9.6 11.4 21.0 Institutional Strengthening 13.1 4.6 17.7 Land Acquisition & Economic Rehabilitation 3.8 0.1 3.9 Total Baseline Costs 220.1 42.4 262.5 P'hysical contingencies 20.9 3.1 24.0 Price contingencies 25.9 3.2 29.1 Total Project Investment Costs 266.9 48.7 315.6 WRO Recurrent Costs (GOTN financed) 148.3 27.1 175.4 Total Program Costs a 75.8 41.0 Program Financing Plan Project Investment Costs GOTN 32.7 0.0 32.7 IDA 234.2 48.7 282.9 WRO Recurrent Costs (GOTN) 148.3 27.1 175.4 Total Program Costs 415 2 ?58491.0 a Including taxes and duties equivalent to US$34.4 million.  10 Schedule B Page 1 of 2 INDIA TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT Procurement Arrangements and Disbursements (US$ million) A. Amounts and Methods of Procurementa Projcct EIcmI''nt B NCB t_ir. BFCss 1.Land0.07 2. Civil Works 259.8 9.0 268.8 (233.8) (8.1) (241.9) 3. Vehicles 4.0 1.6 5.6 (3.2) (1.3) (4.5) 4. Equipment and Materials 14.9 1.1 1.1 17.1 (11.9) (0.9) (0.9) (13.7) 5. Consultancies, Studies, and Training (i) Implementation Support 8.7 0.4 9.1 (8.7) (8.7) (ii) Policy Support 3.3 3.3 (3.3) (3.3) (iii) Capacity Building 9.8 9.8 (9.8) (9.8) 6. Incremental Operating Costs (LAER) 1.2 1.2 (1.0) (1.0) TOTAL PROJECT INVESTMENT COSTSC 18.9 260.9 33.5 2.3 315.6 Notes: NBF = Non-Bank Financed (except incremental operating costs for LAER). a Figures in parentheses are the respective amounts financed by the IDA credit. b Other methods include national shopping, force account, engagement of consultants and training. cExcluding WRO recurrent costs, which are funded by GOTN.  11 Schedule B Page 2 of 2 Summary Disbursement Schedule = ~~~.......... .. ...... :Cat~~~~~~~~~ iii ii(.Us$mi:lion4 Percent be finacd Civil Works 241.9 90 % Vehicles 4.5 100 % of foreign expenditures; 100% of local ex-factory costs; or 80% of local expenditures for other items procured locally Equipment/Materials 13.7 100 % of foreign expenditures, 100% of local ex-factory costs, or 80% of local expenditures for other items procured locally Consultancies, Studies 21.8 100% and Training Incremental Operating 1.0 90% of expenditures incurred to March 31, Costs (LAER cell) 1997; 80% through March 31, 1998; 60% through March 31, 1999; 40% through March 31, 2000; and zero thereafter TOTAL 282.9 Estimated IDA Disbursements .,A ,Y ,: ,,,.. .,,,,,,. ... .... .9 1... ... 2.0 i:I1~ 2. ; Annual 27.6 31.2 44.6 50.9 51.0 46.7 30.9 Cumulative 27.6 58.8 103.4 154.3 205.3 252.0 282.9  12 Schedule C Page 1 of 1 INDIA TAMIL NADU WATER RESOURCES CONSOLIDATION PROJECT Timetable of Key Processing Events Time Taken to Prepare: 13 months Project Prepared by: Government of Tamil Nadu with IDA and FAOCP Assistance First IDA Mission: February 1993 Appraisal Mission: March 1994 Negotiations: April, 1995 Planned Date of Effectiveness: July, 1995 List of Relevant PPARs and PCRs: None The report is based on the findings of an IDA/FAOCP Appraisal Mission which visited India in March 1994, and follow-up visits in June 1994 and February 1995. The Appraisal Mission comprised Messrs./Mmes.: K. Oblitas (Mission Leader and Task Manager), A. Pai, G. Fauss, A. Subramanian, E. Schaengold, T. Estoque, F. Grohs, S. Thangaraj, and W. Plummer (Consultant); and S. Rajagopal, N. Sugimura, and T. Lamrock (FAOCP). Additional contributions were made by W. Price, R. Crooks, R. Zwieg, X. Fang, S. Subramanian, N. Raman, T. Sharma, and Consultants D. Groenfeldt, P. Rogers, B. Sunderesan, S. Lele, S. Elumalai, I. Moorehouse and C. Wood. Peer Reviewers for the project were Messrs. W. Ochs and J. Simas (Bank) and Ms. R. Meinzen-Dick (IFPRI). The report is endorsed by Mr. H. Vergin (Department Director) and Mr. S. Barghouti (Division Chief).  SCHEDULE D PAGE 1 OF 6 INDIA Status Of Bank Group Operations In INDIA PFDBR25 - Summary Statement Of Loans and IDA Credits (LOA data as of 3/31/95 - MIS data as of 04/25/95) By Country Country: INDIA Amount in USS miLLion (Less cancellations) Loan or FiscaL Undis- Closing Credit No. Year Borrower Purpose Bank IDA bursed Date Credits 198 Credits(s) closed 14,643.79 C16210-IN 1986 INDIA MAHARASHTRA IRRIG. I 128.82 62.59 12/31/96(R) C16310-IN 1986 INDIA NATIONAL AGRIC. RES. 57.21 13.23 06/30/95(R) C17500-IN 1987 INDIA BOMBAY III WATER SUP 145.00 61.71 06/30/95(R) C17570-IN 1987 INDIA GUJARAT RURAL ROADS 96.75 29.67 12/31/95(R) C17800-IN 1987 INDIA U.P. URBAN DEVELOPME 120.95 47.31 03/31/96 C19230-IN 1988 INDIA TAMIL NADU URBAN 254.73 85.27 09/30/95 C19310-IN '1988 INDIA BOMBAY & MADRAS POP. 57.00 20.15 12/31/95 C19520-IN 1989 INDIA NATIONAL SEEDS III 147.24 56.46 06/30/95 C20080-IN 1989 INDIA VOCATIONAL TRAINING 163.85 100.29 12/31/96 C20100-IN 1989 INDIA UPPER KRISHNA PHASE 160.00 29.12 12/31/96 C20220-IN 1989 INDIA NATIONAL SERICULTURE 133.35 54.21 12/31/96 C20570-IN 1989 INDIA FAMILY WELFARE TRG ( 72.76 37.64 03/31/97 C20640-IN 1990 INDIA TECHNOLOGY DEVELOPME 55.00 45.99 12/31/95 C20760-IN 1990 INDIA PUNJAB IRR & DRAINAG 145.28 100.82 03/31/98 C21000-IN 1990 INDIA WTRSH HILLS 75.00 56.17 06/30/97 C21150-IN 1990 INDIA HYDERABAD U/S 79.90 54.07 03/31/98 C21300-IN 1990 INDIA TECH EDUC I 210.74 135.05 06/30/98 C21310-IN 1990 INDIA WTRSH PLAINS 55.00 46.11 03/31/98 C21330-IN 1990 INDIA POP. TRG (VII) 63.96 34.04 06/30/98 C21580-IN 1990 INDIA SECOND TN NUTRITION 67.52 36.95 12/31/97 C21730-IN 1991 INDIA ICDS I (ORIS & ANDHR 74.35 46.21 12/31/97 C22150-IN 1991 INDIA AGR.DEV.I (TN) 92.80 59.86 09/30/98 C22230-IN 1991 INDIA TECH EDUC 11 255.73 210.35 06/30/99 C22340-IN 1991 INDIA MAHARASHTRA RURAL WS 109.90 90.09 12/31/97 C22410-IN 1991 INDIA DAM SAFETY 130.00 126.37 09/30/97 C22520-IN 1991 INDIA IND POLLUTION CONTRO 31.60 34.16 06/30/98 C23000-IN 1992 INDIA HEALTH I (MCH) 214.50 85.80 09/30/95 C23280-IN 1992 INDIA MAHARASHTRA FORESTRY 124.00 118.24 09/30/98 C23290-IN 1992 INDIA SHRIMP & FISH CULTUR 85.00 90.88 06/30/99 C23410-IN 1992 INDIA WEST BENGAL FORESTRY 34.00 20.83 09/30/97 C23500-IN 1992 INDIA AIDS PREVENTION AND 84.00 68.76 09/30/97 C23650-IN 1992 INDIA NAT. HIGHWAYS II 153.00 148.61 06/30/01 C23940-IN 1992 INDIA POPULATION VIII 79.00 85.49 06/30/01 C24090-IN 1993 INDIA RUBBER 92.00 94.40 09/30/99 C24330-IN 1993 INDIA ADP - RAJASTHAN 106.00 87.89 09/30/99 C24390-IN 1993 INDIA BIHAR PLATEAU 117.00 115.00 06/30/98 C24490-IN 1993 INDIA RENEWABLE RESOURCES 115.00 123.64 12/31/99 C24500-IN 1993 INDIA JHARIA MINE FIRE CON 12.00 11.94 06/30/95 C24700-IN 1993 INDIA ICDS 11 (BIHAR & MP) 194.00 208.71 09/30/00 C24830-IN 1993 INDIA KARNATAKA WS & ENV/S 92.00 96.07 12/31/99 C25090-IN 1993 INDIA UTTAR PRADESH BASIC 165.00 160.09 09/30/00 C25100-IN 1993 INDIA UP SODIC LANDS RECLA 54.70 56.37 03/31/01 C25280-IN 1993 INDIA NATL LEPROSY ELIMINA 85.00 87,08 03/31/00 C25720-IN 1994 INDIA FORESTRY RESEARCH ED 47.00 46.52 12/31/99 C25730-IN 1994 INDIA ANDHRA PRADESH FORES 77.40 80.75 09/30/00 C25920-IN 1994 INDIA WATER RES CONSOLID H 258.00 276.22 12/31/00 C25940-IN 1994 INDIA MAHARASHTRA EARTHQUA 246.00 246.72 06/30/97  SCHEDULE D PAGE 2 OF 6 INDIA Status Of Bank Group Operations In INDIA PFDBR25 - Summary Statement Of Loans and IDA Credits (LOA data as of 3/31/95 - MIS data as of 04/25/95) By Country Country: INDIA Amount in USS million (Less cancellations) Loan or Fiscal Undis- CLosing Credit No. Year Borrower Purpose Bank IDA bursed Date C26110-IN 1994 INDIA BLINDNESS CONTROL 117.80 127.53 06/30/01 C26300-IN 1994 INDIA POPULATION IX 88.60 94.36 12/31/01 C26450-IN 1995 INDIA INDUS POLLUTION PREV 25.00 26.53 03/31/02 * C26610-IN 1995 INDIA DISTRICT PRIMARY ED 260.30 267.96 03/31/02 C26630-IN 1995 INDIA AP DISTRICT HEALTH S 133.00 139.60 03/31/02 * C26990-IN 1995 INDIA AGRIC HUMAN RES DEVT 59.50 63.01 12/31/00 * C27000-IN 1995 INDIA MP FORESTRY 58.00 61.30 12/31/99 TOTAL number Credits = 54 6,161.23 4,764.20 Loans 133 Loans(s) cLosed 10,878.90 L27690-IN 1987 INDIA BOMBAY III WATER SUP 20.00 20.00 06/30/95(R) L27960-IN 1987 INDIA COAL MINING AND COAL 322.78 16.22 09/30/95(R) L28440-IN 1987 INDIA NAT. CAPITAL POWER S 373.00 76.32 06/30/95 L28450-IN 1987 INDIA TALCHER THERMAL 367.00 130.15 03/31/96 L28460-IN 1987 INDIA MADRAS WATER SUPPLY 53.00 18.43 12/31/95 L28930-IN 1988 INDIA NATIONAL DAIRY 11 200.00 111.00 12/31/95(R) L29281-IN 1988 INDIA IND. FINANCE I 45.00 6.96 06/30/95(R) L29350-IN 1988 INDIA RAILWAYS MODERNIZ. I 252.50 4.19 12/31/95(R) L29940-IN 1989 INDIA STATE ROADS I 115.00 64.44 06/30/95 L30240-IN 1989 INDIA NATHPA JHAKRI HYDRO 485.00 356.64 12/31/97 L30440-IN 1989 INDIA PETRO. TRANSPORT 50.00 6.33 06/30/95 L30500-IN 1989 INDIA UPPER KRISHNA PHASE 45.00 45.00 12/31/96 L30580-IN 1989 INDIA EXPORT DEVELOPMENT 120.00 7.43 03/31/96 L30930-IN 1989 INDIA ELECTRONICS 8.00 7.24 12/31/95 L30960-IN 1989 INDIA MAHARASHTRA POWER 354.00 215.35 12/31/96 L31190-IN 1990 INDIA TECHNOLOGY DEVELOPME 135.00 46.60 12/31/95 L31960-IN 1990 INDIA CEMENT INDUSTRY REST 293.18 64.47 06/30/96 L32370-IN 1990 INDIA NOR REG TRANSM 485.00 426.89 09/30/98 L32390-IN 1990 INDIA PRIVATE POWER UTIL ( 98.00 19.13 06/30/95 L32580-IN 1991 INDIA PETROCHEMICALS 12.00 9.31 09/30/96 L32590-IN 1991 INDIA PETROCHEMICALS 202.70 108.32 09/30/96 L33000-IN 1991 INDIA AGR.DEV.I (TN) 20.00 20.00 09/30/98 L33250-IN 1991 INDIA DAM SAFETY 23.00 23.00 09/30/97 L33340-IN 1991 INDIA IND POLLUTION CONTRO 124.00 55.46 06/30/98 L33440-IN 1991 INDIA PRIVATE POWER UTIL I 200.00 42.41 12/31/96 L33640-IN 1991 INDIA GAS FLARING REDUCTIO 450.00 21.49 12/31/95 L34360-IN 1992 INDIA POWER UTIL EFFIC IMP 265.00 232.34 12/31/97 L34700-IN 1992 INDIA NAT. HIGHWAYS 11 153.00 153.00 06/30/01 L34980-IN 1992 INDIA MAHARASHTRA POWER 11 350.00 306.86 06/30/98 L35440-IN 1993 INDIA RENEWABLE RESOURCES 75.00 5.47 12/31/95 L35770-IN 1993 INDIA PGC POWER SYSTEM 350.00 312.08 06/30/00 L36300-IN 1993 INDIA PRIVATE POWER DEVT T 20.00 20.00 12/31/95 L36320-IN 1993 INDIA NTPC POWER GENERATIO 400.00 383.07 09/30/97 L37530-IN 1994 INDIA CONTAINER TRANSPORT 94.00 94.00 12/31/99 L37790-IN 1995 INDIA INDUS POLLUTION PREV 93.00 88.00 03/31/01 L37800-IN 1995 INDIA INDUS POLLUTION PREV 50.00 50.00 03/31/01 * L38560-IN 1995 INDIA FINANCIAL SECTOR DEV 350.00 281.64 10/31/00 * L38570-IN 1995 INDIA FINANCIAL SECTOR DEV 150.00 150.00 10/31/00  SCHEDULE D INDIA PAGE 3 OF 6 Status Of Bank Group Operations In INDIA PFDBR25 - Summary Statement Of Loans and IDA Credits (LOA data as of 3/31/95 - MIS data as of 04/25/95) By Country Country: INDIA Amount in US$ million (less canceLlations) Loan or Fiscal Undis- Closing Credit No. Year Borrower Purpose Bank IDA bursed Date * L38580-IN 1995 INDIA FINANCIAL SECTOR DEV 200.00 200.00 10/31/02 TOTAL number Loans = 39 7,403.16 4,199.24 TOTAL*** 18,282.06 20,805.02 of which repaid 5,256.88 1,333.81 TOTAL held by Bank & IDA 13,025.19 19,471.21 Amount sold 133.77 of which repaid 133.77 TOTAL undisbursed 9,014.60 Notes: * Not yet effective ** Not yet signed *** Total Approved, Repayments, and Outstanding balance represent both active and inactive Loans and Credits. CR) indicates formally revised Closing Date. *S) indicates SAL/SECAL Loans and Credits. The Net Approved and Bank Repayments are historicaL value, aLl others are market value. The Signing, Effective, and Closing dates are based upon the Loan Department offical data and are not taken from the Task Budget file.  Status Of Bank Group Operations In INDIA SCHEDULE D PFDBR25B - List of Closed SALs and SecaLs PAGE 4 OF 6 By Country Country: INDIA Amount in USS million (less cancelLations) Loan or Fiscal Undis- Closing Credit No. Year Borrower Purpose Bank IDA bursed Date C23160-lN 1992 INDIA SAL I 220.00 .00 12/31/1992 C23161-IN 1992 INDIA SAL I 30.00 .00 12/31/1992 C24480-IN 1993 INDIA SOCIAL SAFETY NETS 87.40 .00 08/31/1494(R) C24481-IN 1993 INDIA SOCIAL SAFETY NETS 89.40 .00 08/31/1994(R) C24482-IN 1993 INDIA SOCIAL SAFETY NETS 203.80 .00 12/31/1993 C24483-IN 1993 INDIA SOCIAL SAFETY NETS 119.40 .00 08/31/1994(R) L33910-IN 1992 INDIA OIL & GAS SECTOR DEV 150.00 .00 06/30/1992 L34210-IN 1992 INDIA SAL 1 250.00 .00 12/31/1992 L36270-IN 1993 INDIA EXTERNAL SECTOR ADJU 300.00 .00 12/31/1993 Total INDIA 700.00 750.00 .00  SCHEDULE D PAGE 5 OF 6 B. STATEMENT OF IFC INVESTMENTS (as of March 31, 1995) Amount (US$ million) Fiscal Year Company Loan Equity Total 1959 Republic Forge Company Ltd. 1.50 -- 1.50 1959 Kirloskar Oil Engines Ltd. 0.85 -- 0.85 1960 Assam Sillimanite Ltd. 1.36 -- 1.36 1961 K.S.B. Pumps Ltd. 0.21 -- 0.21 1963-66 Precision Bearings India Ltd. 0.65 0.36 1.03 1964 Fort Gloster Industries Ltd. 0.81 0.40 1.21 1964 Lakshmi Machine Works Ltd. 0.96 0.35 1.31 1964-75-79/90 Mahindra Ugine Steel Co. Ltd. 11.81 2.66 14.47 1967 Indian Explosives Ltd. 8.60 2.86 11.46 1967 Jayshree Chemicals Ltd. 1.05 0.10 1.15 1969-70 Zuari Agro-Chemicals Ltd. 15.15 3.76 18.91 1977-87 Escorts Limited 15.55 -- 15.55 1978-87/91/93 Housing Development Finance Corp. 106.32 4.05 110.37 1980/82/87/89 Deepak Fertilizer and Petrochemicals Corporation Ltd. 7.50 4.23 11.73 1981-82 Nagarjuna Coated Tubes Ltd. 1.50 0.24 1.74 1981-82 Nagarjuna Steels Limited 2.88 0.24 3.12 1981-86-89-92-94 Tata Iron and Steel Company Ltd. 132.14 24.49 156.63 1981-90-93-94 Mahindra & Mahindra Ltd. 29.71 9.68 39.39 1982 Ashok Leyland Limited 28.00 -- 28.00 1982 Coromandel Fertilizers Limited 15.88 -- 15.88 1982 The Bombay Dyeing and Manufacturing Co. Ltd. 18.80 -- 18.80 1982-87 ITW Signode 2.99 1.01 4.00 1982-87 The Indian Rayon Corp. Ltd. 14.57 -- 14.57 1983 Bharat Forge Company Ltd. 15.90 -- 15.90 1984-86 The Gwalior Rayon Silk Manufacturing (Weaving) Co. Ltd. 15.95 -- 15.95 1985 Bajaj Auto Ltd. 23.93 -- 23.93 1985 Modi Cement 13.05 -- 13.05 1985-86/90-91-94 India Lease Development Ltd. 8.50 1.08 9.58 1985/91 Bihar Sponge 15.24 0.68 15.92 1986 Bajaj Tempo Limited 30.54 -- 30.54 1986-93/94 India Equipment Leasing Ltd. 5.50 0.44 5.94 1986 Larsen and Toubro Ltd. 21.78 -- 21.78 1986-87-88-92-93 The Great Eastern Shipping Company Ltd. 41.25 13.89 55.14 1986-87-91/95 Export-Import Bank of India 39.34 -- 39.34 1987 Gujarat Fusion Glass Ltd. 7.52 1.70 9.22 1987 Gujarat Narmada Valley Fertilizer 38.07 -- 38.07 1987 Hero Honda Motors Ltd. 7.74 -- 7.74 1987 Hindustan Motors Ltd. 39.14 -- 39.14 1987 The Gujarat Rural Housing Finance Corp. -- 0.19 0.19 1987 Wimco Limited 4.70 -- 4.70 1987/89-90/92/93 Titan Watches Limited 22.02 1.15 23.17 1988/94 Invel Transmissions Ltd. -- 1.40 1.40 1989 Ahmedabad Electricity Company, Ltd. 20.83 -- 20.83 1989 WTI Advanced Technology -- 0.20 0.20 1989-90 Keltron Telephone Instruments, Ltd -- 0.56 0.56 1989-92 Gujarat State Fertilizer 40.46 -- 40.46 1989-95 JSB India Securities Firms 2.35 0.37 2.72 1990 UCAL Fuel Systems Ltd. -- 0.63 0.63 1990-91/94 Tata Electric 111.88 18.75 130.63 1991 ATIC Industries Export Finance 0.28 -- 0.28 1991 Bombay Electric 68. 0 - - 68.00 1991 CESC Ltd. 85.03 -- 85.03 1991 Export Finance - AFDC 0.35 -- 0.35 1991 Herdilla Oxides and Electronics Ltd -- 0.29 0.29 1991-94 Indust. Credit & Investment Corp. of India -- 25.85 25.85 1991-93-95 Infrastructure Leasing & Financial Services 40.00 4.92 44.92 1991 TDICI Development Finance Companies -- 2.05 2.05 1993 TRIVENI -- 1.30 1.30 1991 Varun Transport, Storage & Communications 1.7.04 3.06 20.10 1992 Arvind Mills 22.13 19.16 41.29  SCHEDULE D PAGE 6 OF 6 Amount (US$ million) Fiscal Year Company Loan Equity Total 1991 INDUS VC MGMT -- 0.01 0.01 1991 Block KG-OS-IV -- 8.20 8.20 1991 INDUS VCF -- 1.01 1.01 1992 Kotak Mahindra 0.66 -- 0.66 1992 Nippon Denro 40.00 5.77 45.77 1992 SKF Bearings 11.50 -- 11.50 1992-94 Creditcapital VF -- 1.11 1.11 1993 NICCO-UCO 3.00 0.25 3.25 1993 20th CENTURY 16.00 0.80 16.80 1993 Info Tech Fund -- 0.64 0.64 1993 CRDCAP Asset Management -- 0.32 0.32 1993 Taurus Starshare -- 7.17 7.17 1994 Gujarat Ambuja 35.14 8.23 43.37 1993-94 Indo Rama Spinning & Weaving 35.00 9.B4 44.84 1994 Centurion Growth -- 2.39 2.39 1994 TCAMC -- 0.16 0.16 1994 DLF Cement 39.36 -- 39.36 1994 Global Trust Commercial Banks -- 3.19 3.19 1994 Chowgule -- 4.58 4.58 1994 Centurion Bank -- 3.87 3.87 1994 GESCO Transport & Communications -- 2.15 2.15 1994 ISIC Brokerage -- 0.32 0.32 1994-95 Prism Cement 30.00 5.02 35.02 TOTAL GROSS COMMITMENTS 1388.01 217.15 1605.16 Less: Cancellation, Terminations, Exchange Adjustments, Repayments, Writeoffs and Sales 753.07 85.34 838.41 Total Commitments Now Held by IFC 634.85 131.81 766.66 Undisbursed 94.99 0.51 95.50 Total Outstanding 539.88 131 .30 671. 18 Source: IFC Statement of Investments as of March 31, 1995.  IBRD 26167 77