Argentina - Balcarce Livestock Development Project

| RETURN To ERESTRICTED REPORTS DESK j; g'flpy Report No. TO-540a WITHIN FILE [1 ONE WEEK This report was prepared for use within the Bank and its affiliated organizations. They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION "BALCARCE" LIVESTOCK DEVELOPMENT PROJECT ARGENTINA June 28, 1967 Projects Department  CURRENCY EQUIVALENTS February 1966 1 US dollar = 190 Arg. pesos* 1 Arg. peso = 0. 00526 US dollars 1, 000, 000 Arg. pesos = 5, 263 US dollars May 1967 1 US dollar = 350'Arg-.- pesos: 1 Arg. peso = 0.0029 US dollars 1, 000, 000 Arg. pesos = 2, 857 US dollars ' This Project was appraised in January/February 1966. All estimates and projections in this report are in terms of Jan/Feb 1966 prices. At that time the official exchange-rate was US$ 1.00 M$N 190. Since then the Argentinian peso has been devalued, in successive stages, to the present exchange rate of US$ 1. 00 = M$N 350.  A R G E N T I N A "BALCARCE" LIVESTOCK DEVELOPMENT PROJECT TABLE OF CONTENTS Page No. SUMrARY i I. INTRODUCTION 1 II. BACKGROUND 1 A. Importance of Livestock and Cattle in the Economy 1 B. Past Development 2 C. Government Policies and Programs 2 D. Production and MIlarket Prospects 3 TII. PROJECT BACKGROUND 5 A. Agricultural Credit and Price Policy 5 B. Credit Services 5 C. Technical Services 6 D. Animal Health 6 E. The Project Area 7 IV. THE PROJECT 8 A. Objectives 8 B. Detailed Features 8 C. Cost Estimates 11 D. Proposed Financing 12 E. Operating Results of the Project 15 F. Procurement 16 G. Marketing 16 H. Disbursement 17 V. ORGANIZATION AND MANAGEMENT 17 VI. ECONOMIC BENEFITS AND JUSTIFICATION 18 VII. CONCLUSIONS AND RECOMMENDATIONS 19 (See next page) This appraisal report is based on the findings of a mission which visited Argentina in January/February 1966. The mission was composed of Messrs. D. Stoops, H. von Oppenfeld, S. Asanuma (Bank) and C. Eugenio, J. Fransen, R. Rossi (Consultants).  -2- ANNEXES 1. The Banking System Table 1 - Banco de la Nacion: Credit Policies Regarding Certain Loans to Agriculture and Livestock Table 2 - Banco de la Nacion: Statement of Resources and Liabilities Table 3 - Banco de la Nacion: Statement of Income and Expenses 2. Project Area T7a7be -i Principal Physical Characteristics of Land 3. Ranch Investment Costs Tabes 1 and 2 - RaTih Investment Costs: Complete and Partial Ranch Development 4. Technical Services