Sierra Leone - Education Project

RESTRICTED FILE COPY Report No. P-761 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 The report may not be published nor may it be quoted as representing their views.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 DEVELOPMENT ASSOCIATION REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO THE GOVERNMENT OF SIERRA LEONE FOR AN EDUCATION PROJECT December 9, 1969  4 a I I r~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  INTERNATIONAL DEVELOPMENT ASSOCIATION REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO THE GOVERNMENT OF SIERRA LEONE FOR AN EDUCATION PROJECT 1. I submit the following report and recommendation on a pro- posed development credit in an amount in various currencies equivalent to US$ 3 million to Sierra Leone to assist in financing an education project. PART I - HISTORICAL 2. The proposed project was identified by a UNESCO mission in 1964. After a number of reviews it was submitted for Bank Group con- sideration in a revised form by the Ministry of Education in May 1968. It was preappraised in September 1968 and final appraisal took place in July 1969. 3. Negotiations were held in Washington in October 1969. The Sierra Leone negotiating team included representatives of the Ministries of Education, Public Works and Finance and was led by Dr. M. S. Forna, Minister of Finance. 4. The following is a statement of Bank loans to Sierra Leone as of November 30, 1969: Loan No. Year Borrower Purpose Amount(US$ Million) Undisbursed 388-SL 1964 Sierra Leone Power 3.8 _ Electricity Corporation 553-SL 1968 Sierra Leone Power 3.9 3.8 Electricity Corporation Total 7.7 of which has been repaid to Bank and others O Total now outstanding 7.3 Amount sold: .5 of which has been repaid .2 .3 Total now held by Bank 7.0 Total undisbursed 3.8  5. The King Tom Power project, financed by Loan No. 388-SL, was completed in 1967. The power project financed by Loan No. 553-SL is under construction and progressing satisfactorily. 6. The proposed credit would be the first IDA operation in Sierra Leone. Appraisal of a highway project is scheduled in early 1970; an agriculture development project is at an advanced stage of preparation. PART II - DESCRIPTION OF THE PROPOSED CREDIT 7. BORROWER: Sierra Leone AMOUNT: US$ 3 million PURPOSE: To assist in financing (a) extensions to eleven secondary schools, two technical schools, and two trade schools, (b) rebuilding of a primary teacher's training college and (c) employment of consultant architects, and other specialist advisers. AMORTIZATION: In 50 years, including a 10-year period of grace, through semi-annual installments of