China - University Development Project

Document of The World Bank FOR OFFICIAL USE ONLY FILE COPY Report No. P-3086-CHA REPORT AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT AND THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN AND CREDIT TO THE PEOPLE'S REPUBLIC OF CHINA FOR A UNIVERSITY DEVELOPMENT PROJECT June 1, 1981 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 autborization.  CURRENCY EQUIVALENTS Currency Unit - Yuan (Y) $1.00 = Y 1.53 Y 1.00 = $0.65 ACADEMIC YEAR September 1 - August 31 FISCAL YEAR January 1 - December 31  FOR OFFICIAL USE ONLY CHINA UNIVERSITY DEVELOPMENT PROJECT Project Summary Borrower: The People's Republic of China Amount of IBRD Loan: $100 million Terms: 20 years, including 5 years of grace, with interest at 9.6% per annum. Amount of IDA Credit: $100 million (SDR 81.4 million) Terms: Standard Project Description: The project would assist the Borrower to strengthen higher education and research in the fields of science and engineering. The project would provide civil works, furniture, equipment, specialist services, fel- lowships, and other related inputs to: (a) increase the number of graduates and the volume of research work at 26 leading universities; (b) raise the quality of graduates and research work at these universities; and (c) strengthen management at universities and the Ministry of Education. Since this would be China's first operation with the World Bank Group, delays in implementation might result from the Borrower-s inexperience with Bank procedures. To help reduce this risk, the Bank and UNDP have assisted the Borrower in preparing specifications and tender documents. Furthermore, the project would strengthen the capacity of universities and the Ministry of Education to implement and manage future development projects. 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 IFC authorization.  - ii - Estimated Cost: Local Foreign Total