Bolivia - Third Railway Project

Dosunwt of The World B2nk FOR OFFICIAL USE ONLY Report No. 6109 PROJECT COMPLETION REPORT BOLIVIA THIRD RAILWAY PROJECT (LOAN 1422-BO) March 24, 1986 Latin America and the Caribbean Regional Office Transport Division 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.  Ka3 oFfiCIA USE ONLY TO* WOR'LO SANK Waswlton. D.C. 20433 USA. March 24, 1986 MEMORANDUM TO THE EXECUTIVE DIRECTORS AND THE PRESIDENT SUBJECT: Project Completion Report on Bolivia Third Railway Project (Loan 1422-BO) Attached, for informat-on, is a copy of a report entitled "Project Completion Report on Bolivia Third Railway Project (Loan 1442-BO)" prepared by the Latin America and the Caribbean Regional Office. Under the modified system for project performance auditing, further evaluation of this project by the Operations Evaluation Department has not been made. Attachment Thi dcument hass ansucted dibution and may be uad by rpiats aoi thei pmomance of their offici dutie Its contents may o oherwise be discled witbout Word Sank autbouiution.  FOR OFFIAL USE ONLY BOLIVIA THIRD RAILWAY PROJECT (LOAN 1422-BO) PROJECT COMPLETION REPORT TABLE OF CONTENTS Page No. BASIC DATA SEEET ii MISSION DATAAT.A.{...i.. .................i HIGHLIGHTS. ... o..ot......... #*# iv I. INTRODUCT ION...... . l. rI. PROJECT PKEPARATION, APPRAISAL AND NEGOTIATIOS I.......... 2. 111. PROJECT IMPLEMENTATION AND COSTS.* .......... ............. 5. IV. TRAFFIC AND OPERATIONS,.R,T.,O.*.c.** e....***..&ss...* 10. V. FINANCIAL PERFORMANCE .....13. VI. INSTITUTIONAL PERFORMANCE AND DEVELOPMENT..*.......... 15. VII. ECONOMIC REEVALUATION.. ,............ ... , 16. VIII. THE ROLE OF THE BANK.................... o..*.. ......... 18. IX. CONCLUSIONS....o...... 20. TABLES 1. Execution of the Track Rehabilitation Program 22. 2. Comparison Between Appraisal Estimate and Actual Project Costso........... 23. 3. Comparison Between Appraisal Projected and Actual Freight Traffic...rc 24. 4. Appraisal Projected and Actual Passenger TrAffic. 25. 5. Income Statement-Appraisal Projected and Actual (1977-1983) ...................................26. 6. Sources and Uses of Funds ...................................... 27. 7. Ecoaomic Evaluation - Freight Services Western System.tem..o 28. 8. Economic Evaluation - Freight Services Eastern System.......... 29. 9. Economic Evaluation - Passenger Services Western System.*...... 30. 10. Economic Evaluation - Passenger Services Eastern System..em.. 31. ANNEXES 1. Project Descriptson 32. 2. Action Program...*. ..........,....* .... .. 34. 3. Financial Covenants .................... 35. 4. Borrower Coments . . .37. MAP IBRD 18044(PCR) This document ha a festricted distribution and may be used by recipients only in the performance of their ofcil duties. Its contents may not otherwise be disclosed without World Bank authorization.  BOLIVIA THIRD RAILWAY PROJECT (LOAN 1422-B0) PROJECT COMPLETION REPORT PREFACE The following Is a Project Completion Report on Bolivia's Third Railway Project, for which a loan in the amount of US$35.0 million waa approved by the Executive Directors on May 12, 1977. Loan funds are fully committed and US$0.4 million remaining in the loan account are expected to be disbursed shortly. The Completion Report was prepared by the Bank's Latin America and Caribbean Regional Office and is based upon information obtained from the Minutes of the Board oL Directors meeting, LAC Information Center, staff project appraisal and supervision reports, consultants' reports and a final report prepared by the Bolivian National Railways (BNFE). In accordance with the revised project performance reporting procedures this report has been read in the Operations Evaluation Department COED) but the project was not audited by OED staff. The draft Complotion Report was sent to the Borrower for comments. Their reply is shown as Annex 4 to the PCR.  - ii - BOLIVIA THIRD RAILWAY PROJECT (LOAN 1422-BO) PROJECT COMPLETION REPORT BASIC DATA SHEET My_ Project Data Item Original Plan Actual Total Project Cost (US$ million) 55.7 59.5 Loan Amount (US$ million) 35.0 35.0 Disbursement (05/21/85) 35.0 34.6 Estimated Rate of Return (Z) 20.0 21.0 Date Physical Component Completed 12/78 11/83 Financial Performance Fair Institutional Performance Good Other Project Data Original Plan Actual First Mentioned in Files - 01/29/75 Appraisal - 11/10/76 Negotiations 03/28#77 04/07-08/77 Board Approval 04/26/77 05/12/77 Loan Agreement Date - 06/07/77 Date of Effectiveness 09/06/77 09/29/77 Closing Date 12/31/81 12/31/84 Borrower ENFE (Bolivian National Railways) Executing Agencies ENFE and Ministry of Transport Communication and Civil Aviation 1/ Fiscal Year of the Borrower 01/01-12/31 Follow-on Projects: None 1/ For the updating of the National Transport Survey and the Highway Maintenance component of the project.  -iii - BOLIVIA THIRD RAILWAY PROJECT (LOAN 1422-BO) PROJECT COMPLETION REPORT MISSION DATA Staff Date of Date Staff Weeks Weeks Report Preparation 05/76 7 2 14 12/10/76 Preappraisal 09/76 3 1 3 N/A Appraisal 11/7b 5 2 10 04/29/77 Limited Supervision 08/77 4 2 8 08/15/77 Limited Supervision 11/77 1 1 1 01/13/78 Supervision 02/78 2 1.5 3 02/28/78 Limited Supervision 04/78 2 1 2 03/25/78 Limited Supervision 06/78 2 1 2 07/25/78 LJmited Supervision 08/78 1 1 1 09/14/78 Limited Supervision 08/78 1 1 1 10/02/78 Limited Supervision 11/78 1 1 1 01/19/79 Supervision 02/79 2 1.5 3 02/26/79 Limited Supervision 03/79 1 1 1 03/16/79 Limited Supervision 03/79 1 1.5 3 05/10/79 Limited Supervision 07/79 1 1 1 10/09/79 Supervision 09/79 2 1 2 10/28/79 Supervision 02/80 4 1 4 02/29/80 Limited Supervision 04/80 1 0.5 0.5 05/15/80 Limited Supervision 06/80 1 0.5 0.5 07/15/80 L