Colombia - Second Rural Roads Sector Project

Document of The World Bank FOR OFFICIAL USE ONLY L.N-i 57- C Repott ?io. P-5104-CO MEKORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$ 55 MILLION TO THE FONDO NACIONAL DE CAMINOS VECINALES WITH THE GUARANTEE OF THE REPUBLIC OF COLOMBIA FOR A SECOND RURAL ROADS SECTOR PROJECT December 30, 1989 This documnt ha a resicted distribution and may be _ed by rcipints only tn th perfomnce of their oficlk duts. Its coutenU may not otherwis be d isclsd witou World Sk suatorlutn.  CURRENCY EQUIVALENTS Currency - Peso (ColS) US$1 - ColS 378 (End of June 1989) Col$ 1 million - US$ 2,645 WEIGHTS AND MEASURES Metric System ABBREVIATIONS DNP National Planning Department ERR Economic Rate of Return FNCV National Agency for Feeder Roads (Fondo Nacional de Caminos Vecinales) FY Fiscal Year LCB Local Competitive Bidding K4OPT Ministry of Public Works and Transport PCR Project Completion Report FISCAL YEAR January 1 - December 31  FOR OFFAL USE ONLI COLOMBIA SECOND RURAL ROADS SECTOR PROJECT Loan and Proiect Sumary Borrowers Fondo Nacional de Caminos Vecinales (FNCV) Guarantors The Republic of Colombia Beneficiary: FNCV Amount: US$55.0 million equivalent Terms: Repayment in 17 years, including a five- year grace period, at the Bank's standard variable intsrest rate Financing Plan: Government US$ 90.2 million External (existing) US$ 11.9 million IBRD (proposed) US$ 55.0 million TOTAL US$157.1 million Economic Rate of Returns A minimum of 122 is required for the road investment and maintenance components (98? of total project costs). The ERR for civil works included in the first year of the project (1990) is 20X. Staff Appraisal Report: No. 7985-CO IBRD 21700 This document has a resictdo distributbn and may be used by recipients only in the p'