Announcement of China Zhejiang Provincial Highway Project on May 21, 1992

FOR IMMEDIATE RELEASE 4World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 92/79 Contact: Pastor Sison Tel: (202) 458-0344 CHINA: ZHEJIANG PROVINCIAL HIGHWAY PROJECT The following is additional information about a project announced in the latest issue of World Bank News. DATE: May 21, 1992 WORLD BANK GROUP SUPPORT: World Bank loan: $220 million. The World Bank loan is for 20 years, including five years of grace, with a variable interest rate, currently 7.73 percent, linked to the cost of the Bank's borrowings. It also carries an annual commitment charge of 0.25 percent on the undisbursed balance. TOTAL COST: $558.8 million OTHER FINANCING: Provincial government, $257.6 million; Central Government of China, $81.2 million IMPLEMENTING AGENCY: Zhejiang Provincial Expressway Project Executive Commission ESTIMATED COMPLETION DATE: 1998 PROJECT DESCRIPTION: The objectives of the Zhejiang Provincial Highway Project are to: (a) relieve congestion in the Hangzhou-Ningbo corridor by providing a fast and reliable highway for long distance traffic serving industries located in the Hangzhou-Ningbo corridor and the Ningbo Port area; (b) promote economic develop- ment, particularly in the southern region of the province by providing access to roads and improve provincial and county roads; (c) further develop institutional capabilities for transport planning and investment prioritization; and (d) promote the transfer of highway construction and maintenance technology through provision of training and equipment. The project includes: (a) construction of a 138- kilometer section of the Hangzhou-Ningbo, four-lane, divided, access-controlled highway, including service facilities, as well as the supply and installation of electrical, electronic, and mechanical equipment for tolling, traffic monitoring, telecommunication, and lighting; (b) construction and improvement of about 33 road sections (970 kilometers) of the provincial/county road network and five bridges (2,000 meters) located primarily in the southern region of the province; (c) construction supervision of the Hangzhou-Ningbo Highway and the provincial/county road construction and improvement component; (d) equipment for: a central environ- mental protection and research laboratory for the Hangzhou-Ningbo highway; operation and maintenance of the Hangzhou-Ningbo highway; provincial/county road laboratories and survey units and the development and application of the Road Data Bank and Pavement Management System; and maintenance of the provincial/county road networks; and (e) staff training programs covering a broad spectrum of highway planning, design, construction, and maintenance. FOR IMMEDIATE RELEASE (World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. *Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 92/LAC Contact: Ciro Gamarra (202) 473-8721 WORLD BANK LENDS CHILE S95 MILLION TO IMPROVE SMALL FARMER SERVICES WASHINGTON, D.C., May 21, 1992 -- The World Bank has approved a $95 million loan to Chile to help improve small farmer services. The project will benefit about 84,000 small farm families, increasing their productivity and incomes and improving their well-being. The $236 million project will also enhance the institutional capacity and effectiveness of the Agricultural Development Institute (INDAP) and of the Ministry of National Property (MBN). INDAP is the agency of the Ministry of Agriculture which provides technical assistance and credit to small farmers. The project will also foster small-farmer access to commercial markets for their products and factors of production, and to publicly-sponsored agricultural development programs. The small farmer services project will provide technology transfer, complementary credit for working capital and investment, land titling, a rural communication system, and institutional strengthening. The project will have a major impact on the quality of life, income and legal security of a significant proportion of the low income, small farmer rural population of Chile. At full development, the technology transfer program will benefit about 84,000 small farm families and the credit program potentially up to 100,000 families. The project will target rural women in these farm families with specifications designed to develop their income-earning potential. The land titling component will benefit about 43,500 farm families, thereby providing security of land holding and access to a range of public services and agricultural credit. The balance of project costs will be financed by the government of Chile ($90 million), INDAP ($14.1 million), and the beneficiaries and intermediaries ($36.9 million). The World Bank loan will be disbursed over seven years. The World Bank loan to the Republic of Chile is to be repaid over a period of 17 years, including five years of grace, with a variable interest rate, currently 7.73 percent, linked to the cost of the Bank's borrowings. It also carries an annual commitment charge of 0.25 percent on the undisbursed balance. NOTE: Money figures are expressed in U.S. dollar equivalents.