Mexico - Medium Size Cities Urban Transport Project

Document of The World Bank FOR OMFCLAL USE ONLY RqetNo. P-5861-ME MFMORANDUI( AND RECONNENDIION OF THE PRESIDENT OF THE Il lNATIONAL BANK FOR RECONSTRUCTILON AND DEVELOPMENT ON A PROPOSED LOAN IN AN AMUNT EQUIVALENT TO US$200 MILLIONE TO BACO MACIONAL DE OBRAS Y SERVICIOS PUBLICOS, S.N.C., a WITH THE GUARANREE OF THE UNITED MEICAN STATES >Ul FOR A MEDIUM-SIZE CITIES URBAN TRANSPORT PROJECT JANUR 15, 1993 . fi~~ ; - - C - 0 This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization.  CURRENCY EOUInL&= (as of November 30, 1992) Currency Unit - Pesos (Nex$) US$1.00 - Mex$3,115 The Mexican peso is currently being devalued at a rate of Mex$ 0.40 per day relative to the US dollar. FISCAL YEAR January 1 - December 31 ABBREVIATIONS AND ACRONYMS BANOBRAS Banco Nacional de Obras y Servicios Pfiblicos S.N.C. National Development Bank for Public Works and Services CETES Treasury Bill ERR Economic Rate of Return GON Government of Mexico ITP Integral Transport Plan NTP National Training Program PVT Programa de Vialidad y Transporte en Ciudades Medias (National Urban Highway and Transport Program in Medium Size Cities) SEDES0L Secretaria de Desarrollo Social (Ministry of Social Development) SEDUE Secretarla de Desarrollo Urbano y Ecologia (Ministry of Urban and Ecological Development)  FOR OMCIL USE ONLY MEDIUM-SIZE CITIES URBAN TRANSPORT PROJECT LOAN AND PROJECT SUMMARY Borrowers Banco Nacional de Obras y Servicios P6iblicos S.N.C (BANOBRAS). GuarAntor: United Mexican States. Executina Aaencie BANOBRAS, Secretaria de Desarrollo Social (SEDESOL) and Beneficiaries: and state and municipal urban transport agencies. Amount: US$200 million equivalent. Termat 15 years, in-luding 5 years of grace, at the Bank's standard variable interest rate. On-lendinga terms: BANOBRAS will on-lend loan proceeds in peso denominated sub-loans to states or municipalities with repayment in up to 15 years including a grace period of up to 3 years, at a rate at least equal to the CETES (Treasury Bill) rate plus 2%. Financina Plan: Local Foreign Total