Document of

The World Bank

]FOR OFFCIAL USE ONLY

6-/s 2Z07-_Rep6it No. P-5396-BD

4 ~ ~ ~ ~ ~ ~~NMEORANDUM AND RECOMfMEATION

OF THlE

PRESIDENT OF THlE

INTERNATION~AL DEVELOPMEN -ASSOCI~ATION

TO THE,

EXECUTIVE DIRECTOR"

PROPOSEM CREDIT,

OF SDR 52.2 MIILLION

* ~~~~~~~PEOPLE' S REPUBLIC F WMG1LADKSH

FOA

SUBLWOL TP1I ANk &VPTflhI

4 '. .. ~~~~MAY 7, 1991

Tksdocumsent bus a iestricted distribv~Jo 'and may piuedb edlent only in the prormance oitt herfofficWd dudis. ltb contents maty not okhprw1se: Ike -dlckise4 fvtk.u World Rai4k authp4zxation.

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

Pub

lic D

iscl

osur

e A

utho

rized

SU%RENCY EOUIVALEfiTS.(as of July 1990)

Currency unit Taka (Tk)

Tkl.00 ' w US$0.0287US$1.00 - Tk 34.9,(Official Rate)

Tk 35.6 (Free Market Wage

Earner's Rate)

WEIGHTS AND MEASURES'

1 hectare (ha) _ 2.47 acres (ac) .

1 wetric ..ton (ton) 2,204.6 pounds (1bs)p

~~~ABHBEVIhll.ONS-ANiD ACRQNYMS .

ADSB - - Asian flevelopment BankARCP - Agricultural and,Rural Credit ProjeetASSP? - Agricultural Support Services Project .ADc - gdeah Agricultuzral Development Corporation

\ : .X.Ba -. la'- - Bain*.

DTW.-' ^'-' D-Peep Tubewelt

ERR - Economic Rate' of Return'' FOB. . -', Free. on Boar'R - Finautial Pate of Return:. GOB. '- -. , Gov6rnment, f BangladeshHYV - High-Yielding Vatieties. -

ICB .n - Tternatfifnal Competitive Biddig .'.

, IA - International Develo.pment AgencyLLP Low Lift -uip-

M. 'NEU' '',.- M(onitor,ing and Evaluation UnitMOA - Ministry of, 'gricu1ture '' .

MP . .- ,-i. ..Nuriate of PotashNMIDP - National Minor''rrigation Developuient ProjectSAFE - Special Account, n Foreign Exch&ng.SOE - Statements of Ex nditure$T 6 Shallow Tubewl...,'SP 'Tr Jle Suptrphosphate,

-.I Jtie 30 - f

FOR OFFICIAL USI ONLY

SHALLOW TUBEWELL AND TOW LIFT PUMP IRR!GATION gLRDJCT

Credit and Project Summarv

Bgrrower: People's Republic of Bangladesh

Amount: SDR 52.2 million (US$75.0 million equivalent)

Terms: Standard, with 40 years' maturity

Finanmcng Pla: Government US$ 0.1 millionFarmers 51.6 millionIDA _7.Z.0 millionTotal USS126.7 million

Economic Rateof Return: over 501

Staff AnDraisalBEIQrt: Report No. 9003-BD

IBRD 22593

Thk documentha a "#"*"ed diibution 8nd am be undby dphntsonly Idiehopednufo |of dWroffcdWdutie. Itsctntsn waynot odmwkn ebdick6edwkhout WordEBank audw*hok

, . , . ..... ... .. . .. ........ ....I.I....I ,.,,"

MEMORANDUM AND RECOMMENDATION OF THE PRESIDENTOF THE INTERNATIONAL DEVELOPMENT ASSOCIATION

TO THE EXECUTIVE DIRECTORSON A PROPOSED CREDIT TO

THE PEOPLE'S REPUBLIC OF BANGLADESHFOR A SHALLOW TUBEWELL AND LOW LIFT PUMP IRRIGATIONI PR CT

1. The following memorandum and recommendation on a proposeddevelopment credit to Bangladesh for SDR 52.2 million (US$75.0 millionequivalent) is submitted for approval. The proposed credit would be onstandard IDA terms with 40 years' maturity, to help finance a Shallow Tubevell(STW) and Low Lift Pump (LLP) Irrigation Project.

2. Sector Background. Agriculture in Bangladesh accounts for 50X ofGDP, employs 75X of the labor force and generates 60% of the country's exportearnings. For almost three decades, the main source of growth in theagricultural sector has been expansion of the area under irrigation, which hasled farmers to begin using modern agricultural tecbniques and inputs such asfertilizers and seeds of high-yielding varieties (HYV) of crops, especiallypaddy. More recently, to meet the more demanding cropping schedulesassociated with the use of improved inputs under irrigation, farmers have beeninvesting in power tillers, especially in view of the shortage of draftanimals caused by the scarcity of land required to raise feed and fodder.With sufficient investment in irrigation, the growth of foodgrain production,consisting mainly of rice, could reach 4X-5Z per annum, compared to 2.6X inFY81-90.

3. Substantial sector work undertaken by IDA over the past two yearsin close collaboration with the Government of Bangladesh (GOB) and otherdonors, and discussed at the 1989 Donors Meeting on Agriculture, chaired byIDA, has helped clarify that the chief constraints to accelerated minorirrigation development are: (a) barriers to private sector distribution ofminor irrigation equipment in the form of: (i) high customs duties andGovernment standardization requirements on imported equipment and powertillers; (ii) siting regulations for equipment; and (iii) high public sectorstocks of equipment which have deterred the private sector from entering thebusiness; (b) the absence of a well-functioning credit system; (c) limitedaccess by the private sector to predominantly imported triple superphosphate(TSP) and muriate of potash (MP) fertilizers and HYV seeds, which hasconstrained farmer access to these critical inputs; and (d) excessive relianceon public sector imports of foodgrains, which have resulted in downwardpressure on producer prices for the main outputs of irrigated agriculture,rice and wheat.

4. Influenced by the findings of IDA sector work, GOB has embarked ona long overdue program of liberalization, deregulation and privatizationdesigned to unleash the energies of the private sector in minor irrigationdevelopment. As a first step under this strategy, GOB suspended customsduties and standardization requirements on small imported engines suitable forthe operation of STW and LLP, as well as regulations governing their siting.As a result, investment by farmers in both STW and LLP grew by 221 in 1989.Tentative figures for 1990 indicate a further increase of 211 for STW and 18Xfor ILP. Customs duties and standardization requirements for power tillers

2

were also suspended, after which investments rose by 400X. GOB is now eagerto consolidate the reforms undertaken and to complete the transition to thenew, more liberalized/deregulated regime. However, it is concerned that it isunable to finance the foreign exchange cost of the increased privateinvestments in minor irrigation equipment and power tillers resulting from thereforms. Investment in this type of equipment Is not directly supported byany donor assistance program, since it is financed largely from farmers,savings and/or non-institutional credit, the latter of which has traditionallyprovided 901 of credit requirements. Assistance is now required so that theprivate sector can meet the increased demand for STW, LLP and power tillers,sales of which are presently handled by about 315 private equipment dealerslocated mainly in Dhaka and Chittagong, as well as other cities and townsthroughout the country.

5. Experience gained during the implementation of previous minorirrigation projects and the IDA supported Import Program Credits hashighlighted the need for the liberalization of input suiqly and subsidyremoval to encourage more efficient private sector involvement, particularlyin the supply of irrigation equipment and fertilizer. On the basis of thisexperience, GOB, in close cooperation with IDA and the Asian Development Bank(ADB), has developed over the past year a list of investments and inputrequirements linked to an Action Program for Policy and Institutional Reformsfor minor irrigation development covering minor irrigation equipment and powertillers, complementary inputs, foodgrain management and institutional reform.ADB is supporting this package with a quick-disbursing Foodcrops DevelopmentProgram Loan financing a broad positive list of agricultural equipment andinputs. IDA plans to support the program through four complementary projects:(a) the proposed project which will finance simple, low-cost investments byfarmers in STW, LLP and power tillers, sold *off the shelf" for cash byprivate dealers without any public sector involvement in theirinstallation/delivery or operation; (b) the proposed National Minor IrrigationDevelopment Project (NMIDP), which will finance mainly the more expensive andcomplex deep tubewells (DTW) which require organization of farmer groups,technical assistance and public sector support in the initial stages; (c) theproposed Agricultural and Rural Credit Project (ARCP), which will focus onimproving the performance of agricultural credit institutions, but which willonly finance about 10 of the institutional credit required for a wide rangeof agricultural investments, including minor irrigation equipment and powertillers; and (d) the recently approved Agricultural Support Services Project(ASSP), which will finance, inter alia, the extension activities of theMinistry of Agriculture (MOA) to improve water management, seed supply andcrop diversification.

6. Rationale for IDA Involvement. As noted above, IDA has workedclosely with GOB to formulate and introduce policy measures aimed atliberalizing the trade and siting of minor irrigation equipment as a means ofaccelerating growth in the agricultural sector. The experience IDA hasacquired in the context of this policy dialogue and through past projects insupport of minor irrigation gives it a comparative advantage among donors inproviding effective support to GOB in implementing this project. IDA'sfinancing of this project will also support deepening of the liberalizationprocess in the areas of fertilizer and foodgrain marketing, which are

3

important components of the sector reform strategy pursued by IDA In itspolicy dialogue with GOB since the early 1980s. Furthermore, the proposedproject will provide an opportunity for IDA to make a contribution in an areaof special emphasis: private sector development.

7. Prolect Objectives. The project is intended to promoteagricultural production, income and employment by supporting increasedinvestment by farmers in simple, low-cost minor irrigation equipment sold byprivate equipment dealers for cash under GOB's liberalized/deregulated policyand institutional framework for private sector-led minor irrigationdevelopment. It would accomplish this by providing a foreign exchangefacility to allow private equipment dealers to import power tillers and sallengines required for STW and LLP to be sold to farmers. To ensure that theproject funds are used for capital goods investment, the flow of funds will bemonitored and evaluated by the MOA. The project will cover the entirecountry, with the exception of areas having saline groundwater (see MapNo. 22593), and will complement the proposed NMIDP which will concentrate onareas where only DTW technology can be used due to the relatively deepaquifer.

8. PXJr ect Deacripti*n. Over the three-year period, FY92-94, theproject will support investment by farmers in: (a) an estimated 75,000 STW toirrigate some 340,000 ha of land (base cost US$80.0 million); (b) about 6,000LLP to irrigate around 120,000 ha of lznd (base cost US$12.8 million); and(c) about 18,000 power tillers to cultivate approximately 460,000 ha of land(base cost US$23.4 million). Farmers' choice will determine the actualnumbers of STW, ULP and power tillers supplied, so that the above figures areonly indicative. Support for these investments will be provided in thecontext of consolidating the existing policy framework for private sector-ledminor irrigation development, as well as reforms in the closely related areasof fertilizer marketing and foodgrain management. The project will beimplemented by GOB through the Bangladesh Bank (BB) and KOA.

9. The total project cost is estimated at US$126.7 million, includinga foreign exchangs component of US$75.0 million, representing the foreignexchange cost of the imported engines for STW and LLP, the power tillers andequipment for the Monitoring and Evaluation Unit (MEU) to be established inMOA. Procurement of the STW, ULP and power tillers to be provided under theproject would be done by private equipment dealers following establishedcommercial practices. However, to ensure competition for large import orders,any single contract estimated to cost US$1.0 million or more will be procuredby ICB. IDA funds will be channeled to private dealers on a "first-come,first-served" basis through a Special Account in Foreign Exchange (SAPE) to beestablished in BB. Withdrawals from the special account will be on the basisof actual eligible expenditures. Withdrawals under statements of expenditure(SOE) procedures will be permitted for equipment contracts aggregating lessthan US$50,000 equivalent. Withdrawal applications for import contractsamounting to an aggregate of US$50,000 or more will be fully documented.Onlending arrangements are not applicable siace the SAFE would be a foreignexchange facility for project imports. A breakdown of costs and the financingplan are shown in Schedule A. hmounts and methods of procurement anddisbursement, and the disbursement schedule, are shown in Schedule B. A

4

timetable of key project processing events and the status of Bank Groupoperations in Bangladesh are given in Schedules C and D, respectively. TheStaff Appraisal Report (SAR), No. 9003-BD dated May 7, 1991, is beingdistributed separately.

10. At negotiations, agreements were obtained that GOB will: (a) takeall necessary action to: (i) ensure that customs duty and tariff on importedengines of up to 20 hp for use in minor irrigation equipment, as well as onpower tillers, do not exceed the rate of 51 of their free on board (FOB)value; (i.) abolish and thereafter not institute standardization requirementson imported minor irrigation equipment; (iii) abolish and thereafter notinstitute restrictions on siting of tubewells in non-surface irrigation areas;(b) require BADC to sell or otherwise dispose of its entire stock of STW/LLPincludeng spare parts, by March 31, 1992, through direct sales to farmers orauction in dealers, and thereafter to refrain from further pur¢hases ofSTW/LLP; (c) take all action to: (i) remove all restrictions on fertilizerimports (TSP, MP and urea); (ii) ensure that all contracts for the comercialimport of foodgrain are awarded on the basis of open international tender;(iii) abolish and thereafter not institute any restrictions on credit forstorage of foodgrain and take steps to facilitate foodgrain storage by theprivate sector; (d) abolish its subsidies on TSP and MP fertilizer as follows:at least 60X by October 31, 1991; 100l by March 31, 1992; and thereafter notdirectly or indirectly subsidize fertilizer prices; (e) cause BB to enter intoParticipation Agreements with Participating Banks, and cause ParticipatingBanks to enter into Dealer Agreements with Dealers on terms and conditionssatisfactory to IDA; (f) monitor: (i) compliance with ParticipationInstruments and Dealer Agreements; (ii) prlce at which equipment under theProject is sold to farmers; (iii) use of equipment sold to farmers to ensurethat it is used for the purposes of the Project; and (g) not later thanDecember 31, 1992, review the implementation of the project with IDA, andpromptly thereafter take all actions required as a result of the review.

11. As conditions of effectiveness of the proposed credit, GOB willhave: (a) abo±ished at least 301 of the subsidies on TSP and MP fertilizers;(b) approved the pro forma for carrying out the Monitoring and EvaluationComponent of the project; and (c) had BB issue to Participating Banks a modelParticipation Instrument and a model Dealer Agreement, satisfactory to IDA,along with a description of the procedures under which the proceeds of theCredit will be made available to finance project investment expenditures.

12. Benefits and Programs of Special EmDhasis. The economic rate ofreturn (ERR) is estimated to exceed 501. The estimated financial rate ofreturn (FRR) is 391 for the STW, 601 for the LLP and 591 for the power tiller.At full development, the project is expected to result in: (a) incrementalannual foodgrain production of 1.3 million tons valued at US$240 million;(b) additional annual employment of 47 million days; and (c) an increase inthe average annual per capita income of some 525,000 farm families from US$48to US$78, thereby lifting them above the poverty line of US$68 per annum. Inaddition to poverty alleviation, the project, through its assistance toprivate equipment dealers, focuses on another of IDA's areas of specialemphasis: private sector development. It is also responsive to thedevelopment needs of women and landless share croppers who will benefit from

5

the economic activities and the investment opportunities generated by theproject.

13. Rlsks. The major rlsk is potential reversals in GOB policy,leading to a contraction of prlvate sector activity and farmer access to minorirrigation equipment, complementary inputs and output markets. This risk isaddressed through appropriate conditionality (paras 10-11). An EnvironmentalAssessment was carried out for the project and the three other agriculturaldevelopment projects to be supported by IDA (para 5). It concluded that theproject would, overall, have major societal benefits, but that negativeenvironmental impacts could develop as in the case of excessive abstraction ofgroundwater. To guard against such negative impacts, continuous monitoringand suitable mitigating arrangements have been Incorporated into the NNIDP andASSP projects, ln line with the recommendations made in the EnvironmentalAssessment.

14. a2ommendatLon. I am satlsfied that the proposed Credit wouldcomply with the Articles of Agreement of the Assoclatlon and recommend theExecutlve Directors approve the proposed Credit.

Barber B. ConablePresLdent

Attachments

Washlngton, DCMay 7, 1991

f

Sche6due A

B.^.NH~So~.

SLLM D AND LV U pM We ATmO PROJECT

Rstimted Cents td Lug Pl:

tuaw agLuML ImULQ9L r Fggi Total.....-. (US$ million) --------

InvsesntComponent

Shallow Tubewells 40.0 40.0 80.0

Low Lift Pumps 5.8 7.0 12.8

Power Tillers 0.J ILA 2LA

Subtotal 45.8 70.4 116.2

and Evaluatlon -L0.1 0.1

Base Cost 45.8 70.5 116.3

Physical Contingencies 0.0 0.0 0.0

Price Contingenies -Li -.5 lo.4

Total Project Costs 1alt 25.0 I267Q

Local Dorlgn Total........ (USM million) ---------

GOB 0.1 0.0 0.1

Farmers 51.6 0.0 51.6

IDA ZL 0 RI1

Total 512 7. l7.2Z7

Al Includes US$5.8 million in taxes.

Sghedule B

BANGlADMS

SHAILpW T=BEWELL AND LOW LIFT PUMP IRRIGATION PROJECT

Procurement Method and Disbursements(US$ million)

Procurement MethodW

Other Total CostInvestment ComDonent

Shallow Tubewells - 87.6 87.6(42.5) (42,5)

Low Lift Pumps - 14.0 14.0(7.5) (7.5)

Power Tillers - 24.9 24.9(24.9) (24.9)

Nonitoring and Evaluation - 0.1 0.1_ 01) L0.1)

TOTAL - 126.7 126.7(75.0) (75.0)

Disbursements

% of ExpendituresCate2orv Amount to be Financed

Equipment 72.0 100% of foreign expenditures

Consultants services for the 0.1 100lMonitoring and EvaluationComponent

Unallocated 2.9 -

75.0

Estimated IDA Disbursements

IDA Fiscal Year 22 93 94 95

Annual 14.0 29.4 23.8 7.8Cumulative 14.0 43.4 67.2 75.0

3 Figures may not add due to rounding. Figures in parentheses are amounts tobe financed by IDA.

Schedule

BANGIADESH

SHALLOW TUBEWELL AND LOW LIFT PUMP IRRIGATION PROJECT

Timetable of Key Processing Events

(a) Time taken to preparle: 18 months

(b) Prepared by: GOB with IDA and ADBassistance

(c) First IDA Mission: October 1989

(d) Appraisal Mission Departure: June 1990

(e) Negotiations: February and April 1991

(f) Planned Date of Effectiveness: August 1991

(g) List of Relevant PCRs and PPARs: Agricultural Credit Project,Cr. 1147-BD, PCR No. 8581,dated April 30, 1990;Import Program Credits IX-XIII, Credits 1071, 1194,1300, 1471 and 1655-BD, PPARNo. 8871, dated June 29, 1990.

Scheule 0

Page 1 of 2TnE STAUS OF SAW 06 OPERATIM IN BANUDESH

A. STATEMENT OF BAK LOANS AND IDA CEIT

(As of March 81, 1991)Amount in USS mtillon(les canceo lations)

Creit No. FY Borrower Purpose Bank IDA Undisbur

1 Loan and 6? ereit. hav been fully dislbrse 60.9 2888.9of which SECAL., SA. and Progrm Crdita a>

Cr. 00-D 1960 ngladsh Eighth Impors 60.0Cr. 1071-0 1901 aladesh Ninth Imports Prgrm 65.0Cr. 1194-SO 1982 ngldh Th Import Progra 100.0Cr. 10-O 1908 B ladesh Eleventh Import. Progra 110.0Cr. 147140 104 ngIash Twelfth mprto Program 140.0Cr. 160440 164 agldesh Supplemental Assistance 28.5Cr. 16840 106 Bngladeh Thiret port Progra 200.0Cr. 1616-0 1967 Bagldesh industrial Sector Creit 190.0Cr. 1016-140 1069 anglil Industrial Sector Credit 2.6Cr. 106940 1000 Bangedt h Energy Scor Ad. Credit 175.0Cr. 1999-140 1060 Bang'adtsh Energy Sector A.. Ceedit 2.8

Sub-Total 1066.8

Cr. 1215460 102 Bangladesh Agriultunral Extension II 20.6 2.6Cr. 2247-0 1902 Bangladesh Chittagong Port 46.7 37.4Cr. 12740 108 Bangtedesh DOep Tubmlll tot 86.2 2.0Cr. 1821-4 1908 Bangladesh Telecommunications III 85.0 12.0Cr. 1849-80 1068 Banladesh Publie Administration 10.4 2.7Cr. 138440 1908 Bangladeh Rural Development I1 66W5 11.6Cr. 1440-0 1964 Banladesh Tchnical Assistance V 26.0 17.9Cr. 145640 1984 Bangladesh Arleultural Reserch 1I 17.2 6.8Cr. 146740 1064 Bangladesh WDmB Sm ll Scbhm 41.5 80.8Cr. 1490-4D 1904 Bangladesh Technical Eduction 81.8 9.8Cr. 174-40 19805 Bnladesh Primary Education II 76.0 9.8Cr. 1566-MD 1065 Bangladeh Second CGa Development 110.0 66.1Cr. 1614-0 1986 Banglodesh Flood Control A Drainage III 48.0 88.6Cr. 163340 1906 Banladesh Rural Electrification II 79.0 65.0Cr. 1684-93 1906 Bangladesh Forestry II 26.0 19.7Cr. 164840 1098 Bangladeh Powr Transmission A blst 56.0 21.1Cr. 1649-8D 1906 Bangladesh Populaton III 78.0 42.4Cr. 166140 106S Bangladesh Shrimp Culture 22.0 15.6Cr. 178440 1907 Bangladesh Dhak WASA III 80.0 16.6Cr. 17490DO 1097 Bangladesh Rtfinery Modification A LPQ 47.0 86.1Cr. 1784-4 1907 Bangladesh Flood Control A Dralnag IV 20.0 16.9Cr. 162740 1987 Bangladesh Road Rehab & Maintenance 102.0 76.5Cr. 187040 1988 Bangladebh Sm Sc FCD & Irrigation It 61.6 87.1Cr. 198040 1968 Bonqladesh Urban Development I 47.6 44.0Cr. 1940-4D 108 B ngladesh " 1ral Roads A Merkets 62.3 44.5Cr. 1942-0 10S8 Banladesh industrial Energy Efficlency 11.4 11.2Cr. 2000-4D 169" Bangladrh Export Developm nt 25.0 28.1Cr. 2016040 199 angladeh Powr Distrits o (16 Town ) 67.0 88.6Cr. 204840 1099 bnladeh flood Rehabiltation III 138.0 08.0Cr. 209-tDO 1990 Bangladeh 900B System Rehab 68.9 51.1Cr. 2114 D0 1990 Bangladebh General Educatlon 159.8 152.7Cr. 2129-80 1960 angladesh Rural Electritication III 106.0 107.6Cr. 2146-4 1990 Bangl desh Fisheries III 44.6 46.0*Cr. 215240 1000 Bangladeh Finaneitl Sector Adjust. Credit 176.0 102.5sCr. 2152It 191 a ngladesh Financ)al Sector Adjust. Credit 8.5 8.4

Total 56.9 4900.2 c) 1848.0 e>of whieh has ben rep1id 18.2 80.9

Total now held by Bank and IDA 48.7 4839.3

Asount sold 0.4Of which repaid 0.4 Total Undlebursd 1848.0

a) Approved durlng or after FY80.b> Not yet effective.c The principal amount of IDA crodits are shown In US Dollar equlvalent at date of negotiations,

as shown In the President's Report. Undisbursed asmunts shown in US Dol lor equivalent are valuedat the exchange rate applicable on the date of this statement. In some Came, therefore, theundisbureed blance Indicates a dollar amount greater than the original principal creditamount expressed In dollars.

O AL, SECAL or Proram Loan.

Scebdulo DPage 2 of 2

STATEHIET OP IPC INVESIVERS(As of March 31, 1991)

Investment Fisca.L Type of Loan Equity TotalNumber Year Obliwor Business (USS million)

139 1969 Karnafuli Paper Mills Ltd. Pulp and Paper 5.60 0.63 6.23

463 1979 Highepeed Shipbuilding andHeavy Engineering Co. Ltd. Shipbuilding 1.20 0.36 1.56

528 1980 Industrial Promotlon andDevelopment Company ofBangladesh, Ltd. DPC 0.00 1.05 1.05

785 1975 Iadustrial DevlopmentLeasiag Com"pany of money and CapitalBangladesh Markets 3.02 0.16 3.18

7671 1985/ Bata Shoo Compay857 86 (Bangladesh) Ltd. Shoes 4.46 0.51 4.97

1991 k DTIL Textiles 2.50 0.0 2.5

Total Gross Commitments 16.78 2.71 16.99

Less cancellations, terminations,repayment and sales 10.00 0.99 10.99

Total Cmtments now held by IIC 6.34 1.72 8.06

Total Undisbursed (includiunarticinants' nortion) - 0.07 2.57

a/ Excbange adjustments account for Variation in total gross cOMMiMnts, less csncellatrios,etc., and total commitments ano held by IFC.

ki Includes approved but not committed projects to date.

= t % WfJi ~~~~~~~~~90. 91. 9?

e ;,,< t< > I N DIA ~~~~B A N G L A D E S HINDIA BNLDSSHALLOW TUBEWELL AND LOW LIFT PUMP IRRIGATION PROJECT

AREAS SUITABLE FOR SHALLOW TUBEWELL DEVELOPMENUpoitlo llodqoorten

r INDIA . Z e Z ' Hodqw

,* '9) Owisee, H .8ay HfBdqu XXAvoUpoo1los Undr roe I0 NI2ipl r Cepiole

- Region Booedo.iee~zbB".oif

- AWXiMete UMit of So0 4 Gf0ndte Dio f

2?~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~2e

Amit~~~~~~~~~~~~~~~~~~~~~~~~~i

Appro,' ma'e \f mit Ew of , Bengal

_, ip 3p v MYANsmi f . r ._

'n.-oesr I5

~~~~~~~~~ 0 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~j 9nr~~~~~~~~~~~~~~~~~~~~~~ )n 0 20 40 40 UUOUETUS 21~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~