34295 Attachment I International DevelopmentAssociation ADDITIONS TO IDA RESOURCES: TENTH REPLENISHMENT Approved by the Executive Directors on January 12, 1993 - - TF- - -- 1- Table of Contents Page I. Introduction................................ 1 II. IDA10 Objectivesand Implementation .......... ............. 2 III. The Tenth Replenishment ............................... 20 IV. IDA10 Implementation Arrangements ........................ 24 ANNEX A ............................... 28 ANNEX B ............................... 29 l l _ I. Introduction 1. By the end of June 1993,the InternationalDevelopmentAssociationwill have committed the donor resources made available to it during the Ninth Replenishment. In view of this, the representatives of the donor governments, the IDA Deputies, began negotiations for the Tenth Replenishmentof IDA's resources in January 1992 under the chairmanship of Mr. Ernest Stern, IDA's Managing Director. These negotiationshave now been completed. IDA10 is intended to provide resources to fund credits that will be committedduring the period July 1, 1993to June 30, 1996. 2. Prior to the start of formal negotiations,an initial meetingof the IDA10 Deputies in Bangkokon October 12, 1991 set the agendafor the negotiationswhich began on January 27-28, 1992 in Paris. Meetingsalso were held on April 24-25, 1992 in Washington,D.C., on July 1-2, 1992 in Dublin, on September 17-18, 1992 in Washington,D.C., on November 12-13, 1992 in Paris, and on December 14-15, 1992 in Berne. The Discussion Papers and Technical Notes which served as backgrounddocumentsfor these meetingsare listed in Annex A. 3. The Deputies have recommended a replenishment of SDR 13 billion, which when combined with advance commitments against future repayments by IDA borrowers will permit commitmentauthorityof SDR 15.5 billion. This will be augmentedfurther by transfers from the IBRD's net income approved by IBRD's Board of Governors. The Deputiesplace great importanceon such transfers to IDA out of availableIBRDnet income, and note management'sintentionto recommendthat high priority be given to these transfers, within current IBRD policy on the allocation of net income. They urge the ExecutiveDirectorsof the Bank to continueto recommendto the Board of Governorsthe largest transfers feasibleduring the IDA10 period. The replenishmentand the additionalresources will enable IDA to supportdevelopment programsthat emphasizepovertyreduction,economicadjustmentand growth, and environmentalsustainabilityin borrowing countries. The proposed replenishment will enhance IDA's capacity to support Agenda 21, the product of the United Nations Conference on Environmentand Development(UNCED)held in Rio in June 1992. 4. This report details the understandingof the Deputies on IDA's programs during the replenishmentperiod, the allocationof IDA resources, the agreedburden sharing amongdonors, and the recommendedproceduresfor implementingthe replenishment. II. IDA10 Objectives and hnplementation IDA's Evolving Role 5. The IDA9 negotiationswere held in 1989 after a decade of developmentcrisis and shrinkingresource availabilityin many IDA recipientcountries. In responseto this crisis, many of the poorest countries,with IDA's support, have undertakenpolicychangesdesignedto createthe foundation for resumed growth and increase the efficiency of resource mobilization and use. The structural weaknessesof the poorest countries--theirrapidly growing populations, low levels of human resource development,limited institutionalcapacityin the public sector, small and inexperiencedprivate sectors and low levels of domestic savings--aresignificantobstaclesto growth at the best of times. But these weaknesses, in combinationwith large debt burdens, declining relative prices for primary export commoditiesand constantreal levelsof officialdevelopment assistanceduring the latter part of the 1980s, meant that, by the end of the decade, improvedpolicies had not yet been reflected in higher per capita income levels in most IDA recipientcountries. 6. Against this background, the IDA9 Deputies agreed that during the IDA9 period the Associationshould focus on three main objectivesto support economic developmentin the poorest countries: poverty reduction, economic adjustmentand growth, and environmentalprotection and improvement. They identifieda number of specific steps that should be implementedin each of these areas and asked that progress on these be the subject of annual reports by IDA's managementto its ExecutiveDirectors. 7. In the course of their meetings, the IDA10 Deputies reviewed the progress made in implementingthe IDA9 understandings. In the three years since the IDA9 Deputies met, the global economyhas been characterizedby further declines in relativeprices of primary export commodities, whileexternaldevelopment financinghas not grown in real terms. This has contributedto a continuation of the disappointinglyslowgrowth in manyof the poorest countries. In addition,nine countriesthat were not factored into the replenishmentlevel of IDA9 have since become IDA borrowers. In this situation of increaseddemand for IDA resources, the Deputiesenjoinedboth IDA and its borrowers to do their utmost to ensure that resources are used as efficientlyas possible. 8. The three main IDA9 objectivesare still an accurate reflection of the key development challengesfacing the poorest countries and are central to Agenda21. The Deputies noted the progress I I I -3 - on this during IDAIO. In each made in the course of IDA9, but underscoredthe importanceof building further. of the three priority areas, the Deputies saw a need to strengthenIDA's approaches reduction 9. Poverty reduction: The IDA9 Deputies asked IDA to ensure that poverty the poverty focus into its would be central to its policy dialogue with borrower countries, to integrate reduction in the allocation operations, and to give greater weight to countries' commitmentto poverty World DevelopmentReport of IDA resources. IDA has responded in a number of ways. The 1990 a two-pronged approach, reviewed country experienceswith poverty reduction efforts. It advocated combiningeconomicpolicy adjustments to improvethe economicopportunitiesfor the poor throughlabor base of the poor through intensive growth, and specific interventionsto build the human resource has provided staff with expanded social services. Based on this broad framework, IDA management Poverty Policy comprehensive operationalguidanceon povertyissuesthroughthree documents. First, the to Bank operations. Second, Paper (December, 1990)illustratedhow the WDR approachcan be applied and guidelines for a new Operational Directive (December, 1991) summarized Bank procedures (May, 1992)provided operationalwork on povertyreduction. Third, the Poverty ReductionHandbook best-practiceoperationalapproaches. IDA's lending 10. IDA9 programsand operationsreflectthese new policiesand approaches. allocationsgive increasedweight to countries' commitment to poverty reduction. IDA is undertaking are carried through into the poverty assessmentsfor all activeborrowers. These poverty assessments priorities and the design country dialogueand increasinglyprovide the basis for IDA's sectorallending In FY89, 14 percent of IDA of operationstailoredto support governments'efforts to reduce poverty. substantiallyincreased lendingwas for humanresourcedevelopment.In the IDA9period, the Association and populationand family such lending,especiallyfor primary education,primary health care, nutrition, in FY91-92. More broadly, planning. The share of the socialsectors reached29 percent of IDA credits reduction or human resource nearly 40 percent of total IDA9 lending in these two years had poverty Nearly one in three IDA developmentas its primary objective, compared with 27 percent in IDA8. In its adjustmentlending, investmentcredits in the past year were specificallytargetedto reducepoverty. which favor the use of capital IDA has encouragedgovernmentsto eliminatein particularthosedistortions sectionsof the population. over labor and to provide social safetynets to protect the most vulnerable to sharpen 11. While expressingtheir satisfactionwith the frameworkIDA has put in place need for IDA to increase its its focus on poverty reduction, the IDAIO Deputies emphasizedthe importanceof completionof operational effectivenessin this area. As a key to this, they stressedthe l ~ -l _ ~ _ _ .l countrypoverty assessmentsfor all major IDA recipientsby the end of 1994, and their integrationinto IDA's country assistancestrategies. Deputies also underscoredthe importance of involvingrecipient governmentsin the preparationof the assessments. These poverty assessmentscan also provide a basis for collaborationamongdonors and the Deputiesurged IDA to table them in consultativegroup and aid consortiummeetings. 12. The Deputies noted the complementaryuse of adjustment programs and targeted investmentsfor poverty reduction in the country strategies. They stressed the importanceof sound macroeconomic policiesdesignedto create equitablegrowthby improvingthe employmentopportunities of the poor and their accessto productiveresources. Adjustmentprogramsthat incorporatesuch policies provide importantbenefits for the poor in general, and the rural poor in particular. At the same time, the Deputiesnotedthe special importanceof protectingsocialsectorexpendituresand of organizingsocial safety nets for those most vulnerableduring the adjustmentprocess, and encouraged IDA to include specific povertyreduction measures into the design of adjustmentprograms wheneverfeasible. These poverty interventionsare also an especially important componentof policies in countries which are making the transition to a more market-orientedeconomy. IDA's work in this area, while expanding rapidly, is still at an early stage and more analyticwork is neededto support these efforts. In keeping with efforts to sharpen IDA's poverty focus, the Deputiesunderscoredthe need for IDA to continueto emphasize social sector lending and poverty-targetedinvestments, i.e. those which disproportionately benefit the poor or have a specificmechanism for identifyingand reachingthe poor. The Deputiesexpect the higher shares of social sector and poverty-targetedinvestmentsachievedduring IDA9 to be steadily increasedfurtherduring IDA10, wherejustifiedby the countryassistancestrategy. They also expectIDA to monitor poverty reductionthrough the use of appropriateeconomicand social indicators, and assess the results of povertypolicies. The Deputiesalso look forwardto the reviewby the ExecutiveDirectors of the progressreport on the Bank Group's povertyreductionstrategy. 13. The Deputies attach special importance to IDA's efforts in two areas--women in developmentand populationplanning--askey to effectivepoverty reductionprograms. The recognition of the centralrole in poverty reductionof actionsto support women in development is reflected in the fact that more than 50 percent of new IDA operations include specific actionsto assist women. The Deputies asked IDA to reinforce its focus on women in development,and to ensure that their special needs and contributionsare reflectedin its policydialoguewith the borrowingcountries. They notedthat gender analysisshould become an integralpart of IDA's regular economicand sector work and poverty assessmentsas well as a basis for designingand implementingoperationalactivities. IDA should expand -5 - its support for family planningand social servicesfor women, includingin particulareducationof girls. Women's access to educationhas proven to be a strategicfactor for increased family welfare; IDA's lendingshould take this into account. Gender issues also need to be better integrated in IDA's lending in areas outside the human resourceand social sectors. 14. The Deputiesalso notedthe enhancedlevel of IDA's activitiesin the area of population planning sincethe beginningof IDA9. IDA has increasedits analysisof populationissues and integrated family planninginto the menu of basic health serviceswhich its projectsfund. This has contributedto the almost threefold increase in annual IDA lending for population, health and nutrition for FY91-92, compared to the IDA8 period. While Deputies welcomedboth the increased support by IDA and the increasingrecognitionby developingcountry governmentsof the central challengewhich high rates of population growth represent for the sustainabilityof development,they also emphasizedthat programs must be intensifiedand their effectivenessimproved. Despitesome successin slowinggrowth rates, the current and prospective population growth rates in the poorest countries limit the range of choices availableto their populationsand the capacityto reducepovertyon a sustainablebasis. Increaseddemand for public servicespre-emptsthe savingsneededfor investmentand growth. The Deputieslook to IDA to increase further its support for populationprograms. 15. Economic adjustment and growth: The number of countries undertakingadjustment efforts has increasedsteadily. In Sub-SaharanAfricacloseto 25 countriesare now pursuingadjustment. A particularly importantdevelopmentin the IDA9 period was the decision of India to embark on an adjustmentprogramwith supportfrom IDA. Almostall the adjustingcountrieshave improvedincentives for economicefficiency,especiallyin such areas as pricingpolicies, tariff and trade reforms, and interest rate and credit policies. Despite this, investmentrates have remained low in countries undergoing adjustmentand the expectedsupply responsehas been slow to materialize. To deepen adjustmentand enhance the supply response, IDA has been increasing its support for measures to improve public expendituremanagement,to build the capacityof the civil serviceand key developmentinstitutions,and to promote the private sector. 16. IDA's support for adjustmenthas been strengthenedin a number of other ways. First, as mentionedabove, IDA has increasinglybuilt social safety nets into its adjustmentlending to protect of programs. In 7 countrieswhich receivedstructural adjustment the poor and enhancethe sustainability credits in FY91-92, social funds were established or other short-term actions, such as public works programs or transitional food subsidies, taken in conjunctionwith their adjustment programs. In I I _ _- ._I -6 - 15 countries IDA-supportedadjustmentoperations included measures to raise health and education expenditures. Second, as requestedby the IDA9 Deputies,lending allocations place a large weight on a country's economicmanagementperformance, with funding in poor-performingcountries limited to core programs or non-lending activities. Third, IDA has also played an active role in donor coordination for adjusting countries, especially for those in Sub-SaharanAfrica through the Special Program of Assistance(SPA). Finally, IDA has continuedto strengthen collaborationwith the IMF through the Policy Framework Paper (PFP) process, which covers all countries which receive IMF-ESAFsupport and to which IDA provides adjustmentsupport. 17. The Deputiesnotedthat there continuesto be needfor economicadjustmentand that IDA must assistin fosteringnationalownershipof reformprograms. While structuralreformshavetaken root in many IDA borrowing countriesand IDA's basic agendain this area--policyreforms combined with central, there are a numberof other aspectsof adjustmentwhich institutionalcapacitybuilding--remains need further emphasis. In times of serious resourcescarcity, it is particularlyimportantthat public expenditures reflect development priorities, and that non-development expenditures, including militaryexpenditures,be reducedto the maximumextent feasible. Deputiesasked that the review of country strategies by IDA's Executive Directors should take account of trends in these areas. - The low investment rates in adjustingIDA countriesremaina concern, and IDA should ensure that reformpackagesare compatiblewith encouragingproductiveinvestmentsand that there is an appropriate balance between IDA's own adjustment and investment lendingto each individualcountry. * While everyeffort mustbe madeto increasedomesticsavingsto finance new investment, Deputiesnoted the continuingconstraintimposedby the still large levelsof outstanding debt in many developingcountries. They expressedthe hope that the Paris Club would continueproviding an appropriatedegree of concessionalityin the treatment of official debt extendedto IDA borrowersthat are undertaking adjustmentprograms; they called for the full and rapid use of the IDA Debt ReductionFacilityto fund the buy-backof the commercialdebt of IDA-only countries, and urged the timely replenishmentof this -7- Facility; and they supported the continuationof the special program of supplemental donor contributionsto the program. The Deputiesemphasizedthe need of countriesto take advantageof the capabilitiesof the private sector and asked IDA to undertake further steps to encourage an enabling environmentthat will allow the private sector to respond to sound economicpolicies while improving the efficiency of public sector delivery systems. The private sector assessmentswhich IDA is undertaking will be an importantbasis for planning IDA's support in this regard and Deputies asked that IDA's Executive Directors be kept informedthroughthe CountryAssistanceStrategy discussionsof the proposedtiming of these assessments. Deputiesnoted that IDA's infrastructurelending combinedwith its assistancein developingsupportivelegal, regulatory and incentiveframeworks, are key instruments for stimulating private investment. They asked that IDA's management report to the Executive Directors on the problems experienced in private sector development (including privatization) in low income countries, and how IDA is addressingthem. Finally, Deputiesemphasizedthe importanceof good governance in the implementation of sound economicpolicies. They noted the role which accountablepublic institutions, transparent economicpolicies and a predictable and stable legal frameworkare likely to play in effectiveadjustmentand they calledfor IDA-supportedadjustmentprograms to strengthenthe capacityof governmentsin these areas. 18. Strengthening IDA's environmental focus: The Deputiesnoted the rapid evolutionof IDA's role in supportingenvironmental and underlinedthe importanceof continuingefforts sustainability in this area. While environmentalproblemsarise virtuallyeverywhere,the World DevelopmentReport 1992 demonstrates that low income countries are very seriously at risk from the rapid growth of environmentally unsustainableactivities. Low incomecountrieshave the highestpopulationgrowthrates and are already hometo almost60 percent of the world's population. About70 percent of the projected increase in the world's population over the next 35 years is expected to occur in the low income countries. Whether it is a matterof accessto safe water and sanitation,or of urban air or river pollution, or of soil depletion,salinization,water loggingor deforestation--theseproblemsare heavily concentrated or growing most rapidly in the low income countries. -8- 19. IDA's sustainabledevelopmentstrategy,as articulatedin the WorldDevelopment Report, is already in place. The first elementof the strategy-policies and programs for reducing poverty and improving economicefficiency--iscentral to IDA's activities. The second element--specificpolicies, institutionbuilding, and investmentstargeted to environmentalprotection and improvement-has been increasing in importanceduring IDA9. IDA committedabout SDR 900 million for 25 projects with environmentalobjectives in FY92. In addition, the principles of sustainable developmentare being incorporatedinto IDA's dialogue with borrowers and the design of projects of all types. IDA will explore how to design indicators that measure its progress in supporting sustainable development programs. 20. IDA is also assisting all active borrowers to prepare national Environmental Action Plans (EAPs), as requestedby the IDA9 Deputies;and the ExecutiveDirectorsare informedof progress on EAPs through the Annual EnvironmentReports. While not all borrowers will completetheir EAPs by June 30, 1993, the 42 countries that are expected to do so by about that time account for over 80 percent of total IDA credits. Many governmentshave consultedwith local communities,private firms, universitiesand other non-governmental entities in formulatingEAPs. This has helped build a nationalconsensusaroundthe contentand implementation of the plans. While this has sometimesdelayed completionof plans, the benefits appear to outweighthe costs. For the few countriesthat have not yet startedon EAPs, IDA is launchingthe processby preparingenvironmental strategypapers for discussion with the authorities. The countriesthat have already completedtheir plans are using them to help plan investments, mobilize and coordinate donor financing, and improve national policies that affect the environment. The Deputies attachedgreat weight to timely completionand high quality of EAPs with effectivepublicparticipation. IDA shouldassist governmentsin achievingthis, but the Deputiesstressed that EAPs are the government'sown plans. Once EAPs are availableIDA should integratethem into its policy dialogue and country assistance strategies. Country Economic Memoranda should more systematically and comprehensivelytake into account environmental issues and their impact on developmentstrategies. 21. In response to the request of the IDA9 Deputies, IDA borrowers are carrying out Environmental Assessments (EAs)at an early stageof project design to ensure that relevantalternative approachesare consideredand that any potentiallyharmful impactis eliminatedor mitigated. Some 20 IDA operationsapprovedor now under preparationare subjectto full assessmentsand 150to assessments of particular components. The OperationalDirectiveon EnvironmentalAssessments,originally issued in 1989, was revised in 1991 to broaden its scope and applicability. The reviseddirective introduceda -9- new system for classifyingprojects accordingto the nature and extent of their environmental impact. Further, it requiresthe prospectiveborrower to makethe EA report availableto affectedgroups and local non-governmentalorganizations(NGOs), and to carry out meaningful consultationswith them. For projects with significant environmentalimpact, a summary of the EA report is furnished to IDA's Executive Directors in advance of project appraisal. The Deputies recommendedto the Executive Directors that once the borrower has made informationpublicly available in a borrowing country, the same informationshould also be madepublicly availableat Bank Headquartersand in field offices in the member countries. 22. The IDAIODeputiesasked that IDA assist borrowersto improvethe quality and scope of environmental assessments and analyses. They noted that the environmental data sheets about forthcoming projects are to be made more uniform and more detailed, and that the sheets are now publicly available. They recommendedthat, for projects requiring environmentalanalysis,the analysis wouldalso be madepublicly availableupon request,as with environmentalassessments,well in advance of the project's considerationby the ExecutiveDirectors. The Deputiesnoted that public consultation may be warrantedfor some of these projects. They also supportedthe annual reviewsof the EA process by IDA's ExecutiveDirectors. The Deputiessuggestedthat such reviews should be continued through the IDA1Operiod, and shouldrecommendto the ExecutiveDirectors any changesneededto enhance the quality of the process. The evaluationsshould also review the system of classificationof projects and whether it effectivelyensures that all projects with potentiallyserious environmentaleffects are being assessedadequately. The preparationof sectoral EAs shouldbe encouragedto guidecountry investment programsin environmentally sensitivesectors. TheBank Groupshouldsupportfurther analyticwork and researchon how environmentalcosts and benefits can be integratedinto systemsof nationalaccounts. 23. A number of other actions in the field of environmentare worthy of mention. First, reflectingthe special importancethe Bank Group attachesto the environment,as mentionedabove, the 1992 World DevelopmentReport was devotedto the topic. It provides a broad conceptualframework for integratingthe environmentintoIDA's analysisand operationsfor promotingsustainabledevelopment. Second, IDA has put in place a new forestry policy which requiresthat its forestry investments be part of a borrower's overall strategyfor sustainableuse and conservationof forest resources. As part of this policy IDA no longer finances commerciallogging in primary moist tropical forests. IDA's forestry projects now focus on assistinggovernmentsto put in place the institutions,proceduresand information systems needed for sustainableforest management. Third, based on the results of the supervision and evaluationof a wide range of projects, new operational directives on projects involving indigenous lI - 10- to provideclearer guidance people, involuntaryresettlementand agriculturalpest managementwere issued or have been issued to staff and prospective borrowers. Policy papers are either under preparation aspectsof agricultural dealing with water resources,the power sector and energyefficiency,and various of NGOs in the design policies. Fourth, IDA has succeededin substantiallyincreasingthe involvement 50 and implementation of projects, particularly those with environmentalimpacts. In FY91-92, almost and human resource percent of the projects in Africa--mostof them in the agricultural,infrastructure, has been areas--includedsome form of NGO involvement. Fifth, staff training on environmentalissues strengthened,and a three-volume EnvironmentalAssessmentSourcebookgives detailedexplanationsand all of these actions and examples for guidance of both staff and borrowers. The Deputies endorsed stressed the importanceof adheringto the environmentalguidelinesin all projects. the global 24. The IDA9 period has also seen the extension of the Bank Group's role to environment,throughthe establishment of the GlobalEnvironment Facility(GEF)with the WorldBank environmentalbenefitsin as administrator. The GEF financesthe incrementalcosts of achievingglobal and climate change. The the areas of protecting the ozone layer, biodiversity, internationalwaters, Program and the United Facility is implementedin collaborationwith the United Nations Development Nations EnvironmentProgramme. IDA's 25. The IDAIO Deputies suggested a number of further actions to strengthen those for the environment environmentalfocus. Many sustainabledevelopmentinterventions,including scale. The Deputies and those in rural areas, must be designed, managed and operated on a small establisha small projects suggestedthat IDA's managementexplore whetherit is useful and feasibleto such as NGOs and micro- facility to focus on such environmentalinitiativesand on outreach to groups enterprises. of 26. The Deputies stressed the importance of ensuring the environmentalsustainability EAP framework where programs in key sectors. Such programs should be integrated into the end-use energy efficiency appropriate. In the energy sector, they noted the importanceof promoting centralto IDA's approach alongsideincreasesin supply. While efficientpricing policy rightly remains need to be addressed. In to end-use energy efficiency, environmentaland institutionalconstraintsalso its energy sectorwork, IDA shouldpromote environmentally sustainableenergy strategiesthat minimize side and alternative costs, by expandingits least cost planninganalysisto take accountof both demand supplyside options employingproven technologies in energyconservationand renewableenergysources. of these strategies, which Credits in the energy sector should be based on or support the development - 11 - should fully incorporatedomesticenvironmentalconsiderations. A similar approach should be adopted for othersectors--inparticulartransportation--aswellas industry,urban rehabilitation,rural development, and small enterprises. The efficiencyof water resource use and conservationis another critical area. TheDeputiesaskedthat IDA's managementmakeappropriatechangesin organization,structure, staffing, and training, to strengthencoordination betweenIDA's policiesand operationsin these key areas. They noted that this should be achievedas far as possible through reallocatingrather than increasingstaff and budget resources. 27. Although environmentallysound policies and programs are essential for sustainable development, in the short term they often add to investmentand operating costs. Most low income countriesare unable to financethese costs throughadditionalexternalborrowing. For them, intensifying environmentalefforts can mean re-orderingexistingdevelopment objectivesor reducingalreadyminimal consumptionlevels. Most structural adjustmentreforms in low income countries aim, as part of their objective, to raise savings rates and to free up resourcesby rationalizingpublic expenditureprograms. But these efforts may not be enoughto mobilizethe additionalfinancingrequiredto address many of the fundamentalenvironmentalproblemsthat low income countriesface. Incrementalconcessionalfinance, as well as institutionalstrengthening,are neededto supportcomprehensive environmentalinitiatives--that is, programs that will not merely ameliorateeconomicproblems in low income countries, but that will help them reducewater and air pollution, soil degradationand deforestation;prevent desertificationand loss of biodiversity;and improve access to potable water and sanitation. These considerationsare an importantfactor in IDA's expandedsupport for these programs during the IDA10 period. Implementing IDAIO 28. The Deputiesnotedthat IDA's ExecutiveDirectorshave responsibilityfor ensuringthat the objectivesof the membershipare effectivelyincorporatedinto IDA's programs. While the Deputies expect a monitorableresponseon IDA's part to the objectivesthey have agreed as the basis for the Tenth Replenishment,they recognizethat it is for IDA's Executive Directors to define the specific policies which comprisethe Association's response. In a numberof areas IDA's ExecutiveDirectors are already taking action and the Deputies urged that specific follow-upbe proposed in the other areas identified below. 29. The review of country assistancestrategies by IDA's Executive Directors, which was introducedin IDA9, has in the Deputies' view been very useful in helpingIDA translatethese objectives - 12 - into policies and to apply these policies at the country level. The Deputies noted that the initial experiencehad been somewhatmixed, but that as both ExecutiveDirectors and staff have become more familiar with the process, there has been significant improvement. They welcomed the Executive Directors' agreementto the proposals of the Reportof the Committeeon Board Procedures, with regard to the role and coverageof these reviews. It is their understandingthat, inter alia, such reviews will cover governance,local participationand portfoliomanagement. 30. In the Deputies' view, the Tenth Replenishmentperiod is one in which IDA should deepen and strengthen implementation of the agreed objectives. Four main instrumentsthat IDA uses to achievethese objectiveswere consideredby the Deputies:the policydialoguewith recipientcountries; the allocationof funds by countryand sector; the qualityof IDA's lendingactivities;and its coordination of donor funding. In each of theseareas the Deputiesidentifieda needto strengthenIDA's approachand capacity so as to enhancethe quality of its support for its borrowers. A. The Policy Dialogue 31. The Deputies reaffirmed the importanceof IDA's role in the policy dialogue and in assistingcountriesto developthe analyticalbase andthe programapproachesneededto reflectthe priority objectives. IDA's policydialoguehas traditionallyencompassed macroeconomic and structuralpolicies, public expenditureprograms and institutional issues. In IDA9 the Association's dialogue with its borrowers emphasizedhow critical these were for promotinga sustainabledevelopmentstrategy which stimulatesgrowth, reduces poverty, and protects the natural resource base. IDA has stressed that economicreforms, properlydesigned,canpromoteall three aspectsof development. However,they need to be supported by institutionalcapability to implement and monitor these developmentpolicies and programs, by infrastructureprovision to support the supply response, and by investments in human capital. 32. The experienceof the 1980shasbroughtincreasingawarenessthat effectivepolicy-making and implementationalso require good governance. IDA becameheavily involvedin one major element of good governance, i.e., public sector management, and in particular with public expenditure management,civil servicereform and parastatalreform. This will remainan importantelementof IDA's ongoing work in this area. More broadly,IDA has identifiedfour major dimensionsof governancethat are critical to the developmentprocess, and to the effectiveuse of IDA's resources: - 13 - * Accountability: At the macro level this includesfinancialaccountability,in terms of an effective accounting system for expenditure control and cash management, and an externalaudit system. At the micro level it requiresaccountabilityto the governmentof the managersof implementingagenciesand parastatalsfor operationalefficiency. * Transparency: Private sector investmentdecisionsdepend on public knowledgeof the government'spolicies and confidencein its intentions,as well as information--inlarge part providedby the government--oneconomicand market conditions. Transparencyof decision-making is also critical to effectiveness of resourceuse and to reduce corruption and waste. * The Rule of Law: A predictableand stable legal frameworkis essential for businesses and individuals to assess economicopportunities and act upon them without fear of arbitraryinterferenceor expropriation.This requiresthat the rules be knownin advance, that they be actually in force and applied consistently and fairly, that conflicts be resolvable by an independentjudicial system, and that procedures for amending and repealingthe rules exist and be publicly known. * Participation: Good governancerequiresthat directly affected communitiesand groups shouldbe able to participatein the design and implementation of programs and projects. Even where projects have a secondary impact on particular localities or population groups, there shouldbe a consultationprocesswhich takestheir views intoaccount. This aspect of governance is an essential element of securing commitmentand support for projects and enhancingthe qualityof their implementation. 33. The Deputiesnotedthat IDA's Articlesprohibitinterferencein politicalaffairsand require it to take only economicconsiderationsinto account. IDA will therefore focus on the economicaspects of good governancewithinthe limits of its Articlesof Agreementas applied by the ExecutiveDirectors. In the Deputies' view certain issues, such as democratizationand respect for human rights, can have important long-term implications for the capacity of a country to initiate and sustain programs for effectivepoverty reduction, economicadjustmentand growth, and environmentalsustainability. 34. The Deputies looked to IDA to play a role in supporting better governance through incorporatingappropriateelementsinto the substanceof its dialogue, its economicand sector reporting, I~~~ I____ - 14 - and the design of its operations. They asked that future reviews of IDA implementationshould report on progress in integratingthese issues in the policy dialogueand supportinganalysis. 35. The Deputies noted that public expenditure reviews are an especially important instrumentin IDA's dialoguewith recipients. Thesereviewshave been effectivein focusinggovernment attention on priority investmentand recurrent expenditures. They emphasizedthe need to protect essential social sector expenditures from cuts during the adjustmentprocess to the maximum extent possible, while increasing the cost effectivenessof the delivery systems. They urged that IDA also address the questionof whether adequatelevels of developmentexpendituresare being crowded out by the weight of large or rising non-developmentexpenditures, including military expenditures, in the budgets of recipient countries, and to take up this questionwith the government concerned wherever appropriate. Therefore, the Deputiesurged IDA to work with the IMF to assist governmentsto provide accurate data on the levels of non-development expenditures,in order to better assess the adequacyof the developmentbudget. IDA should includethe results of the publicexpenditurereviews, includingkey summaryindicators, in its country assistancestrategy presentationsto the ExecutiveDirectors. B. Allocation of IDA Resources: 36. The way in which IDA allocates its resources by country and by sector is a key of its policies. The Deputiesaffirmedthe centralrole which determinantof the effectiveimplementation performance plays in IDA allocations. IDA should focus its efforts on those countries that have demonstratedtheir commitmentto the Association's central objectives--povertyreduction, economic adjustmentand growth, and environmentalsustainability. Accessto IDA10 resources should, as in the case of IDA9, be based on annual assessmentsof performance, with allocationsrelated to the strength of countries' commitment to theseobjectives. In countrieswhoseperformanceis not consistentwith these objectives,IDA should limit lending to the minimumneeded to maintain the dialoguebut continue its non-lending activities, in particular economic and sector work, to encourage improvements in performance. 37. The Deputies were pleased to note that IDA's managementhas instructed staff to pay explicit attention to issues of governance, such as accountability,transparency, the rule of law, and consultationwith NGOs and groupsaffectedby projects,in definingperformance. They also recognized the usefulness of the more precise guidancebeing given on performance with regard to environmental policies and supportingactionssuch as the preparationand implementation of EAPs, and the steps taken - 15 - to incorporateinto IDA allocationsan assessmentof the degree to which the levels and trends of non- developmentexpendituresare hamperingthe developmenteffort. 38. With regard to the sectoral compositionof IDA lending, the Deputieswere of the view that IDA10 lendingpriorities should continueto promotethe objectivesagreed in IDA9. The Deputies also stressed that lending allocations to IDA recipients should reinforce the linkages between environmentalprotectionand povertyreductionas a way of promotingsustainabledevelopment. In this regard they emphasizedthe need to continue substantiallending for human resource development,and to deepen IDA's programs to encompassenvironmentalsustainability. The Deputies noted that the proposedreplenishmentwould enhanceIDA's capacityto support these efforts. 39. The Deputiesindicatedthat as in IDA8 and IDA9, the share of adjustmentlendingshould remain at about 25 percent and should not exceed 30 percent of total IDA lending. This level should enable IDA to continue its leading role in the Special Program for Assistanceto Sub-SaharanAfrica (SPA) and its new support for adjustmentin India, while enabling it to coordinate effectively with bilateral lendersand the Fund's EnhancedStructuralAdjustment Facility (ESAF). They notedthe impact that new claimantsmight have on this percentagesince initial programs in countriesthat are emerging from civil wars and unrest are likely to be heavily weightedtowards quick-disbursing operations, but were of the view that, if such increaseddemand materialized,the ceiling could be exceededonly with the approval of the ExecutiveDirectors. C. The Quality or the Project Portfolio 40. The Deputies remained concerned about whether IDA's projects are appropriately conceived,designedand implementedso as to achievethe three priority objectives. Recent reviews of portfolio quality show a decliningpercentageof satisfactoryprojects, primarily in Sub-SaharanAfrica. The Deputiesnotedthat a fundamentalreason for this decline is the increasingdiversityand complexity of the IDA portfolio. Therefore, as IDA deepens its support for poverty reduction and environmental sustainability,it shouldmake every effort to simplifyproject design and increasetechnical assistanceto improvethe administrativeand technical capacityof governmentagencies. 41. In view of the trends in portfolioperformance,Bank/IDAmanagementset up a task force in early 1992to study causes and proposeremedies. The task force has recommendedimportantchanges in the way the Associationsupports and monitors implementationof projects. IDA's management I Il __ - - - 16 - supports these recommendationsand views them as a roadmap for changes in many aspects of IDA's work. These changes will be aimed at giving increased attention to the implementationof ongoing projects and at achievingan appropriatebalance between implementationand the preparation of new operations. The Deputieswelcomedthe substanceof the task force's recommendations on improvingthe quality of project design and implementation subjectto review and approvalby the ExecutiveDirectors, and considered management's preparation of a detailed implementation plan based on the recommendations of the report to be fundamentalto achievingthis objective. This implementation plan will be prepared following the Executive Directors' discussionsof the task force report, which are expectedto be completedin early 1993. The first annual reporton the Tenth Replenishment will include a summaryof the plan and progressto date on its implementation. 42. The Deputieswere pleasedthat IDA's countryassistancestrategiesare taking greater account of each borrower's project implementation performance. Country portfolio reviews are to be conductedannually and will be directly linked to countrystrategy papers and lending allocations. The Deputieswelcomedmanagement'sassurancethat the annualportfolio review will have a countryfocus. They agreed with the decision of the ExecutiveDirectors that a brief appraisal of country portfolio performance, includingquantitativeindicators,be incorporatedin each countryassistancestrategyto be presentedto the Board, accordingto the schedulealready agreed upon. 43. The Deputieswere concernedwith the needto improve borrowers'sense of ownership of projects. To improvethe quality of projects entering the portfolio, IDA will seek to have borrowers take the leadership role and to involve project agencies more fully, as their capacities allow. The Deputies underscoredthe importanceof involvingbeneficiariesand affected population groups in project design and implementation to ensure the project's success,or providingan explanation,in cases where such involvementis not needed. They noted that IDA has in place guidelines to ensure the involvementof beneficiariesand affectedgroups in appropriateIDA lendingand requestedthat these be reviewed and strengthened as needed. Non-governmentalorganizations can make an important contributionto the preparation and implementationof projects and are a valuable source of technical expertise. The environmentalassessmentprocess and the scope it provides for broad public discussion of project impacts also contributeto borrower involvement. It has proven particularlydifficultfor IDA supportedprojects to meet the needs of populationswho are being resettled,and the Deputiesnoted that IDA's managementwould present an analysisof the experiencewith resettlementand recommendsteps that need to be taken, for considerationby the ExecutiveDirectors. - 17 - 44. While recognizingthat responsibilityfor project implementation rests with the borrower, the Deputies endorsed IDA's plans to improvethe quality of projects at entry and monitoring and supervision of projects. They urged that the design of projectstake full accountof the implementation capacityof the agenciesinvolved. They agreedthat greater use be made of detailedimplementation plans that set out responsibilities,schedulesand output indicators against which progress can be objectively monitored. They thoughtthat IDA's plans for early and more realisticassessmentof project risks, more project implementation reviews and greater flexibilityin restructuringoperationswere importanttools for improving implementation. They emphasizedthat the staff incentivesshould give proper weight to monitoringand supervision. They also underscoredthe need to analyzeprogress in new project areas well before project completion,in order to benefit from project experience in a timely fashion. They noted that IDA is analyzingthe skill mix and deploymentof professionalstaff, and they stressed the importanceof ensuring constantreview to meet the changingtypes of projectsbeing undertaken. They also noted that the professionalpanelsthat IDA had establishedto help recruit and assignstaff couldplay a useful role in this regard. The Deputieswere of the view that IDA's residentmissions shouldplay an enhancedrole in monitoringproject implementation and in helpingassess the capabilitiesand weaknesses of borrowers' implementingagencies. Therefore, they urged IDA's managementto review, for the ExecutiveDirectors, how resident missionscouldeffectivelyplay this role, including assessmentof the scope of their responsibilities. 45. The Deputieshave been concernedaboutthe high level of undisbursed credit balances. They noted, though, that the bulk of disbursementsare made in the five years following project effectiveness,as is appropriate. Only negligibleamountsremain undisbursedin IDA credits approved before 1984. Moreover, the ratio of undisbursedbalancesto total commitments has remainedstable over the past ten years. In some countriesand projects, however, excessiveundisbursedbalances do result from prolongeddelaysor inadequaciesin project implementation.In those cases, the Deputiesasked that IDA more systematically encourageborrowersto restructureor cancelpoorly performingprojects. Such restructuringor cancellationis of special importancein the courseof adjustmentwhere publicexpenditure programs must often be limitedto a core of high priority investments. IDA's policy is to return canceled amountsto the general pool for redistribution. Wherecredit amountsin IDA-onlycountriesare canceled, IDA is able to support improvementsin country performance during the adjustmentprocess through increasingthe current allocation. In the case of blend countries,however, because of the constraintson allocation (see para. 56), this is only possible to a limitedextent. The Deputiestherefore agreed that funds canceledfrom projects in a blend countrycouldremain availablefor suitablenew operationsin the country subjectto the approvalof the ExecutiveDirectorsand to satisfactorycountryperformance. X -r - 18 - 46. The Deputiesstressed the need for a greater focus on the developmentimpact in project preparation, implementation,and evaluation. Importanttools include identification of critical factorsor benchmarksof successidentifiedduring preparationand includedin appraisalreports; monitoringof key performance indicators during implementationand reported in the implementation reviews; and identificationof the developmentimpact in project completion reports and assessment in evaluation reports. Becauseof the importanceof promotingthe sustainability of projectsafter completion,the Deputies welcomed management'splans for enhanced evaluationsof completedprojects, redesigned reportingprocedures, and more impact evaluationsand beneficiaryanalysis. 47. The Deputiesalso endorsedIDA's intentionto help focus governmentattentionon, and provide increasingsupport for, institutionaldevelopment. They stressed that capacitybuildingis key to the effective implementationof projects and the sustainabilityof the overall developmenteffort, althoughthey recognizedthat there are no rapid or easy approachesto this inherentlydifficultarea. The Deputies noted two important new initiatives in this regard. First, the newly created Institutional DevelopmentFund is providinggrant fundingfor strengtheningcapabilityfor public policy and program management. Second, the plannedchangesin project processingproceduresare intendedto tailor project design and complexityto institutionalcapacity,but also to upgradethat capacityto handle more complex approaches. The possibilityfor other initiativesshould be vigorouslypursued. D. Donor Coordination 48. The Deputiesattachparticular importanceto the role that IDA plays in coordinatingthe efforts of donors in specific regions, countriesand sectors. These efforts have helped to improve the overall effectivenessof aid and to developa commonview amongdonorsof priority development needs. Given the constantreal level of official developmentassistance,there is an even greater premium on the efficientuse of such resourcesand the Deputieslook to IDA's leadership in this regard. IDA plays this role both in individualrecipientcountries--throughthe ConsultativeGroups which it chairs and through local coordinationby the residentrepresentativeand visitingmissions--andat the regionallevel--through programs such as the SPA which ensuresthat adjustmentsupportfrom manydonors for Africancountries is adequateand timely. In addition,the Bank Group takes the lead in organizingmanyprograms at the global level, such as the Consultative Group on International Agricultural Research, the Global EnvironmentFacility, the Energy Sector ManagementAssistanceProgramme, etc. and managestrust funds on behalf of the countriessupportingthese programs. - 19 - 49. The Deputiesnoted other areas in which IDA was pursuing donor coordination. Good cooperation of the World Bank with the African, Asian, Caribbean, European and Inter-American Development Banks is maintained through regular high-level consultations as well as continuous coordination in the implementationof country assistance programs. Cofinancing is an extremely important instrument for aid coordination. In addition to its traditional cofinancingoperations with bilateral and multilateraldonors, the Bank Group assistsdevelopingcountriesto mobilizefundsfrom the private sector and export credit agencies. While the Deputies recognized that this would only be applicableto a small numberof IDA countriesthey urged that this be done wherever possible. 50. The Deputiescommended thesevariouscoordinationeffortsbut were of the view that still more couldbe done. They felt that stronger coordinationwith bilateral aid agenciesshouldbe promoted. At the local level too, whilevisiting missionsmade efforts to contactother donors, more couldbe done by IDA's Resident Representativesto ensure that donors were kept informed between missions. The coordinationwith the UN system was also an area which the Deputiesfelt needed review. IDA should make more effectiveuse of the skills and experienceavailablein the UN system in support of its country programs, especiallyin humanresource and institutionaldevelopment. Cooperationwith the new UN Commission on Sustainable Development in pursuit of the objectives of Agenda 21 was also recommended. IDA should also draw on the work of the committees of the OECD in identifying priorities for aid coordination,and explorewhether it couldsupplementexistingregional approachesin the Caribbeanand Central America. TheDeputiesrequestedthat IDA's management report any newIDA activities in aid coordinationin the reviews of IDA10 implementationand welcomedthe inclusionof donor coordinationactivitiesin the countryassistancestrategies. - 20 - m. The Tenth Replenishment 51. The Deputiesproposedthat IDAIObe replenishedat the level of SDR 13 billion. The Deputiesregard a replenishmentof this size as being one which will allow IDA to achievesubstantially its objectives for the IDAIO period. The size of the proposed replenishment reflects Deputies' recognitionthat IDA recipientswill face additionalfinancialrequirementsassociatedwith the costs of nationalenvironmental programs. IDA has takenon the responsibilityto be a major financingmechanism for national environmentalprograms as a response to Agenda 21. Deputies expect that the increased requirementsof these programs will also be taken into account in future IDA replenishments. 52. There was recognitionthat this level of replenishmentwill not enable IDA to meet the full increase in demandwhichhas takenplace during the IDA9 periodfrom new claimants. The Deputies were concerned that constrained resources could mean lower per capita allocations for some of the traditional IDA-only recipientsand only partial fundingof the programs of the new claimants. In the circumstances they calledon IDA's managementand ExecutiveDirectorsto do their utmostto ensure that resources are used efficiently. They also notedthat it is management'sintentionto recommendthat high priority be givento transfers to IDA out of IBRD's availablenet income, withincurrent IBRD policy on the annualallocationof net income, and urged that IBRD's ExecutiveDirectors continueto recommend such transfers to the Board of Governors. 53. The Deputies reviewedIDA's three allocationcriteria: per capita income, performance and creditworthiness,with a view to identifyinghow these might be applied in the context of resource constraints. The Deputiesconsideredlimitingthe eligibilityfor IDA fundingby loweringthe operational cut-off of per capita income. There was concern, however, that this approach might leave some countrieswith limited creditworthinesswithoutany access to support from the Bank Group. For this reason the Deputiesproposed to leave the operationalcut-offat the same real level as in IDA9 and to maintain the exceptions to this income level provided in IDA9 for small island economies and for temporary assistance to IDA-eligible adjusting countries which have per capita incomes above the operationalcut-off, but are not creditworthyfor IBRD lending. 54. The Deputies stressed the need to apply performancecriteria in a transparent and consistentmanneracross regions and countriesreflectingthe applicationof soundeconomicpolicies, the implementationof environmentally responsibleprograms, commitmentto poverty reduction, and those aspectsof governanceand public expenditureallocationswhich were of relevanceto development. They noted, however, that the steps alreadytaken in IDA9 to limitpoor performingcountriesto core programs - 21 - meant that there was limited scope for reallocationsaway from better performing IDA-only countries withoutrisking underfundingof programs. 55. The Deputies were of the view that given the potentially heavy demand for IDA resources, it would be necessaryin IDA10 to give greater weightto creditworthinessconsiderationsin allocationsto blend IBRD/IDA recipients. They noted that some of these countries have substantial access to other external capital flows such as foreign direct investment, official export credits, and commercialbank financing. There is a positive correlationbetween such access and overall economic performance, and giving greater weight to accessto other sources of capital should not be construedas lack of appreciationfor good economicmanagement.However, IDA's resources are very scarce and are best used in those countriesthat are still in the process of establishingtheir creditworthinessrather than in those that have already done so. 56. In view of this, the Deputiesasked that IDA reduce its allocationsto more creditworthy countries by hardening the IBRD/IDA blend that it provides to these countries. This should permit allocationsto be increasedfor IDA-onlycountriesand to be maintainedfor the less creditworthyblends. In IDA9 the blends are projected to receive over 40 percent of total IDA allocations. In IDA10 the Deputies agreed that the allocation to blend borrowers, including relending of canceled amounts (para. 45), be managedwithin a range of 30 to 35 percent. This will enable IDA to devote the bulk of its resources to the IDA-onlycountrieswhich, for the most part, have no alternativesource of funding other than officialdevelopmentassistance. At the sametime, the Deputiesrecognizedthat there are very large numbers of poor persons in the blend countries. In order for them to receive maximumbenefits from IDA funding, the Deputiesrecommended that IDA's assistanceto the blend borrowersbe directed primarilyto poverty-focusedactivitiesor those that promote environmentalsustainability. 57. In IDA9 it was agreed that between 45 and 50 percent of IDA9 resources should be allocatedto Sub-SaharanAfrica,subjectto performance. The Deputiesagreed that this shouldalso apply to IDA10, assumingperformance continues to warrant it. They noted, however, that the proposed allocationbetween IDA-only and blend borrowers has implicationsfor the regional allocation of IDA resources becausethree of the large blendborrowersare in Asia (China,India, and Pakistan). There was concern amongsome Deputiesthat a reductionin the allocationto blends might unduly lower the overall share of funding to Asia. The Deputies recognizedthat there are strong arguments for maintaining allocationsto the Asia region. First, major new claimson IDA resources in the IDAIOperiod are likely to be concentratedin Asia. Second, it is the home of the largest numberof the world's poorest people. Third, there are urgent environmentalproblems in the Asia region. It is therefore the Deputies' - 22 - expectationthat any resources reallocatedfrom blend recipientswill be used to the maximum extent feasible in the Asian continent subject to performance. In IDA9 approximateparity was maintained between allocationsto Sub-SaharanAfrica and Asia. The Deputiesagreed that IDA should follow this approachfor IDA10, while also maintainingits support for borrowers in other regions as warrantedby their performance. 58. The agreed donor contributionsto the replenishmentare shown in Table 1. In addition to their basic contributions,the following donors provided supplementarycontributions: Australia, Denmark,France, Ireland,Japan, Korea, Luxembourg,Mexico,The Netherlands,Portugal, Sweden,and Switzerland. The Deputieshave notedthat thesesupplementary contributionsare made on an exceptional basis for IDAIO and should not be regarded as part of the burden sharing in discussionson the next replenishment. 59. To increasethe resources availableduring IDAIO, the Deputiesalso agreed to shorten the draw-downperiod of the contributions(para. 69). The Deputiesnotedthat this changeprovidesIDA with greater protectionagainstcashflow difficulties. Therefore,they also agreedthat part of the liquidity that IDA has been maintainingshouldbe madeavailablefor additionallendingduring the IDA10 period. As in previous replenishments,there remainsa small unallocatedgap which it is hoped can be reduced or eliminatedthrough additionalspecial contributions. 60. TheDeputiesparticularlywelcomedthe effortsof a numberof developingcountrydonors to increase substantiallytheir participationin IDA10. They also welcomedPortugalas a new donor. I ,I - 23 - Ta 1 CONTUZBUIION8 TO TI TI1MM REPI=SlMWE T (Amon i) J a ToWl Basic CoDb i CCeon Conat SDR Sbhre SDR SDR CumYcy Mebren A -nA S Amotnt A-mt A/ -1I - -2- -3- .4- -5- Aualie 189.80 1.46 2.24 192.04 350.00 Ausis 117.00 0.90 117.00 1,855.46 g/ Belg'im 201.50 1.55 201.50 9,345.43 Brazil b/ 10.00 0.08 10.00 CAnaa 519.91 4.00 519.91 858.00 iU Czech RepuWblic b/fl 10.00 0.08 10.00 Demark 169.00 1.30 11.47 180.47 1,573.05 Finland 130.00 1.00 130.00 798.37 Prnce c 912.94 7.02 36.06 949.00 7,222.93 Gemany 1,430.00 1l.00 1,430.00 3,m.08 g/ Gheece 6.80 0.05 6.80 1,807.23 H-ngay b/ 10.00 0.08 10.00 Iceland 3.90 0.03 3.90 316.07 Ielad 14.30 0.11 1.10 15.40 13.00 Italy 689.00 3/ 5.30 619.00 1,124,000.00 Ja1 2,431.00 * 18.70 169.00 2,600.00 471,509.74 Kor 30.00 0.23 6.58 36.58 39,442.25 Kuwait 18.0 0.14 1.08 7.33 h/ Luxibousa 6.50 0.05 0.50 7.00 324.66 Mexico b/ 25.00 0.19 10.00 35.00 NetberlandH 429.00 3.30 27.00 456.00 1,156.51 g/ New 7-eA 14.94 0.11 14.94 38.09 Norway 184.60 1.42 184.60 1,627.23 Poland b/ 4.50 0.03 4.50 Portugal 15.00 0.12 0.50 15.50 2,952.02 iU Rusmab/ 50.00 0.38 50.00 i/ Saudi Arbia 108.47 0.83 108.47 563.62 hb i/ South Africa 10.00 0.0 10.00 Spain 104.00 0.80 104.00 14,736.52 Sweden 340.60 2.62 7.40 34S.00 2,833.97 Switzerland 226.20 1.74 3.80 230.00 473.46 Tudcey bi 25.00 0.19 25.00 United Kingdo 799.1S 6.15 799.1G 620.00 United Stat 2,711.69 20.86 2,711.69 3,750.00 Sub Totel 11,947.90 91.91 275.65 Change in Eacashmet d/ 395.68 3.04 Chane in Liquidity Policy e/ 200.00 1.54 Supplenntay Con ebion 275.65 2.12 Unalocaed 180.76 1.39 Toal 13,000.00 100.00 a/ Calculad by conveei the SDR imin in cohlu (4) to atial currencies useig averngeof daily exchage rPc for the period Mach 1 992 to Jue 30, 192. bl Contributions of maher with rta of inflao grew tdan 15% per the 1989-91paiod ae denomiaed in SDRa. duried cl The bhic national eumcy contribui of France s equivalkt to a 7.3 perent ahare of SDR 13 biln uaing May-October exchange rae. d/ Reflect addial reouia available to IDA as a ra* of cathg contiutonan an 8-year shedule rther thn a 10-year period. Contibutiona of Audralia ad the United Kingdom will be eahed ove a 10-year period. The particpaio of ItAlyad Canada isabove as pat of deir base contributon. e/ The chane in e_abont wchedu will emble IDA to lovwer its 1iqudity reirtn by SDR 200 million which will be commied in IDA 10. fi On Januaty 1, 1993, the former Czech and Slvalk Federl Republicwu sacceded by the Czech Repubic and the Slovak Rqniulic. g/ Thee counia have i ted that thdir unit of denomio will be the SDR. hi These coumtr have indiad that their unit of d _noumian will be the US dolear. iU These coumriuaare oat yet in a poato to comm to a final contribution to IDA1O. The evea sore therefore idtive. j/ This amouit it the SDR equaveit of Lit. 1,169,390.71 million, i.e., an IDA1Ocohlhutiof LjL 1,124,000 miion ad Lit. 45,390.71 m tlaui fom amaeing the IDAIO combtion on ain 8year bel rer thba a 10-year period. I ~TI - 24 - IV. IDA10 Implementation Arrangements 61. IDA's implementation proceduresare well establishedand haveproven to meet the needs of both donors and the Association. Indeed IDA's procedures are the model on which most other concessionalfunding replenishmentsare based. The IDAIO Deputiesdiscussedthe proceduresbriefly and consideredpossible adjustmentsin some areas. In general they stressed the importanceof IDA's operating in a cost-efficientmanner and the need to keep the Association's costs under constantreview. They also expressedthe need to minimizethe weightof cash managementfor donors. Therefore, they suggestedthat some aspectsof IDA's financialmanagementshouldbe examinedexpeditiously during the IDAIOperiod, such as administrativecosts, the appropriateencashmentbasis for transfers to IDA from IBRD net income, and IDA's liquiditysituation. While they recognizedthat IDA's administrative costs are determinedby a cost sharing arrangementbetweenthe IBRDand IDA, they welcomedmanagement's intentionto review the arrangementin time for the FY94 budgetsubmission. Effectiveness and Advance Contribution Scheme 62. of a replenishment Traditionally,the effectiveness has occurredwhen the Association has receivednotifications of participationfrom a sufficientnumberof donor countriesthat theywould support the replenishment with the amountpledgedduring negotiations.This 'trigger" point has been set at 80% of the total replenishmentcontributionsprovidedby IDA donor members. This means, in essence,that the replenishmentscannotbecome effectivewithoutthe US notification. 1/ 63. target for the replenishmentof SDR 9,196 millionwas met For IDA9, the effectiveness on January 23, 1991--about7 months after the start of the period covered by the replenishment. Prior to this date, commitmentauthoritywas providedby the IDA9 advancecontributionschemewhichbecame period. effectiveon July 19, 1990, shortly after the start of the commitment 64. provisionsand recommended The Deputiesreviewedthe effectiveness thatIDA 10become effective, as for past replenishments,when 80% of total contributions have been received by the Association. Since effectivenesshas usually not occurred until 6 to 8 months into the replenishment 1/ Funds to meet the US commitment to IDA are voted annuallyby Congressas part of the Budget. Therefore, the US participatesin IDA replenishments by depositinga QualifiedInstrumentof Commitmentbecause it can only make its annual commitment to IDA once appropriationsauthorityhas been enactedby Congress. Canada will also provide a QualifiedInstrumentof Commitment. - 25 - period, because of delays in obtaining legislative approval, the Deputies also recommendedthat an advancecontributionscheme--similarto the one for IDA9--be put in place for IDAIO. Thus, the IDA10 advance contributionschemewould become effectiveupon receipt of notificationsby donors accounting for 20 percent of total contributions. Commitment Authority 65. Donorcontributionshavebeenmade availableto IDA for commitment authoritypurposes in three equal annual tranches. However, since the United States' practice is to deposit a Qualified Instrumentof Commitmentto IDA, its paymentsare subjectto annual legislativeapprovals. In view of the uncertaintiesattachedto the U.S. legislativescheduleand the possibilityof delays in receivingthe US commitment,pro-rata releasearrangements havebeen incorporated intothe replenishmentagreements since IDA5. Under these provisions, other donors may exercise the right to reduce IDA's ability to commitagainstthe second and third tranchesof their authorized subscriptionsand contributionson a pro- rata basis proportionateto any US shortfall. 66. For IDA10, The Deputiesproposeda continuationof the pro rata arrangementsagreed to for IDA9. In cases of delays or shortfalls in the US tranche deposits, the Associationwould notify other donors. If a donor countrywere not to provide the Association written notice of its intentionto adhere to the pro rata provisionswithin 30 days of such notice, its pro rata rights would be deemed to have been waivedand the correspondinginstallmentof that donor's contributionwouldbe consideredto be fully availablefor commitmentauthority. In the past where delays have occurred, most donors have waivedthis right in order to provide IDA with sufficientcommitment authority and avoid interruptions to the commitmentof creditsto borrowers. 67. For IDA9, it was agreed that resources from IDA reflows (repayments on past IDA credits, investment income and cancellations)could be used to temporarily bridge any delays in commitmentauthority. This bridge would similarlybe applied to IDA10 to provide IDA commitment authorityprior to (a) the effectiveness of the IDA10 advancecontributionscheme;or (b) betweentranche releases. As donor resources become available, they would first be applied to cover commitments temporarilyfinancedby these reflows. - 26 - Valuation of Donor Contributions 68. As regards the denominationof IDA10 contributions,it was agreed to provide donors with the flexibilityof denominatingtheir contributionsin their respectivenationalcurrencies, SDRs, or, with the approvalof the Association,in the freely convertiblecurrencyof another member. Donors with domestic rates of annual inflationof 15% or higher during the 1989-91period are to denominatetheir contributions in SDRs, as was the case for IDA9. This will help ensure that the value of their contributionsis not eroded over time. Payment of Subscriptions and Contributions 69. DonorContributions:Thepaymentarrangements for earlierreplenishments haveproved satisfactoryand have provideddonors with a considerabledegree of flexibilityin phasing the payment of their contributions to the Association. The Deputies recommended that the subscription and contributionpayment arrangementsfor donor memberscontinueas at present. Donors' contributionsare to be drawn down in equal proportions in terms of their unit of denominationover an eight-yearperiod as shown in the IDA10 Resolution. IDA's managementwill consultwith donorsthat have difficultywith this encashmentschedule, with a view to its flexibleapplicationto meet the needs of these donors; the encashmentswill in any case be completedin ten years. 70. Subscriptions of Non-ContributingMembers: IDA has followed the practice of collecting subscriptionpayments from non-contributingmembers in the same manner as for donor contributions, generally, in equal installments over a three-year period. In order to ease the administrative burden for both the countryconcernedand IDA, the Deputiesrecommended that, starting with IDAIO, subscriptionpaymentsof non-contributing membersbe fullypaid in one installment. Given the relatively small size of the subscriptionamountsinvolved, it is expectedthat this new procedure would not cause an undue financialburden for the countriesconcerned. As at present, subscriptionsin IDA10 would be made in local currency, either in cash or through note deposits. Voting Rights 71. The Deputiesrecommendedthat the present voting rights system continuefor IDA10. - 27 - Reviewsof IDA Implementation 72. The Deputiesrecommended that the ExecutiveDirectorsreviewthe progressmade in the implementation of IDAIO. They proposed that such reviewsbe undertaken annually. They noted the the regular reporting to the Executive Directors on adjustment lending, poverty reduction and environment. The reviews of IDA implementation should be designedto complementthese and should remain limited in scope. The areas of program effectivenessand beneficiary impact, while obviously the critical, were best left to these other reports. The Deputies identified a number of areas which reviews should focus on. First, the reports should reviewthe progressin embodyingthe key objectives into IDAIO lending programs. The experience with poverty and environmental assessments, and problemsencountered,is of particularinterest, as is the extent to whichEAPs are beinggiven effectboth set by IDA and its borrowers in the courseof ongoing developmentefforts. Second,the reviews should of out the steps taken to enhance IDAIO implementation. This should encompass the treatment governance issues in the policy dialogue and the analysis of public expenditures, including non- developmentexpenditures. It should also cover IDA's increased support for better project design and of implementationwith a view to improving overall project quality, and the preliminary indications aid whether these steps are proving effective. Third, the reviews should discuss IDA's role in coordination. Recommendation 73. The Executive Directors recommend that the Board of Governors adopt the draft Resolutionannexedto this Report. - 28 - ANNEX A DOCUMENTSPREPAREDFOR THE IDA10 REPLENISHMENT DiscussionPapers: 1. AchievingDevelopmentObjectives(January 1992) 2. IDA AllocationsRevisited(January 1992) 3. IDA'S Role in DevelopmentAssistance(April 1992) 4. SupplementingIDA Resources(April 1992) 5. The Program Implicationsof the Size of IDAIO (June 1992) 6. IDA10 Burden Sharing (June 1992) 7. Draft IDA10 Report (August 1992) 8. RevisedDraft IDAIOReport (October1992) 9. Second Revision- Draft IDA10 Report (November1992) TechnicalNotes: 1. The Real Value of IDA9 (November1991) 2. Status of EnvironmentalActionPlans and Assessments(January 1992) 3. Developmentand The Environment:IntegratingProgramsand Funding (March 1992) 4. The Environmentin IDA's Operations(April 1992) 5. StrengtheningInstitutionalCapacity(April 1992) 6. AssistingWomen in DevelopingCountries(April 1992) 7. IDA's AdministrativeCosts (April 1992) 8. ImprovingProject Implementation(April 1992) 9. SustainingAdjustmentPrograms (April 1992) 10. IDA's UndisbursedBalances(April 1992) 11. Access of IDA Countriesto ExternalFinancing(June 1992) 12. Improvingthe Coordinationof Aid (June 1992) 13. AlternativeMethodologyfor Encashmentsof Donor Contributionsto IDA (November1992) 14. How IDA WouldUse AdditionalResources (November1992) DiscussionNote 1. IDAIO Size and Burdensharing(November1992) Attachment II - 29 - ANNEX B INTERNATIONAL DEVELOPMENT ASSOCIATION BOARD OF GOVERNORS (Draft) Resolution No. - ADDITIONS TO RESOURCES: TENTH REPLENISHMENT _~~~~ I - 30 - INTERNATIONAL DEVELOPMENTASSOCIATION (Draft) Resolution No. Additionsto Resources:Tenth Replenishment WHEREAS: (A) The Executive Directors of the International Development Association ("the Association")have consideredthe prospectivefinancialrequirements of the Associationand have concludedthat additionalresources shouldbe made available to the Associationfor new credit commitmentsfor the period from July 1, 1993 to June 30, 1996 in the amountsand on the basis set out in the Report of the ExecutiveDirectors (the "Report") approvedon January 12, 1993 and submittedto the Board of Governors; (B) The membersof the Associationconsiderthat an increase in the resourcesof the Associationis requiredand intend to request their legislatures, where necessary, to authorizeand approve the allocation of additionalresources to the Association in the amounts and on the conditions set out in this Resolution; (C) Members of the Association that contribute resources to the Association in additionto their subscriptions("contributingmembers")as part of the replenishmentauthorized by this Resolution("the Tenth Replenishment") are to make availabletheir contributionspursuant to the Articles of Agreement of the Association ("the Articles") partly in the form of T-- - 31 - subscriptionscarrying voting rights and partly in the form of contributionsnot carrying voting rights ("subscriptionsand contributions"); (D) Additional subscriptions are authorized for contributing members in this Resolution on the basis of their agreement with respect to their preemptive rights under Article III, Section l(c) of the Articles, and provision is made for the other members of the Association("subscribingmembers")intendingto exercise their rightspursuant to that provision to do so; and (E) It is desirable to provide for the possible need for a portion of resources to be contributed by membersto be paid to the Associationas advance contributions; NOW THEREFORE THE BOARD OF GOVERNORS HEREBY ACCEPTSthe Report, ADOPTS its conclusionsand recommendationsAND RESOLVESTHAT a general increase in subscriptionsof the Associationis authorizedon the following terms and conditions: 1. Authorization of Subscriptions and Contributions. (a) The Associationis authorizedto accept additionalresources from each contributing member in the amount specified for each such member in Table 1 attached to this Resolution, and such amount shall be divided into a subscription carrying voting I_ _ _ _ _ _ _ _ _ I - - 32 - rights and a contribution not carrying voting rights as specifiedin Table 2 attached to this Resolution. (b) The Associationis authorizedto acceptadditionalsubscriptionsfrom each subscribing member of the Associationin the amountspecifiedfor each such member in Table 2. -2. Agreement to Pay. (a) When a contributing member agrees to pay its subscriptionand contribution,or a subscribing member agrees to pay its subscription, it shall deposit with the Associationan instrumentof commitmentsubstantiallyin the form set out in Annex I to this Resolution("Instrumentof Commitment"). (b) When a contributingmemberagrees to pay a part of its subscriptionand contribution without qualificationand the remainderis subject to enactment by its legislatureof the necessary legislation, it shall deposit a qualified instrumentof commitmentin a form acceptable to the Association("QualifiedInstrument of Commitment");such member undertakesto exercise its best efforts to obtain legislative approval for the full amount of its subscription and contribution by the payment dates set out in paragraph 3(b) of this Resolution. - 33 - 3. . Pament. subscription (a) Each subscribingmembershall pay to the Associationthe amount of its Commitment; in full within 30 days after the date of deposit of its Instrument of provided that: 31, (i) if the Tenth Replenishmentshall not have become effective by October 30 1993, the payment may be postponedby the member for not more than becomeseffective; and days after the date on whichthe Tenth Replenishment (ii) the Associationmay agree to the postponementof the payment for not more than one year. pay to the (b) Each contributingmemberthat agrees to do so withoutqualificationshall annual Association the amount of its subscriptionand contribution in three equal 30, 1995; installmentsby November30, 1993, November30, 1994, and November provided that: 31, (i) if the Tenth Replenishmentshall not have become effective by October 1993, paymentof the first such installmentmay be postponedby the member for not more than 30 days after the date on which the Tenth Replenishment becomes effective; - 34 - (ii) the Association may agree to the postponementof any installment, or part thereof, for not more than one year if the amount paid, together with any unused balanceof previouspaymentsby the member concerned, shall be at least equal to the amount estimatedby the Association to be required from that member, up to the due date of the next installment, for purposes of disbursementsfor credits committedunder the Tenth Replenishment; (iii) if any contributingmember shall deposit an Instrumentof Commitmentwith the Associationafter the datewhen the first installmentof the subscriptionand contributionis due, paymentof any installment,or part thereof, shall be made to the Associationwithin 30 days after the date of such deposit; and (iv) if a contributingmemberhas depositeda QualifiedInstrumentof Commitment and thereafter notifiesthe Associationthat an installment, or part thereof, is unqualifiedafter the date when it was due, then paymentof such installment, or part thereof, shall be made within 30 days after the date of such notification. 4. Mode of Payment. (a) Payments pursuant to this Resolutionshall be made, at the option of the member (i) in cash, on terms agreed between the member and the Associationthat shall be no - 35 - less favorableto the Associationthan paymentunder subparagraph(a) (ii) or, (ii) by the deposit of notes or similar obligationsissued by the governmentof the member or the depository designatedby such member, which shall be non-negotiable,non- interest bearing and payable at their par value on demand to the account of the Association. (b) The Associationwill encash the notes or similar obligationsof contributingmembers quarterly in equal proportionsin terms of their unit of denominationduring a period of eight years as shown in the encashment schedule set out in Annex II to this Resolution, provided that at the request of a contributing member the Association may agree to variationsin the encashmentschedulethat will not extendthe period for the member beyond ten years. (c) The provisions of Article IV, Section l(a) of the Articles shall apply to the use of a subscribingmember's currency paid to the Associationpursuant to this Resolution. 5. Currency of Denomination and Payment. (a) Members shall denominate the resources to be made available pursuant to this Resolution in SDRs, the currency of the member, or with the agreement of the Association in a freely convertible currency of another member, except that if a - 36 - contributing member's economy experienced,a rate of inflation in excess of fifteen percent per annum on average in the period 1989 to 1991, as determined by the Associationas of the date of adoption of this Resolution, its subscriptionand contributionshall be denominatedin SDRs. (b) Contributing members shall make paymentspursuant to this Resolutionin SDRs, a currency used for the valuationof the SDR, or with the agreementof the Association, in another freely convertiblecurrency, and the Associationmay freely exchange the amounts received as required for its operations. Subscribingmembers shall make payments in the currency of the member. (c) Each member shall maintain, in respect of its currency paid by it under this Resolution,and the currency of such memberderivedtherefromas principal, interest or other charges, the same convertibilityas existed on the effective date of this Resolution. 6. EffectiveCDate. (a) shall become effectiveand the resources to be contributed The Tenth Replenishment pursuantto this Resolutionshall become payableto the Associationon the date when and contributionsaggregate not less than contributing memberswhose subscriptions - 37 - of SDR 10,076 million shall have deposited with the Association Instruments Date"), Commitment or Qualified Instruments of Commitment (the 'Effective date as provided that this date shall be not later than October 31, 1993, or such later the ExecutiveDirectors of the Associationmay determine. to (b) If the Associationdeterminesthat:the availabilityof additionalresources pursuant a meeting this Resolutionis likely to be unduly delayed,'it shall convene promptly to be of the contributingmembersto review the situationand to consider the steps taken to prevent a suspensionof the Association'slending operations. 7. Advance Contributions. credits (a) In order to avoid an interruption in the Association's ability to commit shall pending the effectivenessof the Tenth Replenishment,and if the Association whose have received Instruments of Commitment from contributing members the subscriptions and contributions aggregate not less than SDR 2,519 million, of Associationmay deem, prior to the EffectiveDate, one-thirdof the total amount has been each subscriptionand contributionfor whichan Instrumentof Commitment deposited with the Associationas an advance contribution,unless the contributing member specifiesotherwise in its Instrumentof Commitment. - 38 - (b) The Association shall specify when advance contributions pursuant to subparagraph(a) are to be paid to the Association. (c) The terms and conditionsapplicable to contributionsto the Tenth Replenishment, except for paragraph 9 of this Resolution, shall apply also to advance contributions until the Effective Date, when such contributions shall be deemed to constitute payment towardsthe amountdue from each contributingmember for its subscription and contribution. (d) In the event that the Tenth Replenishmentshall not become effectiveby October 31, 1993, or such later date as the Associationmay determinepursuantto paragraph6(a) of this Resolution,(i) voting rights shall be allocatedto each member for the advance contribution as if it had been made as a subscriptionand contribution under this Resolution, (ii) each member not making an advance contribution shall have the opportunityto exerciseits pre-emptiverights with respect to such subscriptionas the Associationshall specify, and (iii) advance contributionsshall be taken into account in the next general replenishmentof the Association'sresources. 8. Authority. Commitment (a) Subscriptions and contributions shall become available for commitment by the Associationfor credits to eligible membersin three successivetranches of one-third - 39 - of the total amountof each such subscriptionand contribution: (i) the first tranche shall become available to the Association for commitment for credits from the Effective Date, provided that advance contributionsmay become available earlier under paragraph 7(a) of this Resolution;(ii) the second tranche from November 1, 1994 or the Effective Date, whichever is later; and (iii) the third tranche from November 1, 1995or the EffectiveDate, whicheveris later. (b) Any qualified part of a subscription and contribution notified under a Qualified by the Association Instrumentof Commitmentshallbecomeavailablefor commitment for credits when it has become unqualified. (c) The Associationshall promptly inform contributing membersif a member that has deposited a Qualified Instrument of Commitment and whose subscription and contribution representsmore that 20 percent of the total amount of the resources to be contributed pursuantto this Resolutionhas not unqualifiedat least 66 percent of the total amount of its subscriptionand contribution by November 30, 1994, or 30 days after the Effective Date, whichever is later, and the total amount thereof by November 30, 1995, or 30 days after the EffectiveDate, whichever is later. (d) Within 30 days of the dispatch of noticeby the Associationunder subparagraph(c), each other contributing member may notify the Association in writing that the commitment by the Association of the second or third tranche, whichever is I I_ .- I -40- applicable,of such member's subscriptionand contributionshall be deferred while, and to the extent that, any part of the subscriptionand contribution referred to in subparagraph(c) remains qualified; during such period, the Associationshall make no commitmentsfor credits in respect of the resources to which the notice pertains unless the right of the contributingmember is waived pursuantto subparagraph(e). (e) The right of a contributing member under subparagraph(d) may be waived in writing, and it shall be deemed waived if the Associationreceives no written notice pursuant to such subparagraphwithin the period specifiedtherein. (f) The President of the Associationshall consult with the contributingmemberswhere, in his judgment: (i) there is a substantiallikelihood that the total amount of the subscriptionand contributionreferred to in subparagraph(c) could not be committed to the Association without qualificationby June 30, 1996, or (ii) as a result of contributingmembersexercisingtheir rights under subparagraph(d), the Association is or may shortly be precluded from entering into new unconditional credit commitments. (g) The Association may enter into credits, conditional on such credits becoming effective and binding on the Association when resources under the Tenth Replenishmentbecome availablefor commitmentby the Association. -41 - 9. Allocation of Voting Rights. Voting rights calculatedon the basis of the current voting rights system shall be allocated to members for subscriptionsas follows: (a) Each subscribingmember whichhas depositedwith the Associationan Instrumentof Commitment shall be allocatedthe subscriptionvotes specifiedfor each such member in Table 2 on the effective payment date pursuant to paragraph 3(a) of this Resolution. (b) Each contributingmember which has deposited with the Associationan Instrument of Commitmentshall be allocated one-thirdof the subscriptionvotes specified for each such member in Table 2 on each effective payment date pursuant to paragraph 3(b) of this Resolution;provided that (i) any memberwhich depositssuch instrumentafter any of these dates shall be allocated, as of the date of such deposit, the subscription votes to which such member would have been entitled if such instrumenthad been depositedprior to the first of thesedates, and (ii) if the member fails to pay any amountof its subscriptionand contributionwhen due, the number of subscriptionvotes allocatedfrom time to time to such member under this Resolution shall be reduced in proportionto the shortfall in such payments, but any such votes shall be reallocated when the shortfall in payments causing such adjustment is subsequentlymade up. - 42 - (c) Each member which has deposited with the Associationa Qualified Instrument of Commitmentshall be allocated subscriptionvotes to the extent of paymentsmade in respect of its subscription and contribution, and each member exercising its right pursuant to paragraph 8(d) of this Resolution shall have the number of subscription votes allocated to it reduced in proportion to the amount of its subscription and contributionsubjectto deferral, but any such votes shall be reallocated to the extent that the deferral terminates. (d) Each member shall be allocated the additional membership votes specified in Columnsb-5 and c-3 of Table 2 for its subscriptionon the date such member is allocated the first one-thirdof its subscriptionvotes pursuant to this paragraph. - 43 - ANNEX I INTERNATIONAL DEVELOPMENT ASSOCIATION Additionsto Resources: Tenth Replenishment Reference is made to Resolution No. of the Board of Governors of the InternationalDevelopment Associationentitled "Additionsto Resources: Tenth Replenishment", which was adopted on , 1993 ("the Resolution"). The Governmentof HEREBYNOTIFIES the Association pursuant to paragraph 2 of the Resolutionthat it will make the _ _ _ authorizedfor it in accordancewith the terms of the Resolutionin the amount of 2v 3/ (Date) (Nameand Office) (a) Contributingmembersfill in the words 'subscriptionand contribution";and (b) subscribing membersfill in the word "subscription " only. 21 Pursuant to paragraph5(a) of the Tenth Repknishment Resolution, members are required to denominatetheirsubscriptionand contribution,or subscription only, as the case may be, in SDRs, in the currencyof the member, or with the agreementof the Associationin afreely convertibk currency of anothermember. Paymentshall be made as provided in paragraph5(b) of the Resolution. 31 7he instrumentis to be signedon behalf of the Government by a duly authorizedrepresentative. _:44 - ANNEX H INTERNATIONAL DEVELWDPMENT ASSOCIATION Scheduleof Encashments: Tenth Replenishment MA-10FY 1' SCHEDULE OF ENCASHMENTS (% of total 1994 3.07 1995 9.23 1996 15.31 1997 17.71 1998 16.30 1999 14.41 2000 12.87 2Q01 11.10 Total 100.00 cth 1/ In theew the TenthReplnishmens shaUbecome effediv fer June 30,1994. encashments Silsdiedu before he date of effctivenas wiU be added to the sdiedul normaly for the fiscal year in whiuc the Replenshmenm becoma esfeawve. - 45 - Table 1: CONfIUIMONS TO TMMl=U RIILDIISUMDIT &Wlmeatay TOWl Bak Caobudm C _Wm Coau*bua Nl Cmutlhqm SDR ,Se SPR SDR currny Manihe Aamm % AMC" Ai_u at I2- -1- -3 - *4- -5- Auutrala 189.80 1.46 2.24 192.04 350.00 Austrilt 117.00 0.90 117.00 1,SSS.46 / Bclgfni 201.50 1.55 201D0 9,345.43 Brea bl 10.00 0.08 10.00 Canada 519.91 4.00 519.91 15s.00 iU CizchR ubhfiWV 10.00 0.06 10.00 D_nak 169.00 1.30 11.47 180.47 1,573.06 Finland 130.00 1.00 130.00 796.37 Prac c/ 912.94 7.02 36.06 949.0O 7,222.93 Grany 1,430.00 11.00 1,430.00 3,222.06 SI areece 6.80 0.05 6.80 1,307.23 H-guy bl 10.00 0.06 10.00 Iceland 3.90 0.03 3.90 316.07 eland 14.30 0.11 1.10 15.40 13.00 Italy 689.00 V 5.30 689.00 1,124,000.0o Ja 2,431.00 18.70 169.00 2,600.00 471,509.74 KOM 30.00 0.23 6.58 36.58 39,442.25 Kuwait 18.06 0.14 11.06 733 W Luxcob-g 6.50 0.05 0.50 7.00 324.66 Muico bt 25.00 0.19 10.00 35.00 Netherlands 429.00 3.30 27.00 456.00 1,156.51 gi New Zealad 14.94 0.11 14.94 31.09 Noway 184.60 1.42 184.60 1,627.23 Polad W 4.50 0.03 4.50 Podugal 15.00 0.12 0.50 15.50 2,952.02 iURuaia bi 50.00 0.38 50.00 if Saudi Arabi 106.47 0.13 106.47 563.62 hi iU South Africa 10.00 0.06 10.00 Spain 104.00 0.80 104.00 14,736.52 Swed_ 340.60 2.62 7.40 348.00 2,833.97 Switznrhad 226.20 1.74 3.10 230.00 473.46 Tudney bi 25.00 0.19 25.00 Uni Iigdaa 7"9.18 6.15 799.18 620.00 United Stae 2,711.69 20.86 2,711.69 3,750.00 Stab Totl 11,947.90 91.91 275.65 Change in B df _mma 395.68 3.04 Chano as Liquidt Podly e/ 200.00 1.54 SupplanmatneyC _tiina 275.65 2.12 Unalcated 180.76 1.39 Totdl 13,000.00 1OD.00 a/ Calculatedby coven d SDR m th mvis _calmm (4) is nahionalc wing a aveng oddaib emchne ma for gm perind Mach 1, 19 toJm 30, 19. bl Con_idtima of d wA man of fatidm geg" 15% per snsa oft fw 19991 pel am danmmmaladin SDRs. c/ The bask satma caeny c erhwiom of Frac is equivalms to a 7.3 _. dwe of SDR 13 biion uaing My-Octobe ecwe mis. dt Reflect addial mseamas availableo IDA n a redk of a*_ahing contrlib as d- -year eale raber tgmaa 10IyeO peeiod. Cmirbutioma of Atuai sod X Unhdl K_igim wi be eceaabdwcr a 10-yr perid. Thepartici of hl* nd Canad ima m pat of tir heableb rbtia. e/ The hag is e_matub ehehl wil ah IDAto lawerhakBlqqiftmpq_kma by DER 200mii whichwillbe em_ed in IDAIO. f/ 01 Janay 1,1993, e re Cze ad Snk FeIdealRe ewaneceed bytl Cnch Republcad e SlkRepobdi. gi Then. cmi ta thir 'i of denominaton habeindicated will be th SDL hb Thea comatin bhwe hAiled dht ter vk of ddn wvilbe th US dola. if Thea coustieare nt yet a posifo to cinkto a fel coebbon to IDAIO. The nlb arothereor ind v. jf ThiaeainA in th IDR edvale of Lkt.1,169,390.71 mili, i.e.,an IDAIO econtribu of Li. 1,124,000 milim ad LiL45,390.71 milIhn remAking m aeing theIDAIO eontrded caas 8yea ahu athe ta a 10-e period. ADDITIONAL SUBSCRIPIlONS, CONTRIBUTIONSAND VOTES Table 2 Page I of 6 (Amount ian CurrentUSD Equivalet) Sub ja and Codributiona ThrmugbIDA9 at Subscriptiom ad Contributiooa AdditionalReaoure bh/ad Voit Under IDAIO Through IDAIO Contributiom Contributiona Additional Additionl Contribultion Caying Additiomal Additional Caniyg PartI ?denabe Subscription UMbeahip Canyang Sub.cdorip No Votea Resourca cl Subcriptiom No Votra Voe Vote Subecripiona No Vote (a-1) (a-2) (b-1) (b-2) (b-3) (b-4) (b-5) (d-l) (d-2) AUSTRAUA 27.339,761 1,283,373.312 265,580.000 404,566 265.175,434 16.183 AUSTRIA 7.179,905 4,400 27.744,327 1.548,548,746 475,461.551 168,200,000 282,058 167.917,942 BELGIUM 12,477,481 11,282 4.400 7,461.963 643,379,493 1,068,255,914 289,670,000 467,201 289,202,799 CANADA 18,688 4,400 12,944.682 1,357,458,713 53.555,550 3.231,204,215 718,980,000 1,114,842 DENMARK 717,S65,158 44,594 4,400 54,670,391 12,498,727 807,5S9,107 259,400,000 3,949.069,374 429,362 258,970,638 17,174 4,400 12,928,089 1,066,529,745 FINLAND 5,686,555 491,423,590 186,880,000 316.292 186,563,708 12,652 FRANCE 73,928,399 4,400 6,002.47 677,987,298 4,227,133,905 1,364,250,000 2.259.004 1,361,990,996 GERMANY 90,360 4,400 76.187.403 5,589,124,901 81,094,107 7,445,24,049 2,055,720,000 3,326.247 ICELAND 2,052,393,753 133,050 4,400 84,420,355 160,032 18,U43.460 5,610,000 9.497,917,801 9,192 5,600,808 368 4,400 169,225 IRELAND 3,929,777 75,790,364 24,444,267 22,140,000 35,923 22.104,077 1,437 4.400 3,965,700 97,894,441 ITALY 28.979,149 3,039,675.925 952.820.000 1,572,924 951,247,076 62,917 JAPAN 63,991,018 4.400 30.552.073 3.990,923,001 11,164,264,764 3,737,680,000 6.230,365 3.731,449,635 KUWAIT 249,215 4,400 70,221,383 14,895,714,399 5,444,558 650,325,456 25,990,000 358 LUXEMBOURG 25,989.642 14 4,400 5,444,915 528,645 32,507,547 10,060,000 676,315,099 16,560 10,043,440 662 4,400 NETHERLANDS 38,168,656 2,110,693,202 545,205 42,550,987 655,420,000 1,079,147 654.340,853 43,166 4,400 39,247,802 2,765,034,0S6 NEWZEALAND 161,044 81,805,916 21,470,000 34.490 21,435,510 1,380 NORWAY 9.954,825 4,400 195,534 103,241,426 81S,202,356 26S,380,000 440.287 264,939,713 RUSSIA 17,611 4,400 10,395,112 1,080,142.069 2,099,224 123,900.776 71,880,000 126,492 SOUTH AFRICA 71,753,508 5,060 4,400 2,225,716 12,293,184 74,700,324 195,654,284 14,380,000 20,713 14,359,287 829 SWEDEN 17.455,597 4,400 12,313,897 89,059,611 2,014,393,332 500,270,000 794,563 499,475,437 31,783 4,400 18,250,160 2,513,868,769 SWITZERLAND 10,516,896 620,751.104 330,640,000 578,013 330,061,982 23,121 UNITED ARAB EMIRATES 10,729 4,400 11,094,914 950,S13,086 5,189,119 0 0 0 UNITED IQNGDOM 0 0 10,729 5,189,119 171,957.920 5,567,352.169 1,105,180,000 1,662,371 UNITED STATES 1,103,517,629 66,495 4,400 173,620,291 430,411.976 17,514.495,066 3,898,240,000 6,670,869,798 6,034,511 3,892.205,489 241,380 4,400 436,446,487 21.406,700,555 SUB-TOTALPARTI 1,069,823,716 62,939,826,522 16,925.840.000 27,235,485 t6,898,604,515 1,089,419 101,200 1,097,059,201 79,838,431,037 a/ Assuming all members give (unqualified)formal notification under the Third, Fourth, Fifth, Sixth, Seventh, Eighthand Ninth Replenishments. These amounts have been calculated, for purposes of the voting rights adjustment among Part I Contributing Members, by multiplyingthe subscriptions and contributions up to and includingthe Third Replenishment(which were expressed in tcrmsof United States dollars of the weight and fineness in effect on January 1, 1960) by 1.20635 and adding thereto the dollar equivalents of the subscriptionsand contributions under the Fourth, Fifth, Sixth, Seventh, Eighth and Ninth Replenishments, as of September 27, 1973, March 14, 1977, October 5, 1979, January13, 1984, August 29, 1986 and October31, 1989, respectively. b/ Contributions to the Tenth Repilnishment are expressed in SDRs as set out in Table 1, column(4), of the Tenth ReplenishmentResolution. The U.S. dollar equivalenthas been obtained by converting the SDR amounts using an average of daily exchange rates for the U.S. dollar venus the SDR over the period March 1, 1992to June 30, 1992. Contributions arc divided into subscriptions carrying votes as shown in column (b-2) andcontributions carrying no votes as shown in column (b-3). c/ Includes, for all donors except Australiaand the United Kingdom, the calculated effective value of contributionsresulting from encashing contributions Table 2 Fap 2.f6 ADDITIONAL SUBSCRIPTIONS. CONTRIBUTIONS AND VOTES (AmeUle *i Cmuit USD EquivaleW) Addiiil Subscripitm. CoutlkiA and Vta u&derIDAIO Suibcriptio, Cailrioime for Racur i SDRa or Freely CibveIlb Chutney in RE. Subscripltions d Cdzrilmet and Contribuion Sbscrii and Voke Alincale Resumcs in Sucripti Tkm& IDAIO Fer Eagh of Pretmipw Ripi SDR or Frey of Subacriqipn for Exema of Pruptive Riubl Thnig IDA9 di Convertible Addimal Ctibiltions Add_iod C Contributio AUddilal Addhiorl AddiWI Cwrny frem Rmama Adddlijasl cariyig Sucdm Canyiog C-ng Si63en Subecriptio Mbeh Pa nII i Subscri No V.6. Ve.e So No V.6 Sucr No Vok. l Vote Voe Manlfber f PFdtUbeabe (- (c-6) (c.7) (c-) t-l) (d-2) (-I) (a-2) (c-I) (-2) (-3) (c-4) 1,430.922 0 1.4,n796 0 30,126 1.205 4,400 AFGHANIsrAN 326,552 0 319.595 0 6,957 278 4.400 ALBANIA 5.715,565 0 5,594.53 0 o 120.9 4,839 4,400 ALOURIA 5,950.1l0 a 8,70.656 0 189.525 7.531 4,400 ANGOLA 27,004,350 75,473,348 26.390.247 75.473.348 614.103 24,54 4,400 AROENnNA 7,631,749 0 7,470,109 0 161,649 6,466 4.400 BANGLADESH 2*3,44 0 m2.472 0 5,971 239 4.400 BrIE 709.467 0 694,446 0 15,022 601 4.400 BEMNN 730718 0 69.30N 0 1,483 59 4.400 BrUTAN 1,502.400 0 1,470.701 0 31,699 1,268 4,400 BOLIVIA 227,063 0 222,230 0 4,832 193 4.400 BOTSWANA 13,752.,43 25,995 13.726,248 1,040 27,113,224 115,423 39 101.697,082 627,757 25,110 4,400 14,338,000 BRAZIL 26,459,471 709,248 0 694,227 0 15,022 601 4,400 BURKINA FASO 1,077,958 o 0 22,798 912 4.400 WURUNDI 1,055.160 1,447.873 0 1,417.0U 0 30,735 1,231 4,400 CABSODIA 1,430,922 0 1,40.796 0 30,126 1,205 4,400 CAMEROON 113.W50 0 111,103 0 2,403 96 4,400 CAPE VERDE 709,24 0 694,227 0 15,022 60l 4,400 CENTRAL AFRICAN REP. 709,248 0 694,227 0 15,022 601 4,400 CHAD 5,00.727 0 4,901,549 0 106,178 4,247 4.40D CHIU 43,009,C55 0 42,066,395 0 923.460 36,938 4,400 CHINA 5,121449 29,095.715 4.996.596 29.095,715 124.352 4,994 4,400 COLOMBIA 113.sos 0 111.1003 0 2.405 96 4,400 COM OS 709,248 0 694,227 0 15,022 601 4,400 CONGO 283,319 0 277.431 0 5,89 236 4,400 COSTA RICA 1,430,922 0 1,400,796 0 30,126 1,205 4.400 COTE D'OIRE 1,077,55 0 1,055,160 0 22,798 912 4.400 CYMUS 26,968 14,239.737 1,079 5.226.3 22.521,254 8,281,517 1l3,295 4,532 4,400 14,380,000 14.266,705 CZCH REPUBLIC hi 5,0C6.620 7.063 0 m.230 0 4,832 193 4,400 DnBOun 113,50M 0 111.103 0 2,405 96 4,400 DOIANICA ADDITIONAL SUICRIPIi S, CODUIIJtNM AND VOTEIS Fa 3 f6 (Ama * C1ajuel U5D fqmkm Aimi Si_l aip , CG bbi sd d Vse m_dw IDAIO Sahecipfim. Cod&Aim. f.r uas Smwdpim md Ctbmd SsA=Vip adV V AIbed Rlisso in in SDIa or Free Cmnb OCwrocqI Ra _ m.ciim mad _ lMaw I D For EVse. d Prspev. RuO SDRlbor Frt SuuwrW s for E_n of ProemplRi11 ThUIA IDAIO coever"l Ca m Addimn Addc mal Adici Commey from C_oludMm Coob*siIm Can3ig Subsegip SAhroip M_b.* PadtIf Roose AddNmsl conyia SAb*im CcY*g Patt U Umbeo _ NOVoes a Va_e Vo. Micae fl S NOVeto Ve m Vse N (a-I) *(-2) (c-I) (-2) (c-3) (c-4) (c-5) (Wo (c-7) (@-4) (WI) (42) DOMINICAN REIPUBLIC 556,1U6 6.614 12.182 487 4,40D 568,370 68.614 BCUADOR 9266 0 19.547 732 4.40D 92,.412 0 BlMlv 7^01181 0 156,152 6.246 4.40 7.227041 0 EL SLVADOR 415,930 23.707 t.939 353 4.400 424.,77 23,707 BQUATORIAL GUINEA 444,333 0 9.657 386 4,400 453,99D 0 ETIHIOPIA 694.522 23.707 15,052 02 4.400 7G9,574 23.,07 Fix M,627 0 16.902 676 4,40 794,529 e GABlON 694.227 0 15,022 601 4.4DD 7D9,243 0 OAhMA, THE 30,722 0 ,046 322 4,400 373.769 0 GHANA 3.276,417 0 72.300 2,832 4,400 3.347.217 0 ORENCE 3,563.301 24.571,470 9,393 3.576 4,400 9,780,000 9.,f0,607 13,318 9,672.290 733 3,676.011 34,243,760 co aRENADA 124,267 0 2,562 102 4.40D 126.33D 0 GUATEMALA 555,532 0 12P05 433 4,4W 567,617 0 GUINEA 1.4DD.796 0 30,126 1,205 4,4D0 1,430,922 0 OJINEA-DISSAU 193.235 0 4,046 162 4,400 197.331 0 GUYANA 1,125,025 0 24,379 975 4.400 1,149,404 0 _HAMlu 1,055.160 0 22,798 912 4.400 1.077.953 0 HONDURAS 415.700 0 9,916 357 4,400 424,616 0 HUNGARY 10.445.237 25S94.713 235,239 9,412 4,400 14,3D0.000 14,144,711 26,737 14.117.974 3.069 10.707.313 40.012.617 INDIA4I 56,351,494 0 1.429.9D6 57,199 4,400 57,731,481 0 INDONEIA 15,411,771 0 333,573 13,343 4,40 15.745.343 0 lEP. OF IRAIN, ALAMC 6,3D4.036 0 136,453 5,459 4,400 6,440,490 0 IRAQ 1.055,160 0 22.798 932 4,40W 1,077.953 0 ISRAEL 2,340,521 934,2C0 52,01U 2.031 4.400 2,392.539 9364,2C JORDAN 415,700 0 8,916 357 4.400 424,616 0 KAZAXHITAN 2,125.271 0 46,165 1.U47 4,400 2.171,436 0 KENYA 2,332,424 0 50.422 2,017 4,400 2.332.,45 0 JGRISAT *3.229 0 1,791 72 4,400 85,020 0 KOREA 1,912.467 67,153,318 60,999 2,300 4,400 52,590.000 52.52D.0OD 99.276 52.420,725 3,971 2,081,742 119,574,543 KYROYZSTAN 555,513 0 12,050 4Q 4,40D 567,563 0 Tablo2 P.4d16 ADDMONALSUISCRlrlONS, CONIBUTIONS AND VOTES Ammb u ODm" USDEquiat) Ad&tndt Sub.cripi, Co*rNudo ain Vit. vade IDAIO Sub.c.sma. Cmlsbg for Rm _as imSDR..a Frly C.w_tbl Cmcmy i Exem &*uc,i6 towcmbkeim Cmb*lc.s Seic4im ad V.. AiCcaa Rama in IDAIO Susc_SRim dnD of S .dGow for E dic. ofPniptiw RiSW T_3rmh P.r ii. of Pretive 3igb SDhor Fto* T1rmk IDA9 dV Qa.mo Irem Addiwl Cd.,ikws AA*im Ccmubmil Addiimul Addkil Add id Caaivg pan11 Ru... AdtimAk caying Secuiptiw S S M _m 7 img Can f NoVia. VSa.- N. V_. NoV.. of Vai Von.v b4 en ft Pat Mmrbas (c) (c7 (- (41-) (d-3 (c-1) (- -3) (c-4) (C-S) (n-I) (n-t 709.243 0 LAO FM 604,227 0 i,2 g0l 4.400 809036 0 7l,3 a 17e36 do8 4,401) 639.047 0 IATVIA 4,400 62,3" a 13,651 5s6 227,063 0 tANON 193 4,408 222,230 a 4,832 I,077,0 0 LoTHO 4.40D 1.os,u10 a 22.7n 912 UDNLA 1.43,922 0 1400,766 0 3e,126 1,29 4.400 1,431.817 0 unSYA 4,400 1.43,692I 0 30,326 I,SH l,e.958 0 MADAGASCAR 912 4,400 MAW 1,05.10 0 22790 3,574.105 0 3.491,487 0 75.618 325 4,400 42,442 0 MUALYA 36 4.400 41.551 o 82 MM,DWI l,2)3,4t5 0 1,347430 0 2,050 1,042 4,400 14,22 0 MAL M3 12 4,400 MARSHALLISANDS 13,922 0 719,24= 0 04,2=7 0 I5s,2 601 4.400 1.22*17 3550 AUWAA 4,400 1.19507 3S,54o 25.30 1,4 3.71 12,767.107 13.Pt4930 M_uni 4,400 50,310,00D 50.002,37) 94517 49.927.759 12364,866 D,17,64 307,724 I32,0 326,552 0 319,595 0 6X.07 278 4.400 S,67.27 a MONOOUA 4,247 4.400 4,sx901,549 106.17e 1962580 0 Mi SOO 4A400 1.01,4 e 41.4 1,641 2.8,345 0 I IZAQU EQ 4.400 M' ANMAR 2,0.517 0 60.828 2,433 73.248 0 694,227 0 15s,42 401 4.400 N_ AL 424,616 0 415,700 0 8.916 357 4.400 70924 0 NICARAGUA 4,400 494,227 a Is,22 401 4.76555 NM 4,400 4.804,719 0 100,86 4,003 424,3n 23,07 NkIA 4.400 415,9)9 23.767 *.9"8 358 14,372679 its"33 OMAN 4.400 14,059.752 115,533 312.921 12,517 PAKISTAN 29,511 0 28,762 0 749 30 4A0 I,2,8l 0 PANAMA 4,40 1.194,928 0 25,953 1011 424,616 0 PA iUA MM GUINA 4.4W 415,700 0 8,916 357 2.510.7s a IPARAG^UAY 4,401 2,457,436 0 33,359 2,134 7.153,057 130,13 nIPEu 4,400 7,001,102 13,180 115,954 6.073 PiII?m Tabl 2 Pap 5 6 ADDITIONAL SUBSCRIP'IONS, CONTRIBIIONS AND VOTES (AN" in Curtent USD Evuie Addiinl Subsc,ipm. CoruilonIW andVoiceunder IDA 10 Subscriplit. Catrnlbudoe for Resoure Subscriko and C emUiim Subscrnpt and Voes AUllated ReS*UrK is in SDRf t reely Ceevatiibb Curmcy in Exec" &ubeeiim andCibuWik Thrugh IDAIO Fot Erce of Preemtive Ris SDRaor Frely of Subeeript for Ezerjcc of Prmptive Right 'faraT IDA9 di costve.libIo Con iuio AddiiouJl C buion. Additial Addtoal Curre"7 from Additinal C e4ributims Additiuna Cawyibg part 11 Resour_ Addai1onal Carying Subscipt Carying Subsrit Subcript bMeehi Sub r No V vat" Subs No Vote c t Vr Vates member, 1 j Pad lmb Subc_ No Voes (c-6) (c-7) (c-) (dW1) (d-2) (c-I) (c-2) (c-3) (c-4) (c-5) (a-i) (a-2) 10,468 5,527,540 419 43,733,135 23.902,053 931,992 37,2Y0 4,400 6,470.000 5,538,00 POLAND 42.330,676 18,374,512 22,146,376 1,673 4,328,428 22.146,376 3,647 4,420 22,240,000 22,118,819 41,942 4,195.304 0 91,181 1,077,951 0 PORTUGAL 1,055.160 0 22,798 912 4,4D0 0 RWANDA 184,375 1)0.471 0 3,903 156 4,40 0 ST. KIn'S & NEVIS 212,657 208,169 0 4,488 1tO 4,420 ST. LUCIA 99,252 0 97,154 0 2,098 84 4,400 0 ST. VINCENT 99.316 97,211 0 2,105 84 4,400 SAO TOIB& PRINCIPE 291,982 154,175,529 11,679 13,743,642 2.025,711.014 1,462,489 58,500 4,400 155,930,000 154,467,511 SAUDI ARABIA 11,9t9,171 1,371,535,485 2,382,3S 0 2,332,424 0 50,422 2,017 4,400 0 SNENE^AL 1,077,958 1,055,160 0 22,796 912 4,400 1ERRA LEO3NB 2.593,154 4,140,758 L 2,536,4Q7 4,140,75t 56,667 2,267 4,401 0 SLOVAICREPUBLIC h 126.830 124,267 0 2,562 102 4,400 0 SOU0MON ISLANDS 1.077,958 1,055.160 0 22,796 912 4,400 SOMAUA 281,672 148,731,613 11,267 15.784,523 453.285,946 496,715 19,389 4,420 149,510,00D 149.013,285 SPAIN 15,006,136 3Q4,554,333 4,297,727 0 4.206,781 0 90,946 3,638 4.400 SRI LANKA 1,430,922 0 1,400,796 0 30,126 1,205 4,400 0 SUDAN 454,126 444,461 0 9,665 387 4,400 0 SWAZILAND 1.346,774 1,318,342 0 28,432 1,137 4,400 0 SYRIAN ARAB REP. 2,382,345 2,332,424 0 50,422 2,017 4,400 0 TANZANIA 4,297,228 4,2D6,2t2 0 90,946 3.638 4,400 THAIIAND 1,077,958 0 1,055.160 0 22,798 912 4,400 0 TOGO 99,252 97,154 0 2,098 U4 4,400 0 TONGA 1,915,003 1,874,426 0 40,577 1,623 4.420 TRINIDAD & TOBAGO 2,143,261 0 2,097,755 0 45,507 1,820 4,400 TUNISIA 67,532 35,685,308 2,703 8,373.543 65,216,304 187,110 7,4U 4,400 35,940,020 35,752.890 TURKEY .111t,353 29,530,996 2,382,845 0 2,332,424 0 50,422 2,017 4,400 tUGANDA 1,745,950 0 1,70,1798 0 37,152 1,486 4,400 UZEKSTAN 269,251 0 263,530 0 5.672 227 4,4Q0 VANUATU 2,143,261 0 2,097,755 0 45,507 1,320 4,400 VIET NAM 126,50 0 324,267 0 2,562 102 4,400 WESrERN SAMOA ADDflIONAL SUBSCRfFTIONS, Table 2 CONTMIBITIONS AND VoTES (A rousi in Current USD Equivalent) Page 6 of 6 Additional Subscriptions,Contributionsand Votes under IDAIO Subscriptionsand Conritbutions Subscriptions,Contributions for Resources Subscriptionsand Votes Allocated Reaourcesin Through IDA9 d/ in SDRs or Freely Convertible Cumrncy in Excess For Exemciseof PreemptiveRights Subsrtiptionsand Contributions SDRsor Freely of Subscriptionsfor Exerciseof Preenptive Rights Convertible Through IDAIO Contributioas Additional Additional Additional Curncy from Additional Contributions Additional Carrying Subscipion Subscription Membership Contributions Pan 1Members Pat U Resources AdditionAl Carrying Subcriptions No Votes el Vote. Subscription Carrying Votes Memben f/ j/ Subwcriptions No Votes Votes Subscriptions No Votes (s-I) (a-2) (c-l) (c-2) (c-3) (c-4) (c-5) (c-6) (c-7) (c-i) (d-l) (d-2) YE4 REPUIJC 2,235,9v2 a 41,527 1,941 4,400 YUGOSIAVIAjf 5.952,595 80.314.713 2,284.519 I83,507 7,340 4,400 0 ZARE 4,193.111 0 90,857 3.634 4,400 6.136.102 80.314,713 ZAMbIA 3,734.997 4.2U4.f6t 0 80,982 3.239 4,400 0 2IMBABWE 5,277,968 3.815,979 0 123,327 4,933 4.400 0 .__ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 5,841,295 0 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ SUB-TOTAL PARTa 475,624,867 _ _ _ _ _ _ _ _ _ _ _ _ LL 2,722,273,873 12,184,531 487,381 550,000 525,950.000 521.337,055 985,455 520.351.6W0 39,418 41U.794,854 3,U42.625,473 aRANDlOTAL 1,545,448,584 65,662,100,395 17,451,790,000 1515,tS,S4,055 U,0F1,056,510 dl Asumning an nemnbers give notification undcr the Third, Fourth, Filth, Sixth, Seventh, a/ Equivalent Eighth and Ninth Replenishments and calculatedas explained in curent United States dollars at IMP cepresentativ exchange rates in footnote a/. V Expressed asof June30, 1992. in curresitUnibtd Statesdollars asobtainedby convening the SDR amounts(Table I. column (4)) using an aveftge to June 30, 1992. Includes the oalcbled effective vahl of of daily exchangerstuefor the US dollar versus the SDR for contribution esulting from encashingcontrdbutions the period March I, 1992 gl The anounts shownin column (e-5) repreernt the on an 3-year shedule rather then a 10-year period. total subscriptionsand contributions of Pan O contributuig minus theadditional members making available resourteein SDRe or freely convertiblecurrency under the Tenth Replenishmeat subscriptions fot theexercise of thepreemptive rightsunderAnticle carrying votes as shown in column (c-6) and contributions carrying m, Section l(c) of theArticles,as shown in column (c-l). 'he amounts in column no votes asshown in column (c-7). (c-5)aredividedintoaubscrptions b/ The wsbcriptions and contribution of the forner Czech and Slovak Federal Republic have been divided into separatewbsriptions January4, 1993. Additionai nembership votes have been andcontributions in accordance with the decision of the ExecutiveDirectors of allocatedto eachof thesememben to bring them in line with i/ Indiahas nodified the Aasociationof ita intention to exerciseits ights under Article other membersin accordance with the recommendation of the Executive Directors. theresources ID, Section I (c) of the Aticles to subscribean amountto enable to bemade available in SDRe or freelyconvertible currnciesby Part it to maintain its reative voting power in respectof jl With the termination of die mnemberhip O menmben. in IDA of the SFRY, tbesubsdriptions andcontributions and subscriptionvotes would be divided in Hle with Asciation, onthedivisionof theSFRYesubscriptions andcotributions. Eachsuccessor the agreementreached,betweenthe succesor Repriblicaand Republic, sail becomes a rnember, the wouldbeaocatedmembershivotes in thesame amount as other meabers.