C 4 ( .K - LIv Document of The World Bank FOR OFMCAL USE ONLY MICROFICHE COPY Report No. P- 5693-IN Type: (PM) RABAYEB, SJ X80314 J D10025/ SA2PH t B~~~~~~~~~~~~~~~~~~~eport No P-5693-IN MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT OF SDR 59.8 MILLION TO INDIA FOR A NATIONAL AIDS CONTROL PROJECT 4 MARCH 9, 1992 This document has a restricted distribution and may be used by recipients only in the performance of thdr ofcial duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EOUIVALENTS (as of October 1, 1991) Currency Unit - Rupee Rupee 1.00 - US$0.04 US$1.00 - Rupee 25.5 NETRIC EOUIVALENTS 1 Meter (m) 3.28 Feet (ft) 1 Kilometer (km) - 0.62 Miles ABBREVIATIONS AND ACRONYMS AIDS - Acquired Immune Deficiency Syndrome GPA - Global Programme on AIDS in WHO HIV - Human Immunodeficiency Virus XIOHFW - Ministry of Health & Family Welfare NGO - Non-Governmental Organization STD - Sexually Transmitted Disease UT - Union Territory WHO - World Health Organization FISCAL M April I - Match 31 FOR OFFICL4L USE ONLY NATIONAL AIDA CONRO PROJECT Cedit and Project Summary Borrower: India, acting by its President. Ba2fiAlalals: States and Union Territories of India through the Union Ministrv of Health and Family Welfare. A%2=nt: SDR 59.8 million (US$84.0 million equivalent). TErm: Standard, with 35 years maturity. Onlending Terms: Government of India (GOI) to the States and Union Territories of India: in accordance with standard arrangements for development assistance to States and Union Territories. Einancgna Plan: Local Foreig total -US$ million ------ 0OI 14.1 - 14.1 WHO 0.4 1.1 1.5 IDA U12 M0Q TOTAL h9.6 Economic Rate of Return: Staff AdraiaLll laort: Report No. 10165-IN This document has a restricted distribution and may be usd by recipients only In the performance of their official duties. Its contents may not otherwise be disclosod without World Bank authorization. IEUOIANDUM AND UCO)OEKDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOYPENT ASSOCIATION TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO IMDIA FOR A NATIONAL AIDS CONTROL PROJECT 1. The following memorandum and recommendation on a proposed credit to India is submitted for approval. The credit, for SDR 59.8 million (US$84.0 million equivalent), would be on standard IDA terms with 35 years maturity. The credit would help finance a National AIDS Control Project. The proceeds of the credit would be passed by the Government of India (GOI) to the States and Union Territories (UTs) in accordance with standard arrangements for development assistance to States and UTs. 2. gg=Moector Ba The human immunodeficiency virus (HIV) epidemic in India has been described as a "silent volcano". Current estimates of HIV prevalence vary between 300,000 and 500,000 people. By September 1991, 5,706 sero-positive cases were reported, as well as 96 clinically overt cases of acquired immune deficiency syndrome (AIDS). HIV infected persons have been identified in every State with HIV testing capabilities. The rate of sero- positivity is increasing rapidly and the dimensions of the epidemic are massive. 3. Heterosexual transmission is predominant and the blood supply is unsafe. Transmission is facilitated by the high incidence of sexually transmitted diseases (STD) and high infection rates among prostitutes and their clients for both STDs and HIV. STDs are associated with the same risk behaviors that put a person at risk for HIV infection and facilitate both the acquisition and transmission of HIV. Infection is also being spread through iatravenous drug use, especially in the Northeastern States. 4. The UIV epidemic is relatively recent in India. Initial responrss are in their early stages and limited in scope and resources. Present levels of public expenditure on AIDS are very low. Prom 1986 to 1991, the Ministry of Health and Family Welfare (MOHFW) allocated only US$6 million to AIDS Control and an additional US$3.4 million were given to the States to improve blood safety. Existing STD services lack basic resources and are underfunded. In addition, the public sector lacks the technical and operational skills and access to the risk behavior groups and communities that are needed to control the spread of HIV/AIDS effectively. GOI is establishing institutional mechanisms and guidelines to effectively address the legal and ethical aspects pertaining to the management of its AIDS control interventions. 5. The financial impact of dealing with AIDS cases is likely to be significant. Under current epidemiological conditions in India, it is projected that there will be about one million overt AIDS cases by the year 2000, in addition to several million silent HIV infections. Direct costs of care incurred by the Union and State Governments would escalate yearly to reach a total of about US$1.3 billion by the year 2000, in addition to other direct costs in the private sector. The indirect national income loss is estimated to be about US$1 billion equivalent for every 100,000 AIDS related deaths. t~~~~~~~~~~~~ 6. Lei'ons of gaperience. There is no past Bank Group experience in financing AIDS control in India. However, the Bank Group to date has financed one free standing AIDS project in Zaire and AIDS components in several projects. In additin, considerable international experience has been accumulated from both developed and developing countries. The main conclusions to date include: (a) the need for speed, because intervening at the initial stages of the epidemic's development has a greater impact and a higher benefit-cost ratio than intervening at a later stage; (b) the need for a multi-pronged approach while prioritizing among interventions; (c) the importance of targeting core groups for cost-effective measures; (d) the importance of controlling STDs; (e) mass media is important for changing social norms, while targeting specific groups through direct contact interventions is important for affecting behavioral ch.ange within those groups; (f) socio-cultural determinants are critical for considering strategies for influencing risk behavior; and (g) there is a need to go beyond the formal health sector in multisectoral directions. 7. The seven World Bank-assisted population projects, one maternal and child health project, and two nutrition projects in India have generally been implemented satisfactorily, with modest delays in the early part of the project. The completed Tamil Nadu Nutrition Project had a very positive impact on the nutrition status of malnourished young children. The Fourth Population Project, the Fifth Population Project, and the Health Component of the Third Calcutta Urban Development Project are ongoing but are already showing positive results on morbidity and fertility. However, lessons of experience suggest that greater attention needs to be paid to: the financing and management of projects; the management and supervision of staff; the training of personnel; the planning of work routines; and, the supply of needed goods and materials. 8. Rat iole gfX IDA Imvolvement. there are several reasons for involvement, which underline IDA's strategy for enhancing human capital development in India through high return investments. They also go along with our emerging objective of assisting India in controlling major health problems, while simultaneously improving the quality, effectiveness and efficiency of health systems in a sustainable manner. First, the country is witnessing the emergence of an epidemic whose potential negative consequences are enormous if left unrestrained. In this context, it is necessary to assist the Government in reducing the risks of jeopardizing and reversing health improvements. The detrimental impact on maternal and child health would be especially significant. Second, the level of assistance required to respond to the epidemic cannot be fulfilled by other donors. Finally, there are high direct and indirect economic returns to the proposed investments. 9. Prolect Obiectives and Stratemy. The ultimate aim of the project would be to slow the spread of HIV in India to reduce future morbidity, mortality, and the impact of AIDS. It is clear that measures must be taken as a matter of high priority to begin dealing with HIV/AIDS in a more comprehensive manner. Thus, the project would be a "start-up investment". It would take a multi-pronged approach that would focus on the most critical interventions to begin limiting HIV transmission today. It would also set a basis for more extensive HIV/AIDS control activities in the future. The project would take account of available scientific information and the lessons of experience from AIDS efforts worldwide (par*. 6). Project activities would be integrated to the maximum extent with the existing health infrastructure; they would also make extensive use of the private sector and NGOs in areas in which they have comparative advantage. The scope of the project would vary with each intervention according to need, absorptive capacity, feasibility and efficiency. 10. ?roiegt Descriotio. The project would provide, over five years, training and workshops; publicity services; health information and education materials- consultant services; NCO services; laboratory, blood banking and medical equipment and supplies; surveys and operational studies; STD medicines; vehicles; civil works; incremental salaries for additional staff; and operation and maintenance of equipment and vehicles. The Union Government would coordinate the project, carry out major procurement and logistics, implement some public awareness activities and develop policy and technical guidelines. The States and UTs would implement most project activities. 001 would pass to the States and UTs the goods procured and would bear all project costs borne by the States and UTs. 11. The project components consist of: (a) Dromotiug public awareness and *gg=Mij L cgrt. with a primary focus on sexual transmission, behavioral change and condom promotion through the television and radio stations, private advertising agencies, NGOs and the health system; (b) imnroving blood safety from a current 30 percent to 90 percent of the blood supply, and enhancing the rational use of blood and the share of voluntary donations; (c) building surveillance and clinical mana=ement capacity to monitor the spread of the epidemic and to strengthen the skills of health staff and social workers in managing and counselling HIV/AIDS persons; (d) c9=rg1j.ing sexually transmitted diseases by improving clinical services and case management in the country's STD clinics and in private practice in metropolitan areas; and (e) strengtheing the ManM Mten capacity for HIV/AIDS control through the formation and support of national and State AIDS Control Cells. 12. Project Costa. The total cost of the project is estimated at US$99.6 million equivalent, with a foreign exchange component of US$34.1 million (34%) and taxes estimated at about US$3.6 million equivalent. IDA would finance US$84.0 million equivalent, or about 87.5% of the net of tax cost of the project. The World Health Organization (WHO) would provide the equivalent of US$1.5 million in international technical assistance as parallel grant financing. GOI would finance the remaining US$14.1 million equivalent, or 14.1% of the total project cost. A breakdown of project costs and the financing plan are shown in Schedule A. Retroactive financing of up to US$3.0 million would be provided for eligible expenditures made after October 31, 1991. Amounts and methods of procurement and the disbursement schedule are shown in Schedule B. A timetable of key project processing events and the status of Bank Group operations in Ind,a are presented in Schedules C and D. The Staff Appraisal Report, No. 10165-IN, dated March 9, 1992, is being distributed separately. -4- 13. Prolece Sustainabilitv. The project's interventions are largely preventive and the recurrent costs they generate would be a negligible part of Union and State expenditures on health at this time. Nonetheless, project- assisted activities would need to be sustained and to grow for some time within serious budgetary constraints. The project constitutes an integral core of GOI's plan to combat AIDS and the Government's commitment to this objective is prominent. A more significant and consequential issue is the cost of dealing with AIDS patients, which will escalate progressively during the decade and beyond. In this context, the Bank and MOHFW have iritiated a collaborative study on health financing. This review will help identify gaps in the financJi of sectoral interventions and how they can be effectively and efficiently met. In addition, a plan for the next phase of AIDS Control activities to be developed in the proposed project would further address the sustainability of national AIDS control efforts. 14. Arneed Actions. During negotiations, the Government provided assurances that it would: (a) establish by October 31, 1992 and then maintain a Technical Advisory Sub-Committee or Social, Ethical and Legal Issues, according to terms of reference satisfactory to IDA; (b) cause project States and UTs by dates agreed with IDA to establish and maintain AIDS Control Cells in their respective Departments of Health; (c) develop under terms of reference satisfactory to IDA by June 30, 1995, a strategic plan for the next phase of the Government's program for HIV/AIDS control; (d) select NGOs on the basis of criteria and procedures satisfactory to IDA; (e) promulgate by September 30, 1992 and thereafter maintain and enforce regulations requiring that condoms manufactured or sold in India conform to quality standards established by WHO; (f) review annual progress and plans with IDA; and (g) carry out with IDA a mid- term review of project implementation prior to March 1995 and take into account comments and suggestions made by IDA during implementation thereafter. 15. There would be two conditions of effectiveness: (a) the Government shall establish and thereafter maintain a National AIDS Control Authority, with adequate full-time staff, other resources and terms of reference satisfactory to IDA, and the designated staff shall have commenced work; and (b) all conditions precedent to the effectiveness of the WHO Grant would have been fulfilled. A condition of disbursement for expenditures incurred by any State or UT would be that the Government furnish IDA with a Letter of Undertaking satisfactory to IDA from that State or UT which would outline how each State/UT would carry out its part of the project. 16. Project Benefits. The project's interventions would help slow the spread of the HIV epidemic and its burden on individuals, families, and the society. The project would contribute to preserving health status and previous investments in health. The project would have a significantly high return in terms of healthy life years saved. Externalities would be high and the project benefits would accrue to the society at large. HIV control would contribute to the containment of tuberculosis which is exacerbated by AIDS. Most importantly, responding to AIDS now would cost only a fraction of what would be required at a later stage when the disease is allowed to become more widespread. -5- 17. It is estimated that at least 300,000 AIDS cases would be avoided on account of the project by the year 2000. It has been estimated that the project would help avoid about US$388 million of direct bhalth care costs to the Union and State Governments between 1994 and 2000. An indicative economic rate of return, illustrating the comparison between direct cost to the Government that could be saved and the total investment, is estimated to be about 27 percent. In addition, the project would, by the year 2000, help avoid a loss to the national income ranging from US$2.5 billion to US$3 billion equivalent. Hence direct and indirect returns would be significant. 18. Pro-gram Obective Categories: Poverty Agggcts. By enhancing prevention, the project would limit the shifting of health resources to additional curative care often consumed by the middle and upper socio-economic classes. Poor segments of the population such as migrant labor and commercial sex workers are at high risk of HIV infection and they would be targeted by the projer,t. Also, the project would slow the rise in the number of orphans. VID Aspects. The project would conitribute to alleviating the number of infections transmitted to women and would help mitigate STDs which are responsible for considerable morbidity in women's reproductive health and long-term complications like pelvic inflammatory disease and neonatal infections. In addition, enacting higher standards for condom quality would benefit not only HIV/STD prevention but also family planning programs. Private Sector Aspects. The project would support the role of the private sector and NGOs in HIV/AIDS prevention and general care activities. 19. Iska. There are several risks to the project. First, preventing AIDS depends largely on changes in people's behavior. There is no quick solution for achieving these changes. This would be addressed by making the project well focused on key actions in a multi-pronged approach, by using NGOs to reach risk behavior groups arA by extensive participation of the television and radio stations and the private sector in promoting public awareness. 20. Second, there are the usual risks of poor implementation of project investments by a Borrower whose implementation record is mixed. These would be addressed by the careful preparation of the project in those areas that have constrained previous social sector projects in India, by paying special attention to project management and implementation responsibilities, and by making good use during implementation of WHO resident technical assistance. 21. Rtegoenadation. I am satisfied that the proposed credit would comply with the Articles of Agreement of the Association and recommend that the Executive Directors approve the proposed credit. Lewis T. Preston President Attachments Washington, D.C. March 9, 1992 -6- ScheduleA EA,,;ON6 ^z2CONTROL PROJECT Estimated1 Costs and FinamncingPa Local Foreign Total US$ Million Estiwated Project C9zt 4g Strengthening Program Management Capacity 5.5 1.5 7.0 Promoting Public Awareness and Community Support 27.2 1.8 29.0 Improving Blood Safety and Rational Use 12.3 17.4 29.7 Controlling Sexually Transmitted Diseases 4.4 5.6 10.0 Building Surveillance and Clinical Management Capacity 11.3 Total Base Cost 60.7 28.4 89.1 Contingencies 4.8 5.7 10.5 Total Project Cost 65.5 34. 29 Z& Including taxes and duties equivalent to US$3.6 million. Financing Plan Government 14.1 - 14.1 WHO 0.4 1.1 1.5 IDA us 84.0 Total ALI 34.1 -7.. Schedule B Page 1 INDIA NAlONAL AIDS C0NTRL PROJEC Summa o Prooosed Procurement A&SnoeMents (1S$ million) Procurement Method Total Project Element ICB LCB Other N.B.F. Costs i. Works 1.1 CMI Works - 0.3 - - 0.3 - (0.3) (0.3) 2 Goods 2.1 Equipment, Vehiles, 7.7 8.0 34.2W - 49.9 MIS & IEC Materials, (6.9) (7.2) (30.8) (44.9) Medical & Laboratory - - - - Supplies, STD Medicines - - - - & Fumn*urQ - 3a TrainingfTechrnca Assistance 3.1 Local Training, - 16.8 - 16.8 and Workshops - (13.0) (13.0) 3.2 NGO Services - 8.3 - 8.3 - - (8.5) (6.5) 3.3 Loca CGonsulanfts - 7.6 - 7.6 and Studies - (6.8) - (6.8) 3.4 Foreign Consulants -- - 1.w 1.5 - -o(0.0) (0.0) 4. PublicIty ServIkcs - 7.7 7.7 * (.69) - (6.9) 5. Miscellarneous 5.1 Salaries of Additional - - 6.9 - 6.9 s Sa - (4.4) (4.4) 5.2 Incremental Operation atd - 1.6 - 1.6 Maintenance of Equipment - (1.2) - (1.2) and Vehicles TOTAL 7.7 8.3 82.1 1.5 99.6 (6.9) (7.5) (69.6) (0.0) (84.0) N.B.F.: Not Bank Financed Note : Figures In panrefteses are the respective amounts fmnanced by the IDA Credit IIU) Leor wi mod oulpmet an supplie *dMatd to ost US$19.8 mUen woud be prAred fom- WHO. ki COlltianwed In paMliof by WHO. X8- Igh2dule A Page 2 % of expenditures QAteg9Ky Amoun£ to be disbursed (US$ million) Equipment, laboratory 44.9 100% of foreign CIF and and medical supplies, local ex-factory costs vehicles, IEC and MIS and 80% of other local costs, STD medicines, costs furniture Local consultants services 6.8 90% of expenditures and studies Training and NGO services 19.5 80% of expenditures Publicity services 6.9 95% of expenditures Incremental operating costs 5.6 90% of local expenditures until March 31, 1994 ar4 60% thereafter Civil works 0.3 90% of expenditures TOTAL 84.0 Estimated Disbursements IDA. FY FY-93 I2A EX2i E9 FY FY98 Annual 12.2 20.1 20.3 16.3 14.6 0.5 Cumulative 12.2 32.3 52.6 68.9 83.5 84.0 -9 .Sche&dle ,c INDIA NATINAL AIDS QNTORLQ PROJR * Timetable of Key Project Processing Egents (a) Time taken to prepare the project: Six months (May 91 - October 91). The project proposal is based on a refinement of a m,dium-term plan for AIDS control developed by GOI and the States in 1990 with assistance from WHO. (b) Prepared by: The Ninistry of Health and Family Welfare in consultation with WHO/ Global Programme on AIDS (c) First IDA mission: July 1991 (d) Appraisal mission departure: October 1991 (e) Negotiations: February 1992 (f) Planned date of effectiveness: May 1992 (g) List of relevant PCRs and PPARs: India: PCR on First Population Project (Credit 312-IN), May 19, 1981 Project Performance Audit Report No. 3748, December 31, 1981 India: PCR on Second Population Project (Credit 981-IN), June 20, 1989 Project Performance Audit Report No. 8896, June 29, 1990 India: PCR on Tamil Nadu Integrated Nutrition Project (Credit 1003-IN). November 26, 1989 -10 - SCHDULED PAGE 1 of 4 THE STATUS OF BNA GROI OPERATIONS IN I4DIA A. STATEENT OP OANK LOANS AN DA CEIUMS (As of December 81, 1901) USS Ill ion (ne of cnerlltilons) Loon or Fiscal V"r Cedlt No. of Approve I Purpo 13 IRA 1/ Undisbursed 2/ 90 Loans/ 62.1 - - 166 Credit fully diebured/cancelle - 1091.5 1172IN 1962 Korba Thermal Poer XI - 86.? 6.08 2076-1IN 16" Ragundm Therml Power I 260.0 - 9.61 1260-IN 106 Gujarat Water Supply - 69. 9.6 1816ti 1968 Haryan" Irrigation TI 18U.6 6.20 185-IN 1968 Upper Indravati Hydro Power - 170.0 87.52 1869-IN 1908 Calcutta Urban Developent III - 91.6 10.08 2268-IN 1908 Central Powr Tranusmiesion 200.7 7 7.98 2295-IN 1068 Himalayan Watershd Mangment 80.2 -. 6.66 1*88-IN 1983 Mhaer"htra Woter Utilization - 82.0 1.01 1424-IN 1964 Reinfed Areas Watershed 0ev. - 25. 20.67 1426DI 1904 Population III - 70.0 2.17 1482-IN 19s4 Karnataka Socldl Forestry ^ 24.7 8.48 2867-IN 1964 Nhova Shove Port 250.0 - 20.01 2808-IN 1064 Oudhichua Coal 109.0 - 16.96 2408-IN 1964 Cambay Basin Petrolem 218.5 - 84.09 2415-IN 1064 iadbys Pradesh Fertilizer 172.6 - 6.44 1454-1N 1984 Tamil Nadu Water Supply - 86.5 21.68 SF-12-IN 1964 Taml Nadu Water Supply - 86.5 84.20 SF-1S-IN 19s4 Porlyar Vaigal XI Irrigation - 17.5 12.09 1481-IN 1064 Upper Conga Irrigation - 105.4 56.66 1404-IN 1904 Gujarat MedIua Irrigation - 166.8 61.11 2410-IN 1964 Indira Sarovar Hydroelectric 17.4 - 11.70 S-S0-IN 1964 Indira Sarovar Hydroeloctrlc - 18.6 17.67 I118-IN 1965; Indira Sarovar Hydrolectric - 18.2 17.78 2417-IN 1904 Railwsys Elactrification 279.2 - 28.17 2442-IN 1964 Frakka It I Therml Power 276.6 - 94.78 2452-IN 190 Fourtb Trmbay Therml Power 185.4 - 10.14 1502-IN 196 National Cooperative Development Corporation III - 199.6 J8.89 1514-11 1905 Koralo Social Forestry - 27.1 7.85 1628-IN los5 Nttional Agric. Extension? - 88.0 19.88 1644-IN 1965 Bomby Urban Developmet 100.9 50.C6 24P-IN 1906 Namarda (Gujarat) Dan and Power 200.0 - 200.00 1552-IN 1065 Narmada (Gujarat) Dam and Power - 100.0 81.84 1558-IN 1E65 Narmada (GuJ3rat) Canal - 145.2 57.14 1S668- t065 Second National gricultural Est. - 45.4 28.51 161l-IN 1966 National Social Forestry - 154.1 J8.62 2408-IN 196 Jharia Coking Coal 67.7 - C.28 2584-IN 1065 Scond National Highways 200.0 - 11.62 2644-IN 1906 Chendrapur Thermal Power 280.0 - 99.86 255-4N 1965" Rihand Power Transmiesion 202.0 - 10.60 2692-IN 1065 Kerala Powr 176.0 - 187.62 1196-IN 196 West Bngal Minor Irrigation - C9.2 1.20 1621-IN 198B Msharshtra Composite Irrigation - 160.0 I18.86 1022-IN 1966 Kerala Water Supply and Sanitation - 21.6 6.66 1628-1N 1068 West Bensal Population 46.9 19.44 1681-IN low national Agricultural Research II - 66.0 44.04 2629-IN 1066 Industrial Export Dov. Finance 90.0 - 10.40 - 1.1- StHEOULE 0 PAGE 2 of 4 MS8 Million at of csaonllations) Loan or Ftrci IYear Credit No. of ApgwavI Purpoe iSO IDA 1/ Und4lbursed 2/ 230-IN 10B* ICICI-Indus. Exp. 0ev. Finance 100.0 - 28.88 1641-IN 1986 auj*rat Urban - 60.8 82.06 2J00-V 184 Cement Indu try 166.0 - 69.76 2001-ZN 1980 ICICI - Cem_nt Industry 86.0 - 15.15 1046-IN 1966 Andbra Pradesh U Irrigation - 140.0 151.12 2042-IN 1so AQdhra Pradosh II Irrigation 41.0 - 41.00 2674-IN 166 Combined Cycle Power 486.0 - 80.04 27D0-IN 1tw6 Cooperativo FertilIzer 116.8 - 22.41 1787-DN 1987 Sibar Tubewolls _ 22.8 12.86 2769-ZN 1t87 Bombay Wfter Supply A Sewerage III 40.0 - 40.00 176IM 1907 Boy Water Supply a Severag III - 145.0 toy.7 1754-IN 1997 National Agri. Extension III - 70.2 47.16 1767-DN 1907 Gujarat Rural Roads - 119.6 109.60 1770-IN 1907 National Water Management - 114.0 99.90 2765-IN 1987 Oll Indla Petroleum 140.0 - 56.91 2796-1N 1067 Coal Mining A Quality Improveent 840.0 - 121.76 281.14K 1987 Telec imnications IX 198.0 - 85.41 1760-IN 1oo7 Utter Pradesh Urban Development - 121.0 B6.07 2827-IN 1967 Karnataka Power 260.0 - 214.46 2844-IN 1987 National Capital Power 425.0 - 282.01 2645-IN 106? Talcher Thermal 875.0 - 821.42 2640-IN 1987 Madras Water Supply 58.0 - 48.24 2898-IN 1966 National Dairy It 200.0 - 200.00 1es9-IN 1066 National Dairy It - 160.0 60.27 2904-IN 1066 Western Gas Dovelopoent 265.2 - 16.69 262-IN 1066 Indus. Fln. A Tech. Aet. 360.0 - 09.12 2985-IN 1986 Railway Modernization III 890.0 - 262.64 2986-IN 1068 Karnataks Powr II 220.0 - 192.81 2957-IN 10o" Utter Pradesh Power 860.0 - 302.95 1928-IN 106 Tamil Nbdu Urban Dev. - 269.7 195.78 1981-IN 106 bomby A Madras Population - 57.0 16.92 2994-IN 1t9 States Roads 170.0 - 170.00 1959-IN 199 States Ros - 60.0 59.72 8024-VI 1069 NAhp Jhakri Power 485.0 - 448.29 1952-IN 198 National Sees III - 160.0 107.54 3044-IN 1so9 Petrolem Transport 840.0 - 805.00 2008-IN 1089 Vocational Training - 211.0 1865.17 2010-IN 1089 Upper Krishna Irrigation II - 160.0 182.24 3050-IN 1989 Upper Krishna Irrigation II 96.0 - 65.00 805-IN 1089 Export Devwelopment 120.0 - 4.9 8059-IN 1809 ICICI - Export Developmet 176.0 - 125.8 2022-IN 1989 National Soriculture - 147.0 135.42 #008-IN 1060 Electronics Industry Dev. 0.0 - 7.50 304-IN 1069 ICICI - Electronics Ind. Dev. 101.0 - 9.54 6095e-IN t196 llI - Electronics Ind. Dew. 101.0 - 76.08 8004111 1069 Maharashtra Poser 400.0 - 876.04 2067-IN 1969 Nat,l. Foamly Welfare Trng. - 118.8 101.96 31196-I 1090 Industrial Technology Development 146.0 - 121.00 2064-IN 1090 Industrial Technology Developmont - 65.0 66.96 2076-IN 1990 Punjab Irrigation/Orainooe - 145.3 150.19 2115-IN 1990 Hyderabad Water Supply - 7?.9 61.19 8196-IN 1090 Cemnt Industry Restructuring 800.0 - 261.69 2100-IN 1000 Watershod Development (Hills) _ 75.0 60.02 2180-IN 1090 Technician Education I _ 210.7 212.28 -SCHLE D -12 - PA S of 4 LAaII or FIscal Veer 136 million cLut or Fwlor(o of cascellatioss) CnWet No. of Apropvl Purpoes. JUNDA 1/ Undisburse 2/ 2181-IN 1990 WIAt DeOopOnt (Plains) - 66.0 67.?2 2188-I 10og Poplation Training - 91.9 80.23 215N-1i1 10o TamiI Nadu ntegrated Nutrition it - 80.2 6. 12.7-2N 1900 North.rf RegIon Transslsion 465.0 - 462.75 821-IN 1i0 Private Power Utilities I (TEC) 98.0 - K1.5$ 2178-N 1511 2CDS I (Orita a A ahr Pradesh) - 050 06.5s 825-I1N 1911 Petrochmicals 22 12.0 - 11.00 S29-I1N 1o1 Ptroehemicals XS 233.0 - 190.69 820-Nlo 1t A.P. Cyclon Emery Rcontrto 40.0 - 40.00 2179-IN 191 A.P. Cyclone lmgncy n ctn - 170.0 127.12 8800-15 1911 Tsail Nadu A cultural Devlo e20.0 - 20.00 2215-IN 191 Tool Nadu ricultural Dlopt - 92.0 06.80 222--iN 1511 Tecbnicaln Eton . 807 W.1 80.20 22114-IN 1511 Mehershtra Rural WeOr Supply - 109.9 102.82 $85-IN 1991 Dow Safety 28.0 - 28.00 2241-N 111 Dan Safety - 180.0 310.85 8884-ZN 10 Irndustrial Pollution Control 124.0 - 117.95 2262-IN 15t Indutrlal Peilutloto Control - 81.0 81.40 844-N 1001 Privat Power Utillties I (am15) 200.0 - 1.46 8804-N5 1001 a" Flaring Rducilon 450.0 - 860.00 2800-2N 1512 Chlld Survival nd Sate Motherhood. - 214.5 280.08 .2816-ZN 1902 StrucWral &AuStient - 250.00 106.84 8421-ZN 151 Structural Adjustment 260.00 - 100.00 Total 17751.0 17768.7 11574.0 f wbich hs ben repald 081.$ 707.5 Total mo outstanding 14717.6 16996.2 Amount Sold 188.8 of which he be rpid 1. Total no held by Bank and IDA 8/ 14717.5 16008.2 Total undisburd (excluding. ) 6007.1 4051.6 1/ IDA Credit mounts for Sm-denominated Crdit ar expresed In terms of thi r US dollar equivalents, as establisheld at the tim of Credit negotltlons and as subsequently preseteA to the Board. 2/ Undieburoed ameont for SDR-d_norlated IDA Credits ar drivWd as the undiebreed belanse expresd In ODN equivalentS (in turn derived as th difference between the orlginal principal epresse In SM. (based on the exhange rate In ffect at negotiations) and the cumulative dob.rsemont convrted to Sm equlvalent. at the *xchange rates proealIing at the repectlve date of disburs.mne loes canel lotions expressd In SDR eqivleont at the exchang reats prev Iling at the dat(s) of cane llations) converted to US dollar quivalents at te SmR/US dol ar exchange rate In effect on Decober 81, 1M1. 8/ Prior to exchabge adJtmet. * Not yebt ffectiv. - 13 - PAGE 4 OF 4 . STATEMENT OF lFC RVESTMD4TS (As of DOcember S 11 1 Au Q =mllIon) Loan ~~~~~~~TotalI Fiscal Ye r Ceapafly Lean Equlty ol l9S Ropublic Forge Cowpany Ltd. 1.60 - 1.50 1969 Kirloska Ol Enlgnes Ltd. 0.65 - 0.6 1900 Asasm Sillmanltt Ltd. 1.86 - 1 .8 S#1 K.S.B. Pumps Ltd 0.21 - 0.21 1061460 Prectuton Searings ndidl Ltd. 0.68 0.18 1.01 19064 rt Gloater Industrie Ltd. 0.81 0.40 1.21 19064-7 -T%00 Mehindra Ugin- Steel Co. Ltd. 11.91 2.84 14U. 1904 Lakhala i Machin Works Ltd. 0.90 0.ao 1.12 1906 jiylwe Cheicele Ltd. 1.05 0.10 1.15 1lO7 Indian Explowime Ltd 6.0 2.60 11.40 5909-70 Zuari Agro-Chesicale Ltd. 16.15 1.76 16.91 197Y-67 Escort Lilted 15.55 - 106.5 1070-J67p 1 Houstng Development FInance Corp. 104.00 2.10 106.10 1960/62/67/69 Deepak Ferti II za and 11.73 P-trochemicals Corporation Ltd. 7.60 4.2- 11.66 1982 Coroandel Fortl I lwes Limited 15.66 -.168 1661-66-36 Tat Iron and Steel Company Ltd. 72.26 21.40 T1 1061-32 Nag s un Coated Tubes Ltd. 1.60 0.24 1.74 192 T6m-97/91 Ng ,rJ un" Signode Limited 2. 0.41 8.40 1981-62 Nagarjuns Steels Limited 2.88 0.24 8.S2 1962 Ashok Leyland Limited 28.00 2.00 The Bombay Dyeing and 0.00 Manufacturing Co. Ltd. 16.60 - 16.60 1983 Sharat Forge Company Lbd. 15.90 -14.9 * 1082-67 The Indian Rayon Corp. Ltd. 14.-7 1984-89 The Gealior Rayon Stik Menu- featuring (weaving) Co. Ltd. 16.965 15.96 1065/91 Sihar Sponge 15.24 0.66 15.92 IM/n Bihar sponto ~~~23.93 -28.03 196o Bajaj Auto Ltd. 12.05 - 13.05 1986 Modi Cem nt l.0 - 13 0 .965-06/00-91 tndia Lee" Development Ltd. 6.50 07 19.26 106 Larsen and Toubro Ltd. 16.1 - 18.14 1066 Indis Equipmnt Leasing Ltd. 2.50 - 2.80 196 SaJj Tempo Limited 30.54 1086-6 The reet lEsteo Shipping 6.00 Compny Ltd. 81.66 98T7 Gujaort Naramda Valley Ferttiler U8.07 - 36.07 1967 Hero Hboda Motors Ltd. 7.4 - 4.7 1967 Wimo. Limited 4.70 - 4.70 1967-66/s0 Titan Watches Limited 22.02 0.56 22.56 1067 Export-Import Bank of India 14.4 - 14.34 197? oujarat Fuston Glss, Ltd. 7.62 1.70 9.22 1987 The Gujarat Rural Housing 0.10 Finance Corp. - 0.19 0.19 10S7 Hindustan eoters Ltd. 36.7 - 86.76 19086 Ivel Transmissions Ltd. 1.07 1.07 1989 WSI Advanced Technology 0.20 0.20 1069-90 Keltron Telephone nstruments Ltd. 4100.30 1969 aaujarat State Fertilizer 41.80 - 21.65 1989 Ahmedabad lectricity Company Ltd. 21.86 1990-91 Tato Electrie 110.15 - 110.15 19o0 JSB India Securities Firms 0 O.87 0.17 1981-90 Mahindra & Mahindr* Ltd. 26.19 6.07 37.16 1990 UCAL Fuel systJes Ltd. - 0.61 0.6 1091 lndust. Credit A lnvestment Corp. of 2ndl1 - 26.00 22.00 1061 CESC Ltd. 22.10 - 22.19 1991 HMrdill Oxides and Electrenics LY . 1.61 16.91 1991 Infrnstructuae Leasing a Financial Servtces 15.00 0.66 0.91 1991 Trivenl Pool Intairdril Ltd. (TPIL) -.; 1.71 1. lS91 E4o wy Electric & 8net s 1.C04 - .580 1to1 Varun Transport, Storage A CommunicatIons 17.04 2.1 2.19 1661 TDICI Devlopment Finance Cotpanle 0.65 - 0.15 1061 Export Flnanc 0.e 1901 ATIC Industries Export Finance 0.26 _820 1962 Block KG-OS-IV 6.20 6.20 1092 INDOUS VCf 1- .16 1.16 TOTAL CROSS COMMITMENTS 936.32 107.16 1043.22 Leost Cancellation, Terminations, 427.4 27.20 454.64 RePymnts and Sas 9 me meld 506.88 70.06 568.6U Undisbuitsed 197.76 32.46 230.24 Unlaur-