;/4/ 37/7- /157Document of

The World Bank

FOR OMaCL US ONLY

RptM N. P-6185-PE

REPORT AND RECOOMENDATION

OF THE

PRESIDENT OF THE

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

TO THE

EXECUTIVE DIRECTORS

ON A PROPOSED LOAN

IN AN AMOUNT EQUIVALENT TO US$150 MILLION

TO THE

REPUBLIC OF PERU

FOR A

TRANSPORT REHABILITATION PROJECT

FEBRUARY 17, 1994

MICROGRAPHICS

Report No: P- 6185 PEType: MOP

This documert has a restricted distribudon and may be used by recipients only in the performance oftheir official duties. Its contents may not oterwise be disclosed without World Bank authorization.

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CURRENCY EQUIVALENTS(as of October 15, 1993)

Currency Unit = SolUS$1.00 = Soles 2.15

WEIGIs AND MEASURES

Metric System

FISCAL YEAR

January 1 - December 31

ABBREVL4IAONS AND ACRONYM

CMCPL Lima Municipal Bank for Popular Credit (Caja Municipal de Cr6dito Popular deLima)

CORPAC Peruvian Airport and Commercial Aviation Corporation (Corporacifn Peruana deAeropuertos y Aviaci6n Comercial)

ENAFER National Railway Company (Empresa Nacional de Ferrocarriles, S.A.)ICB Intnational Competitive BiddingIERR Internal Economic Rate of ReturnIMP International Monetary FundLCB Local Competitive BiddingMLM Municipality of Metropolitan Lima (Municipalidad de Lima Metropolitana)MTCC Ministy of Transport, Communications, Housing ad Constuction (Ministerio de

Transportes, Comunicaciones, Vivienda y Construcci6n)NMT Non-motorized TransportPCU Project Coordination UnitPPF Project Preparation FacilitySOE Statement of Expendiures

FOR OFFICLAL USE ONLY

PERU

TRANSPORT REBABILJTATION PROJECT

Lem and PNjec Sum&ay

BOwoWer Republic of Peru

Executg Agences: Miny of Trsport, CoMUications, Housing and ConstruCtion(MTCC);Nationd Railway Company (ENAFER);Municipality of Metropolitan Lima (MLM)

Amount US$150 million ewqivent

Tenrm: 20 yeas, including 5 years of grace, at the Bank's standard variable rate

mirnuntal Category: B

Pove Category: Not applicable

Jinanin Plan: IBRD US$ 150.0 millionGovernment of Peru US$ 54.0 millionGermany US$ 38.0 million

Told US$ 242.0 m4lion

Rate of Retuln: Overal IERR is 27%, based on quantifiable benefits

Staff Apprisal Report: 12309-PE, dated February 17, 1994

Map: IBRD 25105IBRD 25544

This document has a restricted distribution and may be used by recipients only In the performanceof their official duties. Its contents may not otherwise be disclosed without World Bank authoron.

MEMORANDUM AND RECOMMENDATION 3F THE ESENTOF INTRNATIONAL BANK FOR RECONSMRUCTION AND DVOPM13NT

TOIY)TE EXFCtJTIVE DIRECTORSON A PROPOSE LOAN TO THIE RSPUBLC OF PERU

POR A TRANSPORT IIEHABAIIATION PROJECT

1. I submit for your approval the following mrandum anid ecom ation on a proposed loanto the Republic of Peru for the equivalent of US$150 million to help finance a Trnsport RehabilitationProject. ITe loan would be at the Bank's standad variale rate, with a matuty of 20 years, including5 years of grace.

2. Ba ud. Peru's tmsport infiaruce ficed virtual collapse m the late 1980s due toprolonged ect of maitenance and rebabilitation. Ths resuted m high transport costs and seriousbotdenecks in the asport sytem. When Peru launched its sweeping economic stabilization andstrcul adjustmat program in 1991, it ws clearly recognized that removig transport botlenecks andimproving transport efficiency were crucial in susning the economic reorms program. TheGovernment has undertakn a program of emergency repas and phased rebabilitaion of transportinastructue, and has initiaed sound and pragmatic policy refrms; however, additnal steps are neededto consolidate the reform, stregthen institutions, and improve ransport infr cture and srvices.

3. Th rtation of adequae transpor capacity, pariadacly for the road system, and the rebuildingof deicient sector instuions wil require sustained effort. The proposed Trasport Rehabilittion Projectis an imortat step owards completing the phased resoraton program for the tansport sector.

4. Rationae for Bank JIvolvemeaL In March 1993, Peru successfully completed a debt workoutprogram and deared its arrears with the Bank and the IMF. ITis allowed a resumption of lending, basedon the Baks country assistance struegy for Peru which was discussed by the Board on April 20, 1993,together with the $250 million Privatzation Adjustnt Loan. Ihe ste has four main objectives:(i to susin stabilization and consoldate stuctua refrms; () to foster private sector development andpublic sector reform; (Iii) to alleviate povety and promote human resource development; and (iv) torehabilitate key infrastrucue and rdorm reated policies. instonal capaiy isfunda_mW to all four strategic objectives. This project will, in padcular, assist the Govenment inaddreing the core iuure defciencies rough rehabiliaion compoentsin the roads, railway,and arport subsecrs. e project also supot policy refrms ftough pvatto of trst sectorenities and sre ng of the restuctured public sector agencies remaining after pritizatoL Iheproposed project would be one of the first investment loans to Peru since 1986.

5. Project Objecives. The project aims to address urgent transport auume needs critical torenewed economic and socid developmeLt. The transport finstuu is in various stages ofdisintegation due to neglect over the last 10 yeas and requires a large amount of immediat iementsto reduce the bacldog. Overstaffing, a common feature of many public sector agencies, has beendrastically reduced following a deliberate government policy to reduce the size of the civil service as wellas liquidtion or sale of state-owned enterprises to the priva sector. Some govrenmnte agencs are nowbaely able to conduct day-t-da operaions becuse of a death of capable staff. Bank support isnecessary to rebuild and strenghe institutonal capabilities of core transport agencies so that they can

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effectively utilize the large infusion of financial resources needed for the restoration of transportinfrastructe and services. The project wil also lay the ground work for future projects, focussing onstrengtiened road management, increased private secoor participation in the transport sector, andimproved mobility of the poor.

6. Project Dlcriptl. The proposed project consists of five components: (a) road rehablUtatonand malmnance, including (i) rehabilitation of six roads totalling 725 kn, which are vital connectionsbetwee the agricult areas of central Peru and the coast; (ii) a bridge program involving theacquisition and recovery of Bailey bridges and the reconstruction of derelict old bridges; (iii) a pilotmai_tenam program focussing on 620 km of road in a specified corridor; (iv) a traffic safety program;and (v) support to govement effots to rebuild an institutional stncture capable of maintig the roadsystem; (b) rllry prMivzadon nd rehbltaon which aims to ensure early privatization of therailways by (i) reducing staff redundancy; (Ji) rationalizing railway debt; (iii) closing down or receivingbudgetary trasfes from Government for unprofitable services; and (ho) urgent rehabilitation to keep therailway in operatig condition while the privatztion process is underway; (c) runway rehabiation atLima aipon which is in urgent need of repair, before it becomes a danger to domestic and intermationalaviation; (d) a plot project for non-motod tranport in lma which will test methods of promotingthe use of bicycles among low-icome residents; and (e) techiel assiance and rainng whih aims to(f) strengthen the institudonal capacity for managing roads and bndges, and support the creaion andfering of an autonomous agency responsible for planning, operating, financing, and admitering thehighway network; (i) build capacity in MTCC to manage environmental issues; and (iii) assist the railwayin its privaization and imroving its management.

7. Ihe totl project cost i8 estmated at US$242 million (including taxes), of which US$43.6 arephyscl and price contingencies. The foreign exchange component of the project is estimated at US$98million (41 percen). The Bank, through this loan, wil finance US$150 million, Germany will fianceUS$38 million for road rehabilitation, while the Governmens contribution will be US$54 million Theproject will complement a US$210 million loan approved by the Inter-American Development Bank inJanuar 1992 for a Highway Repair and Maitenance Project. A breakdoin of costs and the financingplan are shown in Schedule A. Amounts and methods of procurement d disbseme, and thedisbursement schedule, are shown in Schedule B. A tinetable of key project processing events and theStatus of Bank Group Operations im Peru are given in Schedles C and D, respectively. Two maps,showing the national tranwsport system and the Lima bicycle componen, are also attaced. The StafAppraisal Report No. 12309-PE, dated February 17, 1994 is being distributed separately.

8. Ieo Lamed from Past Bank Projects. The design of the Transport Rehabilitation Projectreflects lessons learned from the Bank's itenional experience in the transport sector as well as fromthe prewious transport projects in Peru. KeW lessons include the need to: (1) set up an efficient projectmaagement and coordinating unit usig local profssionas engaged under private sector terms to ensuretimely impleion and adeque monitoring of the project; and (ii) increase the Bank's cost sharingpercentages on key compnen such as project design, supervision, and monitoring in order to ensurethat lack of matching funds does not affect the implementtion of these cri elements.

9. Projec I The Ministry of Transport, Communications, Housing andConstucon (MTCC) will have overall responsibiity for project coordination, and will also be theimplemeing agency for more ta three-qarters of project investments (rebabilitation and maintnaneof roads, runway rehabilitation at Lima airport, and for a large part of the technicd assiste andtring cmpoe). The railway componen will be implemened by the national railway compan

-3-

IIAFER) and the pilot non-motorized transport project will be implemented by the Municipality ofM topolitan Lima (MLM). All project activities will be coordinated by the Project Coordination Unit(PCU) reporting to MTCC. The PCU is incorporated into a "Special Project" under govermntprocedur ensring operional autonomy and private sector employment practices.

10. Project . Efftive n is key to the sustainabiity of infastructurerehabiitation orks. During project prepaion, Goverment has taken de action to reorganize andstengte road maintenance atd to accelerat the retrcring of the railway compay. In addition, theproject futer supports fUture maintae tbrough (a) a pilot road mantnac program, (b) studies onroad adminstration and finance, and on airport maintenance, (c) technical assistance to the road

agency in MTCC, and (d) a qunified condition that sufficient road maintece funds beincluded in the government budget.

11. Agred Asfifns Prior to negotiations, the Goverment confirmed that' (a) coutrpat fundingwill be made available for this project, (b) sufficient resources will be provided for routine mainceof the entire nadona road network, and (c) it wil continue the policy of taxing road users at least heamount spent on road mainnce. Moreover, MTCC (d) formally established the Project CoordinationUnit (PCM) and appointed its Diector; (e) established a unit responsible for environment aspects of thetansport sector; and (i) assisted the ENAFER Privatization Commiee in defining a privatizaon schemeand in establishing a saegy which mntans the railway operational durmg the transitional phase. TheGoverment also submited a detailed schedule on the staffing of the PCU. During the negotiations,agreem was reached on the following:

A. Meet M

(a) The afrangemen for project implenion, including the functions of the PCu, thestafing reqired for the adequate implemenion of railway and NMT componens, andthe fctions and adequate stafling of the transport-envionmentl office in MTCC.

(b) Observance of the Environmental Mamnu for Road Designers and Contractors will bestipulated in all bidding ard contract documes let under the road componem of theproject.

(c) Key indicators and targets for monitonng project performance and achievement of projectobjectives.

(d) Annual reviews will be carried out to assess progress; representatives of cofinancingagencies will be invited to participate in the annual reviews.

(e) A mid-term project review will be carried out no later than 30 months after loanapproval, involving the Bank and the relevant Government and cofinancing agencies, to:fi) assess the overall progress made in project implementation with respect to themonitoring indicators mentioned above; and (ii) consider proposals for restructuring orreorienting the project, responding to relevant sector and project issues, and takingaccount of agreed action plans for policy and/or instutional reforms.

-4-

B. Finnild and 0wer R&q u Ena:

(M) By June 30 of each year, MTCC will submit to the Bank the auditor's report and auditedfinancida of the Speia Account, Project Accous and SOEs for the precedingcalendar yea, audited by idependnt auditors acceptable to te Bak.

() ~For those works under the bridge replacement subcomponent which are estimted to costmore than US$500,000, MTCC wil provide calculations to sow that the IERR is over20%.

(h) MTCC will infom the Bank on the progres of, and ssues considered by its analyses ofroad finance and aistration and submit Its action plan by December 31, 1994.

(i) An annual allocation of not less than US$50 million equivalent, to be agreed by October31 each year, will be made in the budget for the maintnance of aional roads other tlmnthose covered direcdy under the project, dtese funds wil be released in a timely manner.In addition, the Government confrmed the assurance given prior to loan negoations thatit will condmte its policy of levying road user charges in emess of road maintenance

(j) ENAFER will ins proper accunting practices and, stating with fis yer 1994,submit the auditor's report and audited finan saments of its operations for eachyear, within 6 months from the end of that year, audxited by independent auditorsacceptable to the Bank.

(k) Establishment of a coordination committee in MTCC, hiring of consultants forconstcion supervision, and engagement of an independent expert to advise the Ministeror Vice-Mmister of Trsport are prereusites for signing a contract with a constuctionfirm to rehablitate the runway at Lima's airport.

(a) Ihe Govermnent will assume ENAFER's debt (including f#ture arrears pealties andintre due), clear ENAFER's arrears with utility companies, and provide the fundsneeded for the staff restrucring program.

(m) ENAFER will be divided into at least three operating companies.

(n) ENAFER will not undertake any investments over US$5 million per year without theprior agreement of the World Bank.

(o) ENAFER will prepare, by December 31, 1994, a staff training program designed toimprove labor productivity.

C. Cnd Won, of Loa ffeiceness:

(p) Adequate staffing of the PCU, including the Director and personnel with qualificationsand experience acceptable to the Bank.

(q) Estblishment of the local accounts for the respective implementing agencies.

-5-

D. Cende ofDbu

(r) For railway works, equipment and maerials: (I) the Government will submit a timedaction plan acceptable to the Bank, to restructre and privatize ENAFER; (ii) theGovernment and ENAFER will sign a subsidiay loan agreemen satisactory to the Bank,ind (iii) ENAFER will submit the auditor's repoct and audited financial stamue of itsoperations fbr 1993.

(s) For the NMT component: the Governen and MLM will sign a subsidiary loanagreament satisfactory to the Bank.

(t) For bicycles under subloans: the Lima Municipal Bank for Popular Credit (CMCPL) wiUlissue operating structions for its staff acceptable to the Bank.

12. If roIel Impaet The project is rated B for environment assessment. It is not likelyto have scant adverse effects on the ewionment as it would ivolve prmariy m andrehabilitation operations, without major constuction of new infzaacre facilities. The use of anEnvironmental Manual for Road Conaors and the establishment of a tranportt ooffcein MTCC reprsent a signifant advance in this area. Other positive e Impacts would beaciieved due to improved trafflic safety on the project roads. By enabling the railway to provide cost-effcdve servie in onm y senstve areas, including the Cuzco-Machu Picchu conridor, theproject would contrain the growth of motor vehicles and the need to constuct highwys. The pilot NMTprogm provi specid emphasis on environmental improv through n ing e use ofbicyles among the low-inoome popuation in Limt

13. Poety Category. Not applicable.

14. Poject Bef The main project benefit would be a more efildent and cost effective transportsystem that wl stimulate ahigher level of economic activity in the country. The project would conineto remove physical constait in trsport infrastrucue, reduce transport cost for goods and pasengers,and would support exports, farm producion, and the mobility of people. t would help allte ruralpoverty in the poorest areas of Peru, through provision of improved roads and emploVyment generationthrough laborbased road works. The internal economic rate of return from the overall project is 27percent, rangin between 22 and 39 peet for the road rehabilitation schemes, 15 percent for therailway rehabilitation, and 25 percent for the runway rehabilitation at Lima airport.

15. Risks. Possible risks include: (*) widquate provision of counterpart funids for projectimplemeation; (ii) insuffcient budgetary resources for road mamce durig and ater the projet;(1l) ineffective project management, especialy arising from a lack of intituonal capacity of theimplemenlting agencies; (Iv) insufflici nt absorptive capacity of the domesic construction industry; (v) lackof sustained com ent in reorming the railway; and (vi) mishaps or inordinate dels in the high-vislity aiport runway rehabilitation. Finally, the possibility of seurity risks for th contraco duringthe xecution of the works cannot be discoued.

16. Rcm n n I am satisfied that the proposed loan would comply with the Articles ofAgreement of the Bank and recommend that the Executive Directors approve it.

Lewis T. PrestonPresident

Attachments

Washngton, D.C.February 17, 1994

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ScheduleAPage 1 of 2

PERU

TRANSPORT REHABILITATION PROJECT

PROJECT COST SUMbMARY(US$ mon)

PI-, CMPM Lea Fopdg T;oi Total % Forel

Read Reabilaon (uml. Design and Superv.) 53.0 28.6 6.8 88.4 32Bride Rehaiatio (imol. Design and Supesv.) 11.6 7.9 2.7 22.2 36Road Maintenance (ml. Design and Suporvisio) 5.1 2.! 0.7 8.6 33Equipment for Road Laboray 0.0 0.2 0.1 0.3 67Traf Saet y Pmgram 0.3 0.5 0.2 1.0 SODesiWn of Pubte Road Rehabilitation Schemes 2.2 1.2 0.6 4.0 30

Railway Privtzato and Raation 5.9 21.0 8.1 35.0 60

Runway Rehabilitatn at Linam Airpo 8.9 13.8 2.0 24.7 56

Pibot Pojet for NonwMatormied Trtin Lina 2.0 1.1 03 3.4 32

_Te*md A _ftm and Tmmng 2.0 2.8 0.9 5.7 49

Proet m ment 4.1 0 0 4.1 0

SubtothL Base COtss 95. 1 79.9 22A4 M7

PhyicadContingnoe 14.0 11.8 33 29.1

Pui C.Cont e 7.5 6.3 1.7 15.5

GRAND TlOTAL 116.6 98.0 27.4 242.0 41

4-8

Schiple APage 2 of 2

PERU

TRANSPORT IREABILATION PROJECT

MFNANCING PLAN(U5$ namilo)

Pwjet CAe_mi. Govamemnt Ban Germany Total

Road Rehabilitation (incl. Design and Superv.) 18.1 52.2 38.0 108.3Bridge Rehabilitation (incl. Design and Superv.) 5.6 22.2 27.3Road Maintenancei (mcl. Desigp and Superv.) 2.1 8.7 10.8Equipment for Road Laboratory 0.1 0.3 0.4Taffc Safety Program 0.2 1.0 1.2Design of Fuure Road Rebabilitation Schemes 0.7 4.1 4.8

Railway Prvatization and Rehabiitation 10.5 31.7 _ 42.2

Runway Rehabilitation at Lima Airport 8.6t 21.6 _30.2

Pilet Project for Non-Motorized Trspt in Lima 1.0 3.1 4.1

Tecbnical Assistae and Training 2.1S 5.0 = 7.1

Project Management 5.0 0.1 5.1

GRAND TOTAL 54.0 15.0 38.0 242.0

t ncludg US$5 milbe co.tibutiof OPEC Fud for Itnaonl Dvwopmean* Vau.ed J _apan.. techia asia .gat (US$1.1 Malo.

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Pace I of 2PERu

TRANSPORT REHAUTATION PROJECT

PROCUREMENT ARRANGENOTS(135$ mnliion)

project Ilmat ICa LCB Other N.B.F. Totli

Road and Aiport Wos 66.1 19.0 1.7* 40.1t 126.9(52.) (15.2) (1.4) (0.0) (69.2)

Airpot Woks 26.7 26.7(18.7) (18.)

Railwq R _hsblltatia 1.6 1.6(1.3) (1.3)

ConUcion of Bioowapys and AssWocaedW 2.6 0.3* 2.9(1.8) (02) (2.0)

fholand MkWatahAoquisito of non-Rallwq Equimnt & Meia 3.6 0.7 0.3* 4.8

(2-7) (0.5) (0.4) (3.6)

Aqusio of Railway Equipmt Matoials 31.8 6.8 2.0* 404t23.8) (5.1) (1.3) (30.4)

iyoles under Subloans 0.6# 0.6(0.6) (0.6)

C _ouing SUMces and Taing 29.71 3.1t 32.8(24.1) (0.0) (24.1)

Pec _ Mangent 0.1* 5.0t 5.1. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ (0.1) ( .0) ( .1)T(rAL 128.2 30.7 34.9 48.2 242.0

(97.8) (23.9) (28.3) (0.0) (150.0)

Fiur lApaateo are the raeeive aounba fmet b1 the Bank loa. NJ.!'.: Not Bsa-Pimnaed.

11 eSvioeto bepowiureda a daewWd Bonk Guiail Use ofComutebyWatab dRWdDo B aBweand by tweWi BankExecuting A Wcy(sngto. DC, Augt1981). About $1.1 m llion to bo fided uml er lap_ t al

t PAad by Gainu and looa a B cipat floe.* PemldlofPjeoordandanUalLI Biwy*le puras by usr uder crdi schme

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Schedule BPage 2 of 2

PERU

TRANSPORT REHABIUTATION PROJECT

D}SURSEMENTS BY CATEGORY(US$ millon)

Cateo AmowaO DOabusewet Rate

Chvil Wob for Road s Airpot Rehabi 63.0 80% af expedur

Civil Wo for Arpot Rehabtaon 17.0 70% of ependitur

Civil Wo*s for Ralway Rehabiit _ _ n 1.1 80% of ependitur

Cmaoo of Bicycleways, and Aswoiawed WoIks 1.7 70% of epeditue

Acquistn of Non-Railway Equipment and Meals 3.1 100% of forin expenditu (net of ta)75% of local expedtr

Acquisto of Railwy Eqimnt and M jae 29.0 100% Of forn ',, ex_pendtUe (net Of tU)! ________________________________ _______ 75% of loc expen itures

Bicyles uader Subbons 0.6 100% of exediure

Conting SeieS and Trnng 21.0 100% of epnditu net of tax

pp| 1.5

UnaUlocated 12.0

T,rA == 50.0 L|1

ESTDATED DISBURSEMENTS(US$ milion)

1994 1995 1996 1997 1998 1999

Annual 15.0 30.0 48.0 36.0 18.0 3.0

Cumulative 15.0 45.0 93.0 129.0 147.0 150.0Cuu_ v . ._j

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PERU

TRANPOiT REABILITATION PROJECT

Timetable for Key Pject Proeing Events

(a) Fime taken to prepare: 24 months

(b) Preae by: MTCC, ENAFER, and MLM with Bank assistance

(c) Appraisal mission departure: June 1993

(d) Negotato: December 1993

(e) PlanWed date of effectiveness: May 1994

(.) List of relevant PCRs: Eighth Highway Project (Loan 2091-PE) - ProjectCompledon Report

Aviation Development Project (Loan 1963-PE) -Project Completion Report

-12-SCHED= D

TsSATUS OF BANK GROTJP QEUNSU IN PERU

A. STATEMENTQE LOSS

(As of Decmber 31, 1993)

Amount lessLM~~ H lad UK am sdo

(US$ mi1lion)

Sixy fur loans fAlly disbursed 1,801.7

of which Prorm Loana

1693 1979 Perw Pro.uram Loaw

3489 1992 Peru Finac Sector Adjustment 400.0 100.03540 1993 Peru Privatiuztion T. A. 30.0 30.0*3595 1993 Peru Prvatiution A4justmt 250.0 175.03610 193 Peam EV & Mining T.A. 11.8 11.83684 1993 Peru Social Devdopmen & Compeatn o U I0.

TOTAL 2,593.5

of wbick ha been repaid

Total now out,mding 676.7

Amount sold 18.3of whick has been repaid

Total now held by Bank

Totl undisbursed1C

* SECAL, SAL or Progm LAn

I, Appoved duig PY79

NOrE: The stsbts of the proects listed in Part A is desribed in a seprate report n adl BankIDA fiucedproects in execution, whih is updated twic yeary and cislated to the Executive Diret an Apil 30and October 31.

-13- SCHEDULE D

B. STATEMENT OF IFC 2WVEXM IN PERU(As of Decmber 31, 1993)

USS Million

120 Borrower . Meof SBwiness Ls E&D

1979/83186190/93 Buenxvmntm Metal Ore Miing 6.00 3.63 9.631986 CARISA Non-Fetrous Ore Mining 6.00 0.50 6.501962 Cemento Andino Cement Lime & Pl_ar 2.46 0.20 2.661982 Conenhua Electric Lit & Powet 4.50 - 4.50

1975 Peru Copper Non-Ferous Ore Ming 15.00 15.001960 Durisol Fabric Metal Products 0.30 - 0.301960/62 Fertlirntes Fertilirs & Pesices 4.09 - 4.091960 LUm Non-Motallic Minea PR 0.28 - 0.281985 Minue Regina Non-Ferrous Ore MiXng 6.08 0.24 6.321986 Orcopmpa Non-Feaous on Ming 9.00 - 9.001964/67 Pacaiayo Cement Lime & Plaster 1.60 0.50 2.101983 PalmeM Vegetable & Animal Oil 15.00 - 15.00

1986 Poderoa Non-Ferru Ore wining 3.30 - 3.301960 Reumidas Fabric Met Products 0.25 - 0.251980/85 SIMSA Non-Ferrous Ore Mining 6.70 0.50 7.201982192 SOGWESE Lsing Companis 13.00 1.57 14.571993 Qudlaveco Non-Ferrous Ore Min - 6.22 6.221994 Yan_cocha Non-Feaous Ore Minng 0 Q33

Total Gross Commitment 119.90 13.68 1334.58Less CancellUadons, Teminatiows

and Sales 9 10.13

Total Commitmet now held by IFC 20.55 10.90 31.45

Total Undisbursed 00 .64 L

..PERU . IBRD 25105

P E R UTRANSPORT REHABILITATION PROJECT ToAncdn ToAnc6n

PILOT PROJECT FOR NON-MOTORIZED TRANSPORTLIMA

a

,III BICYCLEWAYS TO BE BUILT

TARGET AREA OF INDUSTRIAL EMPLOYMENT

MAIt ROADS

| |-I- ENAFER RAILROAD

INTERNATIONAL BOUNDARIES

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