Document of

The World Bank

FOR OFICIAL USE ONLY

C•42. Ri5TH- f 2 AkReport No. P-5333-PAK

MEMORANDUM AND RECOMMENDATION

OF THE

PRESIDENT OF THE

INTERNATIONAL DEVELOPMENT ASSOCIATION

TO THE

EXECUTIVE DIRECTORS

ON A

PROPOSED CREDIT

OF SDR 44.4 MILLION

TO THE

ISLAMIC REPUBLIC OF PAKISTAN

FOR AN

AGRICULTURAL RESEARCH II PROJECT

MAY 21, 1990

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

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CURRENCY EOUIVALENTS(June, 1990)

Pakistan Rupee - 100 paisaUS$1.0 (at June, 1990) - Rs. 21.6

Rs. 1.0 - US$0.05

WEIGHTS AND MEASURES(Metric System)

Metric Unit British/US Equivalent

1 meter (m) 30.37 inches (in)1 kilometer 0.62 miles (m)1 hectare (ha) 2.47 acres (ac)1 square kilometer (kn2) 0.386 square miles (sq.mi.)1 liter (1) 0.264 US gallons (US gal)1 kilogram (kg) 2.205 pounds (lbs)1 metric ton (ton) 2,205 pounds (lbs)

ABBREVIATIONS

ARP I - Agricultural Research I Project (Cr. 1158-PAK)GOP - Government of PakistanGOProvinces - Governments of the ProvincesIPM - Integrated Pest ManagementNARC - National Agricultural Research CenterPARC - Pakistan Agricultural Research CouncilPRMP - Provincial Research Master Plan

FISCAL YEAR

July 1 to June 30

FOR Ofm CIUL USE ONLY

PAKISTAN

AGRICULTURAL RESEARCH II PROJECT

CREDIT AND PROJECT SUMMARY

Borrower: Islamic Republic of Pakistan

Beneficiaries: Pakistan Agricultural Research Council, and AgriculturalResearch Systems of Punjab, Sind, Baluchistan and North-WestFrontier Provinces.

Amount: Credit: SDR 44.4 million (US$57.3 million equivalent)

Terms: Credit: Standard, with 35 years maturity.

Onlending Terms: Not applicable.

Financing Plan: GOP US$11.0 millionGOPunjab US$ 5.4 millionGOSind US$ 4.3 millionGOBaluchistan US$ 1.8 millionGONWFP USS 2.1 millionIDA USS57.3 million

TOTAL USS81.9 million

Economic Rateof Return: Not applicable.

Staff Appraisal Report: Report No. 7614-PAK

MaR: IBRD 21279

This document has a restricted distribution atnd may be used by recipients only in the perfomiance|of their ofrlcial duties. Its contents may not otherwise be disclosed without World Bank authorizatio

MEMORANDUM AND RECOMMENDATION OF THE PRESIDENTOF THE INTERNATIONAL DEVELOPMENT ASSOCIATION

TO THE EXECUTIVE DIRECTORSON A PROPOSED CREDIT

TO THE ISLAMIC REPUBLIC OF PAKISTANFOR AN AGRICULTURAL RESEARCH II PROJECT

1. The following memorandum and recommendations on a proposed developmentcredit to the Islamic Republic of Pakistan for SDR 44.4 million (US$57.3million equivalent) is submitted for approval. The proposed credit would beon standard IDA terms with 35 years maturity and would help finance anAgricultural Research II project.

2. Background. Agriculture in Pakistan accounts for 22X of GDP, employs52% of the labor force and contributes 551 of export earnings. During theSixth Five Year Plan (FY84-FY88) agricultural output grew at some 3.81annually against a plan target of 4.9% per year. Although Pakistan hasattained self-sufficiency in wheat production, and has become a major exporterof cotton and cotton products, the agricultural sector is constrained bystructural and institutional weaknesses, and is still characterized by lowproductivity and yields in most subsectors. Faced with a rapidly growingpopulation (3.11 annually) and limited opportunities for increasing the areaof land under irrigated or dryland cultivation, Pakistan will have to increasethe productivity of existing farmland to maintain its self-sufficiency inbasic food crops, such as wheat and maize, and meet the increasing demand forother agricultural commodities. Pakistan also aims to improve small farmerincomes, diversify agricultural production into higher value crops(horticulture, livestock), increase agricultural exports, substitute localoilseed production for imports, and reverse the degradation of its land, waterand forest resources. While the sector requires investment in ruralinfrastructure (irrigation rehabilitation, drainage, salinity control,farm-to-market roads), it also needs considerable development in research andextension services to improve the productivity of existing resource use, openup new opportunities for small farmers, enable sector diversification, andpreserve the agricultural resource base.

3. Substantial inputs from the Government of Pakistan (GOP) with Bank andother donor assistance have gone far to establish a viable federalagricultural research system. However, such is not the case at the provinciallevel, and it is clear that if Pakistan is to have an effective agriculturalresearch service to benefit most of its farmers, the provincial agriculturalresearch services need strengthening. Several subsector reviews haveidentified the following major constraints in the provincial agriculturalresearch systems: (a) ineffective planning, programming, monitoring andevaluation of research pertinent to farmer problems; (b) insufficient trainingand research qualifications of many of its scientists; (c) inadequateoperating funds to conduct meaningful research; (d) inappropriate systems ofstaff service; (e) insufficient understanding of farming systems and littleon-farm research to remedy priority problems; and (f) ineffective linkages

with the extension services for effective transmission of demonstratedimproved technology to farmers.

4. Rationale for IDA Involvement. The project forms an integral part ofGOP's agricultural sector development strategy which IDA supports, and whichaims to expand the ongoing program of assistance to agricultural research andextension, and to support ongoing investments in irrigation rehabilitation,drainage, and agricultural resource protection and management. It focusesmainly on improving provincial research planning, administration and executionand, together with the Agricultural Research I Project (Credit1158-PAK)(ARP I), which established the Pakistan Agricultural Research Council(PARC) as an autonomous national research agency to provid- researchleadership and coordinate and guide research in Pakistan, and planned futureassistance to research, is a part of a long-term effort to substantiallyimprove agricultural research throughout Pakistan. The strengthening ofresearch and extension is pivotal to improving agricultural productivity,output and income, expanding diversification, and increasing export earningsand import substitution. IDA!s involvement in the project will help ensurethat GOP's program to improve overall research capabilities moves ahead asquickly as possible, provincial research administrations are reorganized, anda high-priority research program emerges which will support GOP's investmentin agricultural extension. USAID, the only other donor likely to support thislarge program, is already assisting two large research projects (which theproposed project would complement), and is unlikely to finance another in thenear future.

5. Proiect Objectives. The proposed project's objectives are to:(a) improve and strengthen research capabilities in the provinces;(b) consolidate and complement the advances achieved under ARP I at thefederal level, that is, within the Pakistan Agricultural Research Council(PARC) and the National Agricultural Research Center (NARC); (c) support highpriority research programs at the federal and provincial levels; and(d) improve and strengthen research/extension linkages. The project is partof a planned stage-by-stage program of IDA assistance to the researchsubsector and, while mainly supporting the provincial research systems, itwould also continue to develop the capabilities of federal research systems toplan, monitor, evaluate and coordinate agricultural research at the nationallevel.

6. Project Description. The project would be IDA's first large-scaleassistance to the provincial research services, and would strengthenprovincial research planning and management by establishing a semi-autonomousresearch organization in Sind which would merge its crops, livestock andfishery research, and Agricultural Research Boards in Punjab and Baluchistan.It would provide each of these bodies a management support unit or secretariatto assist with research planning, monitoring and evaluation, and would prepareprovincial research master plans (PRMP) to cover the next ten years for eachof the four provinces. The project would support the provinces, using afarming systems approach, undertake diagnostic studies of the mainagro-ecological zones to develop appropriate research programs to solve thefarmers' most critical productivity problems and improve research/extension

- 3 -

linkages. It woul1d also support, through both national/provincial coordinatedresearch programs and provincially funded research programs, research onhorticulture, livestock, soil science, integrated pest management (IPM), andsocial sciences. Following the preparation of the provinces' PRMPs, theproject would provide funds for new items of provincial priority researchidentified in PRMPs.

7. To continue the development of federal research systems which beganunder ARP-I, the project would strengthen PARC's Social Science Division, and

- expand its Planning Directorate to give it a greater capacity for researchplanning, monitoring and evaluation. At NARC the project would construct anew crop sciences office block, a community center and some 5 km of linkroads. It would also support NARC's development of research programs inhorticulture, livestock, soil science, IPM and social sciences to enable WARCto more fully complement provincial programs in these areas. Finally, itwould initiate and expand research programs in Pakistan's mountainous,northern area, and provide technical assistance and training at both the.federal and provincial levels.

8. Proiect Costs and Financing. The project, to be implemented overseven years, has an estimated total cost of US$81.9 million equivalent with aforeign exchange component of US$51.8 million (631). IDA's Credit of SDR 44.4million (US$57.3 million equivalent) would finance 70X of project costs, or100l of foreign exchange costs and 18X of local costs. Schedule A shows abreakdown of project costs and the financing plan, while Schedule B showsamounts and methods of procurement and disbursements, and the procurementschedule. Schedules C and D give a timetable of key project processingevents, and the status of Bank Group operations in Pakistan. The attached mapshows the main agricultural research institutions and agro-ecological zones inPakistan, while the Staff Appraisal Report, No. 7614-PAK dated May 21, 1990,is being circulated separately.

9. Agree_d Actions. At negotiations GOP and the provincial governments(GOProvinces) agreed on the following: (a) Sind would establish asemi-autonomous research organization by June 30, 1991, while Punjab andBaluchistan would change Public Service regulations to improve the recruitmentand promotion of agricultural research staff and establish new AgriculturalResearch Boards by June 30, 1991; (b) the four provinces would establishmanagement support units to assist with research planning, monitoring,evaluation, and project implementation by December 31, 1990; (c) PARC wouldestablish its new Planning Directorate by December 31, 1990; (d) PARC and theprovinces would meet periodically (every three months) during PRMP preparationto ensure a degree of uniformity in approach; (e) Punjab and Sind AgriculturalUniversities would enter into twinning agreements with overseas universitiesto assist upgrade their Agricultural Economics and Rural Sociology, andAgricultural Social Sciences faculties, respectively, by June 30, 1991, andalso sign a memorandum of agreement with PARC for funds to finance thetwinning arrangements and social science research by December 31, 1990;(f) the provinces would only use the research funds provided for provincialpriority research for programs identified and specified in PRMPs as approvedby IDA; (g) by December 31, 1990 the provinces and PARC would each sign a

- 4-

contract to employ an internationally recruited consultant firm to assist inintroducing methodologies to assess the priority of research investments,establish or strengthen research monitoring and evaluation, prepare PRMPs(provinces only), undertake diagnostic surveys of the major farming systems(provinces only), initiate and strengthen research programs in the priorityareas of horticulture, livestock, soil science, IPM, and social sciences, andplace and administer long and short-term trainees in foreign universities andprograms. The signing of these contracts would be a condition for disbursingagainst civil works, equipment, furniture, books and journals, training andincremental operating costs except for a small amount to cover urgent initialexpenditures; (h) the Soil Survey Institute of Pakistan would employinternationally recruited consultants to assist in computerizing soil sciencedata by December 31, 1990; (i) PARC would employ consultants to assist designthle crop sciences building, and help with other project implementation mattersas needed; (j) the provinces would appoint working groups to prepare PRMPs byOctober 31, 1990, submit the first PRMPs to IDA for review by August 31, 1992,annually update PRMPs and send to IDA for review by March 31 each year, andprovide adequate capital and operating and maintenance funds each year toimplement PRMPs; (k) PARC would define broad national research priorities andestablish guidelines for the allocation of resources to these priorities byNovember 30, 1990; (1) GOP would provide PARC adequate funds to enable it tosuccessfully implement its long-term research plans as contained in theNational Master Agricultural Research Plan; (m) PARC and the provinces wouldeach, jointly with IDA, assess project implementation at the end of theproject's first two implementation years, that is, not later than November 30,1991 and 1992, and would make any needed changes in project design orimplementation; and (n) PARC, assisted by internationally recruitedconsultants, would undertake a mid-term review of the project no later thanJanuary 31, 1994, and would implement any changes in project organization ordesign agreed with IDA.

10. Benefits. The project would upgrade and strengthen the provincialresearch effort, improve the efficiency and effectiveness of resourcesallocated to research, and build sustainable research systems, sensitive tonational and provincial priorities, and the critical production problems whichfarmers face. Strengthening of key research programs, and closerresearch-extension-farmer linkages should translate into technology to helpfarmers to overcome the key bottlenecks to enhanced production and therebyraise their incomes.

11. Environmental Effects. Project activities would contributesubstantially to improving and safeguarding the agro-ecosystems. The projectwould establish integrated pest management programs throughout Pakistan whichwould reduce the use of pesticides and pesticide contamination of food andpollution of water resources. The soil science programs would concentrate onwork which would increase the efficiency of irrigation water use, reducewater-logging, reclaim saline soils, improve the design of drainage systems,and design techniques for water harvesting and storage in rainfed areas.Livestock programs would look at regenerating rangelands and other grazingareas, and introducing livestock production systems which allow thesustainable use of these areas. Lastly, the project would finance

- 5 -

multi-disciplinary research programs in the Northern areas of Pakistandirected at not only increasing agricultural production but also improving andprotecting the land and water resources of the area.

12. Risks. The main risks are resistance to major institutional changes,inadequate funding and farmers possibly not adopting research recommendations.Technical assistance and training would facilitate the institutional changes.Improved research planning, resource allocation, monitoring and evaluationwould promote a more efficient use of research resourcesas well as promoting astronger case for adequate resource allocations thereby lessening fundingconstraints. Formulating research programs with a farming systems perspectiveand attention to strong research-extension-farmer linkages should ensureresearch program relevance, and farmers' acceptance of the programs.

11. Recommendation. I am satisfied that the proposed Credit would complywith the Articles of Agreement of the Association and recommend that theExecutive Directors approve the proposed Credit.

Barber ConablePresident

Attachments

Washington, D.C.May 21, 1990

P,AKI;TAN

AGRICULTURAL RESEAC II PROJECT

Estimated costs and Financing Elan

Estimated Costs: la

Local ERreign Total

-(US$ million) -

PARC 4.5 5.3 9.8Punjab 6.2 8.8 15.0Sind 4.1 7.4 11.5Baluchistan 1.6 4.2 5.8North West Frontier 2.0 5.0 7.0Federal Support to Provinces 5.4 5.5 10.9Ag. University Faisalabad 0.7 2.5 3.2Sind Ag. University 0.3 2.8 3.1

Total Baseline Costs 24.8 41.5 66.3

Physical Contingencies 0.8 3.6 4.4Price Contingencies 4,5 6.7 11.2

Total Project Cost ,30,1 18 81.9La

/ Includes US$6.9 million taxes and duties.

Financin- Plan:

Local Foreign Total

-------- (US$ million) --------

GOP 11.0 - 11.0GOPunjab 5.4 - 5.4GOSind 4.3 - 4.3GOBaluchistan 1.8 - 1.8GONWFP 2.1 - 2.1IDA 5.5 51.8 57.3

Total 1.1 51.8 81.9

AQEDULLPage 1

AGRIULTURAL RESEARCH IT PROJECT

Zrocurement Method #ad Disbursementa(US$ million) IA

--- Procurement Method -----Total

Project Element ICB LCB Other NA Ak Coal

Civil Works 0.9 3.9 - - 4.8(0.5) (2.4) (2.9)

Vehicles - - 3.21i - 3.2

Machinery & Equipment 5.1 - 4.2 - 9.3(5.1) (3.2) (8.3)

Collaborative Res. - - 0.5 - 0.5(0.5) (0.5)

Local Training - - 1.0 - 1.0(1.0) (1.0)

Foreign Training - - 26.0 - 26.0(26.0) (26.0)

Tech. Assistance - - 8.7 - 8.7(7.0) (7.0)

Incremental Salaries - - - 9.1 9.1

Incremental Research Costs /d - - 19.3 - 19.3(11.6) (11.6)

Total 6.0 3.9 62.9 9.1 81.9(5.6) (2.4) (49.3) (57.3)

La Including taxes, duties, and contingencies. Figures in parantheses are therespective amounts financed by the IDA Credit.

Ab Procurement procedures are not applicable.tc Reserved procurement.td Including office supplies, materials, fuel, labor, travel, and vehicle and

machinery O&M.

Page 2

CA16gorY Aount X(US$ million)

1. Civil Works 602 of expenditures

(a) PARC 1.9(b) Punjab 0.3(c) Sind 0.2(d) NWFP 0.03(e) Baluchistan 0.006

Subtotal 2.436

2. Motorcycles, machinery, 1001 of foreign expenditures;equipment, furniture, 100. of ex-factory prices ofbooks and iournals locally manufactured items;

601 of local costs forimported items purchasedlocally.

(a) PARC 2.3(b) Punjab 2.3(c) Sind 1.4(d) NWFP 0.7(e) Baluchistan 0.6

Subtotal LI

3. Training and Collaborative 10O1 of expendituresResearch

(a) PARC 10.4(b) Punjab 3.6(c) Sind 4.1(d) NWFP 3.0(e) Baluchistan 2.8

Subt.2tal 23.

4. Technical Assistance 801 of expenditures

(a) PARC 1.7(b) Punjab 1.4(c) Sind 1.3(d) NWFP 1.1(e) Baluchistan 0.9

Subtotal 6.4

-9-

Page 3

Catetorv Amount _ ___ X(US$ million)

5. Incremental Research 80X of expenditures untilOoerating Costs US$5.3 million disbursed;

60X until US$9.3 milliondisbursed; then 401.

(a) PARC 4.4(b) Punjab 3.3(c) Sind 1.7(d) NWFP 1.1(e) Baluchistan 0.6

smfbtotal IL.I

6. Unallocated

(a) PARC 2.5(b) Punjab 1.3(c) Sind 1.2(d) NWFP 0.67(e) Baluchistan 0.494

Subtotal 6,164

Total 57-3

Estimated Disbursements:

Fiscal Year91 92 93 94 95 96 97 98-- (US$ million) ----------------------------

Annual 4.0 3.0 7.0 11.0 12.0 9.0 7.0 4.3Cumulative 4.0 7.0 14.0 25.0 37.0 46.0 53.0 57.3

SCHEDULE PSTATUS OF BANK GROUP OPERATIONS IN PAKISTAN Page 2

A. STATEMENT OF BANK LOANS AND IDA CREDITS (as of March 31, 1990). .......................... ...........................................................

(US$ million)Loan/ (Amount nat of cancellationCredit Fiscal Undis-Nutber Year Borrower Purpose Bank IDA bursed

Cr. 1755 b/ 1987 Republic of Pakistan Third Technical Assistanee 7.0 5.3Cr. 1762 b/ 1987 Republic of Pakistan Ag. Extension IV 42.1 37.5Cr. 1821 b/ 1987 Republic of Pakistan Third Primary Education 14S.0 135.7In. 2792 1987 Water/Power Auth. Power Plant Efficiency 70.0 60.9Ln. 2814 1987 Republic of Pakistan Fourth Nighways 152.0 - 123.7Ln. 2839 198? Republic of Pakistan Third Small Industries S4.0 - 48.9Ln. 2842 1987 State Petr./Petroch. Refinery Energy Conservation 21.0 17.8Ln. 2884 1988 Republic of Pakistan Cement Industry Modmrnization 96.0 - 93.9Cr. 1888 1988 Republic of Pakistan Second Irrigation System Rehab. - 79.5 74.1Cr. 1895 1988 Republic of Pakistan Punjab Urban Developtment - 90.0 78.6Cr. 1936 1988 Repubtic of Pakistan National Oilseed Development 20.0 17.3Ln. 2973 1988 Republic of Pakistan National Oilseed Development 31.4 - 31.4Ln. 2982 1988 Republic of Pakistan Private Sector Energy Development 150.0 - 150.0

* In. 2986 1989 Republic of Pakistan Agriculture Sector Adjustment 200.0 - 102.1Cr. 1982 1989 Republic of Pakistan Industriat Investment Credit III - 2.0 1.9Ln. 3019 1989 RepubLic of Pakistan Industriat Investment Credit III 148.0 - 142.5Cr. 1987 1989 Republic of Pakistan Karatchi Water Suppty - 125.0 120.6

* Ln. 3029 1989 Republic of Pakistan Finaneial Sector Adjustment 150.0 - 75.0* Ln. 3107 1989 Republic of Pakistan Energy Sector Ln. t1 250.0 - 215.0Cr. 2003 1989 Repubtic of Pakistan Ftood Restoratihn - 40.0 27.0Cr. 2004 1989 Republic of Pakistan Private Tubewell 34.4 34.0In. 3147 c/ 1990 Water/Power Auth. Power Transmission & Extension 162.0 - 162.0Cr. 2078 c/ 1990 Republic of Pakistan Rural Electrification - 37.0 37.6Ln. 3148 c/ 1990 Republic of Pakistan Rurat Etectrifieation 123.0 123.0Cr. 2102 c/ 1990 Repubtic of Pakistan Sindh Primary Education 112.5 110.1

Total 3808.4 3226.1 2835.5of which has been repaid 678.1 105.4

Total now outstanding 3130.3 3120.7AmoLmt sotd 33.5 12.0of which has been repaid 27.8 12.0

..................

Total now held by IBRD/IDA 3096.8 3108.7

Total undisbursed 1592.9 1242.7 2835.5

. ...................................................... ..................... ..................................................

a/ Approved During or After FY80.b/ IDA Credits under the 6th and 7th Reptenishments are denominated in SORs. The

principat and non-effective Credits are shown in USS equivatent at the time ofnegotiations. Disbursed amounts are cooputed at the excharge rate applicableon the transaction dates. Undisbursed amounts are vatued at the exchange rateapplicable on the date of this statement.

c/ Not yet effective.

SCHEDULE DPage 3

STATUS OF SANK GROUP OPERATIONS IN PAKISTAN.............................................

S. STATEMENT OF IFC INVESTMENTS..................................

(As of March 31. 1990)

Investment Fiscal Amount US$ Mittion

Number Year Obligatc Type of Business Loan Equity Total

140 1958 Steel Corp. of Pakistan Rolled Steel Products 0.63 - 0.63

90 1959 Adsmjee Industries Ltd. Textiles 0.75 0.75

40/920 1962/65 Gharibwal Cement Cement 5.25 0.42 5.67

Industries Ltd.

6550-52 1963/69/ PICIC Developing Ffnance 3.63 3.637610-7611 75/89

870 1965 Crescent Jute Products Textiles 1.84 0.11 1.95

910/5070/ 1965/80/ Packages Ltd. Paper Products 26.01 1.01 27.026150-51/ 829280-81

1230-31 1967/76 Pakistan Paper Corp. Ltd. Paper 5.38 2.02 7.40

1330 1969 Dawood Hercules Fertilizers 18.30 2.92 21.22Chemicals Ltd.

4570-73/ 1979 Milkpak Ltd. Food S Food Processing 2.40 0.40 2.809410

4720-21/ 1979 Pakistan Oilfields Ltd. Chemicals & Petro- 29.00 2.04 31.04

6060/6800 3nd Attock Refinery Ltd. chemicals

5060 1980 Fauji Foundation woven Polypropylene Bags 1.78 - 1.78

984 1988 Fecto Cement Cement and Construction 18.58 - 18.58Materials

953/1161 1987/89 Anglo Suisse Cheticals and Petro- - 6.80 6.80chemicals

5080 1980 Premier Board Mills Ltd. Particle Board 2.70 - 2.70

9790 1988 Millat Tractors 4.90 - 4.90

5760-61 1981 Habib Arkady Food & Food Processing 3.15 0.16 3.31

6210 1982 Asbestos Cement 3.50 0.51 4.01

...... .Continued .

SCHEDULE DPage 4

STATUS OF BANK GROUP OPERATIONS IN PAKISTAN,.,.... .. ...... ...... _........

S. STATEMENT OF IFC INVESTMENTS..................................

(As of March 31, 1990)

Investment Fiscat Amtmt USS hillion

Number Year Obtigator Type of Business Loan Equity Totat.................... ........ .... ....... .... ..................... ................. .... ..... . ......... ........ .......

6550-52/ 1983 Pakistan Petroletn Ltd. Chemical ard Petro- 104.50 1.56 106.067610-11 cehmicals

1069 1989 Shams Textite Textiles and Fibers 2.76 - 2.76

7500-7501 1985 National Development oney and Capital Market 5.49 0.37 5.86Leasing Corp.

1070 1989 Suraj Cotton Textiles and Fibers 2.76 - 2.76

1l1Z 1989 Nala Spiming Plant 3.27 * 3.2?

8220-8223 1986 Mari Gas Chemicals ard Petro- 46.53 - 46.53Chemicals

1220 1990 Pakistan Suzuki Motor Vehicles and 15.14 - 15.14Accessories

1204 1990 Rupati Textiles and Fibers 19.56 19.56

Total Gross Coamitments 324.18 21.95 346.13

Less Canceltations, Terminrations, 234.10 12.58 246.68Repayments and sales ...... ...... ......

Total Comaitments Now Held by IFC 90.08 9.37 99.45

Undisbursed (including participants) 39.70 1.61 41.31

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