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                                                             ST 7        ATI
                                                           LI OI A BBREVI O NS


             ADB                                 ri       opm
                                              Af can D evel entBank
             ADF                                 ri       opm
                                              A f can Devel entFund
             AFC                                 iulurl n c     por i
                                              Agrc i flFian e oor aton
             C$P                                 l r r egy
                                              Cotnty St at Paper
             CTC                                  r    af i     r
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             MA                                     i
                                              Executng A gency
             EIB                              Eur       nves m
                                                 opean I t ent Bank
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                                              Enhan ed Stu tr Adi t Fa k.y ..                                           , .




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                              TA BLE O F CO NTENTS
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                                                                    Page

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    Exlctel S J                                                        -i
                                                                      ii

    INTROD UCTION                                                       1

    REV I           G N
         EW O F O N - O I G PROJECTS                                    1

           z nd         ii     he   tolo
          Si e a Com poston of t Porf i

          The A grculur Sect .
                  i t al   or                                          2

    B.    The lndus ralSe or
                   t i ct                                              4

          The Pu i Ut ltes Sec or
                blc iii       t                                        8

             un por c or
    D . The Ti s tSe t                                                13

                                 O
3. GENERAL ASSESSM ENT OF PORTFOLI PERFORM ANCE                       15

                                       M           ON
    ASSESSM EN T O F M A NA G EM EN T I PLEM ENTATI CA PACITY         17

                           NG
    ASSESSM EN T O F LEN DI STRATEG Y A N D EX PERIENCE               17

             s s
          A s es m entof Pr ous Le n Sta eg . . .
                           evi    ndi g r t y                         17
                                            '
                                        .
    5.
     2       k oup Stat gy and Ien n Pr am m e
          Ban Gr     re        - di g ogr                             18

6. DEVELOPM ENT PARTNERS AND HOST COUNTRY COORDINATION                18

7. LO A N REPA Y M ENTS A N D ARREA RS                                19

8 CONCLUSI
 .                            ON
         ONS AND RECOM M ENDATI ...                                   19

      1 l cl i
    8. C on us ons . . . . . . . . .. . .. - . .                      19
    8. M eas es t Inpr t Por f i . .
     2      ur o l ove he tolo                                        19
    8. Recom m endaton .
     3              i                                                 20


  ST
LI OF AN N EX ES

1. Sun m a y ofBank Grl Ope atons ... .......
      x r             lup  r i                                    Annex I
                       n
2. Su r Pe f r n e Raig b S co a d Prjc .....
     mmay ro ma c t y e tr n oe t                                Annex 11
        r
3. Summay ofIdi dualPr e Perbr nc Ase s
            n vi     oict l ma e ss ment...                     Annex IH
                                          V
                                  EX ECUTI E SU M M A RY

        .    s - ' evi
               ep t      he t us        ou    ri      nd.h on tai s fe i g
        3. Thi l ol r ewst sat ofBank Gr p ope atons a t e c sr nt a f ctn
         rj c lpll t ain n l a we t o cu e t o e o n ain s l s
               l    n        n
        p ce til ent tto i Zi b b . I c n ld swih s me rc mme d to sa wela
         e nt c i' a       y h he Ba nd       nm nt o  nc    tolo r or nc
        r ce a ttns t kçn b bot t ' nk a Gover e t enha e por f i pe f m a e

            nc he       t td   a i n mbal n 982,t t fve l ns a f
        2. Si e t Bank sare oper tons i Zi i i 1
                                    '   '
                                           we    wen y-i oa nd our
                                                           '    -
                                                                '   '
    .                                       .
.
         rn sh v e n p r v d o ia c sxe n rj cs t re ie f rdi, n oi - a e c
        g a t' a eb e à p o e t fn n e.ite p o e t, h e In so c e t o ep l y à sd.



         peai a ' ù r tdiN tl o t t, e f a c l i s r s f ly
                  n               l      me                ao
        ö rton ' d f p ju e .Tot e mmi ns n tg c n elt n ,wee,a o 31 li         t
                  3.   li       ch U     48 l 4 5;
                                              i          sr        e our es
        1997,UA 51 05 milon,ofwhi . A 438. m ilon.8 5%)wa fom ADB r s c
         nd      5 li ( 4. %     sr                 9%   he
        a UA 74.7 milon'1 5, ) wa fpm ADF. About7. of t ADF c        t nl
                                                                omm im e
        a     i o      86 li     s n le br         ant.      a ie s s meht as
         mountng t UA 5. milon wa i tl t m ofTAF gr s Cumul tv dibur e    s
         f    ul 997 t        51 7    lil
        o 31 J y 1 sood atUA 3 . lmilln or68.        et omm iment ' n baanc
                                              55% ofn c      t s.Loa l es
              etd o e s        ig (    5.   li     e ee an ele        nme
        oncûmpl e prj ct amountn t)UA 3 24 milonhav b n c c ld on Gover nt

              t h        p rto s p r v d, u te t ie f rdt ih rjts e
        3 Ou ofte 31q e ain a p o e Fo re n (wo ln so c e i,eg tp oe t,on '
         tb n n          p ldig h t l me so s f du t n SDA)c mp n n )h v
                                   xi
        su y a d o e PBL icu n te s a di n in o a j sme t(    o o et ae
          en      etd. fe      r tols emai goig    ch wo e n h grc t e
        be compl e Fiten ope a i l r n on- n of whi t ar i t e a iulur
         e t , h ee n ndusr hr e ' r por d ev n he
                                 n                    i iii e or
        s ç or t r i i ty,t e i tans tan s en i t publc utltes s ct . '

              t 5. f e ommil rs we tt te E o o c a d S r curlAdu t n
               u
        4. Abit2 3% o n tc       ne t
                                t i n o h c n mi n tu t a j sme t
         ogrmme (
        Pr a           . n ci bi n ti e or oecs e es e
                  ESAP) Fian ng t -idusralsct prj t rpr entd 24% . The next
        a g s e tr s u l l lt wih 1 h r f 2. ' e te e t r ih e ev d
                         c t e
        lr e tsco wa p b i tiiks' t : s a eo 2 5% .Th o h rsco swhc r c ie
               oup i ncig  r por, 4.    grculur 3.     d ocil er c , 7%
        Bank Gr fna n am :tans t l 1% ;a i t e,1 4% ;an s a s vies 0. .          .

                 r         nt ned       l ecor   epaym entand has no out andi arr
        The count y has m ai ai ap excelentr d ofr                     st ng ears.

             e n o p s o tol e f rn n e a e n se sd s ai tm t n
                               o                              f      h
        5. Th Ba k Gr u ' p rf i p ro la c h sb e a s se a s tsaco wi a
           r l ve a l n ' 1
                       t            l er 1 um er     oblms e e de ii
        ove al a r ge rtig ol2. . Htwev , : n b of pr e hav be n i ntfed as
         dverel fè ig h i y omplton he oecs. ï elt o he olowig: i
        a s y a fctn te tmel c ei oft prj t Thee r aet t f l n ()
         he pa qua     he     oup' upevii   si ; i) c i ce t nk
        t i de cy oft Bank Gr s s r son misons (i non-omplan wih Ba
          oup' octr       uls   oce e; ii ak nsiutona a ciy' i ow e
        Gr s pr lementr e ofpr dur (i)we i tt i lc pa t ,(v)l lvelof
          s s     s ) fme l cs l v)n compla ewihrpori r r nt.The e
        diburemenf (nsl prje t;Ind( 'on-   inc t e tng equieme s s
          obl      e ç o d ays n he m cm nt ton s
        pr em s hav I d t .el i t i pl e a i of .       he
                                                 ome of t Bank Gr     i ce
                                                                 oup fnan d
         rj ès n mb b
        p oe t i Zi a we..
              ar umb . el         t rn s e ctv n mba            e ponsbiiy f
        6 A I ge n erofdev opmen pa t er ar a i e i zi bwe.The r s    i lt or
         oor na i       opm nt s it c r s t he
                                       es             ni ty    na e. pac t
        c di ton of devel e a s san e r t wih t M i s r of Fi nc Ca iy
         o sr it i , owe e , mp ce ) h nity f n n e s blt o e f m t oe
                  v                                       y
        c n tanshle h v r i a td(nte M i sr o Fia c ' a ii t p ror isr l
            d oor na i de t y.        d ome biaer sa e a ssi Gover ntt buid
        ofai c di ton a qua el UNDP an s      lt al r s itng      nme o l
              t n'hi ea.
        capaciy i t s ar

            n der o ol h tentfed oblm , h        s derak he olowi
        7. l or t s ve te il ii pr e s te Bank ha un t en t f l ng
           s e i er he s ar uper son ) oe s s e egulr t s y he
        mea urs:()ov t pa tye ,s vii (fprjct wa mor r a .I i onl t
        r n p r e t rjçs c r o t r ie rn 9 6. n e a uay 9 6, i
                                          p
        ta s o ts cbrp oe t whih we e n tsle vsd du ig 1 9 Sic J n r 1 9 sx
         u e vso a e e n l l tk n. u evso si n of r n p r e tr rj cs s
                            ne
        s p r iin h v b e t t ra e A s p r iin miso ' ta s o tsco p oe t i
         a d n h4 hid     t      997, i) he ev  al e t he      er
        plnne i t t r quarer of I .(i t I elof di ogu wih t Gov nment of
          mba     h e lr d blow-l c i bri
                                      l      mpl ementoft Bank Gr porf i
        Zi bwe On te r qtie I l tp a tlns l ' rv        he       oup tolo
           f ma e is s en nc d; ii       ton    ks o r n oe t f
        peror nc la alebe enha e (i)aNai alWor hopt tai prjctsaf onBank
          oup es nd o dtr w el lig             ob
        Gr Rpl a Prce les'as h d dtrn 2l Oct er - 1 Nov         996, i h
                                                          ember 1 .(v) te
         e s s ea n r ompl e qict e ysemai l n or ae n he si
        lson l r tfom c etd pr e swer s t tcalyic portd i t de gnofne    w
          oe t; n v n t a dig t n aa c s olp n rjc o lt r a c le
                           s      l          t                o
        prjcs a d ( )a y ml tn n Ia b ln e f lwig p oe tc mpein ae c n eld
          Om
        Pr P y.
                                                  -   i-
                                                      i'                    .               '
                                      .                                                 +
                her p ur s r    n     s d n he olowi r s i h sa ihme
            8. Ot m c s e a e beig purue i t f l ng a ea : () t e e tbls nt of a
             i s l ' c n h ount y wher a Zi ba e n n i
                     f
            lai ln ol ie i t e c r   eby                    d        oye    he nk
                                            m bw a atonalwoul be em pl d by t Ba
                  ll llcr h upe vii
                    ' t                  he        i     pr enttve n      t i he
            and wllç tj l te s r son of t UNDP ResdentRe es a i i moniorng t
             mpl  attn     nk ou ian ed oecs; i) ourgig he   r nt o iie
            i ement ih ofBa Gr p fn c prj t (i enc a n t Gove nme t utls
             he r t s s m nt d ev vng h4# mehods of dibure
            t diec dibur e e an r ol i /        t .                i   he
                                                        s sment besdes t
            ei     sm       hod  ch s en r l es      i e Or h ow ev      s s
            r m bur e entm et w hi ha be pa ty r pons bl f t e I l elof di bur em ent
             n umb r rjcs n d iin, h o e n n s o tn o sy en n o r g d o
            o a n e Ofp oe t.I a dto te g v r me ti c n iu u l b ig e c u a e t
    p       m ove he   iy    s sem   applcatons.
            i pr t qualt of dibur ent. i i
i              .                          .
                                              '




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:
    1.                    O
              INTRO D UCTI N

     .
    1.t       ' s r por r vi t sa us of Ban Gr up oper tons a t consr nt '
              rhi e t e ews he tt          k o        ai     nd he  tai s
     fctn ' ect mpl ntton n mba
            q                          di ci nd e           tons
    ale ig pl i i eme ài i Zi bwe. Reme ala tons a rcommendàl
    çquied o      he f m         ' he tolo e s        lned.
    r r t enhance t per or ance ol t porf i ar alo outi

     .
    12         e to 1 e e h n g ig rj cs n r sns h ie n o o iin f
              S cin1 rviwsteo - o n p oe t a d p e e t t esz a dc mp sto o
    he toloj l he er l s s nt               tolo ror c s s us ed n e i
    t poff i whie t Ov al ases me ofporf i pe f man e i dic s i s cton
     l    c i V s es e h        na m    m em nt ton apa t  t e pe o
    I l Se ton I a s s s t e m a ge ent i pl e a i c ciy w ih r s ct t Bank
      o p ia c b rj cs ù e to      o ie n se s n o h n o p' e dn
    Gr u fn n e p oe t.a d scin V pr vd sa a ssme t fteBa kGr u sln ig
     t a egy an e
    sr t             i c n ec i       , oor na i     t her el             r ne s s
               d xperen e. I s ton V l c di ton w ih ot dev opm ent pa t r i
'
      s us e nd e i
    di c s d a s cton V I gi es t e s a us of Zi b bwe' per or an e r gar ng l n
          .   .      '
                           I v ' tt
                                .
                                 h       '
                                               m a'
                                                      s  '
                                                           f m c e di oa
                                                                 .
                                         , .
                                        ...
    e ym t nd r r n e ton I , h epor cl s t omt t                 tons
    r pa en s a area s.l s c i VII t e r tcon udt wih S r commenda i
         l     ec nt tons a       h h     nk d     r       o nha e   tolo
    as wel as r e ac i t ken by bot t e Ba an G ove nm ent t e nc por f i
         m nc
    pedbr a e.

              REVI        GO NG
                  EW OF ON- I PROJECTS
               ze           ii     he t olo
              Si and Com poston oft Por f i

      11
    2. .       n e h n tre p rto s n mb b n 9 2, we t fv o n n
              Sic te ba k sa td o e ain i Zi a we i 1 8 t ny-ie la sa d
     o r r ns a e e n p r v d o ia c ite rj cs t re ie f rdi, e ol     c
    f u g a t h v b e a p o e t fn n esxe np oe i, he ln so c e t on p iy-
     a e p r t ict ig o il me so s f du t n) n o r t de . tl
                o     l
    b s d o e ain (n ld n s ca di n in o a j sme t a d f u su is To a
     om t nt , :t  nc ltons r          ul 997,UA 51 05 milon,ofwhih
    c mime s n ofca ela i ,we e,asof31J y 1        3.    li      c
          48 li 85.      sr       es c d         57 li 1 5%)
    UA 438. milon ( 5%)wa fom ADB r ouresan UA 74. milon (4. was
     r                  3
                        9
    f om A D F. A bout7. % of t e A D F com m im en s amoun i t U A 5. 86 m ilt was i
                               h               t t         tng o             lim    n
     hè or            ant.Cum a ie s urement asof30 J y 1 soo a UA 351.
    t f m ofTAF gr s ' ultv dib s                  s         ul 997 t d t          71
     lo
      l       . 5% f e o t t. a aa c s o ltd rj cs mo ni g o
                           me
    mi in or68 5 o n tc mmi n s Lo nb ln e onc mpee p o e t a u tn t
         24 li av ee ap le               rm     e    t
    UA 35. m ilon h e b n c ce ld on Gove n entr ques .

      1.
    2. 2              3%
              About 25.. of net comm ime s went t t e Ec
                                      t nt '    o h          c d r ct a
                                                        onom i an Stu ur l
      j t n o r mme (
    Adusme tPr g a       . n n ig o n u til e t r rj cs e r sne 4%
                    ESAP) Fia cn f rid sra s co p o e t rp e e td 2 .
             a ge t ecor     i iiis t 5%       e har    h t r e or r s
    The nextl r s s t waspublc utlte a 22. .Th s esoft e o he s ct s a e a
     olows:tïns t l 1 'a iulur 1 4% ;a s als vie 0. .A s
    f l      a
            l por, 4. % , grc t e, 3.     nd oci er c s, 7%           y
                                                                ummar of
      nk oup er tons n mba        s ovi d n bl 1 ow d
    Ba Gr op a i i Zi bwe i pr de i Ta e 2. bel an Anne 1      x .
      .                  .          ;


                                                  e 1
                                               Tabj 2.
                              BANK GROUP APPROVALS
                                        as      y 997)
                                        ( at31Jul 1
                                           UA li
                                          ( M ilon)
  l3
2. .        fl e tr l r a d wn f - oig rjcs n mb b s ie n be 2.
              e
            'l sco a b e k o o ong n p oe t i Zi a we i gv n i Ta l 2.
  ow ll s l r i
       l               e evi wed i de a l i t s c i t tf l .
bel .'' e c (pe atons ar r e     n t i n he e tons ha olow

                                            e 2
                                         Tabl 2.

                                             GOI
                 SECTO RAL BREAKDOW N O F ON- NG PROJECTS
                                      as t     y 997)
                                      ( a 31 Jul 1
                                         UA li
                                        ( M ilon)

           ctl
         Se fr               ) '
                           N(.(f         ADB      ADF      TAF        a
                                                                    Tot l    Amount
                  .
                              s
                          ul l Grnt
                          I al/ a s                                           s ured
                                                                             Dih s
     i ultr
  Agrc tlé                         2          -    1 75
                                                    8.          -     8.
                                                                     l 75         32
                                                                                 6.
    a por
  Tr ns t                          3       2.
                                          3 50      9. l
                                                     2        .
                                                             l 38      09
                                                                     43.          02
                                                                                 0.
      i iiis
  Publc Utlte                      7       6.
                                          5 86     24.
                                                     05       26
                                                             2.       3. 8
                                                                     8 1          67 '
                                                                                27.
   ndu t i
  l s ral                          3       5.
                                         lI 00      0. 6
                                                     4          -     5.
                                                                    11 46         38
                                                                                89.
    al
  Tot                              l5     04.
                                         2 36      52.
                                                     48       64
                                                             3.        48
                                                                    260.        23.
                                                                               1 39

A.         THE AGRICULTURAL SECTOR

  14
2. .      e n o p a ia c d h e e et n rjcs n mgl le
                                          e                  h
        Th Ba k Gr u h s fn n e tre rs tlme t p oe t, o e s l o d r
ri ton oe t       i     e t nd     tdy he grculurl e t .
irgai prj c ,one Ine ofcrdi a one su t a i t a scor Asof31 J y ul
 99 e o t ns n h e t r mo td o           .5 li Th b e tv s f n
                                               o
1 7,n tc mmime t i tes eo a une t UA 687 mil n. eo j cie o Ba k
   o      a i n he e or n ude         sc   t lvi i es temen ofdiplc
Gr up oper tons i t s ct icl d:ba i povery ale aton,r etl    t     s a ed
 nd an e s       ai    her by e es i g sorca mbal c n an
a I dls popultons t e r dr s n hit i l i an es i l d owne s p, anr hi
m ov      e atv nc       nd oo el- uf i enc or he etl s nd m ovi oci l
i pr ed r l i e i om e a f d s f s fci y f t s ter a i pr ng s a
 nfa tu ur hr       h      ovii       c s i cs nd      e es    n
i r sr ct e t ough t e pr son of s hool , clni a bor hol . Loa balnc a es
 m    i o        2.     li      e an ele      rm     eq t
a ountng t U A 1 49 m ilon wer c c l d on Gove n entr ues .

A.1        SECO ND RESETTLEM ENT PROJECT

 1.
2. 5          kcr    nd crpton:    c d etl         oe t s p ove n
           Bac ound a Des i i TheSe on Res tementprj c wa a pr d i
  c    r 984 a t e a e
De embe 1                 t or oa               86 li      s i d n
              nd h gr emen f a l n amountof UA 9. m ilon wa sgne i
  br l 985. e j tve he oe s o ete an es opl nd hos n owde
     y
Fe ua' 1 Th obeci oft prjcti t s tl I dl spe ea t ei cr d
 om        e n de o ovi he           t    i elhood a i e s a i ulur
c m unal ar as i or r t pr de t m w ih a Iv i       nd ncr a e gr c t al
pr     i
  oducton.

   1.
2. 6        olct okr s:          r    ' om i c t oan ondii s nd ov nt
          Pr e Pr les Theborowersc plan e wih I c ton a c ena s
   s      n a i f c or  e o gr l tt
ha notbee s ts a t y.Th l an a eenen 'ook a              hs o c      fci
                                              bout7 m ont t be ome ef e tve.0 ne
  her     ton, s il st ng.           l ubm s on           t y ogr
ot condii i stl out andi W hie s isi of quar erl pr ess r t has        epors
r     l m oved no audi r
 ecenty i pr                 s                  ubm ted.
                       t eport have as yetbeen s it

  1.
2. 7         oc em t f m nc
           Pr ur en Per or a e: Th bor ower unde t m os of t e pr ur ent
                                    e   r       rook   t     h oc em
  t     is e ng he      ova ) ll nk. l n        an d upe vi i he iu i
w ihoutf r ts eki t cppr l(ft e Ba Folow i g enh ce s r son,t s t aton
          ectfed.     r             ared ubm ti   ddi         s o he
has been r ii The bor ower has now st t s itng bi ng docum ent t t Bank
 or
f appr oval .

  18
2. .       Fi nci l Per or an : The G ove n ent ha b n a qua el prl di g is
                       f m ce            rm       s ee de t y tvi n t
             na a     -     -

     rbtton n ocal r             iiaton he oceeds (ft l his beel sl due
cont i li i l cur ency. The utls i of t pr           ) he oan t     l ow
 o he       nm nt s oi e he ei      s m nt         s s nt ld l om i e
                                                                on-
t t G over e ' ch c oft r m bur e e mode ofdibur em e a l l c planc
   t
w ih Bank G r       oc em nt oc dur .         es t        ec d e n
              oup pr ur e pr e es A s a r ul of poor r or k epi g by t   he
   ec i      enc h l er         l en bl o ovi omedoc e a i r uied
                                 s
Ex utng Ag y.te Gkv nmenthl be una et pr des                um ntton eq r
#
    *- u tfc t n u p t
    0         o             o    emb sme t p i to s
                                              c          1 ul 9 7,
    11 j siiain i s p or of s me ri ure n a pl ain . By 3 J y 1 9
     s s m nt ' he
               r        oa m un e o       55 li      c s bout36% oft
    dibur e e tom t ADF l ù a o t d t UA 3. m ilon whih i a        he
    ot (:l 1-(1nt
          7 l l 1
    t al 1.)' :l1). .                                                                     '

      19
    2. .      tvt n
                 e        rs      i h v r l mplme tto tts f h rj c s
                                   e
            Ac iiisa d W o k : W hl teo e ali e nain sa u o tep o e ti
     b u 5% o ltd h rj c a u frd l a e f e r e o n fiin p o e t
                                          p
    a o t8 c mpee .tep oe th ss fee asip g o 7y a sdu t iefce t rj c
       na em .      er olow ng h r ns er m ement ton r s
    m a g ent H owev ,f l i t e t a f ofi pl             i lt o he s r c
                                               a i e pons biiy t t D i t i t
      vel    t     n he nity      al   r ment a n bàn vel      n
    De opmen Funé i t M i sr ofLoc Gove n ,Rurla d Ur De opmenti
      br ar 995, mpr eme n he mplme ai      he oe t s ee eve
    Fe u y 1 i ov nti t i e ntton oft prj c ha b n obs r d.

     1. 1
    2. .0           mp c n v ln n : e rj c a e n bl o e ete oa f 5
                   I a to De eo me t Th p oe th sb e a e t rs tl at tlo 2,27
     ar a le           he ann d 979.Th t r tnum be c d notb r a ed be us t
    f m f m ii s outof t pl e 2,      e a ge      r oul    e e ch    ca e he
      v r me t d v ia l c h rj c b u 8
                         l                  f h a d n ia è t p as l Th
    Go e n n ma ea a lbet tep oe ta o t 9% O teln e vs g da a pr ia . e
    a getd op oducton of 1 439 t s ( t ffh yea ) h a wel n be a t ne
    t r e cr pr    i     5, onne by he it r as s l ot en tai d.
      v rh ls . h rjc a r vd d h o a o uain t o d n a h n o s n
    Ne e tee s te p oe th sp o ie te lc lp p lto wihf o a d c s ic me a d
     ont i ed o m ovi h r o al f r hr        he ovi i     i cs t r upple
    c rbut t i pr ng t ei s ci wela e t ough t pr son ofclni ,wa e s i s,
    c o l n mpr v d o l c t yse . n d iin h v r me t a c e td h
                         n on
    s h osa d i o e c mmt iai s tms I a dto ,teGo e n n h ja c pe te
               ssi s ecom m endaton t i ue l lehol t f m er i r etl ent ar
    Land Com m i on' r           i o ss ets ds o ar s n es tem            eas.

     1.
    2. 11            er l s s : o e t ror nc                e aifct y.
                   Ov al Asesment Prj c pe f ma e has not be n s tsa or The
     olow ng s um   y al ton    he t m nc ndi at s.
    f l i i a s m ar ev ua i of t perbr a e i c or

                                              RA TING


              oic
             Pr e t       rl l lcl
                            cr l t
                         P t tcy l     7 11;1
                                        i:1iI
                                       IIl(:            Aciic
                                                          t ts
                                                           vi    l at n
                                                                  n
                                                                 I pc o         eal
                                                                              Ov rl
              ogr s
             Pr c s         f li l
                             l ,kc
                         Pcrkrlkl c   ' l Iltl
                                       eyk 'l ct
                                      I ' ll:l t        :11Wll
                                                        1( pks
                                                         1. '      vel c
                                                                      l
                                                                 Dc tpnlnt     s s l nt
                                                                             As e sne


               0
              2.             .)
                            1l            7
                                         2.               I(
                                                           .)        (
                                                                    2.)          7
                                                                                1.


     2
    A*                D-            ,       ,
                   M I ZAM BEZI VALIEY RURAI DEVELO PM ENT PROJECT

      1. 2
    2. 1                 oun nd s i i
                   Backgr d a D e cr pton: Th ' i zam b i Vale Rur l D ev opm ent
                                             e M d-    ez    ly   a      el
      oe t s p r v d n tb r 9 6 n h g e me t br o n mo n           u9
    Prjc wa a p o e i Oco é 1 8 a d te a re ' n t a la a u tofUA 8 8
      lio s in d n v mb r 9 6. e be tv f h oe t s o e eo h d
    mil n wa sg e i No e e 1 8 Th o j cie o teprj c i t d v lp te M I-
      mb z Val eete 0 0 a l n mp o e h i n o àto s tq e ls 6 0
              e              e                v
    Za e i l y.rs tl 3,0 fmiisa d i r v tel igc n iin of h s pu 4, 0
     amii r dy e i ng n he oec e hough prl son ofa iulur s r c sand
    f lesalea rsdi i t prj tara tr          tvii     grc t al evie
        i al d oci l nf a tuct e; nd nc e e op j oduc i
    phys c an s a i r s r ur a i r as cr Ir          ton.

     1. 3
    2. 1            oi t ogr s :
                   Pr ec Pr e s The borowerscompla e wih l n condii an c
                                       r   '     inc t oa                    nt
                                                                 tons d ovena s
      s      en a i f ct y. e oan ook nont o ec      fci        he our he
    ha notbe s ts û or Th l t 7 I hs t b om e ef e tve.Outof t f ot t
         tons.One i stl out 'ndi l tl past s isi ofquarery pr ess r
    condii                  a
                   s il st ng. n le       . ubm s on
                                              .                       s
                                                       t l ogr eport w as
    r e a nd he eptrs en ubm te e        ualt  s s        en mpr d
    ir gul ra t r ft wh s itd wer ofpoorq iy.Thi ha now be i ove
     ut     te t           s t n ubm te
    b no audi r pors hrve a ye bee s it d.

     11
    2. .4           o urne t ro ma c      s o h ni l r c rme t n e h rj c s
                                                   i
                   Pr c e in Pe f r n e:Mo t ftei ta p o u e n u d rtep oe twa
            t     olow n he   k' oc dur s     s l s en e tfe olowi      nc
    done w ihout f l i g t Ban s pr e e . Thi la be r c i id f l ng enha ed
     u r son.             ow t red ubm ti g ddi g cument t t e Ba f ap oval
    s pe vi i The EA has n s a t s itn bi n do          s o h nk or pr .

      1. 5
    2. 1       n ci Per gr n     l      rm     as de f y ovi d t lrbuton
             Fi an al f m a ce: TleG ove n enth a qua el pr de iscolt i i
     n oc    r c     e iia i     h oc eds he oa s,             el l
                                                                 . een l
    i l alcuren y.Th utls ton oft e pr e oft l n ha howev ' l sow due
     o he     nm ' oi e he ei ur e
    t t G over entsch c oft r m b s m entl          s ur e nen       c     i nc
                                            node ofdi b s l tand non- om pla e
      t nk oup octr          oce e      ii 1 1' 1      e d epi
    wih Ba Gr pf lementpr dur s.Arsng 101 poorrcor ke ng by t EA ,t ehe       h
   e n n a e n a l o r ie o o u nain e uie O u t c to n   f
Gov r me th sb e un be t p ovd s me d c me tto rq rd frj siiain i
 up t )'q l ei
         ;t          s
s por (t .lne r m bur em en a i atons A s of 31 J y 1
                           t pplc i .                     s sm        r   he
                                                 ul 997, dibur e ent f om t
     oln l p e o
          l l           77 li      ch s ou       h oan moun .
AD F I l indtnt d t UA 2. m ilon whi i ab t31% oft e I a   t

 1.6
2. 1              i tes nd   ks    l he oec s ch e o mpl ntd
                Actvii a W or :W hiet prj twa s èduld t be i eme e over
   i    ar r od, t as en goi g or ar . s lppa     s    o nefk e
a fve ye pe i i h be on- n f 9 ye s Thi s i ge w a due t i t i nt
 rj c n ge n . we e , o lwig h r n fr f mpe n ai e p n iii o
                                                 on         t
p oe tma a me t Ho v r f lo n te ta se o i lme tt r s o sb ly t
he s rct ve opm nt  d n he ni ty       al   er     ,   al     ba
t D it i D e l e Fun i t M i s r of Loc G ov nm ent Rur and U r n
  v lp n n e r a y 9 5, r e mp o e n n h mplme tt f h rj c
                                                    o
De eo me ti F b u r I 9 ama k d i r v me ti tçi e nain o tep o e t
  s e      er d.
ha bé n obs ve

  1. 7
2. 1             m t
                l pac on D e o e : A t alof5, 4 f m ii outoft e pl ed 6, have
                            vel pm nt ot    91 a les         h ann     600
  e es ted de he oec. t s ntci td ha 600 a le l       etld y
be n r etl un r t prj t I i a i pae t t7, fmiis wilbe s te b
   e
Dec m ber 1      t       he a get d op oduc i es i at d a 1 697 t es by t
           998. Alhough, t t r e cr pr     ton tm e t 7,        onn     he
 it ar s ot en tai d, he oe as ovi d he oca ai t oo d
ffhye ha n be at ne t prjcth pr de t I lpopultonwihf d an
  s nc s d ont i ed owar i pr ng t ei s a wela e due t t pr son of
ca h i om e an c rbut t       ds m ovi h r oci l f r       o he ovi i
  i cs    t upple , s hool an i pr d com m uni ton s t . I a ton, t
clni , w a er s   is c      s d m ove          ca i ysem n ddii       he
      nm      s cc pt d h    d      s i s ec       da i o s ue e ehol o
G over ent ha a e e t e Lan Com m i s on' r om m en ton t is l as ds t
 ar s n esetl
f m er i r tem entar   eas.

 1. 8
2. 1               al ss me : qjct f ma e as          en aifct y.
                Over l Ase s nt Pr e peror nc h nOt be s tsa or The
 olow ng s um r val ton ) he f m nc ndi at s.
f l i i a s m a y e ua i (f t perbr a e i c or

                                            RATING


          rl c
            j
         P lc t          t rltl
                          c tl
                        Pr,ue ll    I1 I il
                                    '1 1 l
                                     l1cl
                                     i                 t tt
                                                        v is
                                                     Aciit       np c o1
                                                                Ila t l       eal
                                                                            Ov rl
           fgr s
         Prl es           'llllc
                           f r
                        Pcltrlllc    ' ' llltc
                                       l' l
                                    Iclkllil e       ;1l' kks
                                                     l t Wll
                                                      I    '     t l lt
                                                                  vel
                                                                Dt fpmrl     ssne
                                                                           As e s l nt


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          2.)                 (
                             l.)        7
                                       2.               1(
                                                         .1         (
                                                                    .
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                                                                              l.


                      uson
                   OnCI i

  1. 9
2. 1         e
          Th over l f m anc oft e s ct i uns if c or .As s ow n i A nne 1 t
                al per or   e h e or s ats a t y          h     n      x 1 he
 om    ie a i Or h e or s .         s s        ae     5 er ent          etec
c pos t r tng f t e s ct i 1 7.The dibur ementr t of47. p c does notr l t
h      c e         mpl tton     oe s n he e or     e ons or hi
te physial Ivel of i emenai of prjct i t sct . The ras f t s
  r or nc      e, nt r // nclded Oc a i
pe f m a e hav i e //J, i u                    on c    i e t
                                      c sonal n - omplanc wih Ba Gr   nk oup
  oc e        oc   e
pr ur m ent pr edur s. ch c (f t e r l s
                         oi e ) h ei                e    s s         , ne f c ent
                                     nbur ement m od of di bur em ent i f i i
 rj c n g me t n n d q ae rjc u e viin y n tf. e i t a o u o
p oe tma a e n a dia e u t p oe ts p r so b Ba ksa f Th stainh sn w
  e e iid blowi          nc d up viil y nk t f d ten ce
be n r ctfe f l ng enha e s er sln b Ba saf,an a t dan ofBa Gr  nk oup
  ganie
or s d Na i          ks ops    o e       d s s nt oc dur s        ec i
            tonalW or h on pr cur m entan di bur em e pr e e by Ex utng
         af
Agency st f.

B.                        AL
             TH E G DUSTRI SECTOR

  1.
2. 20                   s i c d, l1 ndusral ha ltton an d wo n
             The Bank ha fnan e (1e l ti Re biia i Lo an t Li es of
 e t LOC)t t Zi bweDev lpme Bank (
Cr di (  o he mba     ell nt         n udi       n tt i l
                                 ZDB)i cl ng an I s iutona Support
  a n he ec or       )    ul 997. t n c m im ent i t e s ct a ount d t U A
gr nti t s t .A s (f 31 J y I       he et om t     s n h e or m    e o
 23.      li
1 32 m ilon. Bank assit          n he     or s l           essi
                          s ance i t sect i ained at addr ng som e Of t he
 e lt i            ni a i         ns on e     h     m bwea i ty w li h ha
r habiiaton, m oder s ton and expa i n eds of t e Zi ba   n ndus r lc    d
 uf er d r      oni or gn xc ge hor a s         e    t      c l t e iy
                                                                ci
s f e f om chr c f ei e han s t ge ,coupl d w ih a non- ol/t v polc
#
        r        d          tc nc tv      r ng h 98     d r y 990s A n out t ndi g
    envionm entan poordom es i i en i esdu i t e 1 0s an ea l 1   .       sa n
      l ce         ig o       1    li unde t Fi s LO C t ZDB w as ca e l d a
    ba an am ountn t U A 2. 4 m ilon       r he r t        o            nc le t
          llltl ' ll .
           tl   e
    Gover-'tit l ttest

    B.1       N          AL        LI    O
              I D U ST RI R EH A BI TAT I N PRO JECT

      1.
    2. 21       ckar   nd s rp i       n til ha ltton n I
              Ba ound a De c iton: The Idusra Re biiai Loa (RL) was
     ppr d n     i 990 bq        t)      00 li    d t oa e m nt  i d
    a ove i Aprl1 t an amoun (fUA 1 milon an isl n agr e e wasjgne
     n y 990.The I wa t fn c t e f ei ex ng cos of t r abiia i a
    i Ma 1           oan s o i an e h or gn cha e t he eh ltton nd
        er s i      h a nd ui nt             or i e ndusra nt prs n
    m od niaton of t e plnt a eq pme of exp t orentd i til e er ies i
      mba     hr     he oc eme      apial ods nd er c .
    Zi bwe t ough t pr ur ntofc t go a s vies

     1.
    2. 22      oic oxr s : e oa gr emen be meefe ie i Nov
              Pr e tPr e s Th l n a e  t ca   f ctv n        r 990 c
                                                         embe 1 whih
      s t h tp ltd 8 a s
         hi                        v r h o e t uf d r m o ib re ns
                                                 kr
    wa wi n te siuae 1 0 d y .Howe e ,teprj c s t e fo lw d s u s me t
     r t n e t s e ul f t iia rsrcie e iiin f l be u prjcs e
         s     on                                    g
    fom i ic p i a ar s to isorgn l e titv d fnto o eiil s b- oe t.Th
      ii a i      he o e
    utls ton of t pr ce ds of t e I
                                h oan c m e t a ha t i 1
                                         a  o                  i a ia i     he
                                                  l n 993 as lber ls ton of t
      m bwe e
    Zi ba                de he dm nit a i   ten cks el t d o a ni unds f om t
              conom y m a t a i s r tve botl e r a e t obt i ng f        r he
     oa e s tr c i e om ar d o     ch i g or gn xcha e r quiem ent f om t open
    I n l s a t a tv c p e t pur as n f ei e         ng e r      s r    he
      ke .      oe      ialy ef mul e n 99 n de o ke t e ta tve o
    mar t The prj ctwasfn l r br atd i l 4 i or rt ma i mor atrci t
     nt e ene s nd o pe d s s       t he s a n m                   r      00
    e r pr ur a t s e up dibur em en of t out t ndi g a ount of ove U A 54.
      lon. e ebr l il n ole h ra e ig ) h l bl y rt i o u - rj cs
       i          a                        g t e
    mil Th rf mtltojiv v d teb o d nn (fteeii ii c i raf rs b p o e t
    o n ude e vi e n t i s- nd he t e m i n  he dm nit a i   oc    e or hei
    t i cl s r c i dus re a t s r a lni g of t a i s r tve pr edur s f t r
     ppr al     l he ubm s i ) alery ogr s e t
                                    t                    e ar       u te t
    a ov . W hie t s i son (f qu - l pr e s r por s was r gul , no a di r por
         ubm oted
    was s i t duri 1ng 996.

    2. 23
      1.                                         cy d    uly    y t he
              Pr ur e Pe l m a e: Th Exe tng Agen di notf l compl wih t
                oc em nt rbr nc     e   cu i      .


      n s l u e n uls n e one 1 h u - rjcs              v r u h u - rj cs
    Ba k' prc r me t r e u d r s l 0:te s b p oe t. Howe e ,s c s b p oe t
     e es    mal ton )Sh lt          r ub- oict i nc d
    rpr entas lpori (Ite tlalnumbe ofs pr e sfna e undért l ( 'he oan about
      erent.
    8p c )
      1.4
    2. 2        nan a    l ma e s ur e      s ) h oa ec     e n y 996.
               Fi cilPerbr nc Dib s ment (1 t e I n r ommenc d i M a 1
              ul 997,U A 89. m illn r pr e i ab t89. h be di bur e Som e
    As of 31 J y 1                l
                           44 li e es ntng ou       4% as en s s d.
      he ub- o e t ch pve en v locai s der he oan r tl n h oc s
    Oft s prj cswhi la be gien al ton un t l aesili te pr es
          n hei e pe i eter        e t LCs .
    ofopeni g t rr s ctve l t s ofcr di ( ) '
      1.
    2. 25     m c n        l
             I pa t tn Deve opment A fe a s ow s a t t l
                                  :   tr   l                   s      en uly
                                                t r , he oan ha now be f l
         ted ( r       n ti nt prs .         o e t s td    e r n tt i n
    commit t)Ove 400 idusrale er ies.Theprj c i cie by s vealisiutons i
     h ounty, n udi he        kker i ) mb      an ndusres CZI , d he
    te c r icl ng t Conl l aton kf Zi abwe I ti ( ) an t Sm a l         l
       er ie     el         por ton SEDCO) a ha ng b en hel ul t t c ty'
    Ent prs s Dev opment Cor a i (          s vi e        pf o he oun r s
     n ti e or       h ltr l clll he qicts rdie ( e rcty eae
                         .       l?
    idusralsct .Onte(viale lllly.t pr e i ce tdt)hav die l cr tdover
      000 ew obs n he
    5, n j i t county.    r
      1.
    2. 26         r l s s t I1 l . - npl nt ton ) h RL          ogr s e ats a t iy
              O ve al As es m en '- Ie i em e a i (ft e I has pr e s d s i f c or l
         he :st        hs t         yelr aglatln         he obl        s s
    over t 11 ll m ont afer a 3- l st l il caused by t pr em s dicus ed above.
         olow ng s um r ' ill ton )' he rbr nc ndi at s
    The f l i i a s m a y olev lta i (1 t pe l m a e i c or :
     2
    B.            FIRST LI            T     M
                          NE O F CREDI TO ZI BABW E DEVELOPM ENT BANK
                  gNSTI   O
                       TUTI NAL SUPPORT G RANT)
      1.
    2. 27   Backcr            crpton:       ant     i o       46 li
                  ound and Des i i A TA F gr am ountng t U A 0. m ilon w as
     ppr e I)    ua y 990 a t pr oc of gr a ee ent was s gne i M a 1
    a ov d i Febr r 1       nd he ot ol    ant gr m       i d n y 990.
      e r n wa o e s d s rj c rp rt a ii o rj cs p n o e y me gn
                                       on   t
    Th g a t st b u e a ap o e tp e a ai fcly f rp o e t s o s rdb e r ig
      r eneur and f tai ng t
    entepr   s                 n    c         i kil
                   or r ni hem i basi m anagerals ls.

     1.
    2. 28          oict ogr s: e ot ol   a gremen be ame e f tve i J nua y
                  Pr e Pr es Th pr oc ofgr nta e t c      fec i n a r
    1          er m em t ton     he a br r ene i l         l
     991.H owev , i pl en a i of t gr nt t entepr ura deve opmenthas notbeen
     a if ct y s t ii a i em ns ow ue o he a i          t e a n
    s ts a or a is utls ton r ai l d t t c utous sanc t ke by t ZD B  he
     e di g he gh i k sl eci     t     r n nt prs s. e      d     ubm t ihe
    r gar n t hi rs as l at d w ih em e gi g e er ie Th EA di nots i ne t r
     u re l rj c r g e s e o t 1 u i e o t n 9 6
                                01
    q atry p o e tp o r s rp rs1 -a dtrp r i 1 9 .
  1 29
2. .      ocur m  r or c
        Pr e entPe f m an e: Ther ha b n no pr uf en pr em s i r pec
                                 e ve ee      oc em t obl    n es t
   he ant
of t gr .

  1 30
2. .      nan al f ma e        tl 997,onl UA 0. m ilon,r es tng
         Fi ci Peror nc Asof31Jly 1     y     23 li epr en i
       he ant         en s s d.
50% oft gr amounthasbe dibur e

 13
2. . 1              t is n
                     vi         r s e mpe nain c e ue f h rj c a e n ah r
                  Aci te a d W o k Th i lme tto s h d l o tep oe th sb e rte
 l    n n f t o m ov he iiaton h ant h            k nd     gr d o iie
s ow I a ef or t i pr e t utls i oft e gr ,t e Ban a ZDB ,a ee t utls
h u sa dig ln e f h r n n wo ra i: i p r iig iei rjcs en
                                                     n
te o ttn n baa c o te g a ti t a e svz ()a p asn pp l e p oe t b ig
 r moe y megig nrp e e r' n i) r iig f h n s l t n rj c
                            ,                         e
p o td b e r n e te r n u s a d (i tann O te Ba k' cins i p oe t
m e nt i
i pl m e aton.

  1.
2. 32      m ct
          I pa on D e opm e : Th gr
                       vel   nt            as s it d h      l pm nt
                                    e ant h a ss e t e deve o e of
 nte en i kil n he         r        er h n lt        o fe iel iie he
e r pr eurals lsi t county.Howev ,t e iabiiy ofZDB t e fctv y utls t
   k    he a     o- t s
bul of t gr ntup t da e ha    educ d h xt     uch s s a e.
                             r e t e e entof s as i t nc

  1.
2. 33        er l s s m nt       er l s es m nt he m em nt ton   h a
          O v al As e s e :The ov a la s s e of t i pl e a i of t e gr nt
 em       he ne       edi s i act y.
el ent of t Li of Cr t i satsf or

                                          RATING
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                                                              lpa t ,
                                                              ll c (11      vrl
                                                                           Clc al
           f cs
            g
         PrIr s          tr rI:l
                              1c
                        Plh,I1I c   It' ,I,l:
                                     '!1 Il:lt
                                      1$ ' 1tl     1t V(r
                                                    l
                                                   :ll$ tks     vcs l t
                                                                   plcl
                                                              Dc ll l l    s sl nl
                                                                          Ase sne


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                                       3.#           I5
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                                                                            2.


 3
B.                         NE       T         M
                  SECOND LI OF CREDI TO THE ZI BABW E DEVELOPM ENT
                  BA N K

  1.
2. 34          kgr un nd
           Bac o d a Des i i              e d      o he           ppr d n
                            crpton: The s con LOC t t ZD B was a ove i
   c
D e em ber 1     or    5.    li              o ovi         t or gn cha
            993 f UA 1 00 m ilon.The LOC wast pr de ZD B w ih f ei ex nge
 es ce o        bl t ovi er en n o i at nv s or n he o ctv e or
r our s t ena e i pr de t m l di g t pr v e i e t s i t pr du i e s ct s of
 he c                 n e )7 kcuj       d    h e ltton,          nia i
t e onomy. The m ai ar as (1 ll woul be t e r habiia i moder s ton ai    ld
        on         - ent    er ies.
expansi of exportori ed ent prs
#'




       1 35
     2. .       oic ogr s     l oa           i d i an r 996 due t ZDB'
              Pr e t Pr es : Tle l n was notsgne untlJ ua y 1    o   S
      s gr eme t h nk' ure y       a'
     dia e ntwih t e Ba sc r nc man ge     a tc .        d eq t he nk
                                      mentpr c ies ZDB ha r uesed t Ba
      o ovi     d s s l n t e se                r nci s   s s    c pt bl o he nk
     t pr de,an di bur e on y i i8 r que t d cur e e .Thi w a una ce a e t t Ba
        i ha      i          ve ua l gr e o         r e h      n l e t he nk'
                                                                  i
     durng t t perod. ZDB e nt ly a e d t ope at t e LO C i ' n w ih t Ba s
      urenc    nag    t ul .     eq ty,t e oan          clr fe ie n obe 996.
     c r y ma emen r es Cons 'uen l 'h l wasde a ed e f ctv i Oct r 1
       - ae o u - rjcs O ia cn n e h
                                  g              a e e n e ev d r m    n
     To d t n s b p oe t f rfn n i' u d rte LOC h k b e r c ie fo ZDB a d
      e c o rj c r grs n u t e ors a e e n u mie    t
     h n en p ce tp o e sa d a di rp t h v b e s b t d.
      1.
     2. 36     oc eme
              Pr ur ntPeror c Sice prje t i ementton ha notsg td,no
                         f man e: n  t c mpl    ai     s    tre
       oc em t ctviy s è        ra n      rh n            e t
     pr ur en a i t ha be n unde t ke unde t e Li e of C r di .

       13
     2. .7     n n il ro ma c : t s n iiae h t h rjc l o e a e t
              Fia ca Pe f r n e I i a tcp td ta te p oe twiln tb fc d wih
       y i nci l f i t fer m em nt ton t t . t r nii ly n c tng o he nk ha
     an f na a difculy a t i pl e a i s ars A fe i ta l i di a i t t Ba t t
        o 0 c        he a lt     y àv o      nc l d   o a           nd or hi ype
     up t 5 per entoft f ciiy m a h e t be ca ele due t I ck ofdem a f t s t
        e o c , he           ive ha he on son he a lt o igl ur e y ba
     ofr s ur es t EA now bele st tt c veri oft f ciiy t a sn e c r nc l n
       l     e t    e       ii nd h he ot oa m           l e uly iied.
     w ilm ak i m or com pettve a t at( ( alI n a ountw ilb f l utls

      1.
     2. 38      tvii t       ks:   ctviy s en     ra n der h         s
              Ac i tes antW or No a i t ha be unde t ke un te LOC .Thi
                 hat he i ) edi s       ng ess  es     t or t nt
     has m eant t t Ine (f cr t i becom i I and I s suied f is i ended purpose.
       d r h u rn i r l d x h n e uak t n ion n ,
                    b s                                 s x e in ig du t n
     Un e t ec re tI ea ie e c a g l r e e v r me t ZDB i e p re cn aj sme t
     n hè      vi    't    r    s n ddii       n o uc es f i als ton         h
     i t beha our ol is bor ower . I a ton, ow i g t s c s ul lber i a i of t e
      ur e cc     , r en ur an L s or gn ch ge
                                     ch                   aie t f s or asl
     c r nt a ount entepr e s c pul a e f ei ex an or r s i of - h e e iy.
        s l xi lt as f c ed h c ) m em nt i           he        ch nvol
     Thi te biiy h af e t t e pa e (f i pl e aton of t LOC , whi i ves goi  ng
     hr      q ppr    oc dur  t er e, nta i   s t td alig nd en ng ats
     t ough a a ovalpr e e.Furh mor i l ton ha sare f ln a l di r e
       e       t l ali       ns l l ocal nes               ef ocal r
     ar concom ianty f lng.Co. eqtenty, I busi sm en now pr kr l cur ency Ioans
          hey e efnanci t r of - e I
     and t ar r i                              t ocal borr ng. Thes f or ar
                         ng hei f shor oans w ih l        owi      e act s e
      r a ig hit r      tuc ur d oa uc s he -    d lt i g ga ns t pe dy
     c e tn a s f f om sr t e I ns s h a t IOC an m iiatn a i t is s e
       iia i
     utls ton.

      1. 9
     2. 3      mpa t    el    : e        s sgne o s it i a e nvesor n he
              l t on Dev opment Th LOC wa de i d t a ss prv t i t si t         .

     pr    tve e or     he c om    nd t s pe e h t l ve          ii m ct
       oduc i s ct s of t e on y. a i i ex ct d t ati wilha a postve i pa on
      e eo me t n h o nr t mp c i o v r e mp n d y h a e t ih
                                  l                            h
     d v lp n i tec u ty.Isi a twi ,h we e ,b da e e b tee s wi whc
       r en ' n r l c es or i xc nge. The e ar t pos tve r uls of t
               s
     entepr eul ca cur enty a c s f e gn e ha s e he ii es t      he
     e     c ef ms mpl t n he is s ) he tucur d usme ogr mme
      conomi r or i emened i t frtpha e (ft sr t ala j t ntpr a
        ch he       oup tci ed n.
     w hi t Bank G r pari pat i

      1 40
     2. .       er l s s ment e er l s e s t he
                            .                           s a if ct y.
              Ov al As e s 'Th ov al a s s men of t LOC i s tsa or
                                   -
                                       8-
             l i
         Conc us on

  1.
2. 41        t    om
          W ih a c pos t r tng of 2. a s n i Anne I ,t e ov a lper or a e
                        ie a i     3 s how n     x I h     er l    f m nc
   he ec or s a i f ct y.      s s nt at      1 r nt      d ve ee gher
of t s t i s ts a or The dibur em e r e of79. pe ce woul ha b n hi
  d he con n            e t tre o s s         a n h mplmentton ofbot
ha t Se d Lie ofCr di sa td t dibùre.The dely i t e i e         ai       h
 he ndusra eha lt i             d h    c   n      e t ns o h         e or
t I t il r biiaton Loan an t e Se ond Li e of Cr di poi t t t e ne d f
l xbi y t h n s e a d h l bit f u prjcs n u r n y n g me t
     i hi                     g i
te i lt wi nteBa ka rg r st eeii lyo s b- oe t a dc re c ma a e n
     i        ecenty appr
practces. The r    l     oved new l pr
                                  oan oduct have l gel s ved t pr em s
                                          s      ar y ol      he obl
  s ie      t ure y       a   nt n ddii es c        he ype   he r tona
as ocatd wih c r nc man geme .l a ton,r our esoft t of t tadii l
 i     r t ovi d       he      Ow ee o e de     e om ettv n ennsofc t
lne ofc edi pr de by t Bank n n d t b ma mor c p ii e i t            os
 nd            i er br h     o e ta i e n i a ie c om e uc s hat
a m ode of delv y t t em t b atr ctv i lber ls d e on i s s h a t of
  mba
Zi bwe.

C.                C   LI ES
         THE PUBLI UTI TI SECTOR

  1.
2. 42              oup s ian e e n oecs d wo tdis n hi e t .
         The Bank Gr ha fn c d s ve prj t an t su e i t s scor As
       ul 997, n c m im e s i t s ct am ount t U A 11 68 m ilon. The
of 31 J y 1                       1
                et om t nt l he e or              ed o       5.    li
 nt ventons     nvol     he      lpm    )    er uppl aciii n ur
i er i have i ved t devell ent (f w at s y f ltes i r al and ur         ban
  e s, m ov     t      he el c        c i s ys e           l s e lt ton,
ar a i pr em en of t t e om m uni aton s t m , as w e l a r habiia i
 ei or m     d e i         he ec r ciy et k.      he ne er i       ove i
r nf ce entan ext ns on oft el t i t n wor Oft ni op atonsappr d,fve
  e   goi   nd e            ove n c
ar on- ng, a on was appr d i De em be 1                 a es m     i o
                                          r 996. Loan bal nc a ountng t UA
  57 li     r a eled           er    t equ t
2. m ilon we è c nc l on Gov nm en r es .

C.1             CI   1
         ELECTRI TY 1 PROJECT (NETW ORK REINFORCEM ENT AND
         EXTENSION)

  1.
2. 43    Backgr       d s r pton: An A DF I n Of UA 11. m ilon a an AD B
               ound an De c i i           oa          05 li nd
on f      2.4 lo r p r e n v mb r 9 0 o h e tiiy 1 oe t
                i
la o UA 1 6 mil n wee a p ov d i No e e 1 9 f rte Elcrct 1 Prjc .
    o e ts j tv s o t aent nd owi lctiiy        nd   ovi ng et k
Theprj c' obeciei t mee It a gr ngee rct dema bypr di n wor
 e nf c     t nd xt i s n I r s     r        t e ent s bl o et m nd
r i or em en a e enson i aI a ea whe e ZESA a pr s i una e t m e de a
         m ovem ent f I of m at aldue t cons r nt i for gn exchange.
or m ake i pr      s or ack    eri     o    t ai s n ei

  1.
2. 44      oict ocr s :  oan e mentwa sgn i M a 1
         Pr e Pr e s The l agr e                     i     hs fer
                                     s i ed n y 991,sx m ont a t
o n p r a . we e . h rjc e a fe tv            5 a u r 9 4. to h h
la a p ov l Ho v r te p oe tb c me e fcie on 2 J n ay 1 9 Alh ug t e
  ec i genc m a efor s t f f lt ot r c tons a f n ci cove nt of t
ex utng a     y de f t o uli he he ondii         nd i an al    na s he
      s oan om     he a ge t    r ot es ct d.     t he bt e vi over ge
Bank' l s,s e of t t r tda es we e n r pe e To da e,t de s r ce c     a
 ato s tl ow he equie .           et n    t i ed s e s oul ot     c at l
r i i s ilbel t r r d l 5. The r ur On ne fx a s t c d n be a cur e y
     t ed nce                et he eval i      t et             i
m onior si ZESA has notcom pl ed t r uaton ofisass s.The Executng A gency
          ubm ti t     t l ogr s epor s ) atsf or        iy egul l
has been s itng is quarery pr es r t (f a s i act y qualt r ary.

  1.
2. 45      ocur        or
         Pr em ent Perf m ance: A I contact packages wer aw ar
                                  1    r                e          hr
                                                              ded t ough
nt na i        ttve ddi l     y nd 995. ZESA h f l comple wih Bank'
I er tonalCompe ii Bi ng (CB)b e l            as uly    id t      s
  es
Rul of Pr      e or ocur       t     brnance was s i act y.
         ocedur f Pr em entand is perf l          atsf or

  146
2. .       nan a rbr c                ul 997 h s s     t ev   s
         Fi cilPe t man e: Asof3lJ y l t e diburemen I elwa UA 7.   33
  li e es ig bout 58% of te ADB ll The e ha bee sgniian delys i
milon r pr entn a            h         lan. r ve n i fc t a n
 s s      s     or gn urenc ec ts he       c ig enc          a la t
diburement of f ei c r y b ale t Exe utn Ag y was not f m iir wih
     s s s nt oc dtr .        l h l nd- om ) he on r ct um nt nt
                               l
Bank' dibur em e pr e les O n t e ot er la s e (f t c t a doc e s w e
      si     l il Bank' r t uc urng pr es .w hi h ha l d t f t rdel ys ZESA ha be n
    m is ng dlrlg.     s es r t i    oc s     c s e o urhe        a .         s e
     bl o vvi equie ount pat un      i y ss.
    a e t pl de r rà c er r f dson atmel ba i
      1.
    2. 47        i t nd
             A ctvii a W or : Prjcti e tt i stsa or and i i enviage
                 -  es                   on
                          ks oe mplmenai s aifct y      ts s d
    ha he i nal cope he oe l ompl e y une 998. e onsr cton
    t tt orgi s oft prjctwilbec etd b J 1 Th c tu i of
     32  r mison i            et n 9          i    h     eral upple r
    1 kv tans s i Ine was compl ed i 1 96. M os of t e mat i s is we e
       i rd       y 997.The perbr an e oft e cons t nta t c t a t s i s ts a or
    delve e by M a 1           t m c      h      ula nd he on r c or s a if ct y.

      148 'mp c o De eo n : De pi te i lme tt n d ly ,te p o e t i
    2. .    I a t n v lpme t     e             o
                               s t h mpe nai ea s h rj c s
     xpece o chive t e ies e mll pt i    he o e t l ovi         t
    e td t a e isobjctv .Th i jeme atqnoft prj c wilpr deZESA wih
            ede r m s i        srb i      ap ciy o   t he ow ng   nd
    m uch ne d tans is on and dit i uton c a t t m ee t gr i dem a of
     lcrcty. e rj c l h s onrb t infc nl o h e eo me t f h o r
                                         y
    ee tii Th p oe twiltu c tiue sg iia t t te d v lp n o te p we
     ect       ovi he    gy      or t ned     opm      m
    s or and pf de t ener needed f sus ai devel entof Zi babwe.

     14
    2. .9      e al s sme t e al h l e nain f h rjc a e n e y
                                         np
             Ov r l Ase s n : Ov r l,te i lme tto o te p oe th sb e v r
              nd he  ai     i e     he t i s l ovi           he   iy he
    m uch behi t appr salestm at butt siuaton i inpr ng and t quglt oft works
    s i f or
    i sats act y.




     2
    C.              CI
             ELECTRI TY STUDIES

      1.0
    2. 5        ckgr d d     crpton:          a )      1 li         ppr d n
              Ba oun an Des i i A TAF gr nt(fUA 1. 5 milbn wasa ove i
    1    o i nc wo e si lt t e am l           ae d    awa    s rbuton   t
     990 t f na e t f a biiy s udi s n e y Har r an Bul yo D i t i i Sys em s
     td n h       a e tiiain se a u y.
    Su y a d te RurlElcrfc to Ma trèlnStd
       1 51
    2. .        udy ogr s:            a     i ed n a y 991 nd c       f ctv
               St Pr es The TA F gr ntwass gn i J nuar 1 a be om eef e i e
     n
    i Aprl1         e à
           i 994.Th dely wa due t)n. t fl
                            s        l ul             he ondii   e ede o he
                                  ( ln - imentofone oft c tonspr c ntt t
       r nt or e       he a      ch e r d he     r          m     o ubm t
    enty i o f c of t gr nt whi r quie t G ove nm ent pf Zi babwe t s i an
         ove ur e r fc i        i y o he nk. s ondii      ul           t s
    appr d r alel ct ii aton polc t t Ba Thi c ton co d notbe m etas i w a
          tona    he t   t el a n a e. e er nt h ef ç equ t nd ai d
    condii lon t s udy is ft ki g pl c Th gov nm e t er or r esed a obt ne
          ver r   he        hi      ton n
    a wai f om t Bank of t s condii i M ar 1ch 994.

      1 52
    2. .       ocur         f m ce: e kc e         ) on ulan y er c   s ar i
              Pr ementPer or an Th prl ur m ent(fc s t c s vi es wa c red
         hr     i t    '
    out t ough lm ied clm petton i accor
                             ii n                t      s delnes    he
                                        dance w ih Bank' gui i on t use of
        ulant
    cons t s.

      1 53
    2. .      Financi Perbr alce: A s (1 3l J ly l , t di bur em e fom t TA F
                    al l nl l          )
                                      .*     tl 997 he s s nt r         he
      an    s . 5 nilon. l           ec i         l s ovi d e r
                                                  ci
    gr t w a U A 0. 6 l li Tle Ex utng Agel e pr de r quied c t r ar  oun e p t
'
.
        rbuton.
    cont i i
                                    -
                                         0
                                        l -

 15
2. . 4      tvii     d
          Ac i tes an W orks

  154.        ar Bul         s r buton s e
2. . I Har e- awayo Dit i i Sy t m sSt                      ulant s elctd n
                                                udy: Thecons t wa s e e i
   r 995 i1 a f n r tw a s l it d by t cons t nti M a c 1
M a ch I    l
            l d i al epor s tbm te          he                        e r
                                                 ula n r h 997.Ther w e e
   ays n l i               ie a        ch ed o he ays n       usi   he t
del i colecton of approprat dat w hi I t t del i concl on of t s udy.
       f m         he      t s if or
The per or ance of t consulant i sats act y.

  1. 2       al ec r fca i     t r an udy: Th cons tnt was s e e i
2. 54. Rur El t ii ton M as e Pl St           e     ula       elctd n
   em
Dec ber 1       d i ep t s ubm te n        ch 997. Th per or anc of t
          995 an a fnalr or wa s it d i M ar 1       e f m e        he
    ulant s i act y.
cons t i satsf or                                       '

  1.
2. 55      mpa
          I cton de onme : The i cton dev opmen of t Elctiiy St es
                   vel  nt     mpa       el    t he e rct udi
  l      ii
wilbe postve.A numberofp       el nt oe t ve en de iid r he
                        owerdev opme prjcsha be i ntfe fom t
  nk ianc d t di .   k    e ei d e s r h             r nt or i nci
Ba fn e su es The Ban hasr c ve a r que tfom t e Gove nme f fna ng
 e tii I rj c e utn r h e o n ain f h b e tdis e rj c
      y
Elcrct IIp oe tr s lig fom terc mme d to so tea ov su e .Th p o e t
         ncl    n he    s 998 I ng pr am m e.
has been i uded i t Bank' 1   endi   ogr

  1.
2. 56         al s m '
          O ver lA s ess ent O ver l t s udi have experenced I st tup del
                            .     al. he t es          i     ong ar-     ays.
           he m em aton        le t es            atsf ory      hei es t e
H owever, t i pl ent i of tl sudi have been s i act and t r r uls ar
    tve.
posii




C.3      TELECO M M UNICATIONS PROJECT 11

 1.
2. 57      c oun nd crpton: l rj c ch s ppr d n          993 t
         Ba kgr d a Des i i Tlepo e twhi wa a ove i May 1 wih
 n     oa           00 li       s n nt gr   t he l om       c i       c or
a A DB l n of U A 27. m ilon w a a i e alpar of t Te ec m uni atons Se t
nve t   a     e : ie s o i s h iiaton he sig a iy,
                  e
l smentPln whos objctv wa t optmie te utls i oft exitn c pact
                                              .
 he e m ovi h          ly   er c nd t k f i en y d e ng he tng it
t r by i pr ng t e qualt Ofs vi e a ne w or e tci c an r duci t waii ls
    ubs i s
of s crber .    '

  1.
2. 58        ol
              ec oc es     e oan e m      s i d n ce er 993 and was
          Pr ' t Pr r s: Th l agr e entw a sgne i De m b 1
  cl r f e i e n bl y 994. W ih r r t t e Ot r Con tons ZPTC ha now
                     ua
de a ed e f ctv i Fe - r 1      t ega d o h   he   dii .       s
 c eve he j ctve 7 odtcig elphone bil wihi 20 days of mete r di
a hi d t obe i (f pr l n t e        ls t n              r ea ng.
         l      ur            aken t)inprl t qualt ffs vi w hi ar stl I s
M eanw hie.m eas es have been t     ( l lve he     iy ) er ees ch e il es
ha a i f c or      e e ig         nc s en eg a l ubm ti g t     rery ogr s
t n s ts a t y. Th Ex cutn Age y ha be r ul ry s itn isqua t l pr es
 e t , he     lt       c s ats ac or       d     ubm t   udi e t i g 996.
r por s t qua iy of w hi h i s i f t y butdi nots i an a tr por dur n 1

 159
2. .      oc enent f ma e:    oec eren d       i rbl oc e
         Pr url Peror nc The prj texp i ce consdea e pr urment
  ays     nl l t he    s     l lart t          s ocur       ul        delnes.
del m ai y dte t)t EA ' non-bm ii iy w ih Bank' pr em entr es and gui i
 n tc a , he e r or h         r te er al a , d o           e er e o he nk'
I par i ul r ( t nde f t e Bor ow dll Ext n Pl nt ha t be r f r d t t Ba s
 oc ementReviw Com mit e (
Pr ur       e                olowi     ompl nt  dder nc hen, he
                     te PRC) f l ng a c ai ofa bi .Si e t t
 er or nc    he    d      i nc t he       s ul       oc dur s ve m ov
p f m a e Oft EA an com pla e w ih t Bank' r esand pr e e ha i pr cd.
                                                                              m N
                                                                             X. '




  1 60
2. .      nan al f m c         )
         Fi ci Perbr an e: As (f 31 J y 1 7 t e dibur e ent f om t Bank'
                                     ul 99 l s s m
                                             a               r   he    s
oa s       82 li    d           ovi d I e r ount r unds on a tmel
l n i UA 6. milon àn ZPTC haspr de al r quied c em a tf             i y
 ass    eov .           ci d o el-ian hre oe            nt, .
b i. M or er ZPTC has de de t s ffn ce t e prjct compone s ie.
   r   e e na ant l ar di t k nd ne otcton t
Borowdal Extr lPl ,Celul Ra o Ne wer a Li Pr ç i Unis.

  1.     tviis nd    ks:    t i ontacs ve b e      r d er nk'
2. 61 Ac i tè a W of To dae,fve c r t ha 'e n awa de ùnd Ba s
 i ncng.  onta t Or e c      a    nt t     s i d n i 995     te
fna i Thec r c f Frquen y Man geme Sysem wa sgne i Aprl1 andtl
 qu pmen ha be delv ed.The conta or f ot erc ta t ha mobiie a t
e i     t s en i er           r ct s or h on r c s ve    ls d nd he
 oet s      ced o       etd      c r 998 c       ns wo ar lppa
prj c i expe t t be compl e by De embe 1 whih mea a t ye si ge
 om r d o he tmat t ppf ia .      it           d e vi s  en evie n
c pa e t t esi e a a as l The ls ofgoods an s r ce has be r s d i
  der o uly iie he c    te     an r      he   k' oan.
or t f l utls t un om m it d bal ce f om t Ban s I

 16
2. .2    mp c n v lp n : e rj c s x e td o mpr e h u lt f iy f
         I a to De eo me t Th p oe ti e p ce t i ov te q ai o l e
 n h ur      d e - ba e s hr
                m                   he ovii      s en i el c       c i
i bot r al an s ' iur n ar a t ough t pr son of e s tal t e om m uni àtonj
er c o h       aio    e oe l s pur c omi owt         ovi ng t
s kiest te popult n.Th prj ctwilalo s e on cgr h by pr di vial
el         catons aciii o er ies.
t ecom m uni i f ltes t ent prs

 16
2. .3      e al s sme t e v rl e f ma c f h rj c s aifco y.
         Ov rl Ase s n : Th o ealp rbr n e O tep oe ti stsa t r
                                      N
                                 RA TI G




 4
C.       H ARARE W ATER SUPPLY PROJECT              UTI ZATI
                                                   ( LI     ON OF LOAN
             NG
         SAVI S)

  1.
2. 64      ckg oun
         Ba r d and Des i ton: A Ban I (fUA 1 22 m ilon was a ove
                       crp i        k oan )  7.    li        ppr d
n us 9 7 t ia c r r tr u py o e t e rjc c mp ie o sr cin
            '
            l
i Aug t1 8 t fn n eHa aeW ae S p l Prj c.Th p oe t o rsd c n tu to
   r at        ks     ng t i l d r ns s i i e o r en ont ol        t ton.
oft e m entw or ,pum pi saton ln t a m i son ln t W a r c r pum p s a i
  e k i c he r s si          is i l n uppl     ls     l he e t he
Th Ban fnan ed t tan mison man (ncudig s y ofvave )whiet rs oft
          s e i         by B     he    ar t        l
com ponent w er fnanced , EI and t H ar e Ciy Counci.

  165 Pr ec Pr e s Th l na e tf prjctwassgne i Aug t1 a
2. .      oi t ocrs : e oa gremen or oe         i d n us 987 nd
  ca   fctve n y 989.r    i na oe        ub tntal    etd 99 t
be meefe i i M a l 'heorgi lprjctwass sa ilycompl e by 1 2wih
  oan an e     ig o    0.    lj     sa ng. n ul 992, h nk ppr ed
a l bal c amountn t UA 1 70 milon outtndi I J y 1 t e Ba a ov
 he iiaton    he oan ance w il a vi t car yi outext on wor of t w at
t utls i of t I bâl          tl ew o r ng          ensi     ks he     er
 uppl ysem n ar om i i . he t i
                            )              d ef bihm     he    r     r
s y s t i H ar e c prs ng (ft ex enson an r ur s entoft W ar en cont ol
       t i nd uppl d ayi .* r ns s i
                              )               ns we       rn d t
pum p saton a s y an l ng (1a t a m i son m ai bet en W ar e an Le om bo
                                 '             .
                      .                  .

e e v is oe t r grs e ors ' aitco y u ly a e e n u mit e ulry.
                                          t              e
r s r o r.Prjc p b e srp t o1a stsa tr q ai h v b e s b t d r g a l
                                     '

2. 66
  1.       oc emed rxor t e: e a       n    e s or t i           ks t re
         Pr ur ltPe f mtnc Th Iunchig oftnder f exenson wor sa t d
 n 993 hr l C     Ill     r ct or vi    ks     n qui       , k e rct
i 1 t otgh I B.A l t e conta s f ci lwor ,pum pi g e pm ent bul el ct i iy
 nd peln      e en w r d l d h      ks r n ogr s.         oc e
a pi i es hav be a a de cn t e wor a e i pr es The pr ur m ent of t e   h
  t ng    pmentwa delye dte t asudy t tne de t b c re Outon t e si
ptm pi equi                  )
                 s a d l ( t ha e d o e ar id               he xitng
   t             i     t
sysem .The com plance wih Bank' l e (fprtcedul f pr em entwas sats act y.
                              s' ) p
                                 ul           e
                                             ' br ocur           if or
  1.
2. 67     na al f ma e: e s s mentfom te Ba s l i UA 1 48
         Fi nci Peror nc Th dibur e          r   h   nk' oan s       4.
  li     e r e t          ci a en e o ovi e de at         e p t un .
m ilon.Th H a ar Ciy C oun l h s be abl t pr d a qu e count r ar f ds

   1.
2. 68          i te d        ks        mplmen a i       ontac s s ng r id
            Aètviis an W or : The i e t ton of c r t i bei ca re out
 a if ct iy nd he f m nc           he ont a t s s ats a t y.     e i     ks e
s ts a or l a t per or a e oft c r c or i s i f c or The ext ns on w or ar
    ng m eme ed ats a t iy d e             xpe t d o
bei i pl nt s if c orl an ar now e c e t becompl e by J 1   etd             t
                                                                  une 998,afer
     a
a del y of a        ar r     h i n c dul          e i e on or he a s
            bout4 ye s f om t e orgi als he e.Th m a n r as f t del y i due to
 he a perenc d          i he o ementpr es
t del y ex i e durng t pr cur                oc s.

  16      mp c n v lp n : e o e t a o i e e eo me t mpa t n a
                                            i
2. .9 l a to De eo me t Th prj c h sap stv d v lp n i c a d h s
 c e e t rg n l be tv      e xe so    k en mpe ne sn h o n
a hiv d is o iia o j cie.Th e tn in wors b ig i lme td u ig te la
   a e l urher tengt n he t uppl yse n r e    mpr   he ua iy
balnc wilf t sr he t waers y s tm i Ha ar and i ove t q lt
    er c s.
of s vi e

 . .0
2 17        e al s sme t e v rl e fr n e f h oe t s aifcor e
          Ov r lAse s n: Th o ealp ro ma c o teprj c i s tsa t y.Th
 olow ng s um r val ton     he r or nc ndi at s.
f l i i a s m a y e ua i of t pe f m a e i c or
  .                             *


                                    RATING




  1.
2. 71        kgr
          Bac ound and D e crpton: A TA F gr tof UA 1. 1 m ilon wa a ov i
                          s ii              an        1    li     s ppr ed n
   embe 992. Thesudy i ai a prparng aprj c t a
Dec r1           t s med t e i                      he t uppl or
                                      o e t o ugmentt waers y f
   a e.    t   s ng r id       n wo rs as       d    e 1 t dis d he
Har r The sudy i bei ca re outi t pa t ,Ph e Ian Phas 1 su e ,an t
 xe utng ge y s    ae t      ci.
e c i a nc i H ar r Ciy Coun l

  1.2
2. 7         u
           St dy Pr e s The gr t a e
                   ogr s :              t s i d n     i 993 an be ame
                              an gr emen Wa sgne i Apil 1     d c
  f ctv n c
ef ç i e i D e em ber 1993.

  1.
2. 73     o e           f m ce: Th c ula y s r ce f Pha e 1 s u wer
        Pr cur m ent Per or an    e ons t nc e vi s or    s 1 t dy    e
  o ed hr       i t d nt na i l om tton n c or nc        t
pr cur t ough lm ie i er tona c pe ii i a c da e w ih Bank G r     oup's
  o dur     he el ct d s t        ls d        e er 995.The c planc wih
pr ce esand t s e e cqn ulantm obiie on 1N ov m b 1         om i e t
  nk'   e     oc dur Or ocur nt        ats a t y.
Ba s Rul of Pr e e f Pr em e was s i f c or

  1.
2. 74                          )     ul 997, t e di bur em e f om t TA F
            na al l m nce: As (f 31 J y 1
           Fi nci Perbr a                    h s s nt r           he
  a      s      55   li
gr nt w a U A 0. m ilon. The    cutn    enc     ovi d e r d ount r t
                             Exe i g A g y pr de r quie c           e par
    rbuton.
cont i i          '

  1.
2. 75          i tes d     ks e e r i            h e fasbiiy nd e sbiiy m
           Actvii an W or : Th pr pa atonsofte pr -e i lt a f a i lt s dy
 epor s     aw    t e our e av
r t of r w a er r s c s h e be com pl e The det l d de gns of t i a
                                     en     et d.     aie   si      he nt ke,
 r t          ks      n t tons r ns s i nd s rbuton ys e         e oc di
tea m ent wor , pum pi g s a i , t a m i son a dit i i s t m s ar pr ee ng
 a i f ct iy       e arng        eton. ogr s ' t av ee ubm ted egul l
                                               e
s ts a or l and ar ne i com pl i Pr e s I pors h e b n s it r ary.
         f m ce     he     ula s a if ct y. - ve , he t dy l
                                                l                     bo
The per or an of t cons t nt i s ts a or I ow e r t s u w il be a ut 33
      hs hi che e ch s l y e o hc l y n tmpl i
                                   l                            he r r t
m ont be nd s dul whi i mai l du t t de a i cl eton oft Ha a e Ciy
    tr a        c s n ar i l s e r t t y. s he t                   s o ovi
M ase pln whih i beig c red otta a s pa ae sud Thi Ot rsudy wa t pr de
 nput o he        s i c d tl
i s t t Bank' fnan e st       dy.
  1 76
2. .    m c          opm nt e m c       vel   nt he r e      e ppl
       ï pa ton Devel e : Th i pa ton de opm e oft H a ar W at rSu y
 udy s   i e a if ct y.       nk as e ei d eq t r h          rme or
St i consder d s tsa or The Ba h r c ve a r ues fom te Goverl htf
 iancig l ae er      y 1 ojct e ulig r he e omme tonsoft sudy.
fn n Iarr W at Suppl 1 Pr e rs tn fom t rc      ndai   he t
  e rj c a e n n ld d n l n ' 9 7 e dig r grmme
                         l
Th p oe th sb e icu e i t eBa ks 1 9 In n p o a .
  1.
2. 77       er l s s     :    t s ng mpl ntd a if ct iy d s ea i
          Ov a lAses ment Thesudy i bei i eme e s tsa orl an i n rng
      eton.
com pl i

                                      N
                                  RATI G




 1.
2. 78       t        ie ai : 4 h         n     x 1 oec mplme aton n
         W ih acompost rtng 012. ass own i Anne 1 prj ti e nt i i
hi e or s n ener l b n s ts a or I owe r de a la be exp i e a t
t s s ct ha i g                   l
                a ee a i f ct y. - ve l ys l ve en erenc d t he
e es f rjc fe tv n s n o urme t           v rg rjcs o k 8 n h o
lv l o p oe te fc ie e sa d prc e n . On a e a e p oe t t o 1 mo t st
  c      f ctve ar y (n c    . h gnor c ) he e ig           nci    he
be ome efe i I gel .) a count of t e i an e (f t ex cutn age es of t
  oc es o      olowe n uliln    sa ng dii         lo hr     h eglct
pr edur t be f l d i f flig Outtndi con tonsbutas t ough t e n e of
he ounty oe fc s he mpora e hi s ct oec            age .
t c r prjctofier oft i tnc oft sape ofprj tman ment At54.        2
 ec n , h e e    s u s me t a a g d e id h ia mpe nûi f rj cs
                                                     o
p re t te lv lofdib re nsh slg e b hn p ysc li lmq tt n o p o e t.
D.       THE TRANSPORT SECTO R

 17
2. .9      e n o p a ia c d wo u a o d rj cs n al y r jc n
         Th Ba k Gr u h sfn n e t r rlra sp oe t.o er iwa p oe ta d
   ur oa t      n hi e or s ?        ul 997,n commime s amountd t UA
a r alr ds sudy i t s s ct . A. (f3lJ y I    et   t nt       e o
 2.  li       ljctv h oa oj t s o sit he        r me o e e he
7 07milon.The(be ieofte r dpr ecswa t ass t Gove n ntt rduc t
m anc     s rbuton ) r pol aciil nheried I om t col al er w hen m ost
i bal ed dit i i (l t ans ' l ltes i
                   .      t           t r      he oni a
a lte r r td owar er n j       ni d         ci grc t al e o
fciiiswee diece t dss vig maormi ng an commer ala iulur arast
 h    ti         h           al ' m r
                                a        o xpere e gr t difc tes i t a por i
t e de rm ent of t e cöm m un l r e s w h e    i nc d ea f i uli n r ns tng
 hei oduc o h r t e aiwa oec s med uppori t Gov nments
t rpr et temake .Th r l y prj twa ai ats             tng he er     '
  o r ef m jctve te mlnig n ommer alsn te a i tes ofpaa t al
br ade r or obe i of sra i n a d c         ci iig h ctvii      rsat
     ai , n ariul ,le i l l ys) mba
opertons i p tc ar tl Natona Raiwa (fZi bwe(        .     n a e Rurl
                                               NRZ) A Loa balnc ( a
    ds )     i o      4.    li    s an ele        r     equ t
Roa 1 amountng t UA l 29 milon wa c c ld on Gove nmentr es .
D.1                   1
         RURAL ROADS 1 STUDY

  1.
2. 80    Backcr      nd
               ound a Des i i A gr ntofU A 1. m ilon w a appr d by t
                         crpton:  a         38 li       s    ove   he
     n y 993 o     ça t e nt) ie oa .       jctv  he t es s o
Bank i M a 1 t undetkesudisi l fv r ds Theobe ieoft sudi wa t
nves i t he e c e i lt            c ll l i a lt
                                     ll               m ovi i arh/ a l
i tga e t t chni al f asbiiy and e tl l lc vi biiy of i pr ng fve v t gr ve
oa o tl        t dar nd ube o l ov nt bun a e o e r aie
r ds t bitmen san d a s jctt inpr eme s t d vibl t prpae det ld
   gns   ender docum ent
desi and t             s.

  1.
2. 81       u    oar s : e     tl ol ) a l gr em nt s i e        c
          St dy Pr e s Th pnltc (f gr lt a e e wa s gn d on 1 D e em ber
1      t ca       fe ie      3 anu ty 995. The Ph s l Fea i lt Stl f
 993 an l be m e e f ctv on 1 J Cr 1              ae     s biiy tdy or
  r         M am nda s      et      l  he easi lt t   elm nar l neeri
Bichenough- ur bi i com pl ed w hie as t f biiy ênd pr i i y clgi     ng
                                    -
                                         4
                                        1 -

 t e ol he        r      W s c s           ad nd he        - phi a     d r
s udi s f ' t M be engwa- e t N i hol on Ro a t G wanda M a s Roa a e on-
   ng. 1e easi lt udi or'he           i M
goi 7'1 f biiy st es f t Skylne- ubaia-               u             ew M
                                              r chegut Road and M ur a- acheke
                                                                   '
                                                 %
        e tlll       et              he i aken f om appr
Road ar Clltst com pl ed. H owever, t tme t       r              he ant n
                                                         ovalof t gr i M ay
1     o le t t al       ce            k n    e      995 s oo ong.Thi w a due
 993 t tl êc u com m en m entof w or i Dec m ber 1 w a t l             s s
   i y o he l ubm s i         d epar i       h h t it nd
m a nl t t s ow s i son an pr aton of t e s or Iss.a RFPS.

  1.
2. 82       ocur      f m c         r   s o obl n h el ton       he w
          Pr ement Per or an e: The e wa n pr em i t e s ec i of t t o
 ons t nt o      ct h t es        w     e el c e c or ng o nk ul
c ula s t condu t e s udi . The t o wer s e t d a c di t Ba r es an   d
  oc    e
pr edur s.

   1.
2. 83        n ci      r or c          i nc al er or nc or he t di
            Fi an al Pe f m an e: The fna i p f m a e f t s u es ha be n
                                                       '
                                                                        s e
                           .
 a i f c or        c s ton      h w on ulant s t n           t h s sm
s ts a t y. The a qui ii ol t e t o c s t s wa w ihi budge , t e di bur e ent
 l      nd he       ont i i l ve en        i ' nd    os   r un s ntc pat d.
f ow s a t GO Z c rbuton la be on tm e, a no c tove r i a i i e A s
    0 y 997,t e wa no dibur el ton t e AD F gr tow i g t t e G ove nm ents
of 3 m a 1        her    s     s s nen      h       an   n o h        r     '
    ce ) he ei        el         ?' sbur el .
choi (f t r m burs nentm ode tldi s nent

   1. 4
2. 8        i tes nd
         Actvii a W or        e t es r l goi nd t s i pat ha he
                        ks: Th s udi a e (n- ng a i i antci ed t t t y
     d e      et d   t n h ch e i              ar he ons t nt
w oul b com pl e wihi t e s edul d tm e. So f , t c ula s and t     he
mplm nt ton gen h ae armentofRoa (
i e e a i a cy t e St t Dçp t          , qv ror d a if corl
                                ds SDR) h e pe f me s ts a t iy.
  1.
2. 85      m c         el      : t h ow t t h t es e n ogr s               a
          I pa ton D ev opm ent A fert e sl sar .t e sudi ar i pr e sand ne r
 he d- k       om eton - s biiy t e nd elm na y gi e i
                           e                                      t s xpe e
t m i m ar ofc pl i of t a i lt s udi s a pr i i r en ne r ng. I i e ct d
 ha he es t     he t es      d e ii e ha       d ven ua l ea o i nci
t tt r uls of t s udi woul b pos tv t twoul e t ly l d t f na ng of t     he
  vi    ks
ci l wor .

  1.
2. 86        r l s s ment Th Ov al a s s ment f t c
         Ove al As e s   : e er l s e s                  t he t es s
                                              or he onduc of t sudi i
 atsf or     ndi ed n he atng ow
s i act y as i cat i t r i bel :




 2
D.          LW
         RAI AYS I PROJECT

  1.
2. 87       kgr     nd s rpton: e l ys o e t s ppr e         he k
         Bac ound a De c i i Th Raiwa IPrj c wa a ov d by t Ban
 n     t 993 d i d       0 y 99    e oan s de         en
i Augus 1 an sgne on 1 Ma 1 4.Th l wa ma upofabl dofADF (       UA
  21 li nd           UA 50 li )         oe t on it : a) e a eme
9. milon) a ADB ( 32. milon .The prjc c sss of ( rplc ntof
   talz    afi      r CTC) s er son e pmen on t Har r M ut r ln a
Cen r ied Tr fc Contol (     up vii qui t he a e- a e ie nd
 nt l i       w el ommuniatoncare -( n r l y c ch ( unis ;a ()
isalatonofane t ec                 '
                          c i rir b) ew aiwa oa es 56 tl nd c
 c ston       t bl a os br r n ew om    c ton 3l  t)
a quiii ofpora e r di t tai cr c munia i ( l unis .
  1.
2. 88      oic o:r s :
         Pr e t Pr e s Th con tons pr c dent t fr t dib s m e wer nOt
                         e   dii     ee       o is s ure nt      e
ulil     tl      t er 996. Th c dii whi delye t I s bei de ar d
f fled un i 28 Oc ob 1       e on ton ch a d he oant) ng cl e
e f ctv w a t r - l i o1 a s s w hi h w a n dln untl O c ober 1 . The
 f e i e s he e eva uaton ' s et       c     s ot l e    i t         996
                                                                       .

     r s or t e        os, - t ephone car i and t acqui ton of 56 coaches have
cont act f porabl radi C lc/el           rer    he    sii
  l
al been appr        he
            oved by t Bank.

  1 89
2. .      rc e
         Pl ur mentPeror
                      f manc AI pnl e
                            e: I cur mentl e b n done i1ac or nc wih
                                         lav ee        l c da e t
 he ocedur and rles of t Bink.
t pr     es     tl     he l
  1.
2. 90    na a
        Fi nci lPerbr anc As of 31 J y 1
                   t m e:                    y      53 li      he
                                    ul 997.onl UA 0. m ilon of t A D B
 oan d ee s s d d        s j nt a e        de he      oan     o t r-
I ha b n dibur e an no dibureme h s b en ma ont ADF I duet sa tup
delay.
         '

 191
2. .       tvt n
              e       k : nrcs o o tbe a o a e e n in d. o e o
         Aci iisa dW or s Co ta t f rp ra l ràish v b e sg e Th s f r
       c i      pmenta n coa hes a e outt ndi Th i eme a i s hedûl
comm uniaton equi     nd ew c     r    sa ng. e mpl nt ton c     e
 a u f rd l a e f v r e r.
             p
h ss fe e a sip g o o e 2 j a s
  1.
2. 92      mpa t       l      : tr he elv y nd nsa lton     he a os nd
          I c on Deveopment Afe t d ier a i tla i of t r di ,a
 he          c ton qui     , s l s he c s ton     he w ac , he e vi es
ot r com m uni a i e pm ent a wel a t a qui ii of t ne co hes t s r c
          e      ed o  m oved i t m s ofpass
of NR Z ar expect t be i pr   n er                        s,    he ni saton
                                            engerm ovem ent and t m i m i i
 f c de s
o a ci nt .

 19
2. .3      e al s sme t e v r l mpe nain f h iwa      oet a o
         Ov rl Ase s n :Th o e ali lme tto o teRal ylPrj c h sn t
  ogr j e a if t iy, nd hi s nl      o he ae ulim nt oa      tons or
pr e s d s tsacorl a t s i mai y due t t lt f fl e ofl n condii ,f
oa fe iene s    s    d e ul n ae t t   oec ci te / ks n e i
l n efctv s . Thi woul rs ti It sar ofprj ta tviiswor icrasnj
m e lt ton r o nd he         e    t tù e e
i pl m è ta i pe i d a t cons quen cos i cr as s.




             l i
         Conc us on

  t9       t o ost aig f . s h wn n n x 1 rjc mpe n ai n n
                     e
2. .4 W ih ac mp i rtn o 19 a s o i An e 1 p oe ti lme tto i
h s e tr a n e e a e n e s h n aif co y. ty a e e n x e in e t h
ti s co h si g n rlb e ls ta stsa tr Dea sh v b e e p re c b a te
e es r jc f- tv n s. n r c rme t
                e                           v rg rj cs o k 7 nh o
lv l ofp o e te tcie e sa d p o u e n . On a e a e p o e t to 1 mo tst
 ec    fe ie. s s agel trbutbl o h l ys oec c ook bo
b ome e fctv Thi i Ir y ati a e t te Raiwa IPrj twhih t a ut30
     hs or ei       clr d fe i       ng o h lye e evaua i      ses
mont bef e b ng de a e e f ctveowi t t e dea d r - l ton ofa s t ofNRZ.
      5 r ent h ev ' s s m s s ow             i y i i or he hoi e     he
A t 38. pe c , t e l el of dibur e ent i I m a nl ars ng f m t c c of t
 s ure n to n ea e tr n h mpen nai f i s 1 oe t
                                            o      wa
dib s me tmeh d a d d ly d sa ti te i lie tt n o Ral y 1 Prjc .
3.                                      O
         GENERAL ASjESSM ENT OF PORTFOLI PERFORM ANCE
 .
31          e e e U h sc lmplme tton     n ia c d rj cs n mb bwe â
          Th lv l fp y ia i ç n ai OfBa kfn n e p o e t i Zi a h d
 ee atsa or       s nerl ctr ) oe l mentton. owev . s s rtes
                                     npl
b ns ifct y.Thi ge a pitle(fprjcti e ai h er ma ksdipa ii
n h e f rna c       n vd a r jcs   I oz rj cs a e e f r d eai ey
                                    s )
i te p ro l n e ofidiiu lp qe t.W hi ts le p oe t h v p ro me rltv l
  l atc a l h s n h       l ii e n nd til e tr , te s a e a e j r
                           c t
welp riulryt o e i tepubi utl isa d i usra s co s o h r h v fc d mao
 o sr i t n h o ie f rj c mpe nai Th s r il n h grc lur l n
                  s                o
c n ta nsi t ec u- o p oe ti lme tt n. eeaemany i tea iu t a a d
 r por ecor .    he l l on ppr el he r
                          t                        ure t i
tans ts t s Outoft 29 (perii s a ov t by t Boa d.Fo ten (wo lnesof
 rdi i t rjcs on td n e BI n ld n h o il me so s f dusme t
    ,
c e t egh p oe t, esu y a don P -icu ij tes ca di n in o a j t n
SDA)compon t ha be c etd. Fitenoperton r n on- n
(           en) ve en ompl e     fe    ai s emai goig.
3.2        oe t mpein p rs P ) a e e n r p rd o ie f h o ee
         Prjc Co lto Re o t ( CRS h v b e p e ae frnn o tec mpltd
 rj cs Pr: t ror n e dt p t PP
          e                             a e e n rp rd o h      iul a
                                                                  u
p oe t . ojc Pe f ma c Au i Re ors( AR)h v b e p e a e f rteAgrc tr l
  n f e to rc t a Fia c l o ai AI Chn ia s tl n p oe t n
                   u           r   o    C)              e
Lieo Crdlt Ag iul r l n n eCt p r t n( 7 , iyk Re et me t rj c a d
                                      6
                                     i -

he al Ih nte c c .          erl    uson r hee e t nd hat he
t Rur Heat Ce rsprje t Theov alconcl i fom t s rporsa t oft
    s t          t l a i nf ma i SPEI , c as e           id wo h
Bank' Sysem ofPos Eva u ton I or ton ( ) whih h b en apple on t oft e
 ompee oe t, s h t h e e f t nne t f rj c o l n be t s a e n
                              a                          v
c ltd prjcs i ta te Iv lo atil n O p oe tg asa d o jcie h sb e
 aifct y. t a d rm bout 3% Or he al t               y oe , o
s tsa or l hasrnge fo a 7 f t Rur W aerSuppl prjct t 90% f    or
h     a at nr s n       n k stlme t rj cs n o 00% f te Li eo
teRurlHe Ih Ce te a d Chiyia Re ete n p o e t,a d t 1   or h n f
  e to        lc mmu iain n r l a s rj cs
Crdi t AFC,Tee o nc to Ia d Ru a Ro d Ip oe t.
3.3       om h e e ng eviw        goi oe t, he nk oup' tolo
        Fr te prc di r e ofon- ng prj cs t Ba Gr s porf i
   f ma e s ats t y t        er l erg atn        1 s hown i Annex I.
peror nc i s ifacor wih an ov al av a e r ig of2. a s     n       I
                          obl             dentfed      s y f i he i y
H ow evef, a num ber of pr em s have been i ii as adver el af ectng t tm el
 ompl i  he oe s     s elt o h olowi
c eton oft prjct. The e r ae t te f l ng:
 3.
3. 1        et      r son: Se r PCRSh hi i e te pr e ofi de t
         Proi c Supe vii     ve al   ave ghlghtd h oblm na quae
 uper son    h he  r      d h
s vi i by bot t Bor oweran t e Ban Howe ,f om J
                                  k.   ver r       r 996 t M a 1
                                               anua y 1  o y 997,
h n d ro k i il u e vso s i s o e ig ih oe t. t s ny h
te Ba k un e to sx fed s p r iin mison c v rn eg tprj cs I i o l te
r s r e t r o e t ih r e o e u e vsd
tan po ts co prj cswhc ae y tt b s p r ie .
  3.
3. 2            i e t oc e nt e             oc dur    y ec i gen e
           Com planc wih Pr ur m e Rul sofPr e e: M an ex utng a cis,
t          l    e
 hough w el awar of t Bank' I es of pr
                     he      ul
                           s '             e br he ocur
                                     ocedur t t pr em ent of goods and
 er ces, choos t i e t
s vi                              e hei '      ocur
              e o gnor hem and us t r (wn pr em ent pr        es. n uch
                                                        ocedur I s
nsa es he nk ee e pplc i ' s s
                             01
i tnc , t Ba rj ctd a iatons 1 - diburement or down pa         i t
                                                      yment untl is
  o dur     e olowe   ls s r i ul l he a e n he gdculur s c or a t i
pr ce es w er f l d. Tli i pa tc ary t c s i t a    t al e t nd he s
e p nsbl o h o e e f s u s me t br h lc mmun c t s1 Prj c .
r s o i e frte lw Iv lo dib re nsl te Tee o     èn
                                            iai 1 oe t
 3.
3. 3      s r e nt : e o e e      ib re ns n o n g n rj cs s
         Dibu s me s Th lw lv lofds u s me t o s me o - oig p oe t i
  s ily      o hr e ea on i l er    ts oi       he ei s mentmode of
esenta l due t t e r s s:() Gtv nmen ' ch ce of t r mbur e
 s s menta i op doc
dibur e                    t ton      iaton ; i) a n he oc sng
            nd mpr er umen a i Ufapplc i s (i delys i t pr es i of
 s sl         pplc i   n he
di bur euent a i atons i t Bank. H owev . s n e t e s c
                                       er i c h e ond ha f of 1
                                                        l           hè
                                                               996, t Loan
     nita i    parl
Adm i sr ton De tnent(      edu d l oc s i i
                                     e               egulr s urement
                      FLAD) r ce tl pr e sng tm e of r a dib s
 e t o en ys; d ii on c       i c t nk' o e            ul     o dur
r quess t t da an (i) n - omplan e wih Ba spr cur mentr esofpr ce e.
     Ow ev       s s nt       h      ond ete nt         d- - z
The l l elof dibureme s under t e Sec Res tlm e and M i 7ambej Rural
   eo nt o cs e          aie      eaon i nd i)       l hat
Dev lpme Prje t ar expl n d by r s s () a (i whie t of t      he
 ee o    iai n 1 o e t s x lie y e s n ii   ) re ty, h      n s
T lc mmun c to s 1 Prj c i e pan d b ra o (i . Cp r nl te Ba k i
   our gi g
enc a n Gover           t o iie h
                    nmen t utls oter met         s s ment s h a t e diec
                                        hods of dibur e      uc s h    r t
  s s ment me h a t r vol n f d l t od a alo t i ove t qua iy of
dibur e          t od nd he e vig un ne h      nd s o mpr        he lt
  s s             i tons ubm te o he nk. n ddii             derook
di bur em entapplca i s it d t t Ba l a ton. FA D I un t a N a i l   tona
    ks         h         oup' oc e      ld s ur ement Pr e e i Zi ba e
W or hop on t e Bank G r s Pr ur m ent ai D i b s       oc dur s n m bw
   i         ober - l Novem ber 1
dur ng 21 O ct                   996.

 3.
3. 4           i      t
         Com plance w ih Reportng Reguiel s: W hie t subm i on Of quarery
                              i       r nent     l he     ssi         t l
  o e ogr s e t s atsa t y. h e or s e r ubmison      oe udi
prj ctpr es rpors i s ifcor te rc d a rgads s si ofprjcta t
 epors s ghl aifct y 1 jct l epor
                                udi        ubmit or ny he
r t i hi y uns tsa or .N( pnte C tr twass ted f a Oft on-
 oig oe t urn 9 6. e t l c l n l dvs d v r me t h t ie hi
                         n a     r
g n prjcsd ig 1 9 Th B: k l sa cldigya ie Go e n n t a,wh l t s
         he e n he t,     clnl i      t l        s tpul ed n oan     ant
w as nott cas i t pas non- l plance w ih clvenant s i at i l and guar ee
 gr ment 1   e d k us nson ' s urenent )1 h oecs onc ne
                 n
a ee swilnow Ia t s pe i 01dib s l stI te prj t c er d.
                                    -
                                             7
                                            1 -

 3.
3. 5         n/ ânt a es
          Loa G r Bal nc : Be aus of t e va i us pr em s of pr ur m entdel ys,
                             c e      h ro         obl        oc e       a
     dmi srtve nd a    t ap iis y he ompl e oe s d eni ne
poora nitai a man gemen c acte ,man oft c etdprjct ha r ai d
  t a ge f n l ce Or ong
          p                 i       i               ul 997, l n ba anc s
w ih l r l a ba an s f I perods of tm e. A s of 31 J y 1    oa    l e
 m    i o       24 li UA 9. 4 li r              d     1 li r
a ountng t UA 35. m ilon ( 2 1 m ilon fom ADB an UA 6. 0 milon fom
       d ee an ele       er  t e s.
ADF)hà b n c c ld on Gov nmen r que t

4.           E@                    M          ON
          ASS SMENT OF MANAGEM ENT I PLEMENTATI
          CAPACIYY
 1
4.          e f h on tans o h u c s f lmpe nai f n ia c d oe t
                                              o
          On o tec sr it f tes c e su i lme tt no Ba kfn n e prj cs
 n r bwe i poor c diaton bet em M OF a d EAs an t e l c ofm a ge i a
i Zipba       s      oor n i       we          n       d h ak      na ral nd
 e c apa tes n                  h e l h         nity     n c her s
tchnialc cii i EAs. Att e lve oft e M i sr of Fi an e t e i no s t      pecik
  fc      i td o       ol l es    i e or h     na m      he m em nt ton
of i erdes gna e t be s e y r pons bl f t e m a ge entoft i pl e a i ofBa  nk
 o p e ain . s s u cin h t s e f r d y h p rme t f me tc n
Gr u p rto s Thi i a f n to ta i p ro me b te De a t n o Do si a d
 ntnmtona na e D1  c oor nats I el         ssa e i nci   tn
I e i lFi nc ( F)whih c di e aldev opmentasitnc fna ng.W ihi
 he F, h e s       fc e pon i e or        er tons       h or . nt -
t DI t er i an of ier r s sbl f ADB Op a i among ot er don s I er
  ni t i d ec i          cy oor n i  s e r s tengt ng.
m i s eralan Ex utng Agen c di aton alo r quie s r heni

4.2        tl e e ty,      s eu tn t n ld oe tmpe nain i PI )   s
         Un ir c n l GOZ wa r lca to icu ePrj c l lme tto Unt ( Us
 n oe t h rtx h t h x c tn g n is a d q ae a â l n s a e ,
                                                         y.
i prj csonte p ee tta t ee e uig a e ce h d a e u t c p ct l mo ic s j
 o v r p oe t mpe nai è p n i l is r s in d o fiil o r o o y
                       on        i
h we e , rjc i lme tt rs o sbite we ea sg e t o fcaswh ween t nl
 a ed t her as           lo d      oe      ge t kil       xperen
s ddl wih ot t ks,butas ha no prjctmana men s lsor e i ce.Thi        s
 iua i    c s or oblm u       s l ys n i t e d nty n o or
st ton ac ount f pr e s s ch a de a i sgnaur an e r i t f ce öf
 gr e   s lppa n m ementton s eduls a we l a ir gulr an i dequà:
a e ment , si ge i i pl  a i ch e , s l s re a d nà            t
 ogr s epori  vi g e   s d h gniu      he obl    Us r      n ude
pr e sr tng.Ha n r cognie t8 ma t de oft pr em ,PI a e now i cl d
n l ew k i nc oe s.
i aln Ban fha ed prjct
 3
4.          t r e, he
         Furhe m or t Bank h c
                            as onduc e a num b of N a i lW or hops t t ai
                                    td        er     tona    ks    o r n
 rj c fc r        n s u s me t n r c rme t r c d rs e a t e n r s
p o e tofie son Ba k dib re n a d p q ue n p o e u e .Th ls s mia wa
  d    i-        t r
hel dur ng 21 O c obe - 1 N ove ber 1
                               m     996 Th M i sr of Fi nç ha ha dlfc tes
                                        .  e nity      na e s d fiuli
n a r n l t oe ' o dn t n a o a d nsrto f r rjcs il
          ts       c      o                          k
i c ryigOt i r l of o r iaina dd yt d y a miitaino Bal p oe t many
     o              r nt
due t m anpow erconstai s.                                         '

                             NG
         ASSESSM ENT OF LENDI STRATEGY AND EXPERIENCE

           s s nt      evi    ndi   r e
         As es m e ofPr ous Le nz St at ry
  1.
5. 1        e o
          Th f cus of t 'ank Gr
                    ' he B            taegy und t e 1 95 me ul -enn
                                 oup sr t      er h 993-        di t
  ogr m            cr ec     c   i e or    o a lt e r de i r lz ton' he
pr a m e was on m a o onom i polcy r f m s t f ciiat t a lbe a i a i , t
 e biia i     d      niaton     I e or      h c         o omot gr t
r ha ltton an moder z i of a l s ct s of t e e onomy t pr        e eaer
pr    tviy, fci cy. nd      t om ton; h deni        h ovi i         ai
  oduc i t ef i en a expor pr o i t e w i ng of t e pr s on of voc tonal
 r ni o eleve h cut h tge          kil
tai ng t r i t e a e s öra of s led ma
                 .
                                                 ; d he ve opme pf t
                                          npower an t de l        nt    he
 ec g r nfatucur nd    i iii . f ms n h bove aea wer e ce t
h esay i rsr t e,a publcutltes Reor i te a
                     p
                     ,
                         '
                                              r s é :je td b
mpr   he t pher or    nc d i t r t     ri paton.
i ove t a mos e f enha e prvae s c orpa tci i                      .

  12
5. .        ot             li      d en opos or he i ncig
        A t alof UA 250 milon ha be pr ed f t fna n of t l dihe en ng
  ogr m     t     ) h es c         r k o i nc he e ond polcy- s l
pr a m e w ih 40% (f( e r our es ea m ar ed t fna e t s c i ba ed oâh.
     h es a he ccor      e: ndusr d ni     6 ;      i iii 2 ;
The s ar (f ot r s t s wer i ty an m i ng (l %) publc utltes (l %)
 r por 22% , grc t e 1 ; nd oci e vie 8%)
            .
tans t( ) a iulur ( 0% ) a s als r c s ( .
                                      -
                                          18 -

 13
5. .      F1 r grmme wa ony p rl i lme td.Two mao fco s c us d te
            e
          'I p o a     s l aty mpe ne           j r q tr a e h
 lppag n mpl nt ton z: i h l t tup    t e hat d en     ce o
si e i i eme ai vi () t e sow sar- ofsudis t ha be expe t d t
e ut n l oe t o e ia c d' n i h o -v i ii f
        l                        )           a t         e o re o
rs l i te prjcs t b fn n e ,a d (i te n n a alb ly o ADF r s u c s f r
  endi   c us       a n e chi gr emen ont ADF- Ir e s e .I ad ton,
bl ng be a eofdely i r a ng a e         t he       VI eplnihm nt n dii
 he      1 oa      c d i n l en ogr mmtd f tn i i 1
t ESAP 1 I n,whih ha orgi aly be pr a               i               s a
                                                 or ' ancng n 995,wa delyed
   h c e he s s men s der                   d        e       ee
bot be aus t dibur e t un ESAP I ha notyet b en complt d,an be aus d c e
 gr m    s tl o       ec        t he M        ew        ogr
a ee ent i s il t be r a hed w ih t I F on a n ESA F pr am m e.

          Bank G r      râ egy   ndi   oer
                  oup St t and Le na Pr amm e

 2.
5. 1      Zi
           mbabwe' County Stae Pa (
                 s                       s ppr d
                       r r tgy per CSP)wa a ove on 27 Nov    r 996.
                                                         embe 1
         k oup s r t
The Ban G r               m      u     tng he    e n nt s c om c   i y nd
                t a egy ai s at s ppor i t G ov r m e ' e on i polc a
 t uc ur e or ,     ns on   he nf a t uc ur   s nd nve t    n grc t e t
sr t alr f m s expa i of t i r s r t alba e,a i s m enti a i ulur w ih
       i    ur     ry l a il        en ng tae or he i        s do     i y
emphasson r alpove t alevitln.The I di sr tgy f t perod ha ha t be fnel
   a ed o ak nt c t omp ig or es              he e an h mpr n
balnc t t e i o ac oun c etn f c .On t on h d, te i ovig busnes       i s
 lmae, he ound crdiu t n s (ft c ty,a te sgniiantt esmentne
ci t t s        e tworhie s ) he ounr nd h i fc nv t       eds
  nt o he ppr i t es      ie e        w ndow l di pr a m e.O n t ot er
poi t t a opra en s of a s z abl AD B- i     en ng ogr m       he h
 a d, h n r ae e s r br ' a ca r d n e u ig h c o c e o m e id,
                         i
h n te ic e sd prsu e t ln n ilp u e c d rn te e on mi r f r j ro
s     t he      nm ' m s s        he    ls ton )    ce son e our es or
 uppors t G over ents e pha i on t m obii a i (f con s i al r s c f
 i    ng t    opm     ogr
fnanci is devel ent pr am m es.

  2.
5. 2               t gor
          A s a C ae y B c    ounty, Zi b
                                  r    m abwe' a c s t A D F r our es i s ver y
                                               s c es o        es c j e el
 i t               V I t n n ca i e l a i               4.     li     s ndi tve
lm ied under A D F- I , w ih a i di tv aloc ton of U A 1 79 m ilon.Thi i ca i
 loc ton s s d          h s es m t         ats a t y
a l a i i ba e on t e a s s en of a s i f c or perbr an           n he vent t t
                                                       t m ce. I t e        ha
 mb b mp o e t d u t n e f ma c , t o l u lf o n n a c d l ai n
               s                                           o
Zi a wei r v si a j sme tp rbr n e ic udq aiyf ra e h n e alc to ,
   ilng t o       1     li            e our e
entt i i t U A 22. 9 m ilon of A D F r s c s.

6.       D E VE L O PM EN T     PA R T N ER S    AND    H O ST   C O UNTRY
              NATI
         COORDI  QN
6.1             i r es i lt br oor naton            vel   nt ssa e ess t
          The prm a y r ponsbiiy t c di i ofde opme as itnc r t wih
he ni ty        na e. pa t         t a nt v oweve , i pa e on t M i s r s
t M i s r of Fi nc C a ciy cons r i s ha e. h        r m ct d    he ni ty'
 biiy o r or hi ol de el                     s her f e. pon or d
a lt t pe f m t s r e a quat y. UN D P ha , t e or s s e a n be of  um r
 oor na i     etngs n he unty         he r o s us pe a r s nt es nd
c di ton me i i t co r overt yea s t dic s s cila ea Ofi er ta
 ola a i m        th      el     t ar n s
c l bor ton a ongs t e dev opm en p t er .Thes i cl
                                              e n ude:dr       d   r     nt
                                                        oughtan envionm e al
  e ig ; on UNDp/ e n n c n utto swihbltr l n mutltr l r a s t n
me tn s j it                           a          a           o
                Gov r me t o s lain t i e a a d li ea o g niai s
    he mplment i oft povery a l a i a i pln;a mont y i onna i s rng
ont i e      aton he      t leviton cton a nd      hl nf    ton ha i
   etngs t en     er   t nd t     el       t r.     o h bs e
m e i be we Gov nm en a is dev opm ent parne s D ue t t e a enc of a n
 du t n r grmme s p o td b teBrto W o dsI si to s n Co s laieGr u
a j sme tp o a                              u
                 u p re y h etn o n tt in , o n uttv o p
     i             d      he     wo' s.
m eetng has been hel over t pastt year

 2
6.          mba
         Zi bwe r c v a ssan e fom a l g numberofde opme pa t r The
                    e eies s it c r      ar e'
                                                        vel  nt rne s.
                                  .
  ogr             opm       sance t s e of t
pr am m es of devel ent assit      or om            ng he i 997- ar as
                                             hem duri t perod 1  99 e
olows:() t Word Bank enviag commitn te e v e ofUS$9 00 milon
fl     i he   l         s es    tig h quialnt      0.    li
   ua l    i hi r od. t r as oc ncl de: om eton             h e i n gen
ann ly dur ng t s pe i ls a e of f us i u c pl i oft e r m a ni g a da
   ef      m
ofr orm s ai ed atreduci ficaldefi tand accel atng r or oft pr vat sect r al
                        ng s      ci        er i ef m      he i e      or: ur
   el    nt         at al e our e      ge
dev opme and n ur r s c mana ment prvae s cor de opll l; an
                                              .
                                              ' i t et        vel lcl   t    d
                                  -
                                       9
                                      1 -

   el    nt        pia ; i)    s a ng uppor i t eeke ar asvi povery
dev opm e ofhumanca tl (i UNDP i plnni s  t n hr y e z:           t
 educ i pact     el
r ton;ca iy dev opmenta ssan e i or ertlen e Gove l
                        s it c n d t abl         ra    o t       na
                                                   mentt beterma ge
 ld oc  t      l
al f us is deveopme prleses a t i ov ec
                    nt tc s                         c   na
                               nd o mpr e onom i m a geme and nt
 r nsor i   nd nvion nt  na   nt nd eg er ton. al es ce ia e
ta f maton;a e r m e alma geme a r en a i Tot r our saval bl
or mba     ig hi i r tmatd t         5 li ii he o an 7l/?
f Zi bwedurn t sperod aeesi e a U5$23. milon(i)t Eurpe t?f t
   l oc        i t e nd en bl es c ; alh; duca i and ta an t ur s .
w ilf us on:agrculur a r ewa e r our es he t e          ton;   r de d o i m
     ot es ce       s ge    i g 997 2000 a e e tm at d a ECU 11 00 m ilon.
The t alr our s envi a d dur n 1 -        r si e t             0.     li

 3
6.         e ie n o         td ae f lzc , na a a n, rzl y
         Th Un td Kigd m, Unie Stts o Aveic Ca d ,J pa Gezla ,
De    k, he t rands     he   di ountis a e a ie i Zi bwe. The e
  nmar t Ne he l , and t Nor c c    re r ctv n mba           s
    l    nt t s e uppore t e i eme a i of t r or pr a
deveopm e parner hay s td h mpl ntton       he ef m ogr mme and
 o e t le a i Th
            o      td tts nc o ntr a na De eo n ' u p r wil
p v ry alvit n. eUnie S ae Age yf rI en do l v lpme tss p o t l
     r td t nc ea e      eh d ood e urt n ee e ommunala e ; br dene
be diece a : i r s d hous ol f S c iy i s lctd c           r as oa     d
     r hi     oduc i s e s n a l an n ncl ng V/ DS ev i
owne s p of pr tve a s t ; a d f m iy pl nig i udi HI AI pr enton
   as es.    r hr e ar el        nt     er ton di g n 999, Swe n w il be
m e ur U nde a t e ye dev opm e coop a i en n i 1              de  l
 i ci     el    t oe s n alh,r s or d tae c an ng. ot e oures
fnan ngdek opmen prj ct i he t tan p tan srtgi pl hi Thet alrs c
 r     den l mount t US$50. m ilon. M os of t es dev opmentparner ar
fom Swe wila       o      00 li         t h e el              t s e
  ovi ng i    a      ghl
pr di ad on gr ntorhi y con es onalt ms.The r e ofo he de opme pa t s
                           c si    ér        ol    t r vel    nt rner
 u s ance and s e alA san c lzl8é i exp di g.
s ch a Fr       ev r             l
                        i tf// ' s an n

         LOAN REPAYM ENTS AYD ARREARS
            n      m bwe' a e s on t m e b s p Of t Ba
           Si ce Zi ba   s cc s i o     m er hi            he oun r as
                                                  he nk, t c t y h
   i ai ed       ele ec d     e ym    nd s o s an ng r ea s.
m a nt n an exc l nt r or of r pa enta ha n out t di a r r

8.       CONCLUjIONS AND RECOMM ENDATION
             l i
         Concusons

           om h bove r e of t e p tblo,t e ov al peror ce of t e Ba
         Fr t e a    eviw    h ort i h er l f man             h    nk
   oup' tolo n mba         s aifct y.      ver a     ve ontnue o
Gr s jorf i i Zi bwe i stsa or Howe ,delys ha c i d t be
 x e in e n tr- n mplme tto          o f h p ia c d rj cs n h
e p re c d i sa tup a d i e nain ofs me o te Ba k fn n e p o e t i te
  unty. n ddii
co r I a ton,dibure         e s or       r pecs r ow       he e or
                   s s mentIvel f anumbe ofprj t ael andt rc d of
 epori d       t ig      oe mpl    ai riul l n he e
r tngan moniorn ofprjcti ementtonpatc ary i t contxtofs si   ubmison
 f udt e rs s n aifco y. n o n tn e , n o p ue n r c d r s o
o a i rpo t i u stsa t r I s meika c s Ba kGr u r lsa d p o e u e f r
 r c rme t r l ue y e u ig e ce a sn ea n mpe nai        o      rj cs
p o u e n a elo td b Ex c tn Ag n isc u igd ly i i lme tt nofp o e t.
 n ddii     di aton t en he ni ty    na ce nd i  ni ti nd
l a ton,coor n i be we t M i s r of Fi n a lne M i s res a EA s of
   k oup i c o e t s en rmel k.             ge    nd oor naton
Ban Gr fnan edprj csha be exte ywea Poormapa menta c di i
    oec ctvii s e uled n mplmeftton a .
ofprj ta i tesha rs t i i e iai delys
            as e o m ove    t olo   f m
         M e ur s t I pr Por f i Per or ance

 2.
8. 1            t ps ve ee a     nd he s e n h oc s        ng derake n
         Som e s e ha b n t ken a ot r ar i t e pr e s ofbei un t n i
 r e o e ole h b v r be oh ) oe t y rjc b ss n t h co e e .
                               n
o d rt rs v tea o ep o lmsb t ( aprjc b p oe t a i a da tema r lv l '
   aurs ih r l e ne i 9 6 n ld h ol n i u e vso f oe t
                 np        n              o
Me s e whc we ei lme td' 1 9 icu etef lwig:()s p r iino prjcs
       e e ar t h     e i )7' oe s n he r por ecor. nc a r 996,
wasmor rgul wih teexc ptol(1prjct i t tans ts t Si eJ nuay 1
 i u e viin a e e n n e tk n A u e vso sin o h rn p r s co rj cs
sxs p r so h v b e u d ra e . s p r iinmiso f rteta s o t e t rp o e t
                                    -
                                        20 -

s che e n he hid     t    9 , i) h ev      al e t h        er
i s duld i t t r quarerof1 97.(i te I elofdi ogu wih te Gov nmentof
 m bwe on t r quie f l up a i f i pr mentoft e Bank Gr porf i
Zi ba     he e r d olow- ctons or m ove     h         oup tolo
 e f r n e a lo e n n a c d' i
                             (i      t a W r s o o ri rjc sa f n n
                                      o
p ro ma c h sas b e e h n e , i)aNa in l o k h pt tanp oe t tf o Ba k
  oup es nd oc e s el              i       t r
Gr Rul a Pr edurs wa h d durng 21 Ocobe - 1 Nov         ember 1     i he
                                                               996;(v) t
e s n e r t r m o ltd rj cs r y tmai l n o p r td n h e in f e
                                          c y
lso sla n fo c mpee p o e t we es se t al ic r o ae i ted sg o n w
 rj cs n v n ttn n oa aa c s r a c l p o ty.   e
p oe t;a d ( )a y ousa dig I n b ln e a ec n e ld' r mp l
 2.
8. 2       c o v r tl e is o e o e o mp o e h u lt f rjc
                                                     y
         Mu h.h we e ,silrman t b d n t i r v te q ai o poet
   na m nt n he     r n n he nk.         s a ihm      is      f c n he
m a ge e i t county a d i t Ba The e t bls ent of a lalon of i e i t
     r s       he tps ha s   s ge      de s ha    mba a tona
county i 0ne oft se t ti envia d. The i a i t ta Zi bwe n na i lwoul  d
       o d      he nk n       k    er he uper son    he
be empl ye by t Ba a d wor und t s vii of t UNDP Resdent           i
  pr e a ie.      fc      d   es i e 0r he egul      t i        epori
Re es nt tv The ofier woul be r ponsbl f t r arm oniorng and r tng
 f ci i eaig o l ia c d rjcs nta o tcs a e e n sa i e t
     viè           k                                        s
o a t t sr ltn t Baz fn n e p oe t.l iilc na t h v b e e tbl h d wih
         hi te
UNDP on t s ma tr.

  2.
8. 3       n i      t ur ent
          I Ine w ih c r Bank Gr          a ie, he nk houl t i ty nf c t
                                     oup pr ctc t Ba s d s rc l e or e is
 uls nd e a i ncudi           i ous pplc ton ) he evied o
r e a r gul tonsi l ng a rgor a ia i (ft r s Ian ca ela i polcy nc lton i
o e             pe f m n o       nd a s; nd e tn e r m nt r i a l he
t w e d out non- r or i g I ans a gr nt a r por i g r qui e e s pa tcul r y t
 ubm s i       di e t . t h d          e ha      ec i     enc ubm te
s i s on ofau tr por s l s oul be not d t tno Ex utng A g y s it d an a t  udi
 e t       nk oup i nc d       r tons i 996.To t c e t pr e ofc plan
r por on Ba Gr f na e ope a i durng 1              a kl he obl m     om i ce
   t         e d oce e oan dm nita i e na s l                 i
wih ADB Ruls an Pr dur s,l a i sr ton s m i r wilcontnue t be hed io      l n
 mba    nd h u r on or qjct fci s nd ef c i s.
Zi bwe a te s b-egi f pr e ofi al a Chi Exe utve
  2.
8. 4      n der t addr s capaciy constai s, Governm ent has em barked on
         I or     o    es      t     r nt
 ec tals ton    i ci      ge t nd c ount lt hr         he ndi
d en r ia i of fnan almana men a a c abiiy t ough t ha ng ove of     r
e ponsbiiy o nt        t t M nitis, ovi e nd srct) s onc pt s
r s i lt t poi sofcomm imen ( i sre pr nc s a diti s .Thi c e i
niily ei esed n h alh e or n ddii               d lt as e lo s itng
i ta l b ng t t i t e he t s ct .I a ton-UNDP an biaer l ar a s a ss i
    r    to    el h apa te o mpr e h d oor nai c i te              nta
Gove nmen t dev op t e c ciis t i ov t e ai c di ton a tviis of Ce r l
  v r me t n t v lj n a tes
              s
Go e n n a d i de eo me tp rn r.
  2.
8. 5        n he r       s s      t he nk houl on i
          I t a ea Of di bur em en s. t Ba s d c tnue en        a ng he
                                                            cour gi t
     r nt o ii e h      r t s s           d ev vi und m et ods be i t
G ove nm e t utls t e diec di bur ement an r ol ng f      h      s des he
 ei    s     t hod   ch s how bov s en ty e ponsbl f t l l el
r m bur em en m et whi a s n a e ha be parl r s       i e or he ow ev
   s uremen          ' oe s. n ddii he nk l     i e gig he
ofdib s ton a numbero1prjct I a ton,t Ba wilcontnu ur n t
     nm  o m ove he   iy   s s             i i
gover entt i pr t qualt ofdibur em ent applcatons.

                      on
         Recom m endati

                 d! e r     nvie o dor e he ec        tons hi      tolo
         The Boar ar he eby i t d t en s t r om m enda i of t s por f i
 evi
r ew .
                                                                                                                                                                                    .       4
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