(I .. Document of The World Bank FOR OFFCIAL USE ONLY N Repe3 o 7 No. P-4922-YU MEMORANM AND RECOMMENDATION OF THIE PRESIDENT OF THE I TERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT TO THE EXECUTlIVE DIRECTORS ON TiWO PROPOSED LOANS IN A TOTAL AMOUNT EQUIVALENT TO US$60 MILLION THREE YIUGOSIAV WATER WORKS WITH THE GUARANTEE OF THE SOCIALIST FEDERAL REPUBLIC OF YUGOSLAVIA FOR AN ISTRIA AN!D SLOVENE COAST WATER SUPPLY AND SEWERAGE PROJECT '4AY 1, 1989 This document has a resticted distributon and may be used by recipedut orldy In the perfaomae of their officia dutie. ltb contents may not otherwise be discosed without World Bank authorization. CURRENiCY 42UTVALE3NTS Currency Unit Dinar (Din) Din 1*344 US$1.00 (December 31, 1987 appraisal estimate) Din 5,120 X US$1.00 (December 31, 1988 base cost estimate) Din 9,000 US$1.00 (April 31, 1989) WEIGHTS AND MEASURES km = Kilometer (0.621 miles) 1 - Liter (0.264 US gallons) 1/cd * Liters per capita per day 1/sec = Liters per second (15.8 gallons per minute) m3 = Cubic meter (264 US gallons) m3/sec = Cubic meters per second (22.8 million gallons per day) tn = Tourist overnight ABBREVIATIONS ANT) ACRONYMS UD BWW = Butoniga Water Works 1W = Istrian Water Works ICI = Infrastructure Community of Iaterest PWW = Pula Water Works RWW = Rizana Water Works SDK = Social Accounting Service SFRY = Socialist Federal Republic of Yugoslavia WCI = Water Community of Interest YUGOSLAVIAN GOVERNMENTf FISCAL YEAR January 1 - December 31 FOR OMCAL USE ONLY - - SOCIALIST FEDERAL REPUBIUC OF YUGOSLAVIA IS;RIA AND SLOVENE COAST WATER SUPPLY AND SEWERAGE PROJECT Loan and Project Summary BorrweKrs: Rizana Water Works (RWW), Istrian Water Works (IWW), and the Pula Water Works (PWW) Guarntar. Socialist Federal Republic of Yugoslavia SAmouns: RWW - $32 million equivalent; IWW and PWW - $28 million equivalent Fifteen years, including 5 years grace, at the standard variable interest rate Pi=4 Slovene Coast Co%ponent IBRD US$ 32.0 million Contributions and Taxes US$ 25.5 million Water Revenue Us$ 42.5 million Sewerage Revenue US$ 2.7 million TOTAL US$102.7 million Istria Component IBRD US$ 28.0 million Contributions and Taxes US$ 58.1 million Water Revenue US$ 34.9 million Sewerage Revenue US$ 20.2 million TOTAL US$141.2 million Economic Rkae of PAtuwi 152 (for the tourism-related benefits) Staff Avoralsa Report: No. 7479-YU IBRD No. 20580 This document has a estrcted distdbution and may be used by recipients. only in the performance of their ofMcil duties Its contents may not otherwise be discbosed without World Bank authorization. MEMORANDUM AND RECOMMENDATION OF THE PE TO THE EXECUTIVE DIRECTORS ON TWO PROPOSED WANS TO THREE YUGOSLAV WATER WORKS FOR AN ISTRMA AND SLOVENE COAST WATER SUPPLY AND SEWERAGE PROJECT 1. The following memorandum and recommendation on the proposed loans to the Rizana Water Works (RW), the Istrian Water Works (IWW) and the Pula Water Works (PWW), in the amount of US$60 million equivalent, is submitted for approval. The proposed loans would have 15 years maturity, including 5 years of grace, at the standard IBRD variable interest rate, and would help finance a water supply and sewerage project. 2. The project area includes the Slovene Coastal Region consisting of the communities of Koper, Izola and Piran and the west coast of the Istrian peninsula consisting of the Croatian communities of Buje, Porec, Rovinj, Buzet, Pazin and Pula. The permanent population numbers 242,000; however, during the summer months, the population doubles due to the arrival of temporary residents and tourists. Tourism provides about 25l of the gross domestic product in the project area and is an important foreign exchange earner. 3. Water supply in the project area is provided by three water works-the Rizana Water Works which serves the Slovene Coastal Region, the Pu2la Water Works which serves only the community of Pula, and the Istrian Water Works which serves the remaining five Croatian communities. Water shortages which occur regularly during the summer months have resulted in tourist complaints and early departures. Although there is no official estimate of lost revenue, all industry experts agree that water shortages are a major constraint to continued development and would cause a reduction in the area's tourism business if not corrected. Tariffs of the three entities, RW, rwW and PWW, are increased frequently during each year to compensate for the impact of inflation on operating costs. The entities are managed well and are financially sound. They have satisfactory accounting, billing, management information systems and organizational structures. * 4. Sewage disposal in the project area is a community respon&ibility. The main method of disposal for the coastal communities is by sea outfall to the Adriatic after preliminary treatment. This method is considered by experts to be environmentally sound. Only one of the three communities with inland urban centers has an adequate collection and disposal system. The other two discharge to the nearest water course without treatment. Sewage from Pazin, one of these centers, is polluting a ground water supply source for Pula and another community outside the project area. Most tourism areas -2- along the coast are free of pollution, but this could change if the construction of pollution control facilities in the tourism areas does not keep pace with increased water use and planned tourism development. Rationale for Bank bIolvement 5. The main thrust of the Bank's assistance strategy in Yugoslavia is to support the country's ongoing economic reform. Since the early 1980s, the Government has embarked on a long-term economic adjustment and reform program intended to give the economy a greater market-based orientation, with a view to the Europe of 1992 and beyond. By mid-1988, an IMF Standby Arrangement in support of this program was approved and rescheduling agreements were reached with the Paris Club and Yugoslavia's major commercial creditors. In the context of the preparation of a second SAL, the Bank participated actively with the Fund and the bilateral and commercial creditors in the discussion of the Government's stabilization and adjustment program. The proposed SAL IT is seen as the linchpin of the Bank's strategy for intensified assistance to Yugoslavia. Its approval and successful implementation would pave the way for subsequent policy-based operations and would justify an enlarged overall lending envelope to Yugoslavia which would also include several sector and investment loans in industry, transport and power and smaller investment projects in environmental improvement, water resource management and possibly other areas of infrastructure. The proposed Project fits in the category of smaller investment projects in the area of infrastructure and environmental improvement. This category of project consists of projects which essentially stand on their own merit and whose developmental impact is not critically dependent on overall policy reform. 6. The proposed Project would be the Bank's ninth operation in the sector. Four of the previous projects were multi-purpose, with irrigation, power, or flood control components, and thus had benefits outside the sector. One, in Dubrovnik, was similar to the proposed Project in that it supported tourism development. Most were designed to meet basic needs and improve health in the lesser developed republics. All of the completed projects had satisfactory ex-post rates of return on completion, and all are considered to have had positive development impacts. Most of the Bank's assistance in the sector has focused on the strengthening of institutions and the development of sound financial strategies. The Bank's involvement has often acted as a catalyst in securing the required local financing, which is otherwise difficult to obtain. 7. The Project would fill three important needs. First, it is essential to the tourism industry in an area where tourism is important for the region's development and a major foreign exchange earner. Second, pollution control works and studies included in the Project would ensure that sewage resulting from existing water use and increased water use made possible by the Project would be disposed of in an environmentally sound manner. Third, it would promote improvement in system operation and management through studies, action plans for the reduction of unaccounted-for water, and technical assistance. The Bank's presence is necessary since under Yugoslavia's present economic environment, it would be very difficult for the water works to secure foreign financing for the Project without the Bank. More importantly, the Bank would insure that the pollution control issue associa'ed with the Project is adequately addressed. -3- Pro*ect Objectives 8. The Project would in the service areas of the borrowers: (i) eliminate existing water shortages; (ii) provide additional water supply capacity needed for expansion of the tourism industry and growth in domestic and industrial/commercial demand; (iii) reduce unaccounted-for water; (iv) protect existing water sources and coastal tourist areas from pollution; and (v) increase efficiency in the delivery of water supply and sewerage services. PFroect escriMton 9. The Project would have an Istria component and a Slovene Coast component. The Slovene Coast component comprises: pumping equipment for existing wells; a water treatment plant expansion; an 18 km transmission system; distribution network rehabilitation; a sewage treatment plant and sea outfall; main collector sewers; the purchase of operating equipment; technical assistance for the reduction of unaccounted-for water and a tariff study. The Istria component comprises: a new water treatment plant; an 87 km transmission system; sewage treatment plants for Pasin and Buje town centers; sea outfalls and sewerage collectors; the acquisition of operating equipment; a study for combining IW and PWW; a master sewerage plan for central Istria; technical assistance for unaccounted-for water reduction and tariff studies. 10. The total cost of both project components is estimated at US$243.9 million equivalent with a foreign exchange component of US$86.6 million equivalent (362). A breakdown of costs and the financing plans are shown in Schedules Al and A2. Retroactive financing in the amount of US$2.0 million (3.31 of the loan amounts) would be provided for expenditures incurred on selected works awarded after June 1, 1988. The works in question can be put into service immediately and are an important part of the Borrowers' plan to manage water shortages before completion of the Project (para. 14). Therefore, they could not be delayed until after loan signing. Amounts and methods of procurement and of disbursements, and the disbursement schedules are shown in Schedule B. Special accounts will be opened for the Slovene Coast and Istria components of the project. Initial deposits will be $3.0 million for each of these two components. A timetable of key Project processing events and the status of Bank Group operations in Yugoslavia are given in Schedules C and D, respectively. A map is also attached. The Staff Appraisal keport, No. 7971-YU dated May 1, 1989 is being distributed separately. Ad-e Aetff 11. Agreements were reached that: (a) RWW, IWW and PWW would (i) enter into agreements with the implementing agencies for the execution of the sewerage works included in the Project (condition of loan effectiveness); (ii) carry out studies of the tariff structure not later than December 31, 1990, consult the Bank on the recommendations before March 31, 1991 and take measures for their implementation promptly thereafter; (iii) maintain annual operating ratios of not more than 801 beginning in 1989; and (iv) agree with the Bank before introducing increases in a given year's projected expenditures for investments other than the Bank Project that would result in average annual expenditures in excess of specified amounts. -4- (b) IWW and PWW would (i) through the Committee for Water Management of the Republic of Croatia, carry out a master plan sewerage study for Central Istria not later than December 31, 1990; and (ii) carry out a study of the management of water supplies in Istria, including a study of how best to manage the water supply system completed under the Project, not later than December 31, 1992, consult the Bank on the recommendations before March 31, 1993, and take measures to obtain the approval of the agreed recommendations by the appropriate authorities promptly thereafter; and (c) RWW and PWW would carry out action plans for the reduction of unaccounted-for water by December 31, 1994. Benefits 12. The main benefits of the Project will accrue to the inhabitants and tourism industry in the project area. Without the Project, foreign exchange earnings from tourism in the project area would stagnate and possibly decline. Approximately 70X of the tourists visiting the project arci are foreign and 50% of the water demand during the summ6ir is tourism re±ated. Net foreign exchange earnings from tourism in the project area in 1986 are estimated at US$0.5 billion. Until the beginning of the water shortage, the annual grovth in tourism as measured by tourist overnights was about 5 percent per annum. The permanent population would also benefit from improved environmental conditions and water service since it is also affected by pollution and water shortages. Implementation of the Central Istria Sewerage Master Plan recommendations will have a significant beneficial impact on the environment in this area of the project. RAsks 13. There are two potential risks. One is the risk of possible damage to the area's tourism development if the water shortages are not managed properly until the Project is completed. However, at the present time, the available water is being distributed equitably and efficiently and the Bank would try to minimize the risk by Monitoring operational procedures of the three water works as part of its supervision. The other is a risk that the overall investment climate in Yugoslavia could deteriorate further and become a constraint to tourism development in the project area. However, the demand for tourism services is likely to remain strong even in the presence of macro-economic uncertainty and turbulence. 14. Recomnmendation. I am satisfied that the proposed loans would comply with the Articles of Agreement of the Bank and recommend that the Executive Directors approve the proposed loans. Barber B. Conable President Attachments Washington, D.C. May 1, 1989 SOCIALIST FEDERAL REPUBLIC OF YUGOSLAVIA ISTRIA AND SLOVENE COAST WATER SUPPLY PRO3Ecy - SLOVEE COAST COMPONENT ESTINATE, COSTS AND FINANCING PLAN Estimated Costs a/ Local Foreign Total ------US$ million---- A. WATER SUPPLY AND TREATMENT 1. Source Works 5,3 2.S 7.8 2. Water Treatment Plant Expansion 10.2 7.1 17.3 3. Source Works Planning JJ Li 0 1 03 Sub-Total ILZ Z 25 4 B. TASMISSION ANO STOgE 1. Raw Wate*r Pipeline 6.8 3.6 10.4 2. Rizana-Koper Transmission 8.3 4.7 13.0 3. KoDer-Izola Transmission 13.1 7.2 20.3 4. Distribution Storage 3.6 1.6 5.1 5. SCADA System J0 _l2 1.9j Sub-total ,3 IL5 2 SDJ C. WATER DISTRIBUTIQN 1. Network Rehabilitation 1.4 1.1 2.5 2. Pump Station Controls 0.3 0.4 0.7 3. Waste Control Districts . 9LZ L.1 Sub-total lal J.LZ la D. ,INSTITUtIONAL STRENGTHEXNfIN 1. TA. Studies & Training - 0.2 0.2 2. o & N Equipment Li i 9LA Sub-Total 04 UZ LA E. SEWERAGE 1. Piran Sewerage Works 0.9 0.3 1.2 2. Izola Sewerage Works 0.7 0.2 0.9 3. Koper Sewerage Works L k LZ LI Sub-Total Li 1,Z LAg Total Base Cost IL. I LL5 Physical Contingencies 4.9 3.1 8.0 Price Contingencies 6.0 2 *a8 TOTAL PROJECT COSTS 65.2 37.5 102.7 : == A/ Figures include US$1.2 million equivalent of taxes. Financino Plan IBRO Loan - 32.0 32.0 Contributions and Taxes 20.0 5.5 k/ 25.5 Water Revenues 42.5 - 42.5 Sewerage Revenues -.L 2 t TOTAL FINANCING 65.2 37.0 102.7 E= == bl Foreign exchange component of reserved procurement. -6- Sghadule A2 SOCIALIST FEDERAL RCEUULIq OF XtJGOSL;AVI ISTRIA AND SLOVENE COAST WATER SUPPLY PROJECT - ISTRIA COMPONENT ESTIMATED COSTS KND FINANCING PLAN Estimated Costs A/ Lnu.l Fore0in Total -----US$ H1ll1on… A. WATER SUPPLY AND TREATMENT 1. Sanitary Protective Zone 0.4 - 0.4 2. Water Treatment Plant 12. ]LZ iLI Sub-Total Ila 10LZ Z.0f B. tRARSHISSION AND STORAGE 1. 8utoniga-Beram Transmission 6.2 4.3 10.S 2. Beram-Pazin-Rovinj-Pula Transmission 21.8 14.4 36.2 3. Distribution Storage 3.1 0.9 4.0 4. Telemetering & Controls L.2 -.L A .. Sub-Total 2U AZI 52 C. IaSn T IONAL SutENGTHiaING 1. TA, Studies & Training 0.3 0.1 0.4 2. 0 & N Equipment Ql L.1 L.2 Sub-Total LA J,2 QD6 D. SEIERAG 1. Pula Sewerage Works 11.9 2.8 14.7 2. Rovinj Sewerage Works 3.4 0.8 4.2 3. Porec Sewerage Works 1.3 0.3 1.6 4. Buje Sewerage Works 2.6 0.6 3.2 S. Buzet Sewerage Works 1.3 0.3 1.6 6. Paxin Sewerage Works ILA .Jm liSA Sub-Total Z3.1 Z AIn Total Base Cost 78.8 39.6 118.4 Physical Contingenties 7.0 3.9 10.9 Price Contingencies .3 1.7Z 8.0 TOTAL PROJECT COSTS 92.1 45.2 137.3 Interest During Construction on Bank Loan _ TOTAL FINANCING REQUIREO 92.1 49.1 141.2 A/ figures include US$1.9 Million equivalent of taxes. F1nanesnL Plan LffLcal ForLiSn Total -----US$ Million----- D1R9 Loan - 28.0 28.0 Contributions and Taxes 37.0 21.1 I/ 8.1 Water Revenues 34.9 - 34.9 Sewerage Revenues 2D - 20.2 TOTAL FINANCING 92.1 49.1 141.2 II foreign exchange compor.ent of reserved procuremnt. SOCALISt FEOERAL EM LC OIF YQGOSLAVIA ISTRIA AND SLONEAE COASt WAtER SUPPLY PROJECT - ISTRIA COMPONENT PROCUlREMET METHOD AND OXSURS,EMENTS Procurement l4gthokd Procuremet M4ethodl Prject ElenMt ICB LCR Other hi Reerved r- N/A Totl Goods 40.1 - 3.3 27.2 - 70.6 (28.8) - (2.5) (0.0) _ (31.3) Civil Works 73.6 19.8 A/ 59.0 - - 162.4 (16.4) (4.0) - (0.0) - (20.4) Consultants - - 8.7 6.8 - 155 - - (4.3) (0.0) - (4.3) Training - - 0.1 - - 0.1 - - (0.1) - - (0.1) Land Acquisition - - - - 1.4 1.4 - - _ _ f10.0) 0.01 TOTAL 113.7 19.8 12.1 93.0 1.4 240.0 (45.2) (4.0) (6.9) (0.0) (0.0) (56.1) -=3=3SS 2==32_==5= 3atl S#3 UU=gg ~~~~~~~=== - -= ===a ==; A/ Figures in parentheses are the estimated amounts for financing from the proposed Bank Loans. / International and local shopping. and World Bank Guidelines for selection of consultants. C/ Sewerage works and water works in progress awarded prior to appraisal. j Includes $7.0 million in advance contracting and up to $2.0 million in retroactive financing. Dlusbursemnts Slovene Catea0rx _QoasL Istria _ _ _ _ _ _ _ _ _ _ _ _ --- US$ Million--- Works except works awarded 11.0 8.0 1001 of foreign expenditures before June 1, 1988 and and 301 of local expenditures sewerage works Goods except goods already 16.0 12.0 100X of foreign expenditures. procured and goods for 1001 of local expenditures swerage works (ex-factory) and 85X of local expenditures for other items procured locally Consultants' services. 2.0 2.0 10O of foreign expenditures training and foreign and 50X of local expenditures travel except for sewerage works Interest and fees - 3.9 Amount due Unallocated 3.0 2.1 World Bank Fiscal Year 1990 1991 1992 1993 1994 199 --------------US$ million--------------- Slovene Coast Cenon,ent Annual 4.0 5.8 8.0 7.4 5.4 1.4 Cwwlative 4.0 9.8 17.8 2S.2 30.6 32.0 Istria Canonent Annual 3.8 5.0 7.0 6.4 4.4 1.4 Cumulative 3.8 8.8 15.8 22.2 26.6 28.0 -8- Sobedue C SOCIALIST FEDERAL REPUBIUC OF YUGOSLAVIA WSMR AND SLOVENE COAST WATER SUPPLY AN!D SEWERAGE PROJECT Tmetable of Key Project l_F Events (a) Time taken to prepare: Eighteen months (b) Prepared by: Rizana Water Works and Butoniga Water Works (c) First Bank mission: September 1987 (d) Appraisal Mission Departure: July 1988 (e) Negotiations: March 1989 (f) Planned date of effectiveness: September 1989 (g) List of relevant PCRs and PPARs: None -9- Schedule D Page I of 4 THE STATUS OF BANK GROUP OPERATIONS IN YUGOSLAVIA A. STATEMENT OF BA.' K LOANS /a (As of March 31, 1989) US$ Million Amount (Less Cancellations ) Loan Fiscal Undis- No. Year Borrower (s) Purpose Loan bursed Seventy-five loans fully disbursed 3,077.4 - 1561 1978 Elektroprivreda Bosnia Middle Neretva Hydro. 73.0 1.3 1561-1 1984 Elektroprivreda Bosnia Middle Neretva(Mostar) Supplemental Loan 61.0 4.9 1993 1981 Kosovska Banka Pristina Kosovo Agric. Devt. 60.0 5.6 2133 1982 Stopanska Banka Skopje Industrial Credit VI 33.0 0.9 2233 1983 Reg. Work Org. KOMPRED Tuala Reg. Water Supply 5.7 0.1 2306 1983 Kosovska Banka Pristina Kosovo Regional Devt. 59.0 29.1 2307 1983 Udruzena Beogradska Banka Serbia Regional Devt. 94.0 18.4 2336 1984 Four Railway Org. Railways VI 106.3 9.1 2338 1984 Eight Power Org. Power Transmission III 115.0 109.6 2339 1984 Kosovska Banka Pristina Industrial Credit VII 45.0 7.9 2340 1984 Investiciona Banka Titograd Industrial Credit VII 25.0 3.2 2467 1985 Investiciona Banka Titograd ?Montenegro Reg. Devt. 40.0 28.0 2527 1985 Elek. Boane I Hercegovine Visegrad Rydropower 125.0 9.5 2595 1985 INA-NAFTAPLIN First Petroleum Sector 55.0 28.5 2596 1985 NAFTAGAS First Petroleum Sector 35.0 24.7 2597 1985 Privredna Banka Sarajevo First Petroleum Sector 2.5 2.3 2715 1986 Four Road Org. Highway Sector I 121.5 62.2 2790 1987 Ljubljanska Banka Ind. E.'ergy Conserv.I 90.0 81.1 /I The status of the projects listed in Part A ts described in a separate report on all Bank/IDA-financed projects in execution, which is updated twice yearly and circulated to the Executive Directors on April 30 and October 31. Schedule D Page 2 of 4 U'S$ Million Amount (Less Cancellations Loan Fiscal. Undis- N4o. Year Borrower (s) Purpose Loan bursed 2878 1988 Four Road Org. Highway Sector 11k' 61.6 6t.6 2980 1988 Jugobanka, LBL, UfBB Export Industries £ 120.0 120.0 Total 4,405.0 Of which: Repaid 1,859.8 Total now held by the Bank 2,545.2 Amount Sold 9.2 of which repaid 9.2 Total undisbursed 608.0 /b Not yet effective. /. Not yet signed. 26 3X0 Schedule D Page 3 ot 4 YUGOSLAVIA B. STATEMIENT OF IFC INVESTMENTS (as of March 31. 1989) Fiscal Type of Loan Equity Total Year Obligor Business ----(US$ million)… 1970 International Investment Devt. Finance Corporation for Yugoslavia Finance 2.0 2.0 1970/78 Sava Semperit Tires 12.5 2.5 15.0 1973/80 Belisce-Bel Tvornica Papira, Pulp and Paper 70.9 - 70.9 Poluceluloze I Kartonaze- elisce 1977 Tvornica Kartona I Ambalaze Pulp and Paper 15.6 2.6 18.2 Cazin 1977 Frikom RO Industrija Food Processing 4.0 2.4 6.4 Amrznute Hrane 1980 Investiciona Banka Titograd Hotels 21.0 - 21.0 1980 Radoje Dakic Construction 18.7 - 18.7 Equipment 1980 Eight Regional Yugoslav Small-Scale 30.2 - 30.23 Enterprises 1982 Institut Dr. Simo Milosevic Physical 14.1 - 14.1 Igalo Medicine 1982 Industrija za Automobilski Motor Vehicles 10.6 - 10.6 Delovi I Traktori (Ruen) & Accessories 1983 Ljubljanska Banka Devt. Finance 31.4 31.4 1984 INA-Naftaplin Chemicals & 37.8 37.8 Petrochemicals 1985 SOZD Iskra Telecommuni- 24.1 _ 24.1 cations 1985 Sour Energoinvest Power Trans- 15.2 - 15.2 mission - 1,2 - Schedule D Page 4 of 4 Fiscal Type of Loan Equity Total Year Obligor Business -----(US$ million)---- 1985 Jugobanka Devt. Finance 35.8 - 35.8 1985 Ljubljanska Banka Development 69.8 - 69.8 1986 Unia-Tovarna Glinice in Non-Ferrometal 35.6 35.6 Aluminija Boris Kidricevo 1986 Tovarna Automobilov in Motor vehicles 29.7 - 29.7 M4ororjev 1987 Institut Dr. Simo Milosevic Physical 5.2 - 5.2 Igalo 1987 Vojvodjanska Banka Devt. Finance 54.5 54.5 1988 Sava Semperit Tires 15.0 15.0 1989 SOZD Iskra 9.8 9.8 Total Gross Commitments 675.8 10.5 686.3 less cancellations, terminations, exchange adjustment, repayment and sales 270.2 6.3 276.5 Total commitments held by IFC 405.6 4.2 409.8 Total undisbursed 58.9 0.8 59.7 (including participants portion) 26730 r -'1TALY J YUGOSLAVIA 1(4(2 Kopys, A / GISTRIA AND SLOVENE COAST WATER Rlzm '~~~~~~~~~ ~SUPPLY AND SEWERAGE PROJECT P,n._ WATER SUPPLY SYSTEMS OF THE _; . i@ Pobegl ^ - l RIZANA, ISTRIAN AND PULA St^ . Mask', Hil ,< WATER WORKS um,~~~ ~~~~~~~ -_ - >s400- _ -~~ ~~~ ~ ~~~~~~~~~ -s b 2 0 ,- O em 20M- QZ 2 bS }t 8u^S7190 Reservolr t , / - U WoW 0.014l4-4 P,,1~~~~~~~~~~~~~~~~~~ 0 w I ; .m/ / * ~~~~~~~w ,~~~~~~~~~~~~~~~~~~~~~~~~~~~~~1 s.ng - 'jgC( - Gm > \ \ \ xJ 2 2 f a. ,. 1 Mo. 'J,b. -PM / S . 0 : a X < a X .~~~OL S 2, -a ¢< 9 e ; ~~~~~~~~~~~~~~~~~~0 5 10 1 20 Y9 l) e of Mpo Loborika ~ ~ ~ ~ ~ ~~~~~~~~~Bigo. CR36 ~ YUOSAVo ITALY ~ ~ ~ md cRES~~~~~~ABAi