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World Bank Document Document of The World Bank Public Disclosure Authorized FOR OFFICIAL USE ONLY Report No: 27920-RO PROJECT APPRAISAL DOCUMENT ON A Public Disclosure Authorized PROPOSED LOAN IN THE AMOUNT OF US$225.0 MILLION TO THE REPUBLIC OF ROMANIA FOR A TRANSPORT RESTRUCTURING PROJECT Public Disclosure Authorized October 22,2004 Infrastructure and Energy Department Europe and Central Asia Region This document has a restricted distribution and may be used by recipients only in the Public Disclosure Authorized performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EQUIVALENTS (Exchange Rate Effective October 18, 2004) Currency Unit = Romanian Lei (ROL) US$l.OO = ROL33,104 FISCAL YEAR January 1 - December31 ABBREVIATIONS AND ACRONYMS APL Adaptable Program Loan Marfa Romania National Railway Freight Operations Company Calatori Romania National Railway MTCT Ministry ofTransport, Construction Passenger Operations Company and Tourism CAS Country Assistance Strategy MPF Ministry of Public Finance CDF Comprehensive Development RNCMNR Romania National Company for Framework Motorways and National Roads CESTRIN Romania Central Laboratory for PAD Project Appraisal Document Transport and Road Infrastructure CFAA Country Financial Accountability PAL Programmatic Adjustment Lending Assessment CFR Romania National Railway PHARE Fund for Assistance to Central and Company Eastern European Counties EBRD European Bank for Reconstruction PPLBL Public Private Institution Building and Development Loan EL4 Environmental Impact Assessment PPP Public -Private Partner ship EIB European Investment Bank PSC Public Service Contract EMP Environmental Management Plan SAPARD Special Accession Program for Agriculture and Rural Development EU European Union SIL Specific Investment Loan GRSP Global Road Safety Partnership SNCFR National Railway Company of Romania (former) ICR Implementation Completion Report SOEs State Owned Enterprises IRIS Integrated Railway Information SWAP Sector Wide Approach System ISPA Instrument for Structural Policies for pre-Accession Vice President: Shigeo Katsu, ECAVP Country Director / Manager: handK. Seth / Owaise Saadat, ECCUS Sector Director / Manager: Hossein Razavi / Motoo Konishi, ECSIE Task Team Leader: Henrv G. R. Kerali. ECSIE FOR OFFICIAL USE ONLY ROMANIA TRANSPORT RESTRUCTURING PROJECT CONTENTS Page A . STRATEGIC CONTEXT AND RATIONALE ................................................................ 1 1. Country and Sector Issues ................................................................................................ 1 2 . Rationale for Bank Involvement...................................................................................... 4 3 . Higher'Level Objectives to Which the Project Contributes ............................................. 4 B. PROJECT DESCRIPTION................................................................................................ 5 1. Lending Instrument.......................................................................................................... 5 2 . Project Development Objective and Key Indicators........................................................ 6 3 . Project Components ......................................................................................................... 7 4 . Lessons Learned and Reflected in the Project Design..................................................... 9 5 . Altematives Considered and Reasons for Rejection...................................................... 11 C . IMPLEMENTATION ....................................................................................................... 12 1. Partnership Arrangements .............................................................................................. 12 . 2 . Institutional and Implementation Arrangements ........................................................... 13 3 . Monitoring and Evaluation ofOutcomesResults .......................................................... 14 4 . Sustainability .................................................................................................................. 15 5 . Critical Risks and Possible Controversial Aspects ........................................................ 16 6 . Loadcredit Conditions and Covenants ......................................................................... 16 D. APPRAISAL SUMMARY ................................................................................................ 18 1. Economic and Financial Analyses ................................................................................. 18 2 . Technical ........................................................................................................................ 20 3 . Fiduciary ........................................................................................................................ 20 4 . Social .............................................................................................................................. 21 5 . Environment................................................................................................................... 21 6 . Safeguard Policies.......................................................................................................... 22 J 7 . Policy Exceptions and Readiness ................................................................................... 23 Annex 1: Country and Sector or Program Background......................................................... 24 Annex 2: Major Related Projects Financed by the Bank and/or other Agencies ................. 29 This document has a restricted distribution and may be used by recipients only in the performance of their official duties . Its contents may not be otherwise disclosed without World Bank authorization. Annex 2: Major Related Projects Financed by the Bank and/or other Agencies .................30 Annex 3: Results Framework and Monitoring ........................................................................ 31 Annex 4: Detailed Project Description...................................................................................... 35 Annex 5: Project Costs ............................................................................................................... 44 Annex 6: Implementation Arrangements ................................................................................. 45 Annex 7: Financial Management and Disbursement Arrangements..................................... 47 Annex 8: Procurement................................................................................................................ 53 Annex 9: Economic and Financial Analysis ............................................................................. 60 Annex 10: Safeguard Policy Issues ............................................................................................ 72 Annex 11: Project Preparation and Supervision ..................................................................... 75 Annex 12: Documents in the Project File ................................................................................. 76 Annex 13: Statement of Loans and Credits .............................................................................. 77 Annex 14: Country at a Glance ................................................................................................. 79 MAP of Romania ROMANIA TRANSPORT RESTRUCTURING PROJECT PROJECT APPRAISAL DOCUMENT EUROPE AND CENTRAL ASIA ECSIE Date: October 22, 2004 Team Leader: Henry G. R. Kerali Country Director: handK. Seth Sectors: Roads and highways (66.5%); Country Manager: Owaise Saadat Railways (33%); Urban Transport (0.5%) Sector Director: Hossein Razavi Themes: Other public sector govemance (P); Sector Manager: Motoo Konishi Other urban development (P); Public expenditure, financial management and procurement (S); State enterprisehank restructuring and privatization (S); Other rural development (S) ~ Project ID: PO83620 Environmental screening category: A I Lending Instrument: Specific Investment Loan Safeguard screening category: S2 [XI Loan [ ] Credit [ ] Grant [ 3 Guarantee [ ] Other: 3r Loans/Credits/Others: Total Bank financing (USsm.): 225.0 Proposed terms: LIBOR based Variable Spread Loan (VSL) in US Dollars; 5/17 vears (Gracematuritv Deriods) I ~~ Total 152.90 152.90 FOR I 0.00 I 225.00 RECONSTRUCTION AND DEVELOPMENT Total: 152.90 225.00 377.90 Responsible Agencies: Romania National Company for Motonvays and National Roads (RNCMNR) 38 Bd. Dinicu Golescu, Floor 8, Sector 1, Bucharest 77113, ROMANIA Tel: (40-21) 223-26-06 Fax: (40-21) 312-09-84 andaandnet.ro National Railway Infrastructure Company (CFR) 38 Bd. Dinicu Golescu, Sector 1, Bucharest 77113, ROMANIA Tel: (40-21) 223-14-87 Fax: (40-21) 222-25-17 Volievschi@,central.cfr.ro / [email protected] S.C. METROREX S.A. 38 Dinicu Golescu Bvd., 010873 Bucharest, 1, Romania Tel: +4021 336 00 90 / 55 90 Fax: +4021 312 51 49 E-mail: Tiberiu Moldovan <[email protected]> I ICumulativeI 20.0 I 75.0 I 135.0 I 195.0 I 225 I 225 I Project implementation period: Start: May 15,2005 End: April 30,2009 Expected effectiveness date: May 15, 2005 Expected Loan closing date: July 3 1, 2009 Does the project depart fkom the CAS in content or other significant respects? [ ]Yes [XINO Re$ PAD A.3 Does the project require any exceptions fiom Bank policies? Re$ PAD D. 7 [ ]Yes [XINO Have these been approved by Bank management? ]Yes [ IN0 Is approval for any policy exception sought from the
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