Desarrollo energético en América Latina y la economía mundial

E/rain Friedmann I WORLD BANK LENDING FOR HYDROCARBONS: A••• equipment and services obtained from abroad. In addition to financial assistance, the Bank also furnishes technical assistance.· World Bank loans generally have a grace period of five years and are repayable over 20 years or less. The interest rate depends mainly on the cost of borrowing to the Bank. At present the interest rate being charged on Bank loans is in the neighborhood of 8%. The \Vorld Bank has two affiliates, the InternationaI Development Asso– ciation (IDA) and the International Finance Corporation (IFC). IDA was established in 1960 to provide assistance for thf' <;;ame purposes as the Bank. However, IDA'S assistance is concentrated on the poorer developing countries-mainly those with an annual per capita gross national product of less than 520 dolIars. The funds used by IDA, called credits to distinguish them from Bank loans, come mostly in the form of subscriptions :and supplementary contributions by the wealthiest members of the Bank and from transfers from the net earnings of the Bank. IDA credits, which are made to Governments only, are 10 'year grace periods, 50 year maturities and no interest, but an annual service charge of 0,75% on the disbursed portion of each credit. 1 should note that the benefits of the soft terms of IDA credits generally :are absorbed by the country and are not to subsidize the project being financed. Normally, an IDA credit would be on-lent by the Government to the project entity on the same terms as a World Bank loan. Although IegaIly and financially distinct from the Bank, IDA is administered by the same staff. IFe, the other affiliate, was established in 1956. While the Biank itself abo lends to the private sector, IFC'S main funetion is to promote the growth of the prívate sector withín the economies of developing countries and to help mobilize domestie and foreing capital for this purpose. IFe provides loans and equity investments to private entero prises and mixed enterprises. U nlike the Bank and IDA, IFC neither seeks nor accepts Government guarantees. There Iare cases where hoth the Bank and IFe support the same project. This generaIly involves situations where projects require a larger investment than is prudent for IFe to make given its capital strueture. Stíll other situations call for joint participation, where for example an equity role is indieated in conjunetion with B:ank lending. Since inception the Bank has committed about 50 billion us doIlars to some 1,650 projeets. IDA has committed over 15 billion us dollars to about 820 projeet, and IFC, about 2.5 billion us dollars to over 850 enterprises. Every project mUSí be considered and approved by 159