_5_ PHN 1991 Sector Review These fuads are managed by the borrower which has FY91 projects supported PHN and socal developresponsibility for the solicitation, review, apprisal, ment activitdes In Africa; six projects were approved approval and supervision of subprojecs. In additon, in the Europe, Middle East and North Africa a number of other traditional projecs provide for (ENENA) region and five each in the Asia and the small sector funds to support such Innovative activity Latin America and Carlbbean (LAC) regions. In which serves as a complemen **t** o other components. terms of loan and credit amounts, 32 percent<sup>of total</sup> A list of all sector funds is provided In Annex 1, PHN sector lending was committed to Asia, 28 Ibble 4. In aiditlon, one project (rogo), represent. percent to Africa, 22 percent to LAC and 18 percent ing the flrst-ever PHN sectoral adjustmt operation, to EMENA (lbxt Figure 3). In FY90, sodal developwill provide balance of payments support In three ment projects were a feature of the lending programs tranches in fulfMllment of a number of sectoral inAfrlmaandLAConWlInFY9lallregions hadat reform measures. Ths year's portfolio also includes least one such project: four in LAC, three in Africa, one emergency recovery operation (Yemen) In two in EMENA, and one in Asia. response to urgent social sector needs generated by the Gulf crisis. The comparative advantages of the variety of sectoral and financing characteristics of Figure 3: Regional Distribution of PHN Lending, this years portfolio of projects are discussed in some FY91 detail in Chapter Hm detail in Chapter Hm AFRICA 12 Ikbie 2: leczoral Composition and Funding r43W% **Characteristics** of PHN Portfolio, FY91 ASIA 6 <!-- Start of picture text --> AFRICA 12<br>ASIA 6<br>18% LAG<br>18%<br>2 1% 8<br>Number of t'rojbcts<br>ASIA 607.6 _ _ AFRICA 432.828%<br>32%<br>22%<br>EEA<br>E Amounts------<br>Lending Amounts<br>(In US$ Millons)<br><!-- End of picture text --> <!-- Start of picture text --> _ _ .. _____ __ _EMENA ......<br>?rSdleloauL sector naa ot,.r<br>._N,L-qa,r, !} .;- -- _. "'' ._<br>aoly Xad4q9ccr-SIL NIgeria P.-ZtL<br>(i) NSI*VL- SIN<br>RZntL<br>UmIabJt-t<br>Saaqlad.sh-StL<br>madla-SIL<br>IWlOMOLOI-SZL<br>Tun&*A& (R@apOI -tL9<br>Neaaco-SIL .<br>... _ CL __...... SeLas014-fSL _ _------<br>PX1 VtmSIMU-S.. L ;;<br>_ ~~~~. ...... ............ .............. ......<br>erstw SA Sctr uxaafi, S<br>S tOd Or tsri M_tOW Iinn Laon -<br>taL l= e uaLoan<br>. . . . . . .<br><!-- End of picture text --> Afmha n project laqe than S100 mflon, ~~~~wherma thtee of the five Asia projects were larger than trat, as were two of the **re ee** LAC projects, and one of the six in ENA. These large projects ac counted for 57 percent of PHN lemding volume. **ee** _aveage size of_ IBRD/IDA allocations for PHN operaSot in FY91 **r** $56 millon; for the four regions the averagd size p p s l1are5 thla on for Asia, S67.5 mionforAcut for for PHN mlning lme A,EpCe

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2.5 'Me Atifca Region developed the lugt regions the averagd size p p number of projects in FY91, though lending volume S67.5 mionforAcut for for was greatest in Asia. 'Nelve of the twenty-eight and $36.1 mfllon for Africa