text: countries could increase furtherr and significantly, their efforts to augment the leveI of fi.nancial and technical assistance provided to developing countries. One channel, if these countries prefer it, as offered by bilateral assistance programmes. Several countries have established energy-specific assistance programmes which can target aid directly to promising projects. Petro-Canada, 44/ for example, has supported seismic surveys and exploratory drilling in Ghana, Senegal and the United Republic of Tanzania. Such assistance can also be channelled to smal.l-scale energy projects of national value. For example, Norway has provided export credits for the development of the 7,000-barrel-per-day Sene field in offshore Benin which meets the national oil needs of Benin. The Japan National Oi1 Corporation provides financing in the forn of equity subscriptions or loans to Japanese explorat.ion and developrneht cornpanies, or for joint ventures involving these companies. Loans for exploration are extended at an annual interest rate of 6.75 per cent and are to be repaid within 18 years. The grace period extends until the commercial production stage is reached, but it should not exceed eight years. Should a company fail to produce oil on a commercial basis, it nay be exempted from repaying the principal in total or in part, depending on its financial situation. The sane repayment term applies if the company suffers unexpected losses or incurs damage caused by a natural disaster or an outbreak of ltar. The scope of lending has now been extended to include foreign Government, national oil companies and similar public entitites engaged in oil exploration within their territories. At the developnent stage, financial assistanee is provided to the company by guaranteeing liabilities up to 60 per cent of the anountA/40/sLL EngI i sh Page 16 of the borrowed capital, in order to assist ehe company in raising funds from othersources. E/
analysis: The text discusses financial and technical assistance provided to developing countries to support their energy projects. It mentions specific examples of bilateral assistance programs, energy-specific assistance programs, and financial assistance for oil exploration and development. This suggests that the text is primarily focused on the energy sector and its relation to economic development.