We study a double inflation model (a preinflation + a new inflation) in sup
ergravity and discuss the formation of primordial black holes which may be
identified with massive compact halo objects (MACHOs) observed in the halo
of our galaxy. The preinflation drives an inflaton for the new inflation cl
ose to the origin through supergravity effects and the new inflation natura
lly occurs. If the total e-fold number of the new inflation is smaller than
similar to 60, both inflations produce cosmologically relevant density flu
ctuations. If the coherent inflaton oscillation after the preinflation cont
inues until the beginning of the new inflation, density fluctuations on sma
ll cosmological scales can be set suitably large to produce black holes MAC
HOs of masses similar to 1M(.) in a wide region of parameter space in the d
ouble inflation model. [S0556-2821(99)03402-5].