საქართველოს მხრიდან 2013 წლის 13 დეკემბერს და გერმანიის რეკონსტრუქციის საკრედიტო ბანკის მხრიდან 2013 წლის 13 დეკემბერს ხელმოწერილი სასესხო ხელშეკრულება (ქუთაისის მყარი ნარჩენების ინტეგრირებული მართვა
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- დარგობრივი ეკონომიკისა და ეკონომიკური პოლიტიკის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- რეგიონული პოლიტიკისა და თვითმმართველობის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- ევროპასთან ინტეგრაციის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
📅 დამატებითი ინფორმაცია
ბიუროზე განხილვის თარიღი 2014-02-04
ბიუროს ნომერი 139
📜 ტექსტი
საქართველოს პარლამენტის ბიუროს გადაწყვეტილება ნორმატიული აქტის პროექტის განხილვის პროცედურის დაწყების შესახებ
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Loan Aorgement
orr.o
./l?.42 ?*o
Kfftl, Frankfuri am Main
(,,KflY)
and
Georgia
Represented by the Ministry of Flnance
("Borrowe /')
Fot
EUR 20,000,000.00
- lntegratsd Solid Waste Managoment Kutaisi (BMZ-No 2011 66 479)
1/
wl
r
Contents
Preamble
'1. Loan
2. Disbursemenl
3. Fees
4. lnterest
5. Repayment and prepaymeni
6. Calculations and payments in general
7. FederalguaBnlee
8. Negative ptedge and paripassu
L Costs and public charges
10. Speciatobtigations
11. Reasons for termination
12 Representation end stalemenls
13 General provisions
(.:
Annexes
Annex
1
Disbursement schedule
3preamble
The basrs for this Loan Agreement is the agreement dated 31 May 2012 between
the Government of the Federal R€pubtic of Germany and the Government of
Georgia on Financial Cooperation (FC) ("Govsrnmont Agrssment,,)_
The Borrower intends lo implement an environmentally and hygienically sound
solid waste managemenl system for the City of Kutaisi as well as the surrounding
regions lmereti and Racha-Lechkhumi and Kvemo Svaneti (inctuding, rn particutar,
a new sanitary landfill, equipment for transport and operation as well as closing of
the old landfill in Kutaisi) for the purpose of contributing to the protection of natural
resources, the avoidance of environmental pollution and the improvement ol public
health as well as to asslgn the respective consulting services to the Integrated
Solid Waste Managomont Kutaisi project (hereafter the'prolect")
The Project will be implemenled by the Solid Waste Management Company of
Georgia ("Proigct lmplomentalion Unif) under the oversight of the Ministry of
Regional Development and lnfrastruclure of Georgia ('MRDl"). The project wi be
carried out wilh financial assistiance from lhe Borrower.
MRDI, enkusted by lhe Bonower with the responsibility of imptementing the project, lhe Project lmplementation Unit and Ki/v shafl determine lhe detaits of the
Project, the goods and services to be financed lrom the Loan, the disbursement
and procurement procedure and any further detaits as specifided in this Agreement by a 'Separate Agreomenf.
Thrs Loan Agreement is an integral part of he following co-tinancing sources:
. A financial contribution amounting to up to EUR 2,000.000 O0 to be made
available by the Commission of the European Unlon through Kfl^/ by a separate financing agreement dated
(hereafter
lZ .f lt.l3
the "lmplementing Financing Agreemenf)
]?
. A local contribution by the Bono!rer. Mich includes, among others: payment of taxes, charges and cuslom dutbs, the provision of the land (hereaf,
ter 'Local Contibution') as specified more precisely in the Separate
Agreement.
Under the condition that the Federal Republic of Germany will provide inlerest rate
subsdies and under the condition that the Federal Republic of Germany will provide a guarantee for the loan KM, will e\€nd a Loan subject to the terms provi-
sions of this Loan Agreement. The terms and conditions of the Loan compty with
the OECD requirements applicable on the date of signing of this Loan Agreement
for recognition as Oflicial Development Assistance (ODA)
-41.
Loan
1.1
Amourl. KfW willextend to lhe Bonower a Loan nol exceeding a total of
EUR 20,000,000.00
(the "Loan").
Loan putpose. The Bonower shall use the Loan exclusively to flnance the
implementalion of the lntegrated Solid Waste Managemenl Kutaisi project
("Proiect'). The Bonofler shall channel the Loan in full to lhe Project lmplementation Unit. MRDI, entrusted by the Borrower with the responsibility
of implementing the Project. lhe Project lmplementation Unit and KfW wrll
detine the details ot the Project as well as lhe goods and services to be fi.
nanced from the Loan in the Separate Agreement.
Taxes, charges, customs dulies. Taxes and other public charges owed by
the Borrower or the Projecl lmplementalon Unit. as well as customs dutres
may not be financed from the Loan.
14
Channeling ol the Loar. The Bonower shall channel the Loan in full to the
Project lmplementation Unit under an onJending agreement at the terms
and conditions set forth in Aiides 4.1 and 5.1 hereof and at an interest
rate not exceeding the Fixed lnterest Rate in accordance with Article 41
hereof Article 1.5 shall be complied with prior to lirst disbursement The
channelling ot the Loan shall not constitute any liability of the Project lmplementation Unit to KfW for payment obligations under this Agreement.
15
Onlending agreomenf. The on-lending agreement specified rn Article 1.4
hereof shall contain a regulation on the flnancing of VAT payments to be
bome by the Georgian side. Prior to the first disbursemenl from the Loan,
the Borrower shall send Kfl , a certified translation of this on-lending
agreement This on-lending agreemenl is subject to prior approval of KllN
2.
Disburaement
21
Request for disbu.s,emeni As soon as all cond ions precedent to disbursemenl pursuanl to Article 2.i, are fuHilled, Kfll/ will disburse the Loan
in accordance with the progress of the Proiect upon request of the Proiect
Implementation Unit Disbursement will be effected in accordance with the
drsbursement schedule contrained in Annex 'l to this Loan Agreement. KfW
will make disbursements only up to the maximum amounts determined for
each hal[year. To the extent the BotTovrer requests disbursement of lower
amounts wilhin any half-year the undisbursed amounG may be requested
in any subsequent half-year period. With the exception of lhe last dis'
g
5
bursement, KMr is not obligated to effeci disbursements in an amount of
less lhan EUR 200,000 00
2
Deadline for rcquesting disbu|sement. KM,l may deny disbursements after
December 31, 2018.
2.3
Condilions Precedent to Disbwsemonl Kfi / is obligated to make dis'
bursements of any amounl under this Loan Agreement only upon fullill
ment of the lollowing conditions precedent in a form and content accept-
2
able to KM,/:
a) the Bonower will have demonstrated by presenting a legal opinion satisfactory to KfW and by presenting c€rtilied copies (each with a German
or English translation) ot alldocuments to which this legalopinion refers
that
aa) the borrower has fulfilled all requirements under its constitutional
law and other legal provisions for the valid assumption of all its obligations under lhis Loan Agreement, and
bb) KfW is exempted from alltaxes on income from interest, charges,
fees and similar costs in Georgia when granting the Loan;
b) the specimen signatures menlioned in Article 12'l (Representation of
the Borowe0 have been submitted;
c) the Guarantee lrom the F€deral Republic of Germany mentioned in Article 7 is in force and effect without any reslriction:
d) the Borower has paid the management fee mentioned in Arlrcle 3 2;
e) the Separate Agreement and the lmplementing Financing Agreement
have entered into force and etfect and their conditions precedents for
disbursement are fu lfilled:
0 no reason for termination has occuned or is threatening; and
g) no extraordinary circumstances have arisen that preclude or seriously
jeopardise the implernentation, the operation. or the purpose of lhe Prothe
.iect. or the perlormance ot the payment obligations assumed by
Borrower under lhis Loan Agreement
Prior lo disbursement from the Loan KfW has the right to demand such
further documents and evidence as it reasonably deems necessary'
w
2.4
Sepante Agreement ln a separate agreement the MRDI, enkusted by the
Borower with the responsibility of implementing the Project, the Project
lmplementation Unit and KM,l will specify the disbursement procedure including specific conditions precedent to disbursement, in particular the evidence to be tumished by the ProFst lmplementing Unit proving that the
requested Loan amounls are used for the purpose stipulated in this Loan
Agreement.
25
Waiver ol disbu,sement. Subjecl to lhe fulfllmenl of its obligations under
Article 10 the Bonower may waive the disbursement of undisbursed Loan
amounts with the consent of KM/ in exchange for the payment of the nonacceptance compensation pursuant lo Micle 2.6 subject to Article 4 2
Non-acceplance comporsalrbr. lf the Bonower waives disbursement of a
loan amounl, or if a Loan amount is not disbursed at all or is not disbursed
by the deadline stated in Article 2.2 for other reasons for which KfW cannot be held accountable, the Borrower will promptly pay to KfW upon its
request such amount as is necessary to compensate KfW for any losses,
expenses or costs incuned by KM/ as a result of the non-acceptance o[
the Loan amount in question. KM/ will calculate the amount of the nonacceptance compensation and communicate it to the Borower.
Fees
3'1
Commilmenl fee. The Bonower will pay a non-refundable commitment fee
ol 0,25 o/o p. a. on undisbursed Loan amounts. The commilment fee will be
computed tor the period beginning with the elapse of a three-month period
following the signing of this Loan Agreement and lasting until such date
lhe Loan has been disbursed in full, or tully cancelled, as the case may be
The commilment fee is due for payment semi-annually and in arrears on
30 June and 30 December of each year (each a "Payment Date"). lt is lirst
due for payment on 30 June 2014.
Management feo. The Borrower will pay KfW a non-refundable one-lime
lump-sum management fee of lyo of the principal amount of the Loan
stated in Article 1.1.
The managemenl fee becomes due at the earlier of (i) prior to the frrst disbursement under the Loan or (ii) after expiry of a three-monlh period atter
the signing of this Agreement by KM,/ or upon elapse of a one-month period after the entry into force and effect of this Agreement (whichever of
these due dates stated under (ii) occurs latest). Once this Agreement has
been signed, the management fee will lully accrue regardless of whether
the Loan will be disbursed in full, or at all
tl
)
-7 1.
lnterest
The Borrower shall pay to KM,l interest at a rate determined as follows.
41
lnterest (frxed inte{"st nle set upon cammilnenl of the Loan). The gor
rower shall pay interest on tho Loan al a rale ol
/1fu2"h p.a. C'Fixsd lnterest Rate") until the lasl repaymert instalment according to the Repayment Schedule as defined in Article 5.1 has been received by Kfw.
42
bursed Loan amount will be charged from the date (exclusively), on which
the respectivo Loan amount is paid out of the Loan account held with KfW
for the Borrower until the date (inclusively), on which the respective repayments are credited to K[,\ls account stated in Article 63 (Account
number, time ol crcditingr. lnterest will be calculated in accordance with
Article 61 (Ca,culatior). lnterest will be paid in anears on the Payment
Oates (as defined in Article 3.1).
5.
Repayment and prspaymsni
51
Repayment schedule. The Bonolwr will repay the Loan as followsi
i lr*r.rn{$vrr"t
urency
1
30 06.2019
1000.000,00 EUR
2
30.12 2019
1.000.000,00 EUR
3
30 06.2020
1.000 000,00 EUR
I
30.12 2020
1.000.000,00 EUR
5
30 06.2021
1000.000,00 EUR
6
30.12 2021
1 000
7
30 06 2022
't.000.000,00 EUR
8
30 12 2022
1000.000,00 EUR
9
30 06 2023
1.000.000.00 EUR
10
30122023
1000.000,00 EUR
11
30 06 2024
1 000
30.12 2024
1000.000,00 EUR
30 06.2025
,000.000,00 EUR
30 12 2025
1 000
14
000,00 EUR
000,00 EUR
000.00 EUR
t)
000,00 EUR
15
30.06.2026
1 000
16
30.12.202A
1.000 000,00 EUR
17
30.06.2027
1 000
'18
30 12 2027
1.000 000.00 EUR
19
30.06 2028
1.000.000,00 EUR
20
30.12.2024
1000.000.00 EUR
000,00 EUR
Undisbu6ed loan amounls. Undisbursed Loan amounls will be otlset
againsl the respective last repayment instalment due pursuant to the repayment schedule unless KM,/ at its own discretion chooses another offsening altemative in individual cases
53
Disbu6emenls afrer the sldtl ol repaymenl lf Loan amounts are disbursed
after repaymenl has started, the repayment schedule as listed in Article
5 1 will remain unaffecled as long as the respective repayment instalment
due rn ac@rdance with lhe repayment schedule is less lhan the Loan
amounts already disbursed. lf the repayment instalmeni due for payment
exceeds lhe outstanding loan amount, KM,l will deduct the amount equal
to the difference trom the repayment instalment due, divide it by the remainder of the repayment instalments still outstranding, and add this sum
lo each outrstanding repayment instalment. Kn / reseryes the right lo postpone taking disbursements into consideration that are made within 45
days prior to the respective Payment Date for the determination of the outstanding Loan amount until the second Payrnent Date following the disbursement
54
PrepaymenLfhe frcllowing will apply to early repayments:
a) Nght to make prcpaymenls. rhe Bonower may sub,ect to the subparagraphs (b) to (e) below effect an early repaymenl with respect to a
Loan amount provided that such eady repayment shall be at least in the
amount of one repayment instalment pursuanl to Article 5.'!.
b)Nofice A prepaymenl of a Loan amounl pursuant to Article 5 4 a) is
subject to notification of lhe prepayment by the Borrower to KMJ no later
than on the fifteenth Bankrng Day (as defined in Article 13.1) in Frankfurt am Main prior lo lhe intended prepayment date Such notice is irrevoc€ble; it must speofy the date on which lhe prepayment is lo be
made and the amount thereof and obligates the Borower to pay to KM
the stated amount on the stated date.
,a
-9cl P@paymenl compensation lf the Borrower prepays any Loan Amount
beanng interest at a Fixed lnterest Rate, ihe Borrower must immediately
pay to KM/ upon request such amounl as is necessary to compensate
for any losses. expenses or costs incufled by KflA, as a result ol the
prepayment KM,l will determine the amount of the prepayment compensation and communic€te it to the Borower.
d) Amounls dus. The Borrower will also pay the following amounts together with the prepayment pucuanl to Artcle 5 4 a) to c):
aa) any prepayment compensatfun due as a result of the prepayment
pursuant to Article 5.4 c)i and
bb) all interest accrued on the prepaid Loan amount up unlrlthe date of
the prepaymenl.
e) Otrsetting. Article 5.2 lundisbursed lodn dmounts) will apply mutatis
mutandis to the offsetting of prepayments.
55
Revised repaymonl schedu,s ln the event that Article 5.3 (DisDursements
aftet the staft of Dpaymer0 or Article 5.4 (Prcpayment\ applies, KfW will
send the Borower a revised repayment schedule that will become an inte-
gral pan of this Loan Agreement and will replace the repayment schedule
valid until such lime
6.
Calcul.tions and paymgnt! in goneral
61
Catculalion. lnleresl, the commilment fee, default interest pursuant to Arti'
cle 6.5, lump-sum compensation for overdue amounts pursuant to Arlicle
6 6, non-acceptance compensation pursuant lo Article 2.6 and prepaymenl
compensalion pursuant to Adicle 5.4 (c) will all be c€lculated on the basis
of a 360day year with 30day months.
Due date. lt a paymenl lo be made in conneclion with this Loan Agree'
ment falls due on a date that is not a Banking Day (as defined in Article
'131) the Borrower must make such payment on the following Banking
Day lf the following Banking Day tulls within the next calendar month, the
respective payment shall be effecled on the hsi Banking Day of lhe then
cunent calendar monlh.
bJ
Ac:count number, time ot qediting. The Bonower will be released from its
payment obligations in connection with this Loan Agreement if and as
soon as the respective amounts have been credited to KfW at its free disposal without any deductions in Euro and no later than '10:00 a.m. in
FranKurt am Main to KfWs account IBAN DE 80 50020400 3108 454698
(tas, d/g/ts sland fot the GP numberl SWIFT-BIC KFWDEFFXXX, wilh
/1
-10additional reference of the due date "Ref. YYYYMITDD). Should KfW notify a new accounl number lo the Borrower, the same shall apply to payments made to such new account accordingly.
64
Counterclaims of lhe BoraweL the Bonower is not entitled to assert any
rights of retention or set-off or comparable rights against payment oblrgations under this Loan Agreement unless such rights are recognised by final
judgment or are not being contested by Kl1 ,/.
6.5
Default inlercst. lf any repayment instalments or prepayments pursuant to
Nticle 5.4 (Ptepaynea0 are not at lhe disposal of Kfl when due, KM,/
may without prior reminder charge default interest at a rate of 300 basis
points p.a. above the Base Rate for the period beginning on lhe due date
and ending on lhe dale on which such payments are cred ed to lhe ac.
counl of Kfi / specified in Article 6.3. This rate must at least equal lhe
Fixed Interest Rate pursuant to Article 4.1. The "Base Rate" is the interest
rale announced by the German Central Bank (Deutsche Bundesbank) as
base rate prevailing on the respeclive due date Such default interest must
be paid immediately upon KMfs first demand.
66
Lump-sum com,€nsdlion For overdue amounts (with the exception of
such repayment instalments and prepayments as mentioned in Article 6 5
(Default inleresg KM/ may. without prior reminder, request lump-sum
compensation of a rate of 300 basis poinls p.a. above the Base Rate applicable on the respective due date for the period beginning on lhe due
date and ending on the dale of payment of such overdue amounts. The
lump-sum compensalion must be paid immediately upon KfWs firsl demand. The Borrower shall be free to prove that no damage was in fact incurred or that the damages were not incurred in the amount as stated
Offseftrg Kfl / has lhe right to offset payments received against payments due under this Loan Agreement or under other loan agreements
concluded between KflAl and the Bonower
68
Calculations made by KfW. Absent manifest error Kfl/V's determinations
and its calculation of amounts under this Loan Agreement and in connection with this Loan Agreement shall constitute prima-facie evidence.
7.
Guarantes from thG Federal Republic of G6rmany
KfW will have payment claims under this Loan Agreemenl guaranteed by
the Federal Republic of Germany prior to the first disbursement.
-118.
Nogaiivo plsdgo and parl psssu
81
Prohibition ol pledg€ or noftgage. The Borower may not itself and shall
ensure that the Prcject lmplementing Unit will not pledge, nor mortgage
nor alienate the Ploject assets before repaymenl in full of the Loan nor
conclude any other agreement or a[angement the elfect of which is the
creation of security or any righl confening a priority of paymenl in respect
of any obligation of any person wilhout the prior consent of KfW Project
assets shall be defined as a) assets purchased from funds of the Loan
Agreement or the Local Contribution, or b) assets exclusively made available by the Borrower for purposes of the Project (including land rights), or
c) assets that are or will become essential elements of lhe Project, indispensable for its proper implementation, or d) assets that result from the
implementation of the Projecr. notably intellectual property rights
82
Pai passu. To lhe extent permitted by law, the Borrower undertakes to
perlorm the obligations under this Loan Agreement pari passu with all its
other existing or future unsecured and not subordinated payment obligations.
9.
Costs and public charges
91
Pmhibtlion of deduclions or withholdings. The Borrower will make all payments under this Loan Agreemer: without any deductions for taxes, other
public charges or olher cosh. ln the event thal the Borrower is obligated
by law or tor other reasons to effect any such deduclions or withholdings
on payments lo KW. the payments made by lhe Borrower will increase by
such amounl as is necessary in order for KfW to receive tn full the
amounts due under this Agreemenl afte, such withholdrng or deduction.
Cosfs. The Bonower will bear all costs and expenses accruing in conneclion with the disbursement of the Loan, in particular remittance and transfer cosls (including conversion fees), as well as all cosls and expenses
accruing in connection with the maintenance or enforcement of this Loan
Agreement.
93
Taxes and other charyes. The Bonower will bear all taxes and other public
charges accruing outside lhe Federal Republic of Germany in connection
with the conclusion and execution of lhis Loan Agreement. lf KfW advances such taxes or charges, the Bonower will transfer them \uithout de.
lay upon request to KM/s account as specified in Article 6 3. Article 6 applies mutatis mutandis.
l1
((
-12-
94
/ncreasedcosls lf by reason ot
a) compliance with requesis or requirements issued
by any central bank or
other fiscat, monetary or other authority ater ttre Oate
Agreemenl, or
b) any change in law or its interpretation and adminislration,
of this Loan
or
c) lhe entry into effect, terminatic.r or amendment
of any applic€ble bitat_
eral or multilateral treaty or agreement, in particular
on do;bb
taxation,
KM/ incurs additional costs or losses or is unable to
obtain the agreed
having entered inti and
fund_ed lhis Loan Agreement ("lncreascd
Costs,), the; xnry
iorirv
the Boffower thereupon. Any such demand Oy KfW stral
"iari
Oe accompaiiea
by a notice from KnA/ siating the basis for its demand
ana setfing foitr in
reasonable detail lhe calculation of the amount
lhereof.
margan over its refinancing cosls as a result of its
10, Special obligsflong
10.1 Project imptementalion and speL:dl inlomation. The Bonower wrll itsetf
and will ensure that the proFcl lmplementation Unit
a) prepare, implement, operate and maintain the project
in conformity with
sound llnancial and technical prac{ces and substantially in
accorjance
with the project conception agre€d upon between
lhe MRDI, the project
lmplementation Unit and KfW:
b) ensure lhat the project lmplementation Unit
assigns lhe preparation and
supervision of construction of lhe project to ind;pendent, qualified
con_
sulling engineers or consultants, and the implementation
project
ot the
to qualified firms.
c) ensure that the project lmplemenlation Unit awards
the contracts for lhe
goods and services to be flnanced from
lhe Loan upon prior rnterna_
tional competitive bidding in line with Kfl rs gujdetines
for'pro.rr"r"nt
and assignment of consultants as specified in
the Separate Agreement,
d) ensure the full financing of the project
and fumish to KfW upon its re_
quest evidence proving that the costs
not paid from this Loan are covered;
e) keep books and records or have books and records
kept that unequtvocally show all costs of goods aad services required for
rte er'o1""i .ni
clearly identiry the goods and services financed from
lhis Loan:
tt
-13-
0 enable the representatives of KM/ at any time to inspect such books
and records and any and all other documentation relevant to the rmplementation and operation of lhe project, and to visit the project and all
the installations related thereto:
g) will furnish to Kf,A, any and all such information and records on the pro_
ject and its further progress as KfW may request;
h) make the Local Contribution in full and in due time: and
i) immediately and of its own acco.d.
aa) forward to KfW any queries received by the Bofiower from the
OECD or its members under the so-called "Agreement for Untied
ODA Credits Transparency" following the award of the contracts for
the supplies and services to be linanced ftom the Loan and willcoordinate the reply to any such queries with Kfw, and
bb) noliry KM/ of any and all circumstances that prectude or seriously
jeopardise the implementation, the operation or the purpose of the
Project.
10.2 Separale Agteement The MROI, entrusted by the Bonower with the responsibility of implementing the Project,the proisc-t tmptementing Unit and
Kfw shall determine the details of Article 10.1 by the Separate Agreement.
'10.3 ,4ssrstarce ol lhe Bofiower. The BorrouJer will assist the project lmplementation Unit in the implemenlation of the project in conformity with
sound engineeing and financial practices and in lhe performance of any
obligations imposed by the Separate Agreement direcfly onto the pro,ect
lmplementation Unil and, in particular, grant the project lmplementation
Unit any and all permissions nec€ssary for the implementation of lhe pro,ect.
10.4 Compliance. The Borrower wil itself and will ensure that the project lmplementation Unit will ensure that the persons whom it enkusts wilh the
preparatioo and implementation of the project, the award ol the contract
for the supplies and services to be financed, and with requesting dis_
bursements of lhe Loan amounts do nol demand, acc€pt, make, grant,
promise or accept the promise of unlawful payments or other advantages
rn connection with these tasks.
105 fhe Borrower will ensure that the project lmplementation Unit shall
promptly make available to KfW on demand all information and documenls
which K1W requires to fulfil its obligations to prevent money laundering and
terrorism financing as well as for the continuous mon(oring of the business
/>
- 11-
relalionship with the project lmplementiation Unit, which is nec€ssary for
this purpose.
ln entering into and implementing this Agreement lhe proiect lmplementa_
tion Unit acts in its own name and for its own accounl. With regard to
German law or the law of the country of incorporation of the proiect lm-
plementation Unit
a) the Project lmplernentation Unifs own resources or the amounts in_
vested in the linancing of Ihe proiecl will not be of iflicit origins and, in
particular. this list being non-exhauslive. will nol be linked to drug kaf_
ficking, conuption, organised criminal activity or terrorism;
b) the shareholder capihl of the project lmplementalion Unit will not at any
time be of illicit origins and, in particular, this list being non_exhaustive,
will not at any lime be retated to drug trafficking, corruption, organised
cdme or terrorism;
c) the Project lmplementation Unit will not be engaged in the acquisition,
possession or use of properly that is of illicit origins and, in parlicular,
lhis list being non€xhaustive. will nol at any time be relaled to drug traflicking, corruplion, organised cdme or terorism; and
d) lhe Project lmplementation Unir will nol be engaged in financing terorism
'10
6
Trenspotl ot goods. The provisions set forlh in the Government Agree_
ment, which are known to the Bonower, will apply to the transport of the
goods lo be financed fmm the Loan.
11. Tormlnation
11.'l Evenls ol Detault. KM/ may exercise the rights set forth under Articte 1.1.2
(Legal consequen@s of an Event ol Dehul} if an event occurs which
con_
stitutes a material reason (w,bhlrgEr Grund). ln parlicular, the following
events shall each constitute a matLrial reason:
a) the Borrower fails lo pertorm its obligations to KM,/ lo make payments
when due;
b) obligalions under this Loan Agreement. the lmplementing Financing
Agreement, the Separate Agreement or under any other separale
agreement pertinent to this Loan Agreement or the lmplementing Fi_
nancing Agreement have been breachedi
.15c) lhis Loan Agreement or the lmplementing Financing Agreemenl or any
parts thereof cease lo have a binding effect upon the Bonower or ceases to be enforceable against the Bonower;
d) the Separate Agreement or any parts thereof cease to have a binding
effect upon the parties to lhe Separate Agreement or to be enforceable
against the parlies to the Separate Agreement;
e) a reason for termination and/or event of default under the Loan Agreement or the lmplementing Financing Agreement occurs, which allows
Kfw to demand the total or partial repayment of its respective grants or
to revoke the Borower's right lo demand disbursement;
D the Bonower tails to provide or to ensure the Local Contnbutrcn to the
Project as set forth in Article '10.1. h) and the Separate Agreement;
g) any declaration, confirmation, information or representalion or warranty
considered by KnA, to be ess€ntial for the granting and maintaining of
the Loan proves to be false, misleading or incomplete;
h) other eltraordinary circumstances occur which delay or preclude the
pertormance of obligations under this Loan Agreemenl;
i) the Bo[ower is unable to prove that the loan amounts have been used
for the stipulated purpose;
j) The Bonower is, or is deemed for the purpose of any law, to be unable
to pay its exlernal debls as they fall due or insolvent, begins negotiations with any extemal creditor for a moratorium, a waiver of any of its
external indebtedness, a rescheduling of any of its externat indebtedness, or for a suspension of making paymenls on any of its exlernal
debts.
11
2
Legal consequences of an Event ol DelaulL lf one of the events referred to
in Article 12.1 has occurred and has not been eliminaled within a period of
five days (in the case of Aticte 11.1 a) or, in all other cases specilied in Article 1 L1, has not been resolved within a period determined by KflA, which
may not, however. be less lhan 30 days, KM, may terminate this Loan
Agreement or any parls of it with the consequenc€ that
a) its obligalions under lhis Loan Agreement terminate, and
b) KfW may demand full or partial repayment of the outstanding Loan
amounl together with the inrerest accrued and any and all other
amounts due under this Loan Agreement Articles 6 5 (Defau interest)
/a
.16 -
and 6 6 (Lump-sum compensatjon', apply lo accelerated amounts mutatis mutandis
1
I3
Compensalion for damages ln lhe evenl that this Loan Agreement is ter_
minated in full or in part the Bonower will pay non-acceptance compensa_
tion in accordance with Article 2.6 (l,,toa-acc€ptdnce compensation) andlot
prepayment compenszrtion in accordance with Article 5.4 c) (prepaynent
compensation)
12, Representation and statrmonts
12.1 Reprcsentation ol the Bonower. The Minister of Finance of Georgia and
such persons as designated by him or her to KM,/ and authorised by spec_
imen signatures authenlicated by him or her will represent lhe Borrower in
the execution of this Loan Agreement The power of representation wi not
expire unlil its express revocatio^ by the representative ol the Bonower
authorised at such time has been received by Kfl /.
12.2 Addresses. Notic€s or statements in connection with this Loan Agreement
must be in writing. They must be sent as originals or - with the exception
of requests for disbursement - via facsimile. Any and all notices or statements made in connectpn with this Loan Agreement must be sent to the
following addresses:
For KfW:
Kifv
Ath. Departnent LE d4
Postfach 11 11 41
60046 FranHurt am Main
Ge,many
Fax: +49 69 743'l-2944
For the Borrower:
Georgia
Minisfy of Finance
Attn. Oepartnent of Public Debt and External
Financing
16, Gorgasali Street
01 14 Tbilisi
Georgia
Fax:+995 32 2261 46'l
13.
General provisions
131
Banking day.Whete teference is made in this Loan Agreement to a ,,Bank-
ing Day" this means a day other than a Saturday or Sunday on which
commercial banks in Frankfurl am Main are open for general business.
\^3
13.2 Place ol peiomancc The plac€ of performance of all obtigations under
this Loan Agreement is Frankfurl am Main, Federal Repubtic of Germany.
13.3 Paftial invalidry and gaps. lf any provision of this Loan Agreement is or
becomes invalid, or if there is a gap in any of the provisions of lhis Loan
Agreement, this will not affeci the validity of the remaining provisions
hereof The parlies to this Loan Agreement will replace any invalid provision by a legally valil one which comes as ctose as possible to the spint
and purpose of the invalid provision The parties will fill any gap in the pro_
visions with a legally valid provision which comes as close as possible to
the spirit and purpose ot this Loan Agreement.
13
4
Wiften lom. Changes and suppl..,ments to this conlract must be made in
writing. Any waiver o, this requiremenl of written form must be declared by
ihe parties in witing.
13.5 Assignment The Borrower may nol assrgn or transfer, pledge or mortgage
any claims from this Loan Agreement.
13
6 Applicable law. This Loan Agreement is govemed by the laws of the Fed_
eral Republic of Germany.
13
7
Linitation peiod. All claims of KfW under this Loan Agreement expire after
flve years from the end of the year in which such claim has accrued and in
which KfW has become aware of the circumstances constituting such
claim or could have become aware otthem v{ithout gross negligence
13
8
Waivet ol lmmunily To lhe eltent lhat the Borrower may now or in fulure
in any jurisdic{ion claim for itself or its assets immunity from suit, execution, attachment or other legal process and to the extent lhat in any such
jurisdiction lhere may be attributed to itself or its assets such immunity, lhe
Bonower hereby irrevocably agrees nol to claim and hereby irrevoc€bly
waives such immunity to the fullest enent permitted by the laws of such jurisdiction provided, however, that immunity is not waived with respect lo
(i) present or future 'premises of lhe mission, including any bank accounls
as defined in the Vienna Conve:tion on Diplomatic Retations signed in
1961, 'consular premises" including any bank accounts as deflned in the
Vienna Conventton on Consular Relations slgned in 1963 or otherwise
used by a diplomat or consular mission of Georgia or any agency or in_
strumentalily thereof (except as may be necessary to etfect service of
process), (ii) property of a military character or under lhe controt of a mili_
tary authority or defenc€ agensy, (iii) property located in Georgia and
dedic€ted to a public, govemmentalor cultural use (as opposed to a com_
mercial use) or (iv) for the avoidance of doubt, (A) property of the Nationat
Bank of Georgia, whether or not held in a Georgian or a non-GeorgiaD
t4
.18 _
bank or any olher financial instilutions, or (B) property
located in Georgra
of any type covered by Arljcle 2 of the Law of Geoigia on gnOr"u._t
Proceedings. Georgia reserves the right to ptead
sovlreisn
,"_
der th€ U.S_ Foreign Sovereign lmmunities Act
of 1g7o
,""p.it i'o ,"lions brought against it in any court of or in the
Uniled Stafes of America
under any United Siates federal or State securities
law
,iit
13
9
i;;;;,f,
Legar disputes A[ disputes arising out of or in
connection with this Loan
Agreement wilt be setled exctusively and finally by
an
r,iorn"r.
ln this regard, lhe folowing will apply:
"rtitl'"rion
aa) The arbitration tribunal will consisl of one or
three arbitralors who
will be appointed and will acl in ac@rdance with
lhe Arbikation
Rules of the lntemational Chambe. of Commerce (lCC)
as amended from time to time.
bb) The arbitration proceedings will be conducted in
Frankfurt am Main
The proceedings wil be held in the English tanguage
1310 Transmission ol infomalion. KM/ is entilled to transmit
to the Federal Republic of Germany and the EU Ccrmission
information in connecttn witfr
the conclusion and the execution of this Loan Agreement
," ,r"tt tt"
Project. Kfll/. the EU Commission, the issuer
"a ,no
ot ttie teOerai grar'*,""
the Federal Republic of Germany are entiued to pass
on informalion re_
lated to the Loan and to the projecl including
the award of the contracts tor
the suppties and servtces to be linanced from the
Loan to lnt"rn"iafi or_
ganisations engaged in ihe collection
of statjstical data, particularty in lonnection with matters related to debt service
or lhe co ection
lion of data retated to the award of the contracts lor
"nA'puUl,""_
the
JJ;",_
vices to be financed from the Loan. The
above right to fo*",0 irfor.*t,on
to internalional organisations atso includes ttreiignt to
oir""rif pi"r'on
such inlormation to members of such organisations.
";p;",
e
vL
-19-
ThE Loan Agreement is execrrted in tvro (2) o{iginals, in the English language.
-l kx'
, /b .tz .2ori
L-\t
T
runisi,
Georgia
,t3. tz. 2or3
\
-20-
Annex 1
Oisburssment Schsdule
By the end ofeach disbursement period indicated below, the Borrower may re_
quest disbursement of loan amounls not exceeding in total the amount indicated
below for each disbursemenl period.
Period
from . until
1
01 .01.
- 30.06 2014
2
01 .07 .
- 30 12 2014
3
01 01. - 30.06.2015
4
01 .07 .
5
6
- 30 .12.2015
01.01. -30 06.2016
01 .07 .
- 30 122016
Disbulsemonts in
Period
(allfigures in EUR)
Maximum totalamount
that may bo disbursed
untilend ofsach di9.
burs€ment period (accumulated)
(allfiqures in EUR)
300,000.00
700,000.00
5,000,000.00
5,000,000 00
5,000,000 00
4,000,000 00
300,000 00
1,000,000.00
6,000,000 00
1 1,000,000 00
16,000,000 00
20,000,000.00
li
)a
1L11
dated 'lJ.ll
KfW, Frankfurt am Maln
rKfw)
and
Georgia
Represented by the Mintstry of Regional Development and lnfrastructure
('Recipi€nt.)
lot
EUR 2,000,000.00
. Intcgrated Solid Waste Managsment
(Accompanying Measure: lnstitutional Suppo(
Kutaiei .
and Capacity Building)
(BMZ-No. 2020 61 364)
_--1 , .
tu l_(,
:)
-2preamblo
The basis for this lmplementing Financing Agr€ement
is the Oelegation Agreement
dated December 02, 2013 (the "DelsgaUon Agreemont")
between KM and the
European Union represenled by the Commisslon
of the European Union (the
"Commbsion').
The Recipient rntends to jmplsment an environmentafly
waste management system for the City of Kulaisi
and hygienically sound solid
as welt as the sunounding regions
lrnereli and Racha-Lechkhumi and Kvemo Svan€ti for
proleclion of natural resources, lhe avoidance of
the purpose of contributing to the
environmental pollutjon and the
improvement of public heallh as well as to assign the respective
consutting services to
the lntegratcd Sotid Waste Management Kutslsl project (hereafter
.proiect.).
the
The
present lmplementing Financing Agreement (the 'Agroomont')
which serves lo transfer
dedicated funds for lhe proj€ct,s accompanying measure (e.g.
institutional suppon and
capacity building) to the Recipient made avaitabte by the European
Union through KfW
is part of a Loan Agreement extended by Kfl/V for the above mentioned project
The Project will be implemented by the Solid Wast€ Management
('Proiect lmplomentaflon Unlf) under the oversight of the
Company of Georgia
Ministry of Regional
Development and lnfrastructure of Georgia (.MRD|') Ths projecl will be
fi nancial
carried out with
assistance from the Recipient.
This Agreement is an integral part of the follovying co_financing
sources:
. A loan amounting to up to EUR 20,OOO,OOO.OO made avaitabte by KfW to the
Recipient through a separate loan agreemenl dated 13 .42 . ) 0.4?
. A local contribution by the Georgian side which includes, among others, payment
o[ taxes, Charges and custom duties, the provision ol land (hereafter
the -Local
Contribution') as specified more precisely in the Separate Agreemenl.
The Recipient, the project Imprementation unit and Kfw shaI derermine
the detairs of
lhe Project and the goods and services to be financed from the tinanciar
contribution as
well as lrom the olher co-financing sources by a "Separate Agreement,
On this basis,
KfW and the Recipient hereby enter into lhe foltowing
Agreement:
IL
3
4419r.1
,jlurnt and Puroos€ ol th€ Finenciat fuibulion
,I
(fw shell sxlgnd to the R€cipienl a tinenctal conbibution not orce€ding
EUR 2.000.m0.00
This ,inandal contribution sha not be repsyebt€ untoss othorwhe stputated in
Arlide 4 2
12
Th6 Recipignt shall, in accordenc€ fith the conditons set to(h in Articte 2.
mak€ avarlabte the tinanoat conhbution in lul lo lhe prorect hpt€mentelion
Unil The Recipient shatt ensuro thal the prcject tmplsmentation Unit uses
the
tinancial conlribution erctusivsty tor the EU tinanced ac@mpanying m€asure ot
lhe lntagnt d Solid W.!ta .n.gomeht Kutelsi proisd. The Rec,pient, lhe
Projecl lmplementation Unit and KfW sha dotermin€ tho d€taits ol lhe proiect
and the goods and servicas to be finsncsd from the financiat contibution by a
S€pant Agrsement. In addillon, any other padicutarilies resuhing ftorn lhe
cc'operation botween KtW Bnd lhe EU Commission ln connoction w h the
Projecl will be specilied in th6 Separate Agreement.
t3
The Recipient and KM/ shafl determine in deleil the Locat Contribution to
be
rendered by lho Recipiont jn the Sep€rate
Th6 Rocipient shall
&reement.
render its Local Contribution compleloly and in due Umo. The Recipient shall
lumish to KW ufion request evidenc€ proving lhe measur€s taken lo this end
14
Taxes and other public charges to be bome by lhe Reclpient or th€ projecl
lmplementation unrt and import duties shall not be financed lrom the linancial
c!ntributpn
non-repayabte
mptementaton
ncing of VAT
i)
-422
Prior to lhe llrst dbbu6sm6nt fom the financial conuiblrlion, the Recipi€nt sha
send KrW s cedifi€d t anslation ol ho agro€mont sp€cifiod tn Anicb 2.1 The
agreemont ls subjecl lo prirr approval by Kfi/v
23
Tho channelling of lhe linamiet contribulion sha not constitute any tiabitrty of
rhs Prolscl lmplemenlalion unI to Ktw for paymont obtigations undq this
A9re6menl
Articlo 3
Disbursement
3l
Kl\tr shall disburse th€ tinancial conlribution upon requosl ot the R€cipl€nt, in
6ccordanc6 wilh th€ progross ot th€ Projecl components linanced lrom this
fnancial conldMion The Recipbnt will€mpower the Project tmplemonting Unil
lo enter inlo lhe conlracls implemenling the Prqecl on hs behalf o{ and in its
n6me. By Separale Aoroement, th€ Recipient, th6 Proj€cl lmptementelion Unit
and KIW shalldelermine tho d-6bu6em9nt procedure, in padicutar the evidonce
proving that the rlquesled funds ar6 used lor th6 stiputat€d purpose and the
delails rogarding the role of fte Projoct lmplemenling UnlL
32
KrW shall have the righr to refuse to make disbursements afier December 31,
2018.
33
The firsl dbbursoment under this Agre€menl shalt b€ subject to the condition
precedent that lhe Sepsrsts Agreement has entered into forcs and
effect and
their condnions p.ecedents tot disbursement ere tunbd.
Ktw shatr onty be obtilod to ,rrate dlsDurscments
under this Agreemenl il and
lo lhe eienl that it has sef receiv€d
the @nesponding
funds irom the
Altcl.4
Susoension of Disbursements and Repaym€nl
4.1 XM Da/ pl tLrypd dibu,tc/72 )sa rst
J)
.5-
a)
lh€ Roddgnt hib lo pertom lls obtigatons lo KM/ ro m6ke paymgnts
wfi6n du6,
b)
oblagations under thls Agre€mont, lhe Loan Agre€msnt,
lhe Ssparate
Agrgement or under soparato agr€s,nonts pertinent to
tiese
agroem€nls hav6 be€n breach€d,
th€ Recipi€nt is unebt€ to prov6 f|gt ho disbursed amounts have
a[
b€en used for th6 Etiputated purpose,
d)
a roason lor l€mlnation sn(yor an 6venl of default und€r lhe Loan
Agreomenl or the Sepa6le Agr€emont occurs, whtch alows Kf,/V
to
demand the total o( padiat ropayrnent of its grants or tosn respoctivety
or lo rEvoke the Reclpient,s rilht to demand disbursement,
e)
exlEordinary ckcumstances ens€ lhat prectuds or serioust jeopardize
th€ implomentiation, tr)6 op€ration, or the purpose ot Ihs projoct;
the Commission rBqu€sts KfiA/ to suspend dBbursemenls
bas6d on th€
Oslegation Agr&ment; or
s)
lhe Coanmission lEndsls a racovery ordgr vis-a-vis KW
based on lhe
Oelegetion Agreemenl or tho Delegallon Agreement
ceases lo hav€
elfect or is leminated,
ll any of the siruations specjlied ln AIticto 4.1
b), c), d) or g) has occurred and
has nol boen oliminated wilhin a
F!€riod determined by Kfi/V, which shalt,
ho$€ver, b€ at lsast 30 deys, KfirV may,
a)
in th€ case ot Artile4l b) c,emand the immediate
(,isbursed afiounts;
repayment ot all
b)
in the case ol Mde 4.1 c), dsmand lhe immedBte repalmcnt
c)
in lhe case o[ Artcle 4 1, d), demsnd the rmmedlate r€paym€nt of
o! such
amounts es the Rocipient is unabte to prove to have been us6d tor De
slipulaled purposo:
such
amolnls, on a pro rata basis, that comespond lo lhe amounts reclaimed
by Kfw under tho Loan Agreemonl pertainrng thereto resp€ctivety
+^
-6-
d)
in rh6 cas€ ol Adicte 4.1.g) demand the immediat€ repayment of a
disbursed amounts which the Recipient has not yet bona frde commi(ed
or kansfened to a l€gitimate recipient in a lega y bmding manner Th€
R€cDi€nt shall in lum nc.lud€ or €nsure thal the prolect tmptomgntation
Un will includo inlo all its agroements €ntered into under the proj€ct ,
provisions €nsuring that funds which have not yet been bona fide
cdnmitled o. spenl for purposes ol the Proiect shat, b6 kansfened back
to lhe Recipienl in case ol temnation of the Detegation Agreement
43
ll the Recipi€nl do€s not prompry fun s repaymsnl obllgetions sp€citEd in
Adicle 4 2, il any, th6 Commbsion sha be entiled to take in its own rllht direct
measures agaiosl th6 Recipient, whereby any slch measure shalt be in
eccordanc€ with ihe applicable EU laws and regulations
Article 5
Cosls and Public Charoes
Th€ Rocipisnt shall bear atneros and oth6r pubtic charges sccruing outside the Fed€ral
Republc of Germany in connection wllh lhe conclusjon and orgcution of this
Agreemenl, as well as all t ansler and conversion cosls acaflnng in connection with the
disbu6emont ot lh€ ftnanciet @ntsibuton
A.ticl. 6
Conhactual Slalements and Powor of Reoresentation
61
The Minister of Regional Devetopmont and tnlrastructure and such percons as
dosignated by him or hor to KtW and aulhonsed by spocimen signalures
authenlicated by him Or her shall represonl th6 R€cjpienl in lho ox€culion o, this
Agreem€nt. The power ol repr€sentaljon sha not exptro until ils express
revocalion by lhe rep(esentalive of the Recipient authorised at the lime has
been rec€ived by Kn/v
62
Ah6ndmonls or add6nda io lhb Agr€nent and any nolEes snd st.temonts
delivered by lhe contracting pa ss uM€r this Agreemenl shal be in wrring
Any such nol,c6 or statoment shall have be€n recejyed onc€ ,l has anrved
al
the followng address o/ the conespondng contracling patly
ot at such olhet
)7
-7address of lh€ congsponding conlracting Pady as nolrfl€d to lhe other
conlracling partyl
Ann. oepertment LEd4
Postlach 11 1141
60046 FranHun am Main
Federdl Republic ol Germany
Fax +49 69 7431-2944
For lhe Reopient
G€orgia
Atln Doparlm6nt of lnfrastructure
0evelopment
12 Al. KazbegiAve
0160 Tbilisi, coorgia
FaK +995 32 2510 679
Al.tlcle 7
The Prorecl
71
The Rocipient willitsetl;nd witlensure that lhe projoct tmptementation Unit
wlt
a)
prepare, implem€nt,op€Gte and maintsin lh6 projoct n confonnity
wilh
sound financial and engrneering practices and subslantially in
ac.o.dane wtth ahe P.oiect con@ption agreect uryn between the
Rgciplent, th6 Proj€ct lmplemenlation Unit and KfWl
b)
ensure lhal the Pro,ed lmplementatiofl unit assrgns the prcparaloo 6nd
luDeNir,6n ol drtruclion ol tt€ PioFct to indeognd€nt, quahfled
ro qual$sd
consuhing erEineeE. and ttrc imPlementalion o! he Prolod
,nmsi lh€ Proiecl lmplemootalion L,nit witl in lhis respecl be 6mpov/sred
to acl lor and on behalfof the Recipienli
c)
l)
enswe tttat he Proiect lnoletnentatkn
l anlds lhe C)ntAr,trS l\l lhf"
goods and seMcss to be financed kom lhe linancial contribution upon
pdor intsmationel competitive bdding in tine wih KfW,s guidetnes lor
procurement and assignmenl of consulants as specil]ed in he
Separale Ag.eement; Ihe projecl lmptementalion Unit wi in
this respect
be empowered to actforand on behatf o, the Recipieoti
t)
-8,
d)
ensure lhe fullfinancing orthe pro,ecl
and, upon request of KM, fumish
lo KfW evidence proving that rhe cosrs not paid
contlbutbn are coveredj
e)
s)
h)
make the Locrl Contnbutirn in fultand
in du6 lrm€;
[rom lhis tinancial
;t))
-9The Cornmbsirr, lh€ European Courl ot Aud ors end any olher
@mp€tent Europ€an Community body sha have the right to ssnd thejr
olyn agents lo cafly oul on the spot checks and inspoctions as laic,
down in R€gulation (EC. Er,6tom) No 21OS/1996);
k)
of its own accord Fompfly infom KfW of any and 6lt drcumslances thet
predude or senously jeopardizo lh€ imptemontatrcn, ths operation,
lh6 purposo of th6 project
The Recjpient, the Project hptom€nlstion Unit and KtW shalt d€te.mine
or
th6
delails pertinent to Arli:te 7_1 by Separeto Agr€oment
Article 6
Mrscellaneous Prov6ions
The Recipient she its€ff 6nd wilt ensur€ that the projoct lmpl€montslion
Unit
will ensure lhat th€ pecons whom d entrusls with the pr€paration and
impl€msntatiofl ol the proj6ct, th€ award ol 6ny contract tor the supplies and
serylcas lo b€ I"hanced and with r€qu6rting disburssments of financial
@nhbuton amounts do not d6mand, assume, render, grent, promise orobtain
a plomiso of unlawful payme,il! or oth6. advanlag€s in connoction wilh
lhos€
tasks
Tho Rocipaenl witt ensure lhst the proied tmplemontation lJnit sheu promptjy
mako available to KfW oo demand all inlormalion and documents yrhicfr
rsquiros to fulfil [s obligations lo prevenl money laundering
t
r
financing as well as for th6 conlinuous mooiloring of the business
relalbnship
wilh lhe Poecl tmplemsnlation Unit. which is necessary tor
th|s purpose In
enlenng inlo End imptementing this ,€roolhent he projocl lmptem€nlalion
Und
acts in its own name and for rls own account. With rcgard to
Gernan law or Ihe
law ol he country of incorporetioi of the proiect lmptem€nl€tion
l
I
i
t
r
c
t
F
KM/
and tororism
Unit
a) lh€ Proiecl tmplemenlalion Unit,s own r€sources or lhe amounts investsd
in lhe financing of lhe prcject rvi not b€ ot i icit ongins and, in parlicutar,
this list being non.exhauslive, wil not be linked to drug hafiicking,
conuption, organEed crminal acuvily or t€nodsmi
)1
- 10.
d) lhs Prcject lmptomonhticn Unit wi not be ongsged in ,jnancing teno.ism.
KrW is entitled to
\flith information Agreement as
eftn3nY
of lhis
wer
ll any of lhe p.Dvrsions of this Agreem€nt is invatid, a
r€main unaffected thereby. Any gap resulling
provision coraistent with the purpos€
thoretrom shal be fi 6d by a
of thb &reemenl.
Th€ Recipi6nl rn3y not assign or t-ansf€r, pledge
this Agreemont.
All dispulgs arising olt of or in connection
or morlgage any clatms ,rom
with the present Agreemont shalt be
seltled oxctusively and fins y by an aditraton
lollo ing wilt aW:
oth6r prcvisions shalt
tribunat. ln thrs regard, the
a)
b)
;["iilil"J,lfff"T'r;#":,","ff",,H.':""nkrurramMainrhe
\5
'11'
The l€gal relatftrls establ'shed by this Agrcoment botween KfW and th€
R6cipient shall teminele wllh the end ot the us€fut tire ot the Projecl, but nor
laler then 15 years afl6r th6 signing oI lhis Agreement
in two (2)originals in th€ Englilh bngus$.
Ll-sr
or 1Ibr,,,. Ltv,zors
-A
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Ev.r
li"rcfcr \
L
Georga
Represented by fre
ars
Minrstry ol Regional Oevolopm€nl and
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lnfrast uct e
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ხელშეკრულება
Loan Aorgement
orr.o
./l?.42 ?*o
Kfftl, Frankfuri am Main
(,,KflY)
and
Georgia
Represented by the Ministry of Flnance
("Borrowe /')
Fot
EUR 20,000,000.00
- lntegratsd Solid Waste Managoment Kutaisi (BMZ-No 2011 66 479)
1/
wl
r
Contents
Preamble
'1. Loan
2. Disbursemenl
3. Fees
4. lnterest
5. Repayment and prepaymeni
6. Calculations and payments in general
7. FederalguaBnlee
8. Negative ptedge and paripassu
L Costs and public charges
10. Speciatobtigations
11. Reasons for termination
12 Representation end stalemenls
13 General provisions
(.:
Annexes
Annex
1
Disbursement schedule
3preamble
The basrs for this Loan Agreement is the agreement dated 31 May 2012 between
the Government of the Federal R€pubtic of Germany and the Government of
Georgia on Financial Cooperation (FC) ("Govsrnmont Agrssment,,)_
The Borrower intends lo implement an environmentally and hygienically sound
solid waste managemenl system for the City of Kutaisi as well as the surrounding
regions lmereti and Racha-Lechkhumi and Kvemo Svaneti (inctuding, rn particutar,
a new sanitary landfill, equipment for transport and operation as well as closing of
the old landfill in Kutaisi) for the purpose of contributing to the protection of natural
resources, the avoidance of environmental pollution and the improvement ol public
health as well as to asslgn the respective consulting services to the Integrated
Solid Waste Managomont Kutaisi project (hereafter the'prolect")
The Project will be implemenled by the Solid Waste Management Company of
Georgia ("Proigct lmplomentalion Unif) under the oversight of the Ministry of
Regional Development and lnfrastruclure of Georgia ('MRDl"). The project wi be
carried out wilh financial assistiance from lhe Borrower.
MRDI, enkusted by lhe Bonower with the responsibility of imptementing the project, lhe Project lmplementation Unit and Ki/v shafl determine lhe detaits of the
Project, the goods and services to be financed lrom the Loan, the disbursement
and procurement procedure and any further detaits as specifided in this Agreement by a 'Separate Agreomenf.
Thrs Loan Agreement is an integral part of he following co-tinancing sources:
. A financial contribution amounting to up to EUR 2,000.000 O0 to be made
available by the Commission of the European Unlon through Kfl^/ by a separate financing agreement dated
(hereafter
lZ .f lt.l3
the "lmplementing Financing Agreemenf)
]?
. A local contribution by the Bono!rer. Mich includes, among others: payment of taxes, charges and cuslom dutbs, the provision of the land (hereaf,
ter 'Local Contibution') as specified more precisely in the Separate
Agreement.
Under the condition that the Federal Republic of Germany will provide inlerest rate
subsdies and under the condition that the Federal Republic of Germany will provide a guarantee for the loan KM, will e\€nd a Loan subject to the terms provi-
sions of this Loan Agreement. The terms and conditions of the Loan compty with
the OECD requirements applicable on the date of signing of this Loan Agreement
for recognition as Oflicial Development Assistance (ODA)
-41.
Loan
1.1
Amourl. KfW willextend to lhe Bonower a Loan nol exceeding a total of
EUR 20,000,000.00
(the "Loan").
Loan putpose. The Bonower shall use the Loan exclusively to flnance the
implementalion of the lntegrated Solid Waste Managemenl Kutaisi project
("Proiect'). The Bonofler shall channel the Loan in full to lhe Project lmplementation Unit. MRDI, entrusted by the Borrower with the responsibility
of implementing the Project. lhe Project lmplementation Unit and KfW wrll
detine the details ot the Project as well as lhe goods and services to be fi.
nanced from the Loan in the Separate Agreement.
Taxes, charges, customs dulies. Taxes and other public charges owed by
the Borrower or the Projecl lmplementalon Unit. as well as customs dutres
may not be financed from the Loan.
14
Channeling ol the Loar. The Bonower shall channel the Loan in full to the
Project lmplementation Unit under an onJending agreement at the terms
and conditions set forth in Aiides 4.1 and 5.1 hereof and at an interest
rate not exceeding the Fixed lnterest Rate in accordance with Article 41
hereof Article 1.5 shall be complied with prior to lirst disbursement The
channelling ot the Loan shall not constitute any liability of the Project lmplementation Unit to KfW for payment obligations under this Agreement.
15
Onlending agreomenf. The on-lending agreement specified rn Article 1.4
hereof shall contain a regulation on the flnancing of VAT payments to be
bome by the Georgian side. Prior to the first disbursemenl from the Loan,
the Borrower shall send Kfl , a certified translation of this on-lending
agreement This on-lending agreemenl is subject to prior approval of KllN
2.
Disburaement
21
Request for disbu.s,emeni As soon as all cond ions precedent to disbursemenl pursuanl to Article 2.i, are fuHilled, Kfll/ will disburse the Loan
in accordance with the progress of the Proiect upon request of the Proiect
Implementation Unit Disbursement will be effected in accordance with the
drsbursement schedule contrained in Annex 'l to this Loan Agreement. KfW
will make disbursements only up to the maximum amounts determined for
each hal[year. To the extent the BotTovrer requests disbursement of lower
amounts wilhin any half-year the undisbursed amounG may be requested
in any subsequent half-year period. With the exception of lhe last dis'
g
5
bursement, KMr is not obligated to effeci disbursements in an amount of
less lhan EUR 200,000 00
2
Deadline for rcquesting disbu|sement. KM,l may deny disbursements after
December 31, 2018.
2.3
Condilions Precedent to Disbwsemonl Kfi / is obligated to make dis'
bursements of any amounl under this Loan Agreement only upon fullill
ment of the lollowing conditions precedent in a form and content accept-
2
able to KM,/:
a) the Bonower will have demonstrated by presenting a legal opinion satisfactory to KfW and by presenting c€rtilied copies (each with a German
or English translation) ot alldocuments to which this legalopinion refers
that
aa) the borrower has fulfilled all requirements under its constitutional
law and other legal provisions for the valid assumption of all its obligations under lhis Loan Agreement, and
bb) KfW is exempted from alltaxes on income from interest, charges,
fees and similar costs in Georgia when granting the Loan;
b) the specimen signatures menlioned in Article 12'l (Representation of
the Borowe0 have been submitted;
c) the Guarantee lrom the F€deral Republic of Germany mentioned in Article 7 is in force and effect without any reslriction:
d) the Borower has paid the management fee mentioned in Arlrcle 3 2;
e) the Separate Agreement and the lmplementing Financing Agreement
have entered into force and etfect and their conditions precedents for
disbursement are fu lfilled:
0 no reason for termination has occuned or is threatening; and
g) no extraordinary circumstances have arisen that preclude or seriously
jeopardise the implernentation, the operation. or the purpose of lhe Prothe
.iect. or the perlormance ot the payment obligations assumed by
Borrower under lhis Loan Agreement
Prior lo disbursement from the Loan KfW has the right to demand such
further documents and evidence as it reasonably deems necessary'
w
2.4
Sepante Agreement ln a separate agreement the MRDI, enkusted by the
Borower with the responsibility of implementing the Project, the Project
lmplementation Unit and KM,l will specify the disbursement procedure including specific conditions precedent to disbursement, in particular the evidence to be tumished by the ProFst lmplementing Unit proving that the
requested Loan amounls are used for the purpose stipulated in this Loan
Agreement.
25
Waiver ol disbu,sement. Subjecl to lhe fulfllmenl of its obligations under
Article 10 the Bonower may waive the disbursement of undisbursed Loan
amounts with the consent of KM/ in exchange for the payment of the nonacceptance compensation pursuant lo Micle 2.6 subject to Article 4 2
Non-acceplance comporsalrbr. lf the Bonower waives disbursement of a
loan amounl, or if a Loan amount is not disbursed at all or is not disbursed
by the deadline stated in Article 2.2 for other reasons for which KfW cannot be held accountable, the Borrower will promptly pay to KfW upon its
request such amount as is necessary to compensate KfW for any losses,
expenses or costs incuned by KM/ as a result of the non-acceptance o[
the Loan amount in question. KM/ will calculate the amount of the nonacceptance compensation and communicate it to the Borower.
Fees
3'1
Commilmenl fee. The Bonower will pay a non-refundable commitment fee
ol 0,25 o/o p. a. on undisbursed Loan amounts. The commilment fee will be
computed tor the period beginning with the elapse of a three-month period
following the signing of this Loan Agreement and lasting until such date
lhe Loan has been disbursed in full, or tully cancelled, as the case may be
The commilment fee is due for payment semi-annually and in arrears on
30 June and 30 December of each year (each a "Payment Date"). lt is lirst
due for payment on 30 June 2014.
Management feo. The Borrower will pay KfW a non-refundable one-lime
lump-sum management fee of lyo of the principal amount of the Loan
stated in Article 1.1.
The managemenl fee becomes due at the earlier of (i) prior to the frrst disbursement under the Loan or (ii) after expiry of a three-monlh period atter
the signing of this Agreement by KM,/ or upon elapse of a one-month period after the entry into force and effect of this Agreement (whichever of
these due dates stated under (ii) occurs latest). Once this Agreement has
been signed, the management fee will lully accrue regardless of whether
the Loan will be disbursed in full, or at all
tl
)
-7 1.
lnterest
The Borrower shall pay to KM,l interest at a rate determined as follows.
41
lnterest (frxed inte{"st nle set upon cammilnenl of the Loan). The gor
rower shall pay interest on tho Loan al a rale ol
/1fu2"h p.a. C'Fixsd lnterest Rate") until the lasl repaymert instalment according to the Repayment Schedule as defined in Article 5.1 has been received by Kfw.
42
bursed Loan amount will be charged from the date (exclusively), on which
the respectivo Loan amount is paid out of the Loan account held with KfW
for the Borrower until the date (inclusively), on which the respective repayments are credited to K[,\ls account stated in Article 63 (Account
number, time ol crcditingr. lnterest will be calculated in accordance with
Article 61 (Ca,culatior). lnterest will be paid in anears on the Payment
Oates (as defined in Article 3.1).
5.
Repayment and prspaymsni
51
Repayment schedule. The Bonolwr will repay the Loan as followsi
i lr*r.rn{$vrr"t
urency
1
30 06.2019
1000.000,00 EUR
2
30.12 2019
1.000.000,00 EUR
3
30 06.2020
1.000 000,00 EUR
I
30.12 2020
1.000.000,00 EUR
5
30 06.2021
1000.000,00 EUR
6
30.12 2021
1 000
7
30 06 2022
't.000.000,00 EUR
8
30 12 2022
1000.000,00 EUR
9
30 06 2023
1.000.000.00 EUR
10
30122023
1000.000,00 EUR
11
30 06 2024
1 000
30.12 2024
1000.000,00 EUR
30 06.2025
,000.000,00 EUR
30 12 2025
1 000
14
000,00 EUR
000,00 EUR
000.00 EUR
t)
000,00 EUR
15
30.06.2026
1 000
16
30.12.202A
1.000 000,00 EUR
17
30.06.2027
1 000
'18
30 12 2027
1.000 000.00 EUR
19
30.06 2028
1.000.000,00 EUR
20
30.12.2024
1000.000.00 EUR
000,00 EUR
Undisbu6ed loan amounls. Undisbursed Loan amounls will be otlset
againsl the respective last repayment instalment due pursuant to the repayment schedule unless KM,/ at its own discretion chooses another offsening altemative in individual cases
53
Disbu6emenls afrer the sldtl ol repaymenl lf Loan amounts are disbursed
after repaymenl has started, the repayment schedule as listed in Article
5 1 will remain unaffecled as long as the respective repayment instalment
due rn ac@rdance with lhe repayment schedule is less lhan the Loan
amounts already disbursed. lf the repayment instalmeni due for payment
exceeds lhe outstanding loan amount, KM,l will deduct the amount equal
to the difference trom the repayment instalment due, divide it by the remainder of the repayment instalments still outstranding, and add this sum
lo each outrstanding repayment instalment. Kn / reseryes the right lo postpone taking disbursements into consideration that are made within 45
days prior to the respective Payment Date for the determination of the outstanding Loan amount until the second Payrnent Date following the disbursement
54
PrepaymenLfhe frcllowing will apply to early repayments:
a) Nght to make prcpaymenls. rhe Bonower may sub,ect to the subparagraphs (b) to (e) below effect an early repaymenl with respect to a
Loan amount provided that such eady repayment shall be at least in the
amount of one repayment instalment pursuanl to Article 5.'!.
b)Nofice A prepaymenl of a Loan amounl pursuant to Article 5 4 a) is
subject to notification of lhe prepayment by the Borrower to KMJ no later
than on the fifteenth Bankrng Day (as defined in Article 13.1) in Frankfurt am Main prior lo lhe intended prepayment date Such notice is irrevoc€ble; it must speofy the date on which lhe prepayment is lo be
made and the amount thereof and obligates the Borower to pay to KM
the stated amount on the stated date.
,a
-9cl P@paymenl compensation lf the Borrower prepays any Loan Amount
beanng interest at a Fixed lnterest Rate, ihe Borrower must immediately
pay to KM/ upon request such amounl as is necessary to compensate
for any losses. expenses or costs incufled by KflA, as a result ol the
prepayment KM,l will determine the amount of the prepayment compensation and communic€te it to the Borower.
d) Amounls dus. The Borrower will also pay the following amounts together with the prepayment pucuanl to Artcle 5 4 a) to c):
aa) any prepayment compensatfun due as a result of the prepayment
pursuant to Article 5.4 c)i and
bb) all interest accrued on the prepaid Loan amount up unlrlthe date of
the prepaymenl.
e) Otrsetting. Article 5.2 lundisbursed lodn dmounts) will apply mutatis
mutandis to the offsetting of prepayments.
55
Revised repaymonl schedu,s ln the event that Article 5.3 (DisDursements
aftet the staft of Dpaymer0 or Article 5.4 (Prcpayment\ applies, KfW will
send the Borower a revised repayment schedule that will become an inte-
gral pan of this Loan Agreement and will replace the repayment schedule
valid until such lime
6.
Calcul.tions and paymgnt! in goneral
61
Catculalion. lnleresl, the commilment fee, default interest pursuant to Arti'
cle 6.5, lump-sum compensation for overdue amounts pursuant to Arlicle
6 6, non-acceptance compensation pursuant lo Article 2.6 and prepaymenl
compensalion pursuant to Adicle 5.4 (c) will all be c€lculated on the basis
of a 360day year with 30day months.
Due date. lt a paymenl lo be made in conneclion with this Loan Agree'
ment falls due on a date that is not a Banking Day (as defined in Article
'131) the Borrower must make such payment on the following Banking
Day lf the following Banking Day tulls within the next calendar month, the
respective payment shall be effecled on the hsi Banking Day of lhe then
cunent calendar monlh.
bJ
Ac:count number, time ot qediting. The Bonower will be released from its
payment obligations in connection with this Loan Agreement if and as
soon as the respective amounts have been credited to KfW at its free disposal without any deductions in Euro and no later than '10:00 a.m. in
FranKurt am Main to KfWs account IBAN DE 80 50020400 3108 454698
(tas, d/g/ts sland fot the GP numberl SWIFT-BIC KFWDEFFXXX, wilh
/1
-10additional reference of the due date "Ref. YYYYMITDD). Should KfW notify a new accounl number lo the Borrower, the same shall apply to payments made to such new account accordingly.
64
Counterclaims of lhe BoraweL the Bonower is not entitled to assert any
rights of retention or set-off or comparable rights against payment oblrgations under this Loan Agreement unless such rights are recognised by final
judgment or are not being contested by Kl1 ,/.
6.5
Default inlercst. lf any repayment instalments or prepayments pursuant to
Nticle 5.4 (Ptepaynea0 are not at lhe disposal of Kfl when due, KM,/
may without prior reminder charge default interest at a rate of 300 basis
points p.a. above the Base Rate for the period beginning on lhe due date
and ending on lhe dale on which such payments are cred ed to lhe ac.
counl of Kfi / specified in Article 6.3. This rate must at least equal lhe
Fixed Interest Rate pursuant to Article 4.1. The "Base Rate" is the interest
rale announced by the German Central Bank (Deutsche Bundesbank) as
base rate prevailing on the respeclive due date Such default interest must
be paid immediately upon KMfs first demand.
66
Lump-sum com,€nsdlion For overdue amounts (with the exception of
such repayment instalments and prepayments as mentioned in Article 6 5
(Default inleresg KM/ may. without prior reminder, request lump-sum
compensation of a rate of 300 basis poinls p.a. above the Base Rate applicable on the respective due date for the period beginning on lhe due
date and ending on the dale of payment of such overdue amounts. The
lump-sum compensalion must be paid immediately upon KfWs firsl demand. The Borrower shall be free to prove that no damage was in fact incurred or that the damages were not incurred in the amount as stated
Offseftrg Kfl / has lhe right to offset payments received against payments due under this Loan Agreement or under other loan agreements
concluded between KflAl and the Bonower
68
Calculations made by KfW. Absent manifest error Kfl/V's determinations
and its calculation of amounts under this Loan Agreement and in connection with this Loan Agreement shall constitute prima-facie evidence.
7.
Guarantes from thG Federal Republic of G6rmany
KfW will have payment claims under this Loan Agreemenl guaranteed by
the Federal Republic of Germany prior to the first disbursement.
-118.
Nogaiivo plsdgo and parl psssu
81
Prohibition ol pledg€ or noftgage. The Borower may not itself and shall
ensure that the Prcject lmplementing Unit will not pledge, nor mortgage
nor alienate the Ploject assets before repaymenl in full of the Loan nor
conclude any other agreement or a[angement the elfect of which is the
creation of security or any righl confening a priority of paymenl in respect
of any obligation of any person wilhout the prior consent of KfW Project
assets shall be defined as a) assets purchased from funds of the Loan
Agreement or the Local Contribution, or b) assets exclusively made available by the Borrower for purposes of the Project (including land rights), or
c) assets that are or will become essential elements of lhe Project, indispensable for its proper implementation, or d) assets that result from the
implementation of the Projecr. notably intellectual property rights
82
Pai passu. To lhe extent permitted by law, the Borrower undertakes to
perlorm the obligations under this Loan Agreement pari passu with all its
other existing or future unsecured and not subordinated payment obligations.
9.
Costs and public charges
91
Pmhibtlion of deduclions or withholdings. The Borrower will make all payments under this Loan Agreemer: without any deductions for taxes, other
public charges or olher cosh. ln the event thal the Borrower is obligated
by law or tor other reasons to effect any such deduclions or withholdings
on payments lo KW. the payments made by lhe Borrower will increase by
such amounl as is necessary in order for KfW to receive tn full the
amounts due under this Agreemenl afte, such withholdrng or deduction.
Cosfs. The Bonower will bear all costs and expenses accruing in conneclion with the disbursement of the Loan, in particular remittance and transfer cosls (including conversion fees), as well as all cosls and expenses
accruing in connection with the maintenance or enforcement of this Loan
Agreement.
93
Taxes and other charyes. The Bonower will bear all taxes and other public
charges accruing outside lhe Federal Republic of Germany in connection
with the conclusion and execution of lhis Loan Agreement. lf KfW advances such taxes or charges, the Bonower will transfer them \uithout de.
lay upon request to KM/s account as specified in Article 6 3. Article 6 applies mutatis mutandis.
l1
((
-12-
94
/ncreasedcosls lf by reason ot
a) compliance with requesis or requirements issued
by any central bank or
other fiscat, monetary or other authority ater ttre Oate
Agreemenl, or
b) any change in law or its interpretation and adminislration,
of this Loan
or
c) lhe entry into effect, terminatic.r or amendment
of any applic€ble bitat_
eral or multilateral treaty or agreement, in particular
on do;bb
taxation,
KM/ incurs additional costs or losses or is unable to
obtain the agreed
having entered inti and
fund_ed lhis Loan Agreement ("lncreascd
Costs,), the; xnry
iorirv
the Boffower thereupon. Any such demand Oy KfW stral
"iari
Oe accompaiiea
by a notice from KnA/ siating the basis for its demand
ana setfing foitr in
reasonable detail lhe calculation of the amount
lhereof.
margan over its refinancing cosls as a result of its
10, Special obligsflong
10.1 Project imptementalion and speL:dl inlomation. The Bonower wrll itsetf
and will ensure that the proFcl lmplementation Unit
a) prepare, implement, operate and maintain the project
in conformity with
sound llnancial and technical prac{ces and substantially in
accorjance
with the project conception agre€d upon between
lhe MRDI, the project
lmplementation Unit and KfW:
b) ensure lhat the project lmplementation Unit
assigns lhe preparation and
supervision of construction of lhe project to ind;pendent, qualified
con_
sulling engineers or consultants, and the implementation
project
ot the
to qualified firms.
c) ensure that the project lmplemenlation Unit awards
the contracts for lhe
goods and services to be flnanced from
lhe Loan upon prior rnterna_
tional competitive bidding in line with Kfl rs gujdetines
for'pro.rr"r"nt
and assignment of consultants as specified in
the Separate Agreement,
d) ensure the full financing of the project
and fumish to KfW upon its re_
quest evidence proving that the costs
not paid from this Loan are covered;
e) keep books and records or have books and records
kept that unequtvocally show all costs of goods aad services required for
rte er'o1""i .ni
clearly identiry the goods and services financed from
lhis Loan:
tt
-13-
0 enable the representatives of KM/ at any time to inspect such books
and records and any and all other documentation relevant to the rmplementation and operation of lhe project, and to visit the project and all
the installations related thereto:
g) will furnish to Kf,A, any and all such information and records on the pro_
ject and its further progress as KfW may request;
h) make the Local Contribution in full and in due time: and
i) immediately and of its own acco.d.
aa) forward to KfW any queries received by the Bofiower from the
OECD or its members under the so-called "Agreement for Untied
ODA Credits Transparency" following the award of the contracts for
the supplies and services to be linanced ftom the Loan and willcoordinate the reply to any such queries with Kfw, and
bb) noliry KM/ of any and all circumstances that prectude or seriously
jeopardise the implementation, the operation or the purpose of the
Project.
10.2 Separale Agteement The MROI, entrusted by the Bonower with the responsibility of implementing the Project,the proisc-t tmptementing Unit and
Kfw shall determine the details of Article 10.1 by the Separate Agreement.
'10.3 ,4ssrstarce ol lhe Bofiower. The BorrouJer will assist the project lmplementation Unit in the implemenlation of the project in conformity with
sound engineeing and financial practices and in lhe performance of any
obligations imposed by the Separate Agreement direcfly onto the pro,ect
lmplementation Unil and, in particular, grant the project lmplementation
Unit any and all permissions nec€ssary for the implementation of lhe pro,ect.
10.4 Compliance. The Borrower wil itself and will ensure that the project lmplementation Unit will ensure that the persons whom it enkusts wilh the
preparatioo and implementation of the project, the award ol the contract
for the supplies and services to be financed, and with requesting dis_
bursements of lhe Loan amounts do nol demand, acc€pt, make, grant,
promise or accept the promise of unlawful payments or other advantages
rn connection with these tasks.
105 fhe Borrower will ensure that the project lmplementation Unit shall
promptly make available to KfW on demand all information and documenls
which K1W requires to fulfil its obligations to prevent money laundering and
terrorism financing as well as for the continuous mon(oring of the business
/>
- 11-
relalionship with the project lmplementiation Unit, which is nec€ssary for
this purpose.
ln entering into and implementing this Agreement lhe proiect lmplementa_
tion Unit acts in its own name and for its own accounl. With regard to
German law or the law of the country of incorporation of the proiect lm-
plementation Unit
a) the Project lmplernentation Unifs own resources or the amounts in_
vested in the linancing of Ihe proiecl will not be of iflicit origins and, in
particular. this list being non-exhauslive. will nol be linked to drug kaf_
ficking, conuption, organised criminal activity or terrorism;
b) the shareholder capihl of the project lmplementalion Unit will not at any
time be of illicit origins and, in particular, this list being non_exhaustive,
will not at any lime be retated to drug trafficking, corruption, organised
cdme or terrorism;
c) the Project lmplementation Unit will not be engaged in the acquisition,
possession or use of properly that is of illicit origins and, in parlicular,
lhis list being non€xhaustive. will nol at any time be relaled to drug traflicking, corruplion, organised cdme or terorism; and
d) lhe Project lmplementation Unir will nol be engaged in financing terorism
'10
6
Trenspotl ot goods. The provisions set forlh in the Government Agree_
ment, which are known to the Bonower, will apply to the transport of the
goods lo be financed fmm the Loan.
11. Tormlnation
11.'l Evenls ol Detault. KM/ may exercise the rights set forth under Articte 1.1.2
(Legal consequen@s of an Event ol Dehul} if an event occurs which
con_
stitutes a material reason (w,bhlrgEr Grund). ln parlicular, the following
events shall each constitute a matLrial reason:
a) the Borrower fails lo pertorm its obligations to KM,/ lo make payments
when due;
b) obligalions under this Loan Agreement. the lmplementing Financing
Agreement, the Separate Agreement or under any other separale
agreement pertinent to this Loan Agreement or the lmplementing Fi_
nancing Agreement have been breachedi
.15c) lhis Loan Agreement or the lmplementing Financing Agreemenl or any
parts thereof cease lo have a binding effect upon the Bonower or ceases to be enforceable against the Bonower;
d) the Separate Agreement or any parts thereof cease to have a binding
effect upon the parties to lhe Separate Agreement or to be enforceable
against the parlies to the Separate Agreement;
e) a reason for termination and/or event of default under the Loan Agreement or the lmplementing Financing Agreement occurs, which allows
Kfw to demand the total or partial repayment of its respective grants or
to revoke the Borower's right lo demand disbursement;
D the Bonower tails to provide or to ensure the Local Contnbutrcn to the
Project as set forth in Article '10.1. h) and the Separate Agreement;
g) any declaration, confirmation, information or representalion or warranty
considered by KnA, to be ess€ntial for the granting and maintaining of
the Loan proves to be false, misleading or incomplete;
h) other eltraordinary circumstances occur which delay or preclude the
pertormance of obligations under this Loan Agreemenl;
i) the Bo[ower is unable to prove that the loan amounts have been used
for the stipulated purpose;
j) The Bonower is, or is deemed for the purpose of any law, to be unable
to pay its exlernal debls as they fall due or insolvent, begins negotiations with any extemal creditor for a moratorium, a waiver of any of its
external indebtedness, a rescheduling of any of its externat indebtedness, or for a suspension of making paymenls on any of its exlernal
debts.
11
2
Legal consequences of an Event ol DelaulL lf one of the events referred to
in Article 12.1 has occurred and has not been eliminaled within a period of
five days (in the case of Aticte 11.1 a) or, in all other cases specilied in Article 1 L1, has not been resolved within a period determined by KflA, which
may not, however. be less lhan 30 days, KM, may terminate this Loan
Agreement or any parls of it with the consequenc€ that
a) its obligalions under lhis Loan Agreement terminate, and
b) KfW may demand full or partial repayment of the outstanding Loan
amounl together with the inrerest accrued and any and all other
amounts due under this Loan Agreement Articles 6 5 (Defau interest)
/a
.16 -
and 6 6 (Lump-sum compensatjon', apply lo accelerated amounts mutatis mutandis
1
I3
Compensalion for damages ln lhe evenl that this Loan Agreement is ter_
minated in full or in part the Bonower will pay non-acceptance compensa_
tion in accordance with Article 2.6 (l,,toa-acc€ptdnce compensation) andlot
prepayment compenszrtion in accordance with Article 5.4 c) (prepaynent
compensation)
12, Representation and statrmonts
12.1 Reprcsentation ol the Bonower. The Minister of Finance of Georgia and
such persons as designated by him or her to KM,/ and authorised by spec_
imen signatures authenlicated by him or her will represent lhe Borrower in
the execution of this Loan Agreement The power of representation wi not
expire unlil its express revocatio^ by the representative ol the Bonower
authorised at such time has been received by Kfl /.
12.2 Addresses. Notic€s or statements in connection with this Loan Agreement
must be in writing. They must be sent as originals or - with the exception
of requests for disbursement - via facsimile. Any and all notices or statements made in connectpn with this Loan Agreement must be sent to the
following addresses:
For KfW:
Kifv
Ath. Departnent LE d4
Postfach 11 11 41
60046 FranHurt am Main
Ge,many
Fax: +49 69 743'l-2944
For the Borrower:
Georgia
Minisfy of Finance
Attn. Oepartnent of Public Debt and External
Financing
16, Gorgasali Street
01 14 Tbilisi
Georgia
Fax:+995 32 2261 46'l
13.
General provisions
131
Banking day.Whete teference is made in this Loan Agreement to a ,,Bank-
ing Day" this means a day other than a Saturday or Sunday on which
commercial banks in Frankfurl am Main are open for general business.
\^3
13.2 Place ol peiomancc The plac€ of performance of all obtigations under
this Loan Agreement is Frankfurl am Main, Federal Repubtic of Germany.
13.3 Paftial invalidry and gaps. lf any provision of this Loan Agreement is or
becomes invalid, or if there is a gap in any of the provisions of lhis Loan
Agreement, this will not affeci the validity of the remaining provisions
hereof The parlies to this Loan Agreement will replace any invalid provision by a legally valil one which comes as ctose as possible to the spint
and purpose of the invalid provision The parties will fill any gap in the pro_
visions with a legally valid provision which comes as close as possible to
the spirit and purpose ot this Loan Agreement.
13
4
Wiften lom. Changes and suppl..,ments to this conlract must be made in
writing. Any waiver o, this requiremenl of written form must be declared by
ihe parties in witing.
13.5 Assignment The Borrower may nol assrgn or transfer, pledge or mortgage
any claims from this Loan Agreement.
13
6 Applicable law. This Loan Agreement is govemed by the laws of the Fed_
eral Republic of Germany.
13
7
Linitation peiod. All claims of KfW under this Loan Agreement expire after
flve years from the end of the year in which such claim has accrued and in
which KfW has become aware of the circumstances constituting such
claim or could have become aware otthem v{ithout gross negligence
13
8
Waivet ol lmmunily To lhe eltent lhat the Borrower may now or in fulure
in any jurisdic{ion claim for itself or its assets immunity from suit, execution, attachment or other legal process and to the extent lhat in any such
jurisdiction lhere may be attributed to itself or its assets such immunity, lhe
Bonower hereby irrevocably agrees nol to claim and hereby irrevoc€bly
waives such immunity to the fullest enent permitted by the laws of such jurisdiction provided, however, that immunity is not waived with respect lo
(i) present or future 'premises of lhe mission, including any bank accounls
as defined in the Vienna Conve:tion on Diplomatic Retations signed in
1961, 'consular premises" including any bank accounts as deflned in the
Vienna Conventton on Consular Relations slgned in 1963 or otherwise
used by a diplomat or consular mission of Georgia or any agency or in_
strumentalily thereof (except as may be necessary to etfect service of
process), (ii) property of a military character or under lhe controt of a mili_
tary authority or defenc€ agensy, (iii) property located in Georgia and
dedic€ted to a public, govemmentalor cultural use (as opposed to a com_
mercial use) or (iv) for the avoidance of doubt, (A) property of the Nationat
Bank of Georgia, whether or not held in a Georgian or a non-GeorgiaD
t4
.18 _
bank or any olher financial instilutions, or (B) property
located in Georgra
of any type covered by Arljcle 2 of the Law of Geoigia on gnOr"u._t
Proceedings. Georgia reserves the right to ptead
sovlreisn
,"_
der th€ U.S_ Foreign Sovereign lmmunities Act
of 1g7o
,""p.it i'o ,"lions brought against it in any court of or in the
Uniled Stafes of America
under any United Siates federal or State securities
law
,iit
13
9
i;;;;,f,
Legar disputes A[ disputes arising out of or in
connection with this Loan
Agreement wilt be setled exctusively and finally by
an
r,iorn"r.
ln this regard, lhe folowing will apply:
"rtitl'"rion
aa) The arbitration tribunal will consisl of one or
three arbitralors who
will be appointed and will acl in ac@rdance with
lhe Arbikation
Rules of the lntemational Chambe. of Commerce (lCC)
as amended from time to time.
bb) The arbitration proceedings will be conducted in
Frankfurt am Main
The proceedings wil be held in the English tanguage
1310 Transmission ol infomalion. KM/ is entilled to transmit
to the Federal Republic of Germany and the EU Ccrmission
information in connecttn witfr
the conclusion and the execution of this Loan Agreement
," ,r"tt tt"
Project. Kfll/. the EU Commission, the issuer
"a ,no
ot ttie teOerai grar'*,""
the Federal Republic of Germany are entiued to pass
on informalion re_
lated to the Loan and to the projecl including
the award of the contracts tor
the suppties and servtces to be linanced from the
Loan to lnt"rn"iafi or_
ganisations engaged in ihe collection
of statjstical data, particularty in lonnection with matters related to debt service
or lhe co ection
lion of data retated to the award of the contracts lor
"nA'puUl,""_
the
JJ;",_
vices to be financed from the Loan. The
above right to fo*",0 irfor.*t,on
to internalional organisations atso includes ttreiignt to
oir""rif pi"r'on
such inlormation to members of such organisations.
";p;",
e
vL
-19-
ThE Loan Agreement is execrrted in tvro (2) o{iginals, in the English language.
-l kx'
, /b .tz .2ori
L-\t
T
runisi,
Georgia
,t3. tz. 2or3
\
-20-
Annex 1
Oisburssment Schsdule
By the end ofeach disbursement period indicated below, the Borrower may re_
quest disbursement of loan amounls not exceeding in total the amount indicated
below for each disbursemenl period.
Period
from . until
1
01 .01.
- 30.06 2014
2
01 .07 .
- 30 12 2014
3
01 01. - 30.06.2015
4
01 .07 .
5
6
- 30 .12.2015
01.01. -30 06.2016
01 .07 .
- 30 122016
Disbulsemonts in
Period
(allfigures in EUR)
Maximum totalamount
that may bo disbursed
untilend ofsach di9.
burs€ment period (accumulated)
(allfiqures in EUR)
300,000.00
700,000.00
5,000,000.00
5,000,000 00
5,000,000 00
4,000,000 00
300,000 00
1,000,000.00
6,000,000 00
1 1,000,000 00
16,000,000 00
20,000,000.00
li
)a
1L11
dated 'lJ.ll
KfW, Frankfurt am Maln
rKfw)
and
Georgia
Represented by the Mintstry of Regional Development and lnfrastructure
('Recipi€nt.)
lot
EUR 2,000,000.00
. Intcgrated Solid Waste Managsment
(Accompanying Measure: lnstitutional Suppo(
Kutaiei .
and Capacity Building)
(BMZ-No. 2020 61 364)
_--1 , .
tu l_(,
:)
-2preamblo
The basis for this lmplementing Financing Agr€ement
is the Oelegation Agreement
dated December 02, 2013 (the "DelsgaUon Agreemont")
between KM and the
European Union represenled by the Commisslon
of the European Union (the
"Commbsion').
The Recipient rntends to jmplsment an environmentafly
waste management system for the City of Kulaisi
and hygienically sound solid
as welt as the sunounding regions
lrnereli and Racha-Lechkhumi and Kvemo Svan€ti for
proleclion of natural resources, lhe avoidance of
the purpose of contributing to the
environmental pollutjon and the
improvement of public heallh as well as to assign the respective
consutting services to
the lntegratcd Sotid Waste Management Kutslsl project (hereafter
.proiect.).
the
The
present lmplementing Financing Agreement (the 'Agroomont')
which serves lo transfer
dedicated funds for lhe proj€ct,s accompanying measure (e.g.
institutional suppon and
capacity building) to the Recipient made avaitabte by the European
Union through KfW
is part of a Loan Agreement extended by Kfl/V for the above mentioned project
The Project will be implemented by the Solid Wast€ Management
('Proiect lmplomentaflon Unlf) under the oversight of the
Company of Georgia
Ministry of Regional
Development and lnfrastructure of Georgia (.MRD|') Ths projecl will be
fi nancial
carried out with
assistance from the Recipient.
This Agreement is an integral part of the follovying co_financing
sources:
. A loan amounting to up to EUR 20,OOO,OOO.OO made avaitabte by KfW to the
Recipient through a separate loan agreemenl dated 13 .42 . ) 0.4?
. A local contribution by the Georgian side which includes, among others, payment
o[ taxes, Charges and custom duties, the provision ol land (hereafter
the -Local
Contribution') as specified more precisely in the Separate Agreemenl.
The Recipient, the project Imprementation unit and Kfw shaI derermine
the detairs of
lhe Project and the goods and services to be financed from the tinanciar
contribution as
well as lrom the olher co-financing sources by a "Separate Agreement,
On this basis,
KfW and the Recipient hereby enter into lhe foltowing
Agreement:
IL
3
4419r.1
,jlurnt and Puroos€ ol th€ Finenciat fuibulion
,I
(fw shell sxlgnd to the R€cipienl a tinenctal conbibution not orce€ding
EUR 2.000.m0.00
This ,inandal contribution sha not be repsyebt€ untoss othorwhe stputated in
Arlide 4 2
12
Th6 Recipignt shall, in accordenc€ fith the conditons set to(h in Articte 2.
mak€ avarlabte the tinanoat conhbution in lul lo lhe prorect hpt€mentelion
Unil The Recipient shatt ensuro thal the prcject tmplsmentation Unit uses
the
tinancial conlribution erctusivsty tor the EU tinanced ac@mpanying m€asure ot
lhe lntagnt d Solid W.!ta .n.gomeht Kutelsi proisd. The Rec,pient, lhe
Projecl lmplementation Unit and KfW sha dotermin€ tho d€taits ol lhe proiect
and the goods and servicas to be finsncsd from the financiat contibution by a
S€pant Agrsement. In addillon, any other padicutarilies resuhing ftorn lhe
cc'operation botween KtW Bnd lhe EU Commission ln connoction w h the
Projecl will be specilied in th6 Separate Agreement.
t3
The Recipient and KM/ shafl determine in deleil the Locat Contribution to
be
rendered by lho Recipiont jn the Sep€rate
Th6 Rocipient shall
&reement.
render its Local Contribution compleloly and in due Umo. The Recipient shall
lumish to KW ufion request evidenc€ proving lhe measur€s taken lo this end
14
Taxes and other public charges to be bome by lhe Reclpient or th€ projecl
lmplementation unrt and import duties shall not be financed lrom the linancial
c!ntributpn
non-repayabte
mptementaton
ncing of VAT
i)
-422
Prior to lhe llrst dbbu6sm6nt fom the financial conuiblrlion, the Recipi€nt sha
send KrW s cedifi€d t anslation ol ho agro€mont sp€cifiod tn Anicb 2.1 The
agreemont ls subjecl lo prirr approval by Kfi/v
23
Tho channelling of lhe linamiet contribulion sha not constitute any tiabitrty of
rhs Prolscl lmplemenlalion unI to Ktw for paymont obtigations undq this
A9re6menl
Articlo 3
Disbursement
3l
Kl\tr shall disburse th€ tinancial conlribution upon requosl ot the R€cipl€nt, in
6ccordanc6 wilh th€ progross ot th€ Projecl components linanced lrom this
fnancial conldMion The Recipbnt will€mpower the Project tmplemonting Unil
lo enter inlo lhe conlracls implemenling the Prqecl on hs behalf o{ and in its
n6me. By Separale Aoroement, th€ Recipient, th6 Proj€cl lmptementelion Unit
and KIW shalldelermine tho d-6bu6em9nt procedure, in padicutar the evidonce
proving that the rlquesled funds ar6 used lor th6 stiputat€d purpose and the
delails rogarding the role of fte Projoct lmplemenling UnlL
32
KrW shall have the righr to refuse to make disbursements afier December 31,
2018.
33
The firsl dbbursoment under this Agre€menl shalt b€ subject to the condition
precedent that lhe Sepsrsts Agreement has entered into forcs and
effect and
their condnions p.ecedents tot disbursement ere tunbd.
Ktw shatr onty be obtilod to ,rrate dlsDurscments
under this Agreemenl il and
lo lhe eienl that it has sef receiv€d
the @nesponding
funds irom the
Altcl.4
Susoension of Disbursements and Repaym€nl
4.1 XM Da/ pl tLrypd dibu,tc/72 )sa rst
J)
.5-
a)
lh€ Roddgnt hib lo pertom lls obtigatons lo KM/ ro m6ke paymgnts
wfi6n du6,
b)
oblagations under thls Agre€mont, lhe Loan Agre€msnt,
lhe Ssparate
Agrgement or under soparato agr€s,nonts pertinent to
tiese
agroem€nls hav6 be€n breach€d,
th€ Recipi€nt is unebt€ to prov6 f|gt ho disbursed amounts have
a[
b€en used for th6 Etiputated purpose,
d)
a roason lor l€mlnation sn(yor an 6venl of default und€r lhe Loan
Agreomenl or the Sepa6le Agr€emont occurs, whtch alows Kf,/V
to
demand the total o( padiat ropayrnent of its grants or tosn respoctivety
or lo rEvoke the Reclpient,s rilht to demand disbursement,
e)
exlEordinary ckcumstances ens€ lhat prectuds or serioust jeopardize
th€ implomentiation, tr)6 op€ration, or the purpose ot Ihs projoct;
the Commission rBqu€sts KfiA/ to suspend dBbursemenls
bas6d on th€
Oslegation Agr&ment; or
s)
lhe Coanmission lEndsls a racovery ordgr vis-a-vis KW
based on lhe
Oelegetion Agreemenl or tho Delegallon Agreement
ceases lo hav€
elfect or is leminated,
ll any of the siruations specjlied ln AIticto 4.1
b), c), d) or g) has occurred and
has nol boen oliminated wilhin a
F!€riod determined by Kfi/V, which shalt,
ho$€ver, b€ at lsast 30 deys, KfirV may,
a)
in th€ case ot Artile4l b) c,emand the immediate
(,isbursed afiounts;
repayment ot all
b)
in the case ol Mde 4.1 c), dsmand lhe immedBte repalmcnt
c)
in lhe case o[ Artcle 4 1, d), demsnd the rmmedlate r€paym€nt of
o! such
amounts es the Rocipient is unabte to prove to have been us6d tor De
slipulaled purposo:
such
amolnls, on a pro rata basis, that comespond lo lhe amounts reclaimed
by Kfw under tho Loan Agreemonl pertainrng thereto resp€ctivety
+^
-6-
d)
in rh6 cas€ ol Adicte 4.1.g) demand the immediat€ repayment of a
disbursed amounts which the Recipient has not yet bona frde commi(ed
or kansfened to a l€gitimate recipient in a lega y bmding manner Th€
R€cDi€nt shall in lum nc.lud€ or €nsure thal the prolect tmptomgntation
Un will includo inlo all its agroements €ntered into under the proj€ct ,
provisions €nsuring that funds which have not yet been bona fide
cdnmitled o. spenl for purposes ol the Proiect shat, b6 kansfened back
to lhe Recipienl in case ol temnation of the Detegation Agreement
43
ll the Recipi€nl do€s not prompry fun s repaymsnl obllgetions sp€citEd in
Adicle 4 2, il any, th6 Commbsion sha be entiled to take in its own rllht direct
measures agaiosl th6 Recipient, whereby any slch measure shalt be in
eccordanc€ with ihe applicable EU laws and regulations
Article 5
Cosls and Public Charoes
Th€ Rocipisnt shall bear atneros and oth6r pubtic charges sccruing outside the Fed€ral
Republc of Germany in connection wllh lhe conclusjon and orgcution of this
Agreemenl, as well as all t ansler and conversion cosls acaflnng in connection with the
disbu6emont ot lh€ ftnanciet @ntsibuton
A.ticl. 6
Conhactual Slalements and Powor of Reoresentation
61
The Minister of Regional Devetopmont and tnlrastructure and such percons as
dosignated by him or hor to KtW and aulhonsed by spocimen signalures
authenlicated by him Or her shall represonl th6 R€cjpienl in lho ox€culion o, this
Agreem€nt. The power ol repr€sentaljon sha not exptro until ils express
revocalion by lhe rep(esentalive of the Recipient authorised at the lime has
been rec€ived by Kn/v
62
Ah6ndmonls or add6nda io lhb Agr€nent and any nolEes snd st.temonts
delivered by lhe contracting pa ss uM€r this Agreemenl shal be in wrring
Any such nol,c6 or statoment shall have be€n recejyed onc€ ,l has anrved
al
the followng address o/ the conespondng contracling patly
ot at such olhet
)7
-7address of lh€ congsponding conlracting Pady as nolrfl€d to lhe other
conlracling partyl
Ann. oepertment LEd4
Postlach 11 1141
60046 FranHun am Main
Federdl Republic ol Germany
Fax +49 69 7431-2944
For lhe Reopient
G€orgia
Atln Doparlm6nt of lnfrastructure
0evelopment
12 Al. KazbegiAve
0160 Tbilisi, coorgia
FaK +995 32 2510 679
Al.tlcle 7
The Prorecl
71
The Rocipient willitsetl;nd witlensure that lhe projoct tmptementation Unit
wlt
a)
prepare, implem€nt,op€Gte and maintsin lh6 projoct n confonnity
wilh
sound financial and engrneering practices and subslantially in
ac.o.dane wtth ahe P.oiect con@ption agreect uryn between the
Rgciplent, th6 Proj€ct lmplemenlation Unit and KfWl
b)
ensure lhal the Pro,ed lmplementatiofl unit assrgns the prcparaloo 6nd
luDeNir,6n ol drtruclion ol tt€ PioFct to indeognd€nt, quahfled
ro qual$sd
consuhing erEineeE. and ttrc imPlementalion o! he Prolod
,nmsi lh€ Proiecl lmplemootalion L,nit witl in lhis respecl be 6mpov/sred
to acl lor and on behalfof the Recipienli
c)
l)
enswe tttat he Proiect lnoletnentatkn
l anlds lhe C)ntAr,trS l\l lhf"
goods and seMcss to be financed kom lhe linancial contribution upon
pdor intsmationel competitive bdding in tine wih KfW,s guidetnes lor
procurement and assignmenl of consulants as specil]ed in he
Separale Ag.eement; Ihe projecl lmptementalion Unit wi in
this respect
be empowered to actforand on behatf o, the Recipieoti
t)
-8,
d)
ensure lhe fullfinancing orthe pro,ecl
and, upon request of KM, fumish
lo KfW evidence proving that rhe cosrs not paid
contlbutbn are coveredj
e)
s)
h)
make the Locrl Contnbutirn in fultand
in du6 lrm€;
[rom lhis tinancial
;t))
-9The Cornmbsirr, lh€ European Courl ot Aud ors end any olher
@mp€tent Europ€an Community body sha have the right to ssnd thejr
olyn agents lo cafly oul on the spot checks and inspoctions as laic,
down in R€gulation (EC. Er,6tom) No 21OS/1996);
k)
of its own accord Fompfly infom KfW of any and 6lt drcumslances thet
predude or senously jeopardizo lh€ imptemontatrcn, ths operation,
lh6 purposo of th6 project
The Recjpient, the Project hptom€nlstion Unit and KtW shalt d€te.mine
or
th6
delails pertinent to Arli:te 7_1 by Separeto Agr€oment
Article 6
Mrscellaneous Prov6ions
The Recipient she its€ff 6nd wilt ensur€ that the projoct lmpl€montslion
Unit
will ensure lhat th€ pecons whom d entrusls with the pr€paration and
impl€msntatiofl ol the proj6ct, th€ award ol 6ny contract tor the supplies and
serylcas lo b€ I"hanced and with r€qu6rting disburssments of financial
@nhbuton amounts do not d6mand, assume, render, grent, promise orobtain
a plomiso of unlawful payme,il! or oth6. advanlag€s in connoction wilh
lhos€
tasks
Tho Rocipaenl witt ensure lhst the proied tmplemontation lJnit sheu promptjy
mako available to KfW oo demand all inlormalion and documents yrhicfr
rsquiros to fulfil [s obligations lo prevenl money laundering
t
r
financing as well as for th6 conlinuous mooiloring of the business
relalbnship
wilh lhe Poecl tmplemsnlation Unit. which is necessary tor
th|s purpose In
enlenng inlo End imptementing this ,€roolhent he projocl lmptem€nlalion
Und
acts in its own name and for rls own account. With rcgard to
Gernan law or Ihe
law ol he country of incorporetioi of the proiect lmptem€nl€tion
l
I
i
t
r
c
t
F
KM/
and tororism
Unit
a) lh€ Proiecl tmplemenlalion Unit,s own r€sources or lhe amounts investsd
in lhe financing of lhe prcject rvi not b€ ot i icit ongins and, in parlicutar,
this list being non.exhauslive, wil not be linked to drug hafiicking,
conuption, organEed crminal acuvily or t€nodsmi
)1
- 10.
d) lhs Prcject lmptomonhticn Unit wi not be ongsged in ,jnancing teno.ism.
KrW is entitled to
\flith information Agreement as
eftn3nY
of lhis
wer
ll any of lhe p.Dvrsions of this Agreem€nt is invatid, a
r€main unaffected thereby. Any gap resulling
provision coraistent with the purpos€
thoretrom shal be fi 6d by a
of thb &reemenl.
Th€ Recipi6nl rn3y not assign or t-ansf€r, pledge
this Agreemont.
All dispulgs arising olt of or in connection
or morlgage any clatms ,rom
with the present Agreemont shalt be
seltled oxctusively and fins y by an aditraton
lollo ing wilt aW:
oth6r prcvisions shalt
tribunat. ln thrs regard, the
a)
b)
;["iilil"J,lfff"T'r;#":,","ff",,H.':""nkrurramMainrhe
\5
'11'
The l€gal relatftrls establ'shed by this Agrcoment botween KfW and th€
R6cipient shall teminele wllh the end ot the us€fut tire ot the Projecl, but nor
laler then 15 years afl6r th6 signing oI lhis Agreement
in two (2)originals in th€ Englilh bngus$.
Ll-sr
or 1Ibr,,,. Ltv,zors
-A
ry,UA\)
Ev.r
li"rcfcr \
L
Georga
Represented by fre
ars
Minrstry ol Regional Oevolopm€nl and
a
ai,t,ir, io[(
lnfrast uct e
6-r"v,, ?r;*,1
cft..
)'
^ i.3
?'='
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