„საქართველოსა და ევროპის რეკონსტრუქციისა და განვითარების ბანკს შორის სასესხო შეთანხმება (სადახლო-ბაგრატაშენის ხიდის პროექტი)“
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🏛️ კომიტეტები
- საფინანსო-საბიუჯეტო კომიტეტი წამყვანი კომიტეტი
- დარგობრივი ეკონომიკისა და ეკონომიკური პოლიტიკის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- ევროპასთან ინტეგრაციის კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
- საგარეო ურთიერთობათა კომიტეტი კომიტეტი რომლის დასკვნაც სავალდებულოა
📅 დამატებითი ინფორმაცია
ბიუროზე განხილვის თარიღი 2017-02-06
ბიუროს ნომერი 26
📜 ტექსტი
საქართველოს პარლამენტის ბიუროს გადაწყვეტილება ნორმატიული აქტის პროექტის განხილვის პროცედურის დაწყების შესახებ
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Total
1.000.000
6,000.000
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შეთანხმება
EXECuT10N coPY
(Operation Number 4E165)
LOAN ACREEMENT
(Sndllkh10‑Bagratashen BrideC PrOject)
bctwccn
CEORCIA
and
EUROPEAN BANK
FOR RECONSTRUCT10N AND DEVELOPMENT
Dalcd g〔
メ
ィ
θ
/̀
)ゝ
ι
2 ′
ヽαタ
′
た
EXECUT10N COPY
Tヽ 1,:F()「 (()ヽ TFヽ 1ヽ
ARTICLE I - STANDARD TERMS AND CONDTTIONS; DEFINITIONS " "".
-----
iection 1.01. Incorporalion of Sandard Terms ard Conditions "
Section 1.02. De1initions.................
.
icction r.01. lntcrprctation...... .... ..
"
4
'.'4
'"
l0
" 1l
"II
"
'II
Crurency
'
Loan " ' " " '. '..I I
' '"12
Section 2.03. Drawdo$.rts....-.-....-...-. ....
"',.13
III - EXECUTION OF TllE PROJECT...... ... .. .'....'. '"
ARTICLE
----"
"Ii
Covenarls
'
P.ojefl
Affi.mstive
Other
Section 3.01.
."
ll
Unit
"
"
i""ion f.OZ. P.ojecl Implementation
i
-"'l
'
Section 3.03. Prccurement.. ..... .....
14
""" '
Section 3.04. Environmenral and Social Compliancc Covcnlnts 14
Requirements"-"
""
Submission
"
Secrion 3.05. Reponing Frequency and
ARTICLE Il - PRIN-CIPAL TERMS OF THE LOAN ..'."""""
Section 2.01. Amount afld
iection Z.oz. Other Financial Terms ofth€
"
ARTICLE IV‐ ドIヽ ANCIAL
Scction 4 01
lフ
Financial
８
ART1CLE Vt - EFFECTIVENESS...............
８
ART:CLE V― SUSPENS10N:ACCEII:RAT10N
Seltion 5.01. Suspcnsion. .. ..........
Section 5.02. Accclcration of \'loturil)
.....
'
.
iecilon f.ot . Conditions Precedent to Effectiveness "
iecrion 6.02. Conditions Precedcnl lo Commitmcnt of Trarrche 2
" "18
18
'
"" --" "" 1819
' " 1'
i"oion o.o:. Legal Opinion.. ... .. ...
.
Eilcctivc
to
Bccomc
lbr
Failurc
".
""
]e;in;tion
"'
Section 6.04.
９
９
ARTICLE VH‐ MISCELLANEOUS
Section 7.01. No1ices........ .. ...........
SCHEDULE l‐ DESCRIPTION OF THE PROJECT
SCHEDUI E 2‐ CATECORIES AND Dん へWDOWNS
SCHEDUl´ E3‐ ENVIRONMENTAL ANI)SOCIAL ACT10ヽ
PI AN
EXICr「 Ioヽ CoPv
10Aヽ ACREEヽ lENT
ACREEMENT datcd
GEORC.lA(thC・ 3o■ o、 cr)and EUROPEAN BANK FOR RE(ONS rRtl(‐ rlo、
AND DEVELOPMENT(thc・ Bmk'or EBRD)
PREAMBLE
WHEREAS, the Bank has been established to proridc llnancing lbr specilic proiccts lo
foster the rgnsition lo\$ds open markel_oriented economics and to promotc pritatc
and cntrepIcneurial initiativc in lhe Ccntral ard Eastern European counlrics connllittcd
to and applying the plinciples of multiparty democracy, plualism and market
economics:
WHIREAS, the Bo.roNer intends to implement the Projcct &s described in Schedulc I
which is desigrcd lo assist the Borrower in the construclion xnd relalcd cosls ol a
section ofa bridge iocatcd on thc tcrritort oithe Borro\icr irl thc sidukhlo-Br8&lashrn
border crossing \ ilh the Republic of Armenia:
WHEREA& $c Borrowcr has rcqucsted assistance ftom the Bank in financing pan of
lhe Pro.jccl;
WHEREAS, the Project 1Iillbe implemenlcd by the Minislry ofRegional l)eveloPnrcnl
'Prt)i(cl
urd lofrastructure of Georgia ("MRDI") (hereinaier rclirn:rl ttr as lhc
lmplcmcnting Agency"), through the stale .iurisdiclionil inslhution .undcr thc
gore.an"" of MRDI - the Roads DePanment of Gcorgta, oI any lcgal successor
thctcof
WHEREAS, the Ba* has agreed to cxlend s loao to thc Republic of Arm€nia to
fiaance a section of lhe bridgtlocaled on lhe tnilory of the Rcpublic of Armenia and
has signed a loan agreement \\ith thc Republic ol'Arrnenia tlatcd 2li Norcnrhtr 1012'
(iorcrnmenl
WHEREAS, an Agrcement betwecn lhe Go\emmenl of Oeorgia an':l thc
of the Republic of Armenia on rhe coDstruction cf a ncu bridgc ovcr ri\cr Dehcda. al
sadakhlo-Bagratashen border crossing poitls on lhe state border oi Gcorgia and lhe
Republic of Armcnia (an "lntergovcmmenlal Ageement") \\as signed on 24 Dcccmber
2014:
WHaREAS, the Bank has ageed on the basis ot. iruer alia. the tbrcgoing to make a
loarl ao the Borou€r in lhe amouDl of uP 10 ELIR 6,000'000, subjec( m th0 tcrns and
conditions set forth or rctened to in this AgrLemcnt
NOW, THEREFORE, thc partics hcteby agrec as follows:
EXECI]TION COPY
ARTtcLE I - STANDARD TERMS AND coNDlrloNs; DEFlNlTlol{s
1.01, lrcorpor.tior of st.rdsrd TcrE!.nd CoaditioEs
Seciiotr
All of the provisions of thc Rank's Standard Tcrms and Conditions dated
I Drcember 2012 a.e hcrcby iocorDorated ilrio ard $ade apllicable 1() thls ASrtemetlt
with the same lorcc and effect as ifthey $lre lully set lirnh hcrcin. subj!'ct. howevcr' tt)
the tbllol\'ing modillcations (such pro\isions as so moditicd arc hcrcinal'lcr rallcd thc
'shndard TsrmJ aud Conditions")i
(a) The dcfinition of the "Available Amounl" in Scction ?-02 of the Stardard lcrnrs
and Condirions shall, fot Purposcs ofthis Agrtement. he modificd to rcad as lirllorvs:
"・
means so much ofT.anche I and/or'lranchc 2 ofthe
Loan. as the case ma1 be. as shrll nul. fium timc lo
time. have tEen cancelled or drawn do\$ or made
AvaHablC Anlounr'
subjecr to
a conditional or unconditional
Rcimburserncnt Commitment "
(b) The definition of the "Effective Date" in Section 2.02 oI the Shndard Temrs and
Conditions shall, for purposes ofthis Agreemenl, be modilied to reacl as folloNs:
means the darc upon *hich the [.oan.\Efecment
arailablc for
becomes cffccrive and Tranche
$ith
Scction 9.01."
drawdowns in accordancc
""Effectivc Dale"
I
(o) The defilition of"Euro". "ELIR" or "€" in Se'ulion 2 02 olthe Standard Tcrm\ and
iondirions shall, for purposes ofrhrs Agrecntent, be modified to read as [ollo\]s:
""Eum". "EUR" or "€"
means the la\ lirl currencl of thc membcr slatcs ol-
the Eutopeu Union that adopt lhe slnlle cuftenc) in
accordance with the legislarion of lhc European
l.lnion relatitlg to aconornic and mone(an union."
(d) The definitions of "Coercive Practice". "Collusive Praclice". "Co(upt Practicc"
and "Fraudulent Practicc" in Section 2.02 of the Standard Temrs and Conditions shall'
tbr pulpos€s ofthis AgEemeni. he deleted in fieir entiret)'.
(e) Thc definition of the "Las1 Availabilit-Y Date" in Se.tion 2.0? ol-the Standard
iirms and Conditions shall, for the purposcs ofthis Agrrcment' bc modificd to rcad as
follows;
""Last Availability
Ilate" mcans, as applicable' fie Iist Availabilitt Date for
Tranche I ald thi I ast Atitilabilit)- l)alt lor
liarche 2. irs each such date is speciticd in the Loan
Agrcemcnt."
(0 The defrnition of "Prohibhed Practice" in Section 2.02 of $e Strndard Terms and
Conditions shall, for purposes ofthis Agreement. be raodified to read as follo$s:
FXECt'「 10N C()PY
・
・Prohibitcd PractiCC・
means a cocrcive praclice. a collLrlive pnlclicc. a
corrupt practice. a ftaudulenl praclice, a llirurc of
thc Bonk s resourccs. an ohstnrctirc practicc 'rr .r
rheli. Lr cach of these rcrms is definod in thc llank s
Enforcement Policy ond Procedures dal.d
5 November 2015 and as such terms are l'urther
interprcted iD rhe Prohibited Practices Cuidelines for
EBRD Operations daled February 2016 "
(g) The definition of "Refercnce Page" in Scction 2.02 ol thc Standard lcrms and
aonditions shall. for purposes ofthis AEreement. be modified to read as fbllor, sr
""Rel'erence Pagc"
means the display of (i) for Loans denominated in
USD or t- London inicrbank offcred rales of major
banks for deposits in the Loan Currencl dcsignated
as pages LIBOR0I and l,lROR02 on Ihomsor
Reulers scnices (or such othcr pagc as mal rcplacc
pages LlllORol and LIBOR02 oll Thomso0 Rculcrs
services lbr the purfFse of displaling l.ondon
interbanli offered rates lbr deposils ilr dlc l-oan
Cunency). alld (ii) fot Loans denominalcd in Euro.
Lluro-zone inteftank offered rates lor deposils in lhe
Loan Currency dcsignated as pagc IIURIBOROI on
Thomson Reulers services ()r such olher pa8e as
may replace EIJRIROR0I on Thomson Reuters
sen'iccs lbr the pupose of displaling l:uro-zonc
interbank oflered rutes tbr dcposils in (hc l,oan
CurencJ-). "
(h) 'Itc delmition of "TARCET Day' in sectioo 2.02 of the Standard Turms and
ionditions shall. Ibr purposes ofthis Agreemcnt. be modificd lo rerd irs lbllor, s:
""TAROET Dav"
mears any day on which the 1ians-Eurcpean
Automatqd Real-lime Gross Settlcnlcnl [:rpress
Trarsfs system is open for lhe settlemeDl oi
payments in Euro."
(i) Pangraph (a) of Secrion 3.01 (Drall'y'orrru) of tlre Surdard Ierms and Conditions
shall. for purposes ofthis Agreemenl. be modified to read as follor\s:
"(a) Last AvailabiliiY frale
(l) For Tranche l. the Bonouer's right to draw down frorn thc Available
Amount shall become effective on the Effective Dste and shall tcrminatc on
-lianche
l; and
the Last Availability Daie for
(2) Fot Tralche 2' the Borro\rBr's righl to drau down lionr lhc A|ailable
Amount shall becomc cffcctive on the ElTcctiYe Dale and shJll lcrrllinalc on
the Lsst Arailobility Date for Tranchc 2r
Eヽ ECuT10ヽ
cOPY
or such latcr datc as lhe Bank may cstablish aicr Bceipt ofa prior writtcn request from
the Bonow€r. Th. Dank shall promptly notiry thc Bortower ofan]'such latcr datc. "
letms and ( onrlititrns
0) Paraglaph (b) of Section l.0l (D/4r'dourr) of the Standard
as follo\ s:
shall, for purposes oflhis Agreement. be modificd lo read
"(b) Applicstions for Drawdowns
(i) In oider to malie a Drasdorm. a drawdo\n application shall be
submiucd to thc Bank by lhc Dorro$'ers Aulhoriscd RcprcscntJlive or a
person designated by thc Bonow.r's Authoriscd llcpressnlatile. l' ch
dra$'do*l application submircd shall be in accordance lvith- and in the
fonn prcscribed by. the EBRD Disbu.s€ment Hardbook and delivered to the
Baok at least fifteen (15) Business Days prior to $e Proposed value dale oI
the Drawdol{n. Each drawdo*n aPplicatioD shall be in substance
satisfaclory to the Bant, shall speci8 the respective Tranche of thc Loan
(Tranche i or Tranche 2) trom whictr the drawdown is reqrresteti. and shall
he accompanie<l hr such,locunrcnts and othcr cvidcncB sufficicnt in lirnn
(o t[e amouflt
and subsG[cc o sa(sf] the Bank that thc Bono\\c( is entitled
of lhc Dra$dotrn and thal thc amount of the Dra$dol\'n will bc uscd
exclusively fbr thc purpos€s specificd in thE Loan Agrecmcnt.
(ii) ExoePt for the last Draudown or unless the Bank shall othcrwisc
agrce. I)rawdowns shall be miule in amounls oi not less than the l\'linimunl
lrrawdown Amount. "
(k) Paragraph (a) of Seclion 104 (/,rlercsr) of the Standard Terns and Condiliu)s
strall, for purposes ofrhis Ageement. be modified to read as lollous:
"(a) lf the Loan is subject to o varioble lnterest R0te then. fbr purposes of
Section LM(b) below, the Relevart Market lnlerest Rate shall be:
(i) for tle first Interest Periq.l of each Drawdown. the offertd ratc per
annum for deposis in the Loan Currency that appears on ihc RetLrcnc' Page
timc
as of I l:00 a.m.. as applicable. l.ondon time (lor USD or !) or Brusscls
\\hich
peiod
(for Iluro), on the relivant lnterest Delcrmination Dalc lor thc
on thc
equals the duEtion of such lntere$ Period (or if no such rate appears
bul
Period
ofsuch
lnterest
duration
Reference Pagc for a period equd to lhe
pcriod
a
rates ("Refere;ce Rates") do appear on the Reference PaBe both for
rhat is shorter lhan and fbr a Pc.iod rhal is longer lhan thc durati()n oi such
Period. $e Relevanl luarket lnlcrcst Rale shall bc the ralr (rounded
lnterest
upwud. ifnccessary. to four decimal placcs) that tould bc applicablc lol a
rc 6e duralion of such lntcrest Period as deteminecl throtrgh
p";u,l
"q*l
ihe use oi straighl-line ilterpolation by reference to lhe Rel;rcncr Rate thal
Rcference Page for the period that is thc next shons, in
appcars on
Iingth than thc duration of such Intcrest Period and thc Reference Rate thal
ap;ars orl the Refere[cc Page for the period that is the ncxt lc'ngcr in lenglh
fii
than the duration ol'such lntercal Pcriodx and
6
EXECUT10N COPヽ ′
(ii) fqr each subs€quent Inlercst Period. the offered rate pel annum for
dcposirs in the Loar! Curency which aPpears on $e Reference PaSe as of
I I i00 a.m., as apPlicable. London time (for USD or f) or Brussels time (li)r
Euro), on thc rclcvanl Inlere;t Determination Datc for the pcriod which is
clos€sl to the dumtion ofsuch lntere* Period 1or' iitwo pcrirxis are equalll'
close to the duration of such Intercst Period. the average ofthe t\r'o relevant
ratcs);
provided thal:
(l) it'. for arly reason. the Relevant lvlad(et lnteresl Rtlte cannot be
determined al such linle by reLrenc€ to the Ret'crence Pa8e, the
Rclevant lualket Interest Rale shall be the rate Per annum which lhc
Bank determines lo be $e aritmetic mean (roundcd up\\ard. if
necessary, to fou! deci$al places) of the offered rates per annum for
dePosils in the Losn Cunsocy in an amouDt comparable to the Portion
of the toan subject to a Vaiable lntetest Rate scheduled to he
outstanding during the relevant Intercs! Pcriod for a periotl equal t"
as
such Interest Period which are quoted to leading banks
IJSD
or
[)
or
I]uro-zonc
applicablc. lhc t-ondon inlerbank markcl ifor
interbank mtrlsl (tbr Euro) as advised to thc Bank by at lcast two
major banks active in. as applicable. the London intcrbank miuket (Ior
USD or f) or Euro-zone inle*ank market (for Euro) selecled h-v the
in
Bank; and
(2) if pu$uanl to thc terms specified in this Scclion l'o'l(al thc Rclc\ anr
Mirket Inreresl Ratc $ould bc below zcro lhc R'llvanl I'lirkcl
lnterest Rlte will bc deemed to be zero'"
(l) Scctioo 3.04 (/nlererl) of rhe Standard Terms aod Conditions shall for purposes
oi this egreenenr. be modified to includc a new Section 3 04(e) which shall read
as
follows:
"(e) lf an evenl sPecified in Section 7.06 of the Standard lemls and Condilions
to Pl)
Rate
lnlerest
inlcresl on lhe portion of thc Loun. il any, that is subject to a Fixed
nol at such Fixed lnterest Rate but inslead at a Variable Interest Rale."
has occured and is cominuinB. the Bank ma) elect to rcquire lhc Borro\\'cr
(m) Section 3.05(Con it e Chorge ontl FrcnbEnd Commissionl ofthe Standard
read as
Terms and Conclitions shall, for pulposes of fiis Agreemenl' be modified to
follows:
"(0) Thc Borrowcr shall pal to the llank a Commilment Chargc al the lale
any
specified in the Loan Agrecmen! payable on the Avarlable Amounl fr[rs
is
ool
and
Commitmenl
amount of the Loan that is subject lo a Reimbursement
of
vel dmwn down. Drovided ftal the Commimenl Charge paysble on the amounl
'the
toan subject io an unconditional Reimbursement Commitmcnt shall be 0'596
pcr annum gieatcr than lhe rale ofthe Commitmenl Charge sPecitied in the I-oan
Agrecment. The Commitmcnt Charge shall accrue:
EXECじ T:ON COPV
(l ) for'lraoche I' from the date sixt) (60) days aiis! thedatcofthc Loan
Agrecmcor and
(2) for Trdnchc 2. from thc datc scven (7) days after the !3$'s
notificarion to tlrc Bonounr whercby thc Dank shall conlirm that conditions
listed in Scction 602 havc bccn l'ultillcd and ]ranchc 2 is arailable lbr
drawdownq and
(3) in the case ofCommiunenl Cltarye payable on th' aDlount ofthc l'oan
suijcct to an uncondirional Reimbursemcnt Commitmert fton1 thc date
isswnce of such unconditional Rcimburscmcnt Commimenti
of
same
provided that the Commihent Charge shall accrue and be calculaled on the
(
palirhlc
shall hc
Lasis as interest undcr Scclion :1. (bIii) The Connrilnrsnl hargc
I and
ol-Trdnch'
l()
cach
with
resPect
on *.h Int..est Payment Dale. as applicahlc
the
on
urrche Z fencn tt ough no iotercst mi1'be payablc on such dalc) commtnting
rnd (ii)
Paymeni Dare (i) follorvine rhe Effcctire Datc for lranche l'
fi;;
Bant's noticaiion !o thc Borror er whercby the Bank shall
i"ff"*i"gG
-,fr" ai " "i,he
2 is
condilions listed in Scction 6.02 havc becn lirllilled and'lranchc
arailuble tbr drawdonns. for'l'ranche 2.
i
i;Gi
"""ni
pa) to lhe Banl a Fnrnt-end ( ommis:irrn equal lo one
(a)
''' The Borrower shall
ol'
p"i a"n, (1%) (or such otler arnouol sJrcified in thc l-oan Alrcclrenl)
respcctively. Tranchc I and Tranche 2'
in the Losn Ageemenl' the Bank sholl' on
(b)
- Except as o0erwise pmrided
withdraw ftom the Available Amounl on
behaifofrhe Borrower.
(i) fie E{Ieclive Date. or seven (7) days aftcr thu Effedivs Date for
Tnncht l; and
the llarrk's
(ii) on a date which is xrcn (7) days aRer the-date,of(onfiml
that
notification to (he BoEower uhcreby the Bank shall
franchc 2 is
conditions listcd in Section 6 02 have been fulfilled and
available for dmwdo\ws lbr Ttsnche 2
(iii) aod pay to ilsell the anlounl ol the Front-end Commission pa)ahle
puBuant to Sec(ion J.05(b).
to pay the
(c) Irl the eve fial the Borrower oPls under the Loan Agrecment( ommission
FronFend Commission our of irs owl resoulces' the Front'enJ
Effecli\€ Date
shall b€ due rnd payable (i) within seveo (7) days after the
ioi T.-"t c tl a"i (iD seven (?) da)s affer the date trf thc Bank's
that cotxltttons
notification to the BonotrBr whereby lhe BanI shall tonlimr
rrrartahle lirr
listed in Section 6.02 have hcen fultilled and lranche i'
drawdowns for Tranchc 2'"
I
{nr PalagaDh (a) of Section 1.0? Pt?24,.'r I of lhe Sundard crms and ( ondiliorls
(
strdt, for p-urposes of this Agrc€ment. be modified ro rcad
I
as follorvs:
EXICUT10N COPY
"(!) fhe Borrowet may. on any Interest Paymc Daie. prepa!' all or pafl of the
principal amoutlt of the Loan drawl doun and not rcpaid, logether wilh all
o""ru"d *d unpaid imerest and Charges thereon' on not less than rhiny (30)
Business Days, prior wri:ten ootice to the Bank' which notice shall be inevocable
aod bilding on the Boltower and shall specify the relevant Tranche in respccl of
which the prepayment shall be made."
(o) Patagnph (txiii) of Section 1.08 (Cqncetlotionl of lhe Staodard Tcrms and
Conditiona shall, for purfios€s ofthis Agreement, be modilied to read as lollowsl
"(iii) the amounl cancelled shall be applied pro-rata to tle scvcral maluritics of
'l
the principal amount of the relevanl ranche set fonh in ihc amortisntion
scheiule ro the Loa[ ASreerncm snd fslling due aticr lhe datc of such
cancellation. "
(p) Paragraph (a)(iii) of Scction 3.09 (Dehuh lntere:t\ of lhe Stand:rrd 'lernrs and
donditionsihalt, for purposcs ofthis Agrccmcnt. be modilled lo rcad as ftrllowsr
"(iiir the intercsl mte per a'lnum ollered in. as applicablc. the London inlerbank
lhe
market (for USD or i) or the Euro-zone interbank malket (for Luro)' on
an
of
O"forlr int..est Delermination Datc for a deposit in the l-oa' Currcncy
amou{ comPanblc to the orerdue amoull Ior a pcriod cqual to the rel'vant
rale
Delault Interes Pcriod or' if a Market Disruption Evcnt ltas occurred' tllc
which expresses as I percentage ralc pcr annum lhe cosl to lhc Bank of funding
(or ilt lhe oPlion
thc l-oan from rvhatcrcr soLrrcc lhe Bank may reascnabll sclecl
that il lhe
pr'']\id!d
oi rhe Uanli. rtrc Rcle\dnl \'larkrl lntcrc\ Rule. if'a\oilublc).
i.,a purr*n, lo this sub-para8raph (iii) \Yould be bclo$ zero' the rale rvill bc
de€med to be zero."
io) Parasaoh (bX2) of Scction 3 10 (Uawiay'ing Cortr) of thc Standard'lenrs and
Londitions-shall for purposcs ofthis Agtcemcnl, bc modificd to rcad as folloss:
is acccleraled
or
pursuant to Scction 7.06 or olhcr\tisc b!'LoDrcs dre Pri(rr !o ils slrle(l lll:lluril!
tr' a Varinblc l[tcrtsl Ralt ptlrsuitlrl l{) Stctioll ]'0{(t) oi thc
"anJ- poflion of rhe l.oan uhich is subiccl to a Fixed lnteresl Rate
ir".*l". .uti".,
Staldard Terms and Conditions: or".
Ir) Paracraoh (aYl XB) of Serrion l.ll (],!arke' DisruPtion) of the Standard Terms
and Cona;Jons shatt, for purpos€s of fiis Agreemcnt' be modified to resd
as follows:
"(B) the mte. as notified b)'fhc Bank to lhc Boroucr as soon as practicable
lnlcresl
in ar;- e"ent b€fore interest is due to be paid tn respcct ol lhc rele\,ilnl
and
lhe l]:rnk of
Period. whlch expresscs as a percenragc rale per cnnum th!'cost to
selcct lor' al lhr
funding the Loan trom wharerer souce rhe Bank ma-"- rcasonablj
prolidcd rhat
oDtion ofthe Bank' lhe Relevanr Ma*et Inteiest Rate ifavailable)'
*'ill bc
ro this sub-paragraph (B) would be below zero' fte ratc
iirh. ,"r.
deemed to be zero; aod'
p*.u-l
り
EXECUl10N COPY
G) Pangraph (bXiii) ofSection 8.04 (Dirprr? tres.,lul,..rrr) ofthe Standard-fcrms and
ConditioN shall, for purposcs ofthis A$cement. bc modificd to rcad as follo$ s:
"(iii) Where the Secrcury-Ceneral of thc Permanent Coun of Arbitration is x,
appoint an arbirator. the Secrelary-Geneml ofthe Permancnl Courl trl Arbitration
shall bc at libcrty to clrcose any peron he/shc regards as suitablc lo act as
arbitmtor pursuaot to Aiicles 9.2 andor 9.3 of the IJNCITRAL Arbitration
Rules."
Srctionl.02. Delinltions
Wherever used in this Agrcement (including thc Pretrmblc and SchedLrles). unless
the Prearrlrlc
stalcd othcrwis€ or the contexl othcru'isc requitts. lhc lerms delined
thc Standard
defincd
in
giren
tcrms
mcanings
to
thenl
lhercin.thc
lhc
havc
rcspcctivc
and lhe
givcn
to
lhcm
therein
Tcrms and Conditions havc lhe rcsPeclivc mcanings
il
lbllowirg tcrms havc the following meanings:
'Bonowet's Authorised
Rcpresentatire'
means the Minister of Finance of thc Borro$er or aly
other pctson as thc Minister of finanu€ maI dcsignalc irl
wriling in accoldance wilh the proccJ[rc sel out in thc
EBRD Disburscment Handkxrk.
"Designalcd I'erformance
Requircnrenls"
mcans Performance Requiremenls I through 8.ind l0 (or,
as the context may require, any one of such Performance
Requircmcnts) of thc Performance Requircmcnls daled
\,lay 2014 and rtatcd to thc Dunk's fnrironmcntal an.l
Social Polic)- dalcd Ya) 2011.
"En!ironmenial and
Social Aciion Plan"
mgsos the plan ofenvironmennl ard social mitiSation and
improvemeot measues a copy of which is attached hereto
as Schedulc 3, as such plar ma) be amended from time lo
time with the prior u'ritten consenl of fie Bank in
accordance uith Section 1.0{(c)
"Environmcntal and
Social Larv"
mcaru any applicablc law or rcgulation Nhich rcls(cs to:
(a) poltution or protertion of the environment. including
relaled la$5 or regulalio$ relatirg to parlicipation in
decision-makinS;
(b) labour and cmpb! ment conditions:
(c) uccupational health and safety:
(d) public hcalth, safay and security;
1,ヽ LCじ 『10ヽ
C OPY
(c) indigenouspeoplesr
(0 cultural heritage; or
(g) resettlement or economic displacemcnt ofpcrsons
"Lnvironmental and Social
IUatter"
msatls any matler thai is the sub.iect ofany Environmental
Desiglated Performance
Social Law,
any
and
Requirement or the Enliircnmenlal and Social Action Plan'
"ljiscal Ycar"
'PIr.''
means the Bortower's fiscal )ear commencing on I
January ofeach year.
mcans the project inplcm.ntation unit refefied to itt
Scction 3.02.
Scctiont.03. lnl.rPtrtraion
shall-
ln this Agrcement, a refer€nce to a ry€cificd Anicle' se(lion or SehedLrlerefercrlcr" to lhat
siared orherwise in lhis Ag€€mcnl' be construed as a
"*aaor_*hara
specifi.d Anicle or Sc.tion of. or Schedule to' lhis Agrccmenl'
,A,RTICLE II - PRJNCIPAL TERMS OF THT LOAN
Sectio! 2,01. AEo[nt .Dd CurrcncY
(a) Thc Bank &gc.s to lend to the BoEower, on tlc terms and conditions sei forth or
i.ien d to in thitlgr.ement. thc amount ofup lo EUR 6 000'000'
(b) The Loan shallconsist ol':
(l) 'tranche I in the o$ount ofup to EUR 5'0v00'0001and
(2) Tranchc 2 in the amount of up to Et.iR l '000'000'
Seciior 2.02. Oahcr Finrncirl Temls of lhe Lom
(a) The Minimum Drawdo\\'n Amount shall be EUR 100'000'
(b) The Minimum PrcPayment Amount shall b€ EUR 500'000'
(c) Thc Minimum Cancellation Amoutrt shall be EUR 500'000'
(d) The lntercst Pament Datcs shall be l0 \'la!'and J0 \ovcmbcr ofcach :-car'
ll
EXECUT10N COPY
(e)
Borowcr shall repay Tranchc I in l\ cnty lbur (24) cquul (or as ntarly
' ' (l) The
equal * possiblc) semi-annual instalments on lnterest Poyment Dates $ith the
lusr f.oan Repayment Date for Tranche I being the Imerest Paymenr Dale I'alling
on or immediarely aftet the third annivcrsarl' of this Agreement-
(2) Thc Bonower shall repay Tranchc 2 in t\ cnt)' four (24) cqual (or asrearll'
$c
cqual as possiblc) s€mi-srDuol instalme s on lnlcrest Ps,ment Datcs $ith
fiist Loan Repayment Date for'lranche 2 being the lnleresl Paymenl Date-t'allirg
on or immediatily a{ier the third amirersary ofthe date ofthe Bank's notification
to rhe Bonower whereby the Bank shall confirm rhat all conditions lisicd in
lor
Section 6.02 ofthii A$eement havc been fulfilled and Traochc 2 is aYailablc
drar*downs for Tranche 2.
(l) Notwithstanding the forcgoing' in the eveot that (i) the Borrowei docs not
be'
draw down the entire-amouot of TBnche I and/or Tranche 2' as thc ca'sc lnay
(iil
(e),-and
02
2
prior to thc lirst Loan Repayment Date sp€cified in this Section
'thc
ftc
Bank extends the Lasiavailabiliry Date for Traoche I and/or Tranche 2' iL\
rhe
casc may be, specilied in Seclion 2.02 (0 b€low to a date which falls affer
of
the
amount
lhen
resDecrivc firs Lan Rcpaymcnt Dale for the relevanl Tranche'
he
ao*ao*n made on or after the lirsl Loarr Rcpaymenl Dates shall
l)ales
allocated for repayment in equal amounts to lhe several l'oan Rcnttlmenl
(wilh
the
iranchc uhich fall aftcr lhc date oi such dra\do\{
t
ilrr
so allocalcd as necessary so as to aohievc !\'hole
O-f. Jjuslng the smounts
-the
Blnk shall' liom trme to time' nolify thc Boro\tcr of
in oih
"u."1.
such allocations.
"r.i
ii" f."-i
nui*"
(f) Thc Last Availability Dale both. Tranche I and Tranchc ?' shall bc the date which
in its
Rank nray
is &c third anniversa4' oi this Agcemcnt. or such lalcr date that rhe
discretion estoblish and notif) lo lhc BotroNcr'
(g) The trte ofthe Commitment Charge shall be 0 596 per annum'
lntcrcst Ratc Notwithstanding the fore8oing'
O) The Loan is subj€ct to I Varisblepaying
inleresl at a Vsriable lnlerest Ralc on all
iti So;*u. r"y,
;n alternative to
""
lhen outstandin8. elect to pay interest at^a rix-ed lnleresl Rate
portion
f-oan
ofifr.
or ari
l'04(c) ofthe Standard lerms
on such ponion of ttre [-oan in accordance $'ilh Seclion
ood Conditions.
Section2.03. I)rrwdowrs
dccordance Nilh
The Availablc Amount may bg drawn dorn ftom time to timc in
lhc Barlk jo J[rccj'
dre Drovisions of Schedule 2 lo financc ( I ) cxpendltures msde {or' tf
a #r"O.f i" *tp"., of the rl'asonable cost of goods nor\s ond {cr\icc:' rcquircr'l lor
dle Projecr- and (21 the Fronl'end Commission'
l2
Eヽ ECi T10N COPY
ARTICLE TII . EXECLITION OT THf, PROJECT
3.01. Other Alliinrlive Proj..t Coven.na!
Sectioo
ln addition to lhe general undenakings sel forth in Anicle lV oi the SlaDdard
Temls and Conditions, unless tlte Bank otheruist agr*s:
(a) thc Borro*€r shall ts*c all actions ncccssar)'lo provide dcqualc funds and other
resowces, iDcluding huma! t€souces, fo. the completio[ of the Project;
(b) rhe Bonower via the Project Implemen(ing Agency shall apply fte procecds ofthe
i-oan exclusively to the implcmcntation ofthe Project in accotdance with Schcdule
l:
(c) the Borrowet via the Project lmplcmenting Agcncy shall conduct thc-ltojt'cl with
and
due diligence and efftciency, in accotdance uith souod engineering' financial
for
the
business-practices. in compliance uith atl applicable laws and with due rcgard
*uironrn'.nt. health ard safely and in accordance with acccphble intcnulional
stalldards and praclices; altd
(d) the Bono\{et shall. and shall causc the Ptoject Implcmertin8 Agenc-r to' ctlsure
itnt tt" r"l"tunt depanment(s) oithe Projecl Implemcnting Agenq) ovcrscs thc olerall
Project implementation and management with due diligencc and cllicrencl'
Scctloo 3.02. Ptojccl lmplcm.nr.tior Ullt
ln order to coordinate, matrage, monitor 8nd evaluate all ospccts of Proi€cl
for the Proiect'
imDlement.lion. includine the proculement of goods. uorks and sen ices
sorro"., shall caise. unless othcnrise agrccd \ ith lhc Bant rhc Projc(l
l.plememins Agency ro designate and at all tirnes duriDg exccuiion of thc Prolecl
pril*i irilementation unit *iIh adequale .esources and sujlahl)'qtnlitied
"
personnel, undcr terms of leference acceptable (o rhe Bank
ii.'
"rir*
Sectlon3'03. Procurement
For purposes of Scction '1.01 of thc Standard
'[erms and Conditions' thc t'ollorring
prorisions rtatt. excepl as the Bank olhcrwise agrees' govem procurenlent o[ Eoods'
ofthe
ilorks and senices requircd for (he Projecl and to be financed oul oflhc p'occ'c{s
Loan:
(a) Goods, works ard scrvices (other than consultsnts seniccs rvhich are includcd
within Section 3.03(c)) shall be proculei through open tendering
(b) For puposes of Section 3.Ol(a). (he pr(xedurcs lbr oPcn lendering arc scl out in
Chapter 3 ofthe EBRD Pr<rcurcnrent Rules
Projecl
ic) CoBultaots to b€ emplo!'ed by thc Borrower to assist in c.llrying out lhe
lhe EBRD
,iirr u t f."t.a in accordanci wit} thc procedurcs set oul in Chapter -5 of
Procuement Rules.
13
EXECtir'oN coPV
(d) All contracts shall be subject to lhe rcliew p.ocedures sel oul in thc I';BRI)
iiocurement Rules and shall be subject io prior review hv the Bank
S@tion 3.0,1. Etrvlroo6eot l and So.i.l CoEPllrnce CoveD'ntr
ol
Without timiting tf,c gencmlit-v ofsectioru 4-0?(a). 4'04(a)(iii)' and 5 02(cXiii)
agrees:
Bonk
othcnrisc
thc Standard Terms and Co[ditions, and unless t]re
(a) ttxccpt as othen'ise specified irr the Environmcntal irnd Social Acliolr Plan lhc
cdfiJ
llorro*er shall causc thc Project lmplemeniing AScncy lo cause any conllactor lo_
Rcquirements'
Performance
out the Projccl in accordancc tith thc Designatcd
iruironln"ntif and Social Laws 8nd all relevanl environrncntal petmits' licenccs'
certilicates and approvalsi
rhc Borrower shall caust lhc P(l.jccl
(b) Without limiting
-to the foregoing.
rnd
irrf".""ii"* Agencl diligemty- imilcnrc r and adhere to thc Fn\ ironnr('rttal
t\ith lhc
ili*i n.ii"i pr,i. -i monitoi thc tmpiemcnLrtion of such plan in accordarlcc
monitoring provisions conraincd in such plan.
(c) llre Bonower and the Bank may fiom time to timc a$ee 1() amcnd theof
Lnrironlnantof altd Social Action Plan in rcsponx to chaages in the ttrcumstances
,fr. p.i*t o, ,t" Bortower. unforeseen erens and the results of monilorinS' lncludin!
the rcsrilrs ofany audit. wilhout limilin8 thc generalit)'ofthe foregoinS'
$as tlol
(l) ifthere is atll adrerx cnvironmcnhl or social impacl or issuc thal
Plan cithct'
ini"*"n by n, .u,rt"ntplated in the Fln!inrnrrcntal antl Social Actiorr
c[tirclY ot as to its seterity.
(2) if any impacl itigalion measure set out in the En\ironmental and Social
soclol
iltion pl- is not sufliiienl lo eliminale or reduce ony enfironmcntol or
impacl ro the level contemplated by lhe relcvnnl l)esi8lated Pcrlbnnarlcc
iii"i.".."" within the time 66s1s 5et out in the En'ironmenlal and so(ial
Action PlarL or
(3) if aoy muterial non-complialce with (he Environmental and Soci&l Aclion
an
ilan or with any Entironmental and Social Law has been identilied b,v
inspectiol fiom any rcgulatory or enforcencnt authorit] or h! any othcr audil'
o[ thc
such
Plan
Aclion
Bar*. derclop alrd incorporate into thc Environmcntal and Social
additional or revised mitigprion measures as may be ncccssary lo achicvc compliancc
wilh thc Designalcd Performance Requirements. in each case in o manner satisi'actory to
the Bonower shall, as soon as rcasonably pmclicable and subject lo thc consenl
tlre 3ank.
Seclion 3.05' RePortiDg Frcqueocy strd Submissior Requircmerts
(a) Comrlenchg ftom tlre Effecrive Dare' u$ril rhe full amou of the l-oan has been
iepaid or cancellc,l. the Bono$cr shall cause fte Pro.iecl InlplcmenlinS '\gcncy
11
to
EXECU:10N COPV
In
submit to lhe Baik aolrual rcPorts on Environmental and Social Malters arising
r'rl'lhc luar hcirrg
.f"ri- to lft" Bonower or the Project within 90 dals after the endspecillc
matlcrs:
rclrmd on. Such refrons shall include informaiion on the follo\\'in8
(l) information on compliance by the Projcct.lmplemcnting A-gcncy, with the
ijoign;il P"rt'o*-re icquiremint" 8s described io sectiofl 3 04(&) ond the
implimenlation ofthe Environmental and Social Acrion Plani
thc
(2) information on how thc Pro.ject tmpleNenting Agett';y has $onitorcd
lhc
comoliance *ith rhe Designaied Performance ReqlircnlL'ns ind
ft'I lhu Pr(rj((t
irri""..*rf anrj Sociul ActiJn Plan b) ur) contnctor ettgrS'J
rhc
errntruet.r.
;; ;;;r..*y o[ any matcrial nun'tn',piin"" b1 srrch and Socialrvith
Aition
6"tig"";J i".ib,.-cc Requircmenrs and the Environmcntal
Planind ofany mcasurcs takc[ to remedy such non-compliance;
(3) infotmarion on implcmentadon ol the stakeholder engagcmcnt plan rcquired
L, oari-o,aa Pertormance Requlrcment l0 rncludinS a summa4 oi an1'
grier ancis receited
-d how such gric\allces Nerc resolled'
({) inlbrmatirnr on compliance h1 rhe Project lrnJ'lcmelrting Agcntl $ith
Lti"itr" .","i
i*ial iax' in relati'rn to thc Ptojer:t rncluding a 'lcs'riptiun
"ta
pro""e,ling.
order or invcstigation commcnccd or lhrcalcncd against
Ii*"
"loim.
for thc Proiecr' lhe resuhs
ti"-*;;;,'il; t*"-of any Aurhorisation requiredaurhorilv
of
any
Ji *y'i*p".ti* canied out by 3n!' regllalory
:olalron
rcrion or fine relaling
uipf,J,Ui. rl*t. *grfadons or srandarit and an)' remcdial
rnd othL'r
to such violation. a summsuJ of an!' matcrisl notlcc repL)n
lhc
Pr('ltcl
on Envirorunenlal and Social Matters relaring rc
"Lrrr.*i"urion
to irn)- rcgul or) ruthuril)- snd
;;i;J ay thc Prcject lmplemenlinB Agenu)
lor ao!
anv other circumsunccs giving rilc t(t lidhrlil] o[ lhc Rorft'$cr
Environmental alld Social li'tancr;
the
(5) information ot occupaiional health ard safet)' managemenl and
ralcs of
i"'"rp"""J- rt"a,l and safet,t record of the Ptoject' includingorthcmi(igatirc
and near-misses' an-v prcrenlive
,r"ii"ntt,
-mcasur", fnrt lime inciden$
rt'rfi trlirrirrg
rok., o, plonncrl b1 tht Projcct lmplcmcrtling' Agqrrr! an\
trr
on oa"uputionut health anrj safrt;: and an1 tnher iniliillivcs. rn,rclation
or
;"";;fu hcatl and satety msnagement which hare bcen imPlcnrcntcd
plarned by thc Project Implementing Agency;
(6) a summary of any change in Envitonmenlal and Social La$s rvhich may
have a material effect oD the Projectl
(7) copies ofany informstion on Lnvironmental and Social Maltcrs pcriodicall!
iu'bmitte<t uy the nono$er to its shareholders or thc general Public:
and
(b) Commencing from thc Effective Datc. fie Bonower shall cause thc Proitct
lt' it\ s(ction
i.of.i.i ing Aglncl ro submit lhe periodic Projcct rcpons relincd
I oii"iii"f ,i,ft. S"irdard Terms and Conditions scmi-annuall)- wrthirr l0 Ja)s ali('r
*" pcriod being rcponcd on. until thc Project has hcen complctcd Such
irr. iii
"i
reports shall include thc follo*ing specilic tcaturcs:
EXECt'T10N COPV
(l) The following gca?r8l infonnation:
(A) lhe physical progress accornplished in the iniplcmcntation ol lhc
Projed ro Ihe dare ofrePort and during lhe reponing period:
(B) actuat or cxp€cted ditlicultics or dclo)s in thc imDlemenialioo of $c
Project and their effecl on the implementation sch€dul9' oDd the sclual steps
takeo o! plantrcd to overcome the difficulties and avoid delays:
(C) expected changes in the completion date ofthe Projectl
(D) key personnel changes in the staff of thc IlU. thc consultanls or lho
contlactols;
(E) nattrrs that may atlecl lhe cost of thc Pmject: snd
(F) any dcveloPmenl or aclivity likely to affecl the economic viabilitv of
any Pan ofthe Project.
incr'rrcd.under
(2) Financial slatemens shoring derails of the exl'enditures
q'ith
each Part of the Projecl and the DrawdoMls' log€thel
a statement showingi
(A) original cost cstimalesi
(B) revised cost estimatcs, ifany, with rcasons for changes:
(C) original cstimated expcnditu.es and actual cxf'cnditurrs lo dotei
(D) Easons for variations ol actual exJrndilures tLl date lronr original
cstimatcd cxpendilucs to date: and
(E) estimaled expcnditures for the rernaining quaners ofthe year'
(c) lmmediatcly upon the occurrcnce of any incidcnl or accident rclating lo thcor
which has or is likely to havc a signilicant adverse ellcct on lhe cnvironment
iioject
-public
or occupational hcohh or ssl'cty. the Boror'\cr shall. causc 1ic. Pmjcct
on
noticc
Impicmenting Agency 1o inform the Bank and promptly thcrcafter givc thc llank
tfro*i rpeci-fying rt nature of such incident or accidem and an) steps the Borro\r'cr is
"
uking ro'remedy the samc.' ithout limiting the Eenerality of the foregoin8.
(l) an incidenl or accident rclates to th. Projecl if it occ un; on an! ite used for
s
ih; Projecl or, ifit is cauxd by l-acilities. cquipment. Iehiclcs or vesscls used for
!n(l
or rclating ro the Project (whethcr or nin being used on uny site ol the Proicct
whethcr or not being used by aurhorised ot uauthorised pcrsons);
(2) an incident or accident is considcred to havc a signiticant advcrsc cllect on
the €nvironment ot oo public or occupetional health or safety il':
(A)
any applicable law requires notification of such incident or occident
to any goverflrncntal aulhoritY,
０
´
EXECI]TION COPY
(B)
such incidenl or accident involves fataliry of any pcrson
or nol $rch p6son is €t$ployed by rhe BorrovJer)'
(whether
(C)
morc tham one Person (uhethe' ot nol su'h Pcrsons.arc emPloyqd
or
by the Borro\rer) h&s rcceived serious injury requiring huspilali'irlion
such incident or accident has become' or is likely to tEcome'
puillc knowtcdge whcttrcr tkough mcdia coverage or olherwisc'
(D)
prompth
rLll The Bonower shall procurc that thc Projecl Implemcnting AgeN]'shall
publtc dirccled
prorcst by workersor mcmtrcrs of$c
mighl havc a Inaterial ad\crsc cllcct
'r'hich
has beconre' or is likelv to beconre puhlic
ot
"rtitrt
such
,f*ugr, media covcrage ot otheo'ise within ten days followilg ary
),"lto ,1" ii-r
,r,.ll,"o'.'"' oi,ri. r'oj"i
liiiil'"rli'iiit "i-rlsignificanr
ilililil;il;ltn:".t
frro*LJg"
-B.".wer
shall
shall frocurc rhat the Proj'ct Implementittg Agencv
;;fi;u6* ;"
the
or
the
Bonower's
of
**f*lor) to $G Bsnk sp€cifying the outcome
or
taken'
slcps
"ri-irl"*n
i.oiJ rrrrir.."nting egincy's invesigation into such p{otest' and any
;-':ihe'Bono*er'or the Proiecr ImPlementing Ascncv to rcsol!e
il;;;;;;;
thc issues raised in the Prolesl
ART!cLf, Iv . Ft:{ANCtAL COVENANTS
$ction 4.01. Fintnciol Recordr rld Reports
agerrcies ol thc [lorrot\'cr
rar The Borrorver .hall. in resPcct of the depannlenls ormarntrrn
pr"cedurcs rcc"rrl:
ll'-'"iir. ?.,, ."-. rr- "rr rh" Pio1ecr nt ant pin thercol
rellcct. in accordalce ullh interutlonJl) a(rcplcd a(countlnB
-i ua"o*" o,f"q-t"ioapptied.
the
the openrions' tcsources and cxpeoditures relarinB to
il;;;."il",li
-pii""t
proliress of the project (including its cosls and the
and record the
-aioronit", from
it).
ten'efrs o be dsrived
(b) The Bonowcr shall:
(l) have the records an<l accounls referred lo in Section {'{)l(a) ltrr each fiscal
rvith
V", uralla by indep€ndenl audrtors acceptable lo lhc Bink in accordancc
intemationally iccepted audiring principles and srandardsl
six
(2) fumish to the Bank as soon as available' but in any case nol laler lhan
auditon
#n*tt oe.. U..nO ofeach Fiscal Year, rhe repon of such audil by such
of t*i ."rp" *a in tuch det.il as the Bank may rcasonahly request: and
ムumh:灘 :lTI:
u冊 為乳
獄。
● qucst
information conceming such records and
Bank mat from time to linrc Rasonahl]
FX=(t T10N COPY
ARTICLE V - SUSPENSION; ACCELERATION
Scctior5,0l. Suspcnrion
The following is specified for purposcs of Seclion 7.01(a)(xvii) ol thc Slandard
Tenns and Corditions
the lcgislative aad regulstory t"mcwork .pplicablc to the road sector in the territory of
the Bonower shall have b€eIr amended, suspsnded, sbrogated, repelled or \\aived in r
matuler that could have a material advers€ elIect on the Project or the ability of lhe
Bonowcr or thc Project Implementing Agency rc carq' out rhe Projecl or lo perform an)
oflhe Borrowcr's obligations under lhis Agreemenl. olher than as applovcd by thc Bank
in writing.
Scciior 5.02. Accelerrtiotr o[ Mrturity
'lcrms
The followitrg is specilied for purposes of Section 7.06(l) oI the standard
and Conditions. oalnely lhe evenl specified in Section 5.01 shall have occuned and be
continuing, provided that no renledial actions shall ha\'c becn initiatcd bJ th!' Botr()\rcr
to lhc satisf;clion ofthe Banl( Nithin 30 da:fs afler notice thereol has bccn given by thc
Bank to the Bollo\r'er.
ARTICLE VI - EFFECTIVENESS
ScctioD
6.01. Cooditioos Preccdclt to l-fIc.tiYcncss
'l
Thc following are specificd for purposcs of Section 9 02(c) of lhc Slandard erms
and Conditions as additional conditions to fic efibcti(eness otthis Ageemenl:
The PIU shall have been designated at lhe Project lmplemenring Agenc] \\'ilh adequale
resowc€s and suiubly qualified personnel and under terms ol relbrence acccptahlc to
tlre Bank.
S.ctioD 6.02. Conditions Precedent ao CoDmilment ofTrrnchc 2
Thc Bank shall detcrmirc in its discretioD \Ulether to make Tralche 2 available !o
lhc Bono\rtr. Such ddermination by thc Bank will be confirmed to the Boro\rer in
writing and. in addition to lh€ fulfilment by lhc Borrowcr of all of ils obligations undtr
this Ag.cemcnt shall alsr bc sub.iect 1l> $e prior fulfilment. in lonn ud substancc
satisfactory to the Bank. ofthe following condilions Prccedenli
(a) the Bank shall hale received salisfactor.v results oi the tcndcr lbr civil r'rorks and
s,upervision consulting scrvices: and
18
EXI]CIIT]ON COPY
(h) lhc Ba* shalt havc receivcd a written request from th€ Borrower to makt
iranche 2 availablc for drawdowns ard specifuiog the amount to be madc available
under Tranche 2.
Scctioo
6.03. Legrl OPidon
For purposes of Secrion 9.03(a) of fie Slandad Ilrms and Conditions' tle
opinion or opinions of counsel shall be given on behalf ofthe Bonower by the Ministrv
of Justic€.
Sction 6.0t, Terminatioo for Fnilurt lo Becoue Elfective
The date l8O days after rhe datc of fiis Ageemcnt is specified for purposes of
'l
Section 9.04 ofthe Srandard enrls atd Conditiolts.
ARTICLE VU - MISCELLANEOUS
Scction 7.01, Notices
Thc followiog addresses al€ sPecilied for purposes of Section l00l ol the
Stsndrrd Terms and Conditiorls:
for the Borowec
Gcorgia
Minisuy oi Finance
16, corgasali Srreet
0l I4 Tbilisi
Georgia
Anenton: Public Debt and Extem0l financing Depanment
Fa,rr
*995-ll-1261-l2i
For tle Banl:
Europcan Bank for Rcconstruction and Development
One Excbangc Square
London EC2A 2JN
Uniled Kingdom
Atlcntion: OpentionAdministrationDepanment
+4+20-7338-6100
Fsx:
l9
EX ECt∫ T10N
COPY
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20
「 X「 Cl'T10N COPY
SCHEDULE l‐ 1)ESCRIPT10ヽ OF THE PROJE(ヤ :
l.
The purpos€ of the Project is lo assist th€ Bono*er in financing the construcrion
and rclated cosls ola seclion ofa new bridge localcd al thc lerritor!'of lhc Borowet flt
the Sadakhlo.Bagrarashen border crossing between the Republic of Armcnia and
Ccorgia.
2- The Ppject consists ofthe following Pans. subjecr to such modificalions thereof
as the Bant and lhe Bonower may agEe upon ftom lime lo time:
Prrt A (to be finsnced witl l ranche I and'lmnche 2): Construction of a
scctiot of a bridSe located on the tenilory of the Borrouer at the SadakhloBsgratashen bordei crossing bet$'een the Republic ofArmenia and GeorBial
Part B (to bc financcd with'lmnche I and Tranche
senicas in rclation to Pall A.
2): Supenision consulting
The Projecl is expccred lo be completed \trithil three yeats from the date of
sigaing ofthe I-oan Agreemenl (Pioject Complelion)
L
sl-l
FXFCUT:ON COPY
SCHEl)ll:E2‐ (ATR(:()RIES Aヽ D DRAヽ VDOヽヽヽヽ
lhe
1he table atlached to this Schedule seis fonh the Categories, thc amoLlnt of
in
be
financed
Load allocaled to each Category and the percentage of expenditulcs to
each Cdegory.
l.
2. Notwihst$dhg the provisions of paragaph I rbove. no Drarvdown shall be
made iD reslect ofexpenditures incurred prior to the date ofthc Loao AS.rccme '
The Bank shall he enlitled lo dra$ do\\n on behalfofthc Borroucr and ttt prtl
ilself. a5 and rvhen due. lhc l'ronl_!'l)d ComnliJslon.
l.
\:- l
ttt
t.\I(L Il()\(()PY
Atlechmeot to Schedul€ 2
Cttcgirrl
Amounl of lh€ Losn
Allocll.rl io lhe Lo!rl
P.r.cnuqt of f \Plrndilurcs
lo bt Financcd
Currrncy
100 % of conlracl
(l) Civil Wo.ks ftn Pan A:
(2) SuErvision consultirg
excludil18 an] Ta\es
350000
Services for Part B:
(3) Froot-€ Commissiofl
50000
100 9'u ol'conlracl
excluding any Iaxcs
10('1
￨
(.1) Unalllxatcd
1 000000
Iinrl
6.000.000
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