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LOAN NUMBER 8377.G E Loan Agreement (Transmission Grid Strengthening project) between GEORGIA INTERNATIONAL BANK FOR RXCONSTRUCTION AND DEVELOPMENT o^tea SsTte-let J ,zott LOAN NUMBER 8377.GI LOAN AGREEMENT Agreernent daled lgVte-/.a 3 ,zotl,between CE9RGtA ("Borrower"; and the TNTERNATIONAL BANK FoR RECONSTRUCTTON AND DEVELOPMENT ("Bank"). The Borrower and the Bank hereby agree as follows: ARTICLE I _ GENERAL CONDITIONS; DEFINITIONS 1.01. The Ceneral Conditions (as defined in the Appendix to this Agreernent) constitute an integral part ofthis Agreemerrt. 1.02. Unless the context requires otherwise, the capitalized terms used in this Agreement hav€ the meanings ascribed to them in the General Conditions or in the Appendix to this Agreement. ARTICLE II _ LOAN 2.01, The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, the amount of sixty rnillion United States Dollars (US$60,000,000), as such amount may be converted from time to tinre through a Currency Conversion in accordance with the provisions of Section 2.0? of this Agreement ("Loan"), to assist in financing the project descr,bed in Schedule I to this Agreement ("Project"). 2.02. The Borrower may withdraw the proceeds of the Loan in accordarrce with Section lV of Schedule 2 to this Agreement. 2.03. The Front-end Fee payable by the Borrower shall be equal to one quarter ofone percent (0.25%) ofthe Loan amount. 2.04. The interest payable by the Borrower for each Interest period shall be at a rate equal to the Reference Rate for the Loan Cunency plus the Variable Spreadi provided, that upon a Conversion ofall or any portion ofthe principal amount of tlre Loan, the interest payable by the Borrower durilg the Conversion period orr suclr amount shall be deterrnined in accordance with the relevant provisions of Article lV of the Ceneral Conditions. Notwithstanding the foregoing, if any amount of the Withdrawn Loan Balance remains unpaid when due and such nonpayment continues for a period of thirty days, then the interest payable by the Borrower shall instead be calculated as provided in Section 3.02 (e) of the Ceneral Conditions. 2.05. The Payrnent Dates are May I and November I in each year. 2.06. The principal amouut of the Loan shall be repaid in accordance with tlre amortization schedule set forth in Schedule 3 to this Agreement. 2.01. (a) The- Borrower rnay at any time request any of the following Conversions ofthe terms ofthe Loan in order to facilitate prudenl debimanagernent: (i) a changc of the Loan Currency of all or any portion of the piincipal amount of the Loan, withdrawn or unwithdrawn, to an Approved Currency; (ii) a change ofthe intercst rate basis applicable to; (A) all or any portion of the principal amount of the Loan withdrawn and outstanding from a Variablc Rate to a Fixed Rate, or yice versa; or (B) all or any portion of the principal amount of the Loan withdrawn and outstanding frorn a Variable Rate based on a Reference Rate alld the Variable Spread to a Variable Rate based on a Fixed Referenc€ Rate and the Variable Spread, or vice versa; or (C) all of the principal amount of the Loan withdrawn and outstanding from a Variable Rate based on a Variable Spread to a Variable Rate based on a Fixed Spread; and (iii) the setting of limits on the Variable Rate or the Reference Rate applicable to all or any portion of the principal amount of the Loan withdrawn and outstanding by the establishrnenl ofan Interest Rate Cap or Interest Rate Collar on the Variable Rate or the Reference Rate. (b) Any conversion requested pursuant to paragraph (a) of this Section that is accepted by the Bank shall be considered a .,Conversion,', as defined in the Ceneral Conditions, and shall be effected in accordance with the provisions of Article IV ofthe General Conditions and ofthe Conversion Cuidelines. (c) Promptly following tlte Execution Date for an Interest Rate Cap or Interest Rate Collar for which the Borrower has requested that the premium be paid out of the proceeds of the Loan, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amounts required to pay any premiurn payable in accordance with Section 4.05 (c) of the General Conditions up to the amount allocated from time to time for the purpose in the table in Section IV of Sclredule 2 to this Agreement. ARTICLE III _ PROJECT 3.01. The Borrower declares its commitment to the objectives ofthe project. Tothis end, the Borrower shall carry out part C of the project through thc Ministry of Environment and Natural Resources, protection and the Ministry of Energy and cause Parts A, B, and D of the project to be canied out by the project Irnplenrentirrg Entity, in accordance u,ith the provisions of Article V of the Ceneral Conditions and the Project Agreement. 3.02. Without limitation upon the provisions of Section 3.Ol of this Agrcenrent, and except as the Borrower and the Bank shall otherwise agree, the Borrower shall ensure that the project is carried out in accordance -with the provisiotrs of Schedule 2 to this Agreement. ARTICLE IV - REMEDIES OF THE BANK 4.01. The Additional Event of Suspension consists of the following, narnely that the Project lmplementing Entity,s Legislation has been arne-nded, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of dre Project Implementing Entity to perform ary oi its obligatioris under the Project Agreement. 4.02. The Additional Event of Acceleration consists ofthe following, namely that the event specified in Section 4.01 of this Agreement occurs and is continuing for a period of ninety (90) days after notice ofthe event has been given by the Bank to the Borrower. ARTICLE V _ EFFECTIVENESS; TERMINATION 5.0 I . The Add itional Cond itions of Effectiveness consist of the following: (a) The Subsidiary Agreement has been executed by the Ministry of Finance, Ministry of Environrnent and Natural Resouices, protection and the Minislry of Energy on behalf of the Borrower and the project lmplementing Entity. (b) The Project lmplernenting Entity has submitted ro the Bank the Operational Manual, in fonn and substance satisfactory to the Barlk. 5.02. The .Additional Legal Matter consists of the following, na$ely that the Subsidiary Agreement has been duly authorized or ratified by the Borrower.and the Project Implementing Entity and is legally binding upon the Borrower and the Project Irnplernenting Entity, in accordance with its terms. 5.03. The Effectiveness Deadline is the date one hundred arrd twenty (l20) days after the date of th is Agreement. -4ARTICLE VI _ REPRESENTATIVE; ADDRESSES 6.0 I . Tlre Borrower's Representative is rhe M in ister of Finance. 6.02. The Borrower,s Address is: Ministry of Finance l6 Corgasali Street 0ll4 Tbilisi Ceorgia Facsimile: 995-32_226t 461 6.03. The Bank's Address is: lntemational Bank for Reconstruction and Development l8l8 H Streer, N.W. Washington, D.C. 20433 Un ited States of America address; Telex: Facsim ile: INTBAFRAD 248423(MCt) or t-2OZ-47.1-639t Washingon, D.C. 64145(MCt) Cable -5- AGREED ar Tbilisi, Georgi4 as ofthe day and year first above written. GEORCIA By Represetrtative Nu-", i,6/ox kl^/u"; rtt," .,U,),a/<4n.^)< INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT "__ l^S[r*! eutho'izeE nllEliiiiG Name: Tille: Br*,on*t- Dr€sro3 -6- SCHEDULE I project Description , The objectives of the Project are to provide reliable power transmission to the southwestem part of the grid, upgrade electricity exchange systems, and provide economically efficient, environmenta[y and socialry sustiinabre erectricity planning. sector The Project consists ofthe following parts: Part A: Transmission S.vstem Strenethening . . Construction ola high voltage transmission line from Akhaltsikhe to Batumi, through: ( I ) the supply and instarlation of a doubre-circuit, 220 kV transrr ission rine from Akhaltsikhe back-to-back and 500/400/220 kv substation (Akhartsikhe sration) to Batum i 220 kV substation; and (2) the supervision of rhe supply and installation of thc Akhaltsikhe Batumi transmission line; and through the carrying out of works and provision of goods and consultarrts, services. Part B: Wholesale Power Exchanse platform . Design, supply and installation of a power exchange platform including: ( l) the provision of hardware and software for metering, balancingl arid trading systenri; and (2) th^e sup€rvision ofthe supply and installation ofihe said ptaltfo.m rh.ouih ihe carrying oui ofsmallworks and provision ofgoods and consultants, services. h(O . Preparation ofan electricity sector strategic environmental and through the provision of consultants, seryices. social assessmenl Part D; Project Maragement and Transmission Svstems Studies Provision of consultants, services to assist the project Implementing Entity fol the puposes of: (l) effective management and implementaiion of project aciivities; and 12; the preparation of: (a) a new transm ission-system expansion "plan; (b) prospective transnrission line feasibility studies; a,d (c) the preliminary desigirs for the prospective transmission lines. -7 - SCHEDULE 2 project Ex€cution SectionI. ImplementationArransements A. InslitutionalArrangements l. The Borrower shall: (a) cause the project Implementing Entity to cany out parts A, B and D of the project in accordance with this Agreernent, the project Agreement, the Subsidiary Agreemert and the project Oierational Manual aod sJrall not assign, amend, abrogate or waive any provision of said Manual without the prior written approval of rhe Bank; and (b) carry out part C of the project tlrrough the Miristry of Energy and the Ministry oi Environment and Natural Resources' Protection, in accordance with this Agreement. Notwithstanding the fo-regoing, and for.the purpose of carrying out part C ofthe project, the Mirristry of Ene'gy and the Ministry of Environment and Natural Resources, protectio. shall jointly review and approve the terms of reference for carrying out the electricity sector strategic environmentar and sociar assessment and thereafter jointly review and approve the said assessment. 2. For the purposes of assisting the project Implementing Entity in the implementation of parts A, B and D of the project, and in oider to ensure the proper coordination of the execution of the project, the Borrower shall cause the Project lmplementing Entity to: (a) maintain throughout the duration of the Project, adequate resources and facilities, and proflssional staff in adequate numbers whose qualifications, experience and terms of reference shali be acceptable to the Bank; and (b) assisr the Ministry of Energy and the M inistry of Environment arrd Natural Resources, protection in pro""iiing the procurernenr for. Part C of.the project in accordance with implementaiion arrangen.rerlts satisfactory to the Bank. B. ' Subsidiary Agreement facilitate the carrying out of rhe project lmplementing Ertity,s Respective fo Parts A, B and D ofthe proiect, rhe Borrower shall ,.f. p'urt of if," proceeds of the Loan avaitable to the. project trpt.rn.niing ;;j,;-;;", , subsidiary agreement betwe€n the Ministry of Finance, Ministry- of Environment and Natuml Resources' protection and the Minisiry of Energy on behalf of the Borower and the project Implementing Entity, under tii,rs anO conditions acceptable to the Bank (,,Subsidiary egre"renij which shall include, withour limitation the followirg terms and conditions; (a) The Project lmplemenrirg Entity shall utilize the proceeds ofthe Loan in accordance with this Agre€ment and the project Agreement; and (b) The Ministry of Environment and Natural Resources' protectiou and the Ministry of Energy shall carry out part C of the projecl and for that purpose shall be assisted by the project lrnplernenting Entity in the procurement process related thereto. 2. The Borrower shall exercise its rights under the Subsidiary Agreement in such maDner as to protect the interests of the Borrower and the gank and to accomplish the purposes ofthe Loan. Excepl as the Bank shall otherwise agree, the Borrower shall not assign, amend, ab.ogate or waive the SubsiJiary Agreement or any of its provisions. Anti-Corruption The Borrower shall ensure that the Project is carried out in accordance with the provisions of the Anti-Corruption Guidelines. D. t. Safeguards The Borrower shall, and shallcause the project Implementing Entity to, cafl] out the Project in accordance with the requirements, critiria, organizational arrangements and operational procedures set forth in the ESIA report, ESMp, RPF and RAP(s), and shall not assign, amerd, abrogate or waive the ESIA repoft, ESMP, RPF and/or RAP(s) or any provision thereof, without prior approval ofthe Bank. 2. Notwithstanding the foregoing, prior to the issuance of the bidding docunrents for any contract for works under the Project, the Borrower shall, and shall cause the Project lmplementing Entiry to: (a) prepare an updated ESMP, if necessary in case of changes in the transmission lines location, satisfactory to the Bank, which shall be disclosed in accordance with the ESIA Report and Bank's applicable policies; and (b) 3. submit to the Eank for its prior approval: (i) the proposed design and site for said works; and (ii) the proposed contract for said works ro ensure that the provisions of the ESIA Report, rhe RpF and the ESMp are adequately included in said contract; and The Borrower shall, and shall cause the Project Implementing Entity to ensure that: (i) such works are canied out in accordance with the ESIA Report, Rpl', -9- ESMP and respective RAp; (ii) all necessary actions are taken to minimize. to rhe extent possible, any involuntary loss by Affected persons ofshelter, pr.ocluctive assets o[ access to productive assets or income or means of iivelihood, temporarily or permanently; (iii) all rights to land, usufructs or custornary rights and other property are allocated or acquir€d, equitable compersation thereof is paid and resettlernent is carried out in accordance with the principles and institutional procedurcs established in the RAp(s); (iv) Affected persons are equitably compensated, resettled and rehabilitated in accordance with the RAP(s); (v) the implementation arrangements for resettlem€nt, including compensation, relocation and rehabilitation ofAffected persons are docurnentedl and (vi) the implernentation, monitoring and evaluatior of tne neelsy li completed and reported in a manner satisfactory to the Bank. 4. The Bonower shall ensure that the project Implementing Entity shall not commence any works for a specific project site requiring rescttlern€rrt and/or land acquisition under the project until the resp€ctive RAp ; fully inrplemented. 5. The Borrower shall cause the project Implementing Entity to ensure that transmission lines built under the project will not encroach upon any specially protected natural areas. 6. The Borrower shall cause the project lmplementing Enrity to establish and implement, throughout lhe project implementation, an iasily accessible grievance redress mechanism, acceptablc to the Bank, to address fejdback and gii"uanc"s relating to the Project. Section Il. A. Proiect Monitorins Reoorting and Evaluation Project Reports The Borrower shall cause the project lmplementing Entity to monitor and evaluate tlre progress ofthe project and prepare projeit Reports, in accordauce with the provisions ofSection 5.08 ofthe General Conditions and on the basis of indicators acceptable to the Bank. Each project Report shall cover the period of one calendar semester, and shall be funished to the Bank not later than one month after the end ofthe period covered by such report, B. Financial Management, Financial Reports and Audits l. The Borrower shall maintain, or cause to be maintained, a financial managetnent system in accordance with the provisions of Section 5.09 of the Cener.al Conditions. - t0 - 2. The Borrower shall cause the Project lmplementing Entity to prepare and furnish to the Bank not later than forty-five (45) days after the errd of eaclr calerrdar quarter, interim unaudited financial reports for the Project covering the quarter, in form and substance satisfactory to the Bank. l. The Borrower shall cause the Project lmplementing Entity to have the Financial Statements audited in accordance with the provisions ofSection 5.09 (b) ofthe Ceneral Conditions. Each audit of the Financial Statements shall cover $e period of one fiscal year of the Borrower. The audited Financial Statements for each such period shall be furnished to the Bank not later than six rnonths after the end of such period. SectionIII. Procur€m€nt G€neral L Goods, Works and Nor-corsulting Services. All goods, works and nonconsulting services required for the Project and to be financed out ofthe proceeds ofthe Loan shall be procured in accordance with the requirernents set fotlh or relened to in Sectiol I ofthe Procurement Cuidelines, and with the provisions of this Section. z. Consultants' Services, All consultants' sewices required for the Project and to be financed out ofthe proceeds ofthe Loan shall be procured in accordance with the requirements set forth or referred to in Sections I and lV of the Cousultant Guidelines and with the provisions ofthis Section. 3. Definitions. The capitalized terms used below in this Section to describe particular procutement methods or methods of review by the Bank of particular contracts refer to the corresponding method described in Sections ll arrd lll ofthe Procurement Guidelines, or Sections ll, lll, lV and V of the Consultant Cuidelines, as the case may be. B. Parlicular Methods of Procuremenl of Goods, Works and Non-consulting Services L lnternational Competitiv€ Bidding. Except as otherwise provided in paragraph 2 below, goods, works and non-consulting services shall be procured under contracts awarded on tlre basis of International Cornpetitive Bidding. 2. Other Methods of Procurement of Goods, Works and Non-consulting Services. The following methods, other than lnternational Competitive Bidding, may be used for procurement of goods, works and non-consulting services for those contracls specified in the Procurement Plan: - ll - Procurement Method (a) National Cornpetitive eiaaing irr below: I (i) "Open competitive procedures,' (i.e. tender,,) shall be tlre defaurt rure. A single enverope procedure shail be used for. the submission of goods, works, or non-consulting services. (ii) lnvitations to bid shail be advertised in at reast orre widery circulated. national daily newspaper allowing a minirnunr of thirty (30) days for the preparatiorr and sub-rnission of bids. Advertisements pubrished in foreign ranguage newspapers shail be in compliarrce with such a :O_day_mlnimunr in number of ..public days for bids preparation and subrnission. (iii) Bidding shail not be restricted to pre-registered firms. rf registration is required, it shail not be denieJto erigibre bidders for reasons unrerated to their capacity and r"esources to successfully perform the contract (e.g., mindatory rnernbership in professional organizations, classification, etc). post_ quarification shail be conducted to verifo that the bidder has the capabirity and resources to successfulry perform the contract. (iv) Governrnent-oyned enterprises in ceorgia srialr be erigibre to participate.in bidding onry if they can estabrish that tl-rey are Iegally and financially autonomous, operate under cornmercial law and are not a dependent agency of the Governrnent. Covernment-owned enterprises will be subject to the sarne bid and performance security requirernents as other bidders. (u) Procuring entities shall use the appropriate Bank,s ,rnlpt" bidding docunrents, including pre_qualification documents, ior tlre procurement of goods, works, or non_consultirrg services, and such documents shail contain draft contract and conditions ofcontract including crauses on fraud and corruption, audit and publication of award, all acceptable to the Bank. ('i) Bids shall be opened in pubric, immediatery after rhe deadrine for submission of bids. Bidder's representatives shail be permitted to attend the bid opening. (vii) Extension of bid varidity shail be ailowed once onry for not more than thirty (30) days. No further extensions ihould be without the prior ofthe Bank. ] - t2- Procurem€nt Method (viii) Evaluation of bids shall be based on quantifiable crireria expressed in monetary terms as defined in the bidding documents, uo rnerit point system and no domestic preference shall be used in the evaluation of bids. Contracts shall be awarded to qualified bidders having submitted the lowest evaluated substantially responsive bid and no negotiations shall be carried out prior to contract award. (ix) Civil works contracts of long duration (e.g. rnore than eighteen (18) rnonths) shall contain an appropriate price ad.iustrnent clause. (*) No bid shall be rejected purely on the basis that the bid price is higher than the estimated budget for that procurernent. All bids shall not be rejected and new bids solicited without the Bank's Drior concurrence. (b) Shopping (c) Direct Contractirg c. Particular Methods of Procurement of Consultants' Services L Quality- and Cost-based Selection. Except as otherwise provided itl paragraph 2 below, consultants' services shall be procured urder contracts awarded on the basis of Quality and Cost-based Selection. 2. Other llethods of Procurement of Cotrsultants' Services. The following methods, other than Quality and Cost-based Selection, rnay be used for procurement of consultants' services for those contracts which are specified in the Procurement Plan: Procurement Method (a) Quality-Based Selection (b) Selection under a Fixed Budget (c) Least Cost Selection (d) Selection Based on Consultants' Qualifications - 13 - Procurement MettroO ! (e)Single-Sorr"e@ t" ! !l tl I for the Selection of Individual C:onsultants (g) Single-so, I I D. Review by the Bank of procurement Decisions The Procurement Plan shall set forth those contracts which shall be subject to the Bank's Prior Review. Ail other contracts shail be subject to post Review by the Bank. Section IV. Withdrawal of Loan proceeds A. General l' The Borrower may withdraw the proceeds of the Loan in accordance with the provisions of Articre il of the benerar conditions, ttris Section, arrd such additionar instructions as the Bank shail specifo bi ;;;;".- to rhe Borrower (including the "worrd Bank Disbursernent cuiderines for projects,, dated May 2006, as revised from tirne to time by the Bank ;r; ; ;"l;appricabre to this Agreement pursuant ro sucrr instructions), to finance Eis;;;E*p"nditures as set forth in the table in paragraph 2 below. 2' The followine tlbfe specifies tlre categories of Eligible Expenditures that nray be financed out of the proceeds of the Loan (,.ca6gory,,), the ailocatiorr of the amounts of the Loan to each.category, and trre p"rJ.nirj" oiexpenoitures to be financed for Eligible Expendituresr.n iach Category. - 14 - Perceniage of Category (l) Coods, works, non- Amount of the Loan Allocated (expresscd in USD) Expenditures to be li n artced (inclusive ofTaxes) s2,350,000 100% 6,500,000 80% i,000,000 80% consulting services, and consultants' services for Part A ofthe Project (2) Coods, small works, non-consulting services, and consultants' services for Parts B and D ofthe Project (3) Consultants' services for Part C ofthe Project (4) Frontend Fee 150,000 Amount payable pursuant to Sectiorl 2.01 of this Agreement in accordance witl) Section 2.07 (b) ofthe General Conditions (5) Interest Rate Cap or 0 lnterest Rate Collar Prem iu m TOTAL AMOUNT Arnount due pursuant to Section 2.07(c) of this Agreement 60-000-q00 B. Withdrawrl Corditionsi Withdrawal Period l. Notwithstanding the provisions of Part A ofthis Section, no withdrawal shall bc made for payments made prior to the date ofthis Agreerrent. 2. The Closing Date is March 3 l, 2019. - 15 - SCHEDULE 3 Amortization Schedule The following table sets forth the principal payment Dates of the Loan and the percentage of the total principal aurourrt of tlre Loan payable on each principal Payment Date ("lnstallnrent sharc"). If the proceeds oltlre Loan have been frilly withdrawn as of the first Principal Payment Date, the principal arnourrt of the Loan repayable by the Borrower on each principar payment Date shall be determined by the Bank by multiplyirrg: (a) withdrawn Loan Balance as of the first Principal Payment Date; by (b) the lnstallment Share for each principal I I I Payment Date, such repayable amount to be adjusted, as necessary, to deduct any amounts referred to irr paragraph 4 of this Schedule, to wtrich a currency I Conversion applies. Principal Payment Date Installment Share (Expressed as a Percentage) On each May I and November I Beginning November l, 2024 through November l, 2038 On May 1,2039 I I I I I 3.33% 3.43% ; i I 2. I I lf the proceeds of tlre Loan have not been fully withdrawn as of the first principal Payment Date, the principal amount of the Loan repayable by the Borrower on each Principal Payment Date shall be determined as follows: (a) To the extent that any proceeds of the Loan have beerr withdrawn as of the first Principal Payment Date, tlre Borrower shall repay the Withdrawn Loan Balance as of such date in accordance with paragraph I of this Schedule. (b) I I I I i ,, I I I I I i : I i I Any amount withdrawn after the first Principal payment Date shall be rcpaid on each Principal Payment Date falling after the date of such withdrawal in amounts determined by the Bank by rnultiplying the amount of each such withdrawal by a fraction, the numerator of which is the original Installment Share specified in the table in paragraph I of this Schedule for said Principal Payment Date ("Original lnstallment Share") and the denorninator of which is the sum of all remainirrg Original Installment Shares for Principal Payment Dates falling on or after such date, such amounts repayable to be adjusted, as rrecessary, to deduct any - 16 - amounts reGrred to in paragraph 4 ofthis Schedule, to which a Currency Conversion applies. 3. (a) Amounts ofthe Loan withdrawn within two calendar months prior to any Principal Payment Date shall, for the purposes solely of calculating the principal amouDts payable on any Principal Payment Date, be treated as withdrawn and outstanding on tlre second Principal Payrnont Date following the date of withdrawal and shall be repayable on each Principal Payment Date commencing with the second Principal Paynrent Date following the date of withdrawal. (b) Notwithstanding the provisions ofsub-paragraph (a) of this paragraph, if at any time the Bank adopts a due date billing systern under whicl'l invoices are issued on or after the respective Principal Payment Date, the provisions of such sub-paragraph shall no longer apply to any withdrawals made after the adoption ofsuch billing systern. 4. Notwithstanding the provisions of paragraphs I and 2 of this Schedule, upon a Currency Conversion of all or any portion of the Withdrawn Loan Balance to an Approved Currency, the amount so converted in the Approved Cun'ency that is repayable on any Principal Payment Datc occurring during the Conversioo Period, shall be determined by the Bank by multiplying such amount in its currency of denomination immediately prior to the Conversion by either: (i) the exchange rate that reflects the amounts of principal in the Approved Cuncncy payable by the Eank under the Currency Hedge Transaction relating to the Conversion; or (ii) if the Bank so determines in accordance with the Convcrsion Cuidelirres, the exchange rate component ofthe Screen Rate. 5. lf the Withdrawn Loan Balance is denominated in more than orre Loan Currency. the provisions ofthis Schedule shallapply separately to the arnount denon'tinated in each Loan Currency, so as to produce a separate amortization schedule for each such amount- ! I I I ! I t7- APPENDIX Definitions "Affected Person" means a person who on accourlt of tlre acquisition of land for purposes ofestablishing relocation sites under Parts A and B ofthe project hacl or would have his or her: (i) standard of living adversely affected; or (ii) right, title or interest in any house, or interest in or right to use any land (incruiirig pre,nises arrd agricultural larrd) or right.in annuar or perennial urd trees oi any other "iopr or perrnanently; fixed or movable asset, acquired or possessed, ternporarily or I I i I I I (iii) business, occupatiorr, work or place of resiience t, naultat adveisely affected, ternporarily o.r permanentry, and "Affected persons,, rneans, ; collectively, all persons who qualify as an Affected person. 2. 3. "Anti-corruption Guidelines" rneans the "Guidelines on preventing and combating Fraud and corruption in projects Financed by IBRD Loans and IDA credits and Grants", dated october I 5, 2006 and revised in January 20 r r . "category" means a category set forth in the table in Section lv of Schedule 2 to this Agreement. 4. "consultant Guidelines" mears the "Guidelines: Selection and Employrnent of corrsultants under IBRD Loans and IDA credits and Grants by world Bank Borrowers" dated January 201 I . 5. "ESIA Report" means the Borrower's environrnental and social impact assessment report, acceptable to the Bank dated April 4,2o14,corrsisting o{ inter alia: (i) a description of the site where construction activities are to be carried out under the Project and the justification for said activities; (ii) the actual or potential environmental and/or social impact of the constructiorr activities referred to under sub-paragraph (i) above; and (iii) an environmental arrd social management plan setting forth adequate mitigating measures and systems required to monitor the implemerrtation of the construction activities referred to under sub-paragraph (i) above and to ensure compliance of such activities with said measures with a view to Iimiting any actual and potential adverse environrnental and/or social impact. 6. "ESMP" rneans tlre Borrower's environmentar and social rnanagernent plan, acceptable to the Bank, dated April 4,2014, which is included ttreEste Report describing the environmental and social mitigation, monitoring and institutiorral measures to be undertaken during the implementation of the project, and satisfactory to the Bank. - t8 - 1. "General Conditions" means the .,lnternational Bank for Recorrstruction and '' Development Ceneral Cond itions for Loa ns,,, dated f"f"*f,l i Z, zd f i. 8. "Ministry of Energy', means the Borrower,s Ministry of Energy thercto. or any successor. "Ministry of Environment and Natural Resources, protection,, nrealrs the Borrower's Ministry of Environment and Natural Resources, ero,""iion o, ,ny 9. successor thereto. r0. "Operational Manual', mearrs the project Operational Marual to be adopted by pursuant to Section s.orluyortriJ igr""r"n,, :9,1:jl:,_l.ll.renting.Enrity settrng torth the opcrational, administrative and fiduciary resporisibilities, procedures and rules.for the implementation ofthe project, d'ata cjiection and reportrng. and which includes a manual of financial ,na,iageinent Drocedures lhat ou1 for project accoullinB, reporting anJ audit. disbursenrcnrs, 111 3rogeauls Ilow oI iunds and management of the designated accourts as tl.te same lnay be amerded from time to time with the agreement ofthe Bank. . "Procurement Cuidelines,,means the ,,Guidelines: procurement and Nor-consulting Services under IBRD Loans and IDA World Bank Borrowers', dated January 201 l. 12. olCoods, Works Crediis ,,J Orunt. Uy "Procurement Plan" means the Borrower,s procurement plan for the project, dated April '1,2014 and referred to in paiagraph Llg'of the procurement Cuidelines and paragraph 1.25 ofthe Consu ltani G uid"lin"r, u, the same stratt Ue updated from time to rime in accordance with the prorisions'oiraiO plrgrapt s. r3. "Project Implementing Entity,, meaus the Ceorgian State Electrosystern, 14. "Project lmplernenting Entity,s Legislation,, means Order No. a Joint stock company established pursuant to Order Nol l_:/g l0 of tt e vi'rirtry of St"t" Property Management of Ceorgia dated Novernber g,2002. M ili:try o,f Stare ?rop€rty N4alagement of Ceorgia, l_3/gl0 ol the dated Novernber 6, 2002 regrstered by the Resolurion of Vake_Saburtalo district court on Novenrber 12, 2002 and operating by vinue of perpetuar erectricity transmission ricerxe ruo.r2UU4 and d,spatching license No. ll-004 oblained orr Decernber 20. 2002. t5. "RAP(s)" means the Borrower,s resettlement action plan(s) satisfactory 10 rhe Bark,.to be prepared and implemented for carrying oui the'pioject in accordance with the RPF (as hereinafter defined), to set ouf inrer alia, the principles and objectives of the RAPG), the affected persons, eligibiliry criteria. cornpensation, assistance and rehabilitation entitlements, as well ai the monitoring anj reporting arrangements in confonnity with the RpF. 19 - 16. "RPF" mears the Borrower's.resettrement poricy framework, satisfactory to the Bank, dated April 4,20r4,and referred to in part D of section rof Schedure 2 to this Agreernent, setting forth, inter ario: (i) the descriptio, of ar"a, covered by the Project; (ii) the regar basis and screening process for ra'd acquisition, t ! resettlement and land use in connection with thi works to be carried out under Parts A and B of the project; (iii) the resettlement principles and entitlerne.ts of Pro-iect Affected persons based on different caiegories of irnpact; (iv) the procedures for valuation, compensation and otherLsistan"" p,.,cuid"d to th" Affected Persons, including the grievance process; (v) the resporrsibilities. procedures and requirements.for.the development and impiementation of specific resettlement actiorr plans; and (vi) an estimate of the cost tf 17. *Subsidiary "orp"nrution. Agreement" means the agreement referred to irr Sectio, r.B of schedule 2 to this Agreement pursuant to which the Borrower shall make the part of the proceeds of the Loan avairabre to the project rrnprementing Entity.

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