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LOAN NUMBER 2441-GEO(SF) LOAN AGREEMENT (Special Operations) (Municipal Servic€s Developmeni Project) between GEORGIA and ASIAN DEVELOPMENT BANK DATED 11 NOVEI\.4BER 2OO8 LAS:GEO 41198 LOAN AGREEMENT (Spocial Oporations) LOAN AGREEMENT dated 11 November 2008 between GEORGTA (the'Bonowe/) and ASIAN OEVELOPMENT BANK CADB"). WHEREAS (A) the Bonower has applied to AOB for a loan for the purposes of the projed described in Schedule 1 to this Loan Agreement (the'Projecf)i (B) th€ Projecl will be canied out by the Bonowe/s Municipal Development Fund ('MDF") and for this purpose the Borrower will make available to MDF the proceeds of the Loan provided for herein upon ierms and conditions satisfactory to AOB; and (C) ADB, on the basis i4lg! aIg of the foregoing, has agreed to make a loan to the Bonower from AOB'S Special Funds resources upon the terms and conditions set forth herein and in an agreement of even date herewith betwe€n ADB and MDF (the 'Project Agreemenfl); NOW THEREFORE the parties agree as follows: ARTICLE I Loan Reguladons; Defi nitions 1.0'1. Seclion All the provisions of the Special Operations Loan Regulations of ADB, dated '1 January 2006 (the 'Loan Regutations"), are hereby made applicable lo this Loan Agreement with the same force and effecl as if they were fully set forlh herein. Section 1.02 The definitions set forth in the Loan Regulatrons are applicable to this Loan Agreement, unless the contexl requires otheMise. ln addition, the following terms have the following meanings: (a) "ADB'S Loan Disbursement Handbook' means the ADB'S Loan Oisbursement Handbook dated January 2007, as amended from time to timei (b) "Charte/ means the charter of MDF approved by Govemment Decree No 1 18 dated 23 July 2005 as amended from trme to time; (c) "Consulting Guidelines" means ADB,S Guidetines on the Use of Consultants by Asian Development Bank and its Bonowers dated February 2007, as amended from time to time; (d) "EARF" means the Environmental Assessment and Review Framework lor the Project, as agreed between [ilDF and AOB; (e) 'Goods' means equipment and materials to b€ financed out of the proceeds of the Loan, including related services such as lransporlation, insurance, installation, commissioning, Uaining, and initial maintenance, bul excluding consulting servicesi (f) "grant'means a grant made or proposed to be made by MDF out olthe proceeds of the Loan to an MG for a subproject; (S) "lnvestsnent Financing Agre€m€nt'means an agr€ement to be entered into betwe€n MDF and an MG lor financing a subproiect as further described in paragraph 8 ot the Schedule to the Projecl Agreement; I \7 (h) 'Lari' means ths lawful cunency ot the Borowec (i) "MDF means the Municipal Development Fund of the Borrower, established under Presidential Oecre€ No. 294 dated 7 June 1997, as amended ftom time to time; 0) 'MG'means a municipal govsmmeflt within the Projecl Area to which MOF makes a loan and/or grant tor a subprojecl; (k) 'O&M'means operation and maint€nanco; (l) 'Operations Manual'msans tho operalions manual to be adopted by MDF for th6 Project pursuant to paragraph 10 of the Schedul€ lo the Project Agreemeni; (m) "Part' means each of the Project components as described in Schedule '1 to this Loan Agre€ment; i (n) "Procurement Guidelines' means ADB'S Procurement Guidelines dated February 2007, as amended from time to timei (o) 'Procurement Plan' means the procuroment plan for the Projeci agreed between MOF, and ADB, as updated from time to time in accordance wilh the Procurement Guidelines, Consulting Guidelines, and other anangements agreed w h AOB; (p) 'Projecl Area' means the teritory of the Bonower; (q) "Project Agreemenf has the meaning given in Recital (C) of this Loan Agreement; (r) "Project Executing Agency" for the purposes of, and within the meaning of, the Loan Regulations means MDF or any successor thereto acceptable to ADB, which is responsible for the carrying out of the Project; (s) "Project lmplementation Agreement' means the agreement to be entered into between the Borrower and MDF for the Projecl as referred to in S€ction 3 01 of the Loan Agreementi (t) "SAR' means a subproject appraisal reporl to be prepared by MOF for a subproject estimated to cost the equivalent of $2,000,000 and morei (u) "SSR'means a subproject summary report to be prepared by MDF for a subproject estimated to cost less than the equivalent of $2,000,000i (v) "subloan" means a loan made or proposed to be mad€ by MDF out of the proce€ds of the Loan to an MG for a subprojecl; (w) "subprojecl' means a projecl that me€ts the eligibility criteria set out in paragraph 2 of the Schedule to the Projec{ Agreement; (x) 'Window 1' means a financing window providing a combination of subloans and granls as described in Section 3.02(axi) ofthis Loan Agreement; (y) "Window 2'means a financing window providing grants as describ€d in Section 3 02(aXii) of this Loan Agreement; and ) v (z) "Works' means construction or civil works to be financed out ot the proceeds of the Loan, and including s€rvices such as drilling or mapping, and projecl reiated services that are provided as part of a singlo responsibility or tumkey contracl, but excluding consulting services. ARTICLE II The Loan 2.01 AOB agrees to lend to the Bonower from AOB'S Special Section Funds resources an amount in various cunencies equivalent to twenty lour million six hundred forly two thousand Special Drawing Rights (SOR24,642,000). 2.02. \J (a) Tha Bonower shall pay to ADB an inierest Seclion charge at the rate ot one percent (1%) per annum during the grac€ period, and one and one' hall percent (1.5olo) per annum thereafrer, on the amounl of the Loan withdrawn from the Loan Account and outstanding from time to time. (b) The term "grace period" as used in paragraph (a) of this Section means the period prior to payment of the first pdncipal amounl ot the Loan on the payment date in accordance with the amortization schedule set torlh in Schedule 2 to this Loan Agreement 03 The interest charge and any other charge on the Loan Section 2 shall be payable semiannually on 15 February and 15 August in oach year. 04. The Bonower shall repay the principal amount ol the Section 2 Loan withdrawn lrom the Loan Account in accordance with the amortization schedule set forth in Schedule 2 to this Loan Agreement 4 The currency ol repayment of the principal of the Loan Seclion 2 05 and the currency of payment of the interest charge for the purposes of Sections 4 03(a) and 4 04 ofthe Loan Regulations shall be Dollar. ARTICLE III Use ot Procoed! ol th€ Loeo , Section 3 01 Th€ Bonoriv€r shall make th€ proceeds of this Loan available on a grant basis to MDF for the purposes of carrying out the Project under a Project Implementatron Agreement, providing DlgI ale for the use of the proceeds of the Loan by I\,IDF in carrying out each Part of the Project, and the rights of the Borrower and ADB with respect lhereto Such Projecl lmplementation Agreement shall be in form and on terms and conditions acceptable to AOB, and shall be without prejudice to, and without limitation on, the obligations of the Borrower under this Loan Agreement. (a) Section 3.02. Except as ADB may otherwise agree, for the purposes of c€rrying out Part A of the Projeci (i) a portion of the Loan pro@eds in an amount equivalent to SDR10,473,000 shall be used for making a combination ol subloans and grants to the MGs for subprojecls ("Window 1') upon terms and conditions acceptable to ADB, and (ii) a ponion of the Loan proceeds in an amount equivalent to SDRl0,473,000 shall be used for making grants to lhe MGs for subprojects ('Window 2') upon terms and condilions acceptable to ADB (b) Except as ADB may otherwise agree, all Goods, Works and consulting services lo be linanced out ol the proceeds of the Loan shall be procured in accordance with the provisions of Schedule 4 to this Loan Agreemenl Section 3 03. Wrthdrawals from the Loan Account in respect of Goods Works, consulting servrces and other expend(ures shall be made in accordance with the provisrons of Schedule 3 to this Loan Agreement, as such Schedule may be amended from lrme to time by agreement between the Bonower and ADB, only on account of expendilures relating to (a) (b) Goods, Works and consulting services which are produced in and supplied from and services which are supplied from such member countries of ADB as shall have been specified by ADB from time to time as elgible sources for procuremenl; and Goods, Works and consulting servrces which meet such other eligibility requirements as shall have been specifled by ADB from time to time. Section 3 04 The Loan Closing Date for the purposes of Section 8.02 of the Loan Regulations shall be 30 June 2013 or such other date as may from time to time be agreed between the Bonower and ADB. ARTICLE IV Parlicular Covqnants Section 4 01 ln the carrying out of the Project, lhe Borrower shall perform, or cause to be performed, all obligations set fodh in Schedule 5 to this Loan Agreement and lhe Project Agreement ln addition to the reports and information set torth in Section 4 02 Section 6.05 of the Loan Regulations, the Bonower shall fumish, or caus€ to be fumished, to ADB all such reports and information as ADB shall reasonably request, with regard to lhe Pro,ect, conceming (i) the MGs, the subprojects, subloans and grants, and (ii) the administration, operations and financial cond ion of MDF. 4.03. The Bonower shall enable ADB'S representatives to Section inspect, with regard to the Projecl, any MG, any subprojecl, the Goods and Works financed out of the proc€eds of the Loan, and any relevani records and documents maintained by IUDF 4.04. The Borrower shall promptly take all aclion which shall be necessary to enable MDF to perform its obligations under the Project Agreemenl and shall not take or permit any action which would interfere with MDF'S performance of its Section obligations. 05. (a) The Bonower shall exercise its rights under the Section 4 Proiect lmplementation Agreement rn such a manner as to protect the interests of the Borrower and ADB and to accomplish the purposes of the Loan. (b) No rights or obftgations under the Project lmplementation Agreement shall be assigned, amended, abrogated or lyaived without the prior concunence of ADB. ARTICLE V Susponsion; Acclleratbn ol tf, aturlty 5.01. Section The following are specjfied as additional events for suspension of the right of the Borrower to make withdrawals from the Loan Account tor the purposes of Seclion I 01(m) ol the Loan Regulations: (a) the Bonower or MDF shall have failed to perform any of (s material obligations under the Projecl lmplementalion Agre€ment and/or any lnvestment Financing Agreement. (b) The Charler shall have been amended, suspended, abrogaled, repealed or waived so as to atfect materially and adversely the ability of MDF to perform any of its obligations under the Project Agreement; or 6 (c) The Borrower or any other authority having jurjsdiclion shall have laken any action for the dissolution or disestablishment of MOF or for the suspension of its operations. 502. Section The following is specfied as an additional event for acceleration ol malurily for the purposes ot Section I 07(d) of the Loan Regulations: any of the events specified in Seclion 5.01 of lhis Loan Agreement shall have occur€d and continued for the period of sixty (60) days ARTICLE VI Efrecuvoness ) A dal€ sixty (60) days afrer the date of this Loan Section 6 01 Agreement is specified tor the eflecliveness of the Loan Agreement for lhe purposes of Sectron I 04 of the Loan Regulatrons ARTICLE VII Delogadon ot Authorlty The Borower hereby designates MDF as its agent for Seclion 7 01 the purposes ol taking any action or entering into any agreement required or permitted under Seclions 3 02 of this Loan Agreement and under Sections 5.01, 5.02 and 5 03 of the Loan Regulations. Any action taken or any agreement entered into by MOF Section 7 02 pucuant to the authority confened under Section 7.01 of this Loan Agreement shall be fully binding on the Bonower and shall have the same forc€ and effeqt as if taken by the Borrower. 7.03 The authority conferred on MDF under Seclion 7.01 of Section Loan Agreement may be revoked this or modified by agreement between the Bonower and ADB, ARTICLE VIII Miscellaneous of The l\,4inister Finance the Borrower is Section 8 designated as representative of the Borro$,er lor the purposes of Section 11 02 of the Loan Regulations 01 of 7 The follorving addresses are specified for the purposos Section I 02. of Section 11 01 ofthe Loan Regulations: For the Bonower External Relations Department Ministry of Finance 16 Gorgasali Street, 0114 Tbilisi, Georgia Facsimile Number: (99532) 446461 For ADB ) Asian Development Bank P O. Box 789 0980 Manrla, Phihppines Facsimile Numbers: (632) 636-2444 (632)6364284 lN WITNESS WHEREOF the parties hereto, acting through their representatives thereunto duly aulhorized, have caused this Loan Agreement to be signed in their respeclive names and to be delivered at the principal oflice of ADB, as of the day and year llrst above written IIARI'HIKO (URODA President I SCHEDULE I D$crlption of the Prorect '1. The expec'ted overall impacl of the Project is improved environment and improved public health. The expscted odcome of the Projecl is improved ssrvice delivery and better living conditions within the Project Area. 2. The Projecl includes tho following components: Part A: Proieci Financino Facilitv Providg MDF with r€sources for financing subprojects to incr€ase quality, coverage and reliability of water Bupply, sanitation, solid wasie management, roads, slreel lighting and other municipal servic€s and goods. Part ) B: Proiect Manaoement and Caoacitv Dev€lopment (a) lmprovo capacity of MGs in prepadng and appraising feasibility, engineoring, dssign, environmental, social, and other relatod studios. (b) lmprov€ capacjty in projoct management at municipal tevel (c) Strengthen corporate and business planning processes wilhin MOF, provide training to MDF staff, and improve its c€pacity in conducting studies. 3 The Project is expecled to be completed by 31 December 20'12. 9 SCHEDULE 2 Amortizadon Schedulo (lllunlcipal Servlcer Doyelopmeni ProJect) Paymont ot Period Date Payment Oue Princlpal (orprelr€d ln sDR) 1 2 3 4 '15 February 2017 15 August 2017 15 February 2018 '15 August zUA 11 15 February 2019 15 August 2019 15 February 2020 15 August 2020 15 Fe5ruary 2021 15 August 2021 15 Feb.rua(y 2022 12 13 15 February 2023 5 6 7 I '10 14 15 '16 17 18 19 20 21 22 24 25 26 )7 29 30 3'l '15 August 2022 15 August 2023 15 Fe5ruary 2024 15 August 2024 15 Feuuary 2025 15 August 2025 15 February 2026 15 August 2026 15 February 2027 15 August 2027 15 February 2028 15 August 2028 '15 February 2029 15 August 2029 15 February 2030 15 August 2030 15 February 2031 15 August 2031 15 Feuuary 2032 513,375 513.375 513,375 5't 3,375 513,375 513,375 513.375 5't3.375 513.375 513,375 513,375 513,375 513.375 513.375 513,375 513,375 513,375 513,375 5'13,375 513,375 513,375 513.375 513,375 5'13.375 513,375 513,375 513,375 513.375 513.375 513,375 513,375 10 Schedule 2 Period Payment of Princlpal (expressed in Oate Payment Oue spR) 32 34 JO 38 39 40 I 41 42 43 44 45 46 47 48 15 August 15 February 15 August '15 February 15 Augusl 15 February 15 August 15 February 15 August 15 February 15 August 15 February 15 August 15 February 15 August 15 February 15 August 2032 513,375 2033 2033 5'13,375 513,375 513,375 513,375 5'r3,37s 5'!3,375 513,375 513,375 513,375 513,375 513,375 513,375 513,375 20u 20u 2035 2035 2036 2036 2037 2037 2038 2038 2039 2039 2MO 5'13,375 5'!3,375 513,375 zUO TOTAL '11 SCHEOULE 3 Allocrtlo[ and Wilfidr.wal of Loan Procesd! General The lable attached to this Schedule sets forth the Categories of expenditures to be financed out of the proceeds o, the Loan and the alloc€tion of amounls of the Loan to each such Category (hereinafler called the Table). (Reference to "Category" or "Categories" in this Schedule is to a Calegory or Categories ot the Table and reference to "Subcategory" or "Subcategories" rn this Schedule is to a Subcategory or Subcategories of a Category ) 1 Percentaoes of ADB Financino 2 Except as ADB may otheMise agree, the items of the Categories and Subcategories listed in the Table shall be flnanced out of the proceeds of the Loan on the basis of lhe percentages sel forth in th€ Table. Reallocation 3 Notwithstanding th8 allocation of Loan proceeds and the withdrawal percentages set forth in the Table, (a) if the amount of the Loan allocated to any Category appeaE to be insuffcient to finance all agreed expenditures in that Category, AOB may upon consultation and agreement with the Borrower, (i) reallocate to such Category, lo the elitent required to meet the estimated shortfall, amounts of the Loan which have been allocated to another Category but, in the opinion of ADB, are not needed to meet other expenditures, and (ii) il such reallocation cannot fully meet the estimated shorttall, reduce the withdrawal percenlage applicable to such expenditures in order that further withdrawals under such Category may continue until all expenditures thereunder shall have been made; and (b) if the amount of the Loan then allocated to any Category appears to agreed exceed all expenditures in that Category, ADB may, upon consultation and agreement with the BorTower, reallocate such excess amount to any other Category. Oisbursement Procedures 4 Except as ADB may otherwise agree the Loan proceeds for flnancing Goods, Works, consulting services and other expenditures shall be disbursed in accordance with ADB's Loan Disbursement Handbook lmprest Account: Statement of Expenditures 5. (") Except as ADB may otheMise agree, the Bofiower shall cause lrDF to establish immediately after thB Effective Oale, an imprest account at the Treasury service of the Borrower. The imprest account shall be established, managed, replenished and liquidated in accordance with ADB'S Loan Disbursement Handbook and detailed arrangements agreed upon between the Borower and ADB The currency of lhe imprest 12 Schedule 3 account shall be Dollar. The initial amount to be deposited into the lmpresl account shall not exceed the lower of (i) the estimated expenditure to be financed from the imprest accounl for the first six (6) months of Project rmplementation, or (ii) the equivalent of ten (10) percent of the Loan amount. (b) The statement ot expenditures procedure may be us€d for reimbursement of eligible expendilures and to liquidate advanc€s provided into the impresl account for any individual payment nol exceeding $200,000 Condition of Withdrawals from Loan Account 6 Except as AOB may otheMise agree, no withdrawal shall be made from the Loan Account lor any Category until: (a) the Bonower has submitted to ADB the duly executed Project lmplementation Agreement, satisfactory to AOB; (b) (c) MDF has adopted the Operations Manual; and MDF has submitted to AOB the SAR or the SSR, and the drafr lnvestment Financing Agreement for at least one subproject, all in a form and substance satisfactory to ADB Notwilhstanding any other provision of tiis Loan Agreemenl, no withdrawals shall be made trom the imprest account for any subproject estimated to cost lhe equivalenl of $2,000,000, and more until MDF has submitted to ADB the SAR for the 7 subprolect, in a form and substance satisfactory to ADB Retroactive Financino I Withdrawals from the Loan Account may be made for reimbursement of reasonable eligible expenditures incuned under the Project before the Effective Date, bul not earlier than twelve ('12) months before the date o, this Loan Agreement in connection with lhe recruitment of consultants for feasibility studies, detailed engineering designs, and preparation of bidding documents for subpro,ects, and associated goods, works, and consulting services subject to a maximum amount equivalent to twBnty (20) percent of the Loan amount. The anangemenl for the payment of retroactive financing shall be agreed between the Bonower and AOB 13 Attachment to Schedu e 3 TABLE ALLOCATION AND WITHDRAWAL OF LOAN PROCEEDS (Municlpal Services Dovelopment Proiect) CATEGORY ADB FINANCING BASIS Total Amount Allocated for ADB Flnancino Number Item SDR Category 1 1A Projecl Financing Facility Subcategory 20 946,000 Subprojects under Window 10,473,000 50 percent of total expendilure claimed 10,473,000 85 percent of total expenditure claimed 1 ,| 1B Subprqecls under Window 2 Project Management and 2 Capac(y Development 1,7 47 ,000 (Consultinq Services) 3 lncremental Administration 't 613.000 4 Unallocated 336,000 Total Percentage of ADB Financing from the Loan Accounl 24 642.000 80 percent of total expenditure claimed 85 percent of total expenditure claimed 14 SCHEDULE ,l Procuromont of Goods and Workr, and Consultlng Sorvices A. 1. Gen€ral All Goods, Works and consulting services to be financed out of the procaeds of the Loan shall b6 subject to and gov€med by the Prccurement Guidelines, and the Consulting Guidelines, respectively. 2. All terms used and not othen ise defined in this Loan Agreement hava the m€anings provided in the Procuremeni Guidelines and/or the Consulting Guidelines, as applicable. B. 3. Procurom.nt ot Good! lnd W9IE! Except as AOB may oth€rwise agrce, Goods and Works shall only be procured on the basis of lhs methods of procur6m6nl sel torih b6lo!v: lnternational Competitive Btddinq National Competitive Bddinq Shoooino Direct Contractinq The methods of procurement are subject to, among other things, the detailed arrangements and threshold values sel lorth in the Procurement Plan The Bonower may onty modify the methods of procurement or threshold values with the prior agreement of ADB, and modifications must be set out in updates to the Procurement Plan 4 Domestic Preference. The Borrower may grant a margin of preference in the evaluation of bids under international competitive bidding in accordance with paragraphs 2 55(a) and 2 56 of the Procurement Guidelines for domestically manufactured Goods. 5 National Comoetitive Biddino The Bonower and ADB shall ensure that, prior to the commencament of any procurement activity under national competitive biddrng, lhe Borrower's national competilive bidding proc€dures are consistent with the procurement Guidelines. Any modifications or clarilications lo such procedures agreed between the Borrower and ADB shall be set out in the Procurement Plan. Any subsequent change to the agreed modificatrons and clarifications shall become effective only after written approval of such change by the Borrower and ADB. C. 6 Selection of Consultinq Sorvlces Qualitv- and Cost-Based Selection. Except as ADB may otherwise agree, and except as set lorth in paragraphs 7 and 8 below, the Bonower shall ensure or cause to be ensured that quality- and cost-based selection is applied for setecling and engaging consulting services. Schedule 4 7. The Borrower shall ensure, or cause to be ensured, thal the following methods for selecting and engaging the specified consulting s€rvices are applied, in accordance with, among other things, the procedures s€t forth in the Procurement Plan: Quality-Based Selection Consultants' Qualrfications Selection Least-Cost Selection Fixed budoet selection Sinqle Source Selection 8 The Borrower shall ensure that the individual consultants are recruited in accordance with procedures acceptable to ADB for recruiting individual consultants. D. 9. lndustrial or lntell€ctual Proportv RlqhB (r) The Bonower shall ensure, or cause to be ensured, that all Goods and Works procured (including w hout limitation all computer hardware, software and systems, whether separately procured or incorporat€d within olher goods and services procured) do not violate or infringe any industrial properly or int€lleclual property right or claim of any third party (b) The Borrower shall ensure, o. cause to be ensured, that all conkacts for lhe procurement of Goods and Works contain appropnate representations, warranties and, if aporopflate, indemnities from the contractor or supplier with respect to the matters referred to in subparagraph (a) of this paragraph 10 The Borrower shall ensure, or cause to be ensured, that all ADB-llnanced coniracts with consultants contain appropriate representations, wananties and, if appropriate, indemnities from the consultants to ensure that the consulting servrces provided do not violate or infringe any industrial properly or intellecluat property right or claim of any third party E. AOB'S Review of Procurgment Doclgions 11 All contracts procured under international competitive bidding procedures and conlracts for consulting services shall be subject to prior review by ADB, unless otherwise agreed between MDF and ADB and set forlh in the Procurement plan 16 SCHEDULE 5 Exocution ot Prolsci; Flnancial ilatters Proiecl Executinq Aooncv 1 MDF shall be lhe Projecl Executing Agency responsible for carrying oul the Projeci. Environment and Social Asp€cts 2. The Borrower shall ansure and cause MDF to ensure that the Project is carried out in compliance with the applicable environmental laws and regulations of the Borrower and AOB'S Envirooment Policy (20021 and each subprojecl is screened and/or assess€d in accordance wilh the agreed EARF. Th€ Bonower shall also ensure and cause MDF to ensure that all subprojecls are caried out within the existing right-of-ways and do not involve any land acquisition and,/or resettlement lhat would trigger ADB'S lnvoluntary Resoftlement Policy, (1995) The Bonower shall cause MOF to ensure that the subprojecls are canied out in a socially responsible manner seeking mitigation o, any potential social risks. Proiect Review 3, The Borrower, MDF and ADB shall undertake Project revrew twice a year for the first 2 years ofthe Projeci rmplementation and once a year thereafter A mid-term revrew shall be conducted 2 years after the commencement of the Project implementation The midterm review shall include a detailed evaluation of the Project scope, implementation anangements and progress in achieving scheduled targets and compliance with loan covenants