CONFORMED COPY
LOAN NUMBER 3073 CHA
(Shandong Provincial Highway Project)
between
PEOPLE’S REPUBLIC OF CHINAmassive
and
INTERNATIONAL BANK FOR RECONSTRUCTION
AND DEVELOPMENT
Dated September 8, 1989
LOAN NUMBER 3073 CHA
服装颜色搭配的技巧
LOAN AGREEMENT
AGREEMENT, dated September 8, 1989, between PEOPLE’S REPUBLIC OF CHINA (the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank).
WHEREAS: (A) the Borrower, having satisfied itlf as to the feasibility and priority of the Project described in Schedule 2 to the Development Credit Agreement of even date herewith between the Borrower and the International Development Association (the Association) (the Development Credit Agreement), has requested the Bank to assist in the financing of the Project;
(B)the Borrower has also requested the Association to provide additional financial assistance towards the financing of the Project and by the Development
Credit Agreement the Association is agreeing to provide such assistance in an
aggregate principal amount equivalent to thirty-eight million eight hundred thousand Special Drawing Rights (SDR 38,800,000) (the Credit);
(C)the Borrower and the Bank intend, to the extent practicable, that the
proceeds of the Credit provided for in the Development Credit Agreement be disburd
on account of expenditures on the Project before disburments of the proceeds of the Loan provided for in this Agreement are made;
(D)the Project will be carried out by Shandong Province (Shandong) with the Borrower’s assistance and, as part of such assistance, the Borrower will make
available to Shandong the
proceeds of the Loan as provided in this Agreement and the proceeds of the Credit as provided in the Development Credit Agreement; and
WHEREAS the Bank has agreed, on the basis, inter alia, of the foregoing, to extend the Loan to the Borrower upon the terms and conditions t forth in this Agreement and in the Project Agreement of even date herewith among the Association,
the Bank and Shandong;
NOW THEREFORE the parties hereto hereby agree as follows:
ARTICLE I
General Conditions; Definitions
微中子Section 1.01. The "General Conditions Applicable to Loan and Guarantee Agreements" of the Bank, dated January 1, 1985, with the last ntence of Section 3.02 deleted (the General Conditions) constitute an integral part of this Agreement.
Section 1.02. Unless the context otherwi requires, the veral terms defined
in the General Conditions, in the Development Credit Agreement and in the General Conditions applicable
thereto have the respective meanings therein t forth, and the term "Development
Credit Agreement" means the agreement of even date herewith between the Borrower and the Association for the Project, as such agreement may be amended from time to time, and such term includes the "General Conditions Applicable to Development Credit Agreements" of the Association, dated January 1, 1985, as applied to such agreement, and all schedules and agreements supplemental to the Development Credit Agreement.
中国英文ARTICLE II
The Loan
Section 2.01. The Bank agrees to lend to the Borrower, on the terms and
accommodation翻译conditions t forth or referred to in the Loan Agreement, various currencies that
shall have an aggregate value equivalent to the amount of sixty million dollars
($60,000,000), being the sum of withdrawals of the proceeds of the Loan, with each withdrawal valued by the Bank as of the date of such withdrawal.
Section 2.02. The amount of the Loan may be withdrawn from the Loan Account in accordance with the provisions of Schedule 1 to the Development Credit Agreement for expenditures made (or if
the Bank shall so agree, to be made) in respect of the reasonable cost of goods and rvices required for the Project and to be financed out of the proceeds of the Loan.
Section 2.03. The Closing Date shall be June 30, 1995 or such later date as the Bank shall establish. The Bank shall promptly notify the Borrower of such later date.
Section 2.04. The Borrower shall pay to the Bank a commitment charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Loan not withdrawn from time to time.
Section 2.05. (a) The Borrower shall pay interest on the principal amount of the Loan withdrawn and outstanding from time to time, at a rate for each Interest Period equal to the Cost of Qualified Borrowings determined in respect of the preceding Semester, plus one-half of one percent (1/2 of 1%). On each of the dates specified in Section 2.06 of this Agreement, the Borrower
shall pay interest accrued on the principal amount outstanding during the preceding Interest Period, calculated at the rate applicable during such Interest Period.
(b)As soon as practicable after the end of each Semester, the Bank shall
notify the Borrower of the Cost of Qualified Borrowings determined in respect of such Semester.
(c)For the purpos of this Section:
(i)"Interest Period" means a six-month period ending on the date immediately preceding each date specified in Section 2.06 of this Agreement, beginning with the Interest Period in which this Agreeme
nt is signed.
(ii)"Cost of Qualified Borrowings" means the cost, as reasonably determined by the Bank and expresd as a percentage per annum, of the outstanding borrowings of the bank drawn down after June 30, 1982, excluding such borrowings or portions thereof as the Bank has allocated to fund: (A) the Bank’s investments; and (B) loans which may be made by the Bank after July 1, 1989 bearing interest rates determined otherwi than as provided in paragraph (a) of this Section.
(iii)"Semester" means the first six months or the cond six months of a calendar year.
(d)On such date as the Bank may specify by no less than six months’ notice
to the Borrower, paragraphs (a), (b) and (c) (iii) of this Section shall be amended to read as follows:
"(a) The Borrower shall pay interest on the principal amount of the Loan withdrawn and outstanding from time to time, at a rate for each Quarter equal to
the Cost of Qualified Borrowings determined in respect of the preceding Quarter, plus one-half of one percent 1/2 of 1%). On each of the dates specified in Section
2.06 of this Agreement, the Borrower shall pay interest accrued on the principal amount outstanding during the preceding Interest Period, calculated at the rates applicable during such Interest Period."
"(b) As soon as practicable after the end of each Quarter, the Bank shall notify the Borrower of the Cost of Qualified Borrowings determined in respect of
such Quarter."
"(c) (iii) ’Quarter’ means a three-month period commencing on January 1, April 1, July 1 or October 1 in a calendar year."
(e)Notwithstanding the provisions of paragraph (a) of this Section, the interest rate for the Interest Period commencing in the first Semester of 1989 shall
be ven and sixty-five
hundredths percent (7.65%).
Section 2.06. Interest and other charges shall be payable miannually on April 1 and October 1 in each year.
Section 2.07. The Borrower shall repay the principal amount of the Loan in accordance with the amortization schedule t forth in the Schedule to this Agreement.
ARTICLE III
Execution of the Project
Section 3.01. (a) Subject to paragraph (b) of this Section, Sections 2.02 (b), 3.01, 3.02 and 4.01 of the Development Credit Agreement, and Schedules 1, 2, 3 and 4 thereto, are incorporated
in the Loan Agreement, with the following modifications in said Sections (except for Section 3.01 (b)) and Schedules 2 and 3:
(i)the term "Association" shall be read as "Bank";
(ii)the terms "Credit" and "Credit Account" shall be read as "Loan"
and "Loan Account"; and
(iii)the term "this Agreement" shall refer to the Development Credit
Agreement.
(b)So long as any part of the Credit provided for under the Development Credit Agreement shall remain outstanding, and unless the Borrower has been notified otherwi by the Bank:
(i)all actions taken, including approvals given, by the Association pursuant to any of the Sections of, and Schedules to, the Development Credit Agreement enumerated in paragraph (a) of this Section, as well as pursuant to Section 2.02 (a) of the Development Credit Agreement, shall be deemed to be taken or given in the name and on behalf of both the Association and the Bank; and
(ii)all information or documentation furnished by the Borrower to the Association pursuant to the provisions of any of such Sections of the Development Credit Agreement or Schedules thereto shall be deemed to be furnished to both the Association and the Bank.
Section 3.02. The Bank and the Borrower hereby agree that the obligations t forth in Sections 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09 of the General Conditions (relating to insurance, u of goods and rvices, plans and schedules, records and reports, maintenance and land acquisition, respectively) shall be carried out by Shandong pursuant to Section 2.03 of the Project Agreement.
ARTICLE IV
Remedies of the Bank
Section 4.01. Pursuant to Section 6.02 (k) of the General Conditions, the following additional events are specified, namely, the events t out in Section 5.01 of the Development Credit Agreement.
Section 4.02. Pursuant to Section 7.01 (h) of the General Conditions, the following additional event is specified, namely, the event t out in Section 5.02 of the Development Credit
Agreement, provided, however, that the term "Association" wherever it appears in such Section shall be read as "Bank".
ARTICLE V
Effective Date; Termination
Section 5.01. The following events are specified as additional conditions to the effectiveness of the Loan Agreement within the meaning of Section 12.01 (c) of the General Conditions:
(a)the Borrower’s State Council has approved the Loan Agreement; and
(b)all conditions precedent to the effectiveness of the Development Credit Agreement have been fulfilled, other than tho related to the effectiveness of this Agreement.
Section 5.02. The date ninety (90) days after the date of this Agreement is hereby specified for the purpos of Section 12.04 of the General Conditions.
Section 5.03. If the Development Credit Agreement terminates prior to the termination of this Agreement, the provisions of the Development Credit Agreement referred to in this Agreement shall continue in full force and effect between the Borrower and the Bank.
ARTICLE VI
Reprentative of the Borrower; Address
Section 6.01. The Minister of Finance of the Borrower is designated as reprentative of the Borrower for the purpos of Section 11.03 of the General Conditions.
Section 6.02. The following address are specified for the purpos of Section 11.01 of the General Conditions.
For the Borrower:
Ministry of Finance
Sanlihe
Beijing, 100820
People’s Republic of China
Cable address:Telex:
FINANMIN22486 MFPRC CN
Beijing
For the Bank:
International Bank forallot
Reconstruction and Development
1818 H Street, N.W.
Washington, D.C. 20433
United States of America
Cable address:Telex:
INTBAFRAD440098 (ITT)
Washington, D.C.248423 (RCA) or
64145 (WUI)
IN WITNESS WHEREOF, the parties hereto, acting through their duly authorized reprentatives, have caud this Agreement to be signed in their respective names in the District of Columbia, United States of America, as of the day and year first above written.
PEOPLE’S REPUBLIC OF CHINA
gooloBy /s/ Zhao Xixin
Authorized Reprentative INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPMENT
By /s/ A. Karaosmanoglu
predestinationRegional Vice President
count onAsia
披着羊皮的狼SCHEDULE
Amortization Schedule
Payment of Principal
Date Payment Due(Expresd in dollars)*
October 1, 1994 1,100,000
April 1, 1995 1,145,000
October 1, 1995 1,185,000
April 1, 1996 1,235,000
October 1, 1996 1,280,000
