India - Upper Indravati Hydro Project : Loan 2278 - Project Agreement - 1 - Conformed

AL REDIT NUMBER 1356 IN OAN NUMBER 2278 IN Project Agreement (Upper Indravati Hydro Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and STATE OF ORISSA Dated 1983 CREDIT NUMBER 1356 IN LOAN NUMBER 2278 IN PROJECT AGREEMENT AGREEMENT, dated J , 1983, between INTERNATIONAL DEVELOPMENT ASSOCIATION (hereinafter called the Association), INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOP- MENT (hereinafter called the Bank) and STATE OF ORISSA, acting by its Governor (hereinafter called Orissa). WHEREAS by the Development Credit Agreement of even date herewith between India, acting by its President (hereinafter called the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to one hundred fifty-six million Special Drawing Rights (SDR 156,000,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition that Orissa agree to undertake such obligations toward the Asso- ciation as are hereinafter set forth; WHEREAS by the Loan Agreement of even date herewith between the Borrower and the Bank, the Bank has agreed to make available to the Borrower an amount in various currencies equivalent to one hundred fifty-six million four hundred thousand dollars ($156,400,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that Orissa agree to undertake such obligations toward the Bank as are hereinafter set forth; WHEREAS the Project will be carried out by Orissa with the Borrower's assistance and, as part of such assistance, the pro- ceeds of the Credit provided for under the Development Credit Agreement and the proceeds of the Loan provided for under the Loan Agreement will be made available to Orissa by the Borrower; and WHEREAS Orissa, in consideration of the Association's and the Bank's entering into the Development Credit Agreement and the Loan Agreement, respectively, with the Borrower, has agreed to undertake the obligations hereinafter set forth; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I Definitions Section 1.01. Wherever used in this Agreement, unless the context shall otherwise require, the several terms defined in the -2- Development Credit Agreement and in the General Conditions applicable thereto, and in the Loan Agreement and in the General Conditions -applicable thereto have the respective meanings there- in set forth and the term "Board" means the Orissa State Elec- tricity Board established under the provisions of the Electricity (Supply) Act, 1948 of the Borrower. ARTICLE II Execution of the Project Section 2.01. Orissa shall carry out the Project described in Schedule 2 to the Development Credit Agreement with due dili- gence and efficiency and in conformity with appropriate adminis- trative, financial, engineering and public utility practices. Section 2.02. Except as the Association and the Bank shall otherwise agree, procurement of the goods and civil works re- quired for the Project and to be financed out of the proceeds of the Credit and of the Loan shall be governed by the provisions of the Schedule to this Agreement. Section 2.03. (a) Orissa undertakes to insure, or make ade- quate provision for the insurance of, the imported goods to be financed out of the proceeds of the Credit and of the Loan made available to it by the Borrower against hazards incident to the acquisition, transportation and delivery thereof to the place of use or installation, and for such insurance any indemnity shall be payable in a- currency freely usable by Orissa to replace or repair such goods. (b) Except as the Association and the Bank may otherwise agree, Orissa shall cause all goods and services financed out of the proceeds of the Credit and of the Loan made available to it by the Borrower to be used exclusively for the purposes of the Project. Section 2.04. (a) Orissa shall furnish to the Association and the Bank, promptly upon their preparation, the plans, speci- fications, reports, contract documents and construction and pro- curement schedules for the Project, and any material modifica- tions thereof or additions thereto, in such detail as the Asso- ciation and the Bank shall reasonably request. -3- (b) Orissa shall: (i) maintain records and procedures ade- quate to record and monitor the progress of the Project (includ- ing its cost and the benefits to be derived from it), to identify the goods and services financed out of the proceeds of the Credit and of the Loan, and to disclose their use in the Project; (ii) enable the Association's and the Bank's representatives to visit the facilities and construction sites included in the Project and to examine the goods financed out of the proceeds of the Credit and of the Loan and any relevant records and documents; and (iii) furnish to the Association and the Bank at regular intervals all such information as the Association and the Bank shall reasonably request concerning the Project, its cost and, where appropriate, the benefits to be derived from it, the expenditures of such pro- ceeds and the goods and services financed out of such proceeds. (c) Upon the award by Orissa of any contract for goods, works or services to be financed out of the proceeds of the Credit and of the Loan, the Association and the Bank may publish a description thereof, the name and nationality of the party to whom the contract was awarded and the contract price. (d) Promptly after completion of the Project, but in any event not later than six months after the Closing Date or such later date as may be agreed for this purpose between Orissa, the Association and the Bank, Orissa shall prepare and furnish to the Association a report, of such scope and in such detail as the Association and the Bank shall reasonably request, on the exe- cution and initial operation of the Project, its cost and the benefits derived and to be derived from it, the performance by Orissa, the Association and the Bank of their respective obligations under the Project Agreement and the accomplishment of the purposes of the Credit and of the Loan. (e) Orissa shall enable the Association's and the Bank's representatives to examine all plants, installations, sites, works, buildings, property, equipment, records and documents relevant to the performance of Orissa's obligations under this Agreement. Section 2.05. (a) Orissa shall, at the request of the Asso- ciation and the Bank, exchange views with the Association and the Bank with regard to the progress of the Project, the performance of its obligations under this Agreement and other matters rela- ting to the purposes of the Credit and of the Loan. -4- (b) Orissa shall promptly inform the Association and the Bank of any condition which interferes or threatens to interfere with the progress of the Project, the accomplishment of the pur- poses of the Credit and of the Loan, or the performance by Orissa of its obligations under this Agreement. ARTICLE III Particular Covenants Section 3.01. (a) Orissa shall cause its departments and other agencies and authorities responsible for carrying out the Project or any part thereof to: (i) maintain separate records and accounts adequate to reflect, in accordance with sound accounting principles and procedures consistently applied, its resources, expenditures and operations related to the project; and (ii) fur- nish to the Association and the Bank copies of their accounts and financial statements related to the Project for each fiscal year, certified as to their accuracy and authenticity by an independent auditor acceptable to the Association and the Bank, as soon as available but in any case not later than nine months after the end of such year. (b) Orissa shall cause its departments and other agencies and authorities responsible for carrying out the Project or any Part thereof to: (i) have their accounts and financial statements related to the Project for each fiscal year audited, in accor- dance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association and the Bank; (ii) furnish to the Association and the Bank immediately following its finalization, the report of such audit by said auditors, of such scope and in such detail as the Association and the Bank shall have reasonably requested; and (iii) furnish to the Association and the Bank such other information concerning such accounts and records, financial statements and the audit thereof as the Association and the Bank shall from time to time reasonably request. Section 3.02. Orissa shall, under arrangements agreed with the Association and the Bank, cause the dams, dykes and channels constructed under the Project, to be periodically inspected in accordance with sound engineering practice in order to determine whether there are any deficiencies in the condition of such structures, or in the quality and adequacy of maintenance or - 5 - methods of operations of the same, which may endanger their safety. Section 3.03. For the purpose of resettlement of families displaced from areas submerged as a result of the carrying out of the Project, Orissa shall, not less than two years before causing submergence of any land covered by the Project, formulate a resettlement plan, with an implementation schedule, and shall thereafter implement said plan. Section 3.04. Orissa shall limit, in each fiscal year begin- ning with fiscal year ending on March 31, 1984, its annual sub- sidy to the Board in respect of rural electrification operations to 10% of the Board's gross revenues from the sale of electri- city, and in any case not exceeding the amount by which the Board's operating costs in respect of rural electrification oper- ations exceed its gross revenues from such operations in that fiscal year. For the purposes of this paragraph (i) the term "operating costs" means all costs incurred by the Board on account of its rural electrification operations, including ex- penses of administration, maintenance and taxes or any payments in lieu of taxes, if any, and provision for depreciation and interest and other charges on debt; (ii) the term "gross reve- nues" means revenues from all sources related to the Board's rural electrification operations; (iii) the term "debt" means any debt incurred by the Board maturing by its terms more than one year after the date on which it is originally incurred; and (iv) the term "incurring of debt" includes the assumption and guaran- tee of debt and any renewal, extension or modification of the terms of the debt or of the assumption or guarantee thereof and, for this purpose, .debt shall be deemed to be incurred (A) under a contract, loan agreement or other instrument providing for such debt or for the modification of its terms of payment, on the date and to the extent the amount of the loan is drawn down and out- standing pursuant to such contract, agreement or instrument, and (B) under a guarantee agreement, on the date the agreement provi- ding for such guarantee has been entered into but only to the extent that the guaranteed debt is outstanding. Section 3.05. Orissa shall 'make arrangements for such water releases for the power house to be installed under Part B of the Project as shall be sufficient to generate energy and peak power appropriate to the electrical demand throughout the year. -6- Section 3.06. Orissa shall furnish to the Association and the Bank the report resulting from the review being carried out by the consultants of the existing construction management and accounting procedures of the Irrigation and Power Department of Orissa, and shall, after taking into account the comments, if any, of the Association and the Bank, implement such recommenda- tions arising from said report as may be accepted by Orissa. Section 3.07. Orissa shall construct or cause to be con- structed, by the completion date of the Project, necessary trans- mission lines to evacuate the power generated from the facilities installed under the Project. Section 3.08. Upon commissioning of all the generators included under Part B of the Project, Orissa shall transfev the facilities to the Board on terms and conditions which shall, sub- ject to the provisions of the Electricity (Supply) Act, 1948, as amended, of the Borrower, include, inter alia, that (i) the value of assets to be transferred shall be equivalent to the full cost, including interest accrued during construction, of the identifi- able power components, together with 50% of the common reservoir costs; and (ii) the Board shall repay an amount, as a loan, equi- valent to the value of transferred assets over a period of 25 years with a rate of interest then applicable for lending by Orissa to the Board or 7-1/2% per annum, whichever shall be higher, on the full value of such assets. Section 3.09. Orissa shall cause the Board to: (i) carry on its operations and conduct its affairs in accordance with sound administrative, financial, engineering and public utility prac- tices under the supervision of qualified and experienced manage- ment assisted by competent staff in adequate numbers; (ii) at all times operate and maintain its plant, machinery, equipment and other property, and from time to time, promptly as needed, make all necessary repairs and renewals thereof, all in accordance with sound engineering, financial engineering and public utility practices; and (iii) take out and maintain with responsible insurers, or make other provisions satisfactory to the Associa- tion and the Bank for, insurance against such risks and in such amounts as shall be consistent with appropriate practice. Section 3.10. In order to assist the Board in the intro- duction and thereafter implementation of a commercial accounting system, and for the timely submission of audited accounts, Orissa shall cause the Poard to employ consultants whose qualifications, - 7 - experience and terms of reference shall be satisfactory to the Association and the Bank. Section 3.11. Orissa shall cause the Board to: (a) maintain records adequate to reflect in accordance with consistently main- tained appropriate accounting practices its operations and finan- cial condition; (b) have its accounts and financial statements (balance sheets, statements of income and expenses and related statements) for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association and the Bank; (c) beginning with the fiscal year 1984/85, furnish to the Association and the Bank as soon as available, but in any case not later than six months after the end of each such year, (i) certified copies of its financial statements for such year as so audited, and (ii) the report of such audit by said auditors, of such scope and in such detail as the Association and the Bank shall have reasonably requested; and (d) furnish to the Association and the Bank such other information concerning said accounts, financial statements, records and expenditures, as well as the audit thereof, as the Association and the Bank shall from time to time reasonably request. Section 3.12. Orissa shall cause the Board to introduce, from April 1, 1984, a uniform commercial accounting system satis- factory to the Borrower. Section 3.13. Orissa shall cause the Board to take all action necessary on its part to ensure that, with effect from financial year 1984, the level of its receivables from consumers do not exceed the equivalent of three months' billings of its electricity sales. Section 3.14. Orissa shall cause the Board to prepare and furnish to the Association and the Bank by March 31, 1984 a pro- gram to control its energy losses to acceptable levels, and to implement said program with effect from fiscal year 1984/85. Section 3.15. Orissa shall cause the Board to take from time to time all such measures as shall be required to produce in each -8- fiscal year beginning with fiscal year ending on March 31, 1983, a contribution to investment equivalent to not less than 20% of the annual average of its capital expenditures in respect of the generation, transmission and distribution of electricity supply. For the purposes of this paragraph (i) the term "contribution to investment" means, for each fiscal year, the gross revenues from all sources related to the Board's operations, consumer contri- butions in aid of construction, consumer's security deposits, net non-operating income and any amounts received by the Board as subsidy in accordance with the provisions of Section 3.03 of this Agreement less all expenses incurred on account of such operat- ions, including expenses of administration and maintenance (ex- cluding depreciation and other non-cash operating charges) interest and other charges on debt (excluding interest charged to construction), repayment of loans (including sinking fund pay- ments, if any), and .less 4% of any accumulated arrears of interest and principal on such loans as at the fiscal year end, except where payments of such arrears have been made exclusively from proceeds of new loans, taxes or payments in lieu of taxes, if any, and cash dividends, and (ii) the term "annual average of capital expenditures" means the average of all expenditures incurred on account of fixed or capital assets, including in- terest charged to construction, incurred, or on the basis of realistic forecasts expected to be incurred, during that fiscal year, the previous year and the next following year. Section 3,16. For the purposes of improving the tariff structure of the Board, Orissa shall cause the Board to review its tariffs, and in consultation with the Borrower, to introduce. from time to time such improvements as may be considered appro- priate. ARTICLE IV Effective Date; Termination; Cancellation and Suspension Section 4.01. This Agreement shall come into force and effect on the date upon which the Development Credit Agreement and the Loan Agreement become effective. Section 4.02. (a) This Agreement and all obligations of the Association, the Bank and of Orissa thereunder shall terminate on the earlier of the following two dates: - 9 - (i) the date on which the Development Credit Agreement and the Loan Agreement shall terminate in accor- dance with their respective terms; or (ii) a date thirty years after the date of this Agree- ment. (b) If the Development Credit Agreement and the Loan Agree- ment terminate in accordance with their terms before the date specified in paragraph (a) (ii) of this Section, the Association and the Bank shall promptly notify Orissa of this event. Section 4.03. All the provisions of this Agreement shall continue in full force and effect notwithstanding any cancella- tion or suspension under the Development Credit Agreement or the Loan Agreement. ARTICLE V Miscellaneous Provisions Section 5.01. Any notice or request required or permitted to be gixen or made under this Agreement and any agreement between the parties contemplated by this Agreement shall be in writing. Such notice or request shall be deemed to have been duly given or made when it shall be delivered by hand or by mail, telegram, cable, telex or radiogram to the party to which it is required or permitted to be given or made at such party's address hereinafter specified or at such other address as such party shall have designated by notice to the party giving such notice or making such request. The addresses so specified are: For the Association: International Development Association 1818 H Street, N.W. Washington, D.C. 20433 United States of America Cable address: INDEVAS Washington, D.C. - 10 - For the Bank: International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Cable address: INTBAFRAD Washington, D.C. For Orissa: Secretary to the Government of Orissa Irrigation and Power Department Bhubaneswar, Orissa Cable address: CHIEFSEC Bhubaneswar Section 5.02. Any action required or permitted to be taken, and any document required or permitted to be executed, under this Agreement on behalf of Orissa may be taken or executed by a Secretary to the Government of Orissa or such other person or persons as Orissa shall designate in writing, and Orissa shall furnish to the Association sufficient evidence of the authority and the authenticated specimen signature of each such person. Section 5.03. As long as the Bank has not given notice to the contrary to Orissa and so long as the Development Credit Agreement shall not have terminated prior to the termination of the Loan Agreement: (a) the obligations of Orissa to consult with, and to furnish information, documents, plans, reports, records and statements to the Bank shall be satisfied to the extent performance in respect of such obligations is rendered to the Association; (b) the obligations of the Bank to consult with, and to furnish information to Orissa shall be satisfied to the extent such obligations are fulfilled by the Association; and (c) all actions taken (including the giving of approvals or the granting of waivers) by the Association pursuant to the Develop- ment Credit Agreement shall be deemed to be taken pursuant to - 11 - both the Development Credit Agreement and the Loan Agreement and in the name and on behalf of both the Association and the Bank. Section 5.04. This Agreement may be executed in several counterparts, each of which shall be an original, ard all col- lectively but one instrument. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused 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. INTERNATIONAL DEVELOPMENT ASSOCIATION Byh d 'a e Regional Vice President South Asia INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By/ //eginal Vice President South Asia STATE OF ORISSA By Authorized Representative - 12 - SCHEDULE Procurement A. International Competitive Bidding 1. Except as provided in Part D hereof, goods and civil works shall be procured under contracts awarded in accordance with procedures consistent with those set forth in the current edition of the "Guidelines for Procurement under World Bank Loans and IDA Credits" published by the Bank in March 1977 (hereinafter called the Guidelines), on the basis of international competitive bid- ding as described in Part A of the Guidelines. 2. For goods and works to be procured on the basis of inter- national competitive bidding, in addition to the requirements of paragraph 1.2 of the Guidelines, Orissa shall prepare and forward to the Association and the Bank as soon as possible, and in any event not later than 60 days prior to the date of availability to the public of the first tender or prequalification documents relating thereto, as the case may be, a general procurement notice, in such form and detail and containing such information as the Association and the Bank shall reasonably request; the Association and the Bank will arrange for the publication of such notice in order to provide timely notification to prospective bidders of the opportunity to bid for the goods and works in question. Orissa shall provide the necessary information to update such notice annually so long as any goods or works remain to be procured .on the basis of international competitive bidding. 3. For the purpose of evaluation and comparison of bids for the supply of goods to be procured on the basis of international com- petitive bidding: (i) bidders shall be required to state in their bid the c.i.f (port of entry) price for the imported goods, or the ex-factory price or off-the-shelf price of other goods, offered in such bid; (ii) customs duties and other import taxes levied in connection with the importation, or the sales and simi- lar taxes levied in connection with the sale or delivery,pursuant to the bid, of the goods shall not be taken into account in the evaluation of the bids; and (iii) the cost of inland freight and other expenditures incidental to the delivery of the goodh to the place of their use or installation shall be included. - 13 - B. Preference for Domestic Manufacturers In the procurement of goods in accordance with the proce- dures described in Part A of this Schedule, goods manufactured in India may be granted a margin of preference in accordance with, and subject to, the following provisions: 1. All bidding documents for the procurement of goods shall clearly indicate any preference which will be granted, the information required to establish the eligibility of a bid for such preference and the following methods and stages that will be followed in the evaluation and comparison of bids. 2. After evaluation, responsive bids will be classified in one of the following three groups: (1) Group A: bids offering goods manufactured in India if the bidder shall have established to the satis- faction of the Borrower, the Association and the Bank that the manufacturing cost of such goods includes a value added in India equal to at least 20% of the ex-factory bid price of such goods. (2) Group B: all other domestic bids. (3) Group C: bids offering any other goods. 3. In order to determine the lowest evaluated bid of each group, all evaluated bids in each group shall first be compared among themselves, without taking into account customs duties and other import taxes levied in connection with the importation, and sales and similar taxes levied in connection with the sale or delivery, pursuant to the bids, of the goods. Such lowest eva- luated bids shall then be compared with each other, and if, as a result of this comparison, a bid from group A or group B is the lowest, it shall be selected for the award. 4. If, as a result of the comparison under paragraph 3 above, the lowest bid is a bid from group C, all group C bids shall be further compared with the lowest evaluated bid from group A after adding to the evaluated bid price of the imported goods offered in each group C bid, for the purpose of this fur- ther comparison only, an amount equal to: (i) the amount of cus- toms duties and other import taxes which a non-exempt importer would have to pay for the importation of the goods offered in - 14 - such group C bid; or (ii) 15% of the c.i.f. bid price of such goods if said customs duties and taxes exceed 15% of such price. If the group A bid in such further comparison is the lowest, it shall be selected for the award; if not, the bid from group C which as a result of the comparison under paragraph 3 is the lowest evaluated bid shall be selected. C. Preference for Domestic Contractors With respect to the evaluation of bids for any contract for civil works included under Categories (1) and (2) of the table set forth in Schedule 1 to the Development Credit Agreement and to be procured in accordance with the procedures described in Part A of this Schedule, Orissa may grant a margin of preference of 7-1/2% to domestic contractors, in accordance with, and sub- ject to, the following.provisions: 1. Contractors applying for such preference shall be asked to provide, as part of the data for qualification, such informa- tion, including details of ownership, as shall be required to determine whether, according to the classification established by the Borrower and accepted by the Association and the Bank, a particular firm or group of firms qualifies for a domestic pre- ference. The bidding documents shall clearly indicate the pre- ference and the method that will be followed in the evaluation and comparison of bids to give effect to such preference. 2. After bids have been received and reviewed by Orissa, responsive bids will be classified into the following groups: (i) bids offered by domestic contractors eligible for preference; and (ii) bids offered by other contractors. For the purpose of evaluation and comparison of bids an amount equal to 7-1/2% of the bid amount shall be added to bids received under group (ii) above. D. Other Procurement Procedures 1. Contracts for civil works for link channels, dykes, head- race, approach channel, power house excavation, access roads, site buildings, staff quarters and power distribution in the area of the Project may be let on the basis of competetive bidding - 15 - advertised locally in accordance with procedures satisfactory to the Association and the Bank. 2. Contract for tools and plant, and miscellaneous equipment and materials, up to an aggregate amount of equivalent to $14,000,000 may be procured on the basis of competitive bidding advertised locally in accordance with procedures satisfactory to the Association and the Bank. E. Review of Procurement Decisions by the Association 1. Review of invitations to bid and of proposed awards and final contracts: With respect to all contracts estimated to cost the equiva- lent of $500,000 or more: (a) Before bids are invited, Orissa shall furnish to the Association and the Bank, for its comments, the text of the invi- tations to bid and the specifications and other bidding docu- ments, together with a description of the advertising procedures to be followed for the bidding, and shall make such modifications in the said documents or procedures as the Association and the Bank shall reasonably request. Any further modification to the bidding documents shall require the Association's and the Bank's concurrence before it is issued to the prospective bidders. (b) After bids have been received and evaluated, Orissa shall, before a final decision on the award is made, inform the Association and the Bank of the name of the bidder to which it intends to award the contract and shall furnish to the Associa- tion and the Bank, in sufficient time for its review, a detailed report on the evaluation and comparison of the bids received, and such other information as the Association and the Bank shall reasonably request. The Association and the Bank shall, if they determine that the intended award would be inconsistent with the Guidelines or this Schedule, promptly inform Orissa and state the reasons for such determination. (c) The terms and conditions of the contract shall not, without the Association's and the Bank's concurrence, materially differ from those on which bids were asked or prequalification was invited. - 16 - (d) Two conformed copies of the contract shall be furnished to the Association and the Bank promptly after its execution and prior to the submission to the Association and the Bank of the first application for withdrawal of funds from the Credit Account and the Loan Account in respect of such contract. 2. With respect to each contract not governed by the preceding paragraph, Orissa shall furnish to the Association and the Bank, promptly after its execution and prior to the submission to the Association and the Bank of the first application for withdrawal of funds from the Credit Account and the Loan Account in respect of such contract, two conformed copies of such contract, together with the analysis of the respective bids, recommendations for award and such other information as the Association and the Bank shall reasonably request. The Association and the Bank shall, if they determine that the award of the contract was not consistent with the Guidelines or this Schedule, promptly inform Orissa and state the reasons for such determination. 3. Before agreeing to any material modification or waiver of the terms and conditions of a contract, or granting an extension of the stipulated time for performance of such contract, or issu- ing any change order under such contract (except in cases of extreme urgency) which would increase the cost of the contract by more than 15% of the original price, Orissa shall inform the Association and the Bank of the proposed modification, waiver, extension or change order and the reasons therefor. The Associa- tion and the Bank, if they determine that the proposal would be inconsistent with the provisions of this Agreement, shall prompt- ly inform Orissa and state the reasons for its determination. INTERNATIONAL DEVELOPMENT ASSOCIATION CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the Interna- tional Development Association. In witness whereof I have signed this Certifi- cate and affixed the Seal of the Association thereunto the -day of 198 3 FOR ECRETARY INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the Interna- tional Bank for Reconstruction and Develop- ment. In witness whereof I have signed this Certifi- cate and affixed the Seal of the Bank thereunto this L day of . 198 3. FOR SECRETARY