Conformed Copy - C2952 - Third Andhra Pradesh Irrigation Project - Project Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 2952-IN LOAN NUMBER 4166-IN Project Agreement (Third Andhra Pradesh Irrigation Project) among INTERNATIONAL DEVELOPMENT ASSOCIATION and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and STATE OF ANDHRA PRADESH Dated June 3, 1997 CREDIT NUMBER 2952-IN LOAN NUMBER 4166-IN PROJECT AGREEMENT AGREEMENT, dated June 3, 1997, among INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and the STATE OF ANDHRA PRADESH (Andhra Pradesh). WHEREAS (A) by the Development Credit Agreement of even date herewith between India (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to one hundred eight million one hundred thousand Drawing Rights (SDR 108,100,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition that Andhra Pradesh agree to undertake such obligations toward the Association as are set forth in this Agreement; (B) 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 equal to one hundred seventy five million dollars ($175,000,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that Andhra Pradesh agree to undertake such obligations toward the Bank as are set forth in this Agreement; (C) the Project will be carried out by the State of Andhra Pradesh with the Page 2 Borrower