Conformed Copy - L4150 - Provincial Agricultural Development Project - Loan Agreement

Page 1 CONFORMED COPY LOAN NUMBER 4150-AR Loan Agreement (Provincial Agricultural Development Project) between ARGENTINE REPUBLIC and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated January 20, 1998 LOAN NUMBER 4150-AR LOAN AGREEMENT AGREEMENT, dated January 20, 1998, between ARGENTINE REPUBLIC (the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank). WHEREAS (A) the Borrower, having satisfied itself as to the feasibility and priority of the Project described in Schedule 2 to this Agreement, has requested the Bank to assist in the financing of the Project; (B) the Borrower has contracted from Inter-American Development Bank (IDB) a loan in an amount equivalent to $125,000,000 (the IDB Loan) to assist in financing the Project on the terms and conditions set forth in an agreement dated March 26, 1996 between the Borrower and IDB; 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 set forth in this Agreement; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section 1.01. The "General Conditions Applicable to Loan and Guarantee Agreements for Single Currency Loans" of the Bank, dated May 30, 1995, with the modification of Section 6.03 set forth below (the General Conditions) constitute an integral part of this Agreement: "Section 6.03. Cancellation by the Bank. If (a) the right of the Borrower to make withdrawals from the Loan Account shall have been suspended with respect to any amount of the Loan for a continuous period of thirty days, or (b) at any time, the Bank determines, after consultation with the Borrower, Page 2 that an amount of the Loan will not be required to finance the Project