Conformed Copy - C3283 - Education Quality Improvement Project - Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3283 KH Development Credit Agreement (Education Quality Improvement Project) between KINGDOM OF CAMBODIA and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated September 29, 1999 CREDIT NUMBER 3283 KH DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated September 29, 1999, between KINGDOM OF CAMBODIA (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS the Borrower, having satisfied itself as to the feasibility and priority of the Project described in Schedule 2 to this Agreement, has requested the Association to assist in the financing of the Project; and WHEREAS the Association has agreed, on the basis, inter alia, of the foregoing, to extend the Credit 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 Development Credit Agreements" of the Association, dated January 1, 1985 (as amended through December 2, 1997), with the modifications set forth below (the General Conditions) constitute an integral part of this Agreement: Page 2 (a) paragraph (c) of Section 9.07 of the General Conditions is modified to read as follows: "(c) Not later than six months before the Closing Date or such later date as may be agreed for this purpose between the Borrower and the Association, the Borrower shall prepare and furnish to the Association a report, of such scope and in such detail as the Association shall reasonably request, on the execution of the Project, its cost and the benefits derived and to be derived from it, the performance by the Borrower and the Association of their respective obligations under the Development Credit Agreement and the accomplishment of the purposes of the Development Credit." Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions have the respective meanings therein set forth and the following additional terms, wherever used in this Agreement, have the following meanings: (a) "Applicant" means a school or cluster of schools which shall have applied for a Grant to finance a Subproject, or on whose behalf such an application shall have been made, and the term "Applicants" means collectively more than one Applicant; (b) "Beneficiary" means an Applicant which shall have been determined to be eligible for a Grant, in terms of the eligibility criteria specified in the Grants Operational Manual, and for whose benefit a Grant is provided, or proposed to be provided, and the term "Beneficiaries" means collectively more than one Beneficiary; (c) "Fiscal Year" or "FY" means any twelve (12)-month period commencing on July 1 of any calendar year and ending on July 30 of the calendar year next following, and the term "Fiscal Years" means more than one Fiscal Year; (d) "FTBC" means the Foreign Trade Bank of Cambodia, the Borrower