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Page 1 CONFORMED COPY CREDIT NUMBER 3217-MAG CBM Project Agreement (Microfinance Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and CENTRAL BANK OF MADAGASCAR Dated June 10, 1999 CREDIT NUMBER 3217-MAG CBM PROJECT AGREEMENT AGREEMENT, dated June 10, 1999 between INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and CENTRAL BANK OF MADAGASCAR (CBM). WHEREAS (A) by the Development Credit Agreement of even date herewith between REPUBLIC OF MADAGASCAR (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to twelve million one hundred thousand Special Drawing Rights (SDR