Conformed Copy - L4534 - Kiev Public Buildings Energy Efficiency Project - Project Agreement

Page 1 CONFORMED COPY LOAN NUMBER 4534 UA Project Agreement (Kiev Public Buildings Energy Efficiency Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and KIEV CITY STATE ADMINISTRATION Dated April 25, 2000 LOAN NUMBER 4534 UA PROJECT AGREEMENT AGREEMENT, dated April 25, 2000, between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and KIEV CITY STATE ADMINISTRATION (Kiev CSA). WHEREAS (A) by the Loan Agreement of even date herewith between Ukraine (the Borrower) and the Bank, the Bank has agreed to make available to the Borrower an amount equal to eighteen million two hundred ninety thousand Dollars ($18,290,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that Kiev CSA agrees to undertake such obligations toward the Bank as are set forth in this Agreement; (B) by a Subsidiary Loan agreement to be entered into between the Ministry of Finance of Ukraine, acting as a representative of the Borrower, and Kiev CSA, the proceeds of the loan provided for under the Loan Agreement will be made available to Kiev CSA on the terms and conditions set forth in said Subsidiary Loan Agreement; and WHEREAS Kiev CSA, in consideration of the Bank