Conformed Copy - C3588 - Energy for Rural Transformation Project - Global Environment Facility Trust Fund Project Agreement

Page 1 CONFORMED COPY GEF TRUST FUND GRANT NUMBER TF 050371 UG Global Environment Facility Trust Fund Project Agreement (Energy for Rural Transformation Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT acting as an Implementing Agency of the Global Environment Facility and PRIVATE SECTOR FOUNDATION Dated December 20, 2001 GEF TRUST FUND GRANT NUMBER 050371 UG GLOBAL ENVIRONMENT FACILITY TRUST FUND PROJECT AGREEMENT AGREEMENT, dated December 20, 2001, between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) acting as an implementing agency of the Global Environment Facility (GEF) in respect of grant funds provided to the GEF Trust Fund by certain members of the Bank as participants of the GEF and PRIVATE SECTOR FOUNDATION (PSF). WHEREAS (A) by the GEF Trust Fund Grant Agreement of even date herewith between the Republic of Uganda (the Recipient) and the Bank, the Bank has agreed to make available to the Recipient an amount in various currencies equivalent to nine million five hundred thousand Special Drawing Rights (SDR 9,500,000), on the terms and conditions set forth in the GEF Trust Fund Grant Agreement, but only on conditions that PSF agrees to undertake such obligations toward the Bank as are set forth in this Agreement; (B) by a subsidiary financing agreement (the GEF Subsidiary Financing Agreement) to be entered into between the Recipient and PSF, a portion of the proceeds of the GEF Trust Fund Grant provided for under the GEF Trust Fund Grant Agreement will be made available to PSF on the terms and conditions set forth in the GEF Subsidiary Financing Agreement; and WHEREAS PSF, in consideration of the Bank