Conformed Copy - L7058 - Metro Manila Urban Transport Integration Project - Loan Agreement

Page 1 CONFORMED COPY LOAN NUMBER 7058 PH Loan Agreement (Metro Manila Urban Transport Integration Project) between REPUBLIC OF THE PHILIPPINES and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated August 8, 2001 LOAN NUMBER 7058-PH LOAN AGREEMENT AGREEMENT, dated August 8, 2001, between REPUBLIC OF THE PHILIPPINES (the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank). WHEREAS the Borrower, having satisfied itself as to the feasibility and priority of the project described in Schedule 2 to this Agreement (the "Project"), has requested the Bank to assist in the financing of the Project; WHEREAS Parts A.1, C.1 (a) and E of the Project will be carried out by Metropolitan Manila Development Authority ("MMDA") with the Borrower and the City of Marikina (the Recipient) assistance and, as part of such assistance, the Borrower will make available to MMDA a portion of the proceeds of the Loan as provided in this Agreement; and WHEREAS the Borrower and the City of Marikina (the Recipient) have requested assistance from the resources of the Global Environment Facility Trust Fund in the financing of Part D of the Project, and said request having been approved in accordance with the provisions of the Instrument for the Establishment of the Restructured Global Environment Facility approved under Resolution No. 94-2, and to be funded from contributions to the GEF Trust Fund under Resolution No. 98-2, which may include funds carried over from the first replenishment of the GEF Trust Fund under Resolution No. 94-2, and the Bank has determined that such assistance would be in accordance with the provisions of Resolution No. 94-2 and Resolution No. 98-2 referred to above; 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 and in the agreement of even date herewith between the Bank and MMDA (the Project Agreement). NOW THEREFORE the parties hereto hereby agree as follows: Page 2 ARTICLE I General Conditions; Definitions Section 1.01. The "General Conditions Applicable to Loan and Guarantee Agreements for Fixed Spread Loans" of the Bank dated September 1, 1999 (the General Conditions) constitute an integral part of this Agreement. Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions and in the Preamble to this Agreement have the respective meanings therein set forth and the following additional terms wherever used in this Agreement have the following meanings: (a) "Project Affected Person" means a person who on account of the Project would have his or her: (i) standard of living adversely affected; or (ii) right, title or interest in any house, or interest in or right to use any land (including premises, agricultural and grazing land) or right in annual or perennial crops and trees or any other fixed or movable asset, acquired or possessed, temporarily or permanently; or (iii) business, occupation, work or place of residence or habitat adversely affected, temporarily or permanently, and "Project Affected Persons" means, collectively, all persons who qualify as a Project Affected Person. (b) "DBM" means the Borrower