Conformed Copy - C3609 - Higher Education Project - Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3609 MOZ Development Credit Agreement (Higher Education Project) between REPUBLIC OF MOZAMBIQUE and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated March 20, 2002 CREDIT NUMBER 3609 MOZ Page 2 DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated March 20, 2002, between REPUBLIC OF MOZAMBIQUE (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS (A) the Association has received a Letter of Sector Policy from the Borrower dated November 30, 2001, describing the rationale and the objectives of the Higher Education Strategic Plan of the Borrower (hereinafter called the Program), and declaring the Borrower's commitment to the execution of the Program; (B) 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