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Page 1 CONFORMED COPY LOAN NUMBER 4770-CHA Project Agreement (Ningbo Water and Environment Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and NINGBO MUNICIPALITY Dated June 6, 2005 Page 2 LOAN NUMBER 4770-CHA PROJECT AGREEMENT AGREEMENT, dated June 6, 2005, between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and NINGBO MUNCIPALITY (Ningbo). WHEREAS by the Loan Agreement of even date herewith between People