Conformed Copy - C1844 - Economic Recovery Program - Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 1844 UG (Economic Recovery Program) between THE REPUBLIC OF UGANDA and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated September 30, 1987 CREDIT NUMBER 1844 UG DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated September 30, 1987, between THE REPUBLIC OF UGANDA (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS (A) the Association has received a letter, dated July 1, 1987, from the Borrower describing a program of actions, objectives and policies designed to achieve overall recovery of the Borrower's economy (hereinafter called the Program), declaring the Borrower's commitment to the execution of the Program and requesting assistance from the Association in the financing of urgently needed imports required during such execution; (B) the Borrower has also requested the Association, acting as Administrator of a Special Facility for Sub-Saharan Africa (the African Facility), established by its Executive Directors by Resolution No. IDA 85-1 of May 21, 1985, to provide additional assistance in support of the Program and, by an agreement of even date herewith, between the Borrower and the Association as Admini- strator of the African Facility (the African Facility Credit Agreement), the Association is agreeing to provide such assistance in an aggregate principal amount equivalent to eighteen million Page 2 eight hundred thousand Special Drawing Rights (SDR 18,800,000); (C) the Borrower and the Overseas Development Administration (hereinafter called ODA) intend to enter into an agreement (the ODA Agreement) pursuant to which a financial contribution in an amount of ten million pounds sterling (