Conformed Copy - C2950 - Andhra Pradesh Hazard Mitigation and Emergency Cyclone Recovery Project - Project Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 2950 -IN LOAN NUMBER 4156 -IN Project Agreement (Andhra Pradesh Hazard Mitigation and Emergency Cyclone Recovery Project) among INTERNATIONAL DEVELOPMENT ASSOCIATION and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and STATE OF ANDHRA PRADESH Dated June 3, 1997 CREDIT NUMBER 2950 -IN LOAN NUMBER 4156 -IN PROJECT AGREEMENT AGREEMENT, dated June 3, 1997, among the INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and State of Andhra Pradesh (Andhra Pradesh). WHEREAS (A) by the Development Credit Agreement of even date herewith between India (the Borrower) and the Association, the Association has agreed to lend to the Borrower an amount in various currencies equivalent to seventy-two million one hundred thousand Special Drawing Rights (SDR72,100,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition that Andhra Pradesh agree to undertake such obligations toward the Association as are set forth in this Agreement; and (B) by the Loan Agreement of even date herewith between the Borrower and the Bank, the Bank has agreed to make available to the Borrower an amount equal to fifty million dollars ($50,000,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that Andhra Pradesh agree to undertake such obligations toward the Bank as are set forth in this Agreement; and (C) Parts A.1, B and C of the Project will be carried out by Andhra Pradesh with the Borrower