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Page 1 CONFORMED COPY LOAN NUMBER 4328 CHA Project Agreement (Second Inland Waterways Project) among INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and GUANGDONG PROVINCE and JIANGSU PROVINCE Dated December 18, 1998 LOAN NUMBER 4328 CHA PROJECT AGREEMENT AGREEMENT, dated December 18, 1998, among INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and GUANGDONG PROVINCE (Guangdong) and JIANGSU PROVINCE (Jiangsu) (Guangdong and Jiangsu hereinafter collectively referred to as the Project Provinces, and individually as a Project Province). WHEREAS (A) by the Loan Agreement of even date herewith between People