Conformed Copy - L4402 - Fes Rehabilitation Project - Loan Agreement 2

Page 1 CONFORMED COPY LOAN NUMBER 4403-MOR Loan Agreement (Fes Rehabilitation Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and COMMUNE URBAINE OF FES-MEDINA Dated December 10, 1998 LOAN NUMBER 4403-MOR LOAN AGREEMENT AGREEMENT, dated December 10, 1998 between the INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and the COMMUNE URBAINE OF FES-MEDINA (the Borrower). WHEREAS (A) Kingdom of Morocco (the Guarantor) and the Borrower, having been satisfied as to the feasibility and priority of the Project described in Schedule 2 to this Agreement, have requested the Bank to assist in the financing of the Project; (B) by an agreement (the Guarantee Agreement) of even date herewith between the Guarantor and the Bank, the Guarantor has agreed to guarantee the obligations of the Borrower in respect of the Loan and to undertake such other obligations as set forth in the Guarantee Agreement; (C) Parts A; B.1(a) and (b); C.2; E.1; E.3 and E.4 of the Project will be carried out by ADER-Fes, with the Guarantor and the Bank