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Page 1 CONFORMED COPY CREDIT NUMBER 3217-MAG AGEPMF Project Agreement (Microfinance Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and AGENCE D'EXECUTION DU PROJET MICROFINANCE Dated June 10, 1999 CREDIT NUMBER 3217-MAG AGEPMF PROJECT AGREEMENT AGREEMENT, dated June 10, 1999 between INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and AGENCE D'EXECUTION DU PROJET MICROFINANCE (AGEPMF). WHEREAS (A) by the Development Credit Agreement of even date herewith between REPUBLIC OF MADAGASCAR (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to twelve million one hundred thousand Special Drawing Rights (SDR