Conformed Copy - L4589 - Water Conservation Project - Project Agreement

Page 1 CONFORMED COPY LOAN NUMBER 4589 CHA Project Agreement (Water Conservation Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and BEIJING MUNICIPALITY, HEBEI PROVINCE, LIAONING PROVINCE AND QINGDAO MUNICIPALITY Dated February 9, 2001 LOAN NUMBER 4589 CHA PROJECT AGREEMENT AGREEMENT, dated February 9, 2001, between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank), BEIJING MUNICIPALITY, HEBEI PROVINCE, LIAONING PROVINCE and QINGDAO MUNICIPALITY (the Project Entities). WHEREAS: 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 seventy four million Dollars ($74,000,000), on the terms and conditions set forth in the Loan Agreement, but only on condition that the Project Entities agree to undertake such obligations toward the Bank as are set forth in this Agreement; and WHEREAS the Project Entities, in consideration of the Bank