Conformed Copy - C3716 - Emergency Economic Recovery Credit - Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3716 MAG Development Credit Agreement (Emergency Economic Recovery Credit) between REPUBLIC OF MADAGASCAR and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated November 15, 2002 Page 2 CONFORMED COPY CREDIT NUMBER 3716 MAG DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated November 15, 2002, between REPUBLIC OF MADAGASCAR (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS (A) the Borrower has transmitted to the Association a letter of economic and social recovery policy, dated October 17, 2002, giving details of an emergency recovery program as more fully described in Schedule 2 to this Agreement (hereinafter referred to as the Program), and declaring the Borrower