Conformed Copy - C3766 - Power Development Project - Development Financing Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3766 - NEP GRANT NUMBER H039- NEP Development Financing Agreement (Power Development Project) between KINGDOM OF NEPAL and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated July 9, 2003 Page 2 CREDIT NUMBER 3766 - NEP GRANT NUMBER H039 - NEP DEVELOPMENT FINANCING AGREEMENT AGREEMENT, dated July 9, 2003, between KINGDOM OF NEPAL (the Borrower) and the INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS: (A) the Borrower, having satisfied itself as to the feasibility and priority of the Project described in Schedule 2 to this Agreement, has requested the Association to assist in the financing of the Project; (B) Part C of the Project will be carried out by Nepal Electricity Authority (hereinafter referred to as NEA) with the Borrower