Credit Agreement C4101-MG Conformed

Page 1 CONFORMED COPY CREDIT NUMBER 4101-MAG Development Credit Agreement (Integrated Growth Poles Project) between REPUBLIC OF MADAGASCAR and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated July 13, 2005 Page 2 CREDIT NUMBER 4101-MAG DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated July 13, 2005, between REPUBLIC OF MADAGASCAR (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS 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; WHEREAS the Association has agreed, on the basis, inter alia , of the foregoing, to extend the Credit to the Borrower upon the terms and conditions set forth in this Agreement; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section 1.01. The