Dahomey - Hinvi Agricultural Development Project - Credit Agreement : Credit 0144 - 2 - Conformed

CONFORMED COPY CREDIT NUMBER 144-2 DA (Amendment) Agreement Amending Development Credit Agreement (Hinvi Agricultural Development Project) BETWEEN REPUBLIC OF DAHOMEY AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED MARCH 22, 1974 CONFORMED COPY CREDIT NUMBER 144-2 DA (Amendment) Agreement Amending Development Credit Agreement (Hinvi Agricultural Development Project) BETWEEN REPUBLIC OF DAHOMEY AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED MARCH 22, 1974 AGREEMENT AMENDING DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated March 22, 1974, between REPUBLIC OF DAHOMEY (hereinafter called the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (hereinafter called the Association). WHEREAS (A) By a development credit agreement (Hinvi Agricultural Development Project) dated March 5, 1969 between the Borrower and the Association (hereinafter called the 1969 Agreement), the Association made a development credit to the Borrower in an amount in various currencies equivalent to four million six hundred thousand dollars ($4,600,000) on the terms and conditions set forth in the 1969 Agreement; (B) By letter agreement dated September 24, 1971 (hereinafter called the 1971 Letter Agreement) the Borrower and the Association agreed to certain amendments to the 1969 Agreement, including, inter alia, the description of the ProJ--ct set forth in Schedule 2 to the 1969 Agreement; (C) Supplemental financing is now necessary to cover the estimated increases in the foreign currency cost of carrying out the Project described in Schedule 2 to the 1969 Agreement as so amended; and (D) The Association has agreed to amend the 1969 Agreement as so amended by adding the equivalent of six hundred thousand dollars ($600,000) to the amount of the said credit, upon the terms and conditions hereinafter set forth; NOW THEREFORE, it is hereby agreed as follows: ARTICLE I Section 1.01. Section 2.01 of the 1969 Agreement is hereby amended to read as follows: "The Association agrees to make available to the Borrower, on the terms and conditions in the Development Credit Agreement set forth or referred to, a development credit in an amount in various currencies equivalent to five million two hundred thousand dollars ($5,200,000)." 4 Section 1.02. The Allocation of the Proceeds of the Credit set forth in Schedule 1 to the 1969 Agreement as amended is further amended to read as follows: Amounts Expressed in Category U.S. Dollar Equivalents I. Construction of Palm Oil Factory and associated installations (initial 20-ton capacity); c.i.f. cost of collection vehicles 4,158,000 II. (a) Development and Maintenance of Oil Palm Plantations; Extension Services therefor 830,000 (b) Other agricultural develop- ment, infrastructure and administration 159,000 Ill. Contingencies 53,000 TOTAL 5,200,000 ARTICLE II Section 2.01. This Agreement shall come into force and effect on the date upon which the Association dispatches to the Borrower notice of its acceptance of: (a) evidence that the execution and delivery of this Agreement on behalf of the Borrower have been duly authorized or ratified by all necessary governmental action; and (b) an opinion or opinions satisfactory to the Association of counsel acceptable to the Association showing that this Agreement has been duly authorized or ratified by, and executed and delivered on behalf of, the Borrower and that the 1969 Agreement as amended by the 1971 Letter Agreement and as further amended by this Agreement constitutes a valid and binding obligation of the Borrower in accordance with its terms as so amended. 5 Section 2.02. If this Agreement shall not have come into force and effect by June 20, 1974, this Agreement and all obligations of the parties hereunder shall terminate, unless the Association, after consideration of the reasons for the delay, establishes a later date for the purposes of this Section. The Association shall promptly notify the Borrower of such date. If this Agreement shall terminate under the provisions of this Section, the 1969 Agreement as amended by the 1971 Letter Agreement shall continue in full force and effect, as if this Agreement had not been executed. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Agreement to be signed in their respective names and delivered in the District of Columbia, United States of America, as of thc day and year first above written. REPUBLIC OF DAHOMEY By /s/ Adjibad6 Tiamiou Authorized Representative INTERNATIONAL DEVELOPMENT ASSOCIATION By /s/ Roger Chaufournier Regional Vice President Western Africa