Conformed Copy - C1844 - Economic Recovery Program - Facility Credit Agreement

Page 1 CONFORMED COPY AFRICAN FACILITY CREDIT NUMBER A-34 UG (Economic Recovery Program) between THE REPUBLIC OF UGANDA and INTERNATIONAL DEVELOPMENT ASSOCIATION as ADMINISTRATOR of the SPECIAL FACILITY FOR SUB-SAHARAN AFRICA Dated September 30, 1987 AFRICAN FACILITY CREDIT AGREEMENT AGREEMENT, dated September 30, 1987, between THE REPUBLIC OF UGANDA (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION as ADMINISTRATOR of the SPECIAL FACILITY FOR SUB-SAHARAN AFRICA (the Administrator). WHEREAS (A) the Executive Directors of the International Development Association (IDA) have established, by their Resolution No. IDA 85-1 of May 21, 1985 (the Resolution), a Special Facility for Sub-Saharan Africa (the African Facility) constituted by the funds which shall be contributed by the International Bank for Reconstruction and Development (the Bank) and other donors and administered by IDA, acting as Administrator of the African Facility, for the purpose of, and in accordance with, the provisions of the Resolution; (B) the Administrator has received a letter, dated July 1, 1987, from the Borrower describing a program of actions, objectives and policies designed to achieve overall recovery of the Borrower's economy (hereinafter called the Program), declaring the Borrower's commitment to the execution of the Program and requesting assistance from the Administrator in the financing of Page 2 urgently needed imports required during such execution, and the Administrator has determined that such assistance would be in accordance with the provisions of the Resolution; (C) the Borrower has also requested IDA to provide additional assistance towards the financing of the Program, and by an agreement of even date herewith between the Borrower and IDA (the Development Credit Agreement), IDA is agreeing to provide such assistance in an aggregate principal amount equivalent to fifty million nine hundred thousand Special Drawing Rights (SDR 50,900,000) (the IDA Credit); (D) the Borrower and the Overseas Development Administration (hereinafter called ODA) intend to enter into an agreement (the ODA Agreement) pursuant to which a financial contribution in an amount of ten million pounds sterling (