Conformed Copy - L3815 - Structural Adjustment Loan - Dutch Grant Agreement

Page 1 TF020348 DUTCH GRANT RELATED TO LOAN NUMBER 3815 MD Dutch Grant Agreement (Structural Adjustment Loan) between REPUBLIC OF MOLDOVA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT as Administrator of Dutch Funds provided by the MINISTER FOR DEVELOPMENT COOPERATION OF THE NETHERLANDS Dated September 13, 1995 TF 020348 DUTCH GRANT RELATED TO LOAN NUMBER 3815 MD DUTCH GRANT AGREEMENT AGREEMENT, dated September 13, 1995 between REPUBLIC OF MOLDOVA (the Recipient) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT acting as Administrator (the Administrator) of the Dutch Grant (as hereinafter defined) provided by the Minister for Development Cooperation of the Netherlands (the Minister). WHEREAS the Recipient has requested the assistance of the International Bank for Reconstruction and Development (the Bank) and the Minister in the financing of urgently needed imports required during the execution of its program of actions, objectives and policies designed to achieve economic stabilization and economic reforms in the Recipient's economy described in a letter from the Recipient to the Bank, dated November 11, 1994; WHEREAS the Bank has made a loan for this purpose on the terms and conditions set forth in a Loan Agreement (Loan No. 3815 MD) dated December 9, 1994 between the Recipient and the Bank (the Loan Agreement); WHEREAS the Minister wishes to make available to the Recipient a grant in the amount of five million Dutch guilders (Dfls 5,000,000) (the Dutch Grant) to assist the Recipient in the financing of urgently needed imports and on the terms and conditions hereinafter set forth; WHEREAS pursuant to the General Arrangement for Administration, entered into between the Minister, the Bank and the International Development Association, dated May 24, 1995, and the Arrangement between the Minister and the Bank, dated August 17, 1995 (the Arrangements), the Minister has appointed the Bank, and the Bank has agreed, Page 2 to administer grant funds to be made available by the Minister for the financing of imports eligible for financing under Loan No. 3815 MD in accordance with the provisions of the Arrangements and has authorized the Bank to do all such acts and things as may be necessary or appropriate to carry out such administration, including entering into this Grant Agreement on behalf of the Minister; and WHEREAS the Recipient acknowledges that the financial assistance extended to the Recipient under this agreement (the Dutch Grant Agreement) shall be considered part of the bilateral development aid extended by the Government of the Netherlands to the Recipient; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section 1.01. (a) The following provisions of the General Conditions Applicable to Loan and Guarantee Agreements of the Bank, dated January 1, 1985, with the modifications set forth in paragraph (b) of this Section (the General Conditions) constitute an integral part of this Agreement: (i) Article I; (ii) Sections 2.01 (1), (2), (3), (4), (6), (8), (9), (10), (11), (18) and (20), 2.02 and 2.03; (iii) Section 3.01; (iv) Section 4.01 and the first sentence of Section 4.09; (v) Article V; (vi) Sections 6.01, 6.02 (a), (c), (d), (e), (f), (i) and (k), 6.03, 6.04 and 6.06; (vii) Section 8.01 (b); (viii) Sections 9.01 (a) and (c), 9.04, 9.05, 9.06, 9.07, 9.08 and 9.09; (ix) Sections 10.01, 10.03 and 10.04; and (x) Article XI. (b) The General Conditions shall be modified as follows: (i) the term "Bank", wherever used in the General Conditions, other than in Sections 2.01 (8) and 6.02 (f) thereof and the last use of such term in Section 5.01 thereof, means the International Bank for Reconstruction and Development acting as Administrator of the Dutch Grant pursuant to the Arrangements, except that in Section 6.02, the term