Conformed Copy - C3008 - Multimodal Transit and Trade Facilitation Project - Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3008 NEP Development Credit Agreement (Multimodal Transit and Trade Facilitation Project) between KINGDOM OF NEPAL and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated December 18, 1997 CREDIT NUMBER 3008 NEP DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated December 18, 1997, between KINGDOM OF NEPAL (the Borrower) and 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) the construction of a rail spur from Raxaul, India, to Sirsiya (Birgunj), Nepal, will be financed and carried out by the Government of India as indicated in the Joint Statements; and (C) 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 Page 2 Section 1.01. The