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Page 1 CONFORMED COPY CREDIT NUMBER 2968-MAG Development Credit Agreement (Urban Infrastructure Project) between REPUBLIC OF MADAGASCAR and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated July 14, 1997 CREDIT NUMBER 2968-MAG DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated July 14, 1997, between REPUBLIC OF MADAGASCAR (the Borrower) and the 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 Project will be carried out by Agence d'Ex