Conformed Copy - C3203 - Nakivubo Channel Rehabilitation Project - Project Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3203-UG Project Agreement (Nakivubo Channel Rehabilitation Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and KAMPALA CITY COUNCIL Dated June 17, 1999 CREDIT NUMBER 3203 -UG PROJECT AGREEMENT AGREEMENT, dated June 17, 1999, between INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and KAMPALA CITY COUNCIL (KCC). WHEREAS (A) by the Development Credit Agreement of even date herewith between the Republic of Uganda (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to sixteen million five hundred thousand Special Drawing Rights (SDR 16,500,000), on the terms and conditions set forth in the Development Credit Agreement, but only on conditions that KCC agrees to undertake such obligations toward the Association as are set forth in this Agreement; (B) by a subsidiary agreement to be entered into between the Borrower and KCC, the proceeds of the credit provided for under the Development Credit Agreement will be made available to KCC on the terms and conditions set forth in said Subsidiary Agreement; and WHEREAS KCC, in consideration of the Association