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Page 1 CONFORMED COPY CREDIT NUMBER 3498 MAG Development Credit Agreement (Community Development Project) between REPUBLIC OF MADAGASCAR and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated May 22, 2001 CREDIT NUMBER 3498 MAG DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated May 22, 2001, between REPUBLIC OF MADAGASCAR (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 (the Project), has requested the Association to assist in the financing of the Project; (B) the Project will be carried out by Fonds d