Conformed Copy - C3819 - Energy Reform and Access Project - Project Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 3819 MOZ Project Agreement (Energy Reform and Access Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and ELECTRICIDADE DE MOZAMBIQUE Dated October 7, 2003 Page 2 CREDIT NUMBER 3819 MOZ PROJECT AGREEMENT AGREEMENT, dated October 7, 2003 between INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association) and ELECTRICIDADE DE MOZAMBIQUE (EdM). WHEREAS (A) by the Development Credit Agreement of even date herewith between Republic of Mozambique (the Borrower) and the Association, the Association has agreed to make available to the Borrower an amount in various currencies equivalent to twenty-nine million seven hundred thousand Special Drawing Rights (SDR 29,700,000), on the terms and conditions set forth in the Development Credit Agreement, but only on condition that EdM agrees to undertake such obligations toward the Association as are set forth in this Agreement; (B) by a Subsidiary Loan Agreement to be entered into between the Borrower and EdM, part of the proceeds of the credit provided for under the Development Credit Agreement will be made available to EdM on the terms and conditions set forth in said Subsidiary Loan Agreement; and WHE REAS EdM, in consideration of the Association