<СОГЛАШЕНИЕ МЕЖДУ РОССИЙСКОЙ ФЕДЕРАЦИЕЙ И МЕЖДУНАРОДНЫМ БАНКОМ РЕКОНСТРУКЦИИ И РАЗВИТИЯ О ЗАЙМЕ ДЛЯ ФИНАНСИРОВАНИЯ ПИЛОТНОГО ПРОЕКТА СОЦИАЛЬНОГО РЕСТРУКТУРИРОВАНИЯ РАЙОНОВ КРАЙНЕГО СЕВЕРА> (loan number 4611 ru) [англ.](Заключено в г. Норильске 11.07.2001)


Loan Number 4611 RU
LOAN AGREEMENT
(NORTHERN RESTRUCTURING PROJECT) BETWEEN RUSSIAN FEDERATION
AND INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
(Norilsk, 11.VII.2001)
Agreement, dated July 11, 2001, between the Russian Federation (the Borrower) and the International Bank for Reconstruction and Development (the Bank).
Whereas (A) the Bank has received from the Borrower a letter dated April 26, 2001, describing a program of policies and actions designed to support economic restructuring of the Borrower"s Northern territories (the Policy Letter) and declaring the Borrower"s commitment to the execution of the above program;
(B) 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 Bank to assist in the financing of the Project;
whereas the Bank has agreed, on the basis, inter alia, of the foregoing, to extend the Loan to the Borrower upon the terms and conditions set form in this Agreement;
now therefore the parties hereto hereby agree as follows:
Article I
General Conditions; Definitions
Section 1.01. The "General Conditions Applicable to Loan and Guarantee Agreements for Single Currency Loans" of the Bank, dated May 30, 1995 (as amended through October 6, 1999) (the General Conditions) constitute an integral part of this Agreement.
Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions and in the Preamble to this Agreement have the respective meanings therein set forth and the following additional terms have the following meanings:
(a) "Agency Agreement" means the agreement between MOF, MEDT and FER, referred to in Section 3.02 (a) of this Agreement, as the same may be amended from time to time, and such term includes all schedules and agreements supplemental to the Agency Agreement;
(b) "Beneficiaries" means any residents of the Participating Localities eligible according to the criteria referred to in the Government Decree on the Migration Assistance Program to be adopted in accordance with Section 6.01 (c) of this Agreement, and their households, who shall have elected to participate in the Migration Assistance Program under Part A of the Project, and for whose benefit any amounts shall be payable under Migration Assistance Allowances granted in accordance with the terms and conditions of such program;
(c) "Certificate" means the certificate referred to in paragraph 2 (a) of the Annex to Schedule 5 to this Agreement;
(d) "Environmental Management Plan" means the plan setting forth the actions required to mitigate the adverse environmental impacts resulting from the implementation of the Project, as referred to in paragraph 6 of Schedule 5 to this Agreement;
(e) "Federal Treasury" means the Borrower"s integrated system of the Federal Treasury, or any successor or successors thereto;
(f) "FER" means the Non-Commercial Foundation for Enterprise Restructuring and Financial Institutions Development, a legal entity organized and established pursuant to the Borrower"s law "On Non-Commercial Organizations", dated January 12, 1996, and operating on the basis of its Charter dated July 5, 1996, as amended on June 2, 1997, registered with the Ministry of Justice on June 27, 1997, or any successor or successors thereto;
(g) "Implementation Agreements" means the agreements to be entered into between MOF, MEDT, and FER on one side and each respective Participating Locality and respective Regional Project Participant on the other side, pursuant to Section 6.01 (a) of this Agreement, as the same agreements may be amended from time to time, and such term includes all schedules and agreements supplemental to the Implementation Agreements; "Implementation Agreement" means each and any such agreement;
(h) "IMWG" means the Inter-Ministerial Working Group of the Borrower, established by the Government of the Borrower pursuant to Protocol No. вг-п2-19пр dated December 4, 1998, and referred to in paragraph 3 of Schedule 5 to this Agreement;
(i) "Instructions to the Participating Localities" means the guidelines and procedures for the implementation of the Project approved by the IMWG, defining the responsibilities of the Participating Localities and LPIUs under the Project, as the same may be amended from time to time;
(j) "Local Restructuring Plan" means, for each Participating Locality, a list of restructuring measures designed to enable the Participating Locality to realize the economic benefits of the Project, and the timetable for their implementation, which shall have been adopted by the Participating Locality, and which are referred to in paragraph 7 of Schedule 5 to this Agreement;
(k) "LPIU" means the Local Project Implementation Unit established in each Participating Locality;
(l) "MEDT" means the Borrower"s Ministry of Economic Development and Trade, or any successor or successors thereto;
(m) "Migration Assistance Allowance" means an allowance granted to a Beneficiary in accordance with the eligibility criteria, rules and procedures which shall have been established pursuant to the Government Decree on the Migration Assistance Program to be adopted in accordance with Section 6.01 (c) of this Agreement;
(n) "Migration Assistance Program" means the program to be established by the Borrower pursuant to the Government Decree on the Migration Assistance Program to be adopted in accordance with Section 6.01 (c) of this Agreement, for the purpose of providing Migration Assistance Allowances under Part A of Schedule 2 to this Agreement;
(o) "MOF" means the Borrower"s Ministry of Finance, or any successor or successors thereto;
(p) "Operational Manual" means the manual approved by IMWG containing the guidelines and procedures for the implementation of the Project, as referred to in paragraph 2 of Schedule 5 to this Agreement, as the same may be amended from time to time;
(q) "Participating Locality" means any of the following: the City of Norilsk, the City of Vorkuta and the Susuman District of Magadan Oblast; and "Participating Localities" means, collectively, the City of Norilsk, the City of Vorkuta and the Susuman District of Magadan Oblast;
(r) "Project Management Report" means each report referred to and prepared in accordance with Section 4.03 of this Agreement;
(s) "Regional Project Participant" means any of the following: Komi Republic, Magadan Oblast, and other Regional Project Participants which may be agreed upon between the Borrower and the Bank; and "Regional Project Participants" mean, collectively, Komi Republic and Magadan Oblast;
(t) "Ruble" means the currency of the Borrower;
(u) "Special Account" means the account referred to in Section 2.02 (b) of this Agreement;
(v) "Sberbank" means the Savings Bank of the Russian Federation, a commercial bank organized and operating under the laws of the Borrower on banks and banking activity, and acting on the basis of its charter registered in the Central Bank of the Russian Federation on June 20, 1991, Registration # 1481; and
(w) "Value Date" means the date when the Certificate submitted by a Beneficiary is assigned a Ruble value by Sberbank in accordance with the terms and conditions of the Migration Assistance Program;
Section 1.03. Each reference in the General Conditions to the "Project implementation entity" shall be deemed as a reference to FER.
Article II
The Loan
Section 2.01. The Bank agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Loan Agreement, an amount equal to eighty million Dollars (80,000,000 USD).
Section 2.02. (a) The amount of the Loan may be withdrawn from the Loan Account in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Bank shall so agree, to be made) in respect of the reasonable cost of goods, services and Migration Assistance Allowances required for the Project and to be financed out of the proceeds of the Loan and in respect of the fee referred to in Section 2.04 of this Agreement.
(b) The Borrower may, for the purposes of the Project, open and maintain in Dollars a special deposit account in a bank, acceptable to the Bank, on terms and conditions satisfactory to the Bank, including appropriate protection against set-off, seizure and attachment. Deposits into, and payments out of, the Special Account shall be made in accordance with the provisions of Schedule 6 to this Agreement.
Section 2.03. The Closing Date shall be September 30, 2005, or such later date as the Bank shall establish. The Bank shall promptly notify the Borrower of such later date.
Section 2.04. The Borrower shall pay to the Bank a fee in an amount equal to one percent (1%) of the amount of the Loan. On or promptly after the Effective Date, the Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to itself the amount of said fee.
Section 2.05. The Borrower shall pay to the Bank a commitment charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Loan not withdrawn from time to time.
Section 2.06. (a) The Borrower shall pay interest on the principal amount of the Loan withdrawn and outstanding from time to time, at a rate for each Interest Period equal to LIBOR Base Rate plus LIBOR Total Spread.
(b) For the purposes of this Section:
(i) "Interest Period" means the initial period from and including the date of this Agreement to, but excluding, the first Interest Payment Date occurring thereafter, and after the initial period, each period from and including an Interest Payment Date to, but excluding the next following Interest Payment Date.
(ii) "Interest Payment Date" means any date specified in Section 2.07 of this Agreement.
(iii) "LIBOR Base Rate" means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.
(iv) "LIBOR Total Spread" means, for each Interest Period: (A) three-fourths of one percent (3/4 of 1%); (B) minus (or plus) the weighted average margin, for such Interest Period, below (or above) the London interbank offered rates, or other reference rates, for six-month deposits, in respect of the Bank"s outstanding borrowings or portions thereof allocated by the Bank to fund single currency loans or portions thereof made by it that include the Loan; as reasonably determined by the Bank and expressed as a percentage per annum.
(c) The Bank shall notify the Borrower of LIBOR Base Rate and LIBOR Total Spread for each Interest Period, promptly upon the determination thereof.
(d) Whenever, in light of changes in market practice affecting the determination of the interest rates referred to in this Section 2.06, the Bank determines that it is in the interest of its borrowers as a whole and of the Bank to apply a basis for determining the interest rates applicable to the Loan other than as provided in said Section, the Bank may modify the basis for determining the interest rates applicable to the Loan upon not less than six (6) months" notice to the Borrower of the new basis. The new basis shall become effective on the expiry of the notice period unless the Borrower or the Guarantor notifies the Bank during said period of its objection thereto, in which case said modification shall not apply to the Loan.
Section 2.07. Interest and other charges shall be payable semiannually in arrears on January 15 and July 15 in each year.
Section 2.08. The Borrower shall repay the principal amount of the Loan in accordance with the amortization schedule set forth in Schedule 3 to this Agreement.
Section 2.09. (a) Without limitation upon the provisions of Section 4.01 of the General Conditions, and except as the Borrower and the Bank shall otherwise agree, the Bank may, upon the Borrower"s request, reimburse the Borrower from the Loan Account in Dollars, in respect of the expenditures incurred by the Borrower in Rubles for financing the Migration Assistance Allowances.
(b) For the purposes of paragraph (a) of this Section, the exchange rate to be used shall be:
(i) in the case of withdrawal applications received by the Bank within 120 days of the Value Date, the exchange rate in effect on the Value Date in accordance with the terms and conditions of the Migration Assistance Program;
(ii) in the case of withdrawal applications received by the Bank outside the 120 day period, the exchange rate, as determined by the Bank in its common data store, as at the date when the withdrawal from the Loan Account is made.
Article III
Execution of the Project
Section 3.01. (a) The Borrower declares its commitment to the objectives of the Project, and, to this end, shall carry out the Project, with the assistance of FER, with due diligence and efficiency and in conformity with appropriate administrative, financial, and environmental practices and with the undertakings set forth in the Policy Letter, and shall provide, or cause to be provided, promptly as needed, the funds, facilities, services and other resources required for the Project.
(b) The Borrower shall cause the Participating Localities and the Regional Project Participants to carry out their respective obligations in respect of the implementation of the Project, in accordance with the provisions of their respective Implementation Agreements, with due diligence and efficiency and in conformity with appropriate administrative, financial and environmental practices, and shall cause the Participating Localities and Regional Project Participants to provide, promptly as needed, the funds, facilities, services and other resources required for the Project.
(c) Without limitation upon the provisions of paragraph (a) of this Section and except as the Borrower and the Bank shall otherwise agree, the Borrower shall carry out the Project, and shall cause the Participating Localities and Regional Project Participants to carry out their respective obligations in respect of the implementation of the Project, in accordance with the Implementation Program set forth in Schedule 5 to this Agreement.
Section 3.02. Without limitation upon the provisions of Section 3.01 of this Agreement, the Borrower shall:
(a) enter into the Agency Agreement

"СОГЛАШЕНИЕ МЕЖДУ ПРАВИТЕЛЬСТВОМ РОССИЙСКОЙ ФЕДЕРАЦИИ И ПРАВИТЕЛЬСТВОМ РЕСПУБЛИКИ ТАДЖИКИСТАН О СТАТУСЕ КОРРЕСПОНДЕНТОВ СРЕДСТВ МАССОВОЙ ИНФОРМАЦИИ РОССИЙСКОЙ ФЕДЕРАЦИИ В РЕСПУБЛИКЕ ТАДЖИКИСТАН И КОРРЕСПОНДЕНТОВ СРЕДСТВ МАССОВОЙ ИНФОРМАЦИИ РЕСПУБЛИКИ ТАДЖИКИСТАН В РОССИЙСКОЙ ФЕДЕРАЦИИ"(Заключено в г. Душанбе 11.07.2001)  »
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