<СОГЛАШЕНИЕ МЕЖДУ РОССИЙСКОЙ ФЕДЕРАЦИЕЙ И МЕЖДУНАРОДНЫМ БАНКОМ РЕКОНСТРУКЦИИ И РАЗВИТИЯ О ЗАЙМЕ ДЛЯ ФИНАНСИРОВАНИЯ ПРОЕКТА "МЕДИЦИНСКОЕ ОБОРУДОВАНИЕ"> (loan number 4033 ru) [англ.](Заключено в г. Вашингтоне 27.08.1996)
Loan Number 4033 RU
LOAN AGREEMENT
(MEDICAL EQUIPMENT
PROJECT)
BETWEEN RUSSIAN FEDERATION AND INTERNATIONAL BANK
FOR
RECONSTRUCTION AND DEVELOPMENT
(Washington, 27.VIII.1996)
Agreement,
dated August 27, 1996, between Russian Federation (the Borrower) and
International Bank for Reconstruction and Development (the Bank).
Whereas
the Borrower, having satisfied itself as to the feasibility and priority of the
Project described in Schedule 2 to this Agreement, has requested the Bank to
assist in the financing of the Project; and
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 forth 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, (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 have the respective meanings
therein set forth and the following additional terms have the following
meanings:
(a) "Special Account" means the account referred to in Section
2.02 (b) of this Agreement; and
(b) "Project Preparation Advance" means
the project preparation advance granted by the Bank to the Borrower pursuant to
two exchanges of letters dated August 2, 1995 and September 6, 1995 and dated
March 4, 1996 and April 2, 1996 between the Borrower and the Bank;
(c)
"MOHMI" means the Borrower"s Ministry of Health and Medical Industry;
(d)
"PPIU" means the Project Preparation and Implementation Unit, established and
operating within the Borrower"s Ministry of Finance pursuant to a Regulation
signed by the Deputy Minister of Finance, the Deputy Minister of Economy and the
Deputy Minister of Health and Medical Industry, dated March 15, 1996;
(e)
"Working Group" means the Interministerial Working Group for the Establishment
of the National Health Accounts System, established pursuant to the Order signed
by the First Deputy Prime Minister, dated March 23, 1996 and headed by
MOHMI;
(f) "Participating Oblast" means any oblast of the Borrower in
whose territory health facilities are located which are included, under Part A
of the Project; and
(g) "Participating Oblast Commitment" means the
letter of commitment received by the Borrower, from each Participating Oblast
according to the provisions of paragraph 2 of Schedule 5 to this
Agreement.
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 two hundred seventy million dollars
(270,000,000 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 and services required for the
Project described in Schedule 2 to this Agreement and to be financed out of the
proceeds of the Loan.
(b) The Borrower may, for the purposes of the
Project, open and maintain in Dollars a special deposit account in a commercial
bank on terms and conditions satisfactory to the Bank, including appropriate
protection against set-off, seizure or attachment. Deposits into, and payments
out of, the Special Account shall be made in accordance with the provisions of
Schedule 5 to this Agreement.
(c) Promptly after the Effective Date, the
Bank shall, on behalf of the Borrower, withdraw from the Loan Account and pay to
itself the amount required to repay the principal amount of the Project
Preparation Advance withdrawn and outstanding as of such date and to pay all
unpaid charges thereon. The unwithdrawn balance of the authorized amount of the
Project Preparation Advance shall thereupon be canceled.
Section 2.03.
The Closing Date shall be June 30, 1999 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 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 2.05. (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 2.06 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) one half
of one percent (1/2 of 1%);
(B) minus (or plus) the weighted average
margin, for such Interest Period, below (or above) the London inter- bank
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 2.05, 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, 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 basis shall become effective on the expiry of the notice
period unless the Borrower notifies the Bank during said period of its objection
thereto, in which case said modification shall not apply to the Loan.
Section 2.06. Interest and other charges shall be payable April 15 and October
15 in each year.
Section 2.07. The Borrower shall repay the principal
amount of the Loan in accordance with the amortization schedule set forth in
Schedule 3 to this Agreement.
Article III
Execution of the
Project
Section 3.01. (a) The Borrower declares its commitment to the
objectives of the Project as set forth in Schedule 2 to this Agreement, and, to
this end, shall carry out Part A of the Project through the PPIU and Part B,
under the overall coordination of the PPIU, through the Working Group with due
diligence and efficiency and in conformity with appropriate administrative,
financial and public health practices, and shall provide, promptly as needed,
the funds, facilities, services and other resources required for the
Project.
(b) 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 cause the PPIU to carry out Part A of the Project in accordance
with the Implementation Program set forth in Schedule 5 to this Agreement.
Section 3.02. Except as the Bank shall otherwise agree, procurement of the
goods and consultants" services required for the Project and to be financed out
of the proceeds of the Loan shall be governed by the provisions of Schedule 4 to
this Agreement.
Section 3.03. For the purposes of Section 9.08 of the
General Conditions and without limitation thereto, the Borrower shall:
(a) prepare, on the basis of guidelines acceptable to the Bank, and furnish to
the Bank not later than six (6) months after the Closing Date or such later date
as may be agreed for this purpose between the Borrower and the Bank, a plan for
the future operation of the Project; and
(b) afford the Bank a reasonable
opportunity to exchange views with the Borrower on said plan.
Article
IV
Financial Covenants
Section 4.01. (a) The Borrower shall maintain or
cause to be maintained records and accounts adequate to reflect in accordance
with sound accounting practices the operations, resources and expenditures in
respect of the Project of the departments or agencies of the Borrower
responsible for carrying out the Project or any part thereof.
(b) The
Borrower shall:
(i) have the records and accounts referred to in
paragraph (a) of this Section, including those for the Special Accounts for each
fiscal year audited, in accordance with appropriate auditing principles
consistently applied, by independent auditors acceptable to the Bank;
(ii) furnish to the Bank as soon as available, but in any case not later than
six (6) months after the end of each such year, the report of such audit by said
auditors, of such scope and in such detail as the Bank shall have reasonably
requested; and
(iii) furnish to the Bank such other information
concerning said records and accounts and the audit thereof as the Bank shall
from time to time reasonably request.
(c) For all expenditures with
respect to which withdrawals from the Loan Account were made on the basis of
statements of expenditure, the Borrower shall:
(i) maintain or cause to
be maintained, in accordance with paragraph (a) of this Section, records and
accounts reflecting such expenditures;
(ii) retain, until at least one
year after the Bank has received the audit report for the fiscal year in which
the last withdrawal from the Loan Account was made. all records (contracts,
orders, invoices, bills, receipts and other documents) evidencing such
expenditures;
(iii) enable the Bank"s representatives to examine such
records; and
(iv) ensure that such records and accounts are included in
the annual audit referred to in paragraph (b) of this Section and that the
report of such audit contains a separate opinion by said auditors as to whether
the statements of expenditure submitted during such fiscal year, together with
the procedures and internal controls involved in their preparation, can be
relied upon to support the related withdrawals.
Article V
Remedies of
the Bank
Section 5.01. Pursuant to Section 6.02 (1) of the General
Conditions, the following additional event is specified, namely, that a
Participating Oblast has failed to comply with the provisions of the respective
Participating Oblast Commitment.
Section 5.02. Pursuant to Section 7.01
(h) of the General Conditions, the following additional event is specified,
namely that the event specified in Section 5.01 of this Agreement shall occur
and shall continue for a period of 30 days after notice thereof shall have been
given by the Bank to the Borrower.
Article VI
Termination
Section
6.01. The date ninety (90) days after the date of this Agreement is hereby
specified for the purposes of Section 12.04 of the General
Conditions.
Article VII
Representative of the Borrower;
Addresses
Section 7.01. The Minister of Finance or the Deputy Minister of
Finance of the Borrower is designated as representative of the Borrower for the
purposes of Section 11.03 of the General Conditions.
Section 7.02. The
following addresses are specified for the purposes of Section 11.01 of the
General Conditions:
For the Borrower:
Ministry of
Finance
Ilyinka Street 9
103097 Moscow
Russian
Federation
Telex:
112008
For the Bank:
International Bank for
Reconstruction and
Development
1818H Street, N.W.
Washington, D.C. 20433
United States of America
Cable address:
Telex:
INTBAFRAD
197688 (TRT),
Washington, D.C. 248423
(RCA),
64145 (WUI)
or
82987
(FTCC)
In witness whereof, the parties hereto, acting through their duly
authorized representatives, have caused this Agreement to be signed in their
respective names in the District of Columbia, United States of America, as of
the day and year first above written.
SCHEDULE 1
WITHDRAWAL OF
THE PROCEEDS OF THE LOAN
1. The table below sets forth the Categories of
items to be financed out of the proceeds of the Loan, the allocation of the
amounts of the Loan to each Category and the percentage of expenditures for
items so to be financed in each
Category:
--------------------------T------------------T-------------------¬
¦ Category ¦ Amount of the ¦ % of ¦
¦ ¦ Loan Allocated ¦ Expenditures ¦
¦
¦ (Expressed in ¦ to be Financed ¦
¦
¦Dollar Equivalent)¦ ¦
+-------------------------+------------------+-------------------+
¦(1)
Medical ¦ 254,000,000 ¦100% of foreign ¦
¦
equipment under ¦ ¦expenditures, ¦
¦
Part A of the ¦ ¦100% of local ¦
¦
Project and ¦ ¦expenditures ¦
¦
computer equipment ¦ ¦(ex-factory ¦
¦
under Part B ¦ ¦cost) and 70% ¦
¦ of
the Project ¦ ¦local expenditures ¦
¦
¦ ¦for other items ¦
¦
¦ ¦procured locally ¦
¦
¦
