<СОГЛАШЕНИЕ МЕЖДУ РОССИЙСКОЙ ФЕДЕРАЦИЕЙ И МЕЖДУНАРОДНЫМ БАНКОМ РЕКОНСТРУКЦИИ И РАЗВИТИЯ О ЗАЙМЕ ДЛЯ ФИНАНСИРОВАНИЯ ПРОЕКТА ПО ПОДДЕРЖКЕ ОСУЩЕСТВЛЕНИЯ ЗЕМЕЛЬНОЙ РЕФОРМЫ> (loan number 3756 ru) [англ.](Заключено в г. Вашингтоне 22.06.1994)
Loan Number 3756 RU
LOAN AGREEMENT
(LAND REFORM IMPLEMENTATION
SUPPORT PROJECT)
BETWEEN RUSSIAN FEDERATION AND INTERNATIONAL BANK
FOR RECONSTRUCTION AND DEVELOPMENT
(Washington, 22.VI.1994)
Agreement,
dated June 22, 1994, between the 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;
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" of the Bank, dated January 1, 1985, with the modifications
set forth below (the General Conditions) constitute an integral part of this
Agreement:
(a) The last sentence of Section 3.02 is deleted.
(b)
In Section 6.02, sub-paragraph (k) is re-lettered as sub-paragraph (1) and a new
sub-paragraph (k) is added to read:
"(k) An extraordinary situation shall
have arisen under which any further withdrawals under the Loan would be
inconsistent with the provisions of Article III, Section 3 of the Bank"s
Articles of 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)
"Registration Procedures" means the regulations and procedures specified in
Schedule 5, Part VI to this Agreement;
(b) "Project Account" means the
account referred to in Section 3.03 of this Agreement;
(c) "PDU" means
the project development unit referred to in Section 3.02 (b) of this
Agreement;
(d) "RosNITs "Zemlya"" means the Russian Center for Scientific
Support of Land Reform under the SLC;
(e) "Special Account" means the
account referred to in Section 2.02 (b) of this Agreement;
(f) "SLC"
means the Borrower"s State Committee on Land Resources and Land Management, or
any successor thereto; and
(g) "VISKhAGI" means the All-Russian Institute
for Agricultural Aerophotogeodetic Research under SLC.
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, various currencies
that shall have an aggregate value equivalent to the amount of eighty million
dollars (80,000,000 USD), being the sum of withdrawals of the proceeds of the
Loan, with each withdrawal valued by the Bank as of the date of such
withdrawal.
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 shall, 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 6 to
this Agreement.
Section 2.03. The Closing Date shall be June 30, 2000, 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 per cent (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 the Cost of Qualified Borrowings determined in
respect of the preceding Semester, plus one-half of one percent (1/2 of 1%). On
each of the dates specified in Section 2.06 of this Agreement, the Borrower
shall pay interest accrued on the principal amount outstanding during the
preceding Interest Period, calculated at the rate applicable during such
Interest Period.
(b) As soon as practicable after the end of each
Semester, the Bank shall notify the Borrower of the Cost of Qualified Borrowings
determined in respect of such Semester.
(c) For the purposes of this
Section:
(i) "Interest Period" means a six-month period ending on the
date immediately preceding each date specified in Section 2.06 of this
Agreement, beginning with the Interest Period in which this Agreement is
signed.
(ii) "Cost of Qualified Borrowings" means the cost, as reasonably
determined by the Bank and expressed as a percentage per annum, of the
outstanding borrowings of the Bank drawn down after June 30, 1982, excluding
such borrowings or portions thereof as the Bank has allocated to fund: (A) the
Bank"s investments; and (B) loans which may be made by the Bank after July 1,
1989 bearing interest rates determined otherwise than as provided in paragraph
(a) of this Section.
(iii) "Semester" means the first six months or the
second six months of a calendar year.
(d) On such date as the Bank may
specify by no less than six months" notice to the Borrower, paragraphs (a), (b)
and (c) (iii) of this Section shall be amended to read as follows:
"(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 Quarter equal to the Cost
of Qualified Borrowings determined in respect of the preceding Quarter, plus
one-half of one percent (1/2 of 1%). On each of the dates specified in Section
2.06 of this Agreement, the Borrower shall pay interest accrued on the principal
amount outstanding during the preceding Interest Period, calculated at the rates
applicable during such Interest Period."
"(b) As soon as practicable
after the end of each Quarter, the Bank shall notify the Borrower of the Cost of
Qualified Borrowings determined in respect of such Quarter."
"(c) (iii)
"Quarter" means a three-month period commencing on January 1, April 1, July 1 or
October 1 in a calendar year."
Section 2.06. Interest and other charges
shall be payable semiannually on April 1 and October 1 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 RosNITs""Zemlya" and VISKhAGI, and Parts B and C of the
Project through SLC and RosNITs""Zemlya", all with due diligence and efficiency
and in conformity with appropriate administrative, financial and technical
practices, and shall provide, promptly as needed, the funds, facilities,
services and other resources required for the Project (including, inter alia,
the funds referred to in Section 3.03 (b) of this Agreement, and those required
to meet all operational and maintenance costs not financed out of the
Loan).
(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 carry out the Project in accordance with the Implementation
Program set forth in Schedule 5 to this Agreement.
Section 3.02. In order
to facilitate the efficient carrying out of the Project, the Borrower shall
establish and thereafter maintain, with membership, staff and other resources
and terms of reference satisfactory to the Bank:
(a) an interagency
project coordination committee (PCC), reporting to the Chairman of SLC, to
monitor progress of project implementation and help expedite project
implementation by resolving any critical issues that might involve other
ministries or agencies; to assist in the identification of critical policy
issues relating to land reform; and to establish priorities for the preparation
of development projects in the area of land reform that might require external
financing; and
(b) a project development unit (PDU) within
RosNITs""Zemlya", to coordinate the management and day-to-day implementation of
the Project.
Section 3.03. Without limitation to the provisions of
Section 3.01 (a) of this Agreement, the Borrower shall, for purposes of the
Project:
(a) open and maintain in a commercial bank an account (the
Project Account), in local currency, to be used for ensuring a secure source of
financing for the expenditures required to be made by SLC related to its
operations in conjunction with the implementation of the Project and the
establishment and maintenance of the necessary facilities for the carrying out
of the Project, including for the operation of regional branches of SLC in
participating regions; and
(b) for each fiscal year during the execution
of the Project, make appropriate budgetary allocations to replenish such Project
Account and ensure availability of adequate resources for the financing of
expenditures by SLC during the coming fiscal year, in an amount satisfactory to
the Bank.
Section 3.04. The Borrower shall carry out, or cause to be
carried out, the plan of action referred to in paragraph IV. 4 of Schedule 5 to
this Agreement, regarding the mechanisms for ensuring adherence by participating
oblast administrations to agreed principles of cooperation for their
participation in the Project.
Section 3.05. 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 3.06. (a)
Without limitation to the provisions of Section 9.07 (a) of the General
Conditions, at the end of each six-month period during the execution of the
Project, beginning with the period concluding on June 30, 1995, the Borrower,
through PDU, shall present to the Bank a progress report on various matters
relating to land registration, as measured by appropriate performance
indicators. Such reports shall be consolidated into an annual report covering
the preceding calendar year, to be presented to the Bank no later than March 31
of each year during the execution of the Project.
(b) The Borrower shall,
through SLC and PDU, carry out an annual review of Project implementation to be
held in the third quarter of each calendar year during the execution of the
Project beginning in 1995. Each such review shall examine, based on the reports
referred to in paragraph (a) of this Section, the status of land registration
and conclude a plan of action satisfactory to the Bank, including specific goals
and projections for Project implementation during the succeeding twelve months.
The Borrower shall cause SLC to carry out each such plan of action for the
Project during the twelve months following its conclusion pursuant to this
Section.
(c) Each such annual review referred to in paragraph (b) of this
Section shall also examine SLC"s budgetary resources and include, as necessary,
a commitment or other arrangements satisfactory to the Bank, for ensuring the
fulfillment of the Borrower"s obligations pursuant to Section 3.01 (a) of this
Agreement, for the fiscal year following.
Section 3.07. (a) The Borrower
shall employ cost recovery measures acceptable to the Bank designed to ensure
that the recurrent costs of operating its land registration system are recovered
out of user fees paid by users of services performed by SLC.
(b) The
Borrower shall prepare and implement a schedule of fees acceptable to the Bank
to be charged to users for activities carried out by SLC relating to land
registration under Part B of the Project, which shall be subject to periodic
adjustment by SLC in order to achieve the objectives of the Project, based on
the results of the Project implementation reports referred to in Section 3.06 of
this Agreement.
Section 3.08. The Borrower shall, by December 31, 1996,
complete a feasibility study describing proposals for expanding the cadastre and
registration referred to in Part B.1 of the Project to regions not covered by
the Project, such study to include the estimated funding requirements for
establishing and maintaining such cadastre and registration and analysis of the
organization and capacity of the institutions of the Borrower responsible for
maintaining such cadastre and registration, and other matters satisfactory to
the Bank.
Section 3.09. The Borrower shall:
(a) carry out all
technical assistance activities included in the Project under terms of reference
satisfactory to the Bank which, when applicable, shall include specific programs
or plans of action to meet the objectives of the Project;
(b) promptly
after the completion of each technical assistance activity, furnish to the Bank
a copy of its findings and recommendations including such programs or plans of
action; and
(c) afford the Bank a reasonable opportunity to comment on
such findings, recommendations and programs or plans of action.
Section
3.10. Regarding the training programs to be carried out under the Project, the
Borrower shall:
(a) furnish to the Bank for approval the content of each
of such programs as well as the schedule for its implementation;
(b)
select the beneficiaries of such training programs in accordance with criteria
satisfactory to the Bank;
(c) not later than September 30 of each year,
exchange views with the Bank on the training programs to be carried out in the
following calendar year; and
(d) furnish to the Bank a report of such
scope and detail as the Bank shall reasonably request, on the results of each
training program and the benefits to be derived therefrom.
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
