Development Kredit Agreement (Land and Real Estate Registration Project) between Kyrgyz Republic and International development association (June 29, 2000)

Credit number 3370 KG

Development Kredit Agreement
(Land and Real Estate Registration Project)
between Kyrgyz Republic and International development association
(June 29, 2000)

Ратифицировано Указом Президента КР от 4 сентября 2000 года № 254

AGREEMENT, dated June 29, 2000, between KYRGYZ REPUBLIC (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association).

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 Association to assist in the financing of the Project;

WHEREAS the Association has agreed, on the basis, inter alia, of the foregoing, to extend the Credit 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 Development Credit Agreements» of the Association, dated January 1, 1985 (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) «Gosregister» means the State Agency of the Borrower for the Registration of Immovable Property Rights established under the Decree of the President of the Kyrgyz Republic No. 49 of February 22, 1999 or any successor thereto;

(b) «Goskominvest» means the State Committee on Foreign Investments and Economic Development of the Borrower established by the Decree of the President of Kyrgyz Republic No. 271 of September 1, 1998, or any successor thereto;

(c) «Law on State Registration of Rights in Immovable Property» means the Law of the Kyrgyz Republic No. 153 of December 22, 1998;

(d) «PIU means the Project Implementation Unit established within Gosregister for overall coordination of the implementation of the Project and referred to in paragraph 2 of Schedule 4 of this Agreement or any successor thereto;

(e) «Project Management Report» means each report prepared in accordance with Section 4.02 of this Agreement;

(f) «Project Preparation Advance» means the project preparation advance granted by the Association to the Borrower pursuant to the Letter-Agreement No. Q198-0-KG signed on behalf of the Association on October 27, 1999, and on behalf of the Borrower on November 11, 1999; and

(g) «Special Account» means the account referred to in Section 2.02 (b) of mis Agreement.

Article II. The Credit

Section 2.01. The Association agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Development Credit Agreement, an amount in various currencies equivalent to seven million one hundred thousand Special Drawing Rights (SDR 7,100,000).