On the ratification of the Agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development on a loan for the development of the Financial sector and the Enterprise sector
Decree of the President of the Republic of Kazakhstan dated August 11, 1995 N 2407
Based on Article 2 of the Law of the Republic of Kazakhstan dated December 10, 1993 "On the temporary delegation of additional powers to the President of the Republic of Kazakhstan and heads of local administrations", I hereby decree: 1. To ratify the Agreement between the Republic of Kazakhstan and the International Bank for Reconstruction and Development on a loan for the development of the Financial Sector and the Enterprise sector, signed in Washington on July 31, 1995. 2. This Decree shall enter into force from the date of publication. President of the Republic of Kazakhstan Loan Agreement (Financial Sector and Enterprise Sector Development Project) between the Republic of Kazakhstan and the International Bank for Reconstruction and Development on July 31, 1995 <*> (informal text) Agreement dated July 31, 1995 between the Republic of Kazakhstan (Borrower) and the International Bank for Reconstruction and Development (Bank). Due to the fact that: A) The Borrower, having agreed with the suitability, feasibility and priority of the project described in Appendix 2 to this agreement, requested the Bank to finance this project; B) Parts B2, BZ, B4 and C, (d) of the project will be implemented by the National Bank of the Republic of Kazakhstan (NBK) with the assistance of the Borrower as part of this assistance. The Borrower will provide the loan proceeds to the NBK subject to this agreement; and since the Bank agrees, based on the foregoing, to provide a loan to the Borrower on the terms specified in this agreement and the terms specified in the project agreement on the date of signing this document between the Bank and the NBK; the Parties hereby agree as follows:
Article 1 General Terms and Conditions; Definitions Section 1.01. "General Provisions in relation to Credit and Guarantee Agreements" of the Bank dated January 1, 1985, as amended below (General Terms and Conditions) form an integral part of this agreement: a) delete the last sentence of Section 3.02. b) in section 6.02, subparagraph "k" is given as subparagraph "l", and the new subparagraph "k" should be read as follows: "k) In case of emergency situations in which further withdrawal in accordance with this loan will not comply with the provisions of article III, section 3 of the Articles of Agreement of the Bank." Section 1.02. Unless the context requires otherwise, some of the terms and conditions defined in the general terms and Conditions and the Preamble to this agreement will have the appropriate meaning and the following additional terms will have the following meanings: a) "Bank Development Project" refers to a financing project in accordance with the agreement on additional financing, restructuring, modernization and strengthening operational and financial capabilities of a qualified Bank using proceeds from a sub-loan for banking development, selected in accordance with the procedures set out in Parts A) and B) of Annex 1 of the project agreement. b) "Sub-loan of bank development" refers to a sub-loan of foreign currency made or proposed by the NBK in accordance with an agreement on additional financing from borrowed proceeds to a qualified bank for a banking development project. c) "MOE" means the Ministry of Economy of the Borrower. d) "MF" means the Borrower's Ministry of Finance. e) "NBK" means the National Bank of the Republic of Kazakhstan, the central bank of the Borrower, established and operating in accordance with the Borrower's Law "On the National Bank of the Republic of Kazakhstan" dated April 13, 1993, which may change from time to time. f) "NBK Supplementary Loan Agreement" means an agreement that enters into force between the Borrower and the NBK in accordance with Section 3.01.c) of this Agreement, which may also change from time to time, and that this term includes all proposals in the NBK Supplementary Loan Agreement. (e) "Qualified banks" means two medium-sized or two large banking institutions registered and accredited in the Borrower's territory and selected in accordance with the accreditation procedures and criteria specified in parts A) and B) of Annex 1 to the project agreement for the implementation of the banking development project. g) "PRP" means the project implementation unit established by the Borrower within the framework of the Ministry of Finance, MF and NBK, as described in Annex 5 to this agreement. h) "Project Agreement" means the agreement reached between the Bank and the NBK by this date, which may also change from time to time, and that this term includes all annexes and additional agreements to this project agreement. i) "Project Preparation Advance" means the project preparation advance provided by the Bank to the Borrower in accordance with the exchange of letters dated April 17, 1995 and May 16, 1995 between the Borrower and the Bank. k) "KPRD" means the debt restructuring advisory unit established by the Borrower in accordance with Section 3.01. b) (1.1) of this agreement. l) "Rehabilitation Trust" means a debt review institution founded and operated by the Borrower in accordance with Presidential Decree No. 2154 of March 29, 1995. m) "GCI" means the State Property Committee or any other institution of the Borrower. h) "Special Accounts" means the accounts referred to in section 2.02.b) of this Agreement. h) "Supplementary Financing Agreement" means any agreement reached between the NBK and a qualified bank referred to in section 1 of the project agreement, which may sometimes be amended, regarding the financing of the NBK banking development project, and this term includes all annexes to this supplementary financing agreement.
Article 2 Loan Section 2.01. The Bank agrees to lend to the Borrower, on the terms specified in the loan agreement, various currencies with a total value equivalent to $ 62 million, representing the amount of withdrawals from borrowed funds, and each withdrawal from the account is accompanied by an assessment by the Bank on the day of the transaction. Section 2.02. a) The loan amount may be withdrawn from the loan account in accordance with the provisions of Annex 1 to this agreement for the costs incurred (or if the Bank agrees, for the costs to be incurred) in respect of the significant cost of goods and services required for the project described in Annex 2 to this agreement, which will be financed from borrowed income. b) For the purposes of the project, the borrower may open and have 3 special dollar deposit accounts with a commercial bank on terms that satisfy the Bank, including appropriate protection against offsetting, seizure or seizure. Deposits and payments from special accounts will be made in accordance with the provisions of Annex 6 to this agreement. c) Immediately after the effective date of the Agreement, the Bank must, on behalf of the Borrower, withdraw from the loan account and pay itself the amount necessary to repay the principal amount of the advance payment for the preparation of the project, withdrawn and overdue on this day, and perform all unpaid procedures. The outstanding balance of this advance payment for the preparation of the project must be cancelled. Section 2.03. The final date will be September 30, 1998, or any other later date as determined by the Bank. The Bank must immediately notify the Borrower of this late date. Section 2.04. The borrower must pay to the Bank a commitment fee at a rate of 3/4 of one percent annually for the principal amount of the loan, which will not be withdrawn from the account from time to time. Section 2.05. a) The borrower must pay interest on the principal amount of the outstanding and withdrawn loan at a rate for each project period equal to the cost of qualified loans determined in relation to the previous semester + 1/2 of one percent. On each of the dates specified in Section 2.06 of this agreement, the Borrower must pay the interest accrued on the principal amount overdue during the previous interest period, calculated at the rate used during this period. b) As applied, at the end of each semester, the Bank must notify the Borrower of the cost of qualified loans determined for that semester. c) For the purposes of this section: 1) "percentage period" means the six-month period ending on the day immediately preceding the date specified in section 2.06 of this agreement, including the percentage period when this agreement is signed. 2) "cost of qualified loans" means the cost determined by the Bank and expressed as a percentage annually of the overdue loans of the Bank made after July 30, 1982, excluding such loans or shares that the Bank has placed to finance: a) bank investments; b) loans that may be made by the Bank after July 1, 1989, indicating interest rates that are not determined as specified in paragraph A of this section. 3) "semester" means the first six months or the second six months of a calendar year. d) On a date that may be determined by the Bank, but not less than six months after the Borrower's notification, paragraphs a), b) and c) 3) of this section will be amended as follows: "a) The Borrower must pay interest on the principal amount of the loan withdrawn from the account and outstanding from time to time. the rate for each quarter is equal to the cost of qualified loans determined in relation to the previous quarter + 1/2 of 1%. On each of the dates specified in section2.06 of this agreement, the Borrower must pay interest accrued on the principal amount outstanding during the previous interest period, calculated at the rates applicable during that interest period.". "b) As used, at the end of each quarter, the Bank must notify the Borrower of the cost of qualified loans determined for that quarter.". "c) 3) "Quarter" means a three-month period beginning on January 1, April 1, July 1, and October 1, respectively, of a calendar year.". Section 2.06. Interest and any other charges must be paid twice a year on January 15th and July 15th. Section 2.07. The borrower must repay the principal amount of the loan in accordance with the depreciation schedule specified in Appendix 3 to this agreement. Section 2.08. The NBK is appointed as the representative of the Borrower with respect to Parts B 2), B H), B 4) and C) of this project, if any authorization or necessary actions are taken in accordance with the provisions of Section 2.02 of this agreement and Article V of the General Terms.
Article 3 Project implementation
Section 3.01. a) The Borrower declares its commitment to the objectives of this project set out in Annex 2 to this agreement and to this end: 1) must implement Parts A), B 1) and C), a), b), c) of the project with appropriate care and effectiveness, and in accordance with certain administrative and financial methods, and must provide, as necessary, the financial resources, buildings, services and other sources necessary for these parts of the project.; 2) without limitation of obligations under the loan agreement, the Borrower must compel the NBK to fulfill all its obligations specified in the project agreement and must take all actions, including providing financial resources, buildings, services, or any other resources necessary for the NBK to fulfill this obligation and must not take any actions. actions that would interfere with such implementation. b) Without limiting the provisions of paragraph a) of this section and except in cases where the Borrower and the Bank agree to the contrary, the Borrower must: 1) implement Parts A), B 1) and C), a), b) and c) of the project in accordance with the implementation program specified in Annex 5 to this agreement; and 2) establish KPRD as an independent entity with its own budget and appropriate staff for the Bank to implement Part A (2) of this project. c) The Borrower must re-lend the equivalent of the borrowed proceeds allocated in categories 1b) and b), 2wd) and Zv) of the data table in paragraph 1 of Annex 1 to this NBK Agreement in accordance with the additional lending agreement (NBK Additional Lending Agreement), which will enter into force between the Borrower and the NBK in accordance with with conditions to be approved by the Bank, which will include the following conditions: 1) the implementation by the NBK of Parts B2, BZ, B4 and Vg of the project carefully and efficiently and in accordance with administrative, financial and banking methods, as well as with the applicable annexes of the project agreement; 2) the use of financial resources and the provision of goods and consulting services necessary for the implementation of parts B.2, B.3, B.4Bg) of the project; 3) maintaining protocols and accounting statements that will correspond to clear accounting methods of expenses and resources related to the provision of goods and consulting services for parts B.2, B.3, B.4 and Bg) of the project and the auditing of such accounting accounts and protocols in accordance with certain auditing standards; 4) acceptance (assuming) currency risk; 5) the principal amount must be lent by the Borrower to the NBK, in the currency for which the loan is to be made, the interest rate and other payments must be made by the NBK to the Borrower, with the maturity and grace periods applicable for the loan; 6) the accreditation criteria according to which the NBK must select qualified banks, as well as the terms and conditions according to which, the NBK must make sub-loans of banking development to qualified banks in accordance with the agreements on additional financing. d) The Borrower must exercise its rights in accordance with the NBK's supplementary loan agreement in such a manner as to protect the interests of the Borrower and the Bank, as well as to achieve the objectives of the loan, except, unless the Bank agrees otherwise, the borrower must not appoint, amend, cancel, or cancel the NBK's supplementary loan agreement or any other of its the position. Section 3.02. With the exception of cases specified by the Bank, the provision of goods and consulting services necessary for Parts A, B1, C, a, b, c of this project and for financing loan proceeds must be based on the provisions of Annex 4 to this agreement.
Section 3.03. Without limitation to the provisions of Article 9 of the General Terms and Conditions, the Borrower must: a) prepare and submit to the Bank, no later than 6 months from the date of the final date that may be agreed for this purpose between the Borrower and the Bank, a plan of a certain scale and in the form requested by the Bank for future operations of the project; b) provide the Bank with an opportunity to exchange views with the Borrower on the above plan; c) implement the above plan carefully and effectively, in accordance with general methods, taking into account the comments of the Bank. Section 3.04. The Bank and the Borrower hereby agree that the bonds specified in the sections 9.04, 9.05, 9.06, 9.07, 9.08, 9.09 General Terms and Conditions (regarding insurance, use of goods and services, plans and applications, protocols and reports, ownership and purchase of land, or rights related to land) in relation to Parts B2, BZ, B4 and Vg of the project must be implemented by the NBK in accordance with Section 2.03 of the project agreement.
Article 4 Financial Regulations Section 4.01. a) The Borrower must maintain the protocols and accounting records necessary to reflect the activities in accordance with clear accounting methods of resources and expenses in relation to parts A, B1 and B a, b, c of the project departments or agencies of the Borrower responsible for the implementation of the project or any other parts of it. b) The borrower must: 1) keep the protocols and accounting statements referred to in paragraph a) of this section, which include those special accounts for each financial year, audited in accordance with certain principles and standards of auditing by independent auditors meeting the requirements of the Bank; 2) provide the Bank as necessary, but not later, less than 6 months after the end of this year of the audit report by the above-mentioned auditors to the extent and in the form in which it was requested by the Bank; 3) provide the Bank with other other information regarding the above-mentioned protocols and accounting statements, as well as audits as requested by the Bank. c) For all expenses for which a withdrawal has been made from the credit account based on expense reports, the Borrower must: 1) keep or involve in the maintenance of protocols and accounting records reflecting such expenses in accordance with paragraph a) of this section; 2) keep at least until 1 year after the Bank receives the audit reports for the financial year when the last withdrawal from the loan account or payment of special accounts was made, all protocols (contracts, orders, invoices, receipts and other documentation) indicating such expenses; 3) allow the Bank's representatives to study these protocols; 4) ensure that these protocols and accounting statements are included in the annual audits referred to in paragraph b) of this section and that the report on this audit contains a separate opinion expressed by the auditors as to whether reports on expenses provided during this financial year, together with the procedures considered to support the above withdrawal operations from the account.
Article 5 Banking measures Section 5.01. In accordance with section 6.02 1) The General Provisions specify the following additional measures: a) In the event that the NBK has failed to fulfill any of its obligations under the draft agreement. b) As a result of measures that took place after the date of the loan agreement in the event of an emergency that would make it impossible for the NBK to fulfill its obligations under the project agreement. c) The Borrower's Law "On the National Bank of the Republic of Kazakhstan" will be amended, repealed, or cancelled, which will negatively affect the ability of the NBK to fulfill its obligations in accordance with the project agreement. d) The Borrower or any other authority having jurisdiction will take actions to liquidate the NBK or terminate its activities. Section 5.02. In accordance with section 7.01. h) of the General Terms and Conditions, the following additional measures are provided: a) In the event that the measures referred to in section 5.01 (a) take place. and will continue for a period of 60 Days after notification of this by the Bank to the Borrower and the NBK. b) Any action specified in paragraphs b or c of section 5.01. of this agreement that will take place.
Article 6 Effective date; termination Section 6.01. The following measure is specified as an additional condition for the entry into force of the loan agreement under Section 12.01 b) The General Terms and Conditions, namely that the additional loan agreement of the NBK was implemented on behalf of the Borrower and the NBK. Section 6.02. The following measures are considered as additional measures under section 12.02 b) General conditions that should be included in the point of view presented to the Bank: a) that the project agreement has been duly authorized or ratified by the NBK and that it is binding on the NBK in accordance with its authority; b) that the additional loan agreement of the NBK has been duly authorized or ratified by the Borrower and the NBK and is binding on the Borrower and the NBK in accordance with their authority. Section 6.03. The period of 90 days after the signing of this agreement is hereby specified for the purposes of section 12.04. of the General Terms and Conditions.
Article 7 Representatives of the Borrower. Addresses Section 7.01. Except as provided in Section 2.08. of this agreement, the Borrower's Minister of Finance was appointed as the Borrower's representative for the purposes of Section 11.03. General terms and conditions. Section 7.02. The following addresses are indicated for the purposes of Section 11.01. General Terms and Conditions: from the Borrower: Ministry of Finance of the Republic of Kazakhstan, Almaty, Ablay Khan Avenue, telex: 251245 FILIN; from the Bank: International Bank for Development and Reconstruction, USA, Washington, DC 20433, H.Street 1818. In witness whereof, the parties hereby, acting through their authorized representatives, have decided that this agreement shall be signed by their respective names on the above-mentioned day and year in the United States, District of Columbia. Appendix 1 Withdrawal of loan proceeds The table below shows the category of goods for financing loan proceeds, deductions of loan amounts for each category, and the percentage of expenses for goods for financing each category.:
__________________________________________________________________________ Category |Amount of loan deductions | Percentage of expenses | (indicated in dollars |for financing |equivalent) | --------------------------------------------------------------------------
1. Goods for: 120,000 100% of the external consumption a) parts A.2 and A.3 100% of the internal consumption project and 75% of the consumption for other goods b) parts B.4 and C of the project 22,850000 c) part B.2 of the project 8,000000
2. Consulting services for: a) Parts A.1 of Project 4,925,000 100% b) Parts A.2 and A.3 of Project 10,035,000 100% c) Parts B.4 and C of project 1,545,000 100% d) part B.1 of project 1,8500,000 100% e) part B.2 of project 4,000000 100% f) parts C a), b), c) project 546000 100 % 3. Training for: a) Part A.1 of Project 78000 100% b) Parts A.2 and A.3 1.102000 100% of project c) Part B.3 of Project 999000 100% 4. Preliminary 1.500000 Amount relative to the refinancing of the project section 2.02 of this agreement 5. Advance payment for preparation for 4,450000 placement of 62,000,000 2. For the purposes of this appendix: a) The term "foreign expenses" refers to the foreign exchange expenses of any country to which the Borrower does not belong for goods or services provided from the territory of another country and not from the one from which the Borrower is represented; b) The term "local expenditure" refers to the expenditure of the Borrower's foreign currency or goods or services provided from the Borrower's territory.
3. Notwithstanding the provision of paragraph 1, no withdrawals may be made in respect of payments made for: (a) Expenses made prior to the date of this agreement, except for withdrawals in the total amount not exceeding USD 6,200,000, which must be made in respect of categories 1, 2 and 3 of this annex on payment invoices incurred for expenses before this date, but after June 30, 1994; b) expenses in respect of category 2g of this annex if: 1. The Rehabilitation Trust was established in accordance with Presidential Decree No. 2154 of March 29, 1995 and in the appropriate manner for the Bank.;
2. The Borrower has adopted legal and regulatory decisions relevant to the Bank, including the settlement of debt claims without recourse to the courts and necessary for the successful operation of the rehabilitation trust; c) expenses in respect of categories 1b and 2d of this annex, until the banking development project is approved in accordance with the procedures and criteria for accreditation and conditions, specified in Appendix 1 to the project agreement.
4. The Bank may request the withdrawal of accounts from the loan account, which must be made on the basis of reports on expenditures for goods and services in accordance with the contracts, not exceeding the equivalent amount of 10,000 US dollars, in accordance with such Terms as the Bank may specify to the Borrower.
Appendix 2 Project Description The objectives of this project are to stimulate the process of enterprise reform, improve the provision of banking services, and strengthen the regulatory structure and institutional capabilities of the Borrower's financial system. The Project consists of the following parts, subject to changes that the Borrower and the Bank may make by mutual agreement to achieve these goals:
Part A: Enterprise reform
1. Assistance in privatization Implementation of the Borrower's privatization program through the provision of consulting services and training. 2. The Debt Restructuring Advisory Unit provides assistance in privatization, liquidation and restructuring to enterprises located on the Borrower's territory through the provision of consulting services, training and KPRD products.
3. Introductory program for managers of enterprises Strengthening the management's ability to resolve financial and marketing problems of managers of enterprises located in the Borrower's territory through the provision of consulting services and training.
Part B: Financial sector reform
Part B: Financial sector reform
1. Rehabilitation Trust Provides assistance in the management, restructuring and liquidation of indebted enterprises located on the Borrower's territory through the provision of consulting services, training, and goods for the functioning of the rehabilitation trust.
2. Development of commercial banking operationsdevelopment and strengthening of the commercial banking sector through the provision of goods and consulting services in accordance with banking development projects.
3. Creating opportunities for on-site management of the Bank's operations Strengthening the Bank's on-site management capabilities through training.
4. Long-term payment system The development of an effective payment system through the provision of goods, consulting services and training. Part C: Project implementation assistance Strengthening the Borrower's project implementation capabilities through the provision of consulting services, training, and goods: a) MF, b) GCI, c) ME, d) NBK. * * * The project is expected to be completed by March 31, 1998.
Appendix 3
Depreciation schedule ------------------------------------------------------------------------- Payment date | Payment of the principal amount (in US dollars) _________________________________|_______________________________________ 15 January and July 15 starting January 15, 2001 to January 15, 2012 2,585,000 and July 15, 2012 2,545,000 Advance payment premiums In accordance with Section 3.04 b) Under the General Terms and Conditions, the premium payable on the principal amount with any loan repayment period must be prepaid in the percentage indicated below for the corresponding prepayment time.: Prepayment time Premium is the interest rate (expressed as a percentage per year) applied to the loan on the day of prepayment multiplied by: no more than 3 years to 0.18 maturity no more than 3 years, but no more than 0.35 more than 6 years to maturity more than 6 years, but no more than 0.65 11 years to maturity of more than 11 years, but not more than 0.88 15 years to maturity of more than 15 years to maturity of 1.00
Appendix 4 Provision of goods and consulting services
Section 1. Provision of goods Part A: International bidding offer
1. With the exception of what was provided in Part B of this agreement, the goods must be provided in accordance with the concluded contracts and in accordance with the procedures specified in sections 1 and P of the "Guidelines for the provision of loans from the IBRD and IDA Loans, published by the Bank in May 1992. (Guidelines), and in accordance with the following additional procedures: (a) If the conclusion of the contract is postponed beyond the originally agreed period, such period may be extended again in accordance with the provisions of paragraph 2.59 of the Guidelines for the minimum period of time necessary to complete the assessment process, obtain the necessary approval, customs clearance and the conclusion of the contract. The validity period of the offer may be extended a second time only if the tender documents or the request for an extension indicate an appropriate adjustment of the proposed price to reflect changes in the cost of the contract during the extension period. Such an increase in price will not be taken into account when evaluating the offer. For each completed contract that is subject to the Bank's preliminary review in accordance with the provisions of Paragraph G.2a) of this section, the Bank's prior approval will be required for: 1) the first extension of the offer period if the extension period exceeds 60 days; and 2) any other subsequent extension of the offer period. b) When providing goods in accordance with this Part A, the Borrower must use the appropriate standard tender documents provided by the Bank with such modifications as the Bank deems necessary for the purposes of this project. If the relevant standard tender documents are not submitted by the Bank, the Borrower must use tender documents based on other internationally recognized standard forms agreed with the Bank.
Part B. Privileges for local producers When providing goods in accordance with the procedures described in Part A.1 of this document, goods manufactured in the Republic of Kazakhstan may be given an advantage in accordance with the provisions of paragraphs 2.55 and 2.56 of the Guidelines and paragraph 1-4 of Annex 2. Part B. Other procedures for the provision of goods and services
1. The name or groups of certain goods with a limited number of suppliers, amounting to a total amount equivalent to 400,000 US dollars, may be supplied in accordance with concluded contracts using limited international competitive procedures based on the evaluation and analysis of proposals received from a list of potential suppliers selected in accordance with the Main Directions, sufficient to guarantee competitive prices and in in accordance with the procedures specified in section 3, paragraph 3.2 of the Guidelines.
2. The name or groups of goods valued at 200,000 US dollars or less under the contract, amounting to a total amount equivalent to 800,000 US dollars, may be supplied in accordance with the concluded contracts on the basis of a comparison of price quotations received from at least three suppliers from three different States, selected in accordance with the Main Directions and in accordance with procedures that satisfy the Bank.
3. Names or groups of goods valued at 50,000 US dollars or less per contract with a total amount of 100,000 US dollars may be delivered in accordance with the concluded contracts based on a comparison of price quotations received from at least three suppliers selected in accordance with the Main Directions and in accordance with procedures satisfactory to the Bank.
4. Contracts for goods that, with the consent of the Bank, are of a proprietary nature in the total amount of 1,000,000 US dollars may be concluded after direct negotiations with suppliers in accordance with procedures satisfactory to the Bank.
Part D. Analysis of the Bank's supply decisions
1. Analysis of invitations to participate in the competition and proposals, as well as final contracts: a) For each contract concluded in accordance with the international competitive procedures for reviewing proposals referred to in Part A.1 of this document, the limited international competitive procedures referred to in Part B.1, the commercial procedures referred to in Part B.4 of this document, and the first two contracts concluded in accordance with with the international procedures referred to in Part B.2, procedures should be used, specified in paragraphs 2 and 4 of Appendix 1 to the Main Directions. In the event that payment for this contract is not made from special accounts, such procedures will be changed in order to ensure that two confirmed copies of the required contract will be provided to the Bank in accordance with paragraph 2 (d) above, which will also be submitted to the Bank prior to the first payment from special accounts in respect of this contract.. b) For each contract not covered by the previous paragraph, the procedures specified in paragraphs 3, 4 of annex 1 to the Guidelines should be applied. In the event that payment under this contract is made from special accounts, the above procedures will be changed so as to ensure that two agreed copies of the contract, along with other necessary information, have been submitted to the Bank in accordance with paragraph 3 above as part of the document to be submitted in accordance with paragraph 4 of Annex 6. to this agreement. c) The provisions of the previous subparagraph (b) should not be used by the contract for the account from which the withdrawal is made from the Credit Account based on expense reports.
2. The figure of fifteen percent is hereby indicated for the purposes of Paragraph 4 of Annex 1 to the Guidelines.
Section P Employment of consultants
1. To assist the Borrower in the implementation of the project, the Borrower must hire consultants whose experience, qualifications, terms and conditions of employment will satisfy the Bank. These consultants should be selected in accordance with the principles and procedures that satisfy the Bank based on the "Guidelines for the use of consultants by Borrowers of the World Bank and the World Bank as an executive Agency" published by the Bank in August 1981 (Guidelines for the provision of advisory services). To carry out more complex, lengthy assignments, the Borrower must hire such consultants in accordance with the contracts using a standard form for concluding a contract for the provision of Consulting Services issued by the Bank with amendments agreed by the Bank. If no relevant standard contractual documents are provided by the Bank, the Borrower must use other standard forms agreed with the Bank.
2. Notwithstanding the provisions of paragraph 1 of this section, the provisions of consulting guidelines requiring prior banking analysis or budget approval, a short list, selection procedures, invitations, proposals, evaluation reports and contracts should not be used for: a) contracts for the employment of consulting firms valued at less than 100,000 USD each, or b) contracts for the employment of individual consultants, estimated at less than 50,000 USD each. However, this exception to the previous banking analysis should not be used for: a) the terms of reference for these contracts; b) selecting a single source from among consulting firms; c) assignments that are critical, mainly determined by the bank; d) changes and amendments to employment contracts of consulting firms that raise the contract value to an equivalent amount 100,000 US dollars or more; and e) amendments to contracts for the employment of individual consultants, increasing the contractual value to an amount equivalent to 50,000 US dollars or more. Annex 5 Implementation program
1. The Borrower's agencies listed below must implement, on behalf of the Borrower, the following parts of the project that are subject to the provisions of paragraph 2 of this annex.
5: Agency Parts of the project GKI parts A.1 and Wb) ME parts A.2, A.3 and Bb) MF parts B.1 and Va) NBK parts B.2, B.3, B.4 and Vg)
2. NBK will also be responsible for the supply and distribution of consulting services, training and provision of goods in accordance with Parts A), B), Bb) of the project, AME will be responsible for the supply and distribution of consulting services, training and provision of goods in accordance with Part B.1 of this project.
Appendix 6 Special accounts 1. For the purposes of this appendix: (a) The term "Individual Categories" refers to categories 2a) and 2) in relation to Special account A, category 1a), 2b), 2g) and Zb) in the case of special account B and category 1b), 1b), 2b), 2g), 2e) and C) in relation to the special account B specified in the table in paragraph 1 of Annex 1 to this agreement; b) The term "individual expenses" refers to expenses in relation to the cost of goods and services required for the project, which will be financed from borrowed proceeds reimbursed from time to time in certain categories in accordance with the provisions of annex 1 to this agreement.; c) The term "statutory placement" refers to: 1) the amount equivalent to 100,000 US dollars to be withdrawn from the credit account and deposited into special Account A in accordance with paragraph Z) of this appendix, subject to the Bank's consent, the authorized placement will be limited to an amount equivalent to 50,000 US dollars until the total amount of withdrawals from the credit account plus the total amount of all overdue payments The special obligations assumed by the Bank in accordance with Section 5.02 of the General Terms and Conditions will not amount to or exceed the equivalent of USD 0.5 million.; 2) an amount equivalent to 200,000 US dollars, which must be withdrawn from the borrowed account and deposited into special account B in accordance with paragraph (C) of this appendix, provided, however, before the Bank's approval, that the authorized placement will be limited to an amount equivalent to 100,000 US dollars, while the total amount of withdrawals from the borrowed account plus the total amount all overdue special obligations assumed by the Bank in accordance with Section 5.02 of the General Terms and Conditions will not be equal to or exceed the equivalent amount of USD 1.5 million.; and 3) an amount equivalent to 300,000 US dollars to be withdrawn from the borrowed account and deposited into a special account in accordance with paragraph (A) of this appendix, provided that, pending the Bank's approval, the authorized placement will be limited to an amount equivalent to 100,000 US dollars until the free amount of withdrawals from the borrowed account plus the total amount All overdue special obligations will be assumed by the Bank in accordance with Section 5.02 of the General Terms and Conditions, which will amount to or exceed the equivalent amount of USD 4.0 million.
2. Payments from special accounts must be made exclusively for certain expenses in accordance with the Provisions of this annex.
3. After the Bank receives confirmation that the special accounts have been appropriately opened, withdrawals from the accounts of the authorized placement of the corresponding withdrawal of accounts to cover the special accounts will be made as follows: a) in order to withdraw the authorized placement, the Borrower must submit to the Bank a request for deposit, which will not exceed the total amount of the authorized placement. Based on this request, the Bank, on behalf of the Borrower, will withdraw money from the borrowed account and deposit this amount or the amount requested by the Borrower into the appropriate special accounts. b) 1) coverage of special accounts The Borrower must submit to the Bank a request for deposit to special accounts within such time limits as will be specified by the Bank. 2) before or at the time of submitting such a request, the Borrower must provide the Bank with the documents or any other evidence required in accordance with paragraph 4 of this annex for payment in respect of which this coverage is requested. Based on this request, the Bank, on behalf of the Borrower, will withdraw from the borrowed account and deposit into special accounts such amounts as will be requested by the borrower and, as these documents and other evidence of payment are provided, which will be made from special accounts for certain expenses. All types of such deposits will be withdrawn by the Bank from the borrowed account in accordance with certain categories and corresponding equivalent amounts, as provided and indicated in the documents.
4. For each payment made by the Borrower from special accounts, the Borrower will provide, upon request from the Bank, such documents indicating that this payment was made solely for certain expenses.
5. Despite the provisions of paragraph 3 of this annex, the Bank will not be required to make additional deposits to special accounts: a) If it is determined at any time that an additional withdrawal must be made by the Borrower directly from the borrowed account in accordance with the provisions of Article 5 of the General Terms and Conditions of paragraph A of Section 2.02 of this agreement; b) If the Borrower is unable to provide to the Bank within the period specified in Section 4.01. b) 2) of this agreement, any of the audit reports that must be submitted to the Bank in accordance with the above section regarding the audit of protocols and accounting statements for special accounts; c) If at any time when the Bank notifies the Borrower of its intention to terminate partially or completely the Borrower's right to withdraw from the borrowed account in in accordance with the provisions of section 6.02. of the General Terms and Conditions; d) As soon as the total outstanding loan amount placed in certain categories, which is less than the overdue special obligation assumed by the Bank, in accordance with Section 5.02. of the General Terms and Conditions for the project, will be equated to double the equivalent of the amount of the authorized placement. After that, the withdrawal from the borrowed account of the remaining outstanding loan amount placed in certain categories will be carried out following the procedure as the Bank notifies the Borrower about it. Such additional withdrawal should be made only after and to the extent that the Bank is satisfied that the entire amount remaining on the deposit of special accounts at the time of notification will be used to pay certain expenses.
6. a) If the Bank determines at any time that payments from special accounts: 1) were incurred for expenses or in an amount undetermined in accordance with paragraph 2 of this annex; or 2) were not justified by the documents submitted to the Bank, the Borrower must immediately upon notification by the Bank:
a) provide additional information as requested by the Bank;
b) deposit into special accounts (or if the Bank so requests to refinance to the Bank) an amount equal to the amount of such payment or a share unspecified by this document. Until a decision is made by the Bank, no additional deposits may be made by the Bank to special accounts until the Borrower submits such documents or makes such a deposit or refinancing as may be necessary on a case-by-case basis.
b) If the Bank determines at any time that any overdue amount in special accounts will not be required to cover additional payments for certain expenses, the Borrower must immediately, upon notification from the Bank, refinance such overdue amount to the Bank.
c) Upon notification by the Bank, the Borrower may refinance to the Bank all or part of the share of funds deposited into special accounts. d) Refinancing to the Bank must be carried out in accordance with paragraph 6 (a),
b) and c) of this application, which must be credited to a borrowed account for appropriate withdrawal or cancellation in accordance with certain provisions of this agreement, including the General Terms and Conditions.
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