On the ratification of the Framework Agreement between the Republic of Kazakhstan and the European Investment Bank regulating the activities of the European Investment Bank in the Republic of Kazakhstan
Law of the Republic of Kazakhstan dated November 2, 2010 No. 345-IV
To ratify the Framework Agreement between the Republic of Kazakhstan and the European Investment Bank regulating the activities of the European Investment Bank in the Republic of Kazakhstan, signed in Brussels on April 10, 2010.
President of the Republic of Kazakhstan N. Nazarbayev
FRAMEWORK AGREEMENT between the Republic of Kazakhstan and the European Investment Bank governing the activities of the European Investment Bank in the Republic of Kazakhstan
(Bulletin of International Treaties of the Republic of Kazakhstan, 2011, No. 3, Article 37) (Entered into force on April 13, 2011)
Concluded between: The Republic of Kazakhstan, represented by the Secretary of State of the Republic of Kazakhstan - Minister of Foreign Affairs of the Republic of Kazakhstan Kanat Saudabayev (hereinafter - "Kazakhstan"), on the one hand, and the European Investment Bank, whose head office is located at 100 Konrad Adenauer Boulevard, L - 2950, Luxembourg - Kirchberg, Grand Duchy of Luxembourg, represented by Philippe Maistadt, President of the European Investment Bank (the "Bank"), on the other hand.
Considering Partnership and Cooperation Agreement between the European Communities and their member States, on the one hand, and the Republic of Kazakhstan, on the other hand, signed on January 23, 1995; Desiring, within the framework established by decisions of the Council of the European Union and/or the Bank's governing bodies, to ensure financing by providing loans, guarantees or other instruments for investment projects of interest to Kazakhstan, and to this end to provide such projects with certain protection, as well as to guarantee certain rights and privileges for the Bank, agreed as follows:
Article 1. Definitions
For the purposes of this Agreement: "Beneficiary" (or collectively "Beneficiaries") means any person, whether it is the State of Kazakhstan, an individual, or a subject of private or international law, who benefits from financing through a loan, guarantee or other instruments provided by the Bank for any Project, including, but not limited to, the Bank's borrower, joint borrower, guarantor, the lender, guaranteed by the Bank and its borrower or the owner of the Project; "Project" means any investment project financed directly by the Bank or through an intermediary, or a project benefiting from a loan guaranteed by the Bank and meeting the following criteria: (i) The Project is located in the territory or its financing by the Bank is carried out in or through the territory of Kazakhstan and (ii) the Government of Kazakhstan submits a request for its financing or confirms that such financing is subject to this Agreement, At the same time, the Bank agrees to start financing after the entry into force of this Agreement or if there is a clear expectation of signing or entry into force of this Agreement; "Tax" means any taxes, fees, duties, taxes or any fiscal deductions, direct or indirect, levied at the state, regional or local level.
Article 2. Activities of the Bank
In accordance with this Agreement, the Bank may freely carry out within the territory of Kazakhstan the types of activities provided for by the Bank's Charter as of the date of signing the Agreement, including, but not limited to, the provision of loans and/or guarantees to finance the Project, borrowing funds in accordance with the legislation of Kazakhstan using all permitted instruments, as well as storage, use and the disposal of these funds and the management of accounts in any currency. In particular, based on its assessment of the Project, the Bank can independently decide on the provision/non-provision of financing, as well as on the terms of its provision.
Article 3. Taxation of the Bank
Remuneration and all other payments due to the Bank and related to the activities provided for in this Agreement, as well as the assets and income of the Bank related to such activities, must be exempt from tax. No activities of the Bank in Kazakhstan related to any of the conditions set forth in this Agreement should result in taxation of the Bank or its assets.
Article 4. Currency convertibility and money transfer
Throughout the duration of any financial transaction covered by Article 2 of this Agreement, Kazakhstan ensures that: (a) (i) Beneficiaries may convert into any freely convertible currency at the market exchange rate at the date of conversion the amounts in the national currency of Kazakhstan necessary for the timely payment of all loans, guarantees and any contributions to the capital of enterprises related to any Project due to the Bank; (ii) such amounts may be transferred without hindrance, immediately and effectively outside the territory of Kazakhstan, so that the Beneficiaries can fulfill their obligations to the Bank in accordance with the terms of the applicable contractual or other instrument.; (b) (i) The Bank has the ability to convert into any freely convertible currency at the market exchange rate at the date of conversion the amounts in the national currency of Kazakhstan received by the Bank as payments on loans, guarantees and deposits or as a result of any other activities, and that the Bank can freely, immediately and effectively transfer the convertible amounts in such manner transfer funds outside the territory of Kazakhstan to bank accounts independently selected by the Bank or at the Bank's choice, (ii) that the Bank may freely dispose of such funds on the territory of Kazakhstan; (c) The Bank has the opportunity to convert any amounts in any freely convertible currency into the national currency of Kazakhstan at the current market exchange rate on the date of conversion.
Article 5. The regime applied to Projects
Kazakhstan, within the limits of its rights and powers, ensures the application of a non-discriminatory regime in relation to tax, customs and other issues related to Projects, as well as contracts concluded for their implementation, and also ensures the application of a regime no less favorable than that applicable to comparable projects or contracts financed and/or guaranteed by others. international financial institutions. Kazakhstan provides for each Project full and permanent protection and guarantees against expropriation and disputes to the extent necessary to preserve the ability of the Project to generate revenue in order to service the debt incurred in connection with the Project.
Article 6. Public tenders
The Bank may provide its Project financing on the condition that the procedures for participation in tenders and other tender procedures for concluding contracts comply with the Bank's current rules and procedures.
Article 7. Status and regime of the Bank
The Bank fully enjoys the status of a legal entity in Kazakhstan, including, in particular, the right to conclude contracts, acquire and dispose of movable and immovable property, as well as to act as a party to legal proceedings. With respect to its activities carried out on the territory of Kazakhstan, the Bank enjoys a regime no less favorable than the general regime provided for any such activity, or the regime provided by any comparable international agreement for such activities, if such a regime is more favorable. In particular, the Bank must have unhindered access to the national financial market of Kazakhstan in accordance with the legislation of Kazakhstan in force on the date of signing this Agreement, and its bonds, securities and other comparable financial instruments enjoy a regime, including tax, which is no less favorable than the regime for comparable financial instruments of other international financial institutions..
Article 8. Privileges and immunities of the Bank
(1) The Bank's assets must be released: (a) from searches and any form of expropriation; (b) from any penalties, measures of influence or seizure until a final, non-appealable, judicial decision against the Bank is rendered by a competent court. (2) Representatives of the Bank, while carrying out activities related to this Agreement or its implementation, must enjoy at least the following immunities and privileges: (a) immunity from judicial or administrative prosecution in connection with actions performed within the framework of official duties, except in cases where the Bank waives such immunity; (b) diplomatic privileges and facilities provided by Kazakhstan for official negotiations, forwarding of documents and business trips. Paragraph 2 of Article 8 does not apply to representatives of the Bank who are citizens of Kazakhstan. This immunity does not apply to liability in connection with bodily injury or death caused by actions on the part of an official or employee of the Bank.
Article 9. Settlement of disputes concerning the Bank's activities
In the event of any dispute between the Bank and the Beneficiary or any third party on matters related to the Bank's activities provided for in this Agreement, Kazakhstan undertakes, within the limits established by the applicable international treaty on the recognition and enforcement of judicial and arbitral awards in civil cases to which Kazakhstan is a party: (i) to ensure that the courts of Kazakhstan have the authority to recognize the final decision on the judicial process, duly rendered by a court or judicial body of the relevant jurisdiction, including the Court of Justice of the European Communities, or any national court of an EU Member State, or any arbitral tribunal; and (ii) enforce any such award in accordance with applicable national rules and procedures. In the event of any dispute between Kazakhstan and the Bank regarding the financing of a Project approved by Kazakhstan in accordance with Article 11 of this Agreement to which Kazakhstan is a party (by providing guarantees, co-financing or otherwise), Kazakhstan hereby does not object to the jurisdiction of such competent court or tribunal, including the Court of Justice of the European Communities.
Article 10. Subrogation
The rights granted to the Bank by this Agreement shall be enjoyed by (i) the Bank acting on its own behalf or, if the EU has made a payment to the Bank in accordance with guarantees or insurance contracts in connection with any loans, guarantees and other instruments covered by this Agreement, on behalf of the EU; (ii) depending on the circumstances, the EU itself, by virtue of the right to subrogation.
Article 11. Cooperation
Kazakhstan undertakes to respond in writing within 60 days to the Bank's request for confirmation that the Project financing proposal is subject to this Agreement. Kazakhstan and the Bank must promptly inform each other of any measures, or proposed measures, or any other circumstances that are likely to significantly affect the rights and interests of the other party under this Agreement.
Article 12. Dispute resolution
(1) Any disputes, disagreements, claims or claims (collectively referred to as "Dispute") arising out of the existence, operation, interpretation, application or termination of this Agreement should (as far as possible) be resolved by concluding a settlement agreement between Kazakhstan and the Bank. (2) If a dispute between Kazakhstan and the Bank cannot be resolved by an amicable agreement within 60 (sixty) days from the date of notification to either party of this Dispute, this Dispute must be settled through final and binding arbitration in accordance with the Rules of the Permanent Court of Arbitration for Voluntary Arbitration between International Organizations and States., effective as of the date of this Agreement. (3) The number of arbitrators must be three. The language of arbitration procedures must be English. The arbitration courts should be held in The Hague (Netherlands). The right to appoint arbitrators belongs to the Secretary General of the Permanent Court of Arbitration. (4) Unless otherwise agreed, all applications must be filed and all hearings must be completed within six months of the formation of the arbitration tribunal. The court must make its decision within 60 (sixty) days from the date of submission of the last documents. (5) Kazakhstan hereby does not object to the arbitration proceedings and the decision rendered by the arbitral tribunal in respect of any Dispute.
Article 13. Entry into force
This Agreement will enter into force the day after the Bank confirms receipt from the Government of Kazakhstan of a certified copy of the instrument of ratification or other instrument drawn up by mutual agreement between Kazakhstan and the Bank, as well as a legal opinion acceptable to the Bank regarding the validity of this Agreement.
Article 14. Term of validity
This Agreement is concluded for an unlimited period of time. The Bank may send a written notification to Kazakhstan on the termination of this Agreement within 6 months or the release of Kazakhstan from all or any of Kazakhstan's obligations under this Agreement. Unless otherwise indicated, the transmission of such notification does not affect the rights and interests acquired by the Bank in relation to Projects and financial transactions that remained incomplete as of the date of sending such notification. Kazakhstan may send a written notice to the Bank on termination of this Agreement 6 months in advance. The transmission of such notification does not affect the rights and interests acquired by the Bank in relation to Projects and financial transactions that remained incomplete on the effective date of such notification in Kazakhstan.
Article 15. Disclosure of information
Kazakhstan recognizes that disclosure and provision to Beneficiaries of information on loans, guarantees and other instruments provided in support of Projects in accordance with this Agreement is permitted and will not violate the applicable rules or regulations of any competent governing body.
Article 16. Address for sending messages
The Parties agree that any communications arising during the application of this Agreement may be directed to their addresses set out below.: Kazakhstan: 010000, Kazakhstan, Astana, Orynbor str., 8, Ministry of Economic Development and Trade of the Republic of Kazakhstan; Bank: Konrad Adenauer Boulevard, 100, L - 2950, Luxembourg.
In witness whereof, the undersigned, being duly authorized thereto, have signed this Agreement in two original copies in the Kazakh language, three original copies in English and two original copies in Russian, having equal legal force, each page of which is stamped by the undersigned or their representatives. In case of discrepancies, English takes precedence.
Signed in the interests and on behalf of:
OF THE REPUBLIC OF KAZAKHSTAN OF THE EUROPEAN INVESTMENT BANK
The RCPI's note. The following is the text of the Agreement in English.
President
Republic of Kazakhstan
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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