On the ratification of the Loan Agreement between Creditanstalt fur Wiederaufbau ("KfW"), Frankfurt am Main, and the Republic of Kazakhstan (the "Borrower"), submitted by the Ministry of Finance, in the amount of 27000000 German marks - A Credit Line to promote small and medium-sized enterprises
Law of the Republic of Kazakhstan dated July 26, 1999 No. 461
To ratify the Loan Agreement between Kreditanstalt fur Wiederaufbau ("KfW"), Frankfurt am Main, and the Republic of Kazakhstan (the "Borrower"), submitted by the Ministry of Finance, in the amount of 27,000,000 Deutsche marks, a Credit Line to Promote Small and Medium-sized Enterprises, concluded in Astana on December 30, 1998.
President of the Republic of Kazakhstan
Loan Agreement dated December 30, 1998 between Creditanstalt fur Wiederaufbau, Frankfurt am Main, ("KfW") and the Republic of Kazakhstan ("the Recipient"), represented by the Ministry of Finance, in the amount of nm 27,000,000 - A Credit line to assist SMEs
Based on the agreements dated May 22, 1995 and November 26, 1997 between the Government of the Federal Republic of Germany and the Government of the Republic of Kazakhstan on Intergovernmental Financial Cooperation ("Intergovernmental Agreements") The Borrower and the CfB conclude the following Loan Agreement: On the basis of this Loan Agreement with Alfa Merchant, Wpc, Kazkommertsbank and another designated development bank ("Development Banks") and KfW conclude an Agreement about the financing of the project, which defines the details of the project.
Article 1 Amount and purposes of use
1.1 The CfB provides the Recipient with a loan in the amount of up to nm 27,000,000- in tranche I in the amount of nm 12,000,000- and in tranche II in the amount of nm 15,000,000-
1.2 The recipient transfers the loan amount in full to the Development Banks on the terms specified in Article 2. As part of their primary use, Development banks provide loans exclusively for refinancing loans ("loans to borrowers") provided by them to finance investments by private small and medium-sized enterprises ("projects"). In the case of initial use, at least half of the loan funds are used to finance the foreign currency part of expenses, in addition to this, it is possible to finance expenses in the national currency. 1.3 Taxes and other public charges paid to the recipient, as well as import customs duties, should not be financed by loans granted to him.
Article 2 Transfer of loans to development banks
2.1 The recipient, on the basis of a special loan agreement, transfers the loan to Development Banks on terms of 5% per annum, with a repayment period of 10 years, starting from the date of entry into force of this Agreement, with a grace period of 3 years. 2.2 If the interest paid by Development Banks in accordance with the Article 2.1 If the interest paid to the Borrower in accordance with Article 4.2 exceeds the interest (the so-called "equivalent funds", i.e. funds equivalent to the percentage difference), then the Borrower directs these funds to a special account. Equivalent funds are transferred to the Borrower on the basis of an agreement concluded before the expiration of one year after the first repayment of the loan between the Borrower and the CfB and are used to finance projects that deserve special assistance from the point of view of development policy. 2.3 Prior to making the first payment of the loan funds, the Borrower shall provide the CfB with a copy of the Loan Agreements stipulated in Article 2.1, for which it is necessary to obtain the consent of the CfB. Changes to the loan agreements between the Borrower and the development banks require the approval of the CfB. 2.4 The transfer of the loan to the Development Banks does not mean that the Development Banks are liable to the CfB for payment obligations arising from this Agreement.
Article 3 Payment
3.1 The KfW pays out funds in accordance with the progress of projects to attract Development Banks. Within the framework of Special Agreements, the Development Banks and the CfB determine the procedure for making payments and, in particular, the procedure for reporting on the intended use of the funds paid according to the agreement. 3.2 Starting from December 30, 2002, the KfW has the right to refuse payment of funds.
Article 4 Loan acceptance fees, interest rate, and refund
4.1 The borrower pays a commission for agreeing to provide a loan in the amount of 1/4% per annum of the outstanding loan funds. These fees are calculated for the period starting 3 months after signing the Contract and ending on the day of debit of payments. 4.2 The borrower pays 2.0% per annum for tranche I of the loan and 0.75% per annum for tranche II. Interest is calculated from the date of debit on payments until the receipt of funds for repayment of the loan on the CfB account specified in Article 4.9. 4.3 The borrower pays the fees for agreeing to grant the loan, interest and possible fees for late payments in accordance with Article 4.5 twice a year, respectively, for the past six months, on June 30 and December 30. The loan acceptance fees are payable together with the first interest payment.
4.4 The borrower returns the funds according to the following scheme:
Tranche I Tranche II Total
June 30, 2009 NM 300,000,00 250,000,00 550.000,00
December 30, 2009 NM 300,000,00 250,000,00 550.000,00
June 30, 2010 NM 300,000,00 250,000,00 550.000,00
December 30, 2010 NM 300,000,00 250,000,00 550.000,00
June 30, 2011 NM 300,000,00 250,000,00 550.000,00
December 30, 2011 NM 300,000,00 250,000,00 550.000,00
June 30, 2012 NM 300,000,00 250,000,00 550.000,00
December 30, 2012 NM 300,000,00 250,000,00 550.000,00
June 30, 2013 NM 300,000,00 250,000,00 550.000,00
December 30, 2013 NM 300,000,00 250,000,00 550.000,00
June 30, 2014 NM 300,000,00 250,000,00 550.000,00
December 30, 2014 NM 300,000,00 250,000,00 550.000,00
June 30, 2015 NM 300,000,00 250,000,00 550.000,00
December 30, 2015 NM 300,000,00 250,000,00 550.000,00
June 30, 2016 NM 300,000,00 250,000,00 550.000,00
December 30, 2016 NM 300,000,00 250,000,00 550.000,00
June 30, 2017 NM 300,000,00 250,000,00 550.000,00
December 30, 2017 NM 300,000,00 250,000,00 550.000,00
June 30, 2018 NM 300,000,00 250,000,00 550.000,00
December 30, 2018 NM 300,000,00 250,000,00 550.000,00
June 30, 2019 NM 300,000,00 250,000,00 550.000,00
December 30, 2019 NM 300,000,00 250,000,00 550.000,00
June 30, 2020 NM 300,000,00 250,000,00 550.000,00
December 30, 2020 NM 300,000,00 250,000,00 550.000,00
June 30, 2021 NM 300,000,00 250,000,00 550.000,00
December 30, 2021 NM 300,000,00 250,000,00 550.000,00
June 30, 2022 NM 300,000,00 250,000,00 550.000,00
December 30, 2022 NM 300,000,00 250,000,00 550.000,00
June 30, 2023 NM 300,000,00 250,000,00 550.000,00
December 30, 2023 NM 300,000,00 250,000,00 550.000,00
June 30, 2024 NM 300,000,00 250,000,00 550.000,00
December 30, 2024 NM 300,000,00 250,000,00 550.000,00
June 30, 2025 NM 300,000,00 250,000,00 550.000,00
December 30, 2025 NM 300,000,00 250,000,00 550.000,00
June 30, 2026 NM 300,000,00 250,000,00 550.000,00
December 30, 2026 NM 300,000,00 250,000,00 550.000,00
June 30, 2027 NM 300,000,00 250,000,00 550.000,00
December 30, 2027 NM 300,000,00 250,000,00 550.000,00
June 30, 2028 NM 300,000,00 250,000,00 550.000,00
December 30, 2028 NM 300,000,00 250,000,00 550.000,00
Transfer: NM 12.000.000,00 10.000.000,00 22.000.000,00
June 30, 2029 NM - 250.000,00 250.000,00
December 30, 2029 NM - 250.000,00 250.000,00
June 30, 2030 NM - 250.000,00 250.000,00
December 30, 2030 NM - 250.000,00 250.000,00
June 30, 2031 NM - 250.000,00 250.000,00
December 30, 2031 NM - 250.000,00 250.000,00
June 30, 2032 NM - 250.000,00 250.000,00
December 30, 2032 NM - 250.000,00 250.000,00
June 30, 2033 NM - 250.000,00 250.000,00
December 30, 2033 NM - 250.000,00 250.000,00
June 30, 2034 NM - 250.000,00 250.000,00
December 30, 2034 NM - 250.000,00 250.000,00
June 30, 2035 NM - 250.000,00 250.000,00
December 30, 2035 NM - 250.000,00 250.000,00
June 30, 2036 NM - 250.000,00 250.000,00
December 30, 2036 NM - 250.000,00 250.000,00
June 30, 2037 NM - 250.000,00 250.000,00
December 30, 2037 NM - 250.000,00 250.000,00
June 30, 2038 NM - 250.000,00 250.000,00
December 30, 2038 NM - 250.000,00 250.000,00
June 30, 2015 NM 300,000,00 250,000,00 550.000,00
December 30, 2015 NM 300,000,00 250,000,00 550.000,00
June 30, 2016 NM 300,000,00 250,000,00 550.000,00
December 30, 2016 NM 300,000,00 250,000,00 550.000,00
June 30, 2017 NM 300,000,00 250,000,00 550.000,00
December 30, 2017 NM 300,000,00 250,000,00 550.000,00
June 30, 2018 NM 300,000,00 250,000,00 550.000,00
December 30, 2018 NM 300,000,00 250,000,00 550.000,00
June 30, 2019 NM 300,000,00 250,000,00 550.000,00
December 30, 2019 NM 300,000,00 250,000,00 550.000,00
June 30, 2020 NM 300,000,00 250,000,00 550.000,00
December 30, 2020 NM 300,000,00 250,000,00 550.000,00
June 30, 2021 NM 300,000,00 250,000,00 550.000,00
December 30, 2021 NM 300,000,00 250,000,00 550.000,00
June 30, 2022 NM 300,000,00 250,000,00 550.000,00
December 30, 2022 NM 300,000,00 250,000,00 550.000,00
June 30, 2023 NM 300,000,00 250,000,00 550.000,00
December 30, 2023 NM 300,000,00 250,000,00 550.000,00
June 30, 2024 NM 300,000,00 250,000,00 550.000,00
December 30, 2024 NM 300,000,00 250,000,00 550.000,00
June 30, 2025 NM 300,000,00 250,000,00 550.000,00
December 30, 2025 NM 300,000,00 250,000,00 550.000,00
June 30, 2026 NM 300,000,00 250,000,00 550.000,00
December 30, 2026 NM 300,000,00 250,000,00 550.000,00
June 30, 2027 NM 300,000,00 250,000,00 550.000,00
December 30, 2027 NM 300,000,00 250,000,00 550.000,00
June 30, 2028 NM 300,000,00 250,000,00 550.000,00
December 30, 2028 NM 300,000,00 250,000,00 550.000,00
Transfer: NM 12.000.000,00 10.000.000,00 22.000.000,00
June 30, 2029 NM - 250.000,00 250.000,00
December 30, 2029 NM - 250.000,00 250.000,00
June 30, 2030 NM - 250.000,00 250.000,00
December 30, 2030 NM - 250.000,00 250.000,00
June 30, 2031 NM - 250.000,00 250.000,00
December 30, 2031 NM - 250.000,00 250.000,00
June 30, 2032 NM - 250.000,00 250.000,00
December 30, 2032 NM - 250.000,00 250.000,00
June 30, 2033 NM - 250.000,00 250.000,00
December 30, 2033 NM - 250.000,00 250.000,00
June 30, 2034 NM - 250.000,00 250.000,00
December 30, 2034 NM - 250.000,00 250.000,00
June 30, 2035 NM - 250.000,00 250.000,00
December 30, 2035 NM - 250.000,00 250.000,00
June 30, 2036 NM - 250.000,00 250.000,00
December 30, 2036 NM - 250.000,00 250.000,00
June 30, 2037 NM - 250.000,00 250.000,00
December 30, 2037 NM - 250.000,00 250.000,00
June 30, 2038 NM - 250.000,00 250.000,00
December 30, 2038 NM - 250.000,00 250.000,00
12.000.000,00 15.000.000,00 27.000.000,00
In case of late receipt of debt repayment contributions, the CFB may increase the interest rate on overdue amounts, starting from the due date until the time of entry into the loan specified in the article. 4.9 CfB account at a basic interest rate with a surcharge of 3% per annum. The "Base interest rate" is the initial interest rate announced by the Deutsche Bundesbank (Federal Bank of Germany), in the amount effective on the day of the relevant due date. In case of late payment of interest, the CfB may claim compensation for losses caused to it by late payment. This refund should not exceed the amount received from the taxation of late interest payments at the Deutsche Bundesbank base rate effective on the day of the expiration of the payment period with a surcharge of 3% per annum. 4.6 In accordance with Article 4.5, the year is calculated for 360 days and the month for 30 days to determine the fees for agreeing to grant a loan, interest and possible additional fees for delinquency. 4.7 Unpaid or early refunded amounts are distributed evenly among all unpaid contributions, unless in some cases - especially due to the insignificance of the corresponding amounts - another method of recalculation is applied at the discretion of the CfB. 4.8 KfW may credit incoming payments to the payments due under this Agreement or under other loan agreements between KfW and the Borrower. 4.9 The borrower transfers all payments in the currency of the Federal Republic of Germany, except for the offset of mutual claims, to the account 25.3949.1811 at Creditanstalt fur Wiederaufbau, Frankfurt am Main (code 500 204 00, S.W.I.F.T.: CFWIDEFF).
Article 5 Suspension of payments and early refund
5.1 The Borrower may at any time: a) provided that he has fulfilled his obligations under Article 8, to refuse to pay the loan funds that have not yet been claimed; and b) to repay the loan funds in full or in part ahead of schedule. 5.2 The CfB may suspend payments only: a) in the event that the Borrower does not fulfill its payment obligations to the CfB on time, b) in the event that obligations arising from this Agreement or from Special Agreements based on this Agreement are violated, c) in the event that one of the development banks is unable to provide evidence of the intended use loan funds, or d) upon the occurrence of extraordinary circumstances that exclude or pose a significant threat to the implementation of, the operation or purpose of the project or the fulfillment of payment obligations that the Borrower assumed under this Agreement. 5.3 In the event of the occurrence of one of the circumstances referred to in Article 5.2 (a), (b) or (c), which has not been eliminated within the time limit set by the CfB, and the time limits set should not be less than 30 days, the CfB may: a) in the case of circumstances under Article 5.2 (a) or 5.2 (b), demand the immediate repayment of all amounts paid, as well as all accrued interest and other additional claims; b) in the case of Article 5.2 (c), demand the immediate repayment of those loan amounts for the intended use of which the development banks are unable to provide evidence.
Article 6 Expenses and public fees
6.1 The Borrower shall make all payments under this Agreement without deduction of taxes, other government fees or other costs and shall bear the transfer and transfer costs incurred upon payment of the loan. 6.2 All taxes and other government charges arising in connection with the conclusion and implementation of this Agreement outside the territory of the Federal Republic of Germany shall be borne by the Borrower.
Article 7 Agreement compliance with legislation and representation
7.1 In due time before the first payment, the Borrower submits to the CfB, at his discretion, certificates of compliance with all the requirements of his constitutional right and other legal norms that are a condition for fulfilling all his obligations under this Agreement. 7.2 In connection with the implementation of this Agreement, the representatives of the Borrower are the Minister of Finance of the Republic of Kazakhstan and the persons named by him by the CfB, approved by the samples of signatures certified by him. The right to represent expires only at the moment when the CfB receives an unambiguous response from the relevant competent representative. 7.3 Amendments or additions to this Agreement, as well as other statements or statements of the Contracting Parties made on the basis of this Agreement, must be made in writing. Statements or statements are considered to have been received at the time of receipt at the address indicated below or at another address named by the Contractual partner:
KfW: Creditanstalt fur Wiederaufbau a/z 11 11 41 60046 Frankfurt am Main Fax: (069)7431 - 2944 Telex: 4 15 25 60 kw d The borrower: Republic of Kazakhstan Ministry of Finance Committee on External Loans 93/95 Ablay Khan Ave. Almaty 480091/Kazakhstan Fax: 007-3272-696152
7.4 Amendments to this Agreement, which affect only the legal relationship between the CfB and the Borrower, do not need the consent of the development banks. 7.5 The Borrower and the CfB jointly define the third development bank.
Article 8 Implementation of the Loan Agreement
8.1 The Borrower shall immediately and on his own initiative inform the CfB of all circumstances that exclude or significantly jeopardize the implementation, operation or purpose of the Loan Agreement or Project Financing Agreement. 8.2 In connection with the implementation of the Project Financing Agreement and with the fulfillment of their obligations under this Agreement, the Borrower provides support to each development bank, in particular, it provides it with all necessary permits for the implementation of the Loan Agreement and Project Financing.
Article 9 Other conditions
9.1 In connection with the introduction of the euro as the official means of payment of the Federal Republic of Germany, in accordance with the laws and regulations on the establishment of the European Economic and Monetary Union, the following provision applies: starting from January 01, 2002, all references to the German mark (nm) and to the official means of payment of the Federal Republic of Germany are references to the euro at the official exchange rate. This means that all payments made after the above date must be made in euros. During the transition period from January 01, 1999 to December 31, 2001 Payments made under this Agreement may be made in euros or in German marks. 9.2 If one of the provisions of this Agreement turns out to be invalid, this does not apply to all other provisions of this Agreement. The gap that has arisen in this regard must be filled in with a provision consistent with the objectives of this Agreement. 9.3 The Borrower is not entitled to assign or pledge the claims arising from this Agreement. 9.4 This Agreement is subject to the current legislation of the Federal Republic of Germany. The place of execution is Frankfurt am Main. In disputed cases, the German text is the basis for the interpretation of this Agreement. 9.5 If the parties fail to reach an agreement through negotiations, all disputes arising from this Agreement and all disputes regarding the validity of this Agreement and the Dispute Arbitration Agreement shall be considered by the arbitration court in accordance with The Agreement on Arbitration of disputes, which is an essential part of this Agreement. 9.6 This Loan Agreement shall enter into force only after the Intergovernmental Agreement of November 26, 1997 enters into force. It is compiled in four originals, two each in German and Russian.
Frankfurt am Main, Almaty, December 30, 1998 December 24, 1998
Creditanstalt fur Republic of Kazakhstan Wiederaufbau
Agreement on Arbitration of Disputes referring to Article 9.5 of the Loan Agreement between Creditanstalt fur Wiederaufbau, Frankfurt am Main, ("KfW") and the Republic of Kazakhstan (the "Lender"), submitted by the Ministry of Finance on December 30, 1998 - A credit line to assist SMEs -
The CfB and the Borrower agree on the following
Article 1 If the parties are unable to settle disputes through negotiations, the arbitral tribunal shall definitively and exclusively resolve all disputes arising from the Loan Agreement, as well as all disputes concerning the validity of the Loan Agreement and the Dispute Arbitration Agreement.
Article 2 The parties to the arbitration proceedings are the Borrower and the CfB.
Article 3 3.1 The Arbitral tribunal shall consist of three members, who shall be appointed as follows: one of the arbitrators shall be appointed by one of the Loan Recipients, or, if the latter is not involved or is not yet involved in the proceedings, by the development banks; The second arbitrator is appointed by the CfB, the third ("super arbiter") - by agreement of the parties or, if the parties have not reached an agreement within 60 days after the receipt of the claim by the defendant, at the request of one of the parties, the President of the International Chamber of Commerce, or, in the order of the deputy, the Chairman of the Swiss Group of the International Chamber of Commerce. If one of the parties does not appoint an arbitrator, the appointment is carried out by the super arbiter. 3.2 If one of the arbitrators appointed under the above rules is unwilling/unable, or no longer willing/able to perform his/her functions, then his/her successor is appointed in the same manner as the previous arbitrator. The successor has the same rights and duties as the original arbitrator.
Article 4 4.1 Arbitration proceedings arise on the basis of one party's presentation of a statement of claim to the other party. The statement of claim shall specify the type of claim, the type of desired elimination of deficiencies or compensation, as well as the name of the arbitrator appointed by the plaintiff, if he has the right to appoint an arbitrator in accordance with article 3.1. 4.2 The respondent, within 30 days after receiving the statement of claim, shall inform the plaintiff of the name of the arbitrator appointed by him, if, in accordance with Article 3.1 has the right to appoint an arbitrator.
Article 5 of the Super Arbiter determines the date of the arbitration court session. If the parties themselves have not determined the place of arbitration by agreement, then the place is also determined by the super arbiter.
Article 6 The arbitral tribunal shall determine its competence independently. The court independently determines the procedure for its work, taking into account the generally accepted principles of the arbitration court. In any case, the parties are given the opportunity to present their views orally at the next meeting. The arbitral tribunal may also make a decision if one of the parties fails to appear. All decisions of the arbitration court must be approved by at least two arbitrators.
Article 7 The decision of the arbitral tribunal shall be determined and justified in writing. A court decision signed by at least two arbitrators is considered a decision of the arbitration court. Each party is given a signed copy of the arbitration court's decision. The court's decision is binding and final. By signing this Agreement, the parties undertake to comply with the decision of the arbitration court.
Article 8 8.1 The Parties shall determine the remuneration of the arbitrators and the persons whose participation is necessary in the conduct of the arbitration proceedings. 8.2 If the parties are unable to agree on the amount of remuneration before the first court session, the arbitral tribunal shall determine a proportionate amount. Each of the parties shall bear the costs incurred by it in connection with the arbitration proceedings. The costs of paying for the arbitration court are at the expense of the party who lost the case. If each of the parties partially wins, partially loses, then the costs are proportionally divided. 8.3 The Arbitral tribunal shall make the final decision on all costs. 8.4 The Parties are jointly and severally responsible for the remuneration of the persons named in Article 8.1.
Article 9
The communications and statements of the parties and the arbitral tribunal related to the arbitration proceedings must be made in writing. Applications and messages are considered delivered at the time of their receipt to the address indicated below or otherwise communicated to the Contractual partner:
KfW: Creditanstalt fur Wiederaufbau a/z 11 11 41 60 046 Frankfurt am Main Fax: (069) 7431-2944 Telex: 4 15 25 60 kw d
Recipient Republic of Kazakhstan Ministry of Finance Committee on External Loans 93/95 Ablay Khan Ave. Almaty 480091/Kazakhstan Fax: 007-3272-696152
The agreement is drawn up in four originals, two each in German and in Russian.
Frankfurt am Main, Almaty, December 30, 1998 December 24, 1998
Creditanstalt fur Republic of Kazakhstan Wiederaufbau
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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