Loan Agreement

OyinA NUMWER 2163 B& Loan Agreement (Amazonas Agricultural Development Project) between FEDERATIVE REPUBLIC OF MAZIL and INTERNATIONAL BANK FOR RECONSTRUCTION AND IZVELOPMEMT Dated JA5 1982 LOAN NUMBER 2163 BR LOAN AREENT AGREEMENT, dated JA . 2- , 1982, betiween FEDERATIVE REPUBLIC OF BRAZIL (hereinafter called the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (hereinafter called the Bank). WHEREAS (A) the Borrower has requested the Bank to assist in the financing of the Project described in Schedule 2 to this Agreement by making the Loan as hereinafter provided; (B) the Project will be carried out by the State of Amazonas with the Borrower's assistance and, as part of such assistance, the Borrower will make available to the State of Amazonas the proceeds of the Loan as hereinafter provided; and WHEREAS the Bank has agreed, on the basis inter alia of the foregoing, to make the Loan available to the Borrower upon the terms and conditions set forth hereinafter and in the Project Agreement of even date herewith between the Bank and the State of Amazonas; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section 1.01. The parties to this Agreement accept all the provisions of the General Conditions Applicable to Loan and Guarantee Agreements of the Bank, dated October 27, 1980, with the same force and effect as if they were fully set forth herein (said General Conditions Applicable to Loan and Guarantee Agreements of the Bank being hereinafter called the General Conditions). Section 1.02. Wherever used in this Agreement, 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) "Project Agreement" means the agreement between the Bank and the State of Amazonas of even date herewith, as the same may be amended from time to time, and such term includes all -2- schedules to the Project Agreement and all agreiments supplemental to the Project Agreement. (b) "Project Area" means an area of about 16,000 square kilometers including part of the territories of the municipalities of Tefe, Careiro, Manacapuru, Urucara, Barreirinha and Parintins. (c) "State" means the State of Amazonas. (d) "Special Account" means the account referred to in Sections 2.02 (b) of this Agreement and "Account Bank" means the Banco Central do Brasil. (e) "cruzeiro" means the currency of the Borrower. (f) "Executing Entities" means the entities listed in Schedule 2 to the Project Agreement. (g) "CEASA-AM" means the Centrais de Abastecimento de Amazonas, S.A., the Central Marketing Organization of Amazonas. (h) "CEPA-AM" means the Comissao Estadual de Planejamento Agricola de Amazonas, the State's Commission for Agricultural Planning. (i) "CNPSD" means the Centro Nacional de Pesquisas da Seringueira e Dende, the National Center for Rubber and Oil Palm Research, part of EMBRAPA. (j) "CODEAGRO" means the Companhia de Desenvolvimento Agropecuario, the State Agricultural Development Company. (k) "CODEAMA" means the Centro de Desenvolvimento, Pesquisa e Tecnologia, the State's Center for Study, Research and Develop- ment. (1) "COSAMA" means the Companhia de Saneamento do Amazonas, the State's Water Supply Company. (m) "DER-AM" means the Departamento de Estradas de Rodagem de Amazonas, the State's Highway Department. (n) "EMADE" means the Empresa Amazonense de Dende, the Amazonas Oil Palm Company. -3- (o) "EMATER-AM" means the Empresa de Assistencia Tecnica e Extensao Rural do Estado de Amazonas, the State's Rural Extension Company. (p) "EMBRAPA" means the Empresa Brasileira de Pesquisa Agropecuaria, the Federal Company for Agricultural Research. (q) "FSESP" means Fundaqao de Servigo Especial de Saude Publica, the Foundation for Special Public Health Services. (r) "IBDF" means Instituto Brasileiro de Desenvolvimento Florestal, the Brazilian Institute for Forestry Development. (s) "INCRA" means the Instituto Nacional de Colonizacao e Reforma Agraria, the Federal Institute for Colonization and Agrarian Reform. (t) "INPA" means the Instituto Nacional de Pesquisas da Amazonia, the National Institute for Amazon Research. (u) "ITERAM" means the Instituto de Terras do Estado de Amazonas, the State's Land Institute. (v) "SEDUC" means the Secretaria de Educacao e Cultura do Estado de Amazonas, the State Secretariat for Education and Culture. (w) "SEMA" means the Secretaria Especial do Meio Ambiente do Ministerio do Interior, the Special Secretariat for the Environment of the Ministry of the Interior. (x) SEPLAN-AM" means the Secretaria de Planejamento do Estado de Amazonas, the State's Secretariat of Planning. (y) "SEPROR" means the Secretaria de Producao Rural do Estado de Amazonas, the State's Secretariat of Rural Production. (z) "SESAU" means the Secretaria de Saude do Estado de Amazonas, the State's Secretariat for Health. (aa) "SETRAN" means the Secretaria de Transportes do Estado de Amazonas, the State's Secretariat for Transport. (bb) "UEPAE-AM" means 'Tnidade Estadual de Pesquisas Agropecuarias no Estado de Amazonas, the Agricultural Research Unit in the State, part of EMBRAPA. -4- to (cc) "Community Development Fund" means the fund referred in paragraph (k) of Section 2.01 of the Project Agreement. of (dd) "TELEAMAZON" means the telecommunications company the State. ARTICLE II The Loan on Section 2.01. The Bank agrees to lend to the Borrower, or the terms and conditions in the I an Agreement set forth tc referred to, an amount in various currencies equivalent twenty-six million fcur hundred thousand dollars ($26,400,UOO). Section 2.02. (a) The amount of the Loan may be withdrawn of from the Loan Account in accordance with the provisions amended Schedule 1 to this Agreement, as such Schedule may be from time to time by agreement between the Borrower and the Bank, to be for expenditures made (or, if the Bank shall so agree, services made) in respect of the reasonable cost of goods and Agree- required for the Project described in Schedule 2 to this ment and to be financed out of the proceeds of the Loan. (b) The Borrower shall cause to be opened and thereafter maintained a Special Account in the Account Bank on terms and conditions satisfactory to the Bank. Payments out of the Special Account shall be made exclusively to pay the reasonable cost of be goods and services required to carry out the Project and to the financed by the Bank under this Agreement in accordance with provisions of this Section and Schedule 1 hereto. (c) The Bank may, after the Effective Date and at the request of the Borrower, withdraw on behalf of the Borrower from in the Loan Account and deposit in the Special Account an amount dollars of up to $2,000,000. In the event that the amount of such initial deposit into the Special Account is less than $2,000,000, the Borrower may from time to time request th-_ Bank to withdraw from the Loan Account and make one or more additional initial deposits into the Special Account, but in no event shall the amount of such initial deposits exceed in the aggregate $2,000,000. At the request of the Borrower, the Bank shall further withdraw from the Loan Account and deposit in the Special Account such amounts as shall be required to replenish the Special Account with amounts equal to payments made out of the -5- Special Account for expenditures for the Project eligible for financing under this Agreement, but only to the extent that the amount of any such deposit, together with any amount remaining on deposit in the Special Account as of the date of such request, shall not exceed $2,000,000. Except as the Bank shall otherwise determine, each such deposit after the initial deposits shall be withdrawn by the Bank from the Loan Account under the same categories set forth in paragraph 1 of Schedule 1 to this Agree- ment, and in the same respective amounts, as have been justified by the documentation for the request for such deposit furnished pursuant to paragraph (e) of this Section. (d) Prior to or at the time of each request for a withdrawal by the Borrower from the Special Account, the Borrower shall furnish to the Account Bank in respect of each payment made by the Borrower an application for withdrawal from the Special Account on the basis of certificates of expenditures showing that the payment was made on account of the reasonable cost of goods or services required for the Project and to be financed out of the proceeds of the Loan in accordance with paragraph (a) above. The Account Bank shall authorize the Borrower to withdraw from the Special Account an amount in cruzeiros determined on the basis of the foregoing evidence, and shall debit the Special Account with the dollar equivalent of such amount in cruzeiros determined on the basis of the rate of exchange between the dollar and the cruzeiro in effect at the time each payment was made. (e) Prior to or at the time of each request for a deposit by the Bank into the Special Account, the Account Bank shall furnish to the Bank in respect of each withdrawal from the Special Account an application for withdrawal from the Loan Account on the basis of: (i) the certificate of expenditures referred to in paragraph (d) of this Section; and (ii) the estimated expenditures in respect of the payments to be made in the following calendar quarter for the reasonable cost of goods or services required for the Project and to be financed out of the proceeds of the Loan in accordance with paragraph (a) above. (f) If the Bank shall have determined that any payment out of the Special Account (i) was made for any expenditure or in any amount not eligible for financing by withdrawal from the Loan Account, or (ii) was not justified by the certificates of expenditure furnished pursuant to paragraph (e) of this Section, the Borrower shall, promptly upon notice from the Bank and, -6- unless otherwise determined by the Bank, prior to any further deposit in the Special Account by the Bank, deposit in the Special Account an amount equal to the amount of such payment or the portion thereof not so eligible or justified.

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