Magyar közlöny, 2009. június (75-91. szám)

2009-06-03 / 75. szám

2009/75. szám MAGYAR KÖZLÖNY 17169 organisation of its Government - shall act as the borrower, the undertaking of the Ministry of Finance shall be deemed to be sovereign under this Agreement.) Contracting Parties express their willingness with respect to the participants of the credit transactions belonging to the present tied aid credit line and will confirm by declarations that pursuant to the provisions of the action statement of the OECD on „Bribery and officially supported export credits” they did not participate in any bribery in relation to the transactions and they are not aware of any corruption. Article 3 Amount of the tied aid credit line and its financial conditions The total value of the projects financed under the tied aid credit line is 8,6 M USD. The firm commitments arise on the basis of the individual credit agreements concluded between the Ministry of Finance of the Lao People’s Democratic Republic and Eximbank as stipulated in Article 7 of this Agreement. The concessionality level of credits payable under the tied aid credit line shall reach 50 per cent in accordance with the provision of the OECD Arrangement for „minimum concessionality level”. Tenor of the credits disbursed under the tied aid credit line shall not exceed 18 (eighteen) years, which includes maximum 8 (eight) years grace period starting form the starting point of credit as defined in the OECD Arrangement, and maximum 10 (ten) years repayment period of the credit. The disbursement period of credits disbursed under the tied aid credit line will be stipulated in the individual credit agreement depending on the particular projects. The disbursement period for the individual credits shall not exceed 3 (three) years. Relating to the credits disbursed under the tied aid credit line interest rates will be set on the basis of to the OECD Arrangement and will be stipulated in the individual credit agreements, which remain constant for the whole tenor of the credits. Relating to the credits disbursed under the tied aid credit line, risk premia stipulated in the individual credit agreements will be calculated in line with the OECD Arrangement, and will be officially supported and counted in as a grant part of the associated financing package. Article 4 % Utilisation of the tied aid credit line The tied aid credit line can be utilised for the realisation of projects not objected by signers of the OECD Arrangement during the procedure in conformity with the acceptance rules of the OECD Arrangement and the consultation procedure, respectively. Contracting Parties agree that the Government of the Lao People’s Democratic Republic will apply the tied aid credit line for projects specified in the Appendix I forming an integral part of this Agreement. The selected projects will be realised by Flungarian exporters which companies shall be registered in Hungary. The financed exports realised under the tied aid credit line may include the foreign content in cases if at least 50 per cent of the export realised by companies registered in Hungary qualifies as of Hungarian origin performed on the territory of the Lao People’s Democratic Republic. The Government of the Lao People’s Democratic Republic or the organisation appointed by it chooses companies registered in Hungary (further on: exporter) for realisation of the projects specified in the Appendix, in conformity with its legislation, acting in accordance with the Good Procurement Practice for ODA, and gives the Ministry for National Development and Economy information about its decisions. Article 5 Acceptance procedure The Contracting Parties, for acceptance of the projects financed under the credit line as per this Agreement, will follow the procedure below: a) The exporter and the buyer/importer elaborate the export contract on the realisation of the project. b) The Ministry of Finance of Lao People’s Democratic Republic approves the export contract concluded and gives a written notice about this to the Hungarian Eximbank. c) Eximbank confirms in writing the export contract approved by the Ministry of Finance of Lao People’s Democratic Republic. Article 6 Disbursement of the tied aid credit Detailed conditions of the tied aid credit provided to finance the project accepted by the Contracting Parties is to be stipulated in the individual credit agreement between the borrower authorised by the Government of the Lao People’s Democratic Republic in accordance with the provisions laid down in Article 7 on the one part and Eximbank as the lender on the other. Eximbank, for the account of its own resources, lends tied aid credit, up to the amount of credit line agreed in this Agreement, in the form of mixed credit to the borrower authorised by the Government of the Lao People’s Democratic Republic for the realisation of the accepted project. The measure of the financing is 100 per cent of the value of the accepted project and the amount of the grant element.

Next