AUTHENTICATION BY CLERK - 'Ikid Copy had been o&mpaded by me with the Pill which had been padded by PadUamenl and fpand by me te be a tdne copy ...
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REPUBLIC OF VANUATU
THE. LOAN. AG.REEMENT .BETWEEN. THE REPUBLIC. OF.VANUATU . AND. THE. ASIAN .DEVELOPMENT
BANK (RATIFICATION j ACT No . ’ 2 OF 1988
AUTHENTICATION BY CLERK
'Ikid Copy had been o&mpaded by me with the Pill which had been padded by
PadUamenl and fpand by me te be a tdne copy the Pill.
Signed: ..
CLERK TO PARLIAMENT
April 1988...
1 hedeby /Iddenl
Signed:
t^L April 1988
REPUBLIC OF VANUATU
THE LOAN AGREEMENT BETWEEN THE REPUBLIC OF VANUATU
AND THE ASIAN DEVELOPMENT BANK (RATIFICATION)
ACT No, Q OF 1988
Arrangement of Sections
1. Ratification.
2. Comine nee me n t.
SCHEDULE
REPUBLIC OF VANUATU
THE LOAN AGREEMENT BETWEEN THE REPUBLIC OF VANUATU
AND THE ASIAN DEVELOPMENT BANK (RATIFICATION)
ACT No. 2 OF 1988
To provide for the ratification of the Loan Agreement made between the
Republic of Vanuatu and the Asian Development Bank signed on the 19th day
of February, 1983.
BE IT ENACTED by the President and Parliament as foliows:-
RATIFICATION
1. (1) The Loan Agreement made between the Republic of Vanuatu and the
Asian Development Bank signed on the 19th day of February, 1988
which is set out in the Schedule hereto is hereby approved and
ratified.
(2) The Agreement referred to in subsection (1) shall be binding on
the Republic of Vanuatu in accordance with the terms thereof.
COMMENCEMENT
2. This Act shall come into force on the date of its publication in the
Gazette.LOAN NUMBER 843 VAN(SF)
LOAN AGREEMENT
(Special Operations)
(Santo Port Project)
between
REPUBLIC OF VANUATU
and
ASIAN DEVELOPMENT BANK
DATED 19 FEBRUARY 1988LOAN AGREEMENT
(Special Operations)
LOAN AGREEMENT dated 19 February 1988 between REPUBLIC
OF VANUATU (hereinafter called the Borrower) and ASIAN
DEVELOPMENT BANK (hereinafter called the Bank).
WHEREAS
(A) the Borrower has applied to the Bank for a loan
for the purposes of the Project described in Schedule 1 to this
Loan Agreement;
*
(B) the Borrower has also applied to the Bank for
technical assistance for the institutional strengthening of the
Public Works Department of the Ministry of Transport/ Tourism,
Public Works and Water Supply of the Borrower, and by an
agreement of even date herewith between the Government of the
Borrower and the Bank (hereinafter called the Technical
Assistance Agreement), the Bank has agreed to provide a
technical assistance grant for these purposes up to the
equivalent of three hundred twenty five thousand dollars
($325,000); and
(C) the Bank has agreed to make a loan to the
Borrower from the Bank's Special Funds resources upon the terms
and conditions hereinafter set forth;
NOW THEREFORE the parties hereto agree as follows:
ARTICLE I
Loan Regulations; Definitions
Section 1.01. All the provisions of the
Special Operations Loan Regulations of the Bank, dated
7 December 1982, are hereby made applicable to this Loan
Agreement with the same force and effect as if they were fully
set forth herein (said Special Operations Loan Regulations being
hereinafter called the Loan Regulations).2
Section 1.02. Wherever used in this Loan
Agreement, unless the context otherwise requires, the several
terms defined in the Loan Regulations have the respective
meanings therein set forth, and the following additional terms
have the following meanings:
(a) "mttpw" means the Ministry of Transport, Tourism,
Public Works and Water Supply of the Borrower, and includes any
successor thereto;
(b) "PMD” means the Ports and Marine Department of
MTTPW, and includes any successor thereto;
(c) "PWD" means the Public Works Department of MTTPW,
and includes any successor thereto;
F
(d) "Project Executing Agency” for the purposes of,
and within the meaning of, the Loan Regulations means PHD, which
is responsible for the carrying out of the Project; and
(e) "Project facilities" means the facilities
provided or to be provided under the Project.
ARTICLE II
The Loan
Section 2.01. The Bank agrees to lend to
the Borrower from the Bank's Special Funds resources an amount
in various currencies equivalent to four million four hundred
fifty thousand Special Drawing Rights (SDR4,450,000).
Section 2.02. The Borrower shall pay to the
Bank a service charge at the rate of one per cent (It) per annum
on the amount of the Loan withdrawn from the Loan Account and
outstanding from time to time.
Section 2.03. For any special commitment
entered into by the Bank at the request of the Borrower pursuant
to Section 5.02 of the Loan Regulations, the Borrower shall pay
to the Bank a fee at the rate of one-half of one per cent (0.5%)
per annum on the principal amount of such special commitment
outstanding from time to time.3
Section 2.04. The service charge and any
other charge on the Loan shall be payable semi-annually on
15 March and 15 September in each year.
Section 2.05. ’ The Borrower shall repay the
principal amount of the Loan withdrawn from the Loan Account in
accordance with the amortization schedule set forth in Schedule
2 to this Loan Agreement.
ARTICLE III
Use of Proceeds of the Loan
Section 3.01. The Borrower shall cause the
proceeds of the Loan to be applied to the financing of
expenditures on the Project in accordance with the provisions of
this Loan Agreement.
Section 3.02. The goods and services and
other items of expenditure to be financed out of the proceeds of
the Loan and the allocation of amounts of the Loan among
different categories of such goods and services and other items
of expenditure shall be in accordance with the provisions of
Schedule 3 to this Loan Agreement, as such Schedule may be
amended from time to time by agreement between the Borrower and
the Bank,
Section 3.03. Except as the Borrower and
the Bank shall otherwise agree, all goods and services to be
financed out of.the proceeds of the Loan shall be procured in
accordance with the provisions of Schedule 4 and Schedule 5 to
this Loan Agreement.
Section 3.04. Except as the Borrower and
the Bank shall otherwise agree, the Borrower shall cause All
goods and services financed out of the proceeds of the Loan to
be used exclusively in the carrying out of the Project.
Section 3.05. Withdrawals from the Loan
Account shall be made only on account of expenditures relating
to goods and services which:
A4
(i) are produced in, or are supplied from, such
member countries of the Bank as shall have been
specified by the Bank from time to time as
eligible sources for procurement, and
(ii) meet such other eligibility requirements as shall
have been specified by the Bank from time to
time.
Section 3.06. The closing date for
withdrawals from the Loan Account for the purpose of Section
8.03 of the Loan Regulations shall be 30 June 1991 or such other
date as may from, time to time be agreed between the Borrower and
the Bank.
ARTICLE IV
Particular Covenants
Section 4.01. (a) The Borrower shall cause
the Project to be carried out with due diligence and efficiency
and in conformity with sound administrative, financial,
engineering and port management practices.
(b) In the carrying out of the Project and operation
of the Project facilities, the Borrower shall perform, or cause
to be performed, all obligations set forth in Schedule 6 to this
Loan Agreement.
Section 4.02. The Borrower shall make
available, promptly as needed, the funds, facilities, services,
land and other resources which are required, in addition to the
proceeds of the Loan, for the carrying out of the Project and
for the operation and maintenance of the Project facilities.
Section 4.03. (a) In the carrying out of
the Project, the Borrower shall cause competent and qualified
consultants and contractors acceptable to the Borrower and the
Bank, to be employed to an extent and upon terms and conditions
satisfactory to the Borrower and the Bank.5
(b) The Borrower shall cause the Project to be
carried out in accordance with plans, design standards,
specifications, work schedules and construction methods
acceptable to the Borrower and the Bank. The Borrower shall
furnish, or cause to be furnished, to the Bank, promptly after
their preparation, such plans, design standards, specifications
and work schedules, and any material modifications subsequently
made therein, in such detail as the Bank shall reasonably
request.
Section 4.04. The Borrower shall ensure
that the activities of its departments and agencies with respect
to the carrying out of the Project and operation of the Project
facilities are conducted and coordinated in accordance with
sound administrative policies and procedures.
Section 4.05. (a) The Borrower shall make
arrangements satisfactory to the Bank for insurance of the
Project facilities to such extent and against such risks and in
such amounts as shall be consistent with sound practice.
(b) Without limiting the generality of the foregoing,
the Hotrower undertakes to insure, or cause to be insured, the
goods to be imported for the Project and to be financed 'out of
the proceeds of the Loan against hazards incident to the
acquisition, transportation and delivery thereof to the place of
use or installation, and for such insurance any indemnity shell
be payable in a currency freely usable to replace or repair such
goods.
Section 4.06. (a) The Borrower shall
maintain, or cause to be maintained, records and accounts
adequate to identi’fy the goods and services and other items of
expenditure financed out of the proceeds of the Loan, to
disclose the use thereof in the Project, to record the progress
of the Project (including the cost thereof) and to reflect, in
accordance with consistently maintained sound accounting
practices, the operations and financial condition (to the extent
relevant to the Project) of PWD, PMD and any other agencies of
the Borrower responsible for the carrying out of the Project and
operation of the Project facilities, or any part thereof.
(b) The Borrower shall (i) maintain, or cause to be
maintained, separate accounts for the Project; (ii) have such
accounts and related financial statements audited annually, in
accordance with sound auditing standards, by auditors acceptable
vto the Bank; (iii) furnish to the Bank, as soon as available,
but in any event not later than six (6) months after the end of
each related fiscal year, unaudited copies of such accounts and
financial statements, and not later than nine (9) months after
the end of each related fiscal year, certified copies of such
audited financial statements and the, report of the auditors
relating thereto, all in the English language; and (iv) furnish
to the Bank such other information concerning such accounts and
financial statements and the audit thereof as the Bank shall
from time to time reasonably request.
(c) The Borrower shall enable the Bank, upon the
Bank's request, to discuss the Borrower's financial statements
and its financial affairs relevant to the Project from time to
time with the Borrower’s auditors, and shall authorize and
require any representative of such auditors to participate in
any such discussions requested by the Bank, provided that any
such discussion shall be conducted only in the presence of an
authorized officer of the Borrower unless the Borrower shall
otherwise agree.
Section 4.07. (a) The Borrower shall
furnish, or cause to be furnished, to the Bank all such reports
and information as the Bank shall reasonably request concerning
(i) the Loan, and the expenditure of the proceeds and
maintenance of the service thereof; (il) the goods and services
financed out of the proceeds of the Loan; (iii) the Project;
(iv) to the extent relevant to the Project, the administration,
operations and financial condition of PWD, PMD and any other
agencies of the Borrower responsible for the carrying out of the
Project and operation of the Project facilities, or any part
thereof; (v) financial and economic conditions in the territory
of the Borrower and the international balance-of-payments
position of the Borrower; and (vi) any other matters relating to
the purposes of tfce Loan.
(b) Without limiting the generality of the foregoing,
the Borrower shall furnish, or cause to be furnished, to the
Bank quarterly reports on the carrying out of the Project and on
the operation and management of the Project facilities. Such
reports shall be submitted in such form and in such detail and
within such a period as the Bank shall reasonably request and
shall indicate, among other things, progress made and problems
encountered during the quarter under review, steps taken or
proposed to be taken to remedy these problems, and the proposed
program of activities and expected progress during the following
quarter.7
(c) Promptly after physical completion of the
Project, but in any event not later than three (3) months
thereafter or such later date as may be agreed for this purpose
between the Borrower and the Bank, the Borrower shall prepare
and furnish to the Bank a report, in such form and in such
detail as the Bank shall reasonably request, on the execution
and initial operation of the Project, including its cost, the
performance by the Borrower of its obligations under the Loan
Agreement and the accomplishment of the purposes of the Loan.
Section 4.00. The Borrower shall enable the
Bank's representatives to inspect the Project, the goods
financed out of the proceeds of the Loan, and any relevant
records and documents.
Section 4.09. The Borrower shall ensure
that the Project facilities are operated, maintained and
repaired in accordance with sound administrative, financial,
engineering and maintenance and operational practices.
Section 4.10. (a) It is the mutual
intention of the Borrower and the Bank that no other external
debt owed a creditor other than the Bank shall have any priority
over the Loan by way of a lien on the assets of the Borrower.
To that end, the Borrower undertakes that, except as the Bank
shall otherwise agree, if any lien shall be created on any
assets of the Borrower as security for any external debt, such
lien will ipso facto equally and ratably secure the payment of
the principal""of, and service charge and any other charge on,
the Loan and that the Borrower in creating or permitting the
creation of any such lien, will make express provision to that
effect.
(b) The provisions of paragraph (a) of this Section
shall not apply to: (i} any lien created on property, at the
time of purchase thereof, solely as security for payment of the
purchase price of such property; or (ii) any lien arising in the
ordinary course of banking transactions and securing a debt
maturing not more than one year after its date.
(c) The term "assets of the Borrower" as used in
paragraph (a) of this Section includes assets of any political
subdivision or any agency of the Borrower and assets of any
agency of any such political subdivision, including the Central
Bank of Vanuatu and any other institution performing the
functions of a central bank for the Borrower.8
ARTICLE V
Suspension; Acceleration of Maturity
Section 5.01. The following is specified as an
additional event for suspension of the right of the Borrower to
make withdrawals from the Loan Account for the purposes of
Section 8.02(1) of the Loan Regulations: the Government of the
Borrower shall have failed to perform any of its obligations
under the Technical Assistance Agreement.
Section 5.02. The following is specified as an
additional event for acceleration of maturity for the purposes
of Section 8.07(d) of the Loan Regulations: the event specified
in Section 5.01 of this Loan Agreement shall have occurred.
ARTICLE VI
Effectiveness
Section 6.01. The following are specified as
additional conditions to the effectiveness of this Loan
Agreement for the purposes of Section 9.01(f) of the Loan
Regulations:
(a) the Technical Assistance Agreement shall have
been duly authorized or ratified by, and executed and delivered
on behalf of, the Government of the Borrower and shall be
legally binding upon the Government in accordance with its
terms; and
(b) the Project Management Office shall have been
established, as provided in paragraph 2 of Schedule 6 to this
Loan Agreement.
Section 6.02. The following is specified as an
additional matter, for the purposes of Section 9.02(d) of the
Loan Regulations, to be included in the opinion or opinions to
be furnished to the Bank: that the Technical Assistance
Agreement has been duly authorized or ratified by, and executed
and delivered on behalf of, the Government of the Borrower and
is legally binding upon the Government in accordance with its
terms, subject only to the effectiveness of this Loan Agreement.Section 6.03. A date ninety (90) days after
the date of this Loan Agreement is specified for the
effectiveness of the Loan Agreement for the purposes of Section
9.04 of the Loan Regulations,
ARTICLE VII
Miscellaneous
Section 7.01. The Minister of Finance and
Housing of the Borrower is designated as representative of the
Borrower for the purpbses of Section 11.02 of the Loan
Regulations.
Section 7.02. The following addresses are
specified for the purposes of Section 11.01 of the Loan
Regulations:
For the Borrower;
Ministry of Finance and Rousing
P.O. Box 21
Port Vila
Republic of Vanuatu
Telex Number
1040 VANGOV NH
For the Bank:
Asian Development Bank
P.O. Box 789
Manila, Philippines
Cable Address;
ASIANBANK
MANILAL
Telex Numbers:
23103 ADB PH (RCA)
40S71 ADB PM (ITT)
63587 ADB PN (ETPI)
IN WITNESS WHEREOF the parties hereto, actin? through
their representatives thereunto duly authorized, have caused
this Loan Agreement to be signed in their respective names as of
the day and year first above written
REPUBLIC OF VANUATU
■
SELA MOLISA
Authorized Repreaentativ
ASIAN DEVELOPMENT BANK .
Programs Department (East)
*1t
11
SCHEDULE 1
Description of the Project
1. The primary objective of the Project is to provide a
new overseas wharf for Santo Port. The Project consists of the
following components:
(i) Overseas Wharf: construction of a new earthquake
resistant wharf 130 meters in length with a
reinforced concrete deck suspended on a steel
pipe pile structure, including a revetment
mattress for erosion prevention, and reclamation
and paving of the back-up area;
(ii) Ancillary Works; provision of necessary ancillary
facilities, including improvements to drainage
and extension of water pipes for fire fighting
facilities; provision of lighting, security
fencing and gates; provision of dangerous goods
storage facilities; provision of eight' reefer
slots for refrigerated containers; basic
refendering of about 30 meters of the existing
overseas wharf; and relocation of the existing
weighbridge and provision of an additional,
weighbridge; and
(iii) Consultant Services: provision of consultant
services for. the evaluation of tenders and
construction supervision.
2. The Project is expected to be completed by
30 April 1990.12
SCHEDULE 2
Amortization Schedule
(Santo Port Project)
Date Payment Due Payment of Principal
(expressed in Special
Drawing Rights)
*
15 March 1998 SDR 44,500
15 September 1998 44,500
15 March 1999 , 44,500
15 September 1999 44,500
15 March 2000 44,500
15 September 2000 44,500
15 March 2001 44,500
15 September 2001 44,500
15 March 2002 44,500
15 September 2002 44,500
15 March 2003 44,500
15 September 2003 44,500
15 March 2004 44,500
15 September 2004 44,500
15 March 2005 44,500
15 September 2005 44,500
15 March 2006 44,500
15 September 2006 44,500
15 March 2007 44,500
15 September 2007 44,500
15 March 2008 89,000
15 September 2008 89,000
15 March 2009 89,000
15 September 2009 89,000
15 March 2010- 89,000
15 September 2010 89,000
15 March 2011 89,000
15 September 2011 89,000
15 March 2012 89,000
15 September 2012 89,000
15 March 2013 89,000
15 September 2013 89,000
* The figures in this column represent SDR equivalents
determined as of the respective dates of withdrawal. The
arrangements for payment of each maturity are subject to the
provisions of Sections 3.04 and 4.03 of the Loan Regulations.13
Date Payment Due Payment of Principal
(expressed in Special
*
Drawing Rights)
15 March 2014 89,000
15 September 2014 39,000
15 March 2015 89,000
15 September 2015 89,000
15March 2016 89,000
15 September 2016 89,000
15 March 2017 89,000
15 September 2017 89,000
15 March 2018 89,000
15 September 2018 89,000
15 March 2019 89,000
15 September 2019 89,000
15 March 2020 89,000
15 September 2020 89,000
15 March 2021 89,000
15 September 2021 89,000 .
15 March 2022 89,000
15 September 2022 89,000
15 March 2023 89,000
15 September 2023 89,000
MidTli 2024 89,000
i5 September 2024 89,000
15 March 2025 89,000
15 September 2025 89,000
15 March 2026 89,000
15 September 2026 89,000
89,000
15. March 2027
15 September 2027
Total SDR 4,450,000
* The figures in this co\umn represent SDR SDR equivalents
equivaxenvo
determined as of the respective dates of withdrawal. ' . The
arrangements for payment of each maturity are subject to the
------ _
- o--e a-wr- ----- 3,04 and 4.03 of the Loan Regulations.
provisions of Sections 3.0414
SCHEDULE 3
Allocation and Withdrawal of Loan Proceeds
1. The table attached hereto sets forth the Categories of
goods, services and other items to be financed out of the
proceeds of the Loan and the allocation of amounts of the Loan
to each Category.
*
2. Except as provided in this Schedule or as the Bank may
otherwise agree, no withdrawals from the Loan Account shall be
made in respect of any local expenditures on the Project.
3. With respect to the civil works included in Category
I, the amount of SDR2,913,000 allocated to Category I represents
the presently estimated foreign currency cost of such works.
Such amount is equivalent to about 69% of the presently
estimated total cost of such civil works. For the purpose of
withdrawals from the Loan Account in respect of such civil
works, the figure of 69% shall apply to Category I.
4. With respect to the consultant services included in
Category II, the amount of SDR269,000 allocated to Category II
represents the presently estimated foreign currency cost of such
services. Such amount is equivalent to about 89% of the
presently estimated total cost of such consultant services. For
the purpose of withdrawals from the Loan Account in respect of
such services, the figure of 09% shall apply to Category II.
5. The amount of SDR6i6,000 allocated to Category III is
for financing local expenditures for civil works. Such amount
may be withdrawn from the Loan Account in foreign currency on
the basis of 15% of each payment for expenditures for civil
works, subject to the maximum amount of SDR616,000.
6. The Bank shall be entitled to withdraw from the Loan
Account and pay to itself, on behalf of the Borrower, the
amounts required to meet payments, when due, of service charge
on the Loan during the construction period of the Project.
7. Notwithstanding the allocation of Loan proceeds and
the withdrawal percentages set forth above:I
15
Schedule 3
(a) if the amount of the Loan then allocated to any
Category (other than Category III) appears to be
insufficient to finance all agreed expenditures
in that Category, the Bank may, by notice to the
Borrower, (i) reallocate to such Category, to the
extent required to meet the estimated shortfall,
amounts of the Loan which have been allocated to
another Category but, in the opinion of the Bank,
are not needed to meet other expenditures, and
(ii) if such reallocation cannot fully meet the
estimated shortfall, reduce the withdrawal
percentage applicable to such expenditures in
order that further withdrawals under such
Category may continue until all expenditures
thereunder shall have been made;
(b) if the amount of the Loan then allocated to any
Category appears to exceed all agreed
expenditures in that Category, the Bank may, by
notice to the Borrower, reallocate such excess
amount to any other Category (other than Category
III) as required.i
16
Attachment to Schedule 3
ALLOCATION OF PROCEEDS OF LOAN
(Santo Port Project)
Category Amount Allocated
(SDR Equivalent^
I. Civil works SDR 2,913,000
II. Consultant Services 269,000
III. Local Expenditures
for Civil Works 616,000
IV. Service Charge During
Construction .63,000
V. Unallocated 589,000
Total SDR 4,450,0'0017
SCHEDULE 4
Procurement
Except as the Bank may otherwise agree, the procedures
set forth in the following paragraphs of this Schedule shall
apply in the procurement of goods and services to be financed
out of the proceeds of the Loan. The term "services
* in this
Schedule does not include consulting services.
2. Procurement of goods and services shall be subject to
the provisions of the "Guidelines for Procurement under Asian
Development Bank Loans
* dated May 1981, as amended from time to
time, which have been furnished to the Borrower.
3. Procurement of goods and services shall be made
without any restriction against, or preference for, any
particular supplier or contractor or any particular class of
suppliers or contractors.
4. (a) The single civil works contract combining both
the construction of the overseas wharf and the ancillary works
described in Schedule I to this Loan Agreement shall be awarded
on the basis of international competitive bidding as described
in Chapter II of the Guidelines for Procurement. Bidders for <
the civil works contract shall be prequalified before bidding.
(b) For the civil works contract, there shall be
submitted to the Bank, as soon as possible, and in any event not
later than 90 days before the issuance of either the first
prequalification invitation or the first invitation to bid for
the Project, a General Procurement Notice (which the Bank will
arrange to publish separately) in such form and detail and
containing such information as the Bank shall reasonably
request.
(c) Procurement actions shall be subject to review by
the Bank in accordance with the procedures Bet forth in Chapter
IV of the Guidelines for Procurement. The draft invitation to
bid, to be submitted to the Bank for approval under such
procedures, shall reach the Bank at least 21 days before it is
issued and shall contain such information as the Bank shall
reasonably request to enable the Bank to arrange for the
separate publication of Buch invitation.J
SCHEDULE 5
Consultants
*• The services of consultants shall be utilized in the
carrying out of the Project, particularly with regard tot
(a) the evaluation of tenders; and
(b) supervision of construction.
*
The terms of reference of the consultants shall be as determined
by agreement between the Bank and the Borrower.
*
2- The selection, engagement and services of the
consultants shall be subject to the provisions of this Schedule
and the provisions of the "Guidelines on the Use of Consultants
by Asian Development Bank and Its Borrowers’ dated April 1979,
as amended from time to time, which have been furnished to the
Borrower.
3. (a) For the consulting services described .in
paragraph 1 of this Schedule, a contract may be negotiated by
PWD with the consultants who have been engaged for preparation
of designs and tender documents for the Project. Before a
contract is signed with such consultants, three copies of the
draft contract as negotiated shall be furnished to the Barik for
HhlUnVdL Promptly after the contract is signed, the Bank shall
be furnished wlLh three copies of the signed contract. If any
substantial amendment of the contract iB Pr°P?®®d.af* of. nk
execution, the proposed changes shall be submitted o
for prior approval.
/ba Fxreot as the Bank may otherwise agree, the
negotiation of the .contract with the above-mentioned consultants
shill be concluded within 90 days “ft« the date^ft^Loan^
Agreement. If such contract c shall be engaged by PWD in
within such period, other consu Bank’s "Guidelines on the
S^of^nsul^nts" andTuch supplementary procedures a. may be
determined by the Bank. ,19
SCHEDULE 6
Execution of Project; Financial Matters;
Other Operational Matters
1. EXECUTION OF THE PROJECT
A. Executing Agency
!• PWD shall be the Executing Agency for the Project anti
shall be responsible for overall Project implementation.
B. Project Management Office
2. Prior to the Effective Date of thia Loan Agreement, a
Project Management Office (PMO) shall be established within PWD
under the supervision of the Director of PWD. The PMO shall be
responsible for the day-to-day implementation of the Project and
the coordination of Project activities, including planning,
procurement, monitoring of construction and installation,
liaising with consultants, maintenance of records and. accounts,
preparation of reports and liaising with the Bank. PWD shall
appoint a Project Manager satisfactory to the Bank to supervise
the activities of the PMO on a full-time basis. The Project
Manager shall be supported by such technical and administrative
staff as may be necessary for the successful implementation of
the Project, including at least one full-time technical
assistant.
II. FINANCIAL MATTERS
A. Action Plan
3. The Borrower shall carry out an Action Plan as agreed
upon with the Bank to improve the financial performance of Santo
Port. The Borrower shall take necessary measures (including
adjustments to the structure and rates of port tariffs, as
required) in a timely manner to achieve the financial targets
set out in the Action Plan in accordance with the schedule set
forth in the Action Plan.
B. Financial Performance
4. (a) Except as the Bank may otherwise agree, for each
of the fiscal years after the fiscal year ending on 31 December
1987, the Borrower shall ensure that Santo Port maintains its
financial performance at least at levels which are sufficient to
achieve the financial targets agreed upon in the Action Plan, op
a notional basis, including the following operating ratios:
*i20
Schedule 6
1968 1989 1990 onwards
85ft 75ft 70%
(b) For this purpose;
(i) The term "operating ratio" shall be
calculated by dividing "total operating
expenses" by "total operating revenues".
(ii) The term "total operating expenses" means
all expenses related to the operations of
Santo Port, including administration,
adequate maintenance and depreciation on
assets. Depreciation on assets shall be
calculated in accordance with the provisions
of the Action Plan.
(iii) The term "total operating revenues" means
revenues from all sources related to the
operations of Santo Port.
(c) The above operating ratios shall be reviewed as
necessary from time to time between the Borrower and the Bank to
take account of any changes in policies or events affecting the
operations of Santo Port.
III. OTHER OPERATIONAL MATTERS
A. Land Acquisition
*
5. The Borrower shall ensure that all land, rights in
land, and other rights and privileges required for the Project
are promptly acquired or otherwise made available so as to avoid
any delay in Project implementation.
B. Operation and Maintenance
6. PMD shall be responsible for the proper operation and
maintenance of the Project facilities. Without limiting the
generality of Section 4.02 of this Loan Agreement, the Borrower
shall make available through its annual budgetary process,
promptly as needed, any funds required by PMD for Project
operations and maintenance. The Borrower shall also appoint in
a timely manner all staff, including professional, technical and
supporting staff, as may be required for the operation and
maintenance of the Project facilities.21
Schedule 6
c* Records, Accounts and Reports
7- The PMO shall be responsible for maintaining the
financial records, accounts and reports required under Section
4.06 of this Loan Agreement and PMD shall maintain the records
and accounts required under the Action Plan. If any of the
financial statements or projections to be produced by PMD under
the Action Plan indicate that Santo Port will not meet the
financial targets described in the Action Plan or in paragraph 4
of this Schedule, the Borrower shall promptly furnish to the
Bank a written report summarizing the necessary measures to be
taken in order to meet such financial targets.
D. Local Currency Costs
8. Without limiting the generality of the Borrower's
obligations under Section 4.02 of this Loan Agreement, the
Borrower shall ensure that allocations adequate to cover all
local currency costs of the Project which are not financed under
the Loan are included on a timely basis in the national budgets,
beginning with the national budget for the 1988 fiscal year.
E. Environmental Protection
g, The Borrower shall ensure that adequate attention is
given to minimizing any adverse environmental effects of the
r, ■ +„ thl a effect shall be included in tender
project, the Project faciXitlee.
specifications lor const
rR£pUBLIQUE DE VANUATU
PROJET DE LOI
.N’. .2 DE, 19,88. REL&TI.F .A. ,IA. .QPJjy.EMTJCPJJ.. J? RET.. KNTRJ5. DA. BEROBUftUE. DE. VANUATU
ET LA BANQUE ASIATIQUE DE DEVELOPPEMENT (RATIFICATION)
CERTIFICATION
PAR LE SECRETAIRE G^N^RAL DU PARLEMENT
$e declare la psieAetde c&ple j, al a^nfia/iee aa lezle de la -Pal
uete pal le Pademe+d, caple ca^ai4ne de ce Pnajet de Jjm
Signature:
SECRETAIRE GENERAL DU PARLEMENT
ylA Avril 1988....
$e declare la piedeade dial p/iamulcpde
Signature ■W b b b Ajjrrr '■■■ t* b b b b bjjjukb b » i ++ r 8 b 8 + + ■(■
president de la rEpublique
&
($, Avril 1988REFUEL IQUE DE VANUATU
LOL NO, 2_ DE 19B8 RELATIF
A LA CONVENTION DE FRET ENTRE LA REFUELIQUE DE VANUATU ET
LA. BANQUE AS I AT I QUE DE DE/ELOPPEMENT (RATIFICATION)
Sommai re
1. Rati fication.
•* — » Entree en vigueur.
ANNEXEREPUBL1QUE DE VANUATU
JLDI._N02 DE L9HB RELATIF A LA CONVENTION DE„FRET
ENTRE LA REPUBLIGUE DE VANUATU ET LA BANQUE AS I AT I QUE DE~ DEVELOPPEMENT
(RATIFICATION)
Portant ratification de la convention de pr£t signee le 19 f^vrier
19Bt3 entre la R^publique de Vanuatu et la Banque asiatique de develop-
percent.
Le president de la Rdpublique et le Parlement promulguent le texte
suivant :
RATIFICATION
1-PRET NO. 043 VAN tSF)
CONVENTION DE PRET
(Operations spAciales)VPHy,^IJQH.-RE. PfiSI
(Operations special os)
CONVENTION DE PRET en date du 19 f^vrier 1900
entre la REFWLIQUE DE VANUATU (ci-apr&s dt^nomm^e 1 ' Einpruntcur) et Ki
GANGUE. ASIATIQUE DE DEVELOPPEMENT (ei-aprfcs dd?ncxnm6e la Barque) D
ATTENDU QUE :
(A) 1 ' Emprunteur a sollicit^ de la Banque un prfct en vue de Ki
rdal i sat i on du Pro Jet d^cr i t. b 1 * Annex e I de la pi" ^su-ittc
Convention de pr&t ;
(B) 1 'Enprunteur a aussi soil Ki tE de la Banque une aide technique
pour renforter le service des Travaux publica du mxnistEre des
Tran spurK, C< inmiun i c a t i on s e t Travaux publics de 1 * Emprunteur,
et par un accord de m£me date entre le Gouvernement de
1 ' E mpt unteur el. la Banque (dEntimmE ci-aprEs “Accord d 'aide
technique") t la Banque a accept6 de fournir une sub ven ti on
d'aide technique A ce« fins jusqu’i concurrence de ) * Equivalent
de trois cent '.ingt-cinq millo dollars (•> 323 000)
* ; et(a> "MTCT'1 design® le ministEre den Transports, des
Communications et das Travaux publics de
I'Emprunteur , et y inclut tout auccesBeur j
(b) "HPM1' design® le service des Porta et de la
Marine du MTCT, et y inclut tout sqccesseur j
(c) "TP" d&signe le service des Travaux publics du
minisit&re des Transports, des Communications et
dos Travail!-: publics, et y inclut tout
succeseeur s
(cl) "Agent d ' execution du Frojet11 slgni-fie, aux
fins d'application du REglament nt eat limits E
ce sens, les TP responsibles de la mine en
oeuvre du projet ;
(e) "Installations du Projet1' signi-fie les
installation -fournies du E fournir aux termes
du Projet.
LITRE U
* Le Prtt
Article 2.01. La Banque accepts de prbter & 1'Emprunteur' un
•antant, ten di verses monnaies, Equivalent A qliat.rr?
millions quatre cent cinquante mill® droits de tirage
spEciaux prElevtfes sur les kinds spdciauM de la Banque
(UTS 4.450.000).
Article 2.02. L'Emprunteur verse la Sanque une commission *
u taux
de un pour cent (17.) par an sur le montant du pr
t
*
retire clu compte de pr£t at non encore remboursE.
Article 2,03, L. ' Emprunteur verse une commission ssuppl ^mental r e- d ‘ un
demi pour cent (0,57.) par- an sur le principal de tout
engagement special contracts par la Barque A la de—
inande de 1 ‘ Empr unteur contarmament aux dispositions
de 1'article 5.02 du R&qlement, et non encore rem-
boursi£.
Ai"tide 2.04. La commission et: touts autre charge sur le PrAti SDnt
payables tous les semestres, lea 15 f''iiiar» et 15
septembre de cheque annite.
Article 2,05. L'Emprunteur rembnurse le principal du prl»t retire du
CDinpte de pr&t conf armament aux dispositions du
calencirier d ' amort i saement stipulE dans 1'Annexe II
de la presents Convention de prfet.I
IHMJU
Utilisation du montant du prdt.
■-At’ 11 c I e S.Ot u L' Emprunteur cluit a-f-f ertar 1 eti -funds du prit au
finantement des dApsnses du Frcijst, roMormAmwnt aux
d,i. spositior.s tit? la pr Assent® Convention da prdt.
Art ide ^..02. L.es march«andi sa>s, 1 (services «t autruB articles des
dAp w ws couvertes par J e montant du prftt , .1 ’ a-f-f ect a -
tion des mantants du pre?t auw di verses cat Agor i rjs de
c®fs mar chan di ses st m?r vices st. aux autres articles
dem dispenses doivent fctre con-formes aux dispositions
de 1 'Annexe 3 de la prA^entes Convention de * pr’&t , ou A
toui.ets modifications pnuvant Atre apportAee pAriodi
quement. 'accord-parties entre la Banque et. 1 'Emprun-
teur..
Ar t i c 1 w .03. Sauf decision contra!ret de 1 :Emprunteur et dts la
Banque, toutes les merchandises et les services fi
nances par le montant du prftt sent fuurnis con-for mo
ment aux dispositions des Annexes 4 et 3 de la pre
sent® Convention de pr&t.
firticle .04. Bau-f decision contraira de 1 'Emprunteur et de la
Banqus, 1'Emprunteur doit utilizer exclusivement
toutes les merchandises c‘t les services tinaneds par
le montant du prfet e» la realisation du Projet.
Art! Cl» 05 Pour dormer lieu A un retrait du compte de prist, 1M
marchandises et les services doivent r emp1 i r 1 es
conditions suivantes s
Atre -fabriqufcs ou -fournis par un des pays mem-
bre» de la Banque que cette dernilre spAcifie
pAriodiquement ;
(ii) rApondr® aux exigences -frurmulAes par la Banque
pAr i odi quement..
*
Article .06. Con-F or moment aux dispositions de 1 'article 0.03 du
RAglamnnt sur les prets, la date limits des retraits
du compte de prfet est fix Ao au 30 Juin/le?91 du A
tout® autre date fixAe ul t Ar i cur ement par 1 'Eeprun-
teur st la Basque. . 'Claus
** **
particullfcr
Ar I. i r 1 e 4 □ O1 „ ia) L ‘ E mprunteur doit fair
* *rx♦
Sens prAjuciicut ijte ce qui pr Ac Ad nt, 1'Emprunteur
s'engage A assurer on faire assurer les mar--
chandiaee importAes pour le Projet, devant Atr e
fi nancies par le montant du Projet centre tout
risque reletit & 1 eur acquisition, transport et
livraison au lieu de leur utilisation ou im
plantation. route compansation relevant de
ladite assurance doit fttre payable an monnaie
facilement utilisable pour remplacer ou rSparer
ces articles.
Ar t i c 1» * <
autrement. /
IArticle 4.07. (a) L‘Emprunt«ur dolt fair® parvwnir A la Banqua
tous lu-a rapport
* mt r ensei gnmonents requis
concemant i Ci) la prfct , les d$pensen effec
*
-
tu£&« sur son mont.ant et am rombourmoment ;
(ii) 1 e*a mar chand i sfes ®t aprvicas converts par
It? rncjntiftnt du prdt ; (iii) le Pro Jet ; (iv)
dans la meaure ou tela concern® le Projet,
1 admi ni str at i on , les operations et la situa
tion financier® lIus T.P-, du service de * Ports
et de la Marin® »t de tout autre agent de
1'Ewiprunteur charge d'exifecuter Its Projet ainsi
que du fonctionnement de tout rau partie des
installations, du Projet' $ Cv) la situation
^conotiu qua et financiibre du territoire de 1 JEm-
prunteur et 1'd?tat de balance des paiements
internationaux j (vi) et, an dernier lieu,
touted mati^rea relatives au Frojat.
(b) •Sans prejudice de ce qui pr&cfcde, 1'Emprunteur
doit faire parvenir A la Banque des rapports
trimestriels sur 1'execution du Projet ainsi
que sur la fonctionntiwnt at U gestion des
installations du Projet. Cea rapports doivent
6tre &tablis dans la forme, avec lw details wt
aux dates spicifi^s par la Banqua et indiquer,
entre autres, les progrin realists ®t les
di i-f i cul rencontrtei au tours du trimestre
en question, lea meaures prises ou propos6es
pour rem&di er aux di ifi cultis ai n«i qua 1as
provisions d'activiet de prcgrfcs pour le
trimeetre suivant.Ar t id
* » 10. L'Emprunteur et 1 * Banque *
ont convunus qu *
u-
*
cun autre dntte extern® due A un crAditeur
autre qu® la Banque n'a priorite tur le? pr#l.;
par uri droit da retention sur lac avoirs de
1‘Emprunteur. A cette fin, 1'Empr unt eur iscc.ep -•
te qu ' en ca® de retention de sc® bieiw en
raison de toute crianc * extern®, la m&ine reten
tion garantiwae ipso facto 1® rumbour spment du
pr' i nc i pal. , do la commi«®ion et de tout® autre
charge du pr&t et de pr endrt A cel ef ie *t une
di apo sii i un pr esse en crAant du en autorisant
lad it.® retention desdit.® bi ens.
du present
article rie s'appliquent :ULIBEJZl
Validity
tI, c 1 e d» .01. Aux Fins ci ' app 1 i cat, i on da 1 ’article 9.01 (f) du
R^glemunt, sur j es pr#t«, *
Ins condition suivantes
s'ajoutent aux conditions requmee pour rendre
effective la ponente Convention de pr>t :
(a) 1 'Accord d'Aide technique doit avoir 4t6 drtment.
autori«6 ou ratiFi et execute at d&livr£ an
nom du Gouvernement de 1’Emprunteur et rendu
e):4cutoire dans touted sea clauses par ce
dernier ;
(b> 1e Bureau d'»dministration du Projet dDi t avoir
cr^ comnie prAvu u
* paragraph® 2 de
1’Annexe de la present© Convention de prftt.
Article 6.02.. Auk fins d ' application de 1 ‘article 9.02Pour 1 ' Emprunteur t
Ministre des Finances, du Commerce et de 1 'Industries
B.P. 31
Pc)rt-~Vila
R6publique de Vanuatu
T£lex : 1040 - VANBDV - IMH
Four 1Description du Projet
Le premier objecti-f du Projet consists A doter Santo
tTun nouveau quai susceptible d'accueillir lets
"navires d'Outre-mer", Lb Prpjet comprend »
(i) Un quai pour les navirea d'Outre-mer :
construction d ’ un nouveau quai , 4 I'ipr.euve des
tremblements ?,
de terr
* de 130 m de long aver;
une plate-farw de bEton armi auependue sur une
structure de pieux et de tuyaux mEtalliques y
compri# un matelas de revEtement anti-ErosiF,
ainai que 1® dE-f r i chement et Le pavage de la
zone de soutien •,
(11) Jravaux auxiliairiss t installations auxiliaires
nEcessaires, y compris des ameliorations du
system® de drainage et 1'extension des
conduites d'eau pour le# installations de lutte
contra l'incendie j doivent titre installs
*
Egalament Idclairage des barriEres et portails
de sEctiritE ; des docks pour entreposnr les
marchandises dangereuses sent Agalwment prbvus
ainsi que huit emplacements rbservts aux
conteneurs rE+rigErEa ; travaux de rE-fection du
pare—battage sur 30 m environ du quai existant;
en-fin, un nouvel emplacement est riservd au
pent & bascule existant, et un pont E bascule
supplementalre est prbvu | et
Services d'expertise t css services sent prdvus
pour 1'Evaluation des soumissione et la
supervision de la construction.
Le Prejet devr* Etre achevE le 30 avril 1990.ft N H.J5.XJ&.... 2
Tableau d'amortisstment
tr ...jly_£rX'.i£.l0-‘sA-
(CMprimA »n droits de tirage
sp&ciauM ’* *DT9>
mar Ki 201 4 09.COO
t ftffibr 1® .2014 09.000
mar & 2015 09.000
5: t-?pte?mbr e 2015 09.000
fl’ar «s 2016 09.OGO
septombr e 2016 09.000
in ar *5 201'7 99.000
septembre 2017 09.000
mars 201 a 09.OOO
septemhre 2010 09.GOO
mars 2019 09.000
a?
septembre 2019 09.000
mar a
eg
2020 89,000
in bi in si tn in sn
septembr e? 2020 09.000
mars 2021 f 09.000
septembre 2021 89.000
mars 2022 89.000
septembre 2022 89.000
mars 2023 09.000
septembre 2023 89.000
&
mars 2024 99.000
m in*>
septembre 2024 99.000
mars 2025 09.000
si
septembre 2025 09.000
st
mars 2026 89.000
in in tn
sep tembr® 2026 89.000
mars 2027 09.000
septembre 2027 89.000
— — — r? — -F>—
Total DTffi 4.450.000
vwi «A4 ’feet at ion ®t retrait du montant du prat
Le tableau ci ■■'“joint indique i«a categories rite mar-
cl i an di sea , services et autre® articles cuuver t.» puir
le moot ant du prAt et *son affectation A chague cAt&"'
gor 1 e.
En rJehnrs des dispositions de c»tts annexh ou sauf si
La ELanque
Etaiique en ddci.de autrement, aucun retrait du
Comply de prtet n'est autorisA pour c ouvri r des
dei muses 1 ocal es du Pr ojet.
Ln re qu * concern© les travaux dis gefeni e civil j. nc 1 us
dans la Cat&gcrie I , le montant d» 2.913,000 D'TS
affects A ladite cat&gari® represent# le coQt actual
de cps travaux, ostime en monnaie AtrangAre. Ce
montant Aquivaut A environ 69‘Z du codt actual estimA
pour de t.elfn travaux. L.e chiffre de 697. doit s'ap-
pl 1quer A la CatAgori® I, aux fins da® retraits du
C camp t e de prfet concernant c»s travaux dr g&nie civil.
4 En ce qui concerns les servlca® d expertise incius
dans 1a Categories
* II, le montant de 269,000 DTS
affects A 1 adite categoric reprAsenta 1 ® co0t actuel
de ces service®,anniKH-i
®i la montant du Pr#t alnrs affects A tOUte
catAgorie (autre que la catAgurie III) n>e
rivfele insuf+£®ant pour financier toute® 1 fe®
d £penseta prAvuM dans ladite catCgorle, 1a
fianque pent, aprfe® en avoir aviaA 1’Emprunteur:
(i) ajuater & ladite categories de fagon &
couvrir le deficit estim6, lea montant® du Prfct
qui ont d *ti& affect6b A unt autre catAgorie mais
qui - sei on Eianque - rt'ont
la EBupol^aent A 1 Annexe 3
ftFFEQT.ftT.IPH PU. hONTftNT PU fffifil
(Projet du Port de Santo)
Hontant affeciA
(Equivalent DTS)
I. Travaux de g6nie civil DTS 2.913.000
11. Services d'expertise 269.000
III. Dispenses locales pour
travaux de g£nie civil 616.000
Commission pendant la
construction 63.000
Non affects 509.000
— w wq rftMta s
*
ff» I——« —ww w--
*** Ht»
Total DTS 4.430.000
16Appr qvI «1 onnawnt
Bauf Mi U Bsiiqua »n decide autreaent, la prqc^dur»
dAfinie c,i"de«Bau« a'appliqu® A 1'approvi«ionnement
en marchandises st ®n servicea -fin^nctS
* par 1b
montant du prht. Dans la prints Aniwi®, I# terma
"servicBs" n'inclut paa las iervicM d 'expertibb.
L,1 approvi sionnement «?n marchandieee et service® est
sou mis aux disposition® dsa “Directives relatives A
I'approvi«ionnewent aux trarmett dee prit» de la Barque
Asiatique de Dft N.N.E 11.... .a
*
Expert
Les services d'experts dalvent it re employ A * pour 1
*
*1
1'61 action du Projet, par 11 cul 1 Arement en ce qui
coneerne a
Ca> *
1 'Evaluation de soumiseiqnq « et
(b) *
1 supervision de la con#Vuction»
La Banque, en collaboration avec 1'Emprunteur, dAter'-
minent les attribution
* respective# des expert
*
.
2« La selection, 1 'engagement et les services d«s e>t-
perts stint soumia aux di spasi t i ohb de la prEaente
annex#, den "Directives relative
* A 1'empioi d'ex
perts par la Banque Asiatiqu© de DAveloppement et see
Empruntears" - avril 1979 ainsi qua de lours modifi
cations fournies £ l'Emprunteurs.
3, (a) Pour lea services d'expertise dAcrlts «u para-
graphs 1 de U present® annexe, un contrat pent
Otre nAcjociA par lea TP av#c les expert
* enga
ges pour 1 'Atablissement dee plans et des of-
*
, fr®s de soumissions pour Is ProJet une modification
important© du contrat ©st anviaagAe aprA
* son
exEcution, les changewnts proposes, do! vent,
tetr e sounds 6t la Banque qui dtvr# d'abord leu
appauver.
(b) 9a uf si la Banque en decide autrement, 1b»
nAgoci ati on# du contrat *vac les experts qen-
tionnAa plus haut dpi vent durer 90 Jour
* au
plus A compter de la date de I a Convention de
Prftt« Qi ledit contrat ne paut Hire nAgociA
durant une telle period©, les TP peuvent enga
ger d'autres experts conformAment auk disposi
tions des "Directives relative# 4 il'emplos.
d experts" de la Banques et aux procedures addi-
tionnellee dieter mi nAes par la Banque.
IBt
ft N bi.
Execution du Projat - Quest ion
* *
financiers
Autre
* question
* de fonctionnement
EMECMTjm.PQ
A. Aq
*n t d ' *K At:iutX un
t. Lea Travau« publ ics sont 1 ‘agent d'sxicution du
Frojet et sent reiponnabl a
* de la rAalieation
complete du Frojet.
»■ Durnau d e ,D i r pc.t jon ..du__Prpj»,t
Avant U date d'entrAa en vigueur de la prAsante
Convention de Pr At, un Bureau de la Direction du
Projet (BDP> sera crAA A 1’intArieur dy Service des
Travaux publics et supervise par 1® Direeteur de * TP.
L® Bureau de. Direction du Projet ast responaable de
la mise & execution quotidienne du Projet et de 1«
coordination *
de activity
* du Projet, y compris
1 'organisation, 1 *approvisicnnement, 1 * direction data
constructions et installations, 1
* liaison avec les
experts, la tsnue des registre
* et comptes, la
preparation des rapports et la liaiaon avec la
Banque. Le service des Travaux publics doit nommar
un Direrteur du Projet agrAA par 1
* Banqua pour
controller A plain temps les activity
* du Bureau de
Direction du Projet.- Le Dirtcttur du Projet doit
Atre aidA pour mener A bien * a tAche, par un person
nel technique et admi ni strati f , incl.uant au moins un
technician A pl ein temps.
Iu 0UE§LU5tl£^^
A• p l an d ' ac t i on
3. L'Emprunteur doit auivr
* un plan d'action qui
cori Vienna A la Banqu® pour amAllorer les operations
financilres du port da Santo. L'Emprunteur doit
prendre *
des meaures n^cessairas (y compris des inise
au point de structure et les taux de tar^f* de ports,
si uAceanaaire) , de faijon opportune? pour atteindr
* le
*
*
□bjectif ■financiers dAfinis dans le Plan, ^'action
conformAment A 1'annex® exposant le Plan d *, action.
19 iii - Qfe!£L, aIdL-kdJ1 iiunu
*)
(.. Sauf isi, la Barque f?n dticide aulretnc'i'il , 1 'Em-
pr un t c?ur dull s'askUrftr qut?, pour cheque ..-iriri»~c?
bndrjtM. uir e apres 1'ann&e budgetaire ue termi-
niml. Jr.- ‘Ji th'-Leoiki'e? le port de flanUi
mai i. t < t'nne v.ei;. operations t i nar.c i Le terms "total dets d£peneeu de
+ citetj onnement11 sigrii-fie tout.es les
ddcpensess relatives £ la realisation du
{ic.tr t de Santo, y campris la gestion,
1 ‘ erd.reLi &n appr opr 1 d» et la perte de?
valeur des avoirs. Cette ports de va.let.tr
det:-, avoirs stva caJculSe conf or moment aux
dispositions du Pl an d’action.
Ciii ) 1 ..
II1 . AUTRES QUESTIONS DE FQNCTIONNEMENT
L■ Ac qu.i e i L i. on d ' i nimeujo I es
L'Emprunteur doit s'assurer que touts terre, d-oits
sur lies terresj et aukres droits et privileges
*L.3
n£cee j. rea au Projet, •Acint. acquis dans less, meilleurs
d£l ai s ou aixordfcs, aut. r enient afin tl ' &v j ter tout
retard deuTi 1 >v. mi'se
* eri oeuvre du Projet.
20Lw eervice de® Parte et dw Im Marina ®»t r Mponobh
du bon fonetionnement tft d® *
1 ‘ wntri
Li en de*
i rtist al 1 »ti wb du ProJat, Sana *
prejudice de la
g&n&ral i I & das 1 ' ar t i c I ft 4 . 02 do la *?
present
(.'Gnvpnt.j on dw FrtH. , 1 'Eniprunteur doit mettre & 1&
d i ftpcm i t i on du service da® Porto »t da- la Marine, a.uYou can also read
