PRESTAM CONTRACTS

Decree 595/97

Apply the model of the Loan Contract to be signed with the Inter-American Development Bank, for the Port Modernization Program.

Bs. As., 1/7/97

B.O: 14/7/97

VISTO the model of Loan Contract No. 962/OC-AR proposed to be signed between the ARGENTINA NATION and the INTER-AMERICAN DEVELOPMENT BANCO in the amount of up to DOLORES STADOUNIDENS SCIENT CUATRO MILLONES (U$S 104,000.000.-) for the implementation of the PORTUARY MODERNIZATION PROGRAM, and

CONSIDERING:

That, through the aforementioned Contract of Loan, the INTER-AMERICAN B'ANCO for Development, is involved with the ARGENTINA NATION in the financing of the PORTUARY MODERNIZATION PROGRAMME to be implemented at the SUB-ECRETARIA DE PUERTOS and NAVEGABLE VIAS of the SECRETARIA DE ENERGIA and PUERTOS of the MINISTERIO

That the PORTUARY MODERNIZATION PROGRAMME to which resources are allocated is intended to contribute to the reduction of transport costs in foreign trade by increasing the efficiency of the port sector, using modern concepts of transport and logistics, including the need for greater safety and environmental protection.

That the implementation of the activities envisaged in the PORTUARY MODERNIZATION PROGRAMME requires the subscription of Subsidiary Benefit Contracts with the provinces that adhere to it.

That the general conditions, the periods of amortization, interest rates and other clauses contained in the proposed contract to be subscribed are the usual that are agreed upon in this type of contract and are appropriate to the purposes and objectives to which the loan is intended.

That the implementation of the PORTUARY MODERNIZATION PROGRAMME requires the creation of the COORDINARY UNITY OF THE PROGRAMME (UCP) as well as the recruitment of experts and the acquisition of goods, which is expressly contained in clause 3.02 of the Special Stimulations of the Loan Contract to be signed between the ARGENTINA NATION and the INTER-AMERICAN BANCOL.

That the formalization of this operation requires that the ARGENTINA NATION, through the MINISTERY of ECONOMY AND ARTWORKS and PUBLIC SERVICES, subscribe to the Préstamus contract for the PORTUARY MODERNIZATION PROGRAMME.

That the contract proposed to be signed is covered by Article 60 in fine of the Financial Administration Act No. 24.156 and the National Public Sector Control Systems.

That in accordance with Article 99 (1) of the NATIONAL CONSTITUTION and Article 16 of Law No. 11.672 of the Permanent Supplementary Budget (T.O. 1996), the NATIONAL EXECUTIVE POWER is empowered to approve operations of this nature and subject any disputes to the decision of the Arbitrary Tribunals.

That's why.

THE PRESIDENT OF THE ARGENTINA NATION

RIGHT:

Article 1Apply the model of the Loan Contract No. 962/OC-AR for the PORTUARY MODERNIZATION PROGRAMME which consists of SIETE (7) Chapters and VEINTICUATRO (24) Clauses and their Annexes A, B and C, to subscribe between the ARGENTINA NATION and the INTER-MERICAN BANCO for a total amount of up to DOLA000. The text of the Prest Contract model in authenticated copy is an integral part of this Decree as Annex I, as listed as Annex II, the General Regulations Applicable to the Contracts for the Loan of the INTERAMERICAN DEVELOPMENT BANCO, consisting of NUEVE (9) chapters and HQ (48) articles.

Art. 2o-Please refer to the Minister of Economics and Public Works and Services or to the official or officials designated by him to sign, on behalf of and representation of the ARGENTINA NATION, the Loan Contract and all the documentation relating thereto, in accordance with the model approved by Article 1 of this Decree.

Art. 3o-Please refer to the Minister of Economics and Public Works and Services or to the official or officials designated by him, to agree and subscribe, on behalf of and representation of the ARGENTINA NATION, modifications to the Loan Contract whose model is approved by Article 1 of this decree, provided that the same does not constitute substantial changes to the object and destination of the loan, or result in an increase in the amount or modification of the loan.

Art. 4o-See the Masters Secretary of Energy and Ports and Secretary of Finance of the MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICOS, jointly; or to the staff member or officials who each designate, to subscribe Subsidiary Benefits Agreements with each of the Provincial Jurisdictions adhering to the program.

Art. 5o-Please refer to the SUB-ECRETARIA DE PUERTS AND NAVEGABLE VIAS of the SECRETARIAT OF ENERGY AND PUERTS of the MINISTERY OF ECONOMY AND PUBLIC ARTWS and SERVICES, as executor of the PORTUARY MODERNIZATION PROGRAM.

Art. 6o-Trust the scope of the SUB-ECRETARIA DE PUERTS AND NAVEGABLE VIA of the SECRETARIAT OF ENERGY AND PUERTS of the MINISTERY OF ECONOMY AND PUBLIC ARTWS AND SERVICES, the COORDINARY UNITY OF THE PROGRAMME (UCP) PORTUARY MODERNIZATION, which will be responsible for its implementation and the administration of the funds allocated to it.

Art. 7o-Please refer to the Undersecretary of Ports and Vías Navegables to hold, within the framework of the PORTUARY MODERNIZATION PROGRAMME referred to in Article 6 of this Decree, whether or not to delegate to another official or officials that the same designation, the execution of contracts of construction and services with third parties, without relation of dependence, consulting and/or technical advice, as well as the purchase of the goods of furniture.

Art. 8o-Contact, post, give to the National Directorate of the Official Register and archívese.-MENEM.-Jorge A. Rodríguez.-Roque B. Fernández.

NOTE This Decree is published without Annexes, unpublished documentation can be consulted at the Central Headquarters of the Official Gazette (Suipacha 767 - Capital Federal).