The Saeima has adopted and the President promulgated the following laws: For the Republic of Latvia and the European investment bank article 1 of the framework agreement. 24 July 1997 in Luxembourg signed the Republic of Latvia and the framework of the European investment bank (hereinafter referred to as the Treaty) this law is adopted and approved. 2. article. The law shall enter into force on the date of its promulgation. This law put a contract in English and its translation into Latvian language. 3. article. The agreement shall enter into force for the period specified in article 13 and in order, and on the Ministry of Foreign Affairs notified the newspaper "journal". The law adopted by the Parliament in 1997, 9 October. In place of the President the President of the Parliament Member a. in Riga America 1997 22 October European Investment Bank Framework Agreement between the Republic of Latvia and the European Investment Bank EIB activities Each in Latvia Luxembourg, 24 July 1997 made BETWEEN:-the Republic of Latvia, represented by H.. Mr. Juris Kanel, Ambassador Extraordinary and Plenipotentiary of the of the Republic of Latvia to the European Union (The Power of Attorney: Annex 1) of the first part, and the European Investment Bank having its Head Office at 100, boulevard Konrad Adenauer, L-2950 Luxembourg-Kirchberg, Grand Duchy of Luxembourg, represented by Mr. Wolfgang Roth, Vice President, hereinafter called: "the BANK" of the second part whereas: (menu Rngton Line4)., within the framework both of the Europe agreement between the European Community (hereinafter the "ECU") and the Republic of Latvia (hereinafter "Corporation") signed on 18 July 1994, and generally to facilitat the granting of loans by the European Investment Bank (hereinafter "the Bank") for investment projects of interest to the Corporation, and for that purpose to extend certain protection to such projects and to ensur a certain rights and privileges for the Bank. NOW THEREFORE it is hereby agreed as follows: article 1 Definition For the purpose of this agreement: "beneficiary" means any person, a natural person or a person whethers established under private or public law, receiving the benefit of financing provided by the Bank for any project, and includes a borrower from the Bank, a co-debtor, guarantor or an owner of a a project financed by the Bank; "project" means any investment project, which the Bank directly or through an intermediary finances, and which satisf to the following criteria: (i) it is located in, or its financing by the Bank is effected in or through the territory of Latvia, and (ii) the Government of Latvia requests the financing for it or that the financing of acknowledg falls within the scope of this agreement , where the Bank agree to the financing on a date after the date of entry into force of this agreement or expressly in the expectations of its execution or entry into force; "tax" means any tax, levy, duty, withholding imposition, or fiscal charge whatsoever, whethers national, regional or local. Article 2 the Bank ' s Activity the Bank may freely within the territory of the pursu Corporation the activities envisaged by its Statute, including the borrowing of funds under the law and regulations of the Corporation by means of all instruments permitted thereby. In particular it may, on the basis of its appraisal of a project, decide, and on what terms whethers and condition, you grant finance in support of it. Article 3 Taxation of Bank interest and all other payments due to the Bank and arising out of activities envisaged by this agreement, as well as the assets and revenue of the Bank connected with such activities , shall be the main from tax. From the activity of the Banks in the territory of Latvia in connection with any matter covered by this Agreement shall, of itself, render the Bank or its assets subject to tax. Article 4 Currency Convertibility Throughout the life of any financial operations concluded pursuan to article 2 of this agreement: (a) the CORPORATION shall: (i) ensur that may convert into a beneficiar in any fully convertible currency, at the prevailing market rate of Exchange on the due date, the non in the national currency of Latvia not cessary for the timely payment of all sum due to the Bank in respect of loans and guarantee in connection with any project; and (ii) that such will shall be freely, non immediately and effectively transferabl; (b): (i) ensur that the Bank may convert into any fully convertible currency, at such prevailing market exchange rate, the non in the national currency of Latvia received by the Bank by way of payments arising in respect of the loan and guarantee or any other activity and that the Bank may freely, immediately and effectively transfer the non so converted; or, at the Bank's option, (ii) that It may freely be dispos of such non within the territory of Latvia. Article 5 treatment of projects Corporation shall ensur that projects financed by the Bank to this pursuan agreement, as well as contracts awarded for the execution thereof, benefit, in respect of fiscal, customs and other matters, from treatment of less favorable than that which is accorded to projects or contracts financed by international financial institutions or any accorded under any bilateral agreement in respect of such matters or under national legislation , whichever is the most favorable. Latvia shall extend to each project full and constant protection and security against expropriation and insofar as is not the cessary strif of preserve the capacity of the project to generate income which is available to service the debt incurred in connection with the project. Article 6 Public Tendering the Bank may make its financing of projects conditional upon the arrangements for participation in tenders and other competitive procedures for the award of contracts being in accordanc with the Bank's rules and procedures in force from time to time. Article 7 the Bank status and treatment the Bank full juridical personality shall enjoy in the territory of Latvia, including in particular the capacity to contract, to acquir and dispos of movable and immovabl property and to be party to legal proceedings. The Bank shall enjoy in respect of its activities In the territory of Latvia the treatment accorded to the international institutions which is most favoured in respect of any such activity or, if that is more favourabl, the treatment accorded under any International agreement covering such activities. In particular, the Bank shall have free access to the national financial market in Latvia, and its obligation and shall be treated on the securities terms, including terms as to their tax treatment, at least as those accorded it a favourabl as public bodies of Latvia, including the State, and the most favoured international financial institutions. Article 8 Banking Privilege and to the Immunit assets of the Bank shall be to: (a) from main search and all forms of expropriation; (b) from the levy or imposition of any measure of execution or distrain the prior to the award of a final judgement against the unappealabl, the Bank, rendered by a Court of competent jurisdiction to be. Representatives of the Bank, while they are engaged in activities connected with or in the implementation of this agreement, shall enjoy at least the following immunit and privilege: (a) immunity from legal and administrative proceedings in respect of acts performed by them in their official capacity, except in cases where the Bank of such immunity waiv; (b) diplomatic privileges and facilities accorded by Latvia far official communications, for the transmission of documents and travel. Article 9 settlement of Dispute over Financing the Bank of Latvia in respect of undertak, any dispute arising between the Bank and a beneficiary regarding the financing of a project: (I) to ensur that the courts of Latvia have the authority of a final decision the recognis delivered by due process by a court or tribunal of competent jurisdiction to be, including the Court of Justice of the European communities or any national court of a member State of the EC; and (ii) the execution of ensur it any such decision in accordanc with its applicable national rules and procedures. For the purpose of this article 9, the term "project ' includes a project financed by the Bank, pursuan to the framework agreement between Latvia and the Bank dated 13 October 1993 article 10 Subrogation the rights conferred on the Bank by this agreement may be enjoyed and exercised by the Bank (i) both in its own name and, to the exten the that the EC has made a payment to the Bank in respect of any guarantee or insurance concerning any loan It concluded this agreement pursuan, as representatives of the EC, or (ii) as the case may be, by the ECU itself by virtue of a right of subrogation. Article 11 Co-operation to keep the undertak-Bank in a timely manner of any measure or proposed measure on it on, or of any others, such as may be circumstanc reasonably expected to be materially affec the rights and interests of the Bank under this agreement. Article 12 settlement of the Dispute over this agreement Any dispute, controversy or claim disagreemen, together referred to as a "dispute") arising in connection with the validity, interpretation, existenc, implementation or termination of this Agreement shall to the exten to possible be settled by agreement between Latvia and the Bank. If the dispute cannot be settled amicably by Latvia and the Bank within 60 days of the notification of the dispute by either of those parties, the dispute shall be submitted by either party for a final and binding decision of the Court of Justice of the European communities. The submission of a dispute to that Court does not imply the waiver by either party of any privilege or right of Immunity from execution under applicable law. Article 13 Entry into force this Agreement shall enter into force upon the day following the date on which the Bank confirm to the Government of Latvia in the receipt of a certified copy of the latter's instrument of ratification or other mutually agreed instrument between Latvia and the Bank, as well as of a legal opinion to the Bank s acceptabl to the legal force of this agreement. Article 14 Expiry the Bank may by notice to Corporation release it from all or any of its obligations under this agreement. Unless otherwise stated, by the giving of any such notice shall not be affec the rights and interests acquired by the Bank in respect of projects and financial operations of the outstanding data of the notice. Article 15 address for communications the parties agree that any communications arising in the course of the operation of this agreement may be addressed to the address of their respectiv set out as follows:-FOR Latvia: Ministry of finance 1 Smils str. Riga LV-Latvia-1919 FOR the BANK: 100, boulevard Konrad Adenauer L-2950 Luxembourg Telex: 3530-BNKE LU IN WITNESS WHEREOF the parties have caused the heret this contract to be executed in three originals in the English language. This Framework Agreement has been initialled on behalf of the Republic of Latvia and on behalf of the by the BANK by Mr. Hans-Jurgen Seeliger, Head of Division.
Signed for and on behalf and on behalf of Signed for the Republic of Latvia of the European Investment Bank j. Kanel w. Roth this 24th day of July 1997, at Luxembourg, the framework agreement between the Republic of Latvia and the European investment bank EIB activity in the regulation of the contract in Latvia, the Republic of Latvia, of the one part, and the European investment bank, on the other hand, on the basis of desire, both within the framework of the Europe agreement concluded between the European Community (hereinafter referred to as ' the EC ') and the Republic of Latvia (hereinafter referred to as ' Latvia ') of 12 June 1995 and in General facilitate the granting of loans from the European Investment Bank (the "Bank") for investment projects that Latvia is interested in, as well as with the purpose to provide a certain protection to such projects and to provide the Bank with certain rights and privileges, have agreed as follows: article 1 the term "this agreement loan recipient" means any natural or According to the law, a private or public entity that receives funding from the Bank of any type of project, and covers the borrower from the Bank, the person who entered into the part of the debt, the guarantor or the Bank financed the project owner; "project" means any investment project financed by the Bank directly or through an intermediary and who meet the following criteria: (i) it is, or its financing from the Bank side going on the territory of Latvia or through it, and (ii) asked the Latvian Government to grant it funding or recognize that funding meets the confines of this agreement, the Bank has agreed to provide financing after the date of entry into force of the Treaty, or to clearly express their consent during the When the realization of the agreement or the entry into force is pending; "tax" means any tax, levy, duty, imposed, allowance or fee budget for all national, regional or local level. Article 2 the Bank of Latvia, the Bank may take the action provided for in the Statute, including borrowing under the Latvian law or rules, using all the tools that the law allows. Accordingly, the Bank may, on the basis of its assessment of the project, to decide whether to grant funding to support this project and on what conditions to do so. Article 3 taxes the interest or other payments due to the Bank and which result from the activities provided for in this agreement, as well as the Bank's assets (assets/funds) and the revenue associated with these activities, are not taxed. No Bank transaction in Latvia itself or in connection with any matter affected in this agreement does not give the right to impose taxes for the Bank or its property. Article 4 the currency convertibility of all time while you make a financial operation in accordance with article 2 of this agreement, (a) provide: (I) to the amount of the Latvian National currency needed to tap into the Bank to carry out for the benefit of any project issued loans and guarantees, loan recipients will be able to convert any fully convertible currency on the day of payment at the market rate; and (ii) to be free of this amount, immediately and effectively transfer; (b) provide: (I) to the amount that the Bank gets the Latvian National currency as payment for loans and guarantees or other type of activity, the Bank may convert completely convertible currency at the market rate, and so the Bank can make free, instantly and effectively transfer these converted amounts; After the election of the Bank, or (ii) to be free to handle these amounts in the territory of Latvia. Article 5 project status in Latvia will ensure that projects financed by the Bank under this agreement, as well as contract, closed projects, from the fiscal, customs and other opinions would be granted no less favourable status as projects or contracts funded by any international financial institution or accorded in such cases in accordance with any bilateral agreements or in accordance with national legislation , depending on where conditions are more favourable. Each project will offer full LATVIA and constant protection and security, to prevent confiscation (forfeiture) and conflicts (disputes), in so far as it is necessary to maintain the ability to project the income that allows you to service the debt resulting from the project. 6. Article openly contests the Bank may sometimes impose the condition that it be granted funding for the project in such a case, if the contract will be distributed through competitions or otherwise determining the winners, according to the Bank's rules and procedures. Article 7 status of the Bank, the Bank of Latvia will have a full legal person among others have the right to conclude contracts for movable and immovable assets, buy and sell, and be a party to legal proceedings. In carrying out its activities in the territory of Latvia, the Bank will have the status of international institutions with the most labvēlīgākaji conditions that are applied to this type of action, or, if the conditions are more favourable in this case, the status given to international agreements on this type of activity. The Bank will have free access to the domestic financial market in Latvia, and the conditions that will be applied in relation to its commitments and securities, including tax-related issues, will be at least as favourable as the conditions that should apply to the Latvian State institutions, including the National and international financial institutions that enjoy the most favoured nation status. Article 8 privileges and immunities of the Bank Bank assets does not admit: (a) boarding and confiscation of any kind; (b) the fees, any grade or limit the imposition of the fine until the final and conclusive judgment to the Bank is not given a Court of competent jurisdiction (legislative) framework. Bank representatives at a time when they are carried out with the agreement relating to the implementation of activities, enjoy at least the following immunities and privileges: (a) they are not legally or administratively punished in connection with the transactions carried out by them in their official capacity, except when the Bank removes this immunity; (b) diplomatic privileges and incentives granted by Latvia concerning official communication, for the document exchange (dissemination) and travel. Article 9 With Bank financing-related disputes in the event of any dispute arising between the Bank and the beneficiary of the loan for the financing of the project, Latvia undertakes: (I) ensure that the Latvian courts have the power to declare a final judgment that the process gave a competent court or Tribunal, including the European Community Court, an EC Member State or of any national court; and (ii) to provide any such enforcement under applicable national rules and procedures. in the framework of article 9 the term "project" includes the project, financed by the Bank in accordance with the 13 October 1993, the roof of the Treaty between Latvia and the Bank. Article 10 right of Action (Subrogation) rights granted in this agreement, the Bank can enjoy and realize (I) Bank on its own behalf, and when EC's cost for a Bank guarantee or insurance operation in connection with the loan, which was based on this contract, as the EC representative, or (ii) the EC itself, on the basis of their claim to the right of the transfer. Article 11 cooperation LATVIA undertakes to inform the Bank about any measures or proposals for measures from their side, or any other circumstances when it is possible to predict that they could significantly affect this agreement defined the rights and interests of the Bank. Article 12 this agreement related to the dispute settlement any dispute, disagreement or claim (kopapzīmējum "dispute") arising in connection with this contract, existence, interpretation, validity, or termination of the sales, as far as possible, be adjusted to achieve agreement between Latvia and the Bank. If Latvia and the Bank, a friendly agreement, unable to settle the dispute within 60 days, since one of these two parties have received notice of the dispute, one of the parties to the dispute turns the question to the Court of the European communities, for a final and binding judgment. The issue in dispute in this Court filing does not mean that either party can be suspended or the immunities privileges that protect the rights of judgment in the case. Article 13 entry into force of the Treaty this Treaty shall enter into force on the day following that on which the Bank is approved by the Latvian Government confirmed that it has received a copy of the instrument of ratification in Latvia or other instrument, for which Latvia and the Bank have agreed, as well as a copy of a Bank acceptable legal expertise on the validity of this agreement. Article 14 termination (expiry) by notifying the Bank in Latvia, LATVIA may be released from all obligations under this agreement. Unless otherwise specified, the following notice does not affect the interests and rights of the Bank, which the Bank acquired in respect of projects and financial operations, which have not been completed on the date of notification. Article 15 addresses of the parties, the parties have agreed that any kind of communication resulting from this contract, can be performed using the following addresses of both parties: Latvia: Ministry of Finance of sand Street 1, Riga LV-1919 Latvia BANK: 100, Konrad Adenauer Blvd. L-2950 Luxembourg declares that the undersigned above, persons who have received powers for this purpose, this Treaty was signed by the two original copies in the English language.
The Republic of Latvia to the European investment bank j. Kanel w. Roth