LAW No. 57 of 1 august 1991 ratification of the loan agreement between Romania and the International Bank for reconstruction and development published in PARLIAMENT ISSUING the OFFICIAL GAZETTE NR. 168 of 15 august 1991, the Romanian Parliament adopts this law.
Ratify the loan agreement between Romania and the International Bank for reconstruction and development, worth 180 million u.s. dollars concluded in Washington S.U.A. on 3 July 1991.
This law was adopted by the Assembly of deputies at its meeting on 31 July 1991.
p. ROMAN ASSEMBLY of DEPUTIES PRESIDENT IDRIS this law was adopted by the Senate at its meeting on 31 July 1991.
p. SENATE PRESIDENT VASILE MOIŞ pursuant to article 4. 82 lit. m) of Decree-Law No. 92/1990 to elect the Parliament and President, promulgăm law on ratifying loan agreement between Romania and the International Bank for reconstruction and development and we have its publication in the Official Gazette of Romania.
ROMANIAN PRESIDENT ION ILIESCU LOAN AGREEMENT (technical assistance project and critical loans) between Romania and the International Bank for reconstruction and development agreement, dated July 3, 1991, between Romania (Borrower) and the International Bank for reconstruction and development (the Bank).
Since (A): the borrower being satisfied with feasibility and priority project, as described in annex 2 of the agreement, called on the Bank to help in financing the project;
Since (B): the borrower intends to contract from the European Investment Bank (EIB) loan in amount 17.4 million u.s. dollars equivalent to help finance part of the project, (2) the terms and conditions described in an agreement (the loan agreement the EIB) to be concluded between the borrower and the EIB; and (C): as the Bank was agreed, taking into account the above, to extend the loan to the Borrower under the terms and conditions described in this agreement;
In consequence, parts of the face, in this way, agree to the following: article 1 General terms and conditions. Section 1.01 definitions. "General conditions" applicable to loan and guarantee agreements of Bank 1.01.1985, with the modifications described below (terms and conditions) constitute an integral part of this agreement: (a) the last phrase of the section 3.02 are removed.
(b) in section 6.02, subparagraph (k) (1) and a new subparagraph (k) is added as follows: ' (k) an extraordinary situation will have emerged, according to which any further shooting in the context of the loan would be inconsistent with the provisions of art. III, section 3 of the Statute of the Bank. "
Section 1.02. If the context does not require a different approach, the terms defined in the "General conditions" have the respective meanings in this regard as they were described, and the following additional terms have the following meanings: (a) "Bank" means the Bank's agricultural Incomes and functionînd, established in accordance with decision Borrower No. 1196/12.11.1990;
(b) "Bucharest Metro system" means the system of underground transportation Bucharest of the borrower;
(c) "categories" means, each of the categories of items to be financed by the loan, as are described in table 1 of annex 1 to the agreement, and the term "category" means each of these categories;
(d) "commercial bank" means the Bank of the Borrower (Romanian commercial bank) established and functionînd according to the borrower's Decision nr. 1195/12.11.1990;
(e) "Convex"-S.A. company of the borrower's means for handling bulk terminal, established and functionînd according to the borrower's Decision nr. 19/10.01.1991;
(f) ' Contransimex ' means foreign trade company of the borrower for public works and technical consultancy services (engineering), established and functionînd according to the borrower's Decision nr. 93/31.1.1991;
(g) "Co-operative Bank" means the Bank Borrower Co-operative (Coop Bank) established and functionînd in accordance with the borrower's Decision nr. 992/3.11.1990;
(h) "Bank" means the Bank of development of the borrower (Romanian Bank for development) established and functionînd according to the borrower's Decision nr. 1178/2.11.1990;
(i) "fiscal year" means the 12-month period conforming to any of the Borrower's tax years, the period beginning on January 1 and ends on December 31 of the calendar year concerned;
(j) "Rate of interbank market" means the rate of exchange of the Leu in convertible currency (as it is defined below) as determined periodically in accordance with the provisions of law No. Borrower 15/1990;
(k) "lion" means the monetary unit of the borrower and "lei" signifies the plural term "lion";
(l) "MOA" means Ministry of agriculture and food industry of the borrower;
(m) "MEF" means Ministry of economy and Finance of the borrower;
(n) "soft" means the Ministry of industry of the borrower;
(a) "MOLSP" means the Ministry of labour and social security of the borrower;
(p) "TURN" means the National Privatization Agency of the borrower, and the borrower's functionînd on the basis of Decision No. 823/25.07.1990;
(q) "NCS" means the National Commission for Statistics of the borrower, and functionînd in accordance with the borrower's Decision nr. 27/30.12.1990;
(r) "participation agreements" means, in a group, each of the agreements for the participation of the banks, to be entered into between the borrower and the participating banks (as that term is defined below) in accordance with section 3.02 (b) and part (B) of annex 7 to the agreement and the term "participation agreement" means each of the agreements;
(s) "means the participating Banks ' agricultural Bank and the Romanian Development Bank, and the term" Bank participant "means any of the participating banks;
(t) "SHELL OIL" means oil of autonomous Regia of the borrower, and functionînd established in accordance with decision Borrower No. 23/30.01.1991;
(u) "PIU" means the project implementation team, set up within the Ministry of economy and finance in accordance with the Minister's Order No. 233/15.04.1991;
(v) "RAL" means an autonomous Regia of lignite to the borrower, and functionînd in accordance with the borrower's Decision nr. 1211/2.11.1990;
(w) "LEO" means an autonomous electricity Directed to the borrower, and functionînd in accordance with the borrower's Decision nr. 1199/2.11.1990;
(x) "N/A" means an autonomous gas Directed to the borrower, and functionînd in accordance with the borrower's Decision nr. 16/10.01.1990;
(y) "ROMAGRIMEX" means foreign trade company for agriculture to the borrower, and functionînd in accordance with the borrower's Decision nr. 69/26.01.1990;
(z) "ROM-POST-TELECOM" means Telecommunications Administration for post and the Borrower, and functionînd in accordance with the borrower's Decision nr. 30.07.1990/883;
(aa) The "Banca de Economii" means House of savings and the borrower, Consemnaţiuni founded functionînd and Borrower under Decree No. 371/1958;
(bb) "SOCEP"-S.A. commercial operations means General firm handling and containerizare and functionînd, established in accordance with the borrower's Decision nr. 19/10.01.1990;
(cc) "loan agreement" means each subsidiary of a subsidiary loan agreements to be entered into between the borrower and the implementing agencies (as the term is defined below) in accordance with section 3.02 (a) of part A of annex 7 to the agreement and the term "loan agreement" means each subsidiary of the subimprumut;
(dd) "subimprumuturi" means the proposed loans to be made by the borrower to the implementing agencies (as the term is defined below) for the achievement of the respective component of the project, in accordance with the terms and conditions of the loan agreement, and the term "alternative subimprumut" means any of the subimprumuturi;
(ee) "implementing agencies" means the agencies, businesses and other entities to which the borrower referred to in subparagraphs (b), (e), (f), paragraphs (a) to (q), (t), subparagraphs (v) to (x) and (bb) of this section, and the term "implementing agency" means any one of the implementing agencies;
(ff) "that project component" means the following: Bucharest METRO, part (4) (b) of the project; Convex, S.A., part of the (4) (c) of the project; CONTRANSIMEX, part (4) (a) of the project; MOLSP, part B (8); Turner, part B (2); NCS, part C (2); PETROM, parts A (1) (a) and (B) (5) (b) (him or her) and (iii) of the project; RAL, parts A and B (3) (7) of the project; RENEL, part (2) of the project: N/A, part A (1) (b) of the project: ROMAGRIMEX, part A (7): ROM-POST-TELECOM, part (5) project and SOCEP S.A.-part (4) (c) of the project; and (gg) "special account" means any of the accounts referred to in section 2.02 (b) of this agreement, and the term "special accounts" means all of the above accounts.
Article 2 the loan Section 2.01. The Bank agrees to lend the borrower, terms and conditions displayed or referred to in this agreement, in different currencies, which will have a total value of approved echivalind with the amount of 180 million dollars, this was total drawdowns under the loan, each shot as the date of its being established by the Bank.
Section 2.02. (a) the amount of the loan can be drawn from the loan account in accordance with the provisions of annex 1 to this agreement for expenses incurred (or, if the Bank agrees, for the deposit to be made) on the basis of reasonable storage costs of products and services required for the project as described in annex 2 to this agreement and to be financed through borrowing.
(b) For the purposes of the project, the borrower shall open and maintain a deposit account in dollars and a special deposit account in German marks, in banks approved by the Bank and the terms and conditions satisfactory to the Bank, including adequate protection in the event of damage to the confiscation or seizure. Making deposits or payments from the accounts/special will be made in accordance with the provisions of annex 6 to this agreement.
Section 2.03. The closing date will be 31 December 1994 or a later date that the Bank will establish. The Bank will notify you promptly on this later date Borrowed about.
Section 2.04. The borrower will pay the Bank a fee of 0.75% utilization per annum on the amount in the netrasa loan periodically.
Section 2.05. () Borrower will pay interest on the portion of the loan drawn and non-refundable amounts at regular intervals, at a rate equal to each interest period, the cost of borrowing, as determined in the preceding account, plus 0.5%. At each of the particulars specified in section 2.06 of the agreement, the borrower will pay interest accumulated unused capital during previous interest calculated at the rate applicable in the course of such interest period.
(b) as soon as possible after the end of each semester, the Bank shall notify the borrower the cost of loans qualifying for that semester.
(c) For the purposes of this section: (i) "interest period" means a period of six months ending on the date immediately prior to each date specified in section 2.06 of the agreement, beginning with the period of interest in which this agreement is signed;
(them) "the cost of qualifying loans" means cost, as reasonably determined by the Bank and expressed as an annual percentage of the loans, the Bank nelichidate drawn after 30.07.1982, excluding those portions of loans or loans on which the Bank has it allocated for financing: (A) Investment Bank and (B) of the loans which may be made by the Bank after holding interest rates 1.07.1989 determined otherwise than under paragraph (a) of this section;
(iii) "semester" means the first 6 months or 6 months of the following calendar year.
(d) At a time that a Bank will communicate to the borrower, but subsequently not less than 6 months, subparagraphs (a), (b) and (c) (iii) of this section shall be amended as follows: "(a) the borrower will pay interest on the portion of the loan drawn and non-refundable amounts at regular intervals, at a rate for each quarter is equal to the cost of qualifying loans determined for the preceding quarter plus 0.50%. At each of the particulars specified in section 2.06 of the agreement, the borrower will pay cumulative interest for the non-refundable amounts during the period preceding the interest, calculated at the rates applicable during such periods of interest. "
"(b) as soon as possible after the end of each quarter, the Bank will inform the borrower about the cost of loans qualifying for such quarter."
"(c) (iii)" quarter "means a period of three months starting January 1, April 1, July 1 and October 1 of each calendar year."
Section 2.06. Interest and other fees will be paid quarterly on 15 March and 15 September of each year. Section 2.07. The borrower will repay the loan in accordance with the depreciation schedule set out in annex 3 to the agreement.
Article 3 implementation of the project Section 3.01. () Borrower declaring their commitment or project objectives as were set out in annex 2 to the agreement and, to this end, will lead to good end or will cause the project to be carried out with due care and attention and efficiency in accordance with proper practices, technical, financial or administrative action and will provide the funds, goods, services, facilities and other resources of the project.
(b) without limiting the provisions of paragraph (a) of this section and except for the cases when the borrower and the Bank shall otherwise agree, the borrower will be achieved or will cause to carry out the project in accordance with the implementation Schedule laid down in annex 5 to this agreement.
Section 3.02. () Borrower will make a portion of the loan funds by the implementing agencies in order to achieve their respective components of the project, through the subsidiary loan agreements concluded on terms and conditions that comply with the Bank, including, among others, the main terms and conditions laid down in part A of annex 7 to the agreement.
(b) for the purpose of administering the implementation of the loan agreements and subsidiary supervizarii, the borrower shall conclude agreements with the participating banks, in terms of satisfying the Bank, including, among other things, the terms and conditions set out in part B of annex 7 to this agreement.
(c) without any kind of limitation or restriction to the provisions of annex 7 to the agreement, the borrower shall exercise their rights and meet their obligations decurgind from each of the subsidiary loan agreements and participation agreements in such a way that to protect its own interests and those of the Bank and to meet the goals of the loan and, unless the Bank would give express consent I don't agree, as Borrower, vary, revoke or relinquish none of subsidiary loan agreements or participation, or to any of the provisions of these agreements.
Section 3.03. () Borrower will proceed as follows: (i) the Bank shall submit, not later than 31 December 1992, to analyse and comment, a plan of action based on the recommendations of the study on the cost and energy prices to which reference is made in section B (4) (b) (i) of the project, with the aim, inter alia, to reconsider the structure of the energy sector or prices; and (them) immediately after that will bring to fruition the plan with due attention and efficiency, taking into account the comments of the Bank on its base.
(b) until 31 January 1993, the borrower will be sent to the Bank for the analysis and comment an action plan based on the term of reference that must be approved by the Bank for-among others-the immediate improvement of the economic and financial viability of RAL (including, but without limiting, restructuring or closure of the lignite mines and measures concerning increased production from surface mines generating low costs and reducing production in the case of underground mines neeficiente) as for the demand for the rehabilitation of two lignite power plants of Rovinari and Borrower located at Quezon City.
(c) the borrower: (i) not later than 1 September 1992, on the basis of the conclusions and recommendations of the first phase of the irrigation sector study, mentioned in section B (5) of the project will be presented to the Bank and immediate priority investment commentary and proposed short-term Loan for irrigation or sector; (them) not later than 1 august 1993, on the basis of the conclusions and recommendations of the second and third phases of the study, will present to the Bank and investment programs on comment five (5) and ten (10) years for the sector or irrigation, that will be the extent and details of which the Bank will ask them reasonably.
Section 3.04. The borrower, until the completion of the project, will maintain or PAJARDO will take care to maintain in such form and with such a structure and functions (including, but not limited to, those listed in paragraph A of annex 5 to this Agreement) of the terms of reference approved by the Bank in its entirety.
Section 3.05. Before you begin the purchase of any goods from those set out in part 4 (a) of the project, the borrower shall establish a system for the sale by tender referred to internal competitive goods, according to the Bank's requirements, which should ensure, inter alia, that: (i) each of the said assets will be bought by the successful tenderer/tenderers the most advantageous, on the basis of a competitive bidding process , publicly announced; () bids shall be submitted in sealed envelopes and will be the price and the quantity offered; (iii) opening the envelopes (tenders) to be held in public and in the presence of licitatorilor who want to participate; (iv) will not be awarded unless the price offered is at least equal to the equivalent in lei of the C.I.F. cost, goods valued at the lowest rate on the interbank market in the last thirty (30) days prior to the public announcement.
Section 3.06. (a) Not later than 31 august 1992, the borrower will consider and will exchange views with the Bank with respect to the following: (i) the portfolio of investment projects, including unfinished, of the borrower, in order to determine, among other things, the future funding of projects; (them) on the basis of the conclusions and recommendations resulting from the analysis in paragraph (i) above, the proposed investment and financing plans at the Borrower's public investments to be financed by Government agencies or semiautonome during the year 1993.
b) as soon as possible after the analysis provided for in sub-paragraph (a) () of this section, the borrower will put into practice the investment programmes, with appropriate attention and efficiency, taking into account the comments and opinions of the Bank.
Section 3.07. Besides the case when the Bank will agree otherwise, the purchase of goods and services required advisory and project to be financed from the proceeds of the loan will be subject to the provisions of annex 4 to this agreement.
Article 4 financial Clauses Section 4.01. () Borrower will you or will take care of keeping accounting records and loan in separate accounts to reflect, in accordance with the accounting practices enshrined, operations, resources and expenses relating to the project implementation agencies and departments, agencies and other entities of the borrower responsible for carrying out the project or any part thereof.
(b) the borrower: (i) keep records and accounts referred to in paragraph (a) of this section, including those for special accounts each financial year audited, in accordance with accounting principles consistently applied expertise of independent accounting experts approved by the Bank;
(them) The borrower will make available to the Bank as soon as it is available, but in any event not later than six (6) months after the expiration of such year, the report on the accounting expertise made the experts call on the coverage and the details required by the Bank;
(iii) the borrower will make available to the Bank any information concerning the records and accounts referred to their expertise, as well as the Bank will be required periodically.
(c) For all expenses for which were made at the expense of loan drawdown, on the basis of supporting documents, subject to: (i) will, in accordance with paragraph (a) of this section, records and accounts reflecting such expenditure; (them) will keep for at least another year after the Bank has received the report of the expert accountant for the financial year in which they made the last shooting from loan or payment from the special accounts, all documents (contracts, orders, invoices, receipts and other documents) which outlines expenditure; (iii) will permit the Bank to examine these representatives; (iv) ensure that such records and accounts to be included in the annual expertise referred to in paragraph (b) of this section and the report on this expertise to include a separate point of view of experts referred to, over whether the statements of expenditure submitted by the borrower in the course of the financial year, as well as internal checks and procedures connected with their preparation, can guarantee the accuracy of firing to which it refers.
Article 5 of the Bank's Penalties Section 5.01. In addition to the provisions of section 6.02 of the "General conditions" shall include the following additional situation, namely: (a) the loan agreement with the EIB to become effective until December 31, 1991 or at a later date agreed to by the Bank; However, the provisions of this paragraph shall not apply if the borrower establishes, in accordance with the Bank's requirements for carrying out the project, as there are funds available from other sources on terms and conditions consistent with obligations of the borrower in this agreement;
(b) (i) subject to the provisions of sub-paragraph (them) of this paragraph: (A) the right of a borrower to make withdrawals from the EIB loan would be suspended, cancelled or finished, wholly or partly, in accordance with the terms of the loan agreement with the EIB;
or (B) the loan payable to the EIB would become due earlier agreed by the loan agreement;
(them) Sub-paragraph (i) of this subparagraph (b) shall not apply if the borrower establishes, in accordance with the Bank's requirements, such as: (A) suspension, termination, cancellation or premature termination is not caused by the inability of the borrower to perform any of its obligations under the loan agreement the EIB; (B) adequate funds for the implementation of the project are available from other sources, in comparable terms and conditions Borrower obligations decurgind from this agreement.
Section 5.02. In accordance with the provisions of section 7.01 (h), of the "General conditions", specify the following additional situation, namely that the circumstance referred to in paragraph (b) (i) (B) of section 5.01 of this agreement may occur, subject to the provision of paragraph (b) () of this section.
Article 6 Entry into force. Termination Section 6.01. The following situations are considered additional conditions for the entry into force of this agreement, within the meaning of section 12.01. (c) of the "General conditions" means (a) the borrower to have completed at least two subsidiary loan agreements, approved by the Bank in order to achieve the project or any part thereof;
(b) that the borrower have concluded agreements, approved by the Bank, with each administrative banks; and (c) that the borrower have opened special accounts in the terms and conditions agreed upon by the Bank.
Section 6.02. The following situation is specified as an additional problem for the purposes of section 12.02. (c) of the "General conditions", will be included in the opinion or opinions provided by an approved Bank Bank, namely that each of the subsidiary loan agreements and participation referred to in subparagraphs (a) and (b) of section 6.01. above have been legalized under the procedure, or ratified and signed and transmitted on behalf of the parties mentioned and also the parties to be bound legally to it in accordance with the terms of the agreement.
Section 6.03. The date ninety (90) days after the date the agreement is specified for purposes of section 12.04 of the "General conditions".
Article 7 the representative of borrower. Addresses Section 7.01. Ministry of economy and Finance of the borrower is named as representative of the borrower for the purposes of section 11.03 of the "General conditions".
Section 7.02. The following addresses are specified for the purposes of section 11.01. in the "General conditions": For: Ministry of economy and Loan Finance, str. Doamnei nr. Bucharest-Romania 8, telegraphic and Telex Address: 11,239 MINFIN For Bank: International Bank for reconstruction and development, 1818 H Street, w.
Washington, D.C. 20433 U.S.A.
Telegraphic address: Telex INTBAFRAD 248423 (RCA) Washington D.C. 82987 (FTCC) 64145 (WUI) or 197688 (TRT) for the certification of those above, the Parties present, through authorized representatives according to the procedure, have agreed that the agreement should be signed on behalf of the U.S.A., the District of Colombia on the day and year referred to the beginning of the agreement.
ROMANIA, through authorised representative BIRD, by regional Vice President for Central and Eastern Europe and North Africa for Annex 1 Goaltender from loan 1. The table below indicates the categories of projects financed by the sums received, allocation of amounts from each loan category and the percentage of expenditure financed for the objectives in each category: Category amount allocated ($)% of expenditure to be financed 1.
Imports of spare parts and equipment expenses 100% (a) (i) part A (1) (i) (ii) project 26,000,000 part (1) (ii) of 9,000,000 project (b) part (2) of the 22,800,000 project (c) (3) part of the 26,600,000 project (d) part A (4) of the project: (i) part A (4) (i) 26,800,000 (ii) part (4) (ii) (iii) 2,600,000 part (4) (iii) (iv) 1,700,000 part (4) (iv) 3,900,000 (e) part A (5) of the project (6,800 000 f) part (6) 15,900,000 project (g) part 7 of 7,000,000 2 project.
Training and advisory services 100% of costs (a) part B (1) of the draft 400,000 (b) part B (2) of the draft 1,000,000 (c) part B (3) of the draft 1,400,000 (d) part B (4) 2,000,000 project (s), section B (5) of 3,800,000 project (f) part B (6) 2,700,000 project (g) part B (7) 900,000 project (h) part B (8) 3,600,000 project (i), part C (1) of the draft 2,600,000 (j) C (2) of the draft 3,000,000
(k) section C (3) of the draft 200,000 3.
The TOTAL amount allocated: 9,300,000 180,000,000 2. For the purposes of this annex, the term "foreign expenses" means those expenses made in any currency other than that of the borrower, for goods and services delivered on the territory of any country other than that of the borrower.
3. Making regardless of the provisions of paragraph 1, above: (i) there may be no drawdown in respect of payments made prior to the date of this agreement, except for firing in total not more than 18,000,000 $, which can be made in respect of categories 1; 2 (b); (2) (c); 2 (e); 2 (g); 2 (h); 2 (i) and (k) covering payments for various expenditures made prior to that date, but after May 1, 1991; (them) cannot make deposits into the special accounts, you cannot perform random and neither can conclude payment amounts for commitments for or on behalf of the borrower for expenses in category 1, except for category 1 (f), except in the event that the borrower: (A) a subsidiary loan agreement in accordance with the implementing Agency for the achievement of the respective component of the project in accordance with the provisions of section 3.02 and part (A) of annex 7 to this agreement; (B) presented satisfactory evidence for the Bank the Bank from a juridical body agreed by the Bank, meaning that the appendant loan agreement was legalized under the procedure or ratified and it was completed and sent in the name of the parts of the face, and the fact that the parties are legally bound to it in accordance with its conditions.
Annex 2-project description project objectives are: (a) supporting economic sectors production performance of the borrower by financing imports of vital spare parts and other goods; (b) the provision of technical assistance to support implementation of the programme of lent in the macroeconomic and sectoral reforms in progress.
The project consists of the following parts, being subject to possible revision on which the borrower and the Bank may agree from time to time, to accomplish the following objectives: part a: Imports of goods 1. The oil and gas sector: provision of mills, pumps and other equipment, spare parts and materials for the rehabilitation of approximately: (a) one thousand two hundred (1,200) oil wells and ninety (90) gazeifere wells.
2. Energy sector: supply of equipment, spare parts and materials adjacent to: (a) the rehabilitation of four (4) blocks of 330 MW, two (2) located in Quezon City and two (2) at Goose Creek;
(b) improvement of the system of protection (3) processing stations located at Tintareni, Filesti and Urecheşti;
(c) the improvement of operational safety of electricity distribution Centre in Bucharest and all regional centres for the distribution of electricity;
(d) improving the performance of electrostatic precipitatoarelor located at Quezon City;
(e) the provision of equipment and materials adjacent to the measurement of pollution and (f) the provision of computers and the adjacent materials.
3. mining of lignite Sector: supply of equipment, spare parts and materials adjacent to autonomous Regia of lignite coal, which feeds with the two (2) power plants at Rovinari and Turceni located.
4. The transport sector: provision of: (a) spare parts, tires and engines for buses and trucks; (b) safety equipment and control system for SUBWAY-Bucharest and (c) equipment, spare parts and auxiliary materials for sea port of Constanta, including forklifts, cranes, bulk carriers and equipment for containers, trucks with crane fork, parts for cranes and conveyor belts.
5. the Telecommunications Sector: provision of telecommunications cables, transmission equipment, spare parts, tools and other items measure that adjacent.
6. the irrigation Sector: provision of irrigation pumps, engines, spare parts and equipment and materials for improving the capacity of the pump: fifteen (15) irrigation systems; Franco-Sticleanu, SP Vitcovia; SIST. Conesti; SIST. Greek; SIST. Ialomita Mouth; Jegalia (SIST. Nigina); Dichiseni (Calarasi); -Calarasi; Fleetwood (Brăila); SIST. Galaţi (Gimia SPA); IMB; Chiscani-Grojori; Baer (Calarasi); Bilieşti-Ciorvanesti and Nina ().
7. Agricultural Mechanization: the supply of batteries and drive belts for Harvester-combine harvesters.
Part b: Technical Assistance 1. Bookkeeping and accounting: Introduction, development and strengthening of national profession of accountant and chartered accountant, including the development of a modern system of accounting and accounting expertise.
2. Private sector development. The privatisation of undertakings: (a) designing and developing a strategy and appropriate legislation and regulations, options and techniques for the privatization of State enterprises;
(b) the development of techniques and methodologies for the privatisation of State enterprises of small size, setting, on the basis of a pilot project, a programme of privatization of some small companies selected, and (c) providing advisory services to strengthen capacities and experts of the National Agency for privatization in the fields of providing strategies on privatization and privatization programmes in modeling, including seminars in this respect for study and training abroad of selected personnel of the NAP as well as supplying computers and adjacent materials.
3. Restructuring of industries: (a) development of a strategy and an institutional framework, as well as the implementation of a programme for the restructuring of State-owned industrial enterprises and the preparation of model programmes for restructuring for eight (8) State-owned industrial enterprises, selected in accordance with the Bank's systems and methodology;
(b) the provision of advisory services to strengthen capacities and the Ministry of industry in the areas of energy policy and industrial restructuring including seminars and studies abroad for selected staff of M.I. and providing computers and adjacent materials.
4. Bank Restructuring: the preparation of strategic development plans, training plans and staff assess hardware requirements for Agricultural Bank, commercial bank, Co-operative Bank, the Development Bank and the C.E.C. 5. Energy: (a) development of a system for determining the costs and energy prices and the implementation of a programme for the full liberalization of energy prices;
(b) elaboration of the following studies based on terms of reference approved by the Bank: (i) a study on the cost of energy and prices; () a study of the analysis and evaluation of oil and gas reserves; (iii) a study that reported potential hydrocarbons of the borrower.
6. Elaboration of a survey: Irrigation System of irrigation, based on agreed conditions, bank reference, reported on the existing system of irrigation for the purpose of issuing appropriate recommendations for their modernization/privatisation.
7. Mining: providing advice and expert services for: (a) provision of assistance in organizing cost efficiency and increased productivity in some surface mines that have low costs; (b) formulating recommendations for improving the long-term performance and productivity of mine.
8. Employment Services: providing assistance to the Ministry of labour and social security on line improvement activities within the field of computerisation, employment services, the development of active measures in the labour market analysis, ensuring training and consultancy services relating to employment, in developing an information system relating to the labour market as well as in the establishment of social security and a pension fund, including the provision of expert services, training, computers and related materials.
Part c: institutional development 1. Providing expert advice and services for the purposes of: (a) strengthening the capacity of the Ministry of economy and finance in the areas of achieving macro-economic policy, quantitative analysis, economic forecasting, reviewing portfolios of non-performing public investment, the development of a system for the analysis of public investment, including studies and seminars abroad for training selected personnel from the Ministry of economy and finance and supply of computers and the adjacent materials;
(b) strengthening the capacity of the National Council for reform in the areas of macroeconomic and legislative reform, including studies and seminars abroad for training selected personnel within the Council as well as the supply of computers and the adjacent materials.
2. The provision of a network of computers for the analysis of statistical data and their processing by the National Commission for statistics, including the preparation of the staff concerned.
3. Providing advice and expert services for the strengthening of the capacities of project coordination PIU, supervision and implementation, including the provision of computers and the adjacent materials.
* the project is estimated to be finished by June 30, 1994.
Annex 3 the damping Scheme payment due Date Payment principal debt denominated in dollars URS.U.A.*)
Every March 15 and September 15-starting March 15, 1997 until March 15, 2006 9,000,000 on 15 September 2006 9,000,000 Note *) Figures this column represents the dollar equivalent determined at the respective dates S.U.A.. See "General conditions", sections and 3.04 4.03.
You pay premiums with anticipatie following the provisions of section 3.04 of the "General conditions", the amount of which will pay for the amount of principal maturing within the loan, paid in advance, will be determined by the percentage specified in the table below: the First prepayment interest rate (expressed as a percentage per year) from the date the loan advance payment multiplied by :-Not more than three years before the maturity period 0.18-more than three years but not more than six years before the period of maturity 0.35-more than six years but not more than eleven years prior to maturity more than 0.65-eleven years, but no more than fifteen years before maturity-more 0.88 fifteen years before maturity 1.00 annex 4 procurement and consulting services section 1 Acquisition of goods part 1: international competitive Tender. Excepţind those set out in part B of this story, the goods will be procured through contracts awarded in accordance with the procedures set out in sections 1 and 2 of the "Guide to procurement of goods in the case of financing via loans and AID BIRD", published by the Bank in May 1985.
2. on the practical extent possible, contracts for goods will be grouped into packages of estimated cost auctions echivalind with 300,000 $ or more each.
Part b: other procedures of purchasing 1. Contracts for goods estimated at a cost equivalent to $ 300,000 or less per contract, up to a lump sum that will not exceed the equivalent of $ 33,000,000 can be purchased through contracts awarded on the basis of the comparison price keep obtained from at least three suppliers in at least two different countries eligible according to the Guide, in accordance with procedures acceptable to the Bank.
2. contracts for batteries and drive belts for the combine and seceratori awarded no later than 31 July 1991-and that until a lump-what level does not exceed the equivalent of $ 7,500,000-can be procured through contracts based on comparing the current rankings price obtained from at least three suppliers in at least two different countries eligible according to the Guide and procedures acceptable to the Bank.
3. contracts for the procurement of original pieces or articles required for Standardization may be awarded after negotiations with suppliers, with the prior approval of the Bank, in accordance with the scanners.
Part C: analysis of the decisions to purchase 1. Review of invitations to tender and adjudecarilor, as well as final contract: (a) In respect of each contract estimated at $ 300,000 or more will be applied to procedures set out in paragraphs 2 and 4 of my gall bladder had 1 of the Guide. Where payments for such contracts shall be made from the special accounts, these procedures will be amended to ensure that the two copies of the contract, required to be provided to the Bank in accordance with subparagraph (d), will be submitted to the Bank prior to the first payment from the special accounts in the case of such an arrangement.
(b) In respect of each contract that is not covered in the previous paragraph, shall apply the provisions laid down in paragraphs 3 and 4 of my gall bladder had 1 of the Guide.
Where payments for such contracts shall be made from the special accounts, certain procedures will be amended to ensure that the two copies of the contract, along with other information required to be provided to the Bank as a result of paragraph 3, shall be provided as part of the Bank today presented on the basis of paragraph 4 of annex 7 to this agreement.
(c) the provisions of the preceding subparagraph (b) shall not apply to contracts on behalf of which the Bank has authorized drawdown based statement of expenditure.
The figure of 15% is specified here for completing the paragraph 4 of my gall bladder had 1 of the Guide.
Section 2 Hiring consultants for the purposes of the borrower in project support, it will employ or will cause only by engaging consultants whose qualifications, experience and terms and conditions of employment will comply with the Bank.
These consultants will be selected in accordance with the principles and procedures as satisfactory for the Bank, based on the "Guide for use by recipients of consulting provided loans of the World Bank", published by the Bank in august 1981.
Annex 5, schedule of implementation of Government borrower,. coordination of the Ministry of economy and finance (M.E.F.), will coordinate the overall implementation of the project through the project implementation team-Project Implementation Unit (PIU); PIU, inter alia: (1) you take with regard to implementing agencies or other entities responsible for carrying out the project or any part thereof;
(2) the evidence you activities related to the project;
(3) preparing to be provided twice-yearly reports on the Bank's progress in carrying out the project; and (4) deals with the realization of expertise covered by section 4.01 of this agreement.
B. project implementation (1) will be responsible for PETROM'S realization of parts (1) (a) and (B) (5) (b) (him or her) and (iii) of the project and will be responsible for realization of NABUCCO PIPELINE part (1) (b) of the project.
To this end, PETROM, inter alia: (a) shall designate a particular image to be established and adequately staffed, in PETROM up to 1 September 1991, with loads of goods purchase within part A (1) of the project and (b) it will conduct studies in which reference is made in section B (5) (b) (him or her) and (iii) of the project in accordance with the terms of reference for the Bank and satisfacatori will ensure completion of those studies until 31 July 1993, and subsequently will make an exchange of views on the bank statements, conclusions and recommendations resulting from these.
(2) you will be liable for LOUNGING AROUND the achievement of the rehabilitation of the two power stations referred to in part A (2) of the project.
Among others, LEO: (a) maintain appropriate personnel with adequate resources and the existence of implementation established by it, in order to achieve the said parts of the project (2);
(b) prepare you through this community and will provide quarterly reports to the Bank, on the progress made in the fulfilment of the respective parties (2);
(3) will be responsible for achieving RAL parts (3) and (7) of the project.
(4) CONTRANSIMEX will be responsible for carrying out part (4) (a) of the project.
(5) METRO-Bucharest will be responsible for carrying out part (4) (b) of the project.
(6) and will be CONVEX SOCEP responsible for making the party A (4) (c) of the project.
(7) the ROM-POST-TELECOM will be responsible for achieving the party to (5) of the project.
(8) the Ministry of agriculture and food industry (MOA) will be responsible for carrying out the parties to (6) and (7) of the project.
MOA, inter alia: (a) will coordinate its Department or for irrigation, buying and distributing the irrigation units referred to in part A (6) project, the equipment to be imported in accordance with the Party (6);
(b) shall carry out the study referred to in part B (6) in accordance with the terms of reference for the satisfacatori Bank and the Bank shall provide for consideration and comments, the report containing conclusions and recommendations this study after completing his.
(9) ROMAGRIMEX will be responsible for carrying out part (7).
(10) the Ministry of economy and finance will be responsible for achieving the parties B (1), C (1) and (3) of the project.
(11) the National Agency for Privatization (NAP) will be responsible for carrying out part B (2) of the project.
(12) the Ministry of industry (MOI) will be responsible for realization of part B (3) and (5) (a) and (B) (5) (b) (i) of the project. Moi, inter alia: (a) will provide up to 31 December 1992, the preparation of strategy and policy for the restructuring of undertakings covered by that part B (3).
(13) each of: Agricultural Bank, commercial bank, Bank, Bank Coop and C.E.C. will be responsible for the achievement of their respective parties within the framework of part B (4).
(14) the Ministry of labour and social protection (MOLSP) will be responsible for realization of part B (8) of the project.
Through a collective, which will be set up within the MOLSP until 1 September 1991, that collectively will be responsible, inter alia, for: (a) preparation of a programme in accordance with the terms of reference for the Bank satisfacatori, to contract the services of consulting, training and implementation experts;
(b) preparing the reports quarterly on the progress made in the implementation of part B (8).
(15) National Commission for Statistics will be responsible for making the part C (2) of the project.
Annex 6 special accounts 1. For the purposes of this Annex: (a) the term "eligible category" shall mean the categories 1 and 2 set out in the table in paragraph 1 of annex 1 to this agreement;
(b) the term "eligible expenses" means expenses covering the reasonable cost of goods and services financed under this project to be financed by the loan, allocated from time to time eligible categories, in accordance with the provisions of annex 1 to this agreement;
(c) the term "authorized allocation" means the total sum, equivalent to the $ 15 million to be drawn from the loan account and deposited in special accounts in accordance with paragraph 3 (a) of this annex.
2. payments from the special accounts will be made exclusively for eligible expenditures in accordance with the provisions of this annex.
3. after the Bank has received evidence satisfactory to it that special accounts were opened in the proper rule, authorized allowances and goaltender following drawdown to refill the special accounts will be made as follows: (a) the authorized drawdown of grants, the borrower will forward the Bank a request or requests for a deposit or deposits not exceeding the total amount of the appropriations authorised. Based on these requests, the Bank, acting on behalf of the borrower, will draw from the loan account and will be stored in special accounts that (those) amount (sum) that the borrower has requested it (asked);
(b) (i) special accounts to replenish, the borrower will forward requests for submission of Bank in special accounts at those intervals that the Bank will specify;
(them) Previously, the date of each such request, the Borrower will be sent to the Bank the documents or other evidence required, in accordance with paragraph 4 of this annex, for the payment or payments in line with refueling. On the basis of this request, the Bank, acting on behalf of the borrower, will draw from the loan account and will make special accounts those amounts borrower has requested them and who will have been shown in documents and other evidence that may have been paid from the special accounts for eligible expenses.
All these deposits will be drawn by the Bank in the loan account in accordance with the respective eligible categories, and in equivalent amounts in question, which were substantiated by the documents and other evidence.
4. For each payment made by the borrower, the borrower from special accounts, when the Bank will reasonably request will be transmitted to the Bank such documents and other evidence, a local resident that that payment was made exclusively for eligible expenditures.
5. Contrary to those contained in paragraph 3 of this annex, the Bank shall not be required to make further deposits into the special accounts: (a) if any Bank date will be determined as all drawings to be made by the borrower directly from the loan account in accordance with the provisions of art. 5 of the "General conditions" and paragraph (a) of section 2.02 of this agreement, or (b) the total amount allocated from netrasa loan, eligible categories, minus the value of any undertaking in respect of which the Bank has entered into arrears in accordance with section 5.02. the "General conditions", in relation to the project, will call, equivalent to twice the amount of the allowance is authorized.
Afterwards, at the expense of the remaining amount of the loan netrase loan, allocated to the eligible categories, will follow those procedures which the Bank will specify by notice to a borrower. These further drawdown will be made only to the extent that the Bank will be convinced that all these amounts, deposited in special accounts of the shooting, the notification will be used to pay for eligible expenses.
6. (a) If the Bank would be decided at any time, as any payment from the special accounts: (i) was made for an expense or an amount neeligibila under paragraph 2 of this annex, or (them) was not supported by evidence supplied to the Bank, the borrower immediately upon receiving the note from the Bank: (A) will ensure that additional proof that a Bank may request or (B) shall deposit in the special accounts (or If so, the Bank will request the Bank will refund an amount equal to) the amount of that payment or portion of it is therefore unjustifiable or neeligibila.
Only if Bank does not otherwise agreed, no further deposit will no longer be made by the Bank in the special accounts until the borrower will not provide evidence or make the deposit or refund as appropriate.
(b) If the Bank will be decided, whenever, as any amount remaining in the special accounts will not be required to cover payments for eligible expenses, Borrower-immediately upon receipt of notification from the Bank-the Bank will refund this amount remaining.
(c) the borrower, upon notice from the Bank, can repay its all or any portion of the funds deposited in the special deposit accounts.
(d) the Bank refunds made in accordance with paragraphs (6) (a) (b) and (c) of this annex shall be credited to the loan account in accordance with the provisions covered by this agreement, including the "General conditions".
Annex 7, the main terms and conditions of loan agreements and participation agreements subsidiary part a: loan Borrower subsidiary Agreements will reimprumuta via M.E.F. implementation agencies, each, amounts of borrowing required for realization of the project component of the Agency, under a loan agreement what follows to intervene between the borrower and each implementing agency on the basis of the terms and conditions with which the Bank agrees, including the following requirements and conditions: 1. Subimprumuturile (subsidiary loans) to be granted ahead of each Loan shall not exceed the value of the agents of the loan allocated to the respective component of the project that the agents within the appropriate category listed in the table in paragraph 1 of annex 1 to this agreement.
2. The value of each subimprumut to which reference is made in paragraph 1 above will be denominated in dollars or German marks and will be repaid in quarterly installments (installments) in: (i) dollars or German marks (them) or their equivalent in lei.
This equivalent will be determined on the basis of the interbank exchange rate at the dates of maturities are used or any other Exchange rate free market, published by National Bank of Romania and acceptable for the Bank.
3. Due date of every subimprumut shall not exceed ten (10) years, including a grace period of three (3) years, and each agency implementation will be able to repay subimprumutul respectively toward the anticipated due date agreed upon, with no premium for pre-payments.
4. each agency implementation will pay the borrower interest at the amount of subimprumutului respectively the drawdown from time to time, at an annual rate equal to at least: (i) interest LIBOR 6 months for $ 1, plus a rate of 1.5% or () interbank market rate, plus 1.5%.
5. each subsidiary loan agreement will stipulate for the corresponding implementing agencies, inter alia, the obligation to comply with the respective correspondence from the project, with proper attention and effective and in accordance with the terms and conditions consistent with the borrower's obligations in this agreement.
6. each subsidiary loan agreement will be subject to the prior approval of the Bank.
Part b: participation Agreements to assist in administration and implementation subject to supervision of the alternative loan, the borrower will conclude agreements of participation each participating bank, which will be approved at each Bank. Participation agreements will involve, inter alia: (i) the borrower is obliged to pay each participating banks an annual administration fee to be determined as a percentage of the sums collected over these banks from implementing agencies and (them) to each of the participating banks, the obligation to manage the subsidiary loan agreements in accordance with the rules of the administrative, managerial and financial and banking and to maintain the separate agreement for obvious According to accounting practices.