Selanjutnya

rd ｎｇｄｏｾＮ＠ OF s·AUD I ARAB I A

SAUDI FUND FOR DEVELOPMENT

LOAN AGREEMENT

NUCLEUS ESTATE AND SMALLHOLDER PROJECT

(NES VII REGION IV)

BETWEEN

THE SAUDI FUND FOR DEVELOPMENT

· AND

THE· REPU6LIC OF INDONESIA

Loan No. : 6/251

Signed on : 27 Muharram 1407

A.H.

Corresponding to : 1 dctober 1986

A.n

LOAN NO. 6/251

LOAN AGREEMENT

AGREEMENT signed on 27 ｍｵｾｴｲｲ｡ｭ＠ 1407 A.H.

corres-ponding to 1_ October 1986 A. D. between :

1 THE SAUDI FUND FOR DEVELOPMENi, Riyadh, Kingdom of ｾ｡ｵ｡Ｑ＠

Ari!bia (hereinafter.· called the Fund), represented by

H. E.

Ustaz Mohammad A. Alsugair, Vice Chairman ｾｮ､＠

Managing Director

and

2 THE REPUBLIC OF INDONESIA, (hereinafter. called the

Borrower) -represented by H. E. J.B. Sumarlin, State

Min-ister and Chainnan of. .Nat1ona1 Planning Board

PREAMBLE'

{A) ｾｲｬｅｒｅａｓ＠ the Borrower has requested the Fund to grant

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·it a Ｍ ｬｾ｡ｮ＠ to assist in ｴｾ･＠ financing of ·the ｎｵ｣ｬｾｵｾ＠ Estate

·and Smallhold-er Project .. (N=:S VII Rt:GION IV) described in

ｾ｣ｨ･､ｵｾ･＠ (2) to this Ag reement - (hereinafter called the

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(B) WHEREAS the purpose ｯｦ Ｎ ｴｨｾ＠ Fund is to assist developing countries in.developing their economies and . to ｰｲｯｶｾ､･＠ them

with loans required for the implementation of their .development projects and programs;

(C) WHEREAS the Fund is convinced of the ｾｭｰｯｲＺ｡ｮ｣･＠ of the Project and its beneficial effects on the economic development of the friendly people

of

Indonesia; and

(D) WHEREAS the. Board of Directors of the Fund has aareed, in view of the foregoing by its Ｂｒ･ｳｾｬｵｴ Ｎ ｩｯｮ＠ No. 2/30/266 dated 12.11.1400 A. H. ｣ｯｲｲｾＤｰｯｮ､ｩｮｧ＠ to ＲＱｾＹＮＱＹＸＰ＠ A. D., to grant the

Borrowe.r a ·loan upon the terms and conditions hereinafter set forth.

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ARTICLE I

General Conditions; Definitions

Section 1.01. The parties to this Agreement accept all

the provisions of the General Conditions Applicable to Loan

Agreements of the Fund issued by Resolution of the Board of

ｄｩｲ･｣ｾｯｲｳ＠ of the Fund No. 11/14 dated Rajab 29, 1396 A. H.,

corresponding to July 26, 1976 A. D., with the same force and

effect·as if they were fully set forth herein (said General

Conditions Applicable to Loan Agreements of the Fund· being

he.reinafte·r called the General Conditions) • .

Section 1.02. Wherever used in this Agreement, unless

the context otherwise requfres, the several tenns defined in

the General Conditions and in the Preamble to this Agre·ement

have the respective meanings therein set forth and ·the

follow-ing additional terms have the followfollow-ing meanfollow-ings

1) "Directorate General of Estates" means the Directorate

General of Estates of the Borrower•s Ministry of

Agri cu 1 ture;

2) "The Corporation" means Perseroan ｔ･ｲ｢｡ｾ｡ｳ＠ Perkebunan

XXI!l, a public sector agricultural ･ｳｴ｡ｴｾ＠ enterprise

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ﾷｾ＠

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No. 9/1969 of the Borrower and designated as such under

Government Regulation No. 8 dated February 9, 1971, or

any successor thereto;

3) Ｂｾｩｮ｡＠ ｾｩ｡ｲｧ｡Ｂ＠ means ｴｮｾ＠ Directorate General of Highways, an

agency of the ｂｯｲｲｯｷｾｲ＠ within the Minis try of Pub 1 i c ｾｾ｡ｲ ｫ ｳ［＠

4) "The Bank11 _{means Bank. Bumi Day a, estab}

1 i shed and

operating under Law No. 19 of 1968 of the Borrower;

5) "Team ｋｨｌｩｳｵＭｾＢ＠ means Team ·Khu sus Proyek Perkebu nan

Berbantuan, the special team created . under Decree

No. 182 of 1983 of the ｂｯｲｲｯｷ･ｲｾｳ Ｎ ｍｩｮｩｳＡ･ｲ＠ of

Agri-culture to assist the Directorate General of Estates

in e.Xterna lly/ ·; n tern a 11 y fi.nanced · estate projects;

6) "Settler .. means a smallholder and his family sett·led

or previously settled in a settlement area and

parti-cipating under the. Project, as the context may .require;

7) "Smallholder Credit Agreements .. means the respective

agreements to be ･ｮｴ･ｲ･ｾ＠ into between the Bank and the

Settlers pursuant to Section 3.04 (a) of this Agreement;

8) "Smallholder Development Agreement" means the agreement I

to be entered into between the Directorate General of Estates, the Bank and the Corporation pursuant to

9) ••.Financing ａｲｲ｡ｮｧｾ･ｮｴｵ＠ means the arrangement to be

entered into between the Borrower and the Bank pursuant

to Section ＳｾＰＴＨ｣Ｉ＠ of this Agreement;

10) "Hak MiHk11 _{means the right .of ownership in respect of·}

land, as provided under the Basic Agrarian Law No. 5

of 1960 of the Borrower;

11) "Credit ｓｸｰ･ｮ､ Ｎ ｩｴｵｾｳＢ＠ means that part of expenditures

incurred for ·Part A of the Project and which ｾｲ･＠ intended

to be recovered from Settlers

as

provided in the

Small-holder Credit Agreements referred to in Sec:ion 3.04 (a),

including inter alia expenditures for initial land .

｣ｬ･｡ｲｩｮｾ＠ of oil palm and food crop areas(including related overnead costs), Settler housing, field roads and cash

payments to new settlers.

12) "Non-Credit Expendituresu means that part· of expenditures

for Part A of the Project which are ｮｯｾ＠ ｩｮｴｾｲｩ､･､＠ to be

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recovered from Settlers, including inter alia expenditures _{. . .}

-for community facilities, vi11age infrastructure, provincial

roads, water· supply and sanitation, a.nd .management fee

pay-able to the Corporation;

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ｾｾＬ＠ "Project Fdci1ities" means the faci&ities to be provided

or constructed under the Project;

14) "Subsidiary Loan ａｧｲｾ･ｭ･ｮｴＢ＠ means the agreement ｾｯ＠ be

･ｮｾ･ｲ･､＠ into between the ｂｯｾｲｯｷ･ｲ＠ and the ｃｯｲｰｯｲ｡ｾｩｯｮ＠ in

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ARTICLE II

T-he· Loan

Section

l.Ol.

The Fund agrees to lend the Borrower, on

the terms and conditions in the Loan Agreement set forth or

referred to an amount of Ninety one million three hundred

thousand (91,300,000) Saudi ｒｩｹ｡ｬｾＮ＠

Section 2.02. The amount of the Loan may be withdrawn

from the Loan Account in accordance with the provisions of

Schedule (1) to this Agreement. as such Schedule may be amended

from time to time by Agreemertt between the Fund and the

Borrower, and fn accordance wfth the Procedures for Withdrawal

of the Proceeds of.the Saudi Fund for Development Loans, for

expenditures made (or, if the Fund shall so agree, to be made)

in respect of the reasonable cost of goods and services required

for the Project and to be financed out of the proceeds of the

Loan.

Section 2.03. ihe ｓｯｾｾｯｷ･ｲ＠ shall apply the proceeds of the

toan exclusively to financing the reasonable cost of the goods

and services required for the carrying out of the Project.

Pro-curement of ·such aoods and services sha 11 be in accordance with ., . . .

the Fund's Guidelines for the Borrower on Procurement of Goods

and Services and Technical ｒ･ｰｯｲｾｩｮｧ＠ Requirements. The Bortower

financed out of the proceeds of the Loan and before effecting any modification thereto in the future.

Section 2.04. The Closing Date shall be September 30, !992 or such later date as the Fund sha1l establish. The Fund shall promptly notify the Borrower of such ｬ｡ｾｲ＠ date.·

Section 2.05. The Borrower shall pay a loan ｣ｨ｡ｲｧｾ＠

at the rate of three per cent

(3:)

per ｡ｮｮｵｾ＠ on the pfinci-oal amount of the Loan withdrawn and outstanding from

time to time.

Section ·2.06. Loan Charge and other charges shall be payab 1 e semi-annually. on March 15 and September 15 in each· vear .

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ｾｒｉｉｃＡＮＮＺＺ＠ !II

ＺＺｸ･ｾｵＺｩｯｮ＠ of the ｐｲｯｪ･ｾｴ＠

ｓ･ｾＺｩｯｮ＠ 2.0!. lne 3orrower shall

(a ) ＺｾｲＺｹ＠ cu: :he Projec:, or cause ｾｮ･＠ ＿ｲｯｪ･ｾｾ＠ to be

carriEd ｯｵｾＬｷｩＺｮ＠ cue • 0 . . . .

｣ｾ＠ 11ce:1:e and efficiency and in ｣ｯｮｦｯｲｾｩｾｹ＠

.:::. c .. ; c• • 1 -:-u r :. 1

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, ･ｮ｣ｩｲＱ･･ＺｩｮｾＬ＠

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-prac:ices.

(b) maKe avaiicQie, ｰｲｯｾｰｴｩｹ＠ as needed, the funds,

faci-li:ies, services, lanes and ｯｾｮ･ｲ＠ resources which are required,

in ｡､､ｩｾｩｯｮ＠ to the proceeds of the Loan, for the carrying out

of the Project and for the operation and maintenance of the

Project Facilities.

(c) ｾｮｾｲｵｳｴ＠ the overall responsibiiity for management and

coordination of the imolementation of the Project to the

Direc-·or --o I. c.'-- ｾ ･ｮｯｲ｡ｬ＠\J - ｯｲｾ＠ :. -s---os I.C. .. _ •

Section 3.02. ｾｩｴｨｯｵｴ＠ prejudice to the provisions of

Sec:ion 3.01 aoove, the Sorrower snail cause Bina Marga to

carry out Part (A) (7) of the Project and snail make avai l able

to 3ir.a ｍ｡ｲｧｾ＠ all :ne· funts reauired for :his ｾｵｲｰｯｳ･Ｎ＠

ｾｯｲ＠ the purp9ses of :he Nucleus ::s:ate

(1) relend the portion of the proceeds of the Loan ｡ｬｬｯ｣｡ｾ･､＠ for the Project pursuant to the provisions set forth in

Schedule (1) ｾｯ＠ this Agreement, to the Corporation under a

Subsidiary Loan Agreement to be entered into between the

Borrower ｡ｮｾ＠ the Corporation, under terms and ｣ｯｮ､ｩｾｩｯｮｳ＠

acceptable to ｾｨ･＠ Fund. The Subsidiary Loan Agreement shall

provicie for the execu:ion by the ｃｯｲｰｯｲ｡ｾｩｯｮ＠ .of an the

obligations and conditions which the Borrower undertakes by

virtue of the provisions of this ｾｧｲ･･ｭ･ｮｴ＠ to cause ｾｮ･＠

Corporation to comply with; and (2) make available to the

Corporation such additional ｾｵｮ､ｳ＠ as shall be required by

the Corporation to carry out Part (B) of· the Project under

tne Subsidiary Loan Agreement.

(b) The Borrower shall ･ｸ･ｲｾｩｳ･＠ its rights under the

Subsidiary Loan Agreement in such manner as to protect the

interests of the Borrower and the ｆｾｮ､＠ a·nd to acco:np 1 ish the

P'..!:"'t)Osas of th!: Loan, and except as the r.und sha 1 i othen1i se

agree, the Borro\·ler sha 11 not assign, nor amend, abrogate, or

Haive ｾｨＺ＠ Suosidiary Loan Agreement or any ;:>revision ｾｨ･ｲ･ｯｦＮ＠

Section 3.04. Hithout limi::ation or· r-e:;:r.i::-ion upon

tne provisions of Se::ion 3.03 of this ａｧｲ･･ｭ･ｮｾ＠ :

(a) ?or tne ourooses of financina :he _.

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., ｃｲ･､ｩｴ ﾷ ｾｾｯ･ｮ､ｩｴｵｲ･ｳ＠ .

ur.der ?art (A) of :he ｐｲｯｪ･｣ｾ＠ ar.d of re:overing the :os:s of

.)

tne 3ank to ･ｮｾ･ｲ＠ into Smallholaer Credit Agreements with the Settlers about three years after planting of ｾｩｬ＠ palm and ｯ｢ｾ｡ｩｮｩｮｧ＠

Hak Milik for each settler Tne respective ter.ns a.nd conditions of saia ａｧｲ･･ｭ･ｮｾｳ＠ shall be satisfa€tory.

(b) For tne purposes of ensuring the prompt and effi-cient management, suoervision and coorciinati,on of ｡｣ＺＮｩｶＧＭｾＭ

Ｎ ｵｮｾ･ｲ＠ Part (A) of tne ｐｲｯｪｾｾｾＮ＠ the Borrower shall, through

tne ｏｩｲ･｣ｴｯｲ｡ｴｾ＠ General of ｾｳｴ｡ｴ･ｳＬ＠ enter into a Smallholder

Develooment Aareement with· the Corooration and the Bank under _.

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terms and conditions satisfactory to tne Fund, provjding for the obligations

of

the Corporation and the Bank in ｲ･ｳｰ･ｾｴ＠

of Part or Purts of the Project. The ｃｯｲｰｯｲ｡ｾｩｯｮ＠ shall ｵｾｩＭ

lize the Loan proceeds allocated ｦｯｾ＠ the Credit Expenditures of Part (A) of the ｾｲ･ｪ･｣ｴ＠ pursuant to ｴｨｾ＠ provisions set forth in ｓＧｨｾ､ｵｬ･＠ (1) to this Agreemerit together ·with other necessary funds which the Borrower shall make available or cause the Sank to !)e ｾ｡､･＠ available. The Sma.llhclde:- Dev-elop-ment AgreeDev-elop-ment· shail spell out, inter alia, the ·Scope of

smallholder ｣ｩ･ｶ･ｬｯｰｾ･ｮＺ［ｴｨ･＠ ｲｾｧｮｾｳ＠ and duties between the ·Direc-torate ;eneral ｯｦ Ｎ ｾｳｾ｡ｾ･ｳＬ＠ the Corpora:ion and :he Sank,

fi nar.ci ng ar.d :-eoay:nent arrangements and res cons i bi i i ti.es in

resoec: of Projec: Ｑｾｰｬ･ｭ･ｮｾ｡Ｚｩｯｮ［＠ and ｯｰ･ｲ｡ｾｩｯｮ｡ｩ＠ and

main-tenance responsibiiities for development of ｐ｡ｲｾ＠ (A) of the D""OJ.

(c) The Borro\ver shall make available to the

Partici-oa:ir.g ｓｭ｡ｬｩｮｯｬｯ･ｾｳＬ＠ through a Financing Arrangement accept-.

aole :o :he ｾｾｮ､＠ with :he Bank, the proceeds of the Loan

｡ｩｩｯ｣｡ｾＺ､＠ for tne Sredit Exoendit.ures of Part {A) .pursuant

ｴｾ Ｎ ｴｨＺ＠ provisions ｳ･ｾ＠ ｦｯｲｾｨ＠ in Secnau1e (1) to this Agreement,

wni:n sna11 oe u:i1izea unoer tne management of tne

Corpora-:ion.

(d) The Borrower sha}l cause the par:ies to the

Small-holder Credit Agreements and the Smallholder Dev.eiopment

Agreement, respectively, to perform punctually their respective

obligations under suc.H Agreements.

(e) The Borrower shall exercise its rights unaer the

Financing Arrangement and the Smallholder Development Agreement

in such a manner as to protect the ｩｾｴ･ｲ･ｳｴｳ＠ of the Borrower

and the Fund and to accomplish ｴｨｾ＠ purposes of the Loan. No

Smailhoider Development Agreement shall be assigned, amended,

abroga:ed or waived witnout the prior .concurrence. of the Fund.

Se::ion Ｓ Ｎ ＰｾＮ＠ Without ｩｾｭｩｾ｡Ｚｩｯｮ＠ or res:ric:ion upon

-r.c _{'- ·-::=--·c.·•-.:} ,.,o.no ... ＭｾｾＭｾｾ＠ _{o ...} .: ::or-.; _{·.on ...} ｾ＠ 01 ; =·) _Ｌｾ＠ 0.: _{.... "-'--"-}·r.,·s ·.c ... c:""on-_{"'!··-"''' \ ...} "'r.· o =<o ... o.,o ... sna _{ii :}

{-) _o. ｾｾﾷﾷｳｯ＠_{.,._.__._,_} -no ｄｬＧｲｯｲＭｯｲＭＭｾ＠ _... ＢＧ｣Ｎ［ＮＺＺｾＮＺ＠ ｾｯｮｯｲ｡ｬ＠ ...

o.:

'-"'c.;. ... ,.-. ... ., ... =s---os ｾＬＬﾷﾷｮ ﾷ＠ -no ｾｳＭｾｳＭ｡＠ n ... ro

of ｔｾ｡ｭ＠ ｋｨｬＡｳｾｳＬ＠ :o prepare anc ｳｵ｢ｾｩｴ＠ ｾｯ＠ :ne ｾ｡Ｚｩｯｮ｡ｩ＠ D:ve1ocment

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work program and oudget for the carrying out. o7 ?ar:s (A) and (C) of the Project . Thereafter, the Borrower sna11 make available all the funds required for the purpose.

(b) (l) cause ｾｨ･＠ Project to be carried out in accordance witn the Organization and Managemen: ArrangE-ments set forth in Scheoule (3) to this ａｧｲ･･ｭ･ｾＺ［＠ and

(2) ensure that ｾｨ･＠ funds for ｐ｡ｲｾ＠ (A) of the Projec:

are provided and recovered in accordance with the proVisions set forth in Section 3.:04 (a) of this Agreement.

.Section 3·.06. The Bor-rower shall furnish, or cause to be furnished, to the rund, ｰｲ｣ｾｰｴｬｹ＠ upon their prepara-tion, the plans, design standards, specificaprepara-tion, repor:s, contract documents and construction and procurement sche-dules for the ｐｲｯｪ･｣ｾＬ＠ ana any material modifications thereof or additions thereto in such detail as ｾｨ･＠ ｆｵｾ､＠

shaii reasonaoiy request.

Section 3.07. In oraer to assis: :he CorJoration and

a;

na ｲﾷｾ｡ｲｧ｡＠ in supervision of the ･ｸ･｣ｾＺｩ｣ｾ＠ :,7 ?ar:s

. .... 'L'J 0\ . , and ··· i-' /'"1\IJ,r-.\u.,.,.: . ｾ ＮＧ ｊ Ｇｊ＠ •n- ..J::.or ... , O\'.:."" · · - · ｳＭＭﾷｾＭｾ＠ 11;1 ... .::. ... -- .. s!) :. .... _ _ _ ｾｾＭ c"'-.'"'cr_:._ v..J

ｓ･｣ｾｩｯｮ＠ 3.08. In carrying out the Project, the Borrov1er

sha 11 emp,.i oy, or cause to be emp 1 oyed, CO=!lpetent .and qua 1 i fi ed

｣ｯｮｴｲ｡｣ｾｯｲｳ＠ and suppliers acceptabie ｾｯ＠ tne runa uoon ｳ｡ｾｩｳｦ｡｣ｴｯｲｹ＠

ｾ･ｲｭｳ＠ and conditions.

Section 3.09. The Borrower shall ｾ｡ｋ･＠ or ceuse to be taken

ail such ｡｣ｾｩ＠ OD as sha i1 be necessa r.y to .acquire as and v1hen

neeaed all such lana and rights in respect of land as shall be

required for carrying out the P.roj ect and shall furnish to the

Fund, ｰｲｯｭｰｴｾｹ＠ after such acquisition; evidenc·e satisfactory to

ｴｨｾ＠ fund that such land and rights in respect of· iand are

avail-able for purposes related to the Project.

Section 3.10. For the purposP. o'f the day-to-day

implemen-ｾ｡ｴｩｯｮ＠ of Parts (A) ｾｮ､＠ (B) of the Project, the Borrower shall

cause the Corporation to establish

a

Project Office to be headed

by a ｐｲｯｪ･｣ｾ＠ Manager. The Project Manager shall appoint a

S . ... i "' e ··a n a

r·

g e r who shall assist him in the day-to-day

impiementation ot the Project.·

Section 3.11. The Borrower ｵｮ､･ｲｾ｡ｋ･ｳ＠ to ensure that the

coordination of the functions among ":he. Oirec:o:"'ate ;eneral of

ｾｳｾ｡ｾ･ｳ［＠ Team l(husus, the Corporation c.nd :he ?:"'ovin:"iai

Goverr:-ment under ｾｨ･＠ Project, shall be carried out by :he Projec:

Sec:iorr 3 . 12. Tne Sorrower snall ･ｳｾ｡ｯＱｩｳｨ＠ a Provincial

ｃｯｯｲ､ｩｮ｡ｾｩｮｧ＠ ｃ｣ｾｾｩＺｾ･･＠ in Sengkulu ｐｾｯｶｩｮ｣･＠ for tne coordi

na-ｾｩｯｮ＠ or· ｰｲｯｶｩｮ｣ｾＭｷｩ｡･＠ ac:ivi:i2s ana fun::ions of :he agencies

1nvo1vec ｾｮ｡･ｾ＠ ｐ｡ｾＺ＠ (A) 07 ｾｮ･＠ ｾ＠ｾｾｏｊ＠ . e::. This ｃｯｾｾｩｾｾＲ･＠ shall :(:ns ｩｳｾ ﾷ＠ of ｾｮ･＠ Governor of SengKu iu ?rovi nee as Cha i i:lJ.an, :ne

ｲｾＭｾＭＭｾｲＮ＠ ｾ［＠ -no ｾＭｾｶＬﾷｮ｣［｡ｬ＠

Vtl= I • .t i - I <,J I v i - o I ...J ' ｕ-_ ｟Ｐ ＱＬＱＰ ｟ｉｑｾＭ · - .•. ﾷＭＡＱｾ＠Ｐ - , II-ｾＭｾﾷｾｮｮｬｮｏ＠ · • n:;- - " ｾｮｯｮ｣ｹ＠· ｴｾﾷｯｯｾｑＧ\ D ,-,, . -- n c Ｇ＠1 ,

;>s \/ ,· ,.._ r .... ｾＬ ﾷ ＮＮＮＭ｡Ｍ

- • --:: \.#tl'- toll •• , .:h2 ｾｸＺ･ｮｳｩｯｮ＠ Services

(DIS3UN} as S2c:--e:ary, :he Head of ｓｯｵｾｨ＠ 8engkuiu ｄｩｳｾｲｩ｣ＺＬ＠ a

ｲ･ｰｲ･ｳ･ｮｴ｡ｾｩｶ･＠ of :he Corpora:i6n, ｾｨ･＠ Manager of th2 local branch

of :he BanK, representatives of the oar:icipating smai1hoiaers, and representatives of other provincial government agencies as needed. ihe ｃ｣ｾｭｩｴｴ･･Ｇｳ＠ main functions shall include

a) securing and providing rural infrastructure ､･ｶ･ｬｯｯｾ･ｮｴ＠

ｰｲｯｧｲｾｭ＠ (INPP.ES) reauired for the participating

smallholders within the settlement area of the Proj2c:;

b) arranging for the timely recruitment of ｰｲｯｳｰ･Ｚｾｩｶ･＠

c)

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ｰ｡ＺＭＭＺｾＺｩｰ｡ｾｩｮｧ＠ smaiihoiders;

coo:--dina:ir.g and supe:--vising pa:--:i:ioa:ing s:raa

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1 . no . . 1 ｡･ｾｳ＠

ｾＡＱ＠l1 ""r tt...J ! - . . , - - t t -o,....;.,n,·--1 Ｎ｟Ｌ［ＮＭｾ］ ｾｳｮＭＭＭＭ ﾷ Ｍ ... ｾｉ＠ 0; - ·no ' - - • · \.o.J- 'w"" ｯＬＮＮＮＢｾｯＭＭ _. ＬﾷｮＭｩｵｲＮｾｮ｣＠ ＧＭＱｾＱ＠ _w

-!"'-·1-ｾ＠ - .. ,. ·-0\'or .. ..,or.- ｣ｯｮＧＢ｜ｯ＾ＧＢＭＭｾ＠ \'0

-"""·•-••....&111 ... • :::" Ｍﾷ ﾷ ﾷＭ Ｑ｜ＮＮｾ＠ - - - • Cvl - !

a:--ran;i:1g fer ｾｮ･＠ ｧｲ｡ｾＺｾｮｳ＠ of Hak Miiik ＺｾＺｩ･ｳ＠ DY :ne ｾＬ ﾷ＠ ... o--nr--- ｾｯｮｯｲＭｾ＠ c; ｾ Ｍｾｾｲ ｾ ｾｮ＠ ＮｾＭ ＮＭＭＮＭ｣ＮＭＬ ﾷ ｲＭ｟ Ｎ＠

V , _ _ _..., ｃＮｾ］＠ ｾＭ ﾷ＠ -• ,:.1 • 1'*\'..:•....,. Jl,;. I , ,

--- ..---. -

ｾ ｣Ｎ＠ . ..,. I..,.. ; -...

ｾＭＭ ... . "'= --;:21 11 . ,.Q,...,. . .

:-'a-..1n:: _;,,.,_ nOiu_ . .:>, ano

Section 3.13. Hithout limitation or res-:ric:ion uoon :he

• •

ｾ＠

s • ( c-

I b)· ( 1) ,: • . i II 0 ｾ＠ ..,

prov1s1ons Oi ec:1cr. .. . ;, .\ o. :..n .s 1'"\gr_em_n",

shall ensur-e

----

_{ＭＭ ﾷ ﾷｾｉＮＮ＠} a:: i '.'i :i ;s of its ｡･ｰ｡ｲｾ･ｮｴｳ＠ ana ager.:ies

\·lith res ｯ･｣ｾ＠ :o :ne :arr-yi ng ou: of Projec: and · operation of the Project Fa:ili:ies are condu::ed and coordinatea ｩ ｾ＠ ac:crdance w1:n sound ｡｣ｾｩｮ ｩ ｳＺ ｾ ｡ｾｩｶ･＠ ｾｯｬｩ｣ｩ･ｳ＠ arid prc:etures.

- .. "' • L

;:,ec: 1 en ｾＮＡＮ＠ .•

-x ...

:. _'--':"---ｾＬＮＮﾭ as :ne Borrower and the Fund shall

othen-lise agr.ee, the Borrower snall e.nsur: : (a) that each pres-pective Settler is promptly given access to about 1 hectare. of

land for house, garden and foodcrops, and {b) that each Settler receives within three years after settlement ｾ＠ Mi'l i k to 2 hectares of planted oi1 palm and an additional area for a ｨｯｵｾ･＠ lot, garden and foodcrops to give a total of about he:tares, subject,

how-•

･ｾ･ｲＬ＠ to retention by the Bank of the Hak.Milik Certificate . as

described in S.:hedu1e ·,' .. 1) to this Aarcomo,..-_{- .---· -·! ... ,} ｳｾＭＱＱ＠ tiCi • ｯｯｲＬﾷｯｾｩＭｾＱｬｶ＠. - '-'= \..- .,

•nc. _{,_ , , _ . _._ ,} ｦｬＢ｜ｾＮＬＮＮ［ＺＢＧ｜ｾｾＮＺｾＢＢ＠ _{I .... , •• • - • • - •} .... ｾ＠ r:-.-.

- .. ; ....

c:;.----:.o"""... _{Ｚ｟ Ｎ ｾＬＭ} ;:l·nr. _ｾ＠

:;. ; :... ...

ＭｾＭｯＮＮＬＮ＠ ,..""'.-'\su·t---.:o·n \ .

...c....

··· -· ·

Ｎ［ ﾷ Ｍｾ＠

·; n :ne .-::I

. ...

--

c: ｾ＠ of any 5e::1er found to ｨ｡ｶｾ ﾷ＠ oeen ｡Ｚ ｦ ｩＺｩ･ｮｾ＠ in _{ｩＧＺｾｳ＠}

.·in the ar;a being cie'.'eic:>ed or .i.n ｾｨ･＠ r.usbancry of his 1anc. ｬﾷ ［ｩ ｾｮｯｾｲＮ＠

., ,· ,...:-.: .. 0 •n- ＢＧ Ｐ ＢＧ Ｐ ＢＢＭｾ＠ ;:_\1 ,.,.: -n· .0 -=orono,··n,. - ·nc '"-o ... 0\10r ｳＭ｡ｬｾ＠ r.

except as othe!"'wi se mutually agreed oet\veen the Borrmver and tne rund, issue any certificate· evidencing Hak r1il ik in resoect

of land to any Settler ·who has so oeen found deficfen:.

Sec: ion 3.16. T ne Borrm·1er sha 11 cause tne impon:ed goocs financed cut of :he proceeds of the Loan to be insured ｡ｧ｡ｩｮｳｾ ﾷ＠

ｮｾｺ｡ｲ｣ｳ＠ incident :o ｴｨｾ＠ ｡｣ｱｵｩｳｩｴｩｯｾＬ＠ Ｚｲ｡ｮｳｾｯｲＺ｡ｴｩｯｮ＠ and delivery

thereof :o· tne piace of use or ir.sta11a:ion, and ior su:n insurance, any indemnity shall be payable in a currency freely useable by the Borrower to replace or repair such goods.

Section 3.17. The Borrower shall cause all goods and services financed out of the proceeds of the Loan ｾｯ＠ be used exclusively in carrying out the Project.

Section 3.18. The Borrower shall :

(a) maintain, or cause to be maintained, records adequate to monitor the progress of the Project (including the cost thereof),

to ｩｲｩｾ＠ ... T";T" +ho c_nn,_·_c and _c:ervices financed out of ｴｨｾ＠ proceeds of

·.--·· .... 'J .- · · -

-ｾｨ･＠ Loan ｾｮ､＠ ｾｯ＠ disclose the use thereof in the Project and :o

ｲ･ｾＱｾＺＺ＠ all :ne ｯｯ･ｲ｡ｾｩｯｲＮｳＬ＠ resources and expenditures in rescec:

0 -,- ... v i i -ＬＮＬｾ＠ o-o ,. , 1 ... - - " " ' ) o .--.

ｬＢＮＺ＾ｮｲｯｳＮＺ＾ｲＮｾ］ＭｾＢＺＺＺＺ｣ＺＺ＠

I - :-' - - I I W\oA . . I ' - - :o vi5i: tne

..

ｦ｡｣ｩ［ｾＺｩ･ｳ＠

and cons:ru::ion si·tes included in :ne ?rojec: and ｾｯ＠ ･ｸ｡ｾｩｮ･＠ :ne

(c) furnish or cause to be furnished, to the Fund at regular ｩｮｴ･ｾｶ｡ｩｳ＠ all such 1nformation as the· Fund shall reasonabiy ｲ･ｱｵ･ｳｾ＠ 'oncerning the ｐｲｯｪ･｣ｾＬ＠ i:s ｣ｯｳｾＬ＠ and where appropriate, the ｢･ｮｾｦｩｴｳ＠ to be . derived therefrom,

tne ･ｸｰｾｮ､ｩｾｵｲ･ｳ＠ of the proceeds of the Loan and the gooas

I

I

..

',.._I,., - IV

ＮｾｲＺｴ＠ l..-:..

＿｡ｲＺｩｾｵＱ｡ｲ＠ Covenants

ｓ･｣ｾｩｯｮ＠ 4.0!. The Sorrower unaer:akes :o :

ｾ｡Ｉ＠ ･ｾｳｵｲ･＠ Ｚｮ｡ｾ＠ no new agricultural ｡ＺＺｩｶｩｾｩ･ｳ＠ ｷｮＱｾｮ＠ may

. I

oe ;:>;ejud i :c.l ｾＰ＠ :ne ｐｲｯｪ･Ｚｾ＠ sha 11. be a 11 0\·.'ed iII the ｾｲ｣ｪ＠ e:: and

(b) cause :ne ＿ｾｯｶｩｮＺｩ｡ｬ＠ ｇｯｶ･［ｮｭ･ｮｾ＠ or SengKu1u ｾｯ＠ ･ｸｾ｡ｮ｣＠

servi:es for ｨ･｡ｬｾｨ＠ and ･､ｵ｣｡ｾＱｯｮ＠ and ｾｯ＠ supply tne ｲ･｡ｵｩｲ･ｾ･ｮｴｳ＠

of the Smallholders unaer the ｐｲｯｪ･ＺｾＮ＠

Section ＴＮＰＲｾ＠ The Borrower shall cause :

(a) the Corporation· to employ an adequate member of ｳｾ ﾷ｡ｦｦ＠

as ｡ｧｾ･･､＠ between the Dire:torate General of ｅｳｾ｡ｴ･ｳ＠ and the Corporation, and at ieast one member of each ｰ｡ｾｴｩ｣ｩｰ｡ｴｩｮｧ＠

Sffia11hoider's famiiy during the first three years after planting, and additional casual labor as and ｷｨ･ｾ＠ required, in accoraance

prac:ices and procedures; and

tb) the CorGorc.:lon to purchase from Settlers at a price cie:e!iiiined in ac:orc=.n:e viith :ne principles set out in the

Small-:.eveic::-:1en: ail

ｓ･ＺＺｩＺｾ＠ :o s e 1 1 :o ::1e :o:--;:>orc.: ion

a: a price ae:errr.1nea as aforesaid a: i ｾｾｳｴ＠ ｾｮ･＠ ,...u:::n-.;-v ＧＢＧＭＬｾ＠

ｾ＠ '- ＧｾｉＢＢＭ V

oil ｾ｣Ｎｾ＠_ｾ＠ 1m rc_n_u,·rc_a· 70 • ｣Ｎｾｾ＠ ... ｯｾ Ｎ＠ ｾＮ［ｾＭｾ- Ｐ｟＠ n· 1.5 ｡｣ｾＭ _;_, 1,. ｏｾｾｾｇ｣Ｎｾ［ｯｲＮｳ＠ ..1 I I - ｾ＠ o , o

Section 4.03. The Borrower shall cause the Corporation

all times to manage its ｡ｦｦ｡ｩｲｾＮ＠ maintain ｩｾｳ＠ ｦｩｮｾｮ｣ｩ｡ｬ＠

ition, plan its future ｾｰ｡ｮｳｩｯｮＬ＠ and carry out i:s

opera-Ins, all in accordance ｾｩｴｨ＠ sound agricultural businesl,

.

.

ｊｩｮ･･ｾｩｮｧＬ＠ environmental and financial prac:ices and under

? supervision of experienced .and competent management and

＾･ｲｶｾｳｯｲｳＬ＠ assisted by qualified staff in adequate ｮｵｭ｢･ｾｳＮ＠

Section 4.04. The Borrower shall cause the Corporation

{a) to take all steps necessary to acquire, maintain

j renew all such rights and 1nterest in land and all such

1er rights, ｰｯｾ･ｲｳＬ＠ ·privileges and franchises as are necessary

useful in the conduct .of its business; and

(b) at all ' times to operate and maintain i:s installatiqns,

Jipment and other ｰｲｯｰ･ｲｴｹｾ＠ and promptly as required,to make

1 necessary repairs and renewa 1 s thereof, . a 1'1 in accordance \-ti th

Jnd agricultural, business and enginee·ring practic·e·s.

Section 4.05. Except as the ｦｾｮ､＠ and the Borrower shall

herwise agree, :he ｃｯｲｰｯｲ｡ Ｇｴｩｾｨ＠ shall not s:ii, leas: or otherwise

spose of any of ｩｾｳ＠ assets which shail. be required for :he effi7

ent carrying out of its opera:ions or tne disposai or v:ni:h r;.c:y

ejudice the ability of the ｃｯｲｾｯｲ｡ｴｩｯｮ＠ to pe;foi.Tl sa:isfa:torily any

I

I '·

Sec:icn 4.06. The 5orrower shall review the cash flow Qf :ne Coroora:ion ･ｶ･ｾｹ＠ year and snall make arrangements to ensure tnat :ne ｃｯｲｾｯｲ｡Ｚｩｯｮ ﾷ＠ distribu:es ､ｩｶｩ｡･ｮｾｯｮＱｹ＠ in the event :nat 5u:h review aemonstrates tha: such dividends may oe distributed

v:i:n::J: ｩｲＺ［｣Ｎ｣ＮｩｲｾｮＹ＠ the Corporc.ticn•s aoiii:y :o c=.rry out i:s

·-- ,-,or--1·0 c

1 w::l .o:..r_, c.. n .. '

oaian:es.

Se:tion 4.07. The Borrower shall cause the access, main and vi 11 age roads and other vi-11 age infrastructure fac i1 it i es

included in the Project to be maintained in accordance with sound engineering ｰｲ｡｣ｴｾ｣･ｳ＠ and shall make available, or cause

to be made available, promptly as needed, sufficient funds and facilities for the purpose.

Se:: ion 4. OS-. The Borrower sha 11 cause the Corporation to take out and maintain with responsible insurers,or to make other

ｰｲｯｶｾｳｩｯｲＮ＠ sa-tisfa:t::>ry to :he Ft!r:c for ＱＭｲＮｳｴＡｴｾｲＮＺ･＠ ｾｧ｡ｩｮｳＺ＠ su::-:

risks and in such amounts as snall be consistent with ｾｰｰｲｯｰｲｩ｡Ｚ･＠

pra::ic:.

Se::ion ｾＮＰＹＮ＠ The aorrower snal1 ｾ｡ｩｮＺ｡ｩｮ＠ or :ause Ｚｾ＠ be main:c.in:c re:ords adequa:e :o ref1ec:, in ｡ＺＺｾｲｾ｡ｮＺ･＠ ｾｩＺｨ＠ ｳｾｵｾ､＠

pra::ices, the opera:ions, resour:es and expendi:ures ｾｯ' - I C . -ｾＭ ＭＬﾷｲＮｾ＠ •-: -o -no 1. w l . , , ｾｾ｣ｊﾷｯＭ＠ _,__, 0: I -no :.. - ｲｮｾｾｯｾＭＭＭＬﾷｯｮ＠"'"" ' ..., C.- anri o-,- any cooar-mon-- - . ....;,;_,I.

Section 4.10. The ｂｯｲｲｯｷｾｲ＠ shall cause the . Corporation to

a) have its acco·unts and ·fi nanci a 1 s.tatements ( ba 1 ance

sheet, statement of income and expenses, and related

state.'llents} audited· an11ually, in accordance \'lith sound

ｾｵ､ｩｴＢｩｮｧ＠ principles;

b) furnish to the Fund as soon as available, but in any

case not later than nine mo11ths after the close of the

fiscal year to which they relate, certified ｣ｯｰｩｾｳ＠ of

such ｡ｵｾｩｴ･､＠ financial statements and the report of the

｡ｵ､Ｑｴｾｲｳ＠ relating thereto; ·and

c) furnish to the Fund such other information concerning

the accounts and financial statements of the Corporation

and the ｡ｵ､ｩｾ＠ thereof ｾｳ＠ the Fund shall from time to time

reasonably request.

Section 4 .. 11. The Borrower shall .furnish to the Fund quarterly

reports . on the execution of the Project and on the operation and

ｭ｡ｮ｡ｧｾｾ･ｮｴ＠ of the ｾｲ･ｪ･｣ｴ＠ Facilities. Such reports shall be

sub-ｭｩｾｴ･､＠ in s.uch form and in such detail and \'lithin .such

a

period as

the rund shall reasonably request, and shall indicate, among other

things, progress made and problems ･ｮ｣ｾｵｮｴ･ｲ･､＠ during the quarter

under revie\·1, steps taken or proposed to be taken to remedy these

problems, and proposed program of activities and expected. progres?

ｓ･ＺＺｩｯｾ＠ 4.12 (c). The Borrower and the·rund confirm tneir agree.ment ｾｨ｡ｴＮ＠ no other external debt shali enjoy any

ｾｲｩｯｲｾｾｙ＠ over :ne Loan oy way of a lien ｣ｲ｡｡ｾｾ､＠ on

govern-ＺＺＮｾｳＭＭＭ

ｾＮＺＮ＠ =-.:.. To tna: ｾｮ､Ｌ＠ the 3orrower ｵｮ､･ｲＺ｡ｾ･ｳ＠ ｾｮ｡ＺＬ＠

0-nor.,,. -o w 1 - ' ,• _;) - an ... c.c --= I - - ' if any iien snc.ll

ｾ］ＭｾＭＭＭＭ｡ﾷＭｾ＠ -ftv --- ｾＭＮＭ :r: ｾｾｾＮｾＮ＠ ｾﾷｾﾷＱ･ｲ＠ ＭｾｾＭ Ｍｾｾ｟ｲ｟ＺＡ＠ ... , ｾＮＺｹ＠ -,-or ｾｮｹ＠

-- -·::=. ... :: V I I .::,..,w ｃＬＺＮＮＮＩＺ｟ｾＺ［ＬＭ ... ｾ＠ .:;_ "-' ' - - - - ｾ＠

･ｸＺ･ｲｾｾＱ＠ de::, ｳｾＺｮ＠ ｬｩ･ｾ＠ wiil ｩｾｳｯ＠ fa::o and at no cos: to

the ｲｵｾ､＠ equally and ratably secure the payment of the

prin-cipal of the Loan, the Lean Charge and other charges on the Loan, and that 1n the creation of any such lien express

provision will be made :o that effect.

(b) The under:aking provided for 1n Paragraph (a)

of ｾｮｩｳ＠ Sec:ion snall no: appiy to

1)

any lien created on property, at the time of our:hase thereof, solely as security for the

ｯ｡ｹｭｾｮｴＮ＠ of ｾｨｾ＠ ｯｾｲ｣ｨ｣Ｎｳ･＠ orice of such property;

2 j any ;· i en on ＺＺＺｲＮＺｮｾｲＺＺＺｩ＠ a i gooas t.o secure a debt

ｾ｡ＺｾｲＱｮｧ＠ nG: ｾｯｲ･＠ than one year af:er the daie

on \':ni:h , ... i's ｯｲｩｧｩｾ｡ｩｩｹ＠ ｩｮＺｾｲｲ･､＠ and to oe

ｾｾｩ｣＠ out. of :ne. pro:ee2s of :ne ｳ｡ｾ･＠ of such

3) any lien arising in tne orainary course of banking transactions and securing a debt

maturing not more th?.n one year after its date.

(c) As used in this Section, the term "governmental asse!s" r.1e!ns assets of the 'Borro\':er, of 'any political or

ｾ､ｭｦｮｩｳｴｲ｡ｴｩｶ･＠ subdivision thereof and of any entity owned

or .controlled by, or operating for the account ·or the benefit of, the aorro\·:er or any such ｳｾ｢､ｩｶＮＧｩｳｩ Ｎ＿ｮＬ＠ including gold and

foreign exchange assets held by any.'· institution performing the functions of a central bank or exchange stabilization fund, or similar functions, for the ｂｯｲｲｯｷｾｲ＠ ..

Sect ton 4.13. The Borrm·1er undertakes to make a Co;:u11ernorative Plaqlfe of suitable dimensions· from cement or any suitable metal to be fixed in a ｣ｯｮｾｰｩ｣ｵｯｵｳ＠ place in one of the f!ci1ities included in th! ｐｲｯｪｾ｣ｴ＠ to show the contri-bution of the Fund in the financing of the Project.

Section 4.14. ｐｲｯｾｰｴｬｹ＠ after the ｣｣ｾｰｬ･ｴｩｯｮ＠ of the Pro-jsc:, but in any event not later than ｾｩｸ＠ months after the

Clcsing Date, or such later date ·as the Fund may agree fbr this purpose, the Borro\'ter sha 11 prepare and furnish to the · Fund a Project ｣ｾｾｰｬ･ｴｩｯｮ＠ report, in such

a

reasonable form and ､･ｴｾｩｬ＠

:ne!'"efrcrr:, the per7crl7ian:e by the Borrower of' its

obiiac-:icns unae!'" :he Loan ａｧｲ･･ｭ･ｮｾ ﾷ ｡ｮ､＠ achievement of the

ooje::ives cf :n: _oan.

;

Section ·5.01. ｾｯｲ＠ the purposes of Section - 6. 02 or the General Conditions, the following additional events

ｓ ｮｯｲｾ＠ .;1· ori

ｾＧＭＮ｟＠

..

--

pursuant to ｐ｡ｲｾｧｲ｡ｰｨ＠ (f) thereof :

First : a) Subject to Paragraph (b) of this Sub-Section 1) the right of the Borrower to withdraw

the proceeds of any loan made ｾｯ＠ it for the financing of the.;Proj ect sha 11 have

been suspended, cancelled or ｴ･ｾｩｮ｡ｴ･､＠

in \oJhole or in part, pursuant to the tenns

07 the ｡ｧｲ･･ｭ･｟ｴＮｾ＠ .pi0\'1 ｾ＠ i ng therefor, or

2) any su:h loan sha11 have become due .and payaole prior :o tne agreed mattJrity tnereof.

:.::. ··:: r:.-::: Orl

' ·"'"' · ｴＮＮｾﾷ＠ - . (a) of : his Se::ion sha11 net apply

.

_'(

·if :he Borrower es:ablishes :o :he sa:is7ac:ion of :he ｾｵｮ｡＠ tna: (l) such suspension, can:ella:ion,

... Ｍ Ｌｾ＠ :..·· ... ｟ﾷ ｾ＠ r..o ... , r0\'1°-r ｾＰ＠ r,".,._ o ... ｾＮ＠

v - 0 ... :- - · • ', •. . any of i :s

Su ... ｾｮﾷ＠ _ｾＺ｡＠o."r!lcr · --·· _{Ｍｾﾷﾷ ﾷ Ｍ］ ＠ .... :} :.nd _ｾ＠ {?) _{,_}

available

.... -.- ·::.r.,;_ ＺＮＺＮｾｴﾷ＠ ... , C•·, .. c_r unc·a_r 7.n· 1 ••. 5 Ｂ ｾ ﾷ ﾷﾷ＠ ｾＭ ﾷ Ｍ ....

-v - --- -; ｾＭ］Ｚ］ｾｾｾ ﾷ ｾＮＱ＠

....

S9.co:1div : a) 1r:: ｾﾷｃＺＢＺＧｏ｜ﾷ Ｚ ･ｲ＠ ...,r any other c.t;::.n·Jrity having

ｪｵｾｾｳ､ｩ｣ｴｩｯｮ＠ shalJ have taken any action for

the dissolution or disestablish2ent of the

C c r p ｯｲｾｾ＠ i o ｾｾ＠ , or for the s u s per. s i on of all or

any operations of the Corporatior..

b) The Corporation shall have ｢ｾＲｾ＠ unable to pay i:s .jebts ｡ｳ ﾷ ｾｮ･ｹ＠ mature or c11y action or

pro-｣･･､ｩｾ［＠ sna11 have been taken ｾｮ･ｲｾ｢ｹ＠ any of

i:s ｾｲｯｰ･ｲｴｩ･ｳ＠ shall or m2y be ､ｾｳＺＺＮｲｩ｢ｵｴ･､＠

｡ｭ｡ｮｾ＠ its ｣ｲ･ｾｻｴｯｲｳＮ＠

c) ａｾｹ＠ of the ｡ｾｲ｡ｮｧ･ｭ･ｮｴｳ＠ ｲ･ｦ･ｲｾ･ｾ＠ ｾｯ＠ in ｓ･Ｚｾｩｯｮｳ＠

':'

Ｂ ｾ ＮＧ ＺＮ｜＠

-:-

ｾＺ｟＠

::.)

,..,,....

ｾ＠ ｯｾ＠ Ji) ' o-.· . . . .

.... . ""'' ·. - 1 , ..., . _ . \ . - ....,, ..,. ｾ＠ , ; ::-.;s ｨ ﾷ［ｲ］ Ｚ ＺＭＺＭＺ･Ｚｾｾ＠

;:: - , ... ,... ;:: - ! ) - \• • .: - ｾ＠ ""' ' . ｾ＠

- - 0 - · : : - ""' - \ . . • I ... I ｾ＠v""' ...

ＺｕＡｾ＠ .:u '!"'i-ﾷｾ ＺＢＮ Ｚ＠ ｾ＠ of '""' l" - .... . .

J• c.. . • ｾＮ＠

. 11 . - . - .

C:: • • _. ,.. - ,.. " - - - •"' - - .,.. - I ::l - '"" • G

__ - " :. ｾ Ｍ -::::,;::: ••• ::,••c na\ _ , :. . 1 _c

.

·'

S ... . ･｣ｾＮＱｯｮ＠ ::>. -· - O? For the purposes of Section 7.01 of

the General Conditions, the following event is specified pursuant to Paragraph (d) thereof namely ·any event speci-fi ed in Pc.re:grc.ph First (a) (2) or Secondly of Section

3.01 OT this _r.:: r. Ｂｬｾ＠ o _{-:::a_} ｾＭ Ofi ... _{II. she 1 l occur.}

ａ ＭＭＭ｣ｾＭ_{K I 1 _:: \'} "I

ｾ［ｔＭ Ｐ Ｌ｟ＭＬﾷＮＬＬＺＩ＠ oa•c- ＭＬｯｾＬﾷｮＭ ... ,·o"n

- ' -'"-\.. v_ L.- -1111 CL.

Section 6.01. The follo\'fing events are specified as additional cond{tions to the effectiveness of the Loan Agree-ment within the meaning of Section 12.01 {b) of the General Conditions :

a) the execution and delivery of the ｳｾ｢ｳｩ､ｩ｡ｲｹ＠ Loan Agreement on behalf of the aorrower and the Cor-poration respectively, have been duly authorized or ratified by ell governmental ｡ｾ､＠ :orpcrate actior!s;

b) the Finan:ing Arrangement, in form 2Gd ｳｵｾｳｴ｡ｮ｣･＠

---;--=---,...-.

-o ... no ］ﾷﾷｾ｡ ﾷ＠ s'n:."ll r . :>\1;

Ｚ＾Ｚ［ｾＬＺＬＺＮＺＱＭｷＭＮＮｊＩ＠ v ｾ＠ • • _ 1...,1, t 1- 1•

-•-ＭｾＭ

.:. .. u ､ｳｬｩｶ･ｲｾ､＠ en · behalf of

.

..: ｾ＠ ;... : -...

-

.... ""'"--

.

\•, ! I. II I ;.. ::> -:: , 11 • .) J

ｇｾｉｙ＠ ･ｸ･｣ｾｴ･､＠ and deiivered on cehaif ｾ［＠

-

_{._, ' • 1\.. I • ' -}.. """-...

-. -. , # -. - - -.

- .. .. .

--

. ,.,

..

, .. ,_

•...; I • v•t •••'::

-"-

.... '=

Se::i:n v:

D

.;_...!:lr_

..

-...

:. ,..

-

-··'--r'l.:l

"'" ... or C:inions,

I • \

\ ,:. I ｾｨ｡Ｚ＠ -:."'o-- i l _...,. ＺＺＺ［ＺＢｳｾｇ w • ﾷ ｾ＠1 ... :l,...., J

;:-:ent nave :::>een auly ｡ｵｾＺＱｯｲｩｺ･ｾ＠ by, ar.d ex:cu:ea and

ae1ivered on bena1f of, tne Scrrower and the ｃｯｲｾ｣ｲ｡ｴｩｯｮ＠ respec-:ively, ar.d is legally binding upon the Borrower and tr.e ｃ｣ｲｾｯｲ｡ｾｩｯｮ＠

1n =.c:oraar.ce ﾷＮﾷｮｌＮＺＭｾ＠ i:s ter:ils; (b) that tne Financing Arrange!Tlent

r.c:s ｯ･ｾｮ＠ cuiy ｡ｵｾｲＮｯｲｩｺ･､＠ ':Jy, and executed and del ivere'd

on benalf of, ｾｨ･＠ Ｓｯｲｲｾｾ･ｲ＠ and tne Sank and is legally binding u :Jon tne pc. rt i es tnere::o in c.c:oraar.ce •.·li :h i :3 :el.i!s; and (c)

:nat ::-1e ｾＺＮＱ｡ｬｬｨｯｩ｣ｩ･ｲ＠ Development Agre:.'ilent nas been duly au:hor.ized

-

.,

...,.: , ｾｲｩｃ＠ and .; 0 , , . ,, 0\"'.:ri

"'-

-.

--

on Jenalf of

' •

I

ﾷｾ＠

Sec:ion 6. 03. The· dcte 1 January l987 is hereby

speci-7i:c ror Ｚｾ･＠ purJos:s of Sec:ion . 12 . 04 of the General ｃｯｮ､ｩｾｩｯｮｳＮ＠

ＲｾＺｲｾｳ･ｾＺｾＺｩｶ･＠ ｯｾ＠ :ne Sorrower - Accresses

Se::ion 7.01. The ｍｩｮｩｳｾ･ｲ＠ of Finance of the ·Borrower is

ｾ･ﾣｩ［ｮｾＺ･｡＠ as ｲ･ｾｲ･ｳ･ｾＺ｡ｾｩｶ･＠ ｯｾ＠ tne Sorrcwer fer :he purposes

of ｓｾＺＺｩｯｮ Ｎ＠ ＱｾＮＰＳ＠ of the ｇｾｮ･ｲ｡ｬ＠ Conditions .

ｓ･｣ｾｩｯｮ＠ 7.02 . 1he following addresses are specified

Tel ex

The Sauci ｾｵｮ､＠ for ｄ･ｶ･Ｑｯｾｾ･ｮｴ＠

0

c - . -,..,.,...,

• • • i:)Q), Ｚ［ｾＮＮ＠ • ..,.:. ...

Riyadh l!S23

ｋｩｮｧＺ｣ｾ＠ of Seudi ａｲ｡ｾｩ｡Ｎ＠

S 1'"\vu "'':'"\! L"U'·':--• hu , ::OQ'"' "':-\t::-1 QDM:-"T K u_ ... _ .. ,_, ..

RIYADH

l'T'',..D"••

Q-" .L Ｂｾ＠ Vl'l r ｓ r.u ＢＧＧｄｾ＠ .l 1'"\l\J"\0 ｾＢＢＧＢＧＡａ＠

20114 5 SUi:DOQ SJ

-oR

-w-

soo:"lo·r,...o

:- i I • : . 1 ' ' ' . ｾﾷＮ＠ : . 1 \ •

ｾﾷｾｩｮｩｳｴＡＧＢｹ＠ of Finan::

r l n ｮｩｾｯｲＭｮｾ＠ ｃｾｮｯｾｾＱ＠ ｾｮｾ＠ ｔｮｾ｡ｾＢｾＫｾ＠ ... ｾｾＱ＠

ＭｾＭ

-··----·

--··-·

....

'""''

···--···---·'-'''

...

:,·"n--:l""'' ｴＮｾｾＭＬﾷｾｳ＠

oi..J :::::..w.) , " \ o l ( ; . '

0 0 - _., ?0

. • • jOX :..J _ _,

Jakarta

P.ecJbiic of Indonesia.

:aJie ｾ､｣ｲ･ｳｳＺ＠

lei ex

Jr.'/ r ""'"-:-f\

·.:.I,IV"\K I n , ... DO"--·· ,. I' I : ··' ,. _{\ - . , / a} ·-'I '· _f"\

ＴｾＳＱＹ＠ ｯＺＺ＿ｴｾＺＺｵ＠ IA

IN WITNESS WHEREOf, the parties hereto, ｡ｾｴｩｮｧ＠ .through

ｾｮｾｩｲ＠ ｲ･ｾｲ･ｳ･ｮｾ｡Ｚｩｶ･ｳ＠ thereunto duly authorized, have caused

tnis ａｧｲ･･ｭ･ｮｾ＠ ｾｾ＠ ｾ･＠ ｳｩｾｮ･､＠ in their ｲ･ｳｰ･Ｚｾｩｶ･＠ names 1n tne city ｾｦ＠ JaKarta, ｒｾｯｵ｢ｬｩ｣＠ of Indonesia as of the day and \'C."""' -=,· ...

--... Ｍｾｉ＠ I • .) "' a:ove ｷｲＱｾＺ･ｮＬ＠ in two coun:erpar:s in the Arabic

ｩ｡ｮｧＺ［｡ｧｾＬ＠ :a:r. Gf \'.'r.i:n shall' be an original.

FOR FOR

ThE SAUDI FUND FOR DEVELOPMENT·

By ______________________ _

MOHAMMAD A. ALSUGAIR

Vice Chairman .and Managing Director

THE REPUBLIC OF INDONESIA

By ____________________ _ J.B. SUMARLIN

ｓｃｈｅｄｕｌｾ＠ {

i)

Withdrawal of the Proceecs of the Loan

A. The table below sets forth tne Categories of items to be

ｦｩｮｾｮ｣･､＠ out of the proceeds of ｴｾ･＠ Loan, the allocation of the

amount of the Loan to each Category and :he percentage of

･ｾｯ･ｮ､ｩｴｵｲ･ｳ＠ for tne ｩｴ･ｾｳ＠ so :o oe fintnced . in :acn

1.

2.

3.

4 I

...

...

.

Cateoorv

Amount of the .Loan

ａｬｩｯ｣｡Ｚ･､Ｈｾｸｰｲ･ｳｳ･､＠

in Saudi Rivals) Construction or rehabilitation

of about 3,000 settler houses including ｳ｡ｮｩｴｾｴｩｯｮ＠ and water supply(Part A(3} of ｾｨｩｐｲｯｪ･｣ｴｽ＠

Provision of agricultural machinery and road ･ｱｵｩｰｭ･ｮｾ＠

(Part A(4} of tne Project} Construction or rehabilitation of about 135 ｲｾ＠ of main access roads inciuding the necessary bridoes and culverts

(Part A(7}(a) of the Project) Construction and equipping of

tv1o palm oil .factories including·

ancillary water and power supplies and construction of bulking ｦｾＺｩｬｩｴｹ＠

(?art B(4) of the Projec:)

Provision of Consultancy Services for the two oa1m oil factories

(Part 8(6) ｯｾ＠ the Project)

7,800,000

5,700,000

12,400,000

5C,COC,COO

l, ｾＰＰＬ＠ 000

i;:Ton""r " "'---=..., J

Percentage o Expenditures to be fir.anc

ＶＷｾ＠ of Tota Expenditures

ＱＰＰ ｾ＠ of Iota

ｾｸｰ･ｮ､ｩ＠ tures

ＱＰＰｾ＠ of Tota

::xpenditures

ｬｏｇｾ ［＠ of Iota

::x

Jend i :u res

lOC;o of T cia

c. Provisipn cf Consultancy Services

for engineering and cons:ruc:ioo suoervision for. Part A(7) (a)

(Part C(l) of the Project) . 7. Una 11 ocated

TOTAL

1,200,000 12,800,000 9!,300,000

3. ｬ［｣ＺｾﾷＺｩｴｮｳｴ｡ｮ､ｩｮｧ＠ the provisicns .of Paragraph (A)

｡ｾｯｶ･＠ no withdrawal snall ｾ･＠ made in resoect of

pay-1) ｾｸｾ･ｮ｣ｩｴｵｲ･＠ prior to 31.3.!986;

2) Taxes levied oy, or in the territory of the Borrower on aoods and services, or on the importation, ｭ｡ｾｵｦ｡｣ｴｵｲ･Ｌ＠ procurement or

supply thereof.

C. Notwithstanding the allocation of an amount of the Loan or the disbursement percentages set forth in the table in Paragraph (A) above, if the Fund has reasonably estimated that the amount of the Loan then allocated to any Category will be insufficient to finance the agreed percentage of all expenditures in

that Category, tht ｾｵｮ､＠ r.1ay, by notice to the BorrO\·Jer:

(1) ｲＺｾｩｩ｣Ｚ｣Ｚ･＠ :o su:r. ｃ｡ｾＺｧｯｲｹＬ＠ ｾｯ＠ the ･ｸｾ･ｮｴ＠ requir:: :o m:s: :ne :s:ima::d sncr:fall, proceeds of the Loan which

are ｾｨ･ｮ＠ ｵｮ｡ｩｩｯＺｾｾ･､＠ or alioca:ed ｾｯ＠ ｡ｮｯｴｨ･ｲ ﾷ ｃ｡ｾ･ｧｯｲｹ＠ and

wnich in the opinion of the rund are not neeaed to m:et other

･ｸｾ･ｮ､ｩｴｵｲ･ｳＬ＠ and (2) if such reallocation cannot fully .meet

ｾｨ･＠ est1mat:d shortfail, ·reauce the disbursement percentage tnen appltcabie to ｳｾ｣ｮ＠ ･ｸｾ･ｄ､ｩｾｵｲ･ｳ＠ in order that further

｜ＧＺｾＺｲＮＺｲ｡｜Ｇｴ｣ｩｳ＠ unc:r such ｃ｡ｾＺｧｯｲｹ＠ r..ay continue until all

SCHEDULE (2)

Descriotion of the Project

The Projec: consis;s of the following Parts

:>II...,- ( ｾ＠ )

. ＬＢＢ｜ｾｩ＠ ,, : Smallho1der ｄ･ｶ･ｬｯｯｾ･ｮｴ＠

Smallholder aevelopment in the South Bengkulu

ｄｩｳｾｲｩ｣Ｚ＠ of Be gkulu Province, as iollows :

, Land clear! ·g and establishment of about

6,000 ha of oil paim ·for ｡｢ｯｵｾ＠ 3,000

small-holders and cons;ruction of about 360 Km of

fann tracks including bridges. and cul.verts.

2. Development of about 1,500 ha of land for

houses, gardens and food-croos · for the new settler families.

3. Construction or rehabilitation· of about 3,000

settler houses including ﾷｳｾｮｩｴ｡ｴｩｯｮ＠ and water

supply.

4. Provision of agricul.tural machinery and road

"

equipment.

5. Provision of fertilizers, seeds or seedling, pesticides, and other agrochemicals (in kind

or loans) for food crops for 3,000 settlers

during the first y;ar as well as subsistence loans for se:tlers on newly aeveloped land and issuance of land ownership ｣･ｲｾｩｦｩ｣｡ｾ･ｳ＠

PART ( 8)

o. ｃｯｮｳｾｲｵｾＺｩｯｮ＠ or expansion of a6out 17 viliages,

and ｣ｯｮｳｾｲｵ｣Ｚｩｯｮ＠ or ｲ･ｨ｡｢ｾｬｩＺ｡ｴｩｯｮ＠ of ･ｸｩｳｾｩｮｧ＠

ｶｩｬｬｾｾ･＠ infrastructure, such as, but not

limited to, mosques, markets, community halls, health and, educational ｦ｡｣ｩｬｩｾｩ･ｳ＠ including

the necessary utilities.

7. Construction or ｲ･ｮ｡｢ｩｬｩｴ｡ｾｩｯｮ＠ of; (a) about !35 ｾｾ＠ of main access roads ｩｮｾｩｵ､ｩｮｾ＠ the

ｮ･Ｚ･ｳｾ ﾷ ｡ｲｹ＠ bridges and c:.J 1 ve:--ts, and ( ｾＩ＠ about

7 3 ｩｾＱＱ＠ of pri;r.ary and secondary vii ·l age roads

; n,.. ·, _{• ... .,_} llri ,. nc _- ｾＬＮｮｯ＠ _{,._} no _{- - - -}rae: s;:: ... ., _{'-' J "..}} "r1· nncs _{.... ::-} end ... r u 1 ve:--ts · . _-

-a.

Cons:ruction of about 120 ｾｾｯｦ＠ ｾ｡ｩｮ＠ collec:ion roads including the necessary bridges

and cui verts·.

Nucleus Estate Develooment

Nucle:.Js estate development by the Cor.poration in the South Bengkulu District of Bengkulu Province, as follm'ls :

1.

Land clearing and establishment of about

,

2,ooo·

na of oil paim .including nurseries and construction of about 120 Km of farm ｴｲ｡ｾｫｳ＠ including

bridges and ｣ｵｬｶ･ｾｴｳＮ＠

? - rf"lolf:t- ... ｯｯｲｾｩｦＢｬｮ＠ ｦＢｬｾ＠ ｏｃＧｾＲＧｩＭｏ＠ ｨｦＢｬｬｬｴＢｾｮＬＮＬ＠ ,...,.,,...,,...0+-.,

vw••• we - - - • • • • w • _ _, ..,_ -..- ••w-w • Ｌ｟Ｎｾ＠ J ....,..., ... ., ... 1 '-J

facilities and other buiidings. \·litn sanitation, water and power supplies.

3 . Cons:r:.Jction of about ＱＴｾ＠ Km of ｭｾｩｮ＠ :o11e:tion and viliage roads ｩｮｾｩｵ､ｩｮｧ＠ :he necessary

I

'

l

I

l

I

i

I

I

I

PART (C}

I'

"'! • Ccnstruc-:ion of tv:o pc:1m oil

fa:tories - 2C ton ｆｴｾｳｮ＠ Frui-: 3unches per hour (Ft5/hr) capacity in Taio -subais:rict and 40 ton FFB/hr capacity in Seluwa subdistrict -including ancillary \-Jater and po\'Jer supplies end construction of bulking facilities.

5. Procurement of venicles, roa·d construction equ i pmen ｾＬ＠

agriGultural machinery and .of7ice equipment.

c. Provision of Consultancy services for tne t'l>:o

paim oil ｦ･｣ｴｰｲｩｾｳ＠ for; (a) engineering and construction supervision (b) ｰｲ･ｰ｡ｲ｡ｾｩｯｮ＠ of a training program and (c) technical assistance during initial operation.

7. Training of Personnel. Technical Assistan.ce

1. Provision of ｣ｯｮｾｵｬｴ｡ｾ｣ｹ＠ services for engineering and construction supervision for Part (A)(7). 2. Provision of consultancy services for ･ｮｧｩｾ＠

Deering and construction supervision for Parts (A)(8) and (SJ(3) and preparation of a training pro·g·ram for the civil engineering

staff of the Corporation.

The total cost of the ｐｲｯｪ･｣ｾ＠ is estimated at about US Dollars 69.37 million equivalent to abcut Saudi Riyals 253.20 miilfon.

The ｐｲｯｪ･Ｚｾ＠ ·is expected to be completed oy Decei.lber

·SCHEDULE (3)

ｏｲ｡｡ｮｾｺ｡ｴｩｯｮ＠ and Manaaement Arranuements

1) Smallholder Development

First Director General of Estates (Directorate General of Estates) Overall direction and coordination of the implementation of

..

the ｐｲｯｾ･｣ｴ＠ will be the responsibility of the Director General

of Estates. The Directorate General of Estates will be assisted by, among others, the Team Khusus.

The Directorate General of Estates . will be responsible inter alia for :

1) The approval of Project and village master planning and work programs as prepared by _the Corporation; 2) Overall guidance to the Project Manager (appointed

pursuant·to Paragraph 1 Secondly of this Schedule) and the -Provincial Coordinating Committee (established pursuant to ｐ｡ｲ｡ｧｲｾｰｨ＠ 1 Thirdly of this -Schedule) for Project implementation;

3) obtaining the Borrower's approval of .Project budgets and coordinating Project financing arrangements; 4) advising on ｾｲｯｪ･｣ｴ＠ ｰｲｯｾｵｲ･ｭ･ｮｴ［＠ and

5) ｾｲ･ｰ｡ｲ｡ｴｩｯｮ＠ and execution of thi Smallholder

Development ａｧｲ･･ｭ･ｾｴＮ＠ Secondlv The Project Manaaer

The Project Manager will be responsible to the Directorate General of Estates. For this purpose, the Project Manager

vlill be assisted by a Site Manager and v1il1 be responsible,

inter a11a, for :

a} preparation of · village master plans including siting of villages, houses and water supply; b) preparation of annual budgets and work programs

for all functions under Part A of the Project; c) c·oordination cf the implementati'on of that

part of the Project carried out by the Provincial Government agencies, 1n ｰ｡ｲｴｩｾｵｬ｡ｲＬ＠

.

-··

schools and health services;

d) administration and supervision .of recruited prospective Settlers, land transfers, and allocation of houses, food -crop and tree crop areas;

e) acceptance ·of prospective Settlers as estate laborers and later, appraisal of performance of these ·laborers to be proposed as Settlers;

f) monitoring and reporting on ?reject progress to the Directorate General of Estates, the Provincial Government, and the Fund;

g) coordination of the implementation of the food crop areas development with personnel seconded

ｦｲｾｾ＠ the Directorate General of Food Crops; and

h) coordination with Bina Marga in the

Third 1 v Provincial Coordinating .Committee

Provincial Coordinating C?mmittee shall coordinate the implementation of those functions under Part A of the Project which are within the jurisdiction and responsibility of .the ·Provincial Government,

inclu-ding, inter ｡ｬｩ｡Ｌ｣ｯｮｳｾｲｵ｣ｴｩｯｮ＠ of faci.lities for

schoois and health, arranging for land title and

construction of some vi 11 age infrastructure. For

these ｰｾｲｰｯｳ･ｳＮＬｾ＠ the Prov.incial Coorqinating Committee

ｳｨｾｬｬＬｩｮｴ･ｲ＠ alia,:

a) secure financing for provincial and Kabuoaten high-priority community schemes required for the Settlers within the settlement area of the Project;

b) arrange ·for· rec'ruitment of prospective settlers for the Project to be accepted by the Project

ｍ｡ｮ｡ｧｾｲ＠ as suitable estate laborers;

c) coordinate and supervise Settlers in

non-techn i ca 1 aspects of the Project inc 1 ud i ng

villGge administration, cooperative develop-ment, and other social activities; and

'd) expedite the granting of land title to the Settlers.

F ourtn 1 v On beha 1 f of the SorrO\'Ier, the Bank sha 11 :

a) enter into Sma 11 ho 1 der Credit Agreements v.ri th

settlers about ｴｨｲｾ･＠ years-after planting of oil

palm and obt.aining Hak Milik .for each settler;

b) ma1ntain . smallholder accounts; and

2) Estate Develooment

The Board of Directors of ｴｾ･＠ Corporation (Direksi)

shall be responsibl-e for ｩｭｰｬ･ｭ･ｮｴｾｴｩｯｮ＠ of Part ｾｯｦ＠ the

Project, subject to the ｯｶｾｲｾｬｬ＠ responsibility -for

manage-. .

ment and. coordination by the Hinister of Agriculture and

the Directorate Genera 1 of .

;s

t·a tes.

3) ?roaram Suooort

The Directorate General of Estates shall assist" .the

ｃｯｾｰｯｲ｡ｴｩｯｮ＠ ﾷ ｡ｮｾ＠ Bina Marga in the . implementation of Part

C of the Project.

4) Particioatina Ministr'ies and Aaencies

Ministry ·or Agency ｰ｡ｲ Ｍｾｩ｣ｩｰ｡ｴＱｮｧ＠

Project Comoonent iri irimlemen.tation

Part A - The Directorate General of ｅｾｴ｡ｴ･ｳＮ＠

- The Corporation·

Part

B

0a... C

• I I.

- Provincial Coordinating .C.orranitteP

- Bi na ｾｴ｡ｲｧ｡＠

- Minister of .Agricultare

The Directorate General of ｅｳｴｾｴ･ｳ＠

- The Corporation.

The Dire:torate General of Estates The Corporation

Ｚ［｣ＺＭＺｾｊＡｊｾＺＮ＠ _;;o. 3

::.::-.:>:--t.izaticn Schedule

Payment of Principal

ＡｮＺ［Ｚ｣ｬｬｾ･ｲＮｴ＠ i!Q . De te of Pcvi:lent Ex ores sed in Saudi Rival

.

l. l·:::rcn

,

_-"', ::: Ｑｃｾ＿＠_{_., ...} ｾ＠ _3,QS3,000

c... S=jt!:r::Jer

,

ｾ＠ ::: '"' , ｾＹＹＲ＠ ＳＬＰｾＳＬＰＰＰ＠

'"'

.

ＺＭｾ｣Ｎ＠ r::n 15, 1993 3,043,000

,

ｓ］ｾＺ･ｾｪ･［＠

,

::; !993 3,043,000

....

...-,

- _{r·::!rch 1}

s,

l9S4 3,043,000

ｾ＠

-.

ＺＺＮｾＢＭＺＭ］ＮＭＺＮＺ＾ｲ＠ , = ＱｾＹＴ＠ ＳＬＰｾＳＬＰＰＰ＠

. "'. _{--:J .... -···--} ___ ,

., _"

.

,

-1C:J- _{3 0·}1 3 0'li)

I . ＬﾷＺｾＺＭＭ･ｮ＠ .;. =? , -- .... :::> ' -, ｾ＠ \,.;\.,.

" _Se;Jtember 1 - 100- _3,043,000

c. _{_:::>, -- .... :::>}

9 . i·iarch 15, 1995 3,043,000

10. Septe:r.ber 15 ,_: 199E 3,043,000

ｾｬＮ＠ •,4:::-""'"-h I h,. I \.. !5, 1997 3,043,000

1 2 . _{September 15, 1997 3,043,000}

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