Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698843844896.pdf (Sierra Leone)
)1 ) t CREDIT NUMBER 5767.SL Proj ect A eement (Smallholder Commercialization and Development Project) 4 INTERNATIONAL D PMENT ASSOCIATION APEX LI]\{ITED Dated Ma t4,z0t6 ENi I t8 q C i:R i{\ i CREDIT NUMBER 5767-5L PROJECT REEMENT AGREEMENT dated March 14, 20 DEVELOPMENT ASSOCIATION ("As ("Project Implementing Entity") ("Project Agreement ("Financing Agreement") of LEONE ("Recipient") and lhe As Implementing Entity hereby- agree as follo 6, entered into between INTERNATIONAL ation") and APEX BANK LIMITED ") in connection with the Financing date between REPUBLIC OF SIERRA tion.
The Associalion and the Project ARTICLE I - GENERAL 1.01.

The General Conditions (as d Agreement) constitute an integral 02.

Unless the contex: :iluires Agreement have ths meanings the General Conditions.

NDITIONS; DEFINITIONS in the Appendix to the Financing ofthis Agreement.

se, the capitalized terms used in this ed to them in the Financing Agreement or I ARTICLE II PROJECT 2.01.

The Project Implementing Entity Project.


To this end, the Project I the Project in accordance with Conditions, and shall provide and other resources required for its lares its commitment to the objectives of the lementing Entity shall carry out Paft A.2.1 provisions of ,\rticle lV of the General as needed, the funds, facilities, services espective Part ofthe Proj ect 2.02.
Without limitation upon the except as the Association ard the agree, the Project Imolementing En Project in accordance with the provi ns of Section 2.01 of this Agre€ment, and ect lmplementing Entity shall otherwise ty shall carry out its Respective Part of the ions ofthe Sche<iule to this Agreement) ARTICLE III TERMINATION 3.01.

For purposes of Section 8.05(c) of provisions ofthis Ageement shall this Agreement.
General Conditions, the date on which the nate is twenty (20) years after the date of ARTICLE iV- REP NTATIVE; ADDRESSES 4.01 .

The Project lmplementing Entity's tative is its managing director.

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:aIursc?l :xaleJ auoe'I Exels'u,!\ole3JJ leeJls rsmqleg g I sl psltrun ('IS) Iw8 xadv s,/0!tug Aupuaureldurl lcafor6 aq1 'tO', LLVZ\Z-\ (JW)tZnSrZ :elrulrsS€l :xalaJ "cueruv Jo sapls polrun ttno7, Jq 'uofurqss/\\ A\NlaarsH8t8l ssy luaudola^aq leuorlzualul :sr sssJppv s.uorlPrcossv aqJ 'z0 n Z. , L t I AGREED at fint above written.
as of the day and year INTERNA ONAL DEVELOPMENT ASSOCIATION By I Representative ( .rvls L?ru^nlt-\ [^h,l t{€,n- Name: Title: APEX BA LIMITED Bv Authori Representative S Name Title: 7 4 SC LE Execution of the Project Implementing ntity's Respective Part of the Project Section l. I ementation Arra m ts A. InstitutionalArrangements Project Officer The Project Implementing Entity s designate a Project Officer, with reference satisfactorv to the Associati for coordinating the implementation l, not later tha-1 the Effective Date to ifications and experience and terms of .
The Project Officer shall be responsible Part A.2.1 ofthe Project.

B. l. ImplementationArrangements The Project Implementing Entity s ("Agricultural I oans") to eligibl ("Agricultural Loans Beneficiaries") Activities") in accordance with the Fi criteri4 conditions and guidelines Operations Manual.

2.
The Project lmplementing Entity shal I provide concessional agricultural loans farmers and producer organizations to implement eligible activities ("Eligible ng Agreement, this Agreement and the out in the Ag cultural Loans Scheme (a) (b) (c) (d) of the Project with due diligence and implement lhe Respective P efficiency and in conformity with appropriate administrative, technical, and social standards and practices, fi nancial, economic, enviro including the provisions o lhe Anti-Conuption Guidelines and the Safeguards lnstruments, and in accordance with the provisions of this A8,reement; (i) procure all goods aad the Project and to be fi accordance with the provis (ii) ensure that all such Purposes of the Proj ect; ces required under tbe Respective Part of out of the proceeds of the Financing,in of Seciroil lll of this Schedule; and and services sre used exclusively for the open and maintain an accoun for depositing the funds ofthe Agricultural Loan Scheme in the name f the Recipient and pay to the Recipient a fixed rate of interest on the unt on deposit in such account from time credited to said ac.ount; to time, which interest shall advanceAgricultural accordance with the P to Agricultural Loans Benqficiaries ln ect Implementing Entity's eligibility t u requirements ard the requ Operations Manual and this ts of the Agricultural Loans Scheme greement; (e) manage the Agricultural provisions of the Anti-C arrangements with Agricu comply with these Gui Safeguard lnstruments; (r) (e) include in their standard Beneficiaries, terms and duration, flexible repaym centum (10%) per annum time, and simple doc disbursement; exercise pr r,dent banking Recipient's relevant nati maragement of lending bus (h) monitor aad evaluale the risk to loan repayments in safeguard against default; Loans Scheme in accordance with the ption Guidelines and ensure that the loan ral Loans Beneficidries require the latter to nes, as well as the requirements of the agreements.
with Agricultural Loans nditions on minimum loan amounts, loan terms, goncessionary interest rates ten per principal amounts outstanding ftom time to ted procedures for application and and practices and adhere to the Iaws and regulations on prudent esses; rmarce of the loan advances and detect me to ensure timely measures are taken to (i) O (k) 0) maintain traiisparent, acc transactions and submit su and complete records in respect of all reports to the Recipient on a regular basis; diligently pursue the reco ofany debt immediately following default; to work with the Recipient' ald staff in the implementation of the Scheme; exercise tiansparency i reporting on progress es disbursed and number and n transactions inciuding providing quarterly y in providing timely information on loans on ofthe beneficiaries.
3. ln the event that on the Closing D in the account referenced in sub-p Entity shall only disburse the bal written approval of the Recipient.

C. Anti-Corruption there are any amounts remaining on deposit h 2(c) above, the Project Implementing after the Closing Date with the prior The Project Implementing Entity Project is carried out in Guidelines.

I ensure that its Respective Part of the with the provisions of the Anti-Corruption \ .a -6 D. i .

2.
2.

Safeguards The Project lmplementing Entity s Project in accordance with the Management Framework ('ESMP) (,RPF).
lf any Supplemental Social and Envi under any of the Safeguard lns appropriate to: (a) prepare (i) such Supp Instrument !n accordance (ii) fumish such Suppl Instrument to the Association adopt such Supplemental Instrument prior to impl I carry out lhe Respective Part of the isions of the Environmental and Social and the Resettlement Policy Framework tal Safeguard Instrument is required ts, the Project lmplementing Entity or as Social ald Environmental Safeguard th the applicable Safeguard lnstrument; Social and Environmental Safeguard review and approval; and (iii) thereafter Social and Environmental Safeguard tion ofthe activities ; and (b) thereafter lake such meas ensure full compliance wit Social and Environmental as shall be necessary or appropriate to the requirements of such Supplemental Instrumeili.
(c) Without limitation upon Agreement, the Project I Safeguards lnstruments incl Environmental Safeguard fumish to the Association the Association, on the lnstrument including the rel Safeguard Instrument, as part (D rneasures taken in including the Suppl I nstruments; other reporing obligations under this lementing Entity shall for each of the ng the related Supplemental Social and regularly collect, compile and in fom, and substance satisfactory to of compliance with such Safeguard Supplementai Social and Environmental fthe Project keports, giving details of: of t.re Safeguards lnstruments al and Environmental Safegulrd I Soci (i, conditions, if any, w the smooth imp including the Supple Instruments; and (iii) remedial measures conditions.
ich interfere or threaten to interfere with tation of the Safeguads lnstruments tal Social and Environmental Safeguard or required to be taken to address such , Section Il.

rt n and Evalua A.
rt n and Evalua A.

Project Reports I monitor and evaluate the progress of the The Project Implementing Entity Respective Part ofthe Project and Project Reports for the Respective Part provisions of Section 4.08 of the General of the Project in accordance with Conditions and on the basis of the ndicators acceptable to the Association and set out in the Agricultural Loans Operations Manual.
Each such Pro_iect Report shall coYer the period of on calendar semester, and shall be fumished to after the end ofthe period covered by such the Recipient not later forty-five (4 ng by the Recipient to the Association ofthe report for incorporation and fo overal I Proj ect Reporl.
FinancialManagernent,Financial ports and Audits The Project lmplementing Entity s and prepare frnancial statements accounting standards acceptable to reflect the operations and financial including the operations, r€sources ofthe Project.
I maintain a financial management system in accordance with consistently applied Association, both in a manner adequate to tion ofthe Ptoject lmplementing Entity, expnditures related to its Respective Pan I have its finaricial statements referred to The Project Implenrenting Entity tols acceptable to the Association, in above, audited by independent auditing standards acceptable to the accordance with consistently statements shall cover the period of Association.
Each audit of these one fiscal year of the Project Imp ng Entity.

The Project Implementing Entity shall ensure tiat the audited nancial statements for each period shall be (a) fumished to the Recipient and Association not later than six (6) months made publicly available in a timely fashion after the end of the period; and (b and in a manner acceptable to the A B. l. 2 SectionlII.
Procurement All goods, works and ssrvices Respective Part c;: r:,: ?roject Financing shall be ;'ocured in Schedule 2 to the Financing for the Pioject lmplementing Entity's to be financed oul of the proceeds of the rdance with the provisions of Section lll of ent.

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