Publication: Magyar Közlöny
Issue: MK-2010-14 (Year: 2010, Number: 14)
Era: contemporary
Section: A Kormány 13/2010. (II. 5.) Korm. rendelete
Paragraph Index: 18

i) ODA: Official Development Assistance. Article 2 Establishment of the framework programme for financial co-operation The Government of the Republic of Hungary, in accordance with its international development co-operation policy, offers a non-refundable official support through interest rate support and grant element, in the form of tied aid credit (disbursed by the Hungarian Export-Import Bank Pte. Ltd. (further on: Eximbank)) with conditions set out in the present Agreement, available for financing high priority development project of Mongolia, nominated in Appendix I. The Government of Mongolia accepts the tied aid credit and, acting in accordance with its own legal system and international obligations, supports the realisation of the present framework programme of tied aid credit by issuing sovereign guarantee or accepts payment obligations equal to a sovereign guarantee issued by the state or any authorised governmental organisation to ensure the repayment of the credit spent and its additional charges. (For the avoidance of any doubt, in case under the individual credit agreement the Ministry of Finance of Mongolia – as the authorised organisation of its Government – shall act as the borrower, the undertaking of the Ministry of Finance shall be deemed to be sovereign under this Agreement.) Contracting Parties express their willingness with respect to the participants of the credit transactions belonging to the present tied aid credit line and will confirm by declarations that pursuant to the provisions of the action statement of the OECD on “Bribery and officially supported export credits” they did not participate in any bribery in relation to the transactions and they are not aware of any corruption. Article 3 Amount of the tied aid credit and its financial conditions The total value of the project financed under the tied aid credit is 25 M USD. The firm commitment arises on the basis of the individual credit agreement concluded between the Ministry of Finance of Mongolia and Eximbank of the Republic of Hungary as stipulated in Article 7 of this Agreement. The concessionality level of the tied aid credit shall reach 35 per cent in accordance with the provision of the OECD Arrangement for “minimum concessionality level”. Tenor of the tied aid credit shall not exceed 17,5 (seventeen and a half) years, which includes maximum 4 (four) years grace period starting form the starting point of credit as defined in the OECD Arrangement, and maximum 13,5 (thirteen and a half) years repayment period of the credit. The disbursement period of the tied aid credit will be stipulated in the individual credit agreement depending on the particular project. The disbursement period for the individual credit shall not exceed 3 (three) years. The interest rate related to the tied aid credit is 0 (zero) percent under this Framework Programme, which remains constant for the whole tenor of the credits. The risk premia related to the tied aid credit under this Framework Programme stipulated in the individual credit agreement will be calculated in line with the OECD Arrangement, and will be officially supported and counted in as a grant part of the associated financing package. Article 4 Utilisation of the tied aid credit The tied aid credit can be utilised for the realisation of project not objected by signers of the OECD Arrangement during the procedure in conformity with the acceptance rules of the OECD Arrangement and the consultation procedure, respectively. Contracting Parties agree that the Government of Mongolia will apply the tied aid credit for project specified in the Appendix I forming an integral part of this Agreement. The selected project will be realised by Hungarian exporter which company shall be registered in Hungary. The financed export realised under the tied aid credit may include the foreign content in cases if at least 50 per cent of the export realised by company registered in Hungary qualifies as of Hungarian origin performed on the territory of Mongolia. The Government of Mongolia or the organisation appointed by it chooses company registered in Hungary (further on: exporter) for realisation of the project specified in the Appendix I, in conformity with its legislation, acting in accordance with the Good Procurement Practice for ODA, and gives the Ministry for National Development and Economy information about its decisions. Article 5 Acceptance procedure The Contracting Parties, for acceptance of the project financed under the tied aid credit as per this Agreement, will follow the procedure below:

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