관             보
                       제14848호                                                              2001. 7. 11. (수요일)
                  (3) The Loan shall be denominated in Korean          Two percent (2%) per annum above the
                    Won. The amount of the Loan shall not exceed
                                                                       interest rate. 
                    the equivalence of Two Million Six Hundred                          Article 3
                    Thousand US dollars (US$2,600,000) and           (1) The eligible source country for the
                    shall be fixed in accordance with the relevant     procurement of goods and services of foreign
                    provisions of a loan agreement to be               currency portion to be financed out of the
                    concluded between the Borrower and the Bank        Loan will be the Republic of Korea, and the
                    (hereinafter referred to as “ the Loan             eligible source country for the procurement of
                    Agreement”).                                       goods and services of local currency portion
                                      Article 2                        will be the Democratic Socialist Republic of
                  The terms and conditions of the Loan, as well as     Sri Lanka.
                  the procedures for its utilization will be         (2) The suppliers of all goods and services of
                  governed by the Loan Agreement, which will           foreign currency portion shall be selected
                  contain, inter alia, the following principles:       through direct contracting with a supplier of
                    (1) The repayment period will be Twenty (20)       the Republic of Korea in accordance with the
                      years including a grace period of Five (5)      “Guidelines for Procurement under the EDCF
                      years;                                           Loan”.
                    (2) The interest rate will be Two Point Five     (3) The goods which contain materials imported
                      percent (2.5%) per annum;                        from countries other than the eligible source
                    (3) The disbursement period will be Thirty         country may be eligible for financing under
                      (30) months from the effective date of the
                                                                       the Loan, if the imported portion comprises
                      Loan Agreement or such other period as the       less than Fifty percent (50%) of the contract
                      Borrower and the Bank will agree upon;           price of such goods. A formula for calculating
                  (4) A service charge of One-Tenth of One             a ratio of such imported portion will be
                    percent (0.1%) of the amount specified in the      prescribed in the Loan Agreement.
                    letter of commitment shall be collected by the   (4) The detailed methods and procedures for
                    Bank. All banking charges and/or costs for         procurement shall be governed by the Loan
                    services rendered by commercial banks in
                                                                       Agreement.
                    connection with disbursements of the proceeds                       Article 4
                    of the Loan, repayment of principal or In the event the funds available from the
                    payment of interest payable to the Bank under    proceeds of the Loan are insufficient for the full 
                    the Loan Agreement shall be subject to a         implementation of the Project, the Borrower
                    banking arrangement to be concluded between      shall promptly make arrangements to provide
                    the concerned commercial banks of the two
                                                                     such funds as shall be needed.
                    countries; and                                                      Article 5
                  (5) In the event the Borrower fails to make        The proceeds of the Loan shall be disbursed by
                    payment of all or any portion of the principal   the Bank to the Borrower or, to the Supplier on
                    of the Loan or any other amount when due         behalf of the Borrower in accordance with the
                    under the Loan Agreement, the unpaid amount      progress of the Project, up to the amount of the
                    shall bear an overdue charge at the rate of
                                                                     Loan, and within the disbursement period
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