관             보
                       제15315호                                                             2003. 2. 5. (수요일)
                      Project A Pengshui Highway Project,            years including a grace period of ten(10)
                      Chongqing Municipality
                                                                     years; 
                      Project B Water Supply Project, Guangde,     (2)The interest rate shall be two point five
                      Anhui Province                                 percent (2.5%) per annum;
                  (2)The Government of the People’s Republic of    (3)A service charge of one-tenth of one percent
                    China, acting through the Ministry of Finance,   (0.1%) of the amount of each disbursement in
                    hereby designates as the Borrowers Bank of       case of a direct payment procedure, or of the
                    Communications for Project A and Agriculture     amount specified in the letter of commitment in
                    Bank of China for Project B and guarantees       case of a commitment procedure, shall be
                    the due and punctual repayment of the            collected by the Bank. All banking charges
                    principal of the Loans and payment of the        and/or costs for services rendered by
                    accrued interest thereon as well as all other    commercial banks in connection with
                    amounts due and payable by the relevant          disbursements of the proceeds of the Loans,
                    Borrower under the Loans. However, any           repayment of principal or payment of interest
                    change of such banks may be made by the          payable to the Bank under the Loan Agreements
                    prior notice of the Ministry of Finance to the   shall be subject to a banking arrangement to be
                    Bank.                                            concluded between the Borrowers and the
                  (3)The Loans shall be denominated in Korean        Korean commercial bank designated by the
                    Won. The amount of the Loans denominated in      Bank.
                    Korean Won shall not exceed the equivalent of  (4)In the event a Borrower fails to make payment
                    four million nine hundred and fifty thousand
                                                                     of all or any portion of the principal  of the
                    US dollars (US$ 4,950,000) for Project A and     Loan or any other amount when due under the
                    four million five hundred thousand US dollars    Loan Agreement, the unpaid amount shall bear
                    (US$ 4,500,000) for Project B, and shall be      an overdue charge at the rate to be specified in
                    fixed at the average of the telegraphic transfer the Loan Agreement.
                    selling rates of Korean Won against US Dollar                      Article 3
                    as quoted by the Bank during the one month     (1)The eligible source country for the
                    period from the 16th day of two months prior     procurement of goods and services required
                    to the month when the first procurement          for the Projects shall be the Republic of
                    contract is signed, to the 15th day of one       Korea. Procurement from the People’s
                    month prior thereto, in accordance with each     Republic of China and/or any third country for
                    of the Loan Agreements to be concluded           Project B may be allowed, with the prior
                    between the Borrowers and the Bank(hereinafter   consent of the Bank, for up to one million
                    referred to as “the Loan Agreement”).            three hundred thousand US dollars(US$
                                     Article 2                       1,300,000) of the Loan amount for Project B if
                  The terms and conditions of the Loans, as well     it is either impossible or uneconomical to
                  as the procedures for their utilization, shall     purchase goods and services from the eligible
                  be governed by the Loan Agreement, which shall     source country.
                  contain, inter alia, the following principles:   (2)The suppliers of goods and services
                  (1)The repayment period shall be thirty(30)        necessary for the implementation of the
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