제19502호                                       관               보                   2019. 5. 15.(수요일)
                              FRAMEWORK ARRANGEMENT BETWEEN
                   THE GOVERNMENT OF THE REPUBLIC OF KOREA AND
             THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF PAKISTAN
CONCERNING LOANS FROM THE ECONOMIC DEVELOPMENT COOPERATION FUND
                                  FOR THE YEARS 2018 THROUGH 2020
     The   Government        of   the   Republic   of   Korea     (hereinafter   referred   to   as     the   "Korean
Government") and the Government of the Islamic Republic of Pakistan (hereinafter referred to as
the "Pakistani Government") (hereinafter also referred to individually as a "Party" and collectively
as the "Parties"),
     In accordance with the Agreement between the Government of the Republic of Korea and the
Government of the Islamic Republic of Pakistan on the Extension of Loans from the Economic
Development Cooperation Fund signed on February 29, 2000,
     Have agreed as follows:
                                                    Article 1
     The Korean Government shall enable the Pakistani Government to obtain loans from the
Economic Development Cooperation Fund (hereinafter referred to as the "EDCF") up to an
aggregate commitment amount in Korean won not exceeding the equivalent of five hundred
million US dollars (US$500,000,000) for the years 2018 through 2020 to finance EDCF loan
projects, unless otherwise agreed by the Parties.
                                                    Article 2
     An EDCF loan for each individual project (hereinafter referred to as an "EDCF Loan") shall
be   extended     to   the   Pakistani    Government     in     accordance   with   the     following    procedures:


     (a) the Parties shall identify potential projects in close collaboration with each other and make
        a list of prospective projects to be financed under this Arrangement;
     (b) the Pakistani Government shall request the Korean Government, through diplomatic
        channels, to extend an EDCF Loan for each individual project;
     (c) in case the Korean Government decides to extend an EDCF Loan for the requested
        project after appraisal of the project, it shall inform the Pakistani Government of its
        decision through diplomatic channels; and
     (d) details of each individual project and the EDCF Loan amount for the project shall be set
        out in and made available through a loan agreement to be concluded between the
        borrower and the Export-Import Bank of Korea (hereinafter referred to as the "Bank")
        (hereinafter referred to as a “Loan Agreement”).
                                                    Article 3
1.   Each Loan Agreement shall contain, inter alia, the following terms, unless otherwise agreed
by the Parties:
     (a) the borrower or guarantor of the EDCF Loan shall be the Pakistani Government;
     (b) the repayment terms and interest rate shall be specified in the Loan Agreement for the
        individual project;
     (c) no interest shall accrue for the EDCF Loan covering the consulting services costs, in the
        case that the consultant is selected from among Korean firms;
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