제18776호                               관              보                 2016. 6. 8.(수요일)
                                                Article 3
1. The terms and conditions for each individual project shall be specified in each Loan
Agreement to the extent consistent with the Agreement and the provisions of this Arrangement.
Each Loan Agreement shall contain, inter alia, the following principles, unless otherwise agreed
by the Parties:
    (a) The borrower or guarantor of the Loan shall be the Ethiopian Government;
    (b) The repayment terms and the interest rate shall be specified in the Loan Agreement for
        the individual project;
    (c) No interest shall accrue for the Loan covering the consulting services costs, in case the
        consultant is selected from among Korean firms;
    (d) In the event that the Ethiopian Government fails to make payment of all or any portion
        of the principal of the Loan or any other amount due under the Loan Agreement, the
        unpaid amount shall bear an overdue charge at the rate of two percent (2%) per annum
        in addition to the interest rate specified in the Loan Agreements;
    (e) The eligible source countries for the procurement of goods and services, including
        consulting services, to be financed out of the Loan shall be the Republic of Korea for the
        foreign currency portion and the Federal Democratic Republic of Ethiopia for the local
        currency portion; procurement from countries other than the eligible source countries, if
        any, shall be set out in the Loan Agreements;
    (f) The main contractors of the works and services necessary for the implementation of the
        project shall be selected through competitive bidding from Korean firms;
    (g) The consultants shall be employed through limited competitive bidding from Korean
        consulting firms;
    (h) The procurement or consulting contracts shall be concluded within eighteen (18) months
        from the effective date of each Loan Agreement;
    (i) Details of the methods and procedures for the procurement shall be governed by the Loan
        Agreement; and
    (j) All taxes, customs duties and other fiscal charges imposed in the Federal Democratic
        Republic of Ethiopia on goods and services provided by the suppliers for the
        implementation of the project under the Loan Agreement shall either be exempted or
        borne by the Ethiopian Government.
2. The revision of any principle stated in paragraph 1 above may be made with the mutual
consent of the Parties, and shall be set out in the Loan Agreements.
                                                Article 4
    Should the Loan allocated to a project be insufficient for the implementation of the project,
the Ethiopian Government shall take responsibility to provide such funds as shall be needed.
                                                Article 5
    The proceeds of the Loans shall be disbursed by the Bank to the Ethiopian Government, or
to the suppliers and/or consultants on behalf of the Ethiopian Government, in accordance with the
disbursement procedures under the Loan Agreements.
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