제16154호                             관                보                   2005.12.22. (목요일)

 (b) The interest rate shall be one point five        consulting firms.
   percent (1.5%) per annum;                      2. The eligible source country for the
 (c) The disbursement period shall be                 procurement of goods and services required
   Seventy-two (72) months from the                   for the Project shall be the Republic of
   effective date of the Loan Agreement or            Korea for the foreign currency portion and
   such other period as the Borrower and the          the Republic of Philippines for the local
   Bank agree upon;                                   currency portion. The suppliers of goods
 (d) A service charge of one-tenth of one             and    services        necessary   for    the
   percent (0.1%) of the amount of each               implementation of the Project shall be
   disbursement in case of a direct payment           selected through competitive bidding among
   procedure, or of one-tenth of one percent          Korean suppliers.
   (0.1%) of the amount specified in the          3. The consulting or procurement contracts
   letter of commitment in case of a                  shall be concluded within eighteen (18)
   commitment procedure, shall be collected           months after the effective date of the Loan
   by the Bank. All banking charges and/or            Agreement.
   costs for services rendered by commercial      4. Details of the methods and procedures of
   banks in connection with disbursements of          procurement shall be governed by the Loan
   the proceeds of the Loan, repayment of             Agreement.
   principal or payment of interest payable to                            Article 4
   the Bank under the Loan Agreement shall            In the event the funds available from the
   be subject to a banking arrangement to be      proceeds of the Loan are insufficient for the
   concluded    between       the   concerned     full implementation of the Project, the
   commercial banks of the two countries;         Borrower shall promptly make arrangements
   and                                            to provide such funds as are needed.
 (e) In the event the Borrower fails to make                              Article 5
   payment of all or any portion of the               The proceeds of the Loan shall be disbursed
   principal of the Loan or any other amount      by the Bank to the Borrower, or to the supplier
   when due under the Loan Agreement, the         and consultant on behalf of the Borrower, in
   unpaid amount shall bear an overdue            accordance with the progress of the Project,
   charge at the rate of two percent (2%) per     up to the amount of the Loan, and within the
   annum above the interest rate.                 disbursement period specified in the Loan
                  Article 3                       Agreement and in accordance with the
1. The eligible source country for the            disbursement procedure under the Loan
 consulting services required for the Project     Agreement.
 shall be the Republic of Korea and the                                   Article 6
 consultants shall be employed through                Other terms and conditions to be specified
 competitive    bidding       among   Korean      in the Loan Agreement shall be determined

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