제19664호                                관                  보                   2020. 1. 8.(수요일)
3. The Loan shall be denominated in Korean Won. The amount of the Loan shall not exceed the
equivalent of Five Million US Dollars (US$5,000,000) and shall be fixed in Korean Won in
accordance with the relevant provisions of a Loan Agreement to be concluded between the
Borrower     and     the    Bank   (hereinafter    referred       to   as   the    “Loan   Agreement”).
                                                  Article 2
   The terms and conditions of the Loan, as well as the procedures for its utilization, shall be
governed by the Loan Agreement, which shall contain, inter alia, the following principles:
       (a)     The repayment period shall be forty (40) years including a grace period of fifteen
       (15) years;
       (b)     As a Compact Loan Project which is designed for Korean Small and Medium
       Enterprises (SMEs), a preferential interest rate of zero percent (0%) shall be applied to
       the Borrower;
       (c)     The disbursement period shall be twenty four (24) months from the effective date
       of the Loan Agreement or such other period as the Borrower and the Bank agree upon;
       (d) A service charge of one-tenth of one percent (0.1%) of the amount of each
       disbursement shall be collected by the Bank;
   (e) All banking charges and/or costs for services rendered by banks in connection with
       disbursements of the proceeds of the Loan, repayment of principal or payment of interest
       payable to the Bank under the Loan Agreement shall be subject to a banking
       arrangement to be concluded between the concerned banks designated by the Borrower
       and the Bank;
   (f) In the event the Borrower fails to make payment of all or any portion of the principal of
       the Loan or any other amount when due under the Loan Agreement, the unpaid amount
       shall bear an overdue charge at the rate of two percent (2.0%) per annum in addition to
       the interest rate specified in the Loan Agreement.
                                                  Article 3
1. The eligible source countries for the procurement of goods and services to be financed out of
the Loan shall be the Republic of Korea for the foreign currency portion and the Republic of
Senegal for the local currency portion. Procurement from countries other than the eligible source
countries, if any, shall be set out in the Loan Agreement.
2. The supplier(s) of the goods and services necessary for the implementation of the Project
shall be selected through competitive bidding among Korean Small and Medium Enterprises
(SMEs) that meet the criteria specified by the Bank on behalf of the Korean Government.
3. The procurement contract shall be concluded within eighteen (18) months from the effective
date of the Loan Agreement.
4. Details of the methods and procedures for procurement shall be set out in the Loan
Agreement.
                                                  Article 4
   In the event the funds available from the proceeds of the Loan are insufficient for the full
implementation of the Project, the Borrower shall promptly make arrangements to provide such
funds as shall be needed.

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