제19249호                                    관               보                  2018. 5. 3.(목요일)
(US$ 200,000,000) remaining under the Framework Arrangement dated December 2, 2011 as well
as the Exchange of Notes dated December 16, 2015.
2.   With regard to implementation of the Arrangement, the Mongolian Government shall be
represented by the Ministry of Finance of Mongolia.
                                                  Article 2
     An EDCF loan for each individual project (hereinafter referred to as a “Loan”) shall be
extended to the Mongolian Government in accordance with the following procedures:
     (a) The Korean Government and the Mongolian Government shall identify potential projects in
        close collaboration with each other, and the Mongolian Government shall submit a list of
        prospective projects to be financed under this Arrangement to the Korean Government;
     (b) The Mongolian Government shall request the Korean Government, through diplomatic
        channels, to extend a Loan for each individual project;
     (c) In case the Korean Government decides to extend a Loan for a requested project after its
        appraisal of the project, the Korean Government shall inform the Mongolian Government
        of its decision through diplomatic channels; and
     (d) Details of each individual project and the Loan amount for the project shall be set out in
        and made available through a loan agreement (hereinafter referred to as a “Loan
        Agreement”) to be concluded between the Export-Import Bank of Korea (hereinafter
        referred to as the “Bank”) and the Mongolian Government.
                                                  Article 3
1.   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 Mongolian Government;
     (b) The repayment terms and the interest rate shall be specified in the Loan Agreement for
        the individual project. General terms and conditions include a repayment period of thirty
        (30) years, which includes a ten (10) year grace period, and an interest rate of zero point
        two percent (0.2%) per annum. Such terms and conditions are subject to change reflecting
        the revision of the country classification, and may be determined in due consideration of
        the characteristics of the individual project;
     (c) No   interest   shall   accrue   for   the   portion   of   the   Loan   covering   the   consulting
        services costs, in case the consultant is selected from among Korean firms;
     (d) In the event that the Mongolian 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 Agreement;
     (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 Mongolia for the local currency portion; procurement from
        countries other than the eligible source countries, if any, shall be set out in the Loan
        Agreement;

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