제19944호                                 관               보                 2021. 2. 22.(월요일)
                                                 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 Uzbekistan 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 portion of the Loan covering the consulting services
           costs, in case the consultant is selected from among the Korean firms;
     (d) In the event that the Uzbekistan 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 (2.0%) 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 the Republic of Uzbekistan for the local currency portion;
           procurement from countries other than the eligible source countries, if any, shall be set
           out in the Loan Agreement;
     (f) The suppliers of the goods and services necessary for the implementation of the project
           shall be selected through competitive bidding among Korean firms;
     (g) The consultants shall be employed through limited competitive bidding among 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 Republic of Uzbekistan
           on goods and services provided by the suppliers for the implementation of the projects
           under the Loan Agreement shall either be exempted or borne by the Uzbekistan
           Government.
2.   The revision of any principle stated in paragraph 1 above may be made with the mutual
written consent of the Parties and shall be set out in the Loan Agreement.
                                                 Article 4
     Should the Loan allocated to a project be insufficient for the implementation of the project,
the Uzbekistan Government shall take responsibility to provide such funds as shall be needed.
                                                 Article 5
     The Loans shall be disbursed by the Bank to the Uzbekistan Government, or to the suppliers
and/or consultants on behalf of the Uzbekistan Government, in accordance with the disbursement
procedures under the Loan Agreements.

                                                    7