제17407호                               관             보                  2010.12.17.(금요일)
                                                 Article 2
    An EDCF loan for each individual project (hereinafter referred to as an "EDCF Loan") shall
be extended to the Pakistani Government in accordance with the following procedures:
    (a) the Pakistani Government and the Korean Government shall identify potential projects in
         close collaboration with each other, and the Pakistani Government shall submit a list of
         prospective projects to be financed under the Arrangement to the Korean Government;
    (b) the Pakistani Government shall request the Korean Government, through diplomatic
         channels, to extend an EDCF Loan for each individual project;
    (c) in case that the Korean Government decides to extend an EDCF Loan for the requested
         project after appraisal of the project, it shall inform the Pakistani Government of its
         decision through diplomatic channels; and
    (d) details of each individual project and the EDCF 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 borrower and the Export-Import Bank of Korea
         (hereinafter referred to as "the Bank").
                                                 Article 3
1. Loan Agreement shall contain, inter alia, the following principles, unless otherwise agreed
upon by the Parties:
    (a) the borrower or guarantor of the EDCF Loan shall be the Pakistani Government;
    (b) repayment terms and the interest rate shall be specified in the Loan Agreement for the
         individual project;
    (c) no interest shall accrue for the EDCF Loan covering the consulting services costs, in case
         that the consultant is selected from among the Korean firms;
    (d) in the event that the borrower fails to make payment of all or any portion of the
         principal of the EDCF Loan or 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 EDCF Loan, shall be the Republic of Korea
         for the foreign currency portion and the Islamic Republic of Pakistan for the local
         currency portion;
    (f) the supplier(s) of the goods and services, including consulting services, necessary for the
         implementation of the projects shall be selected from among the Korean firms;
    (g) the procurement and/or consulting contracts shall be concluded within eighteen (18)
         months from the effective date of the relevant Loan Agreement;
    (h) detailed methods and procedures for the procurement shall be governed by the Loan
         Agreement.
2. The revision of any principle stated in Article 3.1 may be made with the consent of the
Parties, and shall be set out in the Loan Agreement.
                                                 Article 4
    Should the EDCF Loan allocated to each project be insufficient for the implementation of the
project, the Pakistani Government shall take responsibility to provide such funds as shall be
needed.
                                                 Article 5
    The EDCF Loans shall be disbursed by the Bank to the Pakistani Government, or to the
supplier(s) or consultant(s), on behalf of the Pakistani Government, in accordance with the
disbursement procedures under the Loan Agreement.
                                                    10