Selanjutnya

.....

Slfreditanstalt fur Wiederaufbau
r

6000 FRANKFURT. March 20, 1979

I

Direktorat Jendral Moneter
Luar Negeri
Departemen Keuangan
Jalan Lapangan Banteng Timur 2-4

PALMENGARTENSTRASSE 5-9
TELEFON 0611174311
Maa/Ei/Kar
TELEFON DIREKT 74311 ....... .

Jakarta
Republic of Indonesia

ｾ＠

L

Re: L III b I

DM 30 Million Loan for Smallholder
Rubber Plantation Abai Siat
Loan No. AL 78 65 025

Dear Sirs,
The Loan Agreement entered into between Republic of Indonesia
("Borrower") and Kreditanstalt flir Wiederaufbau ("Kreditanstalt") on March 20, 1979 provides that the following
be determined by separate agreement:
Pursuant to Article 1.2
the details of the Project as well as the
goods and services to be financed from the
Loan;
Pursuant to Article 2.1
the disbursement procedure, in particular the

evidence to be furnished by the Borrower for the
disbursement of the Loan proving the use of the
loan amounts for the purpose stipulated in the
above Loan Agreement;
Pursuant to Article 7.2
the details p ertaining to Article 7.1
(Execution o f the Project) .
T el ex: 41 1352

T el egra mmadresse : Kr edita11 stal E

Deutsch e Bundesbank Giro-Kio. 504 09100

Postschedc-Kto. Frankfurt! M . 498 37-609

2 -

- 2 Therefore , we propose that the following be agreed upon :
I.

Details of the Project as well as Determination of
the Goods and Services
(1)

According to the documentation available to Kreditan stalt and the negotiations held by it with the Borrower ,
the Project comprises the fol l owing measures at the
estimated costs so far used as basis:

P r o j

Measures

Total
costs

e c t
Amount to be paid
from the Loan

million Rupiah

Set-up and operation
of the Project Management
Unit (PMU )

in DM

000*)

439

+ Contingencies for

price increase

170

Plantation
(enlargement
from 2,400 to 7,000 ha/
On Farm Costs)

4 , 752

3,564

18 , 636

+ Physical contingencies

713

535

2 , 798

2,142

1 '6 38

8,566

5,737

30 , 000

+

Contingencies for
price increase

Factory
+ Physical contingencies

1 '1 58

116

+ Contingencies for price

increase

829
10,319

A portion of 75 % of the direct costs for establishment of the
plantation (On Farm Costs) will be financed out of the Loan
(pari -passu financing) .
*) Converted at the rate of DM 1.--

= Rp 191.24

-

3 -

Kreditanstalt is prepared to reimburse 75 % of the
On Farm Costs spent until the Loan Agreement becomes
valid if the Borrower can demonstrate that the costs
are not financed out of grants or other long-term loans.
Grants and long-term loans, in this case especially

funds of German Technical Co-operation with Indonesia,
used for financing of On Farm Costs spent until the
Loan Agreement becomes valid shall be fully deducted
from the total amount to be reimbursed by Kreditanstalt
(75 % of the On Farm Costs).
A precondition of any reimbursement of On Farm Costs
spent until the Loan Agreement becomes valid is the establishment of a project-tied revolving disposal fund
by the Borrower. The funds financed by the Indonesian
side which due to the reimbursement become free again
shall be paid into the disposal fund.
Should th ere be any indica tion of major changes in the
measures sta ted in the above list of project measures or
in the cost estimates, Kreditanstalt shall be informed
without delay. Execution of such measures shall commence
only on the basis of revis ed planning and after Kreditanstalt has given its consent.
(2)

The list of goods and services to be financed from the
Loan shall be prepared on the basi s of the contracts
concluded for such goods and services. Accordingly,

Kreditanstalt shall be furnished with a copy of each
contract.
As far as any measures of the Project shall be executed
under the Borrower's own manage ment and no contracts fo r
goods a nd services have been concluded or as far as services will be rendered by private contractors by order
of the PMU, Kreditanstalt shall receive instead of the
contracts a schedule of the measures planned, broken
down by main cost categories (schedule of measures). Any
costs incurred for general administration in connection
with such works s hall not b e included in the sch edule of
measur es .

- 4 Having c h ecked the contracts/schedule of measures, Kreditanstalt shall transmit to the Borrower numbered
letters stating the amounts which have been reserved
for the financing from the Loan and send him the
"List of Goods and Services"
as supplemented from case to case.
(3) When concluding contracts for goods and services to
be financed from the Loan, the following principles
shall be adhered to by the Borrower:

(a} The payment conditions of the contracts shall be in
line with commercial practice.
(b} To safeguard the advance payments and the due implementation of the contracts , the contracts shall provide for appropriate advance payment and performance
guarantees to be given by banks or insurance companies .
(c} As according to Article 1.3 of the Loan Agreement
no import duties shall be financed from the Loan,
such import duties, if part of the contract value,
shall be stated separately in the contracts to be
concluded for the goods and services and in the
invoices.
(d} It shall be ensured that the goods to be financed
from the Loan are insured adequately and to the
customary extent against transport risks so that
their replacement or repair is possible. Such
insurance shall be taken out in a freely convertib l e currency as far as foreign exchange costs
accruing to the Borrower shall be financed.

-

5 -

(e) It shall be ensured that all contracts for goods and
services , if payable from the Loan , contain a provision to the effect that any reimbursements , insurance , guarantee or similar claimable payments
shall be made for the account of the Borrower to
Kreditanstalt irtto its account No . 504 091 00 with
Deutsche Bundesbank , Frankfurt am Main, with Kredit anstalt crediting him with the amounts entering the
amounts to ｾｨ･＠
Borrower's ｣ｲ･､ｩｾＮ＠
If such payments
are made in local currency they shall be transferred
to a special account of the Borrower in Indonesia;
such account may be operated only with the consent
of Kreditanstalt. Such funds may be re-utilized in
accord with Kreditanstalt for the execution of the
Project .
II.

Disbursement Procedure
The " List of Goods and Services " shall.be the basis for
the payments to b e made from the Loan.
Having fulfilled all contractua l prerequisites for th e
disbursement of loan amounts, the Borrower may avail himself of the Loan in conformity with the progress of the
Project in the following three ways:
The Borrower may apply for reimbursement by Kreditanstalt of the amounts paid by him (Reimbursement Procedure) ;
the Borrower may have the amounts paid by Kreditanstalt
to the beneficiary direct if and when such invoiced
amounts fall due (Direct Disbursement Procedure) ;

-

6 -

if payment by letter of credit of a commercial bank
has been agreed upon Kreditanstalt may be instructed
to reimburse the payments to be made under the letter
of credit (Letter of Credit Disbursement Procedure) .
Kreditanstalt shall not be liable for delays in the disbursement and remittance of loan amounts caused by the
transferring banking institutions. In the case of fault on
the part of Kreditanstalt, its liability shall be limited to
payment of the interest accrued in this context.
The procedures of disbursement from the Loan adopt ed
by the Borrower shall be as follows:
Reimbursement Procedure
(1)

The Borrower shall pay in full the amounts due and
thereafter apply to Kreditanstalt for reimbursement of
such amounts as according to the "List of Goods and
Services" shall be financed from the Loan.

(2)

To avoid frequent disbursement of minor amounts reimbursement shall be applied for quarterly . However, if
the amount to be reimbursed exceeds the equivalent of
DM 200,000.--, reimbursement may be applied for immediate l y.

(3)

Requests for Disbursement of the amounts to be reimbursed shall be filed by the Borrower with Kreditanstalt
in conformity with the attached standard form; such
Requests shall be numbered consecutively and signed by
the ｲ ･ｰｲｳｾｮｴ｡ｩｶ＠
vis Kreditanstalt .

of the Borrower authorized vis - a -

The Requests for Disbursement shall be supported by the
following documents:

-

7 -

(a) Copies of commercial invoices for the goods and services for which reimbursement of costs is requested.
The invoices shall contain the same specifications
as agreed upon in the supply and/or service contract.
Payment in full of the invoices shall be confirmed
to Kreditanstalt, with the date and mode of payment
stated (e.g., cheque, bank transfer).
(b) In the case of works under public ownership and
management and of services of private contractors
a schedule of the works completed, made out in conformity with the "List of Goods and Services" and
stating quantities and values. Such schedul e shall
be signed by the head of the gover nment off ice
responsible for works under public ownership and
management.
(c) The copies of the invoices and schedules shall be
certified by the German Advisers to confirm that
the goods and services so invoiced have been supplied and rendered according to contract and that
payment was due.
(d) In the case of price increases due to a price escalator clause, the certification of the German Advisers
on the invoice to confirm that evidence has been
furnished proving that the contractual conditions
for the application of the price escalator clause
have occurred and that the price increase demanded
is justified.
(e) A declaration to the effect that the goods and services have not already been financed from grants
or long-term loans.

-

8 -

(f) In the case of supplies from abroad, copies of the
shipping documents (e.g., on-board bill of lading,
consignment note, airway bill) stating the name and
flag of the vessel or the type and nationality of
any other means of transport, the kind and quantity
of the goods shipped as well as place and date of
shipment.
(g) As the case may be, copies of the bank guarantees to
be given in accordance with the
ｾｯｮｴｲ｡｣＠

for goods

and/or services, copies of certificates of the progress of work and of acceptance certificates.
(4) For payments which at the Borrower's request are made
by Kreditanstalt in a currency other than Deutsche Mark,
Kreditanstalt shall debit the Borrower with such amounts
in Deutsche Mark as were paid by it to procure such
other currency, inclusive of incidental charges.
Direct Disbursement Procedure
(1) The Borrower having requested disburs e ment, Kreditanstalt
sha ll pay the costs of the project execution to be fi nanced from the Loan and stated in the "List of Goods
and Services" directly to the contractors of the
goods and services for account of the Borrower.
As it has been agreed that the Borrower shall participate in the payment of costs h e shall pay his share not
later than at the time when disbursement of loan amounts
is requested and shall confirm to Kreditanstalt that such
payment was made .
(2) The Borrower shall reques t Kreditanstalt to disburse the
amounts to be financed from the Loan by submitting a request made out in conformity with the standard form
attached h e reto; the Requests for Disbursement shall be
number ed consecutively and signed by the representatives
of the Borrower authorized vis-a-vis Kreditanstalt.

-

9 -

The Requests for Disbursement shall be supported by the
following documents:
(a ) Copies of commercial invoices for such goods and
services as shall b e paid from the Loan in who l e or
in part. The invoic es shall contain the same
specif ications as agreed upon in the supply and/or
service contract.
(b ) In the case of works under public ownership and
management and of services of privat contractors ,
a schedule of the works completed, made out in
conformity with the "List of Goods and Services " and
stating quantities and values. Such schedule sha ll
be signed by the head of the government off ice
res ponsib l e for works under public ownership and
management .
(c ) The copies of the invoices and-sch edules shall be
certified by the German Advisers to confirm that
the goods and services so invoiced have been supplied
and rendered according to contract and that payment
i s due .
(d ) In the case of price increases due to a price escal ator clause , the certification of the German Advisers on the invoice to confirm that evidence has
been furnished proving that t h e contractual conditions for the applicat i on of the price escalator
clause have occurred and that the price increase
demanded is justified.

-

10 -

(e) In the case of supplies from abroad, copies of the
shipping documents (e.g., on-board bill of lading,
consignment note, airway bill) stating the name and
flag of the vessel or the type and nationality of
any other means of transport, the kind and quantity
of the goods shipped as well as place and date of
shipment.
(f) As the case may be, copies of the bank guarantees to
be given in accordance with the contract for goods
and/or services, copies of certificates of the progress of work and of acceptance certificates.
(g) Evidence proving that the Borrower has paid his
share.
(3) For payments which at the Borrower's request are made
by Kreditanstalt in a currency other than Deutsche Mark,
Kreditanstalt shal l debit the Borrower with such amounts
in Deutsche Mark as were paid by it to procure such
other currency, inclusive of incidental charges.
Letter o f Credit Disbursement Procedure
(1) When instructing his bank to open letters of credit, the
Borrower shall take care that the goods and services for
which the documents shall be issued and all other provisions of the letters of cred it are in conformity with
the provisions of the contracts for goods and services.
The letters of credit shall contain the following note:
" German Capital Aid Loan No. AL 78 65 025". Th e l etters
of credit shall stipulate that at least the following
documents shall be submitted:
(a) A copy of the commercial invoice for the commodity
and service to be paid. The invoices shall contain
the same spec i fications as agreed upon in the supply
and/or service contract.

-

11 -

(b) Shipping documents (e.g., on-board bill of lading,
consignment note, airway bill) stating the type and
nationality of the means of transport, the kind and
quantity of the goods shipped as well as place and
date of shipment.
(c) Copies of freight notes if also transport charges
shall be paid under the letter of credit.
(d) As the case may be, copies of tne bank guarantees
to be given in accordance with the contract for
goods and/or services, copies of certifications of
the progress of work and of acceptance certificates.
(2) To enable Kreditanstalt to reimburse from the Loan such
amounts as are payable under the letters of credit, the
Borrower hereby authorizes Kreditanstalt irrevocably to
make the payments stipulated in the letters of credit to
the banks which advise or confirm the letters of credit
(Correspondent Banks) to the contractors of the goods
and services, and to issue the respective Agreements to
Disburse to these banks in accordance with the " General
Conditions of Kreditanstalt fur Wiederaufbau (" Kreditanstalt") for Payments Under the Letter of Credit Disbursement Procedure " attached hereto.
(3) The Borrower shall cause his bank which opens the
letters of credit to instruct the Correspondent Banks
to send Kreditanstalt two copies each of the letters of
credit. The delivery of such copies shall be considered
to be a Request for Disbursement within the meaning of
the Loan Agreement .
By returning to the Correspondent Bank one copy of the
letter of credit bearing a stamp signed by Kreditansta lt, Kreditanstalt shall confirm its willingness to
make payments up to the amount of the letter of credit
in accordance with the above-mentioned General Conditions.

-

12 -

(4) As soon as the Correspondent Bank has received and
checked the documents stipulated in the letter of credit
and has found them to be in order, it shall send Kreditanstalt a Request for Disbursement in conformity with
the standard form attached hereto to which copies of
the documents specified under (1),

(a ) to (d) shall be

attached. The Requests for Disbursement may cover several
payments to be made under one and the same l etter of
credit (collective request).

.

(5) If the Request for Disbursement is found to be in order
Kreditanstalt shall remit the amount requested to the
Correspondent Bank. Such remittance shall be considered
to be a disbursement within the meaning of the Loan
Agreement .
(6 ) For payments which in accordance with the letter of
credit are made by Kreditanstalt in a currency other than
Deutsche Mark, Kreditanstalt shall debit the Borrower
with such amounts in Deutsche Mark as were paid by it
to procure such other currency, inclusive of incidental
charges.
III . Execution of the Project
(1) The Directorate General of Estates (DGE) in the Ministry
of Agriculture, which will charge the Project Management Un i t Abai Siat (PMU) with the execution, is responsib le for the execution of the Project. The timetable and the cost and financing schedule required for
the proper technical and financial execution of the
Project shall be prepared as soon as possible by the
Borrower in co-operation with the German Advisers and
shall be submitted to Kreditanstalt. Such schedule sha ll
show the presumable timing and co-ordination of the
individual project measures and the resulting financial
requirements, by dates and amounts. If any deviati o n
from such schedule becomes necessary in the course of
the execution of the Project Kreditanstalt shall be
furnished with the revis e d sche dule.

- 13 -

(2)

The duties of the German Advisers shall comprise the
planning of the Project, the preparation of the tender
documents, advisory services to the Borrower in connection with the award of contracts for goods and services (evaluation of bids, proposals as to the award
of contract, drafting of contracts), the schedule of
measures to be executed under the
ｾｯｲｷ･Ｇｳ＠

own

management or by private contractors, the supervision
of construction acceptance and operation. The Deutsche
Gesellschaft fur Technische Zusammenarbeit (GTZ) shall
be entrusted with the a.m. duties by the Borrower. GTZ
shall second one agricultural and one commercial expert
as advisers. Details shall be settled in a separate
Financing Agreement in due time before the agreements
in force will expire (May 31, 1979 and December 31, 1979).
(3)

The contracts for goods amounting to annual requirements of an equival ent more than DM 100,000.- - shal l
be awarded in co-operation with the German Advisers
by way of international public competitive bidding.
The tender documents shall be submitted to Kreditanstalt
for comment in due course prior to publication of the
invi tation to tender. Such invitat ion to tender s h all be
published at leas t simultaneously with the other publications in the "Nachr ichten fur Aussenhandel" (N fA ) of
the
Bundesstelle fur Aussenhandelsinformation
Blaubach 13
D - 5000
K

o

1 n

Federal Republic of Germany

-

14 -

under the heading "Deutsche Entwicklungshilfe" (German
development assistance ) . The Bundesstelle flir Aussenhandelsinformation shall be furnished with a copy of
the tender documents through the Indonesian embassy ,
free of charge, prior to publication of the invitation
to tender. Publication in the NfA is free of charge.
The bidding period shall be fixed in such a way as to
give the bidders sufficient t ime to prepare their bids.
(4)

The bids shall be evaluated by way of comparison by the
German Adviser or by the Borrower in co-operation with
the German Advisers. The evaluation of bids and the substantiated proposal for awarding the contract, which
shall bear the certification by the German Advisers or
be accompanied by their separate comments, shall be submitted to Kreditanstalt early enough for it to make its
comments before any contracts are awarded.
Kreditanstalt reserves the right to demand new competitive bidding if it is obvious that the lowest bid considerably exceeds reasonable cost estimates and if such
new competitive bidding can be expected to result in
much cheaper bids.
Prior to the conclusion of a contract for goods, Kredit anstalt shall be furnished for comment with the draft
contract as agreed upon, duly provided with the visa of
the German Advisers . The same shall apply to subsequent
modifying or amending agreements, if any.

(5)

The Borrower shall secure that slashing of plants between the rubber trees will be carried out to ensure
adequate cultivation of the rubber plantation thereby
maintaining a reasonable natural gross cover crop
between the rubber trees/rows.

-

15 -

(6) The Borrower shall until further notice report to Kreditanstalt quarterly on the progress of the Project.
-

Such reports shall cover the points stated in the list
attached hereto (Memo for Progress Reports). The first
report on the state of affairs shall be submitted as
of June 30, 1979. The reports shall be duly countersigned by the German Advisers.
After completion of the Project, the Borrower shall report on its further development. Kreditanstalt shall in
due course inform the Borrower about the details, in
particular the period, to be reported on.
(7) Please send all documents we need for preparing the
comments and approvals agreed upon above so early as to
give us sufficient time for the ir examination.
IV.

The above stipulations may at any time be amended or modifi ed by mutual consent if this should appear us efu l for the
execution of the Project or the impl ementation of the Loan
Agreement. In addition, the provisions of Article 6.3 and 8
of the Loan Agreement shall apply to this agreement accordingly.

Please confirm your approval of the above agreement by signing
in a legally binding form and returning t he enclosed copies
in German and in English.

-

16 -

We enclose herewith copies of the present letter in German and
English asking you to be so

as to forward them (one copy
ｾｩｮ､＠

each) to the Directorate General of Estates in the Ministry of
Agriculture and in due course to the German Advisers .
Yours faithfully,
KREPITANSTALT FUR WIEDERAUFBAU

Signed

Encls .
Standard forms of Requests
for Disbursement under the
Reimbursement and Direct
Disbursement Procedure
Letter of Credit Disbursement
Procedure - General Conditions
Standard form of Request for
Disbursement
Memo for Progress Reports

READ AND AGREED:

Signed

L 0 A N

A G R E E M E N T

dated March 20 , 1979

between

KREDITANSTALT FUR WIEDERAUFBAU

and

REPUBLIC OF INDONESIA

for

DM 30 , 000 , 000 .--

- Smallholder Rubber Plantation Abai Siat -

L

-

-

2 -

Article 1

Amount and Purpose of the Loan
1.1

Kreditanstalt undertakes to extend to the Borrower
a Loan not exceeding
DM 30,000,000.-(Thirty million Deutsche Mark) .

1.2

The Borrower shall use the Loan exclusively to finance
proportionally the On Farm Cost of the Smallholder Rubber
Plantation Abai Siat ("Proj ect ") and primarily to pay
the foreign exchange costs. By separate agreement, the
Borrower and Kreditanstalt shall determine the details
of the Project as well as the goods and services to be
financed from the Loan.

1.3

Taxes and other public charges to be borne by the
Borrower and import duties shall not be financed from
the Loan.

LI.

-

3 -

Article 2

Disbursement
2.1

Kreditanstalt shall disburse the Loan upon request of
the Borrower in accordance with the progress of the
Project. By separate agreement, the Borrower and Kreditanstalt shall agree on the disburpement procedure,
in particular on the evidence to be furnished by the
Borrower for the disbursement of the Loan, proving
the use of the loan amounts for the purpose stipulated in this Agreement.

2.2

Kreditanstalt shall have the right to refuse to make
disbursements after December 31, 1987.

I ,,r,

- 4 Article 3

Commitment Charge, Interest, and Repayment
3.1

The Borrower shall pay a commitment charge of 1/4 % p.a .
(one quarter of one per cent per annum) on undisbursed
loan amounts. The commitment charge shall be computed
for a period beginning three months after the signing
of this Agreement and ending at the respective dates
at which disbursements are debited.

3.2

The Borrower shall pay interest on the Loan at a rate
of 2 % p.a.

(two per cent per annum ). Interest shall

be charged from the dates at which disbursements are
debited to the dates at which repayments are credited
to Kreditanstalt's account specified in Article 3 . 9 .
3.3

The Borrower shall pay the commitment
ｾｨ｡ｲｧ･Ｌ＠

the

interest, and the interest on arrears pursuant to
Article 3 . 5, if any, semi- annually on June 30 and
on December 31 for the half-year then ending . The
first commitment charge shal l be due together with
the first interest payment.
3.4

The Borrower shall repay the Loan as follows:

-

June
December
June
December
June
De cember
June
December
June
December
June
December
June
December
June
December
June
December
June
December
June
December
June
De cember
June
De cember
June
De c e mbe r
June
De cembe r
June
De c e mbe r
June
December
June
De c e mbe r
June
De c e mber
June
De cember
Jun e

30,
31 f
30,
31 ,
30,
31,
30,
31 f
30,
31 ,
30,
31 ,
30,
31 ,
30,
31 ,
30,
31,
30,
31,
30,
31,
30,
31,
30,
31,
30,
31 ,
30,
31 ,
30,
31 ,
30,
31 ,
30,
31,
30,
31,
30,
31 ,
30,

1989
1989
1990
1990
1991
1991
1992
1992
1993
1993
1994
1994
1995
1995
1996
1996
1997
1997
1998
1998
1999
1999
2000
2000
2001
2001
2002
2002
2003
2003
2004
2004
2005
2005
2006
2006
2007
2007
2008
2008
2009

5 -

DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM

731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731,000.-731 ,DOO.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000. - 732,ooo.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,000.-732,00 0.--

DM

30,000, 000.--

== ======= == =======

3•

-

3.5

6 -

If repayments are not at Kreditanstalt's disposal when
due, Kreditanstalt shall be entitled to increase the
rate of interest on arrears to the discount rate of
Deutsche Bundesbank prevailing at the respective due
date plus 3 % for the period beginning with the due
date and ending at the date at which such repayments
are credited. In the case of arrears of interest, Kreditanstalt shall be entitled to claim damages. Such
damages shall not exceed the amount arrived at if interest on arrears were charged at the discount rate
of Deutsche Bundesbank prevailing at the respective
due date plus 3 %.

3.6

Commitment charge, interest, and additions for default
pursuant to Article 3.5, if any, shall be computed on
the basis of a 360-day year and of 30-day months.

3.7

Undisbursed or prematurely repaid loan amounts shall
be set off against such redemption 'instalme nts as
shall fall due last under the repayment schedule except
as otherwise agreed upon in a particular case.

3.8

Kreditanstalt shall be entitled to set off, at its
discretion, payments received against payments due
under this Agreement or under other loan agreements
concluded between Kreditanstalt and the Borrower.

3.9

The Borrower shall remit all payments in no other
currency than Deutsche Mark to Kredi tan stalt ' s account
No. 504 091 00 with Deutsche Bundesbank, Frankfurt am
Main, no set-off agai n st such payments being permitted.

J •

- 7 Article 4

Suspension of Disbursement and Premature Repayment
4.1

The Borrower shall be entitled at any time
{a)

subject to his obligations under Article 7,
to cancel any loan amounts not yet withdrawn;

{b)

to repay the Loan in whole or in part in advance
of maturity.

4.2

Kreditanstalt shall be entitled to suspend disbursement only if
{a )

the Borrower shall have failed to perform his
obligation vis-a-vis Kreditanstalt to make payments when due ;

{b)

obligations under this Agreement or under separate
agreements pertaining to this Agreement shall not
have been duly performed;

{c)

the Borrower shall not be able to prove the use
of the loan amounts for the purpose stipulated
in this Agreement or

{d)

any extraordinary situation shall have arisen which
shall preclude or seriously jeopardize the accomplishment of the purpose of the Loan, the execution
of the Project or the performance of the payment
obligations assumed by the Borrower under this
Agreement.

- 8 -

4.3

If any event specified in Article 4.2

(a),

(b) or (c)

shall have occurred and shall continue for a period to
be specified by Kreditanstalt which shall, however, not
be less than 30 days Kreditanstalt shall be entitled
(a)

in the case of events specified in Article 4.2 (a)
or 4.2 (b) to demand the immediate repayment of all
loan amounts outstanding as ｷ･ｬｾ＠
as payment of all
interest accrued and all other incidental charges
or

(b)

in the case of the event specified in Article 4.2 (c)
to demand the immediate repayment of such loan
amounts which the Borrower is unable to prove to
have been used for the purpose stipulated in this
Agreement.

- 9 -

Article 5

Costs and Public Charges
5.1

The Borrower shall make all payments to be made under
this Agreement without any deduction for taxes, other
public charges or other costs and shall pay any transfer and conversion costs arising in connection with
the disbursement of the Loan.

5.2

The Borrower shall bear all taxes and other public
charges accruing in connection with the conclusion
and implementation of this Agreement outside the
German part of the area of validity of the Government Agreement.

-

10 -

Article 6

Validity of the Loan Agreement and Power of Attorney
6.1

In due course prior to the first disbursement the
Borrower shall furnish Kreditanstalt with evidence
satisfactory to Kreditanstalt proving that the

.

Borrower has met all requirements under his constitutional and other laws for the valid assumption of
all his obligations under this Agreement.

6.2

The Minister of Finance and such persons as designated
by him to Kreditanstalt and legitimized by specimen
signature authenticated by him shall represent the
Borrower in the implementation of this Agreement. In
the event that a change in the representation shall
occur the person authorized to represent the Borrower
shal l notify Kred ita nstalt of the newly designated representative and of his address. The power of attorney
shall expire o nly when its express revocation by the
representative authorized at the time shall have been
received by Kreditan stal t.

-,

6.3

Amendments of, and additions to, this Agreement as
well as any notice or statement which shall be given
or made under this Agreement by the contracting parties shall be in writing. Any such notice or statement shall be deemed to have been received as soon
as it shall have been delivered at the fol l owing
address of the contracting party or at s u ch other
address as notified to the other
｣ｯｮｴｲ｡ｩｾＮ＠

party:

ｉｮｾ＠

-

11 -

For Kreditanstalt:
Postal address:

Kreditanstalt fur Wiederaufbau
Palmengartenstrasse 5 - 9
D - 6000 Frankfurt am Main
Federal Republic of Germany

For the Borrower:
Postal address:

Direktorat Jendral Moneter
Luar Negeri
Departemen Keuangan
(Directorate General for
External Monetary Affairs
Ministry of Finance)
Ja l an Lapangan Banteng Timur 2-4
Jakarta I Republic of Indonesia

Any change in the above addresses shall be effective
only when notification thereof shall have been received by the other contracting party.

-.

- 12 Article 7
The Project
7. 1

The Borrower shall (a)

prepare, carry out, operate, and maintain the Project by the Directorate General of Estates of the
Ministry of Agriculture in conform,i ty with sound
financial and engineering practices as well as
substantially in accordance with the plans and
data submitted to Kreditanstalt;

(b)

assign the preparation and supervision of the Project to Deutsche Gesellschaft fur Technische Zusammenarbei t

(GTZ) and the Project's execution to

qualified firms and/or private contractors domicil ed
in the project region. The awarding of contracts is
governed by the following rules:
- contracts for the supply of goods corresponding
to annual requirements of an equivalent of up to
DM 20,000.-- as well as for services may be
awarded directly;
- contracts for the supply of goods corresponding
to annual requirements of an equivalent of
DM 20 , 000.- - up to DM 100,000.-- sha ll be awarded
to the most favourable out of at l east three Indonesian bidders, and
- contracts for the supply of goods corresponding to
annual requir ements of an equivalent of moLe t h an
DM 100,000.-- shall be awarded by way of an international public invitation to tender;

-

(c)

13 -

secure the full financing of the Project and ,
upon request of Kreditanstalt , furnish it with
evidence proving that all costs not to be paid
from the Loan are covered ;

(d)

maintain , or cause to be maintained , books and
records showing a l l costs of goods and services
required for the Project and identifying the
goods and services financed from t,he Loan;

(e)

enable the representatives of Kreditanstalt at
any time to inspect such books and records as
well as any other documentation re l evant to the
execution of the Project and to visit the Project and all the instal l at i ons related thereto;

(f )

supply any information and reports on the Project
and its further progress wh i ch Kreditanstalt may
request;

(g )

of his own accord promptly inform Kreditanstalt of
any circumstances seriously affecting or jeopardizing the accomplishment of the purpose of this
Agreement , above all the execution or operation
of the Project ;

(h )

secure that
- different varieties of rubber trees are planted;
- rules and standards of maintenance (including
fertilizing and pest control) to be carried out
by smallholders arc fixed and as far as necessary
actions are taken to ensure an adequate cultivation
of the plantation ;

-

14 -

- slashing of plants between the rubber trees
is done regularly;
- the planned factory for manufacturing latex is
constructed in the programme region, if possible
on the reserved area near to the Trans Sumatera
Highway and to the river Sungei Siat;
- the responsibility of the planned factory starts
at the Group Collecting Centres;
- the factory will be technically equipped to be
able to produce rubber of at least SIR 5 quality
and will aim to produce rubber of as best quality
as possible;
- the capacitiy of the factory is sufficient to
process at least the output of the smallholder
plantation during all phas es of this programme and
that the factory purchases the entire output of the
Abai Siat plantation;
- the Farm Gate Price for the smallholders amounts
to at least 70 % of the fob Padang price for the
respective quality and that the exact price is
fixed by the Provincial Coordinating Committee;
- payments for latex to the smallholders are made
within one week's p e riod, 60 % of which should
b e hande d out at delivery of latex ;
- PTP VIII employs qualified personnel for the oper ation of the factory;
Kreditanstalt is furnished, duly in advar.ce of
the conclusion of the first loan agreements with
the smallholders, with a specimen of the draft
loan agreement and with proposals for a clearing
system between the bank channeling the loans, the
smallholders and the factory for comment;

I

n

-

(i)

15 -

channel the means for financing the "On Farm Costs"
to the smallholders participating in the Project
on the basis of special l oan agreements at terms
and conditions to which Kred i tanstalt has agreed .
As far as possible, these loan agreements shall be
s i gned till prope r ty r ights are transferred to the
small holders . The Borrowe r shall remit interest paid
by the smallholders , however , at the most the interest
paid for an equival ent of DM 30 miilion as far as it
exceeds interest to be borne by the Borrower, to the
public Investment Fund administered by Bank Indonesia
under the supervision of the Ministry of Finance .

7.2

The Borrower and Kreditanstalt shall lay down the details pertaining to Article 7. 1 in a separate agreement.

7. 3

Regarding sea and air transport of the goods to be
financed from the Loan the prov i sions of the Government Agreement, which are known to the Borrower ,
shall apply .

-

16 -

Article 8

Miscellaneous Provisions
8.1

The invalidity of one provision of this Agreement
shall not affect the validity of the other provisions.
Any gap resulting in consequence shall be filled by a
provision consistent with the purpose o,f this Agreement.

8.2

The Borrower shall not assign or transfer, pledge or
mortgage any rights under this Agreement.

8.3

This Agreement shall be governed by the law of the
Federal Republic of Germany. The place of performance
shall be Frankfurt am Main. In case of doubt as to the
interpretation of this Agreement, the German text
shal l be controlling.

DONE in four originals, two in German and two in English,
at Frankfurt am Main
this March 20, 1979
KREDITANSTALT FUR WIEDERAUFBAU

REPUBLIC OF INDONESIA

Signed

Signed

Arbitration Cl ause

Al l disputes arising from the foregoing Agreement , including
disputes on the validity of s uch Agreement and this Arbitration Clause , which cannot be sett l ed amicably between the
contracting par ties shall be submitted to. arbitration as
agreed upon i n t he Arbitration Agreemen t pertaining to the
Loan Agreement dated May 24 , 1 978

(6 Customs Boats) .

If and when all t he pay ment o b l igations under the foregoing
Agreement shall have been performed , such Arb i tration Agreement shall forthwith terminate .

Frankfurt am Main , March 20 , 1979
KREDITANSTALT FUR WIEDERAUFBAU

Signed

-

REPUBLIC OF INDONESIA

Signed

D a r 1 e h e n s v e r t r a g
vom

2o. Marz 1979

zwischen der

KREDITANSTALT FUR WIEDERAUFBAU

und der
REPUBLIK INDONESIEN

uber

DM

ＳＰ

ＮＰ

Ｐｾ

ＬＭ

- Kleinbauerliche Gummiplantage Abai Siat -

D a r 1 e h e n s v e r t

r a g

zwischen

der KREDITANSTALT FUR WIEDERAUFBAU, Frankfurt am Main,
( "Kredi tanstal t")

und

der REPUBLIK INDONESIEN
( "Darlehensnehmer")

-

Auf der Grundlage der Abkommen zwischen der Regierung der
Bundesrepublik Deutschland und der Regierung der Republik
Indonesien vom 10. Juni 1977 und vom 14. August 1978 liber
Kapitalhilfe/Finanzielle Zusammenarbeit ("Regierungsabkommen")

schlieBen der Darlehensnehmer und die Kreditanstalt

den nachstehenden Darlehensvertrag.

- 2 -

Artike l

1

Rohe und Verwendungszweck
1.1

Di e Kreditanstalt gewahrt dem Darlehensnehmer
e in Darlehen bis zu
DM 30 . 000.000 ,-(in Worten: DreiBig Millionen Deutsche Mark ) .

1.2

Der Dar l ehensnehmer verwendet das Darlehen ausschlieBlich
zur antei ligen Finanzierung der "On Farm Cost" d er Klein bauerlichen Gummiplantage Abai Siat ("P rojekt "), und zwar
vorrangig zur Bezahlung der Devisenkosten. Der Darlehensnehmer und die Kreditanstalt bestimmen durch besondere
Vereinbarung die Einzelheiten des Projekts sowie die Lief e rungen und Leistungen , die aus dem Darlehen finanziert
werden sollen .

1. 3

Steuern und sonstige offentliche Abgaben , die von dem
Darlehensnehmer zu tragen sind , sowie Einfuhrzolle werden

-

aus dem Darlehen nicht finanziert .

-

3 -

Artikel 2

Auszahlung
2.1

Die Kreditanstalt zahlt das Darlehen entsprechend dem
Projektfortschritt auf Abruf des Darlehensnehmers aus.
Der Darlehensnehmer und die Kreditanstalt regeln durch
besondere Vereinbarung das Auszahlungsverfahren, insbesondere den Nachweis fur die vereinbarungsgemaBe Verwendung der Darlehensbetrage, den der Darlehensnehmer
fur die Auszahlung erbringen wird.

2.2

Die Kreditanstalt kann Auszahlungen nach dem 31. Dezember 1987 ablehnen.

- 4 Artikel 3

Zusageprovision, Verzinsung und Ruckzahlungen
3.1

Der Darlehensnehmer zahlt auf die noch nicht ausgezahlten
Darlehensbetrage eine Zusageprovision von 1/4 % p.a.

(ein

Viertel vom Hundert jahrlich). Die Zusageprovision wird
fur einen Zeitraum berechnet, der drei Monate nach Vertragsunterzeichnung beginnt und mit dem Tage der Belastung
flir Auszahlungen endet.
3.2

Der Darlehensnehmer· verzinst das Darlehen mit 2 % p.a.
(zwei vom Hundert jahrlich). Die Zinsen werden vom Tage
der Belastung fur Auszahlungen bis zum Tage der Gutschrift
fur Ruckzahlungen auf dem in Artikel 3.9 genannten Konto
der Kreditanstalt berechnet.

3.3

Der Darlehensnehmer zahlt die Zusageprovision, die Zinsen
und die etwaigen Verzugszinsen gemaB Artikel 3.5 halbjahrlich nachtragli6h jeweils am 30. Juni und 31. Dezember. Die Zusageprovision wird erstmalig zusammen mit der
ersten Zinszahlung fallig.

3.4

Der Darlehensnehmer zahlt das Darlehen wie folgt zurlick:

-

-

30 .
31.
30.
3 1.
30 .
31.
30 .
31.
30 .
31.
30 .
31.
30 .
31.
30.
31 .
30.
31.
30 .
31 .
30.
31 .
30 .
31.
30 .
31 .
30.
31 .
30.
31.
30.
31 .
30.
31 •
30 .
31.
30 .
31.
30.
31.
30 .

Jun i
Dez ember
Jun i
Dez ember
Jun i
Dez ember
Juni
Dez emb er
J un i
De z ember
Juni
Dez ember
Jun i
Dez ember
Jun i
Dez ember
Juni
Dez ember
Jun i
Dez ember
Juni
Dez ember
J u ni
De z e mber
J un i
Dezember
Jun i
Dezember
Juni
Dez ember
Juni
Dezember
Juni
Dezember
Juni
Dez ember
Jun i
Dezember
Jun i
Dezember
Juni

1 989
1989
1 990
1 990
1 99 1
199 1
1 992
1 992
1 993
1 993
1 994
1 994
1 995
1 995
1 996
1996
1 997
1 997
1 998
1998
1 999
1 999
2000
2000
200 1
200 1
2002
2002
2003
2003
2004
2004
2005
2005
2006
2006
200 7
2007
2008
2008
2009

5 -

DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM
DM

731.000 , -731 . 000 ,-7 31 . 000 , -73 1. 000 ,-731.000 ,-731.000 ,-7 3 1 .000 , - 73 1 .000 ,-7 3 1 .000 ,-73 1 .000, -73 1 .000 , -73 1 .QOO , - 732 . 000 ,-732 . 000,- 7 32.000 , -732 . 000 ,-732.000 ,-732.000 ,-732 . 000 ,-732 . 000 ,- 732 . 000 ,- 732.000 ,-7 32 . 000 ,-732 . 000 , - 732 . 000 ,-732 . 000 , -732 . 000 , - 7 3 2 ·. 000 ' -7 32.000 , -732 . 000 ,- 732.000 ,-732.000 ,- 732.000 ,-732.000 ,-732 . 000 , -732 . 000 ,-732 . 000 ,-732.000 ,-732 . 000 ,-732 . 000 , -732.000, --

DM

30 . 000.00 0 ,--

==== ==============

-

3.5

6 -

Stehen der Kreditanstalt Ruckzahlungsraten nicht bei
Falligkeit zur Verfugung, so kann die Kreditanstalt
vom Tag der Falligkeit bis zum Tag der Gutschrift fur
Rlickzahlungen den Zinssatz flir die Ruckstande auf den
Diskontsatz der Deutschen Bundesbank am jeweiligen
Fa ll igkeitstag zuzliglich 3 % p.a. erhohen . Bei Zinsrlickstanden kann die Kreditanstalt Ersatz fur Verzugsschaden verlangen. Dieser darf den Betrag nicht libersteigen, der sich bei einer Verzinsung der Zinsrlickstande zum Diskontsatz der Deutschen Bundesbank per
Falligkeitstag zuzuglich 3 % ergeben wurde.

3.6

Fur die Berechnung der Zusageprovision, der Zinsen und
der etwaigen Verzugszuschlage gemaB Artikel 3.5 werden
das Jahr mit 360 Tagen und der Monat mit 30 Tagen angesetzt.

3.7

Nicht ausgezahlte oder vorzeitig zurlickgezahlte Darlehensbetrage werden auf die nach dem Ruckzahlungsplan jeweils
zu letzt falligen Rlickzahlungsraten.angerechnet, sofern
nicht im Einzelfall etwas anderes vereinbart wird.

3 .8

Die Kreditanstalt kann eingehende Zahlungen nach eigenem
Ermessen auf f al lige Zahlungen aus diesem oder anderen
Darlehensvertragen zwisc hen der Kreditanstalt und dem
Darlehensnehmer anrechnen.

3 .9

Der Darlehensnehmer liberweist samt l iche Zahlungen ausschlieBlich in Deutscher Mark unter AusschluB der nufrechnung auf das Konto Nr. 504 091 00

der Kreditanstalt

bei der Deutschen Bundesbank , Frankfurt am Main .

-

7 -

Artikel 4

Aussetzung von Auszahlungen und vorzeitige Rlickzahlung
4.1

Der Darlehensnehrner kann jederzeit
a) vorbehaltlich seiner Verpflichtungen aus Artikel 7
auf die Auszahlung noch nicht abg.eruf en er Darlehens betrage verzichten und
b) das Darlehen ganz oder teilweise vorzeitig zurlickzahlen.

4.2

Die Kreditanstalt kann Auszahlungen nur aussetzen, falls
a) der Darlehensnehrner Zahlungsverpflichtungen gegenliber der Kreditanstalt nicht bei Falligkeit erflillt,
b) Verpflichtungen aus diesern Vertrag oder aus besonderen Vereinbarungen zu diesern Vertrag verletzt
werden,
c) der Darlehensnehrner die bestirnrnungsgernaBe Verwendung von Darlehensbetragen nicht nachweisen kann
oder
d) auBergewohnliche Urnstande eintreten, welche den
Zweck dieses Darlehens, die Durchfuhrung des Projekts oder die Erfullung der Zahlungsverpf lichtungen, die der Darlehensnehrner in diesern Ve rtrag
libernornrnen hat, ausschlieBen oder erheblich gcfahrden.

-

4.3

8 -

Ist einer der in Artikel 4.2 unter a), b) oder c) genannten Umstande eingetreten und nicht innerhalb einer
Frist beseitigt worden, die von der Kreditanstalt bestimmt wird, jedoch mindestens 30 Tage betragt, so
kann die Kreditanstalt
a) im Falle des Artikels 4.2 a) oder 4.2 b) die sofor-

.

tige Rlickzahlung allex ausstehenden Darlehensbetrage
sowie die Zahlung aller aufgelaufenen Zinsen und der
sonstigen Nebenforderungen verlangen oder
b) im Falle des Artikels 4.2 c) die sofortige Rlickzahlung derjenigen Darlehensbetrage verlangen, deren
bestimmungsgemaBe Verwendung der Darlehensnehmer
nicht nachweisen kann.

- 9 -

Artikel 5

Kosten und offentliche Abgaben
5.1

Der Darlehensnehmer leistet samtliche Zahlungen aufgrund
dieses Vertrages ohne Abzug von Steuern, sonstigen offentlichen Abgaben oder anderen Kosten und libernimmt die bei
der Auszahlung des Darlehens entstehenden Uberweisungsund Transferkosten.

5.2

Der Darlehensnehmer tragt samtliche Steuern und sonstige
offentliche Abgaben, die bei AbschluB und Durchflihrung
dieses Vertrages auBerhalb des deutschen Geltungsbereichs
des Regierungsabkommens entstehen .

-

10 -

Artikel 6

OrdnungsmaBigkeit der Darlehensaufnahme und Vertretung
6.1

Rechtzeitig vor der ersten Auszahlung wird der Darlehensnehmer der Kreditanstalt in i hr genehmer Weise nachweisen ,
daB er alle Erfordernisse seines Verf assungsrechtes und
seiner sonstigen Rechtsvorschrif ten tlir eine wirksame
Ubernahme seiner samtlichen Verpf lichtungen aus di esem
Vertrag erflillt hat .

6.2

Der Finanzminister und die von diesem gegenliber der
Kreditanstalt benannten und durch von ihm beglaubigte
Unterschriftsproben legitimierten Personen vertreten
den Darlehensnehmer bei der Durchflihrung dieses Vertrages.
Andert sich diese Zustandigke i t , so benennt der bisherige
Vertreter des Darlehensnehmers der Kreditanstalt den n e u
zustandigen Vertreter sowie dessen Anschrift . Die Vertretungsbefugnis erlischt erst , wenn ihr ausdrlicklicher
Widerruf durch den jeweils zustandigen Vertreter bei der
Kreditanstalt eingegangen ist .

-

-

6.3

11 -

Anderungen oder Erganzungen dieses Vertrages sowie
andere Erklarungen und Mitteilungen , die aufgrund
dieses Vertrages zwischen den Vertragspartnern abgegeben werden, bedilrfen der Schriftform. Erklarungen
und Mitteilungen sind zugegangen , sobald sie bei der
nachstehenden oder einer anderen, dem Vertragspartner
mitgeteilten Anschrift des betreffenden Vertragspartners eingegangen sind:
Filr die Kreditanstalt:
Postanschrift:

Kreditanstalt filr Wiederaufbau
Palmengartenstrasse 5 -9
D - 6000 Frankfurt am Main
Bundesrepublik Deutschland

Filr den Darlehensnehmer:
Postanschrift:

Direktorat Jendral Moneter
Luar Negeri
Departemen Keuangan
(Directorate General for
External Monetary Affairs
Ministry of Finance )
Jalan Lapangan Banteng
Timur 2-4
Jakarta I Republik Indonesien

Eine Anderung der vorstehenden Anschrif tcn ist erst
verbindlich, wenn sie dem anderen Vertragspartner
zugegangen ist.

-

12 -

Artikel 7

Das Projekt
7.1

Der Darlehensnehmer wird
a) das Projekt durch das Directorate General of Estates
of the Ministry of Agriculture unter Beachtung ordnungsgernaBer finanzieller und technischer'Grundsatze sowie
in wesentlicher Ubereinstirnrnung rnit den der Kreditanstalt vorgelegten Planen und Daten vorbereiten,
durchflihren, betreiben und unterhalten;
b) die Vorbereitung und Uberwachung des Projekts d er
Deutschen Gesellschaft fur Technische Zusarnrnenarbei t

(GTZ) und dessen Durchflihrung qualifizierten

Firrnen und/oder privaten Kontraktoren aus der Proj ektregion libertragen. Fur die Auftragsvergabe gelt e n folgende Regelungen:
Auftrage fur Li eferungen rnit einern Jahresbedarf irn
Gegenwert von bis zu DM 20.000,-- sowie fur Leistungen konnen direkt vergeben werden;
- Auftrage fur Lieferungen rnit einern Jahresbedarf
irn Gegenwert von DM 20.000,-- bis zu DM 100.000,-werden an den gunstigsten von zumindest drei indon esische n Anbietern vergeben und
Auftrage fur Lieferungen mit ei nem J ahresbedarf irn
Gegenwert von uber DM 100.000,-- werden international offentlich
｡ｵｳｧ･｣ｨｲｩ｢ｾ［＠

c) die Gesamtfinanzierung des Projekts sicherstellen
und der Kreditanstalt auf Verlangen die Deckung
der nicht aus diesem Darlehen f inanzierten Kosten
nachweisen;

-

13 -

d) Bucher und Unterlagen fuhren oder fuhren lassen,
aus denen alle Kosten fur Lieferungen und Leistungen
fur das Projekt und die mit diesem Darlehen finanzierten Lieferungen und Leistungen eindeutig ersichtlich sind;
e) den Beauftragten der Kreditanstalt jederzeit die
Einsicht in diese Bucher und in alle ubrigen fur
die Durchfuhrung des Projekts maSgebenden Unterlagen
sowie die Besichtigung des Proj ekts und aller mit
ihm in Zusammenhang stehenden Anlagen ermoglichen;
f) alle von der Kreditanstalt erbetenen Auskunfte und
Berichte uber das Projekt und seine weitere Entwicklung geben;
g) die Kreditanstalt unverzuglich von sich aus uber alle
Umstande unterrichten, welche die Erreichung des Vertragszweckes, vor allem die Durchfuhrung oder den
Betrieb des Projekts wesentlich beeintrachtigen oder
gefahrden;
h) s icherstellen, daS
-