Selanjutnya

1ne Soudi Hrtfd Fnr Development

LOAN AGREEHENT
(PADALARANG - CI LEU NY I

II IGII\.JA Y PROJECT)

ｂｅｔ｜ｾｎ＠

TilE SAUDI FUND FOR DEVELOPHENT
AND
THE REPUBLIC

OF INDONESIA

Loan No . : 3/174
Signed on : Jamadi A1- Awa1 12, 1Lt03 A . H.
Corresponding to : February 25 , 1983 A. D.
UNOFFICIAL TRANSLATION

KING00!-1 OF 51\UDI 1\Rl\IHI\

Sl\UDI FUND FOR DCVELOPNENT

LOI\N 1\GRECHENT

(PADI\Ll\Rl\.NG- CILEUNYI

HIGHWI\Y PROJECT)

ｂｅｔ｜ﾷｾｎ＠

TilE 51\UDI FUND FOR DEVELOPMENT

/\NO

TilE REPU13LIC

OF INDOtlE5Il\

Loan No . :

3/174

Sign .... c.

Jamadi l\1-l\wa1 12, 1403 1\ . H.

)0 :

Corresponding to :

February 25 , 1983 1\ . D .
UNOFFICII\L TRI\NSLI\TION

LO/\N NO . : 3/1 74
LOAN AGREEt-1ENT

AGREEI'I.ENT signed on Jamadi Al-1\wa l 12 1
to February 25 , 1983 AD
1

1 403 A . II. correspondin g

between :

'l'IIE SAUDI FUtm fOR DEVELOP!'I.ENT 1 Riyadh 1 Kingdom of Saudi

Arabia (hereinafte r called the Fund)

H. E.

1

rapresented

by

Uscaz Hohammad A. Alsugair , Vice Chairman and

Managing Di r ector ;

and

2

TilE REPUBLIC OF INDONESIA 1
represented by II. E .

(hereinafter called the Borrower)

Dr . Ali
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Ｌ＠

Ninis t e r o f

Finance .

PRE7V'tl3LE

(A)

\·,'JIEREAS t:he Borrower has requested the Fund to grant it

a loan to

;sist in the financing of the Padalarang- Cileunyi lligh-

way Project described in Schedule (2) to this Agreement (hereinafter
called the Project);

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(B) WIJCJU:;/\5 the narrower intends to obtain from the Kuwait
Fund for /\rab Economic
ｄ･ｶｬｯｰｾｮ｣ｴ＠

(hereinafter referred to as

K.FAED) a loan equivalent to about US$ 20 folillion to assist in the
financing of the Project on the terms and conditions set forth
in the Loan Agreement to be entered into between the BorroHer
and Kfl\.ED ;
(C)

the purpose of the Fund is to assist developｾＧｬＡｉｅｒａｓ＠

ing countries in developing their economies and to provide the1n
with loans required for the implementation of their development
pr ojects and programs;
(D) \V!IEREAS the Fw1d is convinced of the importance of the
Project and its beneficial effects on the economic development
of the friendly people of Indonesia; and
(E)
ｾＧｩｈｉＺｕＯ｜Ｕ＠

the Board of Directors of the Fund has agreed,

in vieH of the foregoing, by its Resolution No . 9/34/342
26 . 6 . 1402 A. H. corresponding to 20 . 4 . 1982 A. D. to grant

the

Borrower a loan upon the tenns and conditions hereinafter set
forth;
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THEREFORE the parties hereto hereby agree as .

folloviS :

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-: 3 :-

ARTICLE I
General Conditions; Definitions

Section 1. 01.
the

'l'he parties to this 1\greement accept all

provisions of the General

Agreements
Directors

Conditions 1\pplicable to Loan

of the Fund issued by
of the Fund No .

Resolution of the Board of

11/14 dated Rajab 29, 1396 A.

fl.,

corresponding to July 26, 1976 /\ . D. , with the same force and
effect as if they were fully set forth
Conditions Applicable

herein (said

t.o Loan Agreements of

General

the Fund

being

hereinafter called the General Conditions) .
Section 1.02.
the context otherwise
the General

Wherever used in this Agreement,

requires, the several terms defined in

Conditions and in the Preamble to this Agreement

have the respective

meanings therein set forth, and the term

"'rhe Directorate General of flighways"
General of lliCJh\vays in the
Borrower .

unless

means the

Directorate

Department of Public Horks

of the

-: 4 :-

/\RTICLE II
'l'hc

Section 2 . 01 .
on the terms

Loan

TI1e Fund agrees to lend t o the Borrower,

and conditions in

the Loan J\greement set forth

or referred to a loan in an atnount of One hundred and Sevunty
two million (172,000,000) Saudi R1yals .
Section 2.02 .

The amount of the Loan may be withdrawn

from the Loan /\ccount in

accordance with the

of
ｰｲｯｶｩｳｾｮ＠

Schedule 1 to this /\greement, as such Schedule may be amended
from time to time by Agreement between the Fund and the
Borrower , for expenditures made (or, if the Fund shall so agree,
to be made) in respect

of the

reasonable cost

of goods

and

services required for the Project and to be financed out of the
proceeds of the Loan .
Section 2 . 03 .

The Borrower shall apply the proceeds of

the Loan exclusively to
goods required

financing the reasonable cost

for the carrying out of

the Project .

of the
The

specific goods to be financed out of the proceeds of the Loan
and the methods and procedures for the
shall

procurement thereof,

be determined by agreement between

the Fund

and the

Borrower , subject to 1o1odifi cation by further agreement between

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them .

The BorrO\-ler shall obtain Fund ' s approval before

awarding the contracts to be fiuanced out of the proceeds
of the Loan

and before effecting any modification thereto

in the future.
Section 2 . 04 .

The Closing Date shall be September 30,

1987 or such later date as shall be agreed between the Fw1d
and the Borrower .
Section 2 . 05 .

The Borrm·Jer shall pay a loan charge

at the rate of three per cent ()\)
amount of

the Loan withdrawn and

per annum on the principal
outstanding from time to

time .
Section 2 . 06 .

Loan Charge and other charges shall be

payable semi-annually on

15

Hay

and

15

November in each

year .
Section 2 . 07 .

The term of the Loan is

including a five - year grace period .
the principal amount of

Twenty years

The Dorrower shall repay

the Loan in accordance with

Amortization Schedule set forth in Schedule

the

(3) to tnis

1\g reemen t .

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- : 6 :Tdl'l'ICLE: III

Execution of

Section 3.01 .

the Project

The Borrower shall carry out the Project

through the Directornte General of
ｬｾｧｨｷ｡ｹｳ＠

with due diligence

and efficiency and in conformity with appropriate engineering,
financial and administrative practices and shall provide or
cuase to be provided, p r omptly as needed, the funds,facilities
and other resources required for the purpose .
Section 3. 02 .

In order to assis t the Borrower in the

preparation of engineering designs of the Project including
drawings and specificat i ons and the preparation of tender
documents and the supervision of the execution of the Project,
the Borro,.,rer shall employ engineering consultants \·those qualifications , experience and terms of service are acceptable to
the Fund .
Section 3 . 03 .

In carrying out the Project, the Borrower

shall employ contractors acceptable to the Fund upon terms and
conditions satisfactory to the Fund .
Section 3 . 04 .

The Borrower shall furnish to the Fund,

promptly upon their preparation, the plans, specifications,
reports, contract documents and construction and procurement
schedules for the Project , and any modifications thereof or
additions thereto in such detail as the Fund may
request .

reasonably

7

Section 3 . 05 .

Borrower shall cause
ｾＱ･＠

the

Project to be executed in accordance \vith the General
design standards

set forth

in the

1\nnex to Schedule

(2) of this 1\greement .
Section 3 . 06 .

The Borro\ver shall cause the impor-

ted goods financed out of the proceeds of the Loan to be
insured

against hazards

incident to the

transportation ...ll)d delivery thereof
use or installat ion ,

and for such

acquisition ,

to the place
insurance ,

of

any

indcmni ty shall be payable in a currency freely useable by the Borrower to replace or repair
Section 3 . 07 .

such goods .

The Borrower shall cause all goods

and services financed out of the proceeds of the
to be used exclusively in
ｾＱ･＠

Loan

ca rrying out of the

Project .
Section 3 . 00 .

The BorrO\oler undertakes

i) to maintain records adequate to record the
progress of the Project (including the cost
thereof), to identify the goods and services
financed out o f the proceeds of the Loan and

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8

to disclose the use thereof in the Project
and to reflect all the operations, resources
and expenditures in respect of the Project;
ii)

to afford all reasonable opportunity for the
accredited representatives of the

Fund

to

make visits for purposes related to the Loan,
to examine the Project, the goods and services
financed out of the proceeds of the Loan and
any relevant records and documents;
iii)

to furnish to the Fund all such information as
the Fund shall reasonably request

concerning

the Project, the expenditure of the proceeds
of the Loan, and

the goods and services finan-

ced out of such proceeds.
Section 3.09.

The Borrower undertakes to provide

from his own resources or from any other sources acceptable to t.he Fund any cost overrun that might" occur.
Section 3.10 .

The Borrower shall take all such actions

as shall be necessary to acquire all such land and rights in
respect of land as shall be required for carrying ou'
Project.

ｮｾ＠

the

- : 9 :l\RTI CLE IV

Particular Covenants

Seccion 4.01 (a)

The Borrower and the Fund confirm

their aqrec:rrll.!lll Llrut no other externv.l (lebt:. shal l enjoy any
priority over the Loan by way of a lien created on govern mental assets .

To that end, the Borrower undertakes

that,

except as the Fund shall otherwise agree , if any lien shall
be created on any a ssets of the Borrower as security for any
external debt, such lien will ipso facto and

at no cost to

the Fund equally and ratably secure the payment of

the prin-

cipal of the Loan, the Loan Charge and other charges on the
Loan, and that in the creation of any such lien express provision will be made to that ef fect .
(b)

The undertaking provided for in paragraph (a) of

this Section shall not apply to :
i) any lien created on property, at the time of
purclwse thereof , solely as security for the
payment of the
ｰｵｲ｣ｨ｡

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price of such property ;

ii) any lien on commercial goods to secure a debt
maturing not more than one year after the date
on which it is originally incurred and to be
paid out of the proceeds of the sale of such
con .. _·

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goods; or

10

iiJ)

lien arising in U1e ordinary course of
ｾｮｹ＠

banking transactions and securing

a debt

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