Selanjutnya
A. I . D. Loan No .
497- V-042
(
LOAN AGREEMENT
(Indonesia:
Higher Education Development Training)
between the
GOVERNMENT OF THE REPUBLIC OF INDONESIA
/
and the
GOVERNMENT OF THE UNITED STATES OF AMERICA
•
Dated:
Oc t ober 28 , 1976
LOAN AGREEMENT
LOAN AGREEMENT dated
, 1976 between the
REPUBLIC OF INDONESIA ("Borrower") and the UNITED STATES OF
AMERICA ("United States") acting through the AGENCY FOR
INTERNATIONAL DEVELOPMENT ("A.I.D ."):
ARTICLE I
The Loan
SECTION 1. 01.
The Loan.
A. I. D. agrees to lend
LD
the Borrower pursuant to the Foreign Assistance Act of 1961 ,
as amended, an amo unt not t o exceed Five Million United States
Dollars ($5,000, 000 ) (" Loan") to assist the Borrowe i. in carrying
out the Proj ect defined in Section 1.02 .
The Loan shall be
used exclusively to assist in financing the Foreign Exchange
and Local Currency Costs of services and train ing required for
the Project.
The aggregate amount of disbur sements under the
Loan is hereinafter referred to as "Principal . 11
SECTION 1 . 02.
The Project.
The "Proj ec t" shall
consist of assistance to certain higher e ducational institutions
within the Republic of Indonesia .
The A. I. D. contribution is
designed to assis t in the f inancing of advanced training,
upgrading and development of the facul ties , administrati0 is
and staffs of state and selected private univer s ities and
institutions of higher learning in Indonesia.
The Project is
-2-
more fully described in Appendix I , attached her eto and made a
part hereof, which Appendix may be modified by agreement of the
parties in writing without the formal amendment of this Agreement.
ARTICLE II
Loan Terms
SECTION 2.01.
Interest .
The Borrower shall pay t o
A.I.D. interest which shall accrue at the rate of 2% per annum
for 10 years following the date of t he fir s t disbursement hereunder and at the rate of 3io per annum thereafter on the outstand.:_ng
balance of the Principal and on any due and unpaid interest.
Interest on the outstanding balance shall accrue from the date
of each respective disbursement (as such date is defined in
Section 6.04) and shall be computed on the basis of a 365-day
year.
Interest shall be payable semi-annually.
The first payment
of interest shall be due and payable no later than six ( 6) months
after the first disbursement hereunder, on a date to be s p1:::ci t ied
by A.I.D.
SECTION 2.02.
Repayment.
The Borrower shall r epay to
A.I.D. the Principal within for t y (40) years from the date of
the f irs t disbursement hereunder in sixty-one (61) approximately
equal semi-annual insta L!..•nents of Principal and interest.
The
first installment of Principal shall be payable nine and one-ha.l f
(9-1/2 ) years after the date on which the first interest payment
is due in accordance with Se ction 2.01.
A. I . D. s hall provide
the Borrower wi th an amortization schedule in
｡ ｣
ｯｲ､｡ｮ
ｾﾷ＠
this Section after the fin al disbursement under the Loa ·J .
wi th
- 3-
SECTION 2 . 03.
ｾ ｡ｹｭ･ｮｴＮ＠
Application, Currency , and Place of
All payments of interes t and Principal her eunder shall
be made in United States dollars and shal l be applied first to
the payment of interest due and then to t he r epayment of
Principal .
Except as A. I.D . may o therwise spec ify in writing,
all such payments shall be made t o t he Con troller, Agency
for In t ernational
ｄ･ｶｬｯｰｭ
･ｮｴ
ｾ＠
Washing t on , D. C. , U. S . A., and
s hall be deemed made when received by t he o ffice of the Controller .
SECTION 2 . 04 .
Prepayment .
Upon payment of all interest
and r efunds then due , the Borrower may prepay, without penalty ,
all or any part of the Principal .
Any s uch prepayment shall be
appli ed to the installments of Principal in the inver se order of
their maturity.
SECTION 2 . 05.
Renegotiation of the Terms o f the Loan.
The Borrower agrees to negotiate wi t h A. I. D. , at such time or times
as A.I.D. may request, an acceler ation of che repayment J f che
Loan : n the event that there is any significant improvemen t i n
the internal
ai 1d
external economic and fin ancial position an d
prospects of the country of
Bor rower .
ｴ ｲｾ＠
A."R.TICLE III
Cr.
ditions
SECTION 3 . 01.
Disbursement.
ｐｲ
･｣ｾ
､ ･ｮ
ｴ＠
to Disbursement
Cor.ditions Precedent to Initial
Unless A.I.D. otherwi s e agrees in writing,
prior to the first disbt...csemen t or t o the issu ance of the
first Letter of Commitment or other commitmen t document
- 4-
under the Loan, the Borrower shall furnish to A.I . D. in form
and substance satisfactory to A.I.D.:
(a)
An opinion of the Minister of Justice of the
Borrower that this Loan Agreement has been duly authorized or
ratified by, and executed on behalf of, the Borrower and is a
valid and legally binding obligation of the Borrower in accordance
with its terms;
(b)
A statement of the names of the persons holding
or a cting in the office of the Borrower specified in Section 8 . 02,
and a specimen signature of each person specified in such statement;
(c) (i)
Written assurance tha t the estimated annua l
expenditures for each year during which the Project is bein 0
conducted (other than the U.S. dollar costs to be financed under
the Loan) will be made availaole to permit the work of the Project
to
ｰ ｾｯ｣･､＠
on a timely basis, (ii) a budgetary allocation for
the Project for the Indones '_an Fiscal Year 1976- 77, and ( i ii) an
approved payment authorization for payment of Indonesian currency
in the amount required for the first three months of Project
operations; and
(d)
A plan se t _ ng forth the fields of study and
institutions which will be · e lected in ac cordance with criteria
de signed to assure that t he educational
ｰ ｾ ｯｧｲ｡ｭｳ＠
assisted with
Loan resources will result in professional skills and activiti es
- 5-
directly related to programs and problem-solving processes
which serve in particular the needs o f the l ow income groups
in Indonesia.
SECTION 3.02.
Additional Conditions Precedent to
Commencement of Training .
Prior to t he commencement of trainin g
of Ind0ne sians i n the United States , third countries, or
Indonesia for which disbursement will be sought by t he Borrower
under the Loan, the Borrower shall , except as A.I.D . may otherwise agree in writing, furnish to A. I.D . in form and substance
satisfactory to A.I. D.:
(a)
An executed contract wi th a United States firm
or organization, acceptable to A.I.D . , to pr ovide consulting
services nec essary for the Pr oject; and
(b)
Criteria to be utilized for selecting candi da t es
for train i n g to be financed under t he Loan.
SECTI ON 3.03.
Termina l Dates for Meeting Conditions
Precedent t o Initial Disbursement .
If all of the condition s
specified in Section 3 .01 s hall not have been met within 90 days
from the date of this Agreement , or such late r da t e as A.I .D .
may agree to in writing, A. I . D. , at i ts option, may terminate
this Agreement by givin g written no tice to the Borrower .
Upon
the givi ng of such notice, t his Agreemen t and all obligations
o f the parties hereunder s hall terminate.
SECTION 3.04.
Notifica t i on o f Mee ting of Condit ions
Precedent to Disburs ement.
A.I .D. shall notify the Borrower
- 6-
upon de termination by A.I . D. that the conditions precedent t o
disburs emen t specified in Sec tion 3 . 01 and, as the cas e may be ,
Section 3.02 have been met.
ARTICLE IV
General Covenants and Warranties
SECTION 4.01.
(a)
Execution of the Project .
The Borrower sha ll carry out the Pr oject with
due diligence and efficiency, and in conformity wi th sound
finan cial , administrative and planning practic e s.
(b)
The Borrower shall c ause the Project to be
carried out in c onformity with all of the plans, specifica tions, contracts, s chedules , and other arrangements, and with
all modifications therein, duly approved by A.I.D. pursuant
to this Agreement.
(c)
The Borrower shall ensure that each participant,
upon satisfactory comp letion of training , will be guarar. t eed
a position commensurate with his training in an appro · ｩｾ＠ la te
university or other institution of higher learning .
SECTION 4.02 .
by Borrower.
Funds and Other Resources to be Provided
Th e Borrower shall pr ov ide promptly as n eeded all
funds, in addition to t h e L..... an, and all other r esources r equired
for the punctual and effective carrying out o f the Projec t, on
the further c ondition that these contribtt rions by the Borr ower
shall c onstitute at least 25% J f the costs of the en t ire project.
- 7-
In par ticular, the Borrower shall make its best effort to
provide necessary supporting staff, facilities and equipment
for the institutional development of universities to which
partic ipants trained under this Project will be assigned.
It is understood that the Borrower is negotiating other credi ts
to expand and improve physical plants within the Indonesian
university system.
SECTION 4.03.
(a)
Continuing Consultation.
The Borrower and A.I.D. shall cooperate fully
to as sure that the purpose o f the Loan will be accomplished.
To this end, the Borrower and A.I .D. shall from t ime to t ime ,
at the r equest o f e ither party, exchange views through their
r epresentatives with r egard to the progress of the Project, the
perf ormance by the Borrower of its obligations under this Agreemen t, the performance of consultants, contractors, and suppliers
engaged on the Project, and o t her mat ters relating to the
Project.
(b)
The Borrower .- n d A.I.D. shall make an annual
evaluation of t he Project.
SECTION 4. 0ti. .
(a)
Utilization of Goods and Services.
Servi ces and training financ e d under the Loan
shall be used exclusive ly for the Project , except as A.I.D.
may otherwise agree in wr i tin g.
(b )
Except as A.I . D. may otherwise agree in writing,
no services or training finan ced under the Loan s hal l be used
- 8-
to promote or assis t any foreign aid project or a ctivity
associated with or financed by any country not included in
Code 935 of the A.I.D. Geographic Code Book as in effect at
the time of such use.
SECTION 4.05 .
Ta xa t ion .
This Agreement, the Loan,
and any evidence of indebtedness issued in connection herewith
shall be free f rom, and the Principal and in terest shall be
paid without de duction for and free from, any taxation or fees
imposed under the laws i n effec t within the country of the
Borrower .
To the extent that any contractor, including any
consulting firm, any personne l of such contractor financed
hereunder, and any property or transa ction r e latin g to such
contracts are no t
･ｸｭ
ｰ
ｾ＠
f rom identifiable taxes , tariffs,
duties, and other levies i mpos e d under laws i n effec t in the
country of the Borrower, t he Borrower shal l pay or r eimburse
the same under Section 4 .0 2 of this Agreemen t with funds other
than t hose proviclc·d unde
SECTION 4.06.
Circu mstances .
t he Loan.
Disclosure of Material Facts and
The Bor rowe r represen ts and warrants that 211
facts and circumstance s that it has disc l osed or caused t o be
di s c l osed to A . . ,. . D. in t he course of
ｯ ｢
ｴ ｡ ｩｮｨ
ｾ ｧ＠
the Loan are:
ac curate and complete , and that it has disclosed to A.I.D.,
accurately and completely, all fac t s and circumstance s that
might materially affec _ the Project and t he discharge of its
- 9obligations under this Agreemen t.
The Borrower shall pr0mptly
i nform A.I .D. of any facts and circumstances that may hereafter
arise that might materially affect, or that it is reas 0nable to
believe might ma terially affec t, the Proj ect or the dischar ge of
the Borrowe r's obligations under this Agreement.
SECTION 4.07.
(a)
Commissions, Fees, and Other
ｐ ｾｹ
ｭ･
ｮｴｳＮ＠
Borrower warrants and covenants t hat in connection
with obtaining the Loan, or t a'
497- V-042
(
LOAN AGREEMENT
(Indonesia:
Higher Education Development Training)
between the
GOVERNMENT OF THE REPUBLIC OF INDONESIA
/
and the
GOVERNMENT OF THE UNITED STATES OF AMERICA
•
Dated:
Oc t ober 28 , 1976
LOAN AGREEMENT
LOAN AGREEMENT dated
, 1976 between the
REPUBLIC OF INDONESIA ("Borrower") and the UNITED STATES OF
AMERICA ("United States") acting through the AGENCY FOR
INTERNATIONAL DEVELOPMENT ("A.I.D ."):
ARTICLE I
The Loan
SECTION 1. 01.
The Loan.
A. I. D. agrees to lend
LD
the Borrower pursuant to the Foreign Assistance Act of 1961 ,
as amended, an amo unt not t o exceed Five Million United States
Dollars ($5,000, 000 ) (" Loan") to assist the Borrowe i. in carrying
out the Proj ect defined in Section 1.02 .
The Loan shall be
used exclusively to assist in financing the Foreign Exchange
and Local Currency Costs of services and train ing required for
the Project.
The aggregate amount of disbur sements under the
Loan is hereinafter referred to as "Principal . 11
SECTION 1 . 02.
The Project.
The "Proj ec t" shall
consist of assistance to certain higher e ducational institutions
within the Republic of Indonesia .
The A. I. D. contribution is
designed to assis t in the f inancing of advanced training,
upgrading and development of the facul ties , administrati0 is
and staffs of state and selected private univer s ities and
institutions of higher learning in Indonesia.
The Project is
-2-
more fully described in Appendix I , attached her eto and made a
part hereof, which Appendix may be modified by agreement of the
parties in writing without the formal amendment of this Agreement.
ARTICLE II
Loan Terms
SECTION 2.01.
Interest .
The Borrower shall pay t o
A.I.D. interest which shall accrue at the rate of 2% per annum
for 10 years following the date of t he fir s t disbursement hereunder and at the rate of 3io per annum thereafter on the outstand.:_ng
balance of the Principal and on any due and unpaid interest.
Interest on the outstanding balance shall accrue from the date
of each respective disbursement (as such date is defined in
Section 6.04) and shall be computed on the basis of a 365-day
year.
Interest shall be payable semi-annually.
The first payment
of interest shall be due and payable no later than six ( 6) months
after the first disbursement hereunder, on a date to be s p1:::ci t ied
by A.I.D.
SECTION 2.02.
Repayment.
The Borrower shall r epay to
A.I.D. the Principal within for t y (40) years from the date of
the f irs t disbursement hereunder in sixty-one (61) approximately
equal semi-annual insta L!..•nents of Principal and interest.
The
first installment of Principal shall be payable nine and one-ha.l f
(9-1/2 ) years after the date on which the first interest payment
is due in accordance with Se ction 2.01.
A. I . D. s hall provide
the Borrower wi th an amortization schedule in
｡ ｣
ｯｲ､｡ｮ
ｾﾷ＠
this Section after the fin al disbursement under the Loa ·J .
wi th
- 3-
SECTION 2 . 03.
ｾ ｡ｹｭ･ｮｴＮ＠
Application, Currency , and Place of
All payments of interes t and Principal her eunder shall
be made in United States dollars and shal l be applied first to
the payment of interest due and then to t he r epayment of
Principal .
Except as A. I.D . may o therwise spec ify in writing,
all such payments shall be made t o t he Con troller, Agency
for In t ernational
ｄ･ｶｬｯｰｭ
･ｮｴ
ｾ＠
Washing t on , D. C. , U. S . A., and
s hall be deemed made when received by t he o ffice of the Controller .
SECTION 2 . 04 .
Prepayment .
Upon payment of all interest
and r efunds then due , the Borrower may prepay, without penalty ,
all or any part of the Principal .
Any s uch prepayment shall be
appli ed to the installments of Principal in the inver se order of
their maturity.
SECTION 2 . 05.
Renegotiation of the Terms o f the Loan.
The Borrower agrees to negotiate wi t h A. I. D. , at such time or times
as A.I.D. may request, an acceler ation of che repayment J f che
Loan : n the event that there is any significant improvemen t i n
the internal
ai 1d
external economic and fin ancial position an d
prospects of the country of
Bor rower .
ｴ ｲｾ＠
A."R.TICLE III
Cr.
ditions
SECTION 3 . 01.
Disbursement.
ｐｲ
･｣ｾ
､ ･ｮ
ｴ＠
to Disbursement
Cor.ditions Precedent to Initial
Unless A.I.D. otherwi s e agrees in writing,
prior to the first disbt...csemen t or t o the issu ance of the
first Letter of Commitment or other commitmen t document
- 4-
under the Loan, the Borrower shall furnish to A.I . D. in form
and substance satisfactory to A.I.D.:
(a)
An opinion of the Minister of Justice of the
Borrower that this Loan Agreement has been duly authorized or
ratified by, and executed on behalf of, the Borrower and is a
valid and legally binding obligation of the Borrower in accordance
with its terms;
(b)
A statement of the names of the persons holding
or a cting in the office of the Borrower specified in Section 8 . 02,
and a specimen signature of each person specified in such statement;
(c) (i)
Written assurance tha t the estimated annua l
expenditures for each year during which the Project is bein 0
conducted (other than the U.S. dollar costs to be financed under
the Loan) will be made availaole to permit the work of the Project
to
ｰ ｾｯ｣･､＠
on a timely basis, (ii) a budgetary allocation for
the Project for the Indones '_an Fiscal Year 1976- 77, and ( i ii) an
approved payment authorization for payment of Indonesian currency
in the amount required for the first three months of Project
operations; and
(d)
A plan se t _ ng forth the fields of study and
institutions which will be · e lected in ac cordance with criteria
de signed to assure that t he educational
ｰ ｾ ｯｧｲ｡ｭｳ＠
assisted with
Loan resources will result in professional skills and activiti es
- 5-
directly related to programs and problem-solving processes
which serve in particular the needs o f the l ow income groups
in Indonesia.
SECTION 3.02.
Additional Conditions Precedent to
Commencement of Training .
Prior to t he commencement of trainin g
of Ind0ne sians i n the United States , third countries, or
Indonesia for which disbursement will be sought by t he Borrower
under the Loan, the Borrower shall , except as A.I.D . may otherwise agree in writing, furnish to A. I.D . in form and substance
satisfactory to A.I. D.:
(a)
An executed contract wi th a United States firm
or organization, acceptable to A.I.D . , to pr ovide consulting
services nec essary for the Pr oject; and
(b)
Criteria to be utilized for selecting candi da t es
for train i n g to be financed under t he Loan.
SECTI ON 3.03.
Termina l Dates for Meeting Conditions
Precedent t o Initial Disbursement .
If all of the condition s
specified in Section 3 .01 s hall not have been met within 90 days
from the date of this Agreement , or such late r da t e as A.I .D .
may agree to in writing, A. I . D. , at i ts option, may terminate
this Agreement by givin g written no tice to the Borrower .
Upon
the givi ng of such notice, t his Agreemen t and all obligations
o f the parties hereunder s hall terminate.
SECTION 3.04.
Notifica t i on o f Mee ting of Condit ions
Precedent to Disburs ement.
A.I .D. shall notify the Borrower
- 6-
upon de termination by A.I . D. that the conditions precedent t o
disburs emen t specified in Sec tion 3 . 01 and, as the cas e may be ,
Section 3.02 have been met.
ARTICLE IV
General Covenants and Warranties
SECTION 4.01.
(a)
Execution of the Project .
The Borrower sha ll carry out the Pr oject with
due diligence and efficiency, and in conformity wi th sound
finan cial , administrative and planning practic e s.
(b)
The Borrower shall c ause the Project to be
carried out in c onformity with all of the plans, specifica tions, contracts, s chedules , and other arrangements, and with
all modifications therein, duly approved by A.I.D. pursuant
to this Agreement.
(c)
The Borrower shall ensure that each participant,
upon satisfactory comp letion of training , will be guarar. t eed
a position commensurate with his training in an appro · ｩｾ＠ la te
university or other institution of higher learning .
SECTION 4.02 .
by Borrower.
Funds and Other Resources to be Provided
Th e Borrower shall pr ov ide promptly as n eeded all
funds, in addition to t h e L..... an, and all other r esources r equired
for the punctual and effective carrying out o f the Projec t, on
the further c ondition that these contribtt rions by the Borr ower
shall c onstitute at least 25% J f the costs of the en t ire project.
- 7-
In par ticular, the Borrower shall make its best effort to
provide necessary supporting staff, facilities and equipment
for the institutional development of universities to which
partic ipants trained under this Project will be assigned.
It is understood that the Borrower is negotiating other credi ts
to expand and improve physical plants within the Indonesian
university system.
SECTION 4.03.
(a)
Continuing Consultation.
The Borrower and A.I.D. shall cooperate fully
to as sure that the purpose o f the Loan will be accomplished.
To this end, the Borrower and A.I .D. shall from t ime to t ime ,
at the r equest o f e ither party, exchange views through their
r epresentatives with r egard to the progress of the Project, the
perf ormance by the Borrower of its obligations under this Agreemen t, the performance of consultants, contractors, and suppliers
engaged on the Project, and o t her mat ters relating to the
Project.
(b)
The Borrower .- n d A.I.D. shall make an annual
evaluation of t he Project.
SECTION 4. 0ti. .
(a)
Utilization of Goods and Services.
Servi ces and training financ e d under the Loan
shall be used exclusive ly for the Project , except as A.I.D.
may otherwise agree in wr i tin g.
(b )
Except as A.I . D. may otherwise agree in writing,
no services or training finan ced under the Loan s hal l be used
- 8-
to promote or assis t any foreign aid project or a ctivity
associated with or financed by any country not included in
Code 935 of the A.I.D. Geographic Code Book as in effect at
the time of such use.
SECTION 4.05 .
Ta xa t ion .
This Agreement, the Loan,
and any evidence of indebtedness issued in connection herewith
shall be free f rom, and the Principal and in terest shall be
paid without de duction for and free from, any taxation or fees
imposed under the laws i n effec t within the country of the
Borrower .
To the extent that any contractor, including any
consulting firm, any personne l of such contractor financed
hereunder, and any property or transa ction r e latin g to such
contracts are no t
･ｸｭ
ｰ
ｾ＠
f rom identifiable taxes , tariffs,
duties, and other levies i mpos e d under laws i n effec t in the
country of the Borrower, t he Borrower shal l pay or r eimburse
the same under Section 4 .0 2 of this Agreemen t with funds other
than t hose proviclc·d unde
SECTION 4.06.
Circu mstances .
t he Loan.
Disclosure of Material Facts and
The Bor rowe r represen ts and warrants that 211
facts and circumstance s that it has disc l osed or caused t o be
di s c l osed to A . . ,. . D. in t he course of
ｯ ｢
ｴ ｡ ｩｮｨ
ｾ ｧ＠
the Loan are:
ac curate and complete , and that it has disclosed to A.I.D.,
accurately and completely, all fac t s and circumstance s that
might materially affec _ the Project and t he discharge of its
- 9obligations under this Agreemen t.
The Borrower shall pr0mptly
i nform A.I .D. of any facts and circumstances that may hereafter
arise that might materially affect, or that it is reas 0nable to
believe might ma terially affec t, the Proj ect or the dischar ge of
the Borrowe r's obligations under this Agreement.
SECTION 4.07.
(a)
Commissions, Fees, and Other
ｐ ｾｹ
ｭ･
ｮｴｳＮ＠
Borrower warrants and covenants t hat in connection
with obtaining the Loan, or t a'