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89?- e.

FINANCIAL AGREEMENT
relating to French credits for the
economic development of INDONESIA

The Government of the ｒ･ｰｵ｢ｬｾ｣＠
French Republic , with a ｶｾ･ｷ＠
to ｦ｡｣ｩｬｾｴ･＠
l itation and development efforts of
ｦｯｬｷｾｮｧ＠

of ｉｮ､ｯ･ｳｾ｡＠
the
ｉｮ､ｯ･ｳｾ｡

Ｌ＠

and the
rehabiagreed on
･｣Ｙｮｯｭｾ＠

ｰｲｯｶｩｳｾｮＮ＠
/

ARTICLE 1 A total amount of THREE HUNDRED MILLIONS French
Francs (JOO . OOO . ooo F) is put at the disposal of the Indonesian
Government ｾｮ＠
the form of credits to ｦｾｮ｡｣･＠
the purchase of
Frenchtleavy equipments and services , ｾｮ｣
ｬ ｵ､ｩｮｧ＠
ｦｲ･ｾｧｨｴＬ＠
by
Indonesia .
ARTICLE 2 The credits set in article 1 ｣ｯｮｳ
ｾ ｳｴ＠
of a loan •rom
the French Treasury to the ｍｾｮｩｳｴｲｹ＠
of Finance acting on the
account of the I ndonesian Government, of ONE HUNDRED TWENTY

MILLION French Francs { 120.000.000 F) and bankers ' credits gua ranteed by the French Treasury coming to a tota1 amount of ONE
HUNDRED EIGHTY MILLION French Francs (180 . 000 . 000 F) to financ
the import of heavy equipments in ｡ｲｴｾ｣ｬ･＠
4 of the present
agreement.

•

ARTICLE J The loan from the Treasury and the guaranteed banker
credits which are extended in conj unction with the former ｷｾｬ＠
be respectively utilized in the proportion of 40 % and 60 ｾ＠ for
each contract allocated under article 2 of the present protocol

1

The rights of drawing on the Treasury loan ｷｾｬ＠
thus
be equal to 4o % of the value of the goods requirement ordered
in France for each contract .
ARTICLE

4 -

The means of financing provided for in article 2 are
earmarked in totality for the financing of the importation of
heavy equipments and services as mentioned in the priority list
of economic development plan of Indonesia.
ARTICLE 5 r

The loans from the French Treasury mentioned in art·
cle 2 are repayable in twenty six. years (26} by equal and
successive semi - annual instalments which are calculated from t
date of each drawing and bear an interest rate of J % per annu
allowing a grace period of ten (10) years.
The ｩｮｴ･ｲｳｾ､ｵ＠
on • the balance are repayable at th
end of each half- year. An agreement on the implementation
between the ｍｩ ｮ ｴ｡ｲｹ
Ｍ ｯｦ
ｆｩｮｾ｣･

Ｌ＠ acting on account of the Indo
nesian Government , and the Credit National, acting on behalf of
the French Goverrunent, will stipulate the terms and conditions
of utilizati on --apd repayment of these loans .

•

ARTICLE 6 The guaranteed bankers' credits mentioned in artie!
2 will be redeemed in 20 (twenty) equal and successive semiannual instalments the first one falling due six months after
the completion of the project or the delivery (ies) .of ･ｱｵｩｰ
ｾ＠
ments or the final delivery of the services, as ｳｴｾｰｵｬ｡･､＠
1n
each ｾｯｭ･ｲ｣ｩ｡ｬ＠
contract or in i the bankers' credit agreement.
The rate of interest is the current export rate to which is
added the cost of credit insurance of COFACE •

I

I

.; .

•

A financial agreement between the French Instituthe Ministry of Finance will stipulate, if necessary
the-- ' odali ties of utilization and reimbuusement of these
/
guar'
ｾ･､＠
｢｡ｮｫ･ｲｾＧ＠
credits.
ｴｩｯｲｾ､＠

'ARTICLE 7
Each order is subject to a contract between the
French s u pplier and the Indonesian buyer, the qualification o
which into the present agreement requices a prior approval of
the competent Indonesian and French ｡ｵｴｨｯｲｩ･ｳｾ＠

French Franc will be used as currency of account
currency of payment for the contract.

..

A down- payment equal to 10 % of the amount of the
contfact will be paid when placing the order and the balance
wi l l be settled between the ｯｲｾ･｡ｮ､＠
its receipt in conformi
ty with the terms and condition& of each contract, by succes
sively utilizing the means of financing foreseen in article 2
in accordance with the modalities of article J of the present
agreement .

ARTICLE 8

•

•

The ultimate date for the drawing up of contracts
be financed under the present agreement is set at December
.31st , 1982 .
The ､ｬｴｩｭ｡ｾ･＠
date for the drawing up of the cont
to be signed relating to the credits remaining available unde
the former goavrnmental agreements is set at March .3 1 st 1982

ｾ＠

N