Treaty Series Recuei dens Traitds - United Nations Treaty Collection
Treaty Series Recuei dens Traitds - United Nations Treaty Collection Treaty Series Recuei dens Traitds - United Nations Treaty Collection
256 United Nations - Treaty Series 1967 No. 8606. DEVELOPMENT CREDIT AGREEMENT 1 (INDUS- TRIAL IMPORTS PROJECT) BETWEEN PAKISTAN AND THE INTERNATIONAL DEVELOPMENT AS- SOCIATION. SIGNED AT WASHINGTON, ON 23 DE- CEMBER 1966 AGREEMENT, dated December 23, 1966, between ISLAMIC REPUBLIC OF PAKISTAN (hereinafter called the Borrower) and INTERNATIONAL DEVE- LOPMENT ASSOCIATION (hereinafter called the Association). Article I CREDIT REGULATIONS; SPECIAL DEFINITIONS Section 1.01. The parties to this Agreement accept all the provisions of Development Credit Regulations No. I of the Association dated June 1, 1961, 2 with the same force and effect as if they were fully set forth herein, subject, however, to the following modifications thereof (said Development Credit Regulations No. 1 as so modified being hereinafter called the Regulations): (a) The words "at the same rate" in the second sentence of Section 2.02 are deleted and the words "at the rate of one-half of one per cent (Y of 1%) per annum" are substituted therefor. (b) Section 3.01 is deleted and the following new Section is substituted therefor : "SECTION 3.01. Currencies in which Cost of Goods is to be Paid and Proceeds of the Credit are to be Withdrawn. (a) Except as the Borrower and the Association shall otherwise agree, the cost of goods financed out of the proceeds of the Credit shall be paid in the respective currencies of the countries from which such goods are acquired. "(b) The proceeds of the Credit shall be withdrawn from the Credit Account: "(i) on account of expenditures in currency of the Borrower or for goods produced in (including services supplied from) the terri- 1 Came into force on 1 February 1967, upon notification by the Association to the Government of Pakistan. 2 See p. 274 of this volume.
1967 Nations Unies - Recueil des Traitis 257 [TRADUCTION - TRANSLATION] No 8606. CONTRAT DE CRI-DIT DE DItVELOPPEMENT 1 (PRO JET D'IMPORTATION DE BIENS POUR L'IN- DUSTRIE) ENTRE LE PAKISTAN ET L'ASSOCIATION INTERNATIONALE DE DIVELOPPEMENT. SIGNII A WASHINGTON, LE 23 DtCEMBRE 1966 CONTRAT, en date du 23 dfcembre 1966, entre la RtPUBLIQUE ISLA- MIQUE DU PAKISTAN (ci-apr~s d6nommfe Al'Emprunteur e et 'AssOcIATION INTERNATIONALE DE DEVELOPPEMENT (ci-apr~s d~nommfe ((l'Association ))). Article premier RtGLEMENT SUR LES CRtDITS ; DEFINITIONS PARTICULIhRES Paragraphe 1.01. Les parties au pr6sent Contrat acceptent toutes les dispositions du R~glement no I de l'Association sur les credits de d~veloppement, en date du ler juin 1961 2, et leur reconnaissent la m6me force obligatoire et les m~mes effets que si elles figuraient int~gralement dans le pr6sent Contrat, sous rserve toutefois des modifications ci-apr~s (ledit R~glement no I sur les credits de d~veloppement, ainsi modifi6, 6tant ci-apr~s d6nomm6 (cle R&glement ))) : a) Dans la deuxi~me phrase du paragraphe 2.02, les mots ((au mme taux)) sont remplac6s par les mots ((au taux annuel d'un demi pour cent (/2 p. 100) ,,. b) Le paragraphe 3.01 est remplac6 par le nouveau paragraphe suivant: e PARAGRAPHE 3.01. Monnaies dans lesquelles le paiement du coopt des marchandises et les tirages sur le Credit doivent 9tre effectuis. a) Sauf convention contraire entre 'Emprunteur et I'Association, les marchandises finances h 1'aide des fonds provenant du Credit seront payees dans les monnaies des pays oh elles seront acquises. (( b) Les fonds provenant du Cr6dit seront pr6lev~s sur le Compte du credit : e i) Lorsqu'il s'agira de r~gler des d~penses devant 6tre effectu6es dans la monnaie de l'Emprunteur ou de payer des marchandises produites 1 Entrd en vigueur le 1er fdvrier 1967, d~s notification par l'Association au Gouvernement pakistanais. 2 Voir p. 275 de ce volume.
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256 <strong>United</strong> <strong>Nations</strong> - <strong>Treaty</strong> <strong>Series</strong> 1967<br />
No. 8606. DEVELOPMENT CREDIT AGREEMENT 1 (INDUS-<br />
TRIAL IMPORTS PROJECT) BETWEEN PAKISTAN<br />
AND THE INTERNATIONAL DEVELOPMENT AS-<br />
SOCIATION. SIGNED AT WASHINGTON, ON 23 DE-<br />
CEMBER 1966<br />
AGREEMENT, dated December 23, 1966, between ISLAMIC REPUBLIC<br />
OF PAKISTAN (hereinafter called the Borrower) and INTERNATIONAL DEVE-<br />
LOPMENT ASSOCIATION (hereinafter called the Association).<br />
Article I<br />
CREDIT REGULATIONS; SPECIAL DEFINITIONS<br />
Section 1.01. The parties to this Agreement accept all the provisions<br />
of Development Credit Regulations No. I of the Association dated June 1,<br />
1961, 2 with the same force and effect as if they were fully set forth herein,<br />
subject, however, to the following modifications thereof (said Development<br />
Credit Regulations No. 1 as so modified being hereinafter called the Regulations):<br />
(a) The words "at the same rate" in the second sentence of Section<br />
2.02 are deleted and the words "at the rate of one-half of one per cent (Y<br />
of 1%) per annum" are substituted therefor.<br />
(b) Section 3.01 is deleted and the following new Section is substituted<br />
therefor :<br />
"SECTION 3.01. Currencies in which Cost of Goods is to be Paid<br />
and Proceeds of the Credit are to be Withdrawn. (a) Except as the<br />
Borrower and the Association shall otherwise agree, the cost of goods<br />
financed out of the proceeds of the Credit shall be paid in the respective<br />
currencies of the countries from which such goods are acquired.<br />
"(b) The proceeds of the Credit shall be withdrawn from the Credit<br />
Account:<br />
"(i) on account of expenditures in currency of the Borrower or for<br />
goods produced in (including services supplied from) the terri-<br />
1 Came into force on 1 February 1967, upon notification by the Association to the Government<br />
of Pakistan.<br />
2 See p. 274 of this volume.