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280 United Nations - Treaty Series 1967 Article I CREDIT REGULATIONS; SPECIAL DEFINITIONS Section 1.01. The parties to the Development Credit Agreement accept all the provisions of Development Credit Regulations No. I of the Association dated June 1, 1961, 1 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 second sentence of Section 2.02 is amended by deleting the words "at the same rate" and substituting therefor the words "at the rate of one-half of one percent (Y of 1%) per annum". (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 Currencies in which Cost of Goods is to be Paid and Proceeds of the Credit are to be Withdrawn.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 "(b) The proceeds of the Credit shall be withdrawn from the Credit Account : "(i) on account of expenditures for goods produced in (including services supplied from) the territories of the Borrower, in such currency or currencies as the Association shall from time to time reasonably select ; "(ii) in all other cases, in the currency in which the cost of the goods financed out of such proceeds has been paid or is payable. "(c) The Borrower and the Association may from time to time agree on any other currency in which withdrawals shall be made." (c) A new Section 3.04 is inserted after Section 3.03 as follows : "SECTION 3.04. Purchase of Currency of Withdrawal with Other Currency. If withdrawal shall be made in any currency which the Association shall have purchased with another currency for the purposes of such withdrawal, the portion of the Credit so withdrawn shall be deemed to have been withdrawn from the Credit Account in such other currency for the purposes of Section 3.03." (d) Section 3.04 is re-numbered Section 3.05. ' See p. 298 of this volume. No. 8607
1967 Nations Unies - Recueil des Traites 281 Article premier RtGLEMENT SUR LES CRtDITS ; DtFINITIONS PARTICULItRES Paragraphe 1.01. Les parties au Contrat de credit de d~veloppement acceptent toutes les dispositions du R~glement no 1 de l'Association sur les credits de d~veloppement, en date du ler juin 1961 1, et leur reconnaissent la m~me force obligatoire et les m~mes effets que si eles figuraient int6gralement dans le pr6sent Contrat, sous r6serve des modifications ci-apr6s (ledit R~glement, ainsi modifi, 6tant ci-apr6s d6nomm ((le R~glement ))) : a) Dans la deuxi~me phrase du paragraphe 2.02, les mots ((au m~me taux)) sont remplac6s par les mots ((au taux annuel d'un demi pour cent ( p. 100) )); b) Le paragraphe 3.01 est remplac6 par le nouveau paragraphe suivant: ((PARAGRAPHE 3.01. Monnaies dans lesquelles le paiement du cort des marchandises et les tirages sur le Credit doivent 9tre effectuds. a) Sauf convention contraire entre 'Emprunteur et 1'Association, les marchandises financdes k 1'aide des fonds provenant du Cr6dit seront paydes dans les monnaies des pays ofi elles seront acquises. ((b) Les fonds provenant du Credit seront pr6lev~s sur le Compte du cr6dit : ( i) Lorsqu'il s'agira de rdgler des d~penses devant 6tre effectu~es dans la monnaie de 'Emprunteur ou de payer des marchandises produites (y compris des services fournis) sur le territoire de 'Emprunteur, dans la monnaie ou les monnaies que l'Association pourra raisonnablement choisir de temps k autre; (ii) En tous autres cas, dans la monnaie dans laquelle les marchandises financ~es h 'aide de ces fonds auront 6t6 payees ou seront payables. ((c) L'Emprunteur et l'Association pourront de temps h autre convenir que les tirages seront effectuds en une autre monnaie. ) c) Le nouveau paragraphe 3.04 suivant est ins~r6 apr6s le paragraphe 3.03 : ((PARAGRAPHE 3.04. Achat d'une monnaie de tirage i l'aide d'une autre monnaie. Si un tirage est effectu6 dans une monnaie que l'Association aura achetde h I'aide d'une autre monnaie aux fins de ce tirage, la fraction du Cr6dit ainsi prdlev~e sera considdre, aux fins du paragraphe 3.03; comme ayant 6t6 pr~levde sur le Compte du crddit dans cette autre monnaie. ) d) Le paragraphe 3.04 devient paragraphe 3.05. 1 Voir p. 299 de ce volume. NO 8607
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ANNEX A Ratifications, accessions,
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