Development Credit Agreement

Transcription

1 Public Disclosure Authorized CREDIT NUMBER 473 NIR CONFORMED COPY Public Disclosure Authorized Development Credit Agreement (Niarney International Airport Project) Public Disclosure Authorized BETWEEN REPUBLIC OF NIGER AND INTERNATIONAL DEVELOPMENT ASSOCIATION Public Disclosure Authorized DATED MAY 24, 1974

2 CONFORMED COPY CREDIT NUMBER 473 NIR Development Credit Agreement (Niamey International Airport Project) BETWEEN REPUBLIC OF NIGER AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED MAY 24, 1974

3 DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated May 24, 1974, between REPUBLIC OF NIGER (hereinafter called the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (hereinafter called the Association). WHEREAS (A) The Borrower has requested the Association to assist in the financing of the Project described in Schedule 2 to this Agreement by extending the Credit as hereinafter provided; (B) The Project will be carried out by Agence pour la ScuritM de la Navigation Adrienne en Afrique et c Madagascar (hereinafter called ASECNA), an international agency established pursuant to a convention signed in Saint Louis du Sdnigal on December 12, The Project will be carried out with the Borrower's assistance and, as part of such assistance, the Borrower will make available to ASECNA the proceeds of the Credit as hereinafter provided; and (C) The Association is willing to make the Credit available upon the terms and conditions set forth hereinafter and in a project agreement to be entered into between the Association and ASECNA; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I General Conditions; Definitions Section The parties to this Agreement accept all the provisions of the General Conditions Applicable to Development Credit Agreements of the Association, dated January 31, 1969, with the same force and effect as if they were fully set forth herein, subject, however, to the deletion of Sections 5.01 and 6.02(h) thereof and to the renumbering of Section 6.02(i) into 6.02(h) thereof (said General Conditions Applicable to Development Credit Agreements of the Association, as so modified, being hereinafter called the General Conditions). Section Wherever used in this Agreement, unless the context otherwise requires, the several terms defined in the General Conditions have the respective meanings therein set forth and the following additional terms have the following meanings:

4 4 (a) "Project Agreement" means the agreement to be entered into between the Association and ASECNA, as the same may be amended from time to time, and such term includes all schedules to the Project Agreement; (b) "Program" means the investment program, as set forth in Schedule 4 to this Agreement, which is the first phase of the long-term development plan prepared by ASECNA for the development of the Airport, as it may be amended from time to time; (c) "Airport" means the Niamey International Airport, and such term includes the facilities and services set forth in Schedule 3 to this Agreement; (d) "Convention" means the Convention relative a la cration d'une Agence chargde de gerer les installations et services destines a assurer la securitg de la navigation adrienne en Afrique et & Madagascar signed in Saint Louis du Sdnigal on December 12, 1959, as amended; (e) "Statuts" means the statuts of ASECNA dated December 12, 1959, as amended; (f) "Cahier des charges" means the Cahier des charges relatif a la gestion des installations et services of ASECNA dated December 12, 1959, as amended; (g) "Contrat particulier" means the agreement between the Borrower and ASECNA dated May 12, 1961, as amended; (h) "Contrat spcial" means the contract to be entered into between the Borrower and ASECNA, for the purposes of the execution of the Project; and (i) "CFAF" means the currency unit of the Borrower. ARTICLE II The Credit Section The Association agrees to lend to the Borrower, on the terms and conditions in the Development Credit Agreement set forth or referred to, an amount in various currencies equivalent to five million dollars ($5,000,000). Section The amount of the Credit may be withdrawn from the Credit Account in accordance with the provisions of Schedule 1 to this Agreement, as such Schedule shall be amended from time to time, for expenditures made (or,

5 0 5 if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project and to be financed under this Development Credit Agreement; provided, however, that, except as the Association shall otherwise agree, no withdrawal shall be made on account of expenditures in the territories of any country which is not a member of the Bank (other than Switzerland) or for goods produced in, or services supplied from, such territories. Section Except as the Association shall otherwise agree, the goods and services required for the Project and to be financed out of the proceeds of the Credit shall be procured pursuant to the provisions set forth or referred to in Section 2.04 of the Project Agreement. Section The Closing Date shall be December 3 1, 1976 or such other date as shall be agreed between the Borrower and the Association. Section The Borrower shall pay to the Association a service charge at the rate of three-fourths of one per cent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time io time. Section Service charges shall be payable semi-annually on January I and July 1 in each year. Section The Borrower shall repay the principal amount of the Credit in semi-annual installments payable on each January I and July 1 commencing July 1, 1984 and ending January 1, 2024, each installment to and including the installment payable on January 1, 1994 to be one-half of one per cent (1/2 of 1%) of such principal amount, and each installment thereafter to be one and one-half per cent (1-1/2%) of such principal amount. Section The currency of the Republic of France is hereby specified for the purposes of Section 4.02 of the General Conditions. ARTICLE III Execution of the Project Section (a) Without any limitation or restriction upon any of its other obligations under this Development Credit Agreement, the Borrower shall cause ASECNA to perform in accordance with the provisions of the Project Agreement all the obligations therein set forth, shall take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary

6 6 or appropriate to enable ASECNA to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance. (b) The Borrower shall make available to ASECNA the proceeds of the Credit on terms and conditions satisfactory to the Association. (c) The Borrower shall exercise its rights under the Contrat Particulier and the Contrat Special in such manner as to protect the interests of the Borrower and the Association and to accomplish the purposes of the Credit. Section The Borrower shall take all such action as shall be necessary to acquire, as and when needed, all such land and rights in respect of land as shall be required for the carrying out of the Project and the efficient operation of the Airport. ARTICLE IV Other Covenants Section Except as the Association shall otherwise agree, the Borrower: (a) shall undertake or cause to be undertaken all investments and shall take or cause to be taken such other action as shall be necessary for completion of the Program, and (b) shall not amend the Program. Section Until completion of the Program, the Borrower shall not carry out, or authorize any third party to carry out, any investment in the Airport, which would not be an item of the Program and which, by itself or together with any other such investment in any fiscal year of the Borrower, would exceed the equivalent of two hundred fifty thousand dollars ($250,000), unless the Association shall have agreed on the investment and the financing therefor. Section (a) Except as the Association shall otherwise agree, the Borrower shall take or cause to be taken all measures necessary, including establishing and maintaining tariffs for landing and other charges at the Airport at an appropriate level to produce: (i) an annual operating ratio (before depreciation) of not more than 60% in 1978 and of not more than 55% in 1981 and thereafter, and (ii) an annual rate of return on net fixed assets in operation of at least 7-1/4% in 1982 and thereafter; provided that due attention shall be paid in planning and carrying out such measures, including the timing for their implementation, to the effect they may have on the traffic using that airport.

7 7 (b) For the purpose of this Section: (i) "annual operating ratio" means all operating expenses charged to the Airport, including administrative overhead and maintenance expenses and taxes, divided by gross operating revenues from the provision of services and facilities at the Airport for the year concerned; (ii) the "annual return" shall be calculated by relating the Airport's net operating revenues for the fiscal year under consideration to the average of the value of the Airport's net fixed assets (excluding navigational and other facilities not used exclusively for the Airport's operations) in operation at the beginning and at the end of such year; (iii) "net operating revenues" shall be calculated by deducting the Airport's operating- expenses for the fiscal year under consideration from the Airport's gross operating revenues for the same period; (iv) the tcrm "net fixed assets in operation" means the original cost of all fixed assets in operation (excluding navigational and other facilities not used exclusively for the Airport's operations) adjusted from time to time to reflect the current replacement value of such assets, less accumulated depreciation thereon; and (v) the terms "operating expenses" and "fixed assets" means, respectively, the expenses incurred and fixed assets affected to the Airport utilized for the purpose of operating the facilities and services described in Schedule 3 to this Agreement and managed by ASECNA. (c) Except as the Association shall otherwise agree, and without any limitation upon the provisions of paragraph (a) of this Section, the Borrower shall, upon completion of the Project, in order to improve the Airport's financial situation, take or cause ASECNA to: (i) increase aircraft landing tariffs by 10%, and (ii) levy a handling charge of $20 per ton on goods imported through the Airport, or take any other necessary actions to produce an effect equivalent to that of the combined actions referred to in sub-paragraphs (i) and (ii) hereof.

8 8 ARTICLE V Consultation, Information and Inspection Section The Borrower and the Association shall cooperate fully to assure that the purposes of the Credit will be accomplished. To that end, the Borrower and the Association shall from time to time, at the request of either party: (a) exchange views through their representatives with regard to the performance of their respective obligations under this Development Credit Agreement, the performance by ASECNA of its obligations under the Project Agreement, the administration, operations and financial condition of ASECNA and the resources and expenditures, in respect of the Project, of the departments or agencies of the Borrower responsible for carrying out any part of the Project, and other matters relating to the purposes of the Credit; and (b) furnish to the other all such information as it shall reasonably request with regard to the general status of the Credit. On the part of the Borrower, such information shall include information with respect to financial and economic conditions in the territories of the Borrower, including its balance of payments, and the external debt of the Borrower, of any of its political subdivisions and of any agency of the Borrower or of any such political subdivision. Section (a) The Borrower shall furnish or cause to be furnished to the Association all such information as the Association shall reasonably request concerning the administration, operations and financial condition of ASECNA, and the resources and expenditures, in respect of the Project, of the departments or agencies of the Borrower responsible for carrying out any part of the Project. (b) The Borrower and the Association shall promptly inform each other of any condition which interferes with, or threatens to interfere with, the accomplishment of the purposes of the Credit, the maintenance of the service thereof, the performance by either of them of its obligations under this Development Credit Agreement or the performance by ASECNA of its obligations under the Project Agreement. Section The Borrower shall afford all reasonable opportunity for accredited representatives of the Association to visit any part of the territories of the Borrower for purposes related to the Credit.

9 9 ARTICLE VI Taxes and Restrictions Section The principal of, and service charges on, the Credit shall be paid without deduction for, and free from, any taxes imposed under the laws of the Borrower or laws in effect in its territories. Section This Development Credit Agreemnt and the Project Agreement shall be free from any taxes on or in connection with the execution, delivery or registration thereof, imposed under the laws of the Borrower or laws in effect in its territories. Section The payment of the principal of, and service charges on, the Credit shall be free from all restrictions, regulations, controls and moratoria of any nature imposed under the laws of the Borrower or laws in effect in its territories. ARTICLE VII Remedies of the Association Section If any event specified in Section 7.01 of the General Conditions or in Section 7.03 of this Agreement shall occur and shall continue for the period, if any, therein set forth, then at any subsequent time during the continuance thereof, the Association, at its option, may by notice to the Borrower declare the principal of the Credit then outstanding to be due and payable immediately together with the service charges thereon and upon any such declaration such principal and service charges shall become due and payable immediately, anything to the contrary in this Development Credit Agreement notwithstanding. Section For the purposes of Section 6.02 of the General Conditions, the following additional events are specified: (a) ASECNA shall have failed to perform any of its obligations under the Project Agreement; (b) an extraordinary situation shall have arisen which shall make it improbable that ASECNA will be able to perform its obligations under the Project Agreement;

10 10 (c) the Convention, the Statuts or the Cahier des charges shall have been amended, abrogated, repealed or waived in such a way as to materially and adversely affect the carrying out of the Project or the ability of ASECNA to carry out its other obligations under the Project Agreement, the Contrat Particulier or the Contrat Special; (d) the Contrat Particulier or the Contrat Special shall have been assigned, amended, suspended, abrogated, repealed or waived in such a way as to materially and adversely affect the carrying out of the Project or the proper maintenance and operation of the Airport; and (e) the Borrower or any other authority having jurisdiction shall have taken any action for the suspension of all or a substantial part of the operations of ASECNA within the Borrower's territories. Section For the purposes of Section 7.01 of the General Conditions, the following additional events are specified: (a) the event specified in paragraph (b) of Section 7.02 of this Agreement shall occur; and (b) any of the events specified in any other paragraph of Section 7.02 of this Agreement shall occur and shall continue for a period of 60 days after notice thereof shall have been given by the Association to the Borrower. ARTICLE VIII Effective Date; Termination Section The following events are specified as additional conditions to the effectiveness of this Development Credit Agreement within the meaning of Section 10.01(b) of the General Conditions: (a) The execution and delivery of the Project Agreement on behalf of ASECNA have been duly authorized or ratified by all necessary corporate and governmental action. (b) The Borrower and ASECNA shall have entered into a Contrat Special under terms and conditions satisfactory to the Association providing, inter alia, for the Borrower making available to ASECNA the proceeds of the Credit, and the execution and delivery of such Contrat Spcial on behalf of the parties thereto shall have been duly authorized and ratified by all necessary corporate and governmental action.

11 Ai 11 Section The following are specified as additional matters, within the meaning of Section 10.02(b) of the General Conditions, to be included in the opinion or opinions to be furnished to the Association: (a) That the Project Agreement has been duly authorized or ratified by, and executed and delivered on behalf of, ASECNA, and constitutes a valid and binding obligation of ASECNA in accordance with its terms. (b) That the Contrat Spcial has been duly authorized or ratified by, and executed and delivered on behalf of, the Borrower and ASECNA, respectively, and constitutes a valid and binding obligation of the Borrower and ASECNA in accordance with its terms. Section The date August 27, 1974 is hereby specified for the purposes of Section of the General Conditions. Section The obligations of the Borrower under Article Ill of this Agreement and the provisions of Sections 6.02 and 6.03 of this Agreement shall cease and determine on the date on which the Development Credit Agreement shall terminate or on a date 26 years after the date of this Agreement, whichever shall be the earlier. ARTICLE IX Representative of the Borrower; Addresses Section The Ministre du D&eloppement et de la Coopration of the Borrower is designated as representative of the Borrower for the purposes of Section 9.03 of thp General Conditions. Section The following addresses are specified for the purposes of Section 9.01 of the General Conditions: For the Borrower: Minist're du Ddveloppement et de la Cooperation Niamey Republic of Niger Cable address: Ministere du Developpement et de la Cooperation Niamey

12 12 For the Association: International Development Association 1818 H Street, N.W. Washington, D.C United States of America Cable address: INDEVAS Washington, D.C. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Agreement to be signed in their respective names and to be delivered in the District of Columbia, United States of America, as of the day and year first above written. REPUBLIC OF NIGER By /s/ H. E. Abdoulaye Diallo Authorized Representative INTERNATIONAL DEVELOPMENT ASSOCIATION By /s/ R. Chaufournier Regional Vice President Western Africa

13 13 SCHEDULE I Withdrawal of the Proceeds of the Credit 1. The table below sets forth the Categories of items to be financed out of the proceeds of the Credit, the allocation of amounts of the Credit to each Category and the percentage of eligible expenditures so to be financed in each Category: Amount of the Credit Allocated % of (Expressed in Expenditures Category Dollar Equivalent) to be Financed I. Civil Works - 2,900,000 85% of total Part A of the expenditures Project II. Equipment and 800, % of foreign Services - expenditures or Part B of the 85% of total ex- Project penditures III. Consultants' 200, % of foreign Services - expenditures or Part C of the 85% of total ex- Project penditures IV. Unallocated 1,100,000 TOTAL 5,000, For the purposes of this Schedule: (a) the term "foreign expenditures" means expenditures for goods produced in, or services supplied from, the territories, and in the currency, of any country other than the Borrower; provided, however, that if the currency of the Borrower is also that of another country in the territories of which goods are produced or from the territories of which services are supplied, expenditures in such currency for such goods or services shall be deemed to be "foreign expenditures"; and (b) the term "local expenditures" means expenditures for goods produced in, or services supplied from, the territories of the Borrower.

14 14 3. Notwithstanding the provisions of paragraph I above, no withdrawals shall be made in respect of: (a) expenditures prior to the date of this Agreement; and (b) payments for taxes imposed under the laws of the Borrower or laws in effect in its territories on goods or services, or on the importation, manufacture, procurement or supply thereof. To the extent that the amount represented by the percentage set forth in the third column of the table in paragraph I above in respect of any Category would exceed the amount payable net of all such taxes, such percentage shall be reduced to ensure that no proceeds of the Credit will be withdrawn on account of payments for such taxes. 4. Notwithstanding the allocation of an amount of the Credit set forth in the second column of the table in paragraph I above: (a) if the estimate of the expenditures under any Category shall decrease, the amount of the Credit then allocated to such Category and no longer required therefor will be reallocated by the Association by increasing correspondingly the unallocated amount of the Credit; (b) if the estimate of the expenditures under any Category shall increase, the percentage set forth in the third column of the table in paragraph 1 above in respect of such expenditures shall be applied to the amount of such increase, and a corrcsponding amount will be allocated by the Association, at the request of the Borrower, to such Category from the unallocated amount of the Credit, subject, however, to the requirements for contingencies, as determined by the Association, in respect of any other expenditures; and (c) if the Association shall have reasonably determined that the procurement of any item in any Category is inconsistent with the procedures set forth or referred to in Section 2.04 of the Project Agreement, no expenditures for such item shall be financed out of the proceeds of the Credit and the Association may, without in any way restricting or limiting any other right, power or remedy of the Association under the Development Credit Agreement, by notice to the Borrower, cancel such amount of the Credit as in the Association's reasonable opinion, represents the amount of such expenditures which would otherwise have been eligible for financing out of the proceeds of the Credit. 5. Notwithstanding the percentages set forth in the third column of the table in paragraph I above, if the estimate of total expenditures under Category I or

15 15 of local expenditures under Categories II or III shall increase and no proceeds of the Credit are available for reallocation to such Category, the Association may, by notice to the Borrower, adjust the percentage then applicable to such expenditures in order that further withdrawals under such Category may continue until all expenditures thereunder shall have been made.

16 16 SCHEDULE 2 Description of the Project The purpose of the Project is to enable large, modern, long-range aircraft to use, safely and economically, the Niamey international airport. The Project comprises the major investment items of the Program for the maintenance and improvement of the Airport, and consists of: Part A 1. Strengthening the existing runway and taxiway. 2. Construction to lengthen the existing runway from 2,570 m to about 2,770 m, with a turning area and overshoot (stopway) of about 200 m. Part B 3. Construction to widen and strengthen a portion of the existing apron, and to add one heavy-aircraft parking position. 4. Construction of blast protection on shoulders of the apron, taxiway and runway. Part C 1. Replacement and relocation of the localizer of the instrument landing system, including acquisition of additional equipment therefor. 2. Acquisition and installation of high-intensity runway lighting equipment and a high-intensity approach lighting system. 3. Acquisition and installation of meteorological equipment, a ceilometer to determine cloud and ceiling heights, and a transmissometer to measure visibility on the runway. Consultants' services for Part A and Part B above. The Project is expected to be completed by June 30, 1976.

17 17 SCHEDULE 3 Airport's Facilities and Services (A) Basic landing facilities and services Landing area with cleared approaches and taxiways with necessary drainage, fencing, etc. Air traffic control for approach, landing, taxiing and take-off with necessary communications (sometimes partly or wholly provided by other than the Airport operators). Apron for temporary parking, loading, unloading and servicing aircraft. Passenger and public waiting rooms and concourse with necessary heating, lighting, janitor service, police service, approach roads, etc. Fire and ambulance service in attendance. (B) Special landing facilities and services At night and during bad visibility by day: Lights for approach, landing, taxiing and take-off, radio and other special aids for approach, landing and take-off (sometimes provided by other than the Airport operator). (C) Other facilities and services provided for aircraft operators Hangar, workshop, stores, garage and other technical accommodation. Parking space for longer than necessary for routine loading, unloading, and servicing. Land leased to aircraft operators for various purposes. Assistance in handling passengers and cargo, and necessary equipment. Towing and other handling of aircraft. Special servicing of aircraft (air conditioning, cleaning, etc.)

18 18 Accommodation for airline offices, traffic counters and air crews, and for the handling of passengers and cargo. Communication facilities (aircraft operating agency messages - Class B). Provision of aircraft fuel and other technical supplies, and also of maintenance and repairs for aircraft (usually via concessions). Common services such as the provision of light, heat, power and heating fuel. (D) Accommodation for other than aircraft operators Accommodation for shops, hotels, restaurants, parcel checking rooms, motor transport organization, telegraph office, post office, banks, etc. Facilities paid for directly by the public (sight-seeing, car parking, etc.) Accommodation for necessary Borrower's activities, customs, immigration, public health, agricultural quarantine, etc. Land rented to other than aircraft operators (including grazing rights, etc.)

19 * 19 SCHEDULE 4 Description of the Program The investment program for the maintenance and improvement of the Niamey International Airport is the first phase of the long-term plan prepared by ASECNA for the development of the Airport. The Program consists of: Part A. Part B. Part C. Part D. The Project described in Schedule 2 to this Agreement. Freight shed extension. Transfer of offices and construction of additional housing and parking. Equipment renewal.