OFFICIAL DOCUMENTS CREDIT NUMBER 1742 MAT Development Credit Agreement (Second Lilongwe Water Supply Project) between REPUBLIC OF MALAWI and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated A/, 1987 CREDIT NUMBER 1742 MAI DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated 4 3, 1987, between REPUBLIC OF MALAWI (the Borrower) and INTEATIONA DEVELOPMENT ASSOCIATION (the Association). WHEREAS: (A) the Borrower, having satisfied itself as to the feasibility and priority of t:e Project described in Schedule 2 to this Agreement, has requested the Association to assist in the financing of the Project; (B) the Borrower and the Overseas Development Administra- tion of the United Kingdom intend to enter into an agreement (the ODA Grant Agreement) for the purpose of making a grant (herein- after called the ODA Grant) to the Borrower in an amount of five hundred sixteen thousand Pounds Sterling (E516,000) to assist in financing Part E of the Project on the terms and conditions set forth in the ODA Grant Agreement; (C) the Borrower intends to contract from the European Investment Bank (hereinafter called EIB) loans (the EIB Loans) in an aggregate amount approximately equivalent to six million five hundred thousand dollars ($6,500,000) to assist in the financing of Parts A and B (1) of the Project on the terms and conditions set forth in agreements (the EIB Loan Agreements) to be entered into between the Borrower and EIB; (D) Parts A through E of the Project will be carried out by Lilongwe Water Board (hereinafter called LWB) with the Borrower's assistance and, as part of such assistance, the Borrower will make available to LWB part of the proceeds of the Credit as provided in this Agreement; and WHEREAS the Association has agreed, on the basis, inter alia, of the foregoing, to extend the Credit to the Borrower upon the terms and conditions set forth in this Agreement and in the Project Agreement of even date herewith between the Association and LWB; NOW THEREFORE the parties hereto hereby agree as follows: -2- ARTICLE I General Conditions; Definitions Section 1.01. The "General Conditions Applicable to Develop- ment Credit Agreements" of the Association, dated January 1, 1985, with the last sentence of Section 3.02 deleted (the General Conditions), constitute an integral part of this Agreement. Section 1.02. Unless the context otherwise requires, the several terms defined in the General Conditions and in the Pre- amble to this Agreement have the respective meanings therein set forth and the following additional terms have the foilowing mean- ings: (a) "LWB" means Lilongwe Water Board, a statutory body of the Borrower, established under the Waterworks (Lilongwe Water- Area and Water Board) Proclamation, 1984 (Government Notice No. 73 of 1984), made pursuant to Sections 3 and 4 of the Waterworks Act (Cap. 72:01) of the Laws of Malawi, as such Act and Proclama- tion may be amended from time to time; (b) "Project Agreement" means the Agreement between the Association and LWB of even date herewith, as the same may be amended from time to time, and such term includes all schedules and agreements supplemental to the Project Agreement; (c) "Subsidiary Loan Agreement" means the agreement to be entered into between the Borrower and LWB pursuant to Sec- tion 3.01 (c) of this Agreement, as the same may be amended from time to time, and such term includes all schedules to the Sub- sidiary Loan Agreement; (d) "LWB Special Account" means the account referred to in Section 2.02 (b) of this Agreement; and (e) "Malawi kwacha" and "K" mean the currency of the Borrower. ARTICLE II The Credit Section 2.01. The Association agrees to lend to the Bor- rower, on the terms and conditions set forth or referred to in -3- the Development Credit Agreement, an amount in various currencies equivalent to sixteen million six hundred thousand Special Draw- ing Rights (SDR 16,600,000). Section 2.02. (a) 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 may be amended from time to time by agreement between the Borrower and the Asso- ciation, for expenditures made (or, 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 out of the proceeds of the Credit. (b) The Borrower shall, for the purposes of Parts A through E of the Project, cause a special account to be opened and main- tained in dollars in a commercial bank on terms and conditions satisfactory to the Association. Deposits into, and payments out of, the Special Account shall be made in accordance with the pro- visions of Schedule 4 to this Agreement. Section 2.03. The Closing Date shall be June 30, 1993, or such later date as the Association shall establish. The Asso- ciation shall promptly notify the Borrower of such later date. Section 2.04. (a) The Borrower shall pay to the Association a commitment charge at the rate of one-half of one percent (1/2 of 1%) per annum on the principal amount of the Credit not with- drawn from time to time. The commitment charge shall accrue from a date sixty (60) days after the date of the Development Credit Agreement to the respective dates on which amounts shall be with- drawn by the Borrower from the Credit Account or shall be cancelled. (b) The commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the General Conditions or in such other eligible currency or currencies as may from time to time be designated or selected pursuant to the provisions of that Section. Section 2.05. The Borrower shall pay to the Association a service charge at the rate of three-fourths of one percent (3/4 of 1%) per annum on the principal amount of the Credit withdrawn and outstanding from time to time. -4- Section 2.06. Commitment charges and service charges shall be payable semiannually on May 1 and November 1 in each year. Section 2.07. The Borrower shall repay the principal amount of the Credit in semiannual installments payable on each May 1 and November 1 commencing May 1, 1997, and ending November 1, 2036. Each installment to and including the installment payable on November 1, 2006, shall be one-half of one percent (1/2 of 1%) of such principal amount, and each installment thereaftez shall be one and one-half percent (1-1/2%) of such principal amount. Section 2.08. The currency of the United States of America is hereby specified for the purposes of Section 4.02 of the General Conditions. ARTICLE III Execution of the Project Section 3.01. (a) The Borrower declares its commitment to the objectives of the Project as set forth in Schedule 2 to this Agree-.ent, and, to this end, shall carry out Part F of the Pro- ject through its Ministry of Local Government with due diligence and efficiency and in conformity with appropriate administrative, financial, engineering and public utility practices and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project. (b) Without any limitation or restriction upon the pro- visions of paragraph (a) of this Section, the Borrower shall cause LWB to carry out Parts A through E of the Project, in accordance with the provisions of the Project Agreement, and to perform all the obligations of LWB therein set forth, shall take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable LWB to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance. (c) The Borrower shall relend an amount not exceeding the equivalent of sixteen million one hundred thousand Special Drawing Rights (SDR 16,100,000) from the proceeds of the Credit to LWB under a subsidiary loan agreement to be entered into between the Borrower and LWB, under terms and conditions accept- able to the Association which, unless otherwise agreed by the - 5 - Association, shall include: (i) repayment of principal over a period of 25 years including a grace period of six years; (ii) the capitalization of all interest accruing during the grace period and payment thereof with the principal amount of the Subsidiary Loan over the remaining period of nineteen years; and (iii) the payment of interest on principal and on interest capitalized in accordance with (c) (ii) above, at the rate of eleven percent per annum. (d) The Borrower shall exercise its rights under the Sub- sidiary Loan Agreement in such manner as to protect the interests of the Borrower and the Association and to accomplish the pur- poses of the Credit, and, except as the Association shall other- wise agree, the Borrower shall not assign, amend, abrogate or waive the Subsidiary Loan Agreement or any provision thereof. Section 3.02. (a) The Borrower undertakes to make available to LWB funds in an aggregate amount of two million Malawi kwacha for the partial financing of Parts A through E of the Project, under an agreement to be entered into between the Borrower and LWB, not later than June 30, 1987. (b) The terms and conditions of said agreement shall be acceptable to the Association, and, except as the Association shall otherwise agree: (i) the rate of interest shall not exceed the rate charged under the Subsidiary Loan Agreement; (ii) payment of interest shall be made n an annual basis; and (iii) repayment of principal shall commence not earlier than January 1, 1993. Section 3.03. Except as the Association shall otherwise agree, procurement of the goods, works and consultants' services required for the Project and to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 3 to this Agreement. Section 3.04. The Borrower and the Association hereby agree that the obligations set forth in Sections 9.03, 9.04, 9.05, 9.06, 9.07 and 9.08 of the General Conditions (relating to in- surance, use of goods and services, plans and schedules, records -6- and reports, maintenance and land acquisition, Xespectively) in respect of Parts A through E of the Project shall be carried out by LWB pursuant to Section 2.03 of the Project Agreement. ARTICLE IV Other Covenants Section 4.01. The Borrower shall: (a) ensure that all families to be displaced as a result of land acquisition by LWB for purposes of the Project shall be adequately compensated and relocated in accordance with a plan acceptable to the Association; and (b) unless the Association shall otherwise agree, reimburse LWB for any land acquisition and relocation costs in excess of K 200,000. Section 4.02. The Borrower shall take all measures neces- sary to enable LWB to earn the rates of return specified in Sec- tion 4.02 (a) of the Project Agreement and, to this end, shall approve such water tariff increases for the fiscal years 1986/87 through 1991/92 as shall be necessary to enable LWB to achieve said objective. Section 4.03. The Borrower shall, no later than March 31, 1989, sign an agreement with LWB whereby LWB shall pay to the Borrower the cost of the facilities and equipment comprising the augmentation scheme which increased the daily capacity of LWB from 20,000 cubic meters to 30,000 cubic meters. The term and conditions of such agreement shall be acceptable to the Association. ARTICLE V Remedies of the Association Section 5.01. Pursuant to Section 6.02 (h) of the General Conditions, the following additional events are specified: (a) LWB shall have failed to perform any of its obligations under the Project Agreement. (b) As a result of events which have occurred after the date of the Development Credit Agreement, an extraordinary situa- tion shall have arisen which shall make it improbable that LWB -7- will be able to perform its obligations under the Project Agree- ment. (c) The Waterworks (Lilongwe Water-Area and Water Board) Proclamation, 1984 (Government Notice No. 73 of 1984), the Waterworks Act (Cap. 72:01) or any subsequent enactment of the Borrower regulating LWB shall have been amended, suspended, abrogated, repealed or waived so as to affect materially and adversely the ability of LWB to perform any of its obligations under the Project Agreement. (d) The Borrower or any other authority having jurisdiction shall have taken any action for the dissolution or disestablish- ment of LWB or for the suspension of its operations. Section 5.02. Pursuant to Section 7.01 (d) of the General Conditions, the following additional events are specified: (a) the event specified in paragraph (a) of Section 5.01 of this Agreement shall occur and shall continue for a period of sixty (60) days after notice thereof shall have been given by the Association to the Borrower; and (b) the events specified in paragraphs (c) and (d) of Section 5.01 of this Agreement shall occur. ARTICLE VI Effective Date; Termination Section 6.01. The following events are specified as addi- tional conditions to the effectiveness of the Development Credit Agreement within the meaning of Section 12.01 (b) of the General Cond tions: (a) the Subsidiary Loan Agreement has been executed on behalf of the Borrower and LWB; and (b) the EIB Loan Agreements have been executed on behalf of the Borrower and EIB, and the Association has been notified that all conditions of effectiveness of the EIB Loans, other than the effectiveness of this Agreement, have been fulfilled. Section 6.02. The following are specified as additional matters, within the meaning of Section 12.02 (b) of the General Conditions, to be included in the opinion or opinions to be fur- nished to the Association: - 8 - (a) that the Project Agreement has been duly authorized or ratified by LWB and is legally binding upon LWB in accordance with its terms; and (b) that the Subsidiary Loan Agreement has been duly autho- rized or ratified by the Borrower and LWB and is legally binding upon the Borrower and LWB in accordance with its terms. Section 6.03. The date ninety (90) days after the date of this Agreement is hereby specified for the purposes of Section 12.04 of the General Conditions. Section 6.04. The obligations of the Borrower under Section 3.01 of this Agreement and the provisions of paragraphs (a) and (b) of Section 5.02 of this Agreement shall cease and determine on the date on which the Development Credit Agreement shall terminate or on the date twenty-five years after the date of this Agreement, whichever shall be the earlier. ARTICLE VII Representative of the Borrower; Addresses Section 7.01. The Minister of Finance of the Borrower is designated as representative of the Borrower for the purposes of Section 11.03 of the General Conditions. Section 7.02. The following addresses are specified for the purposes of Section 11.01 of the General Conditions: For the Borrower: Ministry of Finance P. 0. Box 30049 Capital City Lilongwe 3, Malawi Cable address: Telex: FINANCE 4407 Lilongwe For the Association: International Development Association 1818 H Street, N.W. Washington, D.C. 20433 United States of America -9- Cable address: Telex: INDEVAS 440098 (ITT) Washington, D.C. 248423 (RCA) or 64145 (WUI) IN WITNESS WHEREOF, the parties hereto, acting through their duly authorized representatives, have caused this Agreement to be signed in their respective names in the District of Columbia, United States of America, as of the day and year first above written. REPUBLIC OF MALAWI By Authoried Representative INTERNATIONAL DEVELOPMENT ASSOCIATION By 47/ ( -6C&vcRegional Vice President Tastern and Southern Africa - 10 - SCHEDULE 1 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 the amounts of the Credit to each Category and the percentage of expenditures for items so to be financed in each Category: Amount of the Credit Allocated % of (Expressed in Expenditures Category SDR Equivalent) to be Financed (1) Civil works: (a) Dam construc- 5,400,000 70% of foreign tion under expenditures and Part A of the 60% of local Project expenditures (b) Extension of 1,910,000 100% of foreign the water expenditures and treatment plant 70% of local under Part B (1) expenditures of the Project (c) Extension of the 1,000,000 100% of foreign transmission and expenditures and distribution 70% of local system under expenditures Part B (2) of the Project (2) Supply of: (a) Transmission 2,400,000 100% of foreign and distribu- expenditures and tion mains under 70% of local Part B (2) of the expenditures the Project - 11 - Amount of the Credit Allocated % of (Expressed in Expenditures Category SDR Equivalent) to be Financed (b) Vehicles, flow 80,000 100% of foreign metering equip- expenditures and ment and miscel- 70% of local laneous equipment expenditures and supplies under Part C of the Project (c) Miscellaneous 80,000 100% of foreign equipment and expenditures and supplies under 70% of local Part F (2) of expenditures the Project (3) (a) Consultants' 2,900,000 100% and advisers' services under Part D of the Project (b) Consultants' 330,000 100% and advisers' services under Part F of the Project (4) Salaries and 500,000 100% of foreign benefits for the expenditures Engineer/Manager and Financial Controller under Part E (1) of the Project (5) Unallocated 2,000,000 TOTAL 16,600,000 - 12 - 2. For the purposes of this Schedule: (a) the term "foreign expenditures" means expenditures in the currency of any country other than that of the Borrower for goods or services supplied from the territory of any country other than that of the Borrower; and (b) the term "local expenditures" means expenditures in the currency of the Borrower or for goods or services supplied from the territory of the Borrower. 3. Notwithstanding the provisions of paragraph 1 above, no withdrawals shall be made in respect of payments made for expenditures prior to the date of this Agreement. - 13 - SCHEDULE 2 Description of the Project The objectives of the Project are to extend and improve the water supply and waste disposal system of Lilongwe, the Bor- rower's capital city, and to strengthen the management of LWB. The Project consists of the following Parts, subject to such modifications thereof as the Borrower and the Association may agree upon from time to time to achieve such objectives: Part A: Expansion of Raw Water Source Works: (1) Construction of a new earthf ill dam on the Lilongwe River near Masula. (2) Remedial works on the existing water supply dam. Part B: Extension of Water Supply Facilities: (1) Extension of the Lilongwe water treatment plant including intake works and pumping stations, to increase its capacity by 32,000 cubic meters per day. (2) Extension of the transmission and distribution system to accommodate the increases in water supply capacity. Part C: Provision of vehicles, water meters and miscellaneous equip- ment to LWB. Part D: Consultants' services for engineering and supervision of construction under Parts A and B. Part E: Strengthening of the Management of LWB through the Provision of: (1) Support for high level management staff. (2) Training of LWB staff. - 14- Part F: Sanitation and Waste Disposal: (1) A feasibility study on the expansion and improvement of Lilongwe's sanitation and sewerage systems. (2) Continuation of a pilot project to demonstrate appropriate on-site sanitation facilities and practices. The Project is expected to be completed by December 31, 1992. - 15 - SCHEDULE 3 Procurement and Consultants' Services Section I: Procurement of Goods and Works Part A: International Competitive Bidding 1. Except as provided in Part D hereof, goods and works shall be procured under contracts awarded in accordance with procedures consistent with those set forth in Sections I and II of the "Guidelines for Procurement under IBRD Loans and IDA Credits", published by the Bank in May 1985 (the Guidelines). 2. Bidders for works included in Parts A and B of the Project shall be prequalified as described in paragraph 2.10 of the Guidelines. Part B: Preference for Domestic Manufacturers In the procurement of goods in accordance with the procedures described in Part A.1 hereof, goods manufactured in Malawi may be granted a margin of preference in accordance with, and subject to, the provisions of paragraphs 2.55 and 2.56 of the Guidelines and paragraphs 1 through 4 of Appendix 2 thereto. Part C: Preference for Domestic Contractors In the procurement of works in accordance with the procedures described in Part A.1 hereof, domestic contractors may be granted a margin of preference in accordance with, and subject to, the provisions of paragraphs 2.55 and 2.56 of the Guidelines and paragraph 5 of Appendix 2 thereto. Part D: Other Procurement Procedures: 1. Local Competitive Bidding: (a) Vehicles and equipment estimated to cost less than $50,000 up to an aggregate amount not exceeding the equivalent of $300,000 may be procured on the basis of competitive bidding, advertised locally, in accordance with procedures satisfactory to the Association. - 16 - (b) Construction materials for waste disposal units under Part F (2) of the Project, up to an aggregate amount not exceeding the equivalent of $100,000 may be procured: (i) directly from the Borrower's Ministry of Works and Supplies; or (ii) on the basis of competitive bidding, advertised locally, in accordance with procedures satisfactory to the Association if such items cannot be procured under subparagraph (i) ubove. 2. Force Account Civil works, up to an aggregate amount not exceeding the equivalent of $150,000 for waste disposal units under Part F (2) of the Project, may be constructed by the Borrower with the use of its own personnel and equipment. Part E: Review by the Association of Procurement Decisions: 1. Review of Prequalification: With respect to the prequalification of bidders as provided in Part A.2 hereof, the procedures set forth in paragraph 1 of Appendix 1 to the Guidelines shall apply. 2. Review of invitations to bid and proposed awards and final contracts: (a) With respect to each contract estimated to cost the equivalent of $50,000 or more, the procedures set forth in para- graphs 2 and 4 of Appendix 1 to the Guidelines shall apply. Where payments for such contracts are to be made out of the LWB Special Account, such procedures shall be modified to ensure that the two conformed copies of each contract required to be furnished to the Association pursuant to paragraph 2 of appendix 1 to the Guidelines shall be furnished to the Association prior to the making of the first payment out of the LWB Special Account, in respect of such contract. (b) With respect to each contract not governed by the pre- ceding paragraph, the procedures set forth in paragraphs 3 and 4 of Appendix 1 to the Guidelines shall apply. Where payments for such contracts are to be made out of the LWB Special Account, such procedures shall be modified to ensure that the two con- formed copies of each contract, together with the other informa- tion required to be furnished to the Association pursuant to paragraph 3 of Appendix 1 to the Guidelines, shall be furnished - 17 - to the Association as part of the evidence to be furnished pur- suant to paragraph 4 of Schedule 4 to this Agreement. (c) The provisions of the preceding subparagraphs (a) and (b) shall not apply to contracts on account of which the Associa- tion has authorized withdrawals from the Credit Account on the basis of statements of expenditure. Such contracts shall be retained in accordance with Section 4.01 (c) (ii) of the Project Agreement. 3. The figure of ten percent (10%) is hereby specified for pur- poses of paragraph 4 of Appendix 1 to the Guidelines. Section II: Employment of Consultants In order to assist in carrying out the Project, the Borrower and LWB shall each employ consultants whose qualifications, experience and terms and conditions of employment shall be satisfactory to the Association. Such consultants shall be selected in accordance with principles and procedures satisfactory to the Association on the basis of the "Guidelines for the Use of Consultants by World Bank Borrowers and by The World Bank as Executing Agency", published by the Bank in August 1981. - 18 - SCHEDULE 4 LWB Special kccount 1. For the purposes of this Sche-ale: (a) the term "eligible Categories" means Categories I through 4 set forth in the table in paragraph 1 of Schedule 1 to this Agreement; (b) the term "eligible expenditures" means expenditures in respect of the reasonable cost of goods and services required for Parts A through E of the Project and to be financed out of the proceeds of the Credit allocated from time to time to the eligi- ble Categories in accordance with the provisions of Schedule 1 to this Agreement; and (c) the term "Authorized Allocation" means an amount equi- valent to $1,500,000 to be withdrawn from the Credit Account and deposited into the LWB Special Account pursuant to para- graph 3 (a) of this Schedule. 2. Except as the Association shall otherwise agree, payments out of the LWB Special Account shall be made exclusively for eligible expenditures in accordance with the provisions of this Schedule. 3. After the Association has received satisfactory evidence that the LWB Special Account has been duly opened, withdrawals of the Authorized Allocation and subsequent withdrawals to reple- nish the LWB Special Account may be made as follows: (a) On the basis of a request or requests by the Borrower for a deposit or deposits which add up to the aggregate amount of the Authorized Allocation, the Association shall, on behalf of the Borrower, withdraw from the Credit Account and deposit into the LWB Special Account such amount or amounts as the Borrower shall have requested. (b) The Borrower shall furnish to the Association requests for replenishment of the LWB Special Account at such intervals as the Association shall specify. On the basis of such requests, the Association shall withdraw from the Credit Account and deposit into the LWB Special Account such amounts as shall be required to replenish the LWB Special Account with amounts not exceeding the - 19 - amount of payments made out of the LWB Special Account for eligi- ble expenditures. All such deposits shall be withdrawn by the Association from the Credit Account under the respective eligible Categories and in the respective equivalent amounts, as shall have been justified by the evidence supporting the request for such deposit furnished pursuant to paragraph 4 of this Schedule. 4. For each payment made by the Borrower out of the LWB Special Account for which the Borrower requests replenishment pursuant to paragraph 3 (b) of this Schedule, the Borrower shall furnish to the Association, prior to or at the time of such request, such documents and other evidence as the Association shall reasonably request, showing that such payment was made for eligible expenditures. 5. (a) Notwithstanding the provisions of paragraph 3 of this Schedule, no further deposit into the LWB Special Account shall be made by the Association when either of the following situa- tions first arises: (i) the Association shall have determined that all further withdrawals should be made directly by the Borrower from the Credit Account in accor- dance with the provisions of paragraph (a) of Section 2.02 of this Agreement; or (ii) the total unwithdrawn amount of the Credit allo- cated to the eligible Categories for Parts A through E of the Project, minus the amount of any outstanding special commitment entered into by the Association, pursuant to Section 5.02 of the General Conditions, with respect to Parts A through E of the Project, shall be equal to the equivalent of twice the amount of the Authorized Allocation. (b) Thereafter, withdrawal from the Credit Account of the remaining unwithdrawn amount of the Credit allocated to the eli- gible Categories for Parts A through E of the Project shall follow such procedures as the Association shall specify by notice to the Borrower. Such further withdrawals shall be made only after and to the extent that the Association shall have been satisfied that all such amounts remaining on deposit in the LWB Special Account as of the date of such notice have been or will be utilized in making payments for eligible expenditures. - 20 - 6. (a) If the Association shall have determined at any time that any payment out of the LWB Special Account: (i) was made for any expenditure or in any amount not eligible pursuant to paragraph 2 of this Schedule; or (ii) was not justified by the evidence furnished pursuant to paragraph 4 of this Schedule, the Borrower shall, promptly upon notice from the Association, deposit into the LWB Special Account (or, if the Association shall so request, refund to the Association) an amount equal to the amount of such payment or the portion thereof not so eligible or justified. No further deposit by the Association into the LWB Special Account shall be made until the Borrower has made such deposit or refund. (b) If the Association shall have determined at any time that any amount outstanding in the LWB Special Account will not be required to cover further payments for eligible expenditures, the Borrower shall, promptly upon notice from the Aazociation, refund to the Association such outstanding amount for crediting to the Credit Account. INTERNATIONAL DEVELOPMENT ASSOCIATION CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the International Development Association. I FOR SECRETARY