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CONFORMED COPY 
 
CREDIT NUMBER 4712-TA 
 
Financing Agreement 
 
(Housing Finance Project) 
 
between 
 
UNITED REPUBLIC OF TANZANIA 
 
and 
 
INTERNATIONAL DEVELOPMENT ASSOCIATION 
 
Dated March 31, 2010  
 
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CREDIT NUMBER 4712-TA 
FINANCING AGREEMENT 
AGREEMENT dated March 31, 2010, entered into between the UNITED 
REPUBLIC OF TANZANIA (“Recipient”) and the INTERNATIONAL 
DEVELOPMENT ASSOCIATION (“Association”).  The Recipient and the Association 
hereby agree as follows: 
ARTICLE I 
—
GENERAL CONDITIONS; DEFINITIONS 
1.01. 
The General Conditions (as defined in the Appendix to this Agreement) 
constitute an integral part of this Agreement. 
1.02. 
Unless the context requires otherwise, the capitalized terms used in this 
Agreement have the meanings ascribed to them in the General Conditions or in 
the Appendix to this Agreement.  
ARTICLE II — FINANCING 
2.01. 
The Association agrees to extend to the Recipient, on the terms and conditions 
set forth or referred to in this Agreement, a credit in an amount equivalent to 
twenty five million six hundred thousand Special Drawing Rights 
 
(SDR 25,600,000 ) (variously, “Credit” and “Financing”) to assist in financing 
the project described in Schedule 1 to this Agreement (“Project”). 
2.02. 
The Recipient may withdraw the proceeds of the Financing in accordance with 
Section IV of Schedule 2 to this Agreement.   
2.03. 
The Maximum Commitment Charge Rate payable by the Recipient on the 
Unwithdrawn Financing Balance shall be one-half of one percent (1/2 of 1%) per 
annum. 
2.04. 
The Service Charge payable by the Recipient on the Withdrawn Credit Balance 
shall be equal to three-fourths of one percent (3/4 of 1%) per annum. 
2.05. 
The Payment Dates are May 15 and November 15 in each year. 
2.06. 
The principal amount of the Credit shall be repaid in accordance with the 
repayment schedule set forth in Schedule 3 to this Agreement. 
2.07. 
The Payment Currency is Dollars. 
 
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ARTICLE III 
—PROJECT
 
3.01. 
The Recipient declares its commitment to the objectives of the Project. To this 
end, the Recipient shall cause the Project to be carried out by the Project 
Implementing Entity, in accordance with the provisions of Article IV of the 
General Conditions. 
3.02. 
Without limitation upon the provisions of Section 3.01 of this Agreement, and 
except as the Recipient and the Association shall otherwise agree, the Recipient 
shall ensure that the Project is carried out in accordance with the provisions of 
Schedule 2 to this Agreement. 
ARTICLE IV — REMEDIES OF THE ASSOCIATION
 
4.01. 
The Additional Events of Suspension consist of the following: 
(a) 
The Project Implementing Entity’s Legislation has been amended, 
suspended, abrogated, repealed or waived so as to affect materially and 
adversely the ability of the Project Implementing Entity to perform any 
of its obligations under the Project Agreement. 
(b) 
The amendment, dissolution or disestablishment of the TMRC charter 
without the prior written approval of the Association. 
(c) 
The assignment, amendment, abrogation or waiver of any provision of a 
signed Participation Agreement, without the prior written approval of the 
TMRC, the Project Implementing Entity, and the Association. 
4.02. 
The Additional Event of Acceleration is that the event specified in Section 4.01
 
of this Agreement occurs and is continuing for a period of 60
 
days after notice of 
the event has been given by the Association to the Recipient. 
ARTICLE V 
–
EFFECTIVENESS; TERMINATION 
5.01. 
The Additional Conditions of Effectiveness consist of the following: 
(a) 
the Subsidiary Agreement has been executed between the Recipient and 
the Project Implementing Entity; 
(b) 
the Project Implementing Entity has adopted the  Operations Manual, in a 
form and substance satisfactory to the Association;  
(c) 
a Sub-financing Agreement between the Project Implementing Entity and 
the TMRC has been legally concluded and is acceptable to the 
Association; 
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(d) 
the business plan for the TMRC has been adopted with composition, 
mandate and resources acceptable to the Association;  
(e) 
the constitution of the board of directors and the recruitment of senior 
officers (CEO, CFO and COO) for the TMRC has been finalized, with 
composition, mandate and resources acceptable to the Association; and 
(f) 
a model framework Participation Agreement between TMRC and 
potential PMLs has been adopted and is acceptable to the Association. 
5.02. 
The Additional Legal Matters consist of the following: 
The Subsidiary Agreement has been duly authorized or ratified by the Recipient 
and the Project Implementing Entity and is legally binding upon the Recipient 
and the Project Implementing Entity in accordance with its terms. 
 
5.03. 
The Effectiveness Deadline is the date ninety (90) days after the date of this 
Agreement. 
ARTICLE VI
—REPRESENTATIVE; ADDRESSES
 
6.01. 
The Recipient’s Representative is its Minister responsible for finance. 
6.02. 
The Recipient’s Address is: 
Ministry of Finance and Economic Affairs 
P. O. Box 9111 
Dar es Salaam 
 
Tanzania 
 
Cable address:   
 
Facsimile: 
 
TREASURY 
 
 
(255) 222 11 77 90 
 
Dar es Salaam 
6.03. 
The Association’s Address is: 
 
International Development Association 
 
1818
H
Street, N.W. 
Washington, D.C. 20433 
 
United States of America 
 
Cable: 
  Telex: 
  Facsimile: 
 
INDEVAS  
248423 
(MCI) 
or 
1-202-477-6391 
 
Washington, D.C. 
64145 (MCI) 
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AGREED at Dar es Salaam, United Republic of Tanzania, as of the day, month 
and year first above written. 
 
UNITED REPUBLIC OF TANZANIA 
 
By  
 
/s/ Ramadhani Khijjah 
Authorized Representative 
 
INTERNATIONAL DEVELOPMENT ASSOCIATION 
 
By  
 
/s/ John McIntire 
Authorized Representative 
 
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SCHEDULE 1 
Project Description
 
The objective of the Project is to support the Recipient’s effort to develop the 
housing mortgage finance market through the provision of medium and long-term 
liquidity to mortgage lenders. 
The Project consists of the following parts: 
Part 1
:
Developing the Mortgage Market
Provision of: (a) support in the form of loan funds to the TMRC to provide Mortgage 
Refinancing to PMLs; (b) technical advisory support for a TMRC bond issue; and  
(c) various forms of capacity building support, including mortgage regulatory review, a 
mortgage toolkit to provide potential lenders with standardized sets of documentation, 
manuals and processes for developing a mortgage product line.
 
Part 2
:
Development of Housing Microfinance
Provision of technical advisory assistance to:  (a) carry out an initial study of the housing 
microfinance market study; (b) provide capacity building support to develop housing 
microfinance industry; (c) undertake a feasibility study assessing the options for the 
design, creation and management of a Housing Microfinance Fund (HMFF) to provide 
longer term funds; and (d) provide capacity building support for the benefit of MFIs 
entering into the housing microfinance market.   
Part 3
:
Expansion of Affordable Housing Supply
Provision of technical advisory assistance to carry out a baseline housing market study 
designed to:  (a) identify gaps and constraints facing the housing market; (b) provide real 
estate development training to banks and financial institutions; (c) improve the capacity 
of NHC to deliver serviced land for residential development; (d) improve the capacity of 
banks and financial institutions to provide construction finance for developers to 
undertake residential development; and (e) promote lower cost building materials and 
construction technologies to make housing more affordable. 
 
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SCHEDULE 2 
Project Execution 
Section I. 
Subsidiary Financing, Institutional and Other Arrangements
A. Subsidiary 
Agreement
 
1.
 
To facilitate the carrying out of the Project by the Project Implementing Entity, 
the
 
Recipient shall on-lend the proceeds of the Financing available to the Project 
Implementing Entity under a subsidiary agreement between the Recipient and the 
Project Implementing Entity, under terms and conditions approved by the 
Association, which shall include the following:  
(a) 
on-lending terms which shall be the same as those which apply to the 
Financing, and on a back-to-back basis;  
(b) 
the obligation of the Project Implementing Entity to carry out the Project 
with due diligence and efficiency, in conformity with appropriate 
administrative, financial and technical practices and in accordance with 
the Operations Manual, and provide, or cause to be provided, promptly 
as needed, the facilities, services and other resources required for the 
Project; 
(c) 
the obligation of the Project Implementing Entity to comply with record 
keeping, auditing and reporting requirements set forth in Section II.B(3) 
of this Schedule with respect to the Project, including the annual auditing 
of its records and accounts (operations, resources and expenditure) in 
respect of the Project; 
(d) 
the obligation of the Project Implementing Entity to comply with the 
procedures for procurement of goods, and consultant services set forth in 
the Procurement Plan; and in accordance with Section III of this 
Schedule with respect to the Project; 
(e) 
the obligation of the Project Implementing Entity, at the request of the 
Recipient or the Association, to exchange views with the Recipient and 
the Association with regard to the progress of the Project and the 
performance of its obligations under the Subsidiary Agreement; and 
(f) 
the obligation of the Project Implementing Entity to promptly inform the 
Recipient and the Association of any condition which interferes or 
threatens to interfere with the progress of the Project, or the performance 
of its obligations under the Subsidiary Agreement. 
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2. 
The Recipient shall exercise its rights under the Subsidiary Agreement in such 
manner as to protect the interests of the Recipient and the Association and to 
accomplish the purposes of the Financing.  Except as the Association shall 
otherwise agree, the Recipient shall not assign, amend, abrogate
 
or waive the 
Subsidiary Agreement or any of its provisions. 
B. Institutional 
Arrangements 
Steering Committee and Project Coordination Committee 
(a) 
The Recipient shall, by not later than February 15, 2010, establish and 
thereafter maintain, at all times until the completion of the Project, a 
Steering Committee and a Project Coordination Committee with 
composition, mandate and resources acceptable to the Association. 
(b) 
The Steering Committee shall review overall project policies and results, 
and shall be chaired by MOFEA, and comprise of representatives from 
the BOT, MOFEA, MLHHSD and PMO-RALG.  
(c) 
The Project Coordination Committee shall have responsibility for, 
inter 
alia
:
(i) overall strategic direction and oversight of the Project; and  
(ii) monitoring and evaluation of the Project, and shall be chaired by a 
representative of the Project Implementing Entity and shall comprise of 
representatives from the BOT, MOFEA, MLHHSD, PMO-RALG and 
bankers. 
C. Anti-Corruption 
 
The Recipient shall ensure that the Project is carried out in accordance with the 
provisions of the Anti-Corruption Guidelines. 
Section II. 
Project Monitoring, Reporting and Evaluation 
A. Project 
Reports 
1. 
The Recipient shall ensure the monitoring and evaluation of the progress of the 
Project and prepare Project Reports, all in accordance with the provisions of 
Section 4.08 of the General Conditions and on the basis of the indicators set forth 
below in paragraph 2.  Each Project Report shall cover the period of six months, 
and shall be furnished to the Association not later than forty-five (45) days after 
the end of the period covered by such report.  
 
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2. 
The performance indicators referred to above in paragraph 1 consist of the 
following:  
(a) 
total number of housing finance loans (refinanced housing 
mortgage loans and housing microfinance loans) provided;  
(b) 
ratio of mortgages debt outstanding to gross domestic product 
(GDP); and  
(c) 
mortgage interest rates.  
3. 
Progress on these indicators shall be evaluated as follows: 
(a) 
total number of housing finance loans (refinanced housing 
mortgage loans and housing microfinance loans) provided 
increases;  
(b) 
ratio of mortgage debt outstanding to gross domestic product 
(GDP) increases; and  
(c) 
mortgage interest rates stabilize or decrease.  
B. 
Financial Management, Financial Reports and Audits 
1. 
The Recipient shall maintain a financial management system in accordance with 
the provisions of Section 4.09 of the General Conditions. 
2. 
Without limitation on the provisions of Part A.1 of this Section, the Recipient 
shall prepare and furnish to the Association, not later than 45 days after the end 
of every six months, interim un-audited financial reports for the Project covering 
the six months, in form and substance satisfactory to the Association. 
3. 
The Recipient shall have its Financial Statements for the Project audited in 
accordance with the provisions of Section 4.09(b) of the General Conditions. 
Each audit of such Financial Statements shall cover the period of one fiscal year 
of the Recipient.  The audited Project Financial Statements for each such period 
shall be furnished to the Association not later than six months after the end of 
such period. 
Section III. 
Procurement
A. General
 
1.
 Goods
.
All goods required for the Project and to be financed out of the proceeds 
of the Financing shall be procured in accordance with the requirements set forth 
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or referred to in Section I of the Procurement Guidelines, and with the provisions 
of this Schedule. 
2.
 
Consultants’ Services
.
All consultants’ services required for the Project and to 
be financed out of the proceeds of the Financing shall be procured in accordance 
with the requirements set forth or referred to in Sections I and IV of the 
Consultant Guidelines, and with the provisions of this Schedule. 
3.
 Definitions
.
The capitalized terms used below in this Section to describe 
particular procurement methods or methods of review by the Association of 
particular contracts, refer to the corresponding method described in the 
Procurement Guidelines, or Consultant Guidelines, as the case may be. 
B. 
Particular Methods of Procurement of Goods
 
1.
 
International Competitive Bidding. 
Except as otherwise provided in 
 
paragraph 2 below, goods shall be procured under contracts awarded on the basis 
of International Competitive Bidding. 
2.
 
Other Methods of Procurement of Goods and Non-Consulting Services.  
The 
following table specifies the methods of procurement, other than International 
Competitive Bidding, which may be used for goods and non-consulting services.  
The Procurement Plan shall specify the circumstances under which such methods 
may be used: 
Procurement Method
 
(a)   
National Competitive Bidding 
(b)   
Direct Contracting 
(c)   
Shopping 
3.
 
Additional Provisions Governing National Competitive Bidding referred to 
in paragraph B.2(a) of this Section. 
National Competitive Bidding for goods and works shall be subject to the 
following: 
(a) 
In accordance with paragraph 1.14(e) of the Procurement Guidelines, 
each bidding document and contract financed out of the proceeds of the 
Financing shall provide that:
 
(i) the bidders, suppliers, contractors and 
subcontractors shall permit the Association, at its request, to inspect their 
accounts and records relating to the bid submission and performance of 
the contract, and to have said accounts and records audited by auditors 
appointed by the Association; and (ii) the deliberate and material 
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violation by the bidder, supplier, contractor or subcontractor of such 
provision may amount to an obstructive practice as defined in 
 
paragraph 1.14(a)(v) of the Procurement Guidelines. 
(b) 
There shall be no preference accorded to domestic suppliers and 
contractors. 
C. 
Particular Methods of Procurement of Consultants’ Services 
1.
 
Quality- and Cost-based Selection
.
Except as otherwise provided in 
 
paragraph 2 below, consultants’ services shall be procured under contracts 
awarded on the basis of Quality- and Cost-based Selection.
 
2.
 
Other Methods of Procurement of Consultants’ Services
.
The following 
methods of procurement, other than Quality- and Cost-based Selection, may be 
used for consultants’ services under the circumstances specified in the 
Procurement Plan for each such method: (a) Quality Based Selection; 
 
(b) Selection under a Fixed Budget; (c) Least Cost Selection; (d) Selection Based 
on Consultants’ Qualifications; (e) Single-source Selection; (f) Procedures set 
forth in paragraphs 5.2 and 5.3 of the Consultant Guidelines for the Selection of 
Individual Consultants; and (g) Sole Source Procedures for the Selection of 
Individual Consultants. 
D. 
Review by the Association of Procurement Decisions 
The Procurement Plan shall set forth those contracts which shall be subject to the 
World Bank Prior Review. All other contracts shall be subject to Post Review by 
the Association. 
Section IV. 
Withdrawal of the Proceeds of the Financing
A. General 
1. 
The Recipient may withdraw the proceeds of the Financing in accordance with 
the provisions of this Section and such additional instructions as the Association 
may specify by notice to the Recipient, to finance Eligible Expenditures as set 
forth in the table in paragraph 2 below. 
2. 
The following table specifies the category of Eligible Expenditures that may be 
financed out of the proceeds of the Financing (“Category”), the allocations of the 
amounts of the Financing to the Category, and the percentage of expenditures to 
be financed for Eligible Expenditures in said Category: 
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Category 
Amount of the 
Financing Allocated 
(expressed in SDR) 
Percentage of 
Expenditures to be 
Financed 
 
1) Mortgage 
Refinancing, 
Goods, Consultants, 
Training and Workshops 
for Part 1 
20,800,000 100% 
2) Creation 
of 
HMFF, 
Goods, Consultants, 
Training and Workshops 
for Part 2 
3,200,000 100% 
3) Goods, 
Consultants, 
Training and Workshops 
for Part 3 
1,170,000 100% 
4) Project 
Preparation 
430,000 
Amount payable pursuant 
to Section 2.07 of the 
General Conditions 
TOTAL AMOUNT 
25,600,000 
 
B. 
Withdrawal Conditions; Withdrawal Period.   
1.
 
Notwithstanding the provisions of Part A.1 of this Section no withdrawal shall be 
made in respect of: 
(a) 
payments made prior to the date of this Agreement; 
(b) 
Mortgage Refinancing under Category 1) unless: (i) the Project 
Implementing Entity has adopted a regulatory framework for housing 
mortgage finance that is acceptable to the Association; (ii) the TMRC 
has been certified OP 8.30 compliant by the Association and has adopted 
governance principles and processes acceptable to the Association; (iii) 
the TMRC has defined its financial strategy and financial products that 
are acceptable to the Association; (iv) the TMRC has adopted a risk 
management strategy acceptable to the Association; (v) the Project 
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Implementing Entity has duly authorized and licensed the TMRC as a 
financial institution; and (vi) full capitalization of the TMRC by PML 
shareholders; 
(c) 
HMFF funding under Category 2) unless: (i) the HMFF has been legally 
established in a manner satisfactory to the Association; (ii) there has 
been an appraisal of the fiduciary arrangements for the administration of 
the HMFF that is acceptable to the Association; (iii) certification by the 
Association that HMFF has become OP 8.30 compliant and (iv) there has 
been an assessment whether the financial intermediary loan (FIL) 
requirements of OP 4.01 should apply to the HMFF; and  
(d) 
Category 3) unless MLHHSD has adopted a new business plan for NHC 
that is acceptable to the Association. 
2.
 
The Closing Date is March 31, 2015. 
 
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SCHEDULE 3
 
Repayment Schedule 
 
Date Payment Due 
Principal Amount of the Credit 
repayable 
(expressed as a percentage)* 
 
On each May 15 and November 15: 
 
commencing May 15, 2020, to and including 
November 15, 2029 
1% 
commencing May 15, 2030, to and including 
November 15, 2049 
2% 
*
The percentages represent the percentage of the principal amount of the Credit to be 
repaid, except as the Association may otherwise specify pursuant to Section 3.03(b) of 
the General Conditions. 
 
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APPENDIX 
Definitions 
1. 
“Annual Work Plan” means each annual work plan, together with the related 
budget, for the Project approved by the Association pursuant to the provisions of 
Section I.E (b) of the Schedule to the Project Agreement. 
2. 
“Anti-Corruption Guidelines” means the “Guidelines on Preventing and 
Combating Fraud and Corruption in Projects Financed by IBRD Loans and IDA 
Credits and Grants”, dated October 15, 2006. 
3. 
“BOT” means Bank of Tanzania, the Recipient’s central bank established and 
operating pursuant to the Bank of Tanzania Act No. 4 of 2006 of the laws of the 
Recipient. 
4. 
“Category” means a category set forth in the table in Section IV of Schedule 2 to 
this Agreement. 
5. 
“CEO” means Chief Executive Officer. 
6. 
“CFO” means Chief Financial Officer. 
7. 
“COO” means Chief Operations Officer. 
8. 
“Consultant Guidelines” means the “Guidelines: Selection and Employment of 
Consultants by World Bank Borrowers” published by the Bank in May 2004 and 
revised in October 2006. 
9. 
“Displaced Person” means a person who, on account of the execution of the 
Project, has experienced or would experience direct economic and social impacts 
caused by: (i) the involuntary taking of land, resulting in: (A) relocation or loss 
of shelter; (B) loss of assets or access to assets; or (C) loss of income sources or 
means of livelihood, whether or not such person must move to another location; 
or (ii) the involuntary restriction to access to legally designated parks and 
protected areas, resulting in adverse impacts on the livelihood of such persons; 
and “Displaced Persons” means more than one Displaced Person.  
10. 
“ESMF” means the Environmental and Social Management Framework prepared 
and adopted by the Recipient, dated October 2009, defining the set of mitigation, 
enhancement, monitoring, and institutional measures to be taken during 
implementation of the Project to eliminate any adverse environmental and social 
impacts, offset them, reduce them to acceptable levels, or to enhance positive 
impacts of the Project activities, as such framework  may be amended by the 
Recipient from time to time, with the prior written agreement of the Association. 
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11. 
“Environmental Management Plan” or “EMP” means an environmental 
management plan, in form and substance satisfactory to the Association, to be 
prepared by the Recipient on the basis of the ESMF, and giving details of 
measures to manage potential environmental risks and mitigate, reduce and/or 
offset adverse environmental impacts associated with the implementation of 
Project activities, together with adequate institutional, monitoring and reporting 
arrangements capable of ensuring proper implementation of, and regular 
feedback on compliance with, its terms, as any such plan may be amended and/or 
supplemented from time to time with prior written approval of the Association; 
and “EMPs” means, collectively, all or several such plans. 
12. 
“Fiscal Year” means the Recipient’s fiscal year commencing July 1 and ending 
June 30 of each year. 
13. 
“General Conditions” means the “International Development Association 
General Conditions for Credits and Grants”, dated July 1, 2005, (amended 
through October 15, 2006). 
14. 
“IUs” means the Project Implementation Units referred to in Section I.A(3.) of 
the Schedule to the Project Agreement and which are headed by BOT’s banking 
supervision department, BOT’s microfinance department; and MLHHSD’s 
Director of Housing, and any successors thereto. 
15. 
“MFI” means Micro Finance Institution. 
16. 
“MLHHSD” means the Recipient’s Ministry of Lands, Housing, and Human 
Settlements Development. 
17. 
“MOFEA” means the Recipient’s Ministry of Finance and Economic Affairs. 
18. 
“Mortgage Loan” means a mortgage loan secured by a lien and made or proposed 
to be made by a PML (as such term is hereinafter defined) for the purpose of 
providing financing for the purchase, refinance, construction or renovation of a 
residential housing unit. 
19. 
“Mortgage Refinancing” means refinancing made or proposed to be made out of 
the proceeds of the Credit, by the TMRC to a PML (as such term is hereinafter 
defined) which meets the eligibility criteria set forth in the Schedule to the 
Project Agreement. 
20. 
“NHC” means the Recipient’s National Housing Corporation created under 
Tanzania’s National Housing Corporation Act CAP 295 RE 2002. 
21. 
“OP 4.01” means the Operational Policy 4.01 of the Association regarding 
Environmental Assessment. 
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22. 
“OP 8.30” means the Operational Policy 8.30 of the Association regarding 
Financial Intermediary Lending. 
23. 
“Operations Manual” means the manual referred to Section I.A.1 of the Schedule 
to the Project Agreement, as the same may be amended from time to time. 
24. 
“PAT” means the BOT’s existing Project Administration Team from the 
Financial Sector Support Project, Credit No. 4191-TA, which also will be 
responsible for the day to day running of this Project, processing procurement 
arrangements and payments on behalf of the PIUs and serving as the main point 
of contact between the Association and the BOT. 
25. 
“Participation Agreement” means an agreement entered into, or to be entered into 
between the TMRC and each eligible PML (as such term is hereinafter defined) 
in accordance with Section I.C of the Schedule to the Project Agreement. 
26. 
“PML” means any eligible participating mortgage lender which is a shareholder 
of the TMRC and to which Mortgage Refinancing is provided by the TMRC as 
set forth in the Schedule to the Project Agreement and as designated by the 
TMRC as a mortgage originating and servicing institution, and the term “PMLs” 
means collectively all such participating mortgage lenders which qualify as a 
PML. 
27. 
“PMO-RALG” means the Recipient’s Prime Minister’s Office on Regional 
Administration and Local Government.  
28. 
 “Procurement Guidelines” means the “Guidelines: Procurement under IBRD 
Loans and IDA Credit” published by the Bank in May 2004 and revised in 
October, 2006. 
29. 
“Procurement Plan” means the Recipient’s procurement plan for the Project, 
dated January 13, 2010, and referred to in paragraph 1.16 of the Procurement 
Guidelines and paragraph 1.24 of the Consultant Guidelines, as the same shall be 
updated from time to time in accordance with the provisions of said paragraphs. 
30. 
“Project Coordination Committee” means the committee referred to in 
 
Section I.B (a) and (c) of Schedule 2 to this Agreement. 
31. 
“Project Implementing Entity” means the BOT. 
32. 
“Project Implementing Entity’s Legislation” means Bank of Tanzania Act No. 4 
of 2006 of the laws of the Recipient. 
33. 
"Resettlement Action Plan” or “RAP” means a Resettlement Action Plan 
acceptable to the Association and consistent with the RPF, to be adopted by the 
Recipient, and giving details of the specific actions, measures and policies 
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designed to facilitate the achievement of the objectives of the RPF, along with 
the procedural and institutional measures needed to implement such actions, 
measures and policies, as such RAP may be amended from time to time with the 
prior written agreement of the Association. 
34. 
“Resettlement Policy Framework” or “RPF” means the Resettlement Policy 
Framework acceptable to the Association, dated October 2009, adopted by the 
Recipient, and giving details of provisions for compensation, rehabilitation and 
resettlement assistance to Displaced Persons, as such RPF may be amended from 
time to time with the prior written agreement of the Association. 
35. 
“Steering Committee” means the committee referred to in Section I.B(a) and (b) 
of Schedule 2 to this Agreement. 
36. 
“Sub-financing” means a loan made by the Project Implementing Entity to 
TMRC pursuant to the Sub-financing Agreement.  
37. 
“Sub-financing Agreement” means an agreement between the Project 
Implementing Entity and TMRC providing for Sub-financing. 
38. 
“Subprogram” means a program of activities under the Project and included in 
the Annual Work Program and Budget. 
39. 
“Subsidiary Agreement” means the agreement referred to in Part A.1 of Section 1 
of Schedule 2 to this Agreement pursuant to which the Recipient shall make 
proceeds of the Financing available to BOT. 
40. 
“TMRC” means the Tanzania Mortgage Refinance Company to be created under 
The Companies Act CAP 212 RE 2002 for the purpose of providing short and 
long term funds to PMLs necessary for refinancing Mortgage Loans.