On the signing of a Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank regarding amendments to Loan Agreement No. 2967-KAZ (Ordinary Operations) (CAREC Investment Program Corridor 2 [Sites in Mangystau Region] - Project 2) between the Republic of Kazakhstan and the Asian Development Bank

Home / Decree / On the signing of a Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank regarding amendments to Loan Agreement No. 2967-KAZ (Ordinary Operations) (CAREC Investment Program Corridor 2 [Sites in Mangystau Region] - Project 2) between the Republic of Kazakhstan and the Asian Development Bank

On the signing of a Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank regarding amendments to Loan Agreement No. 2967-KAZ (Ordinary Operations) (CAREC Investment Program Corridor 2 [Sites in Mangystau Region] - Project 2) between the Republic of Kazakhstan and the Asian Development Bank

Decree of the President of the Republic of Kazakhstan dated June 5, 2017 No. 491

In accordance with Article 8 of the Law of the Republic of Kazakhstan dated May 30, 2005 "On International Treaties of the Republic of Kazakhstan", I HEREBY DECREE:

1. To approve the attached draft Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank regarding amendments to Loan Agreement No. 2967-KAZ (Ordinary Operations) (CAREC Investment Program Corridor 2 [Sites in Mangystau Region] - Project 2) between the Republic of Kazakhstan and the Asian Development Bank.

2. To authorize the Minister of Finance of the Republic of Kazakhstan Sultanov Bakhyt Turlykhanovich to sign on behalf of the Republic of Kazakhstan a Letter of Agreement between the Republic of Kazakhstan and the Asian Development Bank regarding amendments to Loan Agreement No. 2967-KAZ (Ordinary Operations) (CAREC Investment Program Corridor 2 [Sites in Mangystau region] - Project 2) between the Republic of Kazakhstan and the Asian Development Bank by allowing changes and additions to be made that are not of a fundamental nature.

3. This Decree comes into effect from the date of signing.

President

Republic of Kazakhstan

N.Nazarbayev

Approved by Decree of the President of the Republic of Kazakhstan on June 5, 2017 No. 491

Project

February 9th, 2017

To Mr. Bakhyt Sultanov, Minister of Finance, Ministry of Finance, Pobedy Avenue, 11, Astana, 010000 Republic of Kazakhstan

Dear Mr. Sultanov,

Subject: Loan No. 2967-KAZ: CAREC Investment Program Corridor 2 [Sites in Mangystau Region] - Draft 2 - Amendments to the Loan Agreement

1. This letter is being sent regarding the Loan Agreement (Ordinary Transactions) dated June 18, 2013 between the Republic of Kazakhstan (the "Borrower") and the Asian Development Bank ("ADB") (the "Loan Agreement") for the above project. All prescribed designations used but not defined in this document will have the meaning defined in the Loan Agreement, unless the content requires a different meaning.

2. On July 10, 2015, January 18, 2016, and February 9, 2017, ADB approved changes to the project to include (i) reconstruction of the Zhetybai—Zhanaozen highway section (km 0-73); (ii) financing of project management consultant services to assist in project supervision and monitoring; and (iii) reallocation of loan funds to finance these changes. To put these changes into effect, the ADB proposes to amend the Loan Agreement as follows::

(i) Sub-paragraphs (a) and (b) of paragraph 3 of annex 1 (Description of the draft) of the Loan Agreement should be finalized as follows:

"(a) reconstruction of (i) about 170 km of the road section (from km 632.3 to km 802 between the settlement of Shetpe and the city of Aktau; and (ii) about 73 km of the road section (km 0-73) between Zhetybai and Zhanaozen of the Zhetybai-Zhanaozen-Fetisovo-gr highway. Of the Republic of Turkmenistan (on Turkmenbashi)"; and

(b) Construction supervision and project management;";

(ii) finalize the table indicated in the addendum to annex 3 of the Loan Agreement and replace it with the attached annex to this letter of amendments to the Loan Agreement.

3. With the exception of the provisions specified in this Letter of Agreement, the Loan Agreement itself does not change.

4. Please indicate the Borrower's consent to make the amendments specified in this Letter of Agreement and to the terms of this Letter of Agreement by signing both originals of the Letter of Agreement in the place indicated below. Please leave one copy of the signed Letter of Agreement for your use and return the other to ADB. The amendments specified in this Letter of Agreement will enter into force on the date of receipt by ADB of the signed original Letter of Agreement.

With respect,

_________________________________________

Sean O'Sullivan

general manager

Department of Central and Western Asia

I accept and approve.

For and on behalf of the Republic of Kazakhstan

Name: _____________________

Post: _______________

Date: ____________________

Copy: J.Kasymbek, Minister of Investment and Development of the Republic of Kazakhstan;

R.Sklar, Vice Minister for Investment and Development of the Republic of Kazakhstan;

R.Beketaev, Vice Minister of Finance of the Republic of Kazakhstan;

M.To Pshembayev, Chairman of the Committee of Highways of the Ministry of Investment and Development of the Republic of Kazakhstan.

Attachment to the Letter of Agreement

LOAN ALLOCATION AND WITHDRAWAL (CAREC Corridor 2 Investment Program [Sites in Mangystau Region] - Project 2)

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