Republic of Congo. Advance Agreement for Preparation of Proposed Strengthening Electricity Services Project Project Preparation Advance No. V509-CG Excellency: Public Disclosure Authorized I refer to the Advance Agreement (“Agreement”) between the Republic of Congo (“Recipient”) and the International Bank for Reconstruction and Development (“World Bank”) for the preparation of the above- referenced Project. The Agreement provides that the World Bank may issue additional instructions regarding the withdrawal of the proceeds of Project Preparation Advance No. V509-CG. This letter (“Disbursement Letter”), as revised from time to time, constitutes the additional instructions. The attached World Bank Disbursement Guidelines for Investment Project Financing, dated February 2017, (“Disbursement Guidelines”) (Attachment 1), are an integral part of the Disbursement Letter. The manner in which the provisions in the Disbursement Guidelines apply to the PPA is specified below. Sections and subsections in parentheses below refer to the relevant sections and subsections in the Disbursement Guidelines and, unless otherwise defined in this letter, the capitalized terms used have the meanings ascribed to them in the Disbursement Guidelines. I. Disbursement Arrangements
Republic of Congo. All timber sources (all permit types, imports) • 14 product groups • All markets
Republic of Congo. Re: Republic of Congo: Advance Agreement for Preparation of Proposed Forestry and Economic Diversification Project Project Preparation Advance No. Q791 Excellency: In response to the request for financial assistance made on behalf of the Republic of Congo (“Recipient”), I am pleased to inform you that the International Development Association (variously, “XXX” or “World Bank”) proposes to extend to the Recipient an advance out of the World Bank’s Project Preparation Facility in an amount not to exceed nine hundred thirty-nine thousand five hundred Dollars ($939,500) (“Advance”) on the terms and conditions set forth or referred to in this letter agreement, which includes the attached Annex (“Agreement”), to assist in financing the activities described in the Annex (“Activities”). The objective of the Activities is to facilitate the preparation of a proposed project whose objective is to increase the capacity of the Recipient to fulfill its statutory functions in the forestry sector and to reduce barriers to investment in selected sub-sectors of the forestry sector (“Project”), for the carrying out of which the Recipient has requested the World Bank’s financial assistance. The Recipient represents, by confirming its agreement below, that: (a) it understands that the provision of the Advance does not constitute or imply any commitment on the part of IBRD or XXX to assist in financing the Project; and (b) it is authorized to enter into this Agreement and to carry out the Activities, repay the Advance and perform its other obligations under this Agreement, all in accordance with the provisions of this Agreement. Please confirm the Recipient’s agreement to the foregoing by having an authorized official of the Recipient sign and date the enclosed copy of this Agreement, and returning it to the World Bank. Upon receipt by the World Bank of this countersigned copy, this Agreement shall become effective as of the date of the countersignature; provided, however, that the offer of this Agreement shall be deemed withdrawn if the World Bank has not received this countersigned copy within ninety (90) days after the date of signature of this Agreement by the World Bank, unless the World Bank has established a later date for such purpose. Very truly yours, INTERNATIONAL DEVELOPMENT ASSOCIATION By /s/ Xxxxxxxx Xxxxxxx Country Director for the Republic of Congo Africa Region AGREED: REPUBLIC OF CONGO By /s/ Xxxxxxx Xxxxxxx Authorized Representative Name _____________________...
