Agreement, dated this 4th day of May, 1966 between the Governments of Australia, Canada, Denmark, Japan, Laos, the Netherlands, New Zealand, Thailand and the United States of America and the International Bank for Reconstruction and Development (the Bank).
Whereas the Committee for Coordination of Investigations of the Lower Mekong Basin (Cambodia, Laos, Thailand and the Republic of Vietnam) (hereinafter called the Mekong Committee) operating under the aegis of the United Nations Economic Commission for Asia and the Far East has been conducting a program of surveys of the Lower Mekong Basin in the riparian countries and in the course of such program it has been recognized that the Nam Ngum River in Laos, one of the tributaries of the Mekong, can be developed;
Whereas a feasibility study of the development of the Nam Ngum valley in Laos, including the construction of a multi-purpose dam, has been financed by the United Nations Special Fund and by the Government of Japan under its bilateral aid to Laos and has been carried out within the framework of investigations undertaken by the Mekong Committee;
Whereas the Mekong Committee has recommended the early construction of the Nam Ngum hydro-electric Project as an integral component of the comprehensive development of the Lower Mekong Basin;
Whereas Laos and Thailand have agreed to make arrangements for the inter-connection of the high tension electrical transmission networks of the two countries, initially by means of the construction and operation of a transmission line which would cross their common boundary on the Mekong River;
Whereas the United Nations and the Mekong Committee have sought contributions to the financing of the cost of the Nam Ngum hydroelectric Project;
Whereas the Government of Japan has agreed to finance the detailed design of the Project under its bilateral aid to Laos;
Whereas the Governments of Australia, Canada, Denmark, Japan, the Netherlands, New Zealand and the United States of America have agreed to provide funds, as a grant, for the Project up to twenty-two million eight hundred and fifteen thousand U.S. dollars equivalent and, together with the Governments of Laos and Thailand and the United Nations, have invited the Bank, and the Bank has agreed, to administer the funds so provided; and
Whereas Thailand has agreed to supply to Laos cement for the said project for a value equivalent to one million U.S. dollars in exchange for power from the Project;
Article IX. Consultation and Termination
Section 9.01. The following are hereby specified as Events for the purposes of Section 9.02 of this Agreement:
(a) a situation shall exist which shall make it improbable that the Project can be completed;
(b) the Administrator shall have determined that the resources of the Fund are insufficient to meet the estimated cost of the Project; or
(c) a default shall have occurred in the performance of any undertaking on the part of Laos under this Agreement.
Section 9.02.
(a) If any of the Events specified in Section 9.01 shall have happened and, in the judgment of the Administrator is likely to continue, the Administrator shall promptly notify the other Parties hereto and may by notice to said Parties suspend disbursements from the Fund in whole or in part.
(b) The Parties hereto shall forthwith consult with one another concerning the measures to be taken to correct the Event or Events. A majority of the contributing Parties, whose contributions also constitute more than half of the aggregate contributions to the Fund, shall have the power to decide that any suspension imposed by the Administrator pursuant to sub-section (a) of this Section 9.02 shall be removed. The Administrator shall act in accordance with such decision; pending such decision the suspension shall continue.
(c) If any such Event shall continue and a similar majority of the ontributing Parties shall decide that it is not likely to be corrected and that the purposes of this Agreement are not likely to be substantially fulfilled, the obligations of the Parties to make contributions to the Fund and the obligations of the Administrator under this Agreement shall cease and this Agreement shall terminate.
Section 9.03.
(a) If the Administrator shall have determined that circumstances have arisen which make it impossible, or impracticable, for it to carry on its duties hereunder in an efficient manner, the Administrator shall promptly notify the other Parties and may by notice to said Parties suspend disbursements from the Fund in whole or in part.
(b) The Parties hereto shall forthwith consult with one another concerning measures to be taken to correct the situation. A majority of the Contributing Parties, whose contributions also constitute more than half of the aggregate contributions to the Fund, shall have the power to decide that any suspension imposed by the Administrator pursuant to subsection (a) of this Section 9.03 shall be removed. The Administrator shall act in accordance with such decision; pending such decision the suspension shall continue.
(c) If the Administrator, after consultation with the other Parties, shall decide that the circumstances referred to in subsection (a) of this Section 9.03 are not likely to be corrected and shall so notify the other Parties, the obligations of the Administrator under this Agreement shall cease, subject to subsection (d) of this Section.
(d) The Administrator, promptly after termination of its obligations pursuant to subsection (c) of this Section, shall transfer all monies and other assets then remaining in the Fund to such person or entity as the other Parties shall designate to the Administrator for the purpose of this Section or, failing such designation within six months after the date of the Administrator's notice, to the contributing Parties in the manner prescribed in Section 9.05 of this Agreement.
Section 9.04. Subject to Section 9.05 hereof, this Agreement, unless sooner terminated pursuant to Section 9.02 (c) hereof, shall terminate upon completion of the Project or upon disbursement from the Fund of all amounts required to meet the cost of the goods, whichever is earlier.
Section 9.05. If at termination any amounts shall remain in the Fund not required to meet the cost of goods such amounts shall be paid to the contributing Parties in the proportion of their total respective contributions to the Fund. The Administrator shall, after consultation with the contributing Parties, determine the amounts, times, methods and currencies of payment.
Inhoudsopgave
Nam Ngum Development Fund Agreement, 1966
Article I. Definitions
Article II. Establishment of Nam Ngum Development Fund
Article III. Contributions to Fund
Article IV. Disbursements from Fund
Article V. Applications for Disbursement
Article VI. Undertakings of Laos
Article VII. Undertakings of Thailand
Article VIII. The Administrator
Article IX. Consultation and Termination
Article X. Settlement of Disputes
Article XI. Additional Parties and Contributions
Article XII. Notices and Requests
Article XIII. Signature and Entry into Force
Article XIV. Title
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