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 IV. Disbursements from Fund
Section 4.01. Amounts in the Fund shall be used or disbursed by the Administrator exclusively to finance the cost of the goods. The specific items to be financed from the Fund and the methods to be used in procuring and financing them shall be determined from time to time by the Administrator, after consultation with Laos or, in respect of goods for Part B of the Project, with Thailand.
Section 4.02. Except as shall be otherwise determined by the Administrator, no disbursements shall be made on account of (i) expenditures prior to March 11, 1966, or (ii) expenditures in the territories of any country which is not a Party to this Agreement, or for goods produced in, or services supplied from, such territories.
Section 4.03. Disbursements from the Fund shall be in such currencies as the Administrator shall elect.
Section 4.04. Laos shall make and maintain arrangements for the sale of kip required for the carrying out of the Project at the most advantageous legal rate.
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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