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 VIII. The Administrator
Section 8.01. The Administrator shall, within 30 days after December 31, 1966 and after each 30th June and 31st December thereafter, send to each Party a report containing appropriate information with respect to the receipts and disbursements of, and balances in, the Fund, the progress of the Project, and other matters relating to the Fund, the Project and this Agreement. The Administrator will consult with the respective Parties from time to time concerning the form and substance of such reports.
Section 8.02. The Administrator may, but shall not be required to, deposit and invest monies held by the Fund pending disbursement in such manner as it shall deem appropriate. The income from such deposits and investments, net of related expenses and charges, shall become part of the assets of the Fund.
Section 8.03. Whenever it shall be necessary for the purposes of this Agreement to value one currency in terms of another currency, such value shall be as reasonably determined by the Administrator in accordance with the Bank's usual procedures.
Section 8.04. The Administrator shall receive no compensation other than for expenses incurred solely because of services rendered under this Agreement, for which it shall be entitled to reimburse itself out of the Fund.
Section 8.05. Whenever the Administrator determines that special circumstances so require, it may make, or require or approve the making of, such agreement or arrangements with engineering and other consultants, contracting firms and other enterprises or entities as it shall deem necessary or desirable for carrying out the Project in the most efficient, expeditious and economical manner.
Section 8.06. The Bank, in acting as Administrator, shall exercise the same care in the administration and management of the Fund, and in the discharge of its other functions under this Agreement, as it exercises in respect of the administration and management of its own affairs.
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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