LOAN NUMBER 2817~INOLOAN AGREEMENT(

LOAN NUMBER 2817~INO
LOAN AGREEMENT
(Ordinary Operations)
(Regional Roads Development Project)
REPUBLIC OF INDONESIA
and
ASIAN DEVELOPMENT BANK
LOAN AGREEMENT
(Ordinary Operations)
LOAN AGREEMENT dated 12 may 2012 between 'the
REPUBLIC OF INDONESIA ("Borrower") and ASIAN DEVELOPMENT BANK ("ADB").
WHEREAS
(A) the Borrower has applied to ADS for a loan for the purposes of the Project described in Schedule 1 to this Loan Agreement (the "Project");
(B) the Borrower has also applied to the Islamic Development Bank ("IDB") for a loan for the purposes of funding part of Component 1 of the Project as described in Schedule 1 to this Loan Aqreernent, and lOB proposes to make a loan to the Borrower In an amount equivalent to sixty-five r.illllon Dollars ($65,000,000); and
(C) ADB has agreed to make a loan to the Borrower from ADB's otdinary capital resources upon the terms and conditions hereinafter set forth;
NOW THEREFORE the parties hereto agree as follows:
ARTICLE I
- -, Loan Regulations; Definitions
Section 1.01. All the provisions of the Ordinary Operations Loan Regulations Applicable to LlBOR-Based Loans Made from ADB's Ordinary Capital Resources, dated 1 July 2001 ("Loan Regulations"), are hereby made applicable to this Loan Agreement with the same force and effect as if they were fully set forth herein, subject, however, to the following modifications:
(a) Section 3.03 is deleted and the following is substituted therefor:
Commitment Charge; Credit. (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan
Agreement.
(b) ADB shall provide to the Borrower a credit at the rate specified in the Loan Agreement, which credit shall remain fixed for the term of the Loan. ADB shall apply the amount of the credit against the interest payable by the Borrower.
(b) Section 3.06 is deleted and the following is substituted therefor:
(a) Following any announcement by ADB that the Fixed Spread applicable to new Loans shall be reduced, ADB shall provide a Rebate to any Borrower with an outstanding Loan or. which a higher Fixed Spread is applicable. The amount cf the Rebate shall be determined by multiplying (i) the difference between the Fixed Spread applicable to the outstanding Loan and the Fixed Spread that will be' applied to new Loans (expressed as a percentage per annum), by (ii) the principal amount of the outstanding Loan on which the Borrower shall pay interest for all interest periods commencing on and after the effective date of the lower Fixed Spread that will be applied to new Loans.
(b) Following any announcement by ADB ,hat its Funding Cost Margin calculations with respect to any Loan Currency (or Approved Currency) in any Semester resulted in ADB achieving savings, ADB shall provide a Rebate to the Borrower. The amount of the Rebate shall be determined by multiplying (i) the Funding Cost Margin (expressed as a percentage per annum) by (ii) the principal amount of the Loan on which the Borrower shall pay interest for the Interest Period commencing immediately after the Semester for which the Funding Cost Margin was calculated. ADB shall apply the amount of the Rebate against the interest payable by the Borrower for the Interest Period commencing immediately after the Semester for which the Funding Cost Margin was calculated.
(c) Section 3.07 is deleted and the following is substituted therefor:
(a) Following any announcement by ADB that the Fixed Spread applicable to new Loans shall be increased, any Borrower with an outstanding Loan on which a lower Fixed
Spread is applicable shall pay ADB a Surcharge. The amount of the Surcharge shall be determined by multiplYing (i) the difference between the Fixed Spread that will be applied to new Loans and the Fixed Spread applicable to the outstanding Loan (expressed as a percentage per annum), by (ii) the principal amount of the outstanding Loan on which the Borrower shall pay interest for all interest periods commencing on and after the effective date of the higher Fixed Spread that will be applied to new Loans.
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(b) Following any announcement by ADB that its Funding Cost Margin calculations with respect to any Loan Currency (or Approved Currency) in any Semester resulted in ADB incurring additional costs, the Borrower shall pay ADB a Surcharge. The amount of the Surcharge shall be determined by multiplying (i) the Funding Cost Margin (expressed as a
percentage per annum) by (ii) the principal amount of the Loan I on which the Borrower shall pay interest for the Interest Period 3 commencing immediately after the Semester for which the Funding Cost Margin was calculated. ADB shall add the amount of the Surcharge to the interest payable iby the Borrower for the Interest Period commencing immediately after the Semester for which the Funding Cost Margfn was calculated. . .
'I
Section 1.02. Wherever used in this Loan Agreement, unless the
context otherwise requires, the several terms defined in the Loan Regulations have the
respective meanings therein set forth, and the following additional terms have the following .'
meanings:
(a) "ACAP" means anticorruption action plan prepared for the PrOjectand'
incorporated in the PAM;
(b) "Affected Persons" means any person whose living environment and/or
livelihood activities have been, or will be adversely impacted from Project activities;
(c) "BAPPENAS" means Badan Perencanaan Pembangunan Nasional or
National Planning Agency and any successor thereto;
(d) "Component" means a component of the Project as described in
Schedule 1 to this Loan Agreement;
(f) "Consulting Services" means the services to be financed out of the
proceeds of the Loan as referred to in paragraph 3 of Schedule 1 to this Loan Agreement;
(e) "Consulting Guidelines" means the Guidelines on the Use of
Consultants by Asian Development Bank and its Borrowers (2010, as amended from time to
time);
(g) "DGW means the Directorate General of Highways under the MPW
and any successor thereto;
(h) "EMP" means the environmental management plan prepared for the
Project detailing the mitigation measures and monitoring activities to avoid or mitigate
hegative environmental impacts arising from the Project;
(i) "Goods" means equipment and materials to be financed out of the
proceeds of the Loan, including related services such as transportation, insurance,
installation, commissioning, training, and initial maintenance, but excluding Consulting
Services;
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(j) "HIV/AIDS" means human immunodeficiency {virus/acquired
immunodeficiency syndrome;
(k) "lEE" means the initial environmental examination prepared for the
Project;
(I) "Implementing Agency(ies)" or "lAs" means the Borrower's (I)
Directorate General of Land Transportation, Ministry of Transportation and any successor
4
thereto; (ii) Traffic Police Corps, Indonesia National Police and any successor thereto• and
(iii) Directorate of Transportation, BAPPENAS and any successor thereto; ,
(rn) "LARAPs" means the land acquisition and resettlement action plans for
the Project and incorporated by reference in the PAM;
(n) "Loan Disbursement Handbook" means ADB's Loan Disbursement
Handbook (2007, as amended from time to time);
(0) "MPW" means the Borrower's Ministry of Public Works and any
successor thereto;
(w) "Rupiah" or "Rp" means the currency of the Borrower;
(p) "PAM" means the project administration manual for the Project dated
30 June 2011 and agreed between the Borrower and ADB, as updated from time to time in
accordance with the respective procedures of the Borrower and ADS;
(q) "PMU" means the project management unit established In the DGH for
the Project and further described in the PAM;
(r) "Procurement Guidelines" means ADB's Procurement Guidelines
(2010, as amended from time to time);
(s) "Procurement Plan" means the procurement plan for the Project dated
30 June 2011 and incorporated by reference in the PAM and agreed between the Borrower
and ADB, as updated from time to time in accordance with Procurement Guidelines,
Consulting Guidelines and other arrangements agreed with ADB;
(t) "Project Area" means the Borrower's provinces of East and West
Kalimantan and East and Central Java;
(u) "Project Executing Agency" or "EA" for the purposes, and within the
meaning, of the Loan Regulations means DGH, or any successor thereto acceptable to ADB,
which is responsible for the overall supervision and execution of the Project;
(v) "Project facilities" means the facilities constructed and equipment
provided under the Project;
(x) "SPS" means ADB's Safeguard Policy Statement dated 2009; and
(y) "Works" means construction or civil works to be financed out of the
proceeds of the Loan, including services such as drilling or mapping, and project related
services that are provided as pad of a single responsibility or turnkey contract, but excluding
Consulting Services.
5
ARTICLE II
The Loan
Section 2.01. (a) ADB agrees to lend to the Borrower from ADS's
ordinary capital resources an amount of one hundred eighty million Dollars ($180,OOO,OOO),
as such amount may be converted from time to time through a Currency Conversion In
accordance with the provisions of Section 2.06 of this Loan Agreement.
(b) The Loan has a principal repayment period of 20 years, and a grace
period as defined in paragraph (c) of this Section.
(c) The term "grace period" as used in paragraph (b) of this Section
means the period prior to the first Principal Payment Date in accordance with the
amortization schedule set forth in Schedule 2 to this Loan Agreement.
Section 2.02. The Borrower shall pay to ADB interest on the principal
amount of the Loan withdrawn and.outstanding from time to time at a rate fon:each Interest .:
Period equal to the sum of lIBOR and 0.60% as provided by Section 3.02 of the Loan
Regulations, less a credit of 0.30% as provided by Section 3.03 of the Loan ReQulations.
Section 2.03. The Borrower shall pay a commitment charge

Hasil (Bahasa Indonesia) 1:

JUMLAH PINJAMAN 2817 ~ INOPERJANJIAN KREDIT(Biasa operasi)(Proyek pembangunan jalan regional)REPUBLIK INDONESIAdanBANK PEMBANGUNAN ASIAPERJANJIAN KREDIT(Biasa operasi)Perjanjian kredit tanggal 12 Mei 2012 antara 'Republik INDONESIA ("peminjam") dan BANK Pembangunan Asia ("ADB").SEDANGKAN(A) peminjam telah diterapkan untuk iklan untuk pinjaman untuk keperluan proyek dijelaskan dalam jadwal 1 perjanjian pinjaman ini ("proyek");(B) peminjam juga diterapkan kepada Bank pembangunan Islam ("IDB") untuk pinjaman untuk keperluan pendanaan bagian dari komponen 1 proyek seperti yang dijelaskan dalam jadwal 1 untuk ini pinjaman Aqreernent, dan lOB mengusulkan untuk membuat pinjaman kepada peminjam dalam jumlah yang setara dengan enam puluh lima r.illllon dolar ($65,000,000); dan(C) ADB telah setuju untuk membuat pinjaman kepada peminjam dari ADB otdinary sumber daya modal berdasarkan syarat dan ketentuan yang selanjutnya ditetapkan;SEKARANG karena itu pihak siniUntuk menyetujui ketentuan sebagai berikut:PASAL I--, Pinjaman peraturan; Definisi1,01 bagian. Semua ketentuan-ketentuan yang biasa operasi pinjaman peraturan berlaku untuk pinjaman dibuat LlBOR-Based dari ADB biasa modal sumber daya, tanggal 1 Juli 2001 ("peraturan pinjaman"), dengan ini dibuat berlaku perjanjian pinjaman ini dengan kekuatan dan efek yang sama seolah-olah mereka telah sepenuhnya diatur dalam Perjanjian ini, subjek, namun, untuk modifikasi berikut:(a) bagian 3,03 dihapus dan diganti sebagai berikut adalah untuk itu:Komitmen biaya; Kredit. (peminjam) harus membayar biaya komitmen pada jumlah pinjaman pada tingkat yang unwithdrawn dan istilah yang ditentukan dalam pinjamanPerjanjian. (b) ADB harus menyediakan kepada peminjam kredit pada tingkat yang ditetapkan dalam perjanjian pinjaman, kredit yang tetap tetap selama jangka waktu pinjaman. ADB berlaku jumlah kredit terhadap bunga yang dibayarkan oleh peminjam.(b) bagian 3,06 dihapus dan diganti sebagai berikut adalah untuk itu:() setelah setiap pengumuman oleh ADB bahwa tetap menyebar berlaku untuk pinjaman baru akan berkurang, ADB akan memberikan Rebate untuk setiap peminjam dengan pinjaman luar biasa atau. yang lebih tinggi menyebar tetap berlaku. Cf jumlah Rebate ditetapkan dengan mengalikan (i) perbedaan antara Fixed menyebar berlaku untuk hutang dan Spread tetap yang akan ' diterapkan untuk pinjaman baru (dinyatakan sebagai persentase per tahun), oleh (ii) jumlah pokok hutang yang peminjam akan membayar bunga untuk semua menarik waktu bermula dan setelah tanggal efektif dari Spread tetap rendah yang akan diterapkan ke pinjaman baru.(b) setelah setiap pengumuman oleh ADB, topi Perhitungan Margin biaya pendanaan sehubungan dengan mata uang pinjaman (atau disetujui mata uang) dalam setiap Semester mengakibatkan ADB mencapai tabungan, ADB harus menyediakan Rebate kepada peminjam. Jumlah Rebate ditetapkan dengan mengalikan (i) pendanaan biaya Margin (dinyatakan sebagai persentase per tahun) oleh (ii) jumlah pokok pinjaman yang peminjam harus membayar bunga bunga periode bermula segera setelah Semester yang Margin biaya pendanaan dihitung. ADB berlaku jumlah Rebate terhadap bunga yang dibayarkan oleh peminjam untuk menarik masa bermula segera setelah Semester yang Margin biaya pendanaan dihitung.(c) bagian 3,07 dihapus dan diganti sebagai berikut adalah untuk itu:() setelah pengumuman oleh ADB yang tetap menyebar berlaku untuk pinjaman baru akan meningkat, setiap peminjam dengan pinjaman luar biasa yang lebih rendah tetapPenyebaran berlaku akan membayar ADB dengan biaya tambahan. Jumlah biaya tambahan harus ditentukan dengan mengalikan (i) perbedaan antara Spread tetap yang akan diterapkan ke pinjaman baru dan tetap menyebar berlaku untuk pinjaman luar biasa (dinyatakan sebagai persentase per tahun), oleh (ii) jumlah pokok hutang yang peminjam akan membayar bunga untuk semua menarik waktu bermula dan setelah tanggal efektif dari Spread tetap lebih tinggi yang akan diterapkan ke pinjaman baru.-;(b) setelah setiap pengumuman oleh ADB yang Perhitungan Margin biaya pendanaan sehubungan dengan mata uang pinjaman (atau disetujui mata uang) dalam setiap Semester mengakibatkan menimbulkan biaya tambahan ADB, peminjam harus membayar ADB dengan biaya tambahan. Jumlah biaya tambahan harus ditentukan dengan mengalikan (i) Margin biaya pendanaan (dinyatakan sebagaipersentase per tahun) oleh (ii) jumlah pokok pinjaman saya di mana peminjam harus membayar bunga bunga periode 3 bermula segera setelah Semester yang Margin biaya pendanaan dihitung. ADB akan menambah jumlah biaya tambahan untuk bunga yang dibayarkan dadiotv peminjam untuk menarik masa bermula segera setelah Semester yang Margfn biaya pendanaan dihitung...' Saya1,02 bagian. Dimanapun digunakan dalam Perjanjian ini, kecualiSebaliknya hubungan kalimatnya, memiliki beberapa istilah yang didefinisikan dalam peraturan pinjamanmasing-masing makna di dalamnya ditetapkan, dan ketentuan tambahan berikut memiliki berikut.'makna:() "ACAP" berarti rencana aksi anti korupsi disiapkan untuk PrOjectand 'didirikan di PAM;(b) "terpengaruh orang" berarti setiap orang yang lingkungan hidup dan/ataukegiatan mata pencaharian telah, atau akan merugikan terkena dampak dari kegiatan proyek;(c) "BAPPENAS" berarti Badan Perencanaan Pembangunan Nasional atauBadan Perencanaan badan dan penerus apapun perubahannya;(d) "komponen" berarti komponen proyek seperti yang dijelaskan dalamJadwal 1 perjanjian pinjaman ini;(f) "Consulting Services" berarti layanan untuk dibiayai darihasil dari pinjaman sebagaimana dimaksud dalam ayat 3 1 jadwal perjanjian pinjaman ini;(e) "konsultasi panduan" berarti pedoman penggunaanKonsultan oleh Bank Pembangunan Asia dan para peminjam (2010, sebagaimana telah diubah dari waktu kewaktu);(g) "DGW berarti Direktorat Jenderal Bina Marga di bawah KPUdan penerus apapun perubahannya;(h) "EMP" berarti rencana pengelolaan lingkungan siap untukProyek rincian langkah-langkah mitigasi dan memantau kegiatan untuk menghindari atau mengurangihegative dampak lingkungan yang timbul dari proyek;(i) "barang" berarti peralatan dan bahan-bahan untuk dibiayai darihasil dari pinjaman, termasuk layanan terkait seperti transportasi, asuransi,instalasi, komisioning, pelatihan, dan pemeliharaan awal, tetapi tidak termasuk ConsultingLayanan;-~~ -_- --- -_-- ------- --- --- ------------(j) "HIV/AIDS" berarti manusia immunodeficiency {virus lahannyaimmunodeficiency syndrome;(k) "lEE" berarti pemeriksaan lingkungan awal yang dipersiapkan untukProyek;(I) "Menurut menerapkan" atau "lAs" berarti peminjam (I)Direktorat Jenderal transportasi darat, Departemen Perhubungan dan penerus apapun4perubahannya; (ii) lalu lintas polisi Korps, kepolisian nasional Indonesia dan thereto• penerus apapun dan(iii) Direktorat angkutan, BAPPENAS, dan penerus apapun perubahannya; ,(rn) "LARAPs" berarti tanah akuisisi dan pemukiman rencana aksi untukthe Project and incorporated by reference in the PAM;(n) "Loan Disbursement Handbook" means ADB's Loan DisbursementHandbook (2007, as amended from time to time);(0) "MPW" means the Borrower's Ministry of Public Works and anysuccessor thereto;(w) "Rupiah" or "Rp" means the currency of the Borrower;(p) "PAM" means the project administration manual for the Project dated30 June 2011 and agreed between the Borrower and ADB, as updated from time to time inaccordance with the respective procedures of the Borrower and ADS;(q) "PMU" means the project management unit established In the DGH forthe Project and further described in the PAM;(r) "Procurement Guidelines" means ADB's Procurement Guidelines(2010, as amended from time to time);(s) "Procurement Plan" means the procurement plan for the Project dated30 June 2011 and incorporated by reference in the PAM and agreed between the Borrowerand ADB, as updated from time to time in accordance with Procurement Guidelines,Consulting Guidelines and other arrangements agreed with ADB;(t) "Project Area" means the Borrower's provinces of East and WestKalimantan and East and Central Java;(u) "Project Executing Agency" or "EA" for the purposes, and within themeaning, of the Loan Regulations means DGH, or any successor thereto acceptable to ADB,which is responsible for the overall supervision and execution of the Project;(v) "Project facilities" means the facilities constructed and equipmentprovided under the Project;(x) "SPS" means ADB's Safeguard Policy Statement dated 2009; and(y) "Works" means construction or civil works to be financed out of theproceeds of the Loan, including services such as drilling or mapping, and project relatedservices that are provided as pad of a single responsibility or turnkey contract, but excludingConsulting Services.5ARTICLE IIThe LoanSection 2.01. (a) ADB agrees to lend to the Borrower from ADS'sordinary capital resources an amount of one hundred eighty million Dollars ($180,OOO,OOO),as such amount may be converted from time to time through a Currency Conversion Inaccordance with the provisions of Section 2.06 of this Loan Agreement.(b) The Loan has a principal repayment period of 20 years, and a graceperiod as defined in paragraph (c) of this Section.(c) The term "grace period" as used in paragraph (b) of this Sectionmeans the period prior to the first Principal Payment Date in accordance with theamortization schedule set forth in Schedule 2 to this Loan Agreement.Section 2.02. The Borrower shall pay to ADB interest on the principalamount of the Loan withdrawn and.outstanding from time to time at a rate fon:each Interest .:Period equal to the sum of lIBOR and 0.60% as provided by Section 3.02 of the LoanRegulations, less a credit of 0.30% as provided by Section 3.03 of the Loan ReQulations.Section 2.03. The Borrower shall pay a commitment charge