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September 13, 1994
GRANT PROTOCOL BETWEEN THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES AND THE GOVERNMENT OF THE FRENCH REPUBLIC
With a view to strengthening the ties of friendship and cooperation which bind them, the Government of the Republic of the Philippines and the Government of the French Republic have agreed to conclude the present protocol to foster the economic development of the Philippines.
ARTICLE 1 - EXTENT AND PURPOSE OF FINANCIAL SUPPORT
The French Government grants the Government of the Republic of the Philippines a grant designed to finance projects included in the economic development priorities of the Republic of the Philippines. The said grant shall not exceed 1,73 MFF (ONE MILLION SEVEN HUNDRED AND THIRTY THOUSAND FRENCH FRANCS) and shall be used to finance the purchase of French goods and services related to the implementation of the projects listed in the annex herein.
For this project, the Philippine Government can decide that the financial support from the French Government shall be provided directly to a Government corporation of its choice.
ARTICLE 2 - CONDITIONS GOVERNING FINANCIAL SUPPORT
For these projects, an agreement between either the governmental corporation designated by the Government of the Republic of the Philippines to receive the French financial support, or the Department of Finance of the Philippines acting in the name and on behalf of the Government of the Republic of the Philippines and Credit National, acting in the name and on behalf of the Government of the French Republic, shall define the mechanisms of utilisation of the French Treasury grant.
ARTICLE 3 - CURRENCY OF ACCOUNT AND PAYMENT
All transactions under the terms of the present protocol shall be carried out in French francs.
ARTICLE 4 - IMPLEMENTATION DEADLINE AND EXPIRY DATE OF THE FRENCH FINANCING
In order to qualify for the financial support provided for in Article 1 herein, contracts must be concluded by 30 September, 1995 at the latest, and the final decision for qualification for financing under the terms of the present protocol will have to be made three months after this date at the latest.
No drawing on the French Treasury financing provided by the present protocol shall be made after 30 September, 1997. This date shall not be extended except by special agreement between the two Governments in the event of exceptional difficulties.
ARTICLE 5 - FREIGHT AND INSURANCE
Freight and insurance are considered as French services when :
- freight is provided under a bill of lading issued by a French shipping company or under an airway bill issued by a French air-freight company, and is certified by the French appropriate authorities as being a French service.
- insurance cover is taken out with approved companies on the French market.
ARTICLE 6 - CONTRACTS COVERED
The final decision on whether contracts related to the projects referred to in the annex herein qualify for financial support under the terms of the present protocol shall be made by exchange of letters between the National Economic and Development Authority of the Philippines acting on behalf of the Philippine Government and the Economic and Commercial Counsellor to the French Embassy in Manila acting with the authorization of the competent French authorities. This decision will depend on the guarantee that the total amount needed for each project is available.
In case of arrears related to French Treasury loans, no final positive decision on this grant agreement will be possible.
ARTICLE 7 - APPRAISAL OF PROJECTS
The Government of the Republic of France may proceed at its own expenses to undertake a post evaluation of the projects financed under this protocol in order to gauge their impact on the economic development of the Philippines. The Government of the Republic of the Philippines could, should it so wish, participate in this evaluation in order to benefit directly from the findings. The Government of the Republic of the Philippines agrees to welcome such appraisal mission sent by the French Government and to facilitate its access to relevant information about the projects.
ARTICLE 8 - DATE OF EFFECT
The present protocol shall come into force at the date of its sealing.
IN WITNESS THEREOF, the undersigned, authorised for this purpose by their respective Government, have affixed thereto their seals. | |
Done in Paris, the 13th of September, 1994 | |
(in four originals, two in the French and two in the English language, the two texts being equally authoritative). |
For the Government of the Republic of the Philippines | For the Government of the French Republic |
(Sgd.) ROBERTO DE OCAMPO | (Sgd.) EDMOND ALPHANDERY |