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The agreement between the Government of the Kyrgyz Republic and the Government of the Russian Federation on repayment of part of public debt in property form and write-off of the remained debt of the Kyrgyz Republic to the Russian Federation

of September 3, 2009

The government of the Kyrgyz Republic and the Government of the Russian Federation which are hereinafter referred to as with the Parties

in view of difficult financial position of the Kyrgyz Republic,

for the purpose of further strengthening of friendship and development of mutually beneficial cooperation between two countries,

in accordance with the terms of the Multilateral memorandum of consolidation of the debt of the Kyrgyz Republic signed on March 11, 2005 in Paris by representatives of the Government of the Kyrgyz Republic and representatives of the governments of the participating states creditors of the Paris Club

proceeding from article 8 of the Agreement between the Government of the Kyrgyz Republic and the Government of the Russian Federation about settlement of debt of the Kyrgyz Republic to the Russian Federation on earlier granted loans of September 5, 2005 (further hereinafter is referred to as - the Agreement of September 5, 2005),

agreed as follows:

Article 1

The total amount of debt of the Kyrgyz Republic on principal debt on public credits settled according to the Agreement of September 5, 2005 as of January 1, 2009 constitutes 193.561.458,33 of US dollars (further - debt on the Agreement).

Article 2

1. Part of the debt of the Kyrgyz Republic to the Russian Federation specified in Article 1 of this agreement is settled ahead of schedule in the way:

a) transfer into the ownership of the Russian Federation of the block of shares of open joint stock company which is in property of the Kyrgyz Republic of 48% "Dastan multinational corporation (далееОАО "Dastan MNC) worth 19.405. 624, 86th US dollar;

b) transfer into the ownership of the Russian Federation buildings of the Trade mission of the Russian Federation in the Kyrgyz Republic, Bishkek, Ulitsa Razzakova, No. 17 (with the parcel of land with the right of free use for a period of 49 years with the subsequent prolongations) (further - property object) cost according to market assessment.

2. The procedure for transfer into the ownership of the Russian Federation for the shares specified in Item 2 of this Article and property object, and also condition of implementation of competences of the owner by the Russian Federation concerning shares of JSC Dastan MNC and operation of property object are determined by the separate protocol of the Parties.

3. Within 7 working days after the official notice of the Kyrgyz Side on legal registration of the property right of the Russian Federation for 48% of the block of shares of JSC Dastan MNC and property object, the Russian Side will make write-off of part of debt on the Agreement in volume of the amounts specified in Item 1 of this Article.

4. Since September 1, 2008 until registration of the property right of the Russian Federation for 48% of the block of shares of JSC Dastan MNC and property object percent on the debt specified in Article 1 of this agreement are not charged.

Article 3

Remained after the write-off specified in Item 3 of Article 2 of this agreement, part of debt of the Kyrgyz Republic within 7 working days after legal registration of the property right of the Russian Federation for 48% of the block of shares of JSC Dastan MNC and property object will be written off within the actions for rendering official aid to development of the Kyrgyz Republic.

Article 4

All disputes and disagreements which can arise in case of application or interpretation of provisions of this agreement or in connection with it including, the violations concerning it, the termination or invalidity, are solved by negotiations between the Parties.

Article 5

In case of failure to carry out of provisions of Item 1 of Article 2 of this agreement till December 1, 2009 debt repayment under the Agreement is performed according to the schedule specified in Appendix 3 to the Agreement of September 5, 2005.

Article 6

This agreement becomes effective from the date of the last written notice of accomplishment of the interstate procedures by the Parties necessary for its entry into force.

It is made in the city of Moscow on February 3, 2009 in duplicate, everyone in the Kyrgyz and Russian languages, and all texts are equally authoritative. In case of contradictions in case of interpretation of this agreement the text in Russian is assumed as a basis.

 

For the Government

Kyrgyz Republic

For the Government

Russian Federation

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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