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The agreement between the Government of the Kyrgyz Republic and the Government of the Russian Federation on settlement of debt of the Kyrgyz Republic to the Russian Federation on earlier granted public credits

of June 13, 2000

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

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

recognizing need of the fastest settlement of overdue debt of the Kyrgyz Republic on the public credits granted by the Russian Federation

agreed as follows:

Article 1

Provisions of this agreement will be applied to debt on percent on the public credits granted by the Government of the Russian Federation to the Government of the Kyrgyz Republic, due for settlement and not extinguished as of January 1, 2000 (further hereinafter is referred to as - the ureguliruyemy amount).

Provisions of this agreement will be applied to the specified debt, irrespective of the mechanisms of repayment established in the credit agreements signed by the Parties.

Article 2

The Ureguliruyemy amount as of January 1, 2000 constitutes 21156406, the 5th US dollar.

Article 3

1. On the ureguliruyemy amount the Kyrgyz Side will issue and will transfer till June 20, 2000. To the Russian side two bills of exchange equal at par value, with repayment periods on July 1, 2001 and on January 1, 2002 (further hereinafter are referred to as - the first bill of exchange and the second bill of exchange).

2. Since January 1, 2000 on the ureguliruyemy amount percent on rate of 6 annual interest rates, proceeding from the actual number of the days which expired in 360-day year will be charged.

3. On the amount of the added percent the Kyrgyz Side will issue and will transfer till June 20, 2000. To the Russian side of the bill of exchange.

Bills of exchange are written out for "for certain day", proceeding from the repayment schedule of bills of exchange given in the Appendix to this agreement which is its integral part and shall be registered by the Ministry of Finance of the Kyrgyz Republic.

4. In case of early repayment by the Kyrgyz Side of the bills of exchange specified in Item 1 of this Article, bills of exchange are transferred to the Kyrgyz Side after payment of the percent added before repayment date of bills of exchange it.

Article 4

The National Bank of the Kyrgyz Republic and Bank for Foreign Economic Affairs of the USSR (Vnesheconombank hereinafter is referred to as further) are authorized agents according to the Government of the Kyrgyz Republic and the Government of the Russian Federation.

The technical procedure for reflection and accounting of debt of the Kyrgyz Republic which is settlement subject within this agreement shall be established in the relevant agreement between National Bank of the Kyrgyz Republic and Vnesheconombank.

Article 5

The Kyrgyz Side grants to the Russian Side the assignment right to the third parties of the bills of exchange specified in Article 3 of this agreement under preliminary written approval of the Ministry of Finance of the Kyrgyz Republic.

If after 30 calendar days from the date of the official appeal of the Ministry of Finance of the Russian Federation about assignment of bills of exchange the Ministry of Finance of the Kyrgyz Republic will not provide to the third parties confirmation about carrying out the specified assignment or will not inform on motivated refusal in its carrying out, the Russian Side has the irrevocable right to perform assignment of bills of exchange without approval of the Kyrgyz Side.

Article 6

Obligations of the Kyrgyz Side on the bills of exchange issued according to this agreement are regulated by the Uniform law about the translated and promissory note accepted by the Geneva bill convention of 1930.

Article 7

This agreement becomes effective from signature date and is effective before full implementation of the obligations by the Parties under this agreement.

It is made in Moscow on June 13, 2000 in duplicate in Russian.

 

For the Government of the Kyrgyz Republic 

For the Government of the Russian Federation

Appendix

to the Agreement between the Government of the Kyrgyz Republic and the Government of the Russian Federation on settlement of debt of the Kyrgyz Republic to the Russian Federation on earlier granted public credits

Repayment schedule of bills of exchange

                 (US dollars)

+--------------------------------------------------------------------+
|Срок погашения    |Первый век-|Второй век-|Векселя  по|Векселя    по|
|                  |сель       |сель       |процентам, |процентам,   |
|                  |           |           |начислен-  |начисленным  |
|                  |           |           |ным      на|на второй    |
|                  |           |           |первый     |вексель      |
|                  |           |           |вексель    |             |
+------------------+-----------+-----------+-----------+-------------|
|1 июля 2000 года  |           |           |322635,20  |322635,20    |
|1 января 2001 года|           |           |324398,23  |324398,23    |
|1 июля 2001 года  |10578203,25|           |319109,13  |319109,13    |
|1 января 2002 года|           |10578203,25|           |324398,23    |
+--------------------------------------------------------------------+

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