FRAMEWORK AGREEMENT N° CRS1025

ПРЕДЛОГ

З А К О Н

О ПОТВРЂИВАЊУ ОКВИРНОГ СПОРАЗУМА БРОЈ ЦРС1025 О КРЕДИТНИМ ЛИНИЈАМА ЗА ФИНАНСИРАЊЕ ПРОГРАМСКЕ ОПЕРАЦИЈЕ ЗА

РАЗВОЈНУ ПОЛИТИКУ ЗЕЛЕНОГ РАСТА У СРБИЈИ ИЗМЕЂУ ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ, КАО ЗАЈМОДАВЦА И РЕПУБЛИКЕ

СРБИЈЕ, КАО ЗАЈМОПРИМЦА

Члан 1.

Потврђује се Оквирни споразум број ЦРС1025 о кредитним линијама за финансирање Програмске операције за развојну политику зеленог раста у Србији између Француске агенције за развој, као Зајмодавца и Републике Србије, као Зајмопримца, који је потписан у Београду, 26. јуна 2023. године, у оригиналу на енглеском језику.

Члан 2.

Текст Оквирног споразума број ЦРС1025 о кредитним линијама за финансирање Програмске операције за развојну политику зеленог раста у Србији између Француске агенције за развој, као Зајмодавца и Републике Србије, као Зајмопримца, у оригиналу на енглеском језику и преводу на српски језик гласи:

FRAMEWORK AGREEMENT N° CRS1025

ON CREDIT FACILITIES FOR THE FINANCING OF THE SERBIA GREEN AGENDA PROGRAMMATIC DEVELOPMENT POLICY OPERATION

dated as of 26 June 2023

between

AGENCE FRANCAISE DE DEVELOPPEMENT

The Lender

and

THE REPUBLIC OF SERBIA

The Borrower

1 DEFINITIONS AND CONSTRUCTION 7

1.1 Definitions 7

1.2 Construction 7

2 PURPOSE OF THE FRAMEWORK AGREEMENT 7

2.1 Uncommitted credit facility 7

2.2 General terms and conditions applicable to a Credit 7

3 DURATION OF THE FRAMEWORK AGREEMENT 7

4 AMOUNT, PURPOSE AND CONDITIONS OF UTILISATION 8

4.1 Credits Amounts 8

4.2 Purpose 8

4.3 Monitoring 8

4.4 Conditions Precedent 8

5 DRAWDOWN OF FUNDS 9

5.1 Availability of Drawdowns 9

5.2 Drawdown Request 9

5.3 Payment Completion 9

5.4 Deadline for Drawdown 10

6 INTEREST APPLICABLE TO A CREDIT 10

6.1 Interest Rate applicable to a Credit 10

6.2 Calculation and payment of interest 12

6.3 Late payment and default interest 12

6.4 Communication of Interest Rates 12

7 CHANGE TO THE CALCULATION OF INTEREST APPLICABLE TO A CREDIT 13

7.1 Market Disruption 13

7.2 Replacement of Screen Rate 13

8 FEES APPLICABLE TO A CREDIT 14

8.1 Commitment fees applicable to a Credit 14

8.2 Front-end Fee applicable to a Credit 15

9 CREDITS REPAYMENT 15

10 PREPAYMENT AND CANCELLATION OF A CREDIT 15

10.1 Voluntary prepayment under a Credit 15

10.2 Mandatory prepayment under a Credit 16

10.3 Cancellation of a Credit by the Borrower 16

10.4 Cancellation of a Credit by the Lender 16

10.5 Restrictions 17

11 ADDITIONAL PAYMENT OBLIGATIONS 17

11.1 Costs and expenses 17

11.2 Cancellation Indemnity under a Credit 17

11.3 Prepayment Indemnity under a Credit 18

11.4 Taxes and duties 18

11.5 Additional Costs 18

11.6 Currency indemnity 19

11.7 Due dates 19

12 REPRESENTATIONS AND WARRANTIES 19

12.1 Power and authority 19

12.2 Validity and admissibility in evidence 20

12.3 Binding obligations 20

12.4 No filing or stamp taxes 20

12.5 Transfer of funds 20

12.6 No conflict with other obligations 20

12.7 Governing law and enforcement 21

12.8 No default 21

12.9 No misleading information 21

12.10Pari passu ranking 21

12.11Licit Origin of the funds and Prohibited Practices 21

12.12No Material Adverse Effect 21

12.13No immunity 21

13 UNDERTAKINGS 22

13.1 Compliance with laws and regulations 22

13.2 Authorisations 22

13.3 Implementation and preservation of the Program 22

13.4 Environmental and social responsibility 23

13.5 Pari passu ranking 23

13.6 Inspections 23

13.7 Program evaluation 23

13.8 Financial Sanctions Lists and Embargo 24

13.9 Licit Origin, absence of Prohibited Practices 24

13.10Program Monitoring 24

13.11Visibility and Communication 24

14 INFORMATION UNDERTAKINGS 25

14.1 Financial Information 25

14.2 Monitoring Reports 25

14.3 Co-Financing 25

14.4 Information - miscellaneous 25

15 EVENTS OF DEFAULTS UNDER THE CREDITS 25

15.1 Events of Default 25

15.2 Acceleration 27

15.3 Notification of an Event of Default 28

16 ADMINISTRATION OF CREDITS 28

16.1 Payments 28

16.2 Set-off 28

16.3 Business Days 28

16.4 Currency of payment 28

16.5 Day count convention 29

16.6 Place of payment 29

16.7 Payment Systems Disruption 29

17 MISCELLANEOUS 30

17.1 Certifications and determinations 30

17.2 Assignment 30

17.3 Confidentiality - Disclosure of information 30

17.4 Limitation 30

17.5 Hardship 30

17.6 Language 31

17.7 Partial invalidity 31

17.8 No waiver 31

17.9 Legal effect 31

17.10Entire agreement 31

17.11Amendments 31

18 NOTICES 32

18.1 Communications in writing and addresses 32

18.2 Delivery 32

18.3 Electronic communications 33

19 GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE 33

19.1 Governing Law 33

19.2 Arbitration 33

SCHEDULE 1A – PROGRAM DESCRIPTION 36

SCHEDULE 1B – FINANCING PLAN 43

SCHEDULE 2 – DEFINITIONS & CONSTRUCTION 44

SCHEDULE 3 – CONDITIONS PRECEDENT 54

SCHEDULE 4 – FORMS FOR THE DRAWDOWNS UNDER A CREDIT 57

SCHEDULE 5 - INFORMATION THAT MAY BE PUBLISHED ON THE FRENCH GOVERNMENT WEBSITE AND THE LENDER’S WEBSITE 63

SCHEDULE 6 - NON-EXHAUSTIVE LIST OF ENVIRONMENTAL AND SOCIAL DOCUMENTS WHICH THE BORROWER PERMITS TO BE DISCLOSED IN CONNECTION WITH ES COMPLAINTS-MANAGEMENT MECHANISM’S RULES

OF PROCEDURE 64

FRAMEWORK AGREEMENT FOR CREDIT FACILITIES FOR THE FINANCING OF THE SERBIA GREEN AGENDA PROGRAMMATIC DEVELOPMENT POLICY OPERATION

BETWEEN:

REPUBLIC OF SERBIA represented by the Government of the Republic of Serbia, through Minister of Finance, Mr. Xxxxxx Xxxx, duly authorised to sign the Framework Agreement,

(“Republic of Serbia” or the “Borrower”);

AND

AGENCE FRANCAISE DE DEVELOPPEMENT, a French public entity governed by French law, with its registered office at 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Xxxxxx, registered with the Trade and Companies Register of Paris under number 000 000 000, represented by Mr. Xxxxxxxxx Xxxxxxxxxx, in his capacity as Head of Western Balkans regional office, duly authorised to sign this Framework Agreement,

(“AFD” or the “Lender”);

(hereinafter jointly referred to as the “Parties” and each a “Party”).

WHEREAS:

(A) In the context of the program as defined in Schedule 1A (Program Description) of the Framework Agreement (the “Program”), the Borrower intends to implement the Program Phases.

(B) Pursuant to resolution n° C20221268 of its Conseil d’Administration dated December 15, 2022, AFD is authorized to enter into this Framework Agreement for making two Credits available to the Borrower for the purpose of financing the Program Phases.

(C) The Borrower and AFD have agreed to establish in advance through this Framework Agreement the general terms and conditions applicable to the Credits that may be made available for the financing of the Program Phases.

(D) AFD has agreed to make available to the Borrower through this Framework Agreement, a first Credit of an aggregate amount of one hundred and thirty five millions euros (EUR 135,000,000) (the “First Credit”), under the general conditions set out herein and the specific conditions that will be set out in the First Credit Specific Agreement.

(E) Subject to the Program's implementation progress and AFD’s relevant decision-making body’s further approval, a second Credit with a maximum aggregate amount of one hundred and thirty five millions euros (EUR 135,000,000), or any other amount that Parties mutually agree (the “Second Credit”), would be made available to the Borrower under the general conditions set out herein and the specific conditions that would be set out in the Second Credit Specific Agreement.

(F) The International Bank for Reconstruction and Development (IBRD) and the Kreditanstalt für Wiederaufbau (KFW) (the “Co-Financiers”) intend to finance the Program Phases in parallel to the Credits that may be made available by AFD.

THEREFORE THE PARTIES HAVE AGREED AS FOLLOWS:

1 DEFINITIONS AND CONSTRUCTION

1.1 Definitions

Capitalised words and expressions used in the Framework Agreement (including the Schedules of the Framework Agreement) shall have the meaning given to them in Schedule 2 (Definitions & Construction) of the Framework Agreement, except as otherwise provided in the Framework Agreement.

1.2 Construction

Words and expressions used in the Framework Agreement shall be construed pursuant to the provisions of Schedule 2 (Definitions & Construction) of the Framework Agreement, unless a contrary indication appears.

2 PURPOSE OF THE FRAMEWORK AGREEMENT

2.1 Uncommitted credit facility

As from the Framework Agreement Signing Date and as long as the Framework Agreement remains in full force in accordance with Clause 3 (Duration of the Framework Agreement), the Borrower may request that AFD makes available to it a Credit for the financing of a Program Phase, which AFD may, on a case-by-case and discretionary basis, without any commitment, decide to accept or to refuse to make available.

2.2 General terms and conditions applicable to a Credit

AFD and the Borrower agree that the terms and conditions applicable to a Credit will be those set out in this Framework Agreement and completed by those set out in the First Credit Specific Agreement (with respect to the First Credit) and in the Second Credit Specific Agreement (with respect to the Second Credit, if applicable).

3 DURATION OF THE FRAMEWORK AGREEMENT

The Framework Agreement comes into force on the first Effective Date and will remain in full force and effect for three (3) years as from the Framework Agreement Signing Date (the “Final Date”).

Each Party may terminate the Framework Agreement at any time until the Final Date, without indemnities (other than those due under the outstanding Credits), subject to the delivery of a notification to the other Party by registered letter with acknowledgment of receipt at least fifteen (15) calendar days before the anticipated termination date as indicated in such notification (the “Termination Date”).

As from the date falling three months before the Final Date, or as from the date of the delivery of the termination notice referred to above, the Borrower shall not request that AFD makes available to it a Credit for the financing of a Program Phase, but the Framework Agreement will continue to produce its

effects regarding the outstanding Credits as long as any amount remains due under the Finance Documents.

4 AMOUNT, PURPOSE AND CONDITIONS OF UTILISATION

4.1 Credits Amounts

The aggregate amount of the Credits that may be granted under the Framework Agreement shall not exceed two hundred and seventy million euros (EUR 270,000,000), or any other amount that Parties mutually agreed, detailed as follows:

(a) the First Credit for the financing of the Program shall be of an amount of one hundred and thirty five million euros (EUR 135,000,000);

(b) the Second Credit for the financing of the Program shall be of a maximum amount of one hundred and thirty five million euros (EUR 135,000,000), or any other amount that Parties mutually agreed;

4.2 Purpose

The purpose of the Credits is to contribute to the financing of the budget of the Borrower in relation to the implementation of the Program as described in Schedule 1A (Program Description).

4.3 Monitoring

The Lender shall not be held responsible for the use of any amount borrowed which is not in accordance with the provisions of the Finance Documents.

4.4 Conditions Precedent

(a) No later than on the Framework Agreement Signing Date, the Borrower shall provide to the Lender all of the documents set out in Part I (Conditions Precedent to the signing of the Framework Agreement and the First Credit Specific Agreement) of Schedule 3 (Conditions Precedent) of the Framework Agreement, in form and substance satisfactory to the Lender.

(b) No later than on the Signing Date of the Second Credit Specific Agreement, the Borrower shall provide to the Lender all of the documents set out in Part II (Conditions Precedent to the signing of the Second Credit Specific Agreement) of Schedule 3 (Conditions Precedent) of the Framework Agreement, in form and substance satisfactory to the Lender.

(a) in the case of the First Credit, the Lender has received all of documents listed in Part III - B (Conditions Precedent to the Drawdown of the First Credit) of Schedule 3 (Conditions Precedent) of the Framework Agreement and has notified the

Borrower that such documents are satisfactory in form and substance; and

(b) in the case of the Second Credit, the Lender has received all of the documents set out in Part IV – B (Conditions Precedent to the Drawdown of the Second Credit) of Schedule 3 (Conditions Precedent) of the Framework Agreement and has notified the Borrower that such documents are satisfactory in form and substance.

(d) The Lender will have to make a Drawdown available only if, on the applicable date of the Drawdown Request and on the applicable Drawdown Date, no Payment Systems Disruption Event has occurred and the conditions set out in the Finance Documents have been fulfilled, including:

(a) no Event of Default is continuing or would result from the proposed Drawdown;

(b) the Drawdown Request has been made in accordance with the terms of Clause 5.2 (Drawdown Request) of the Framework Agreement;

(c) each representation given by the Borrower in relation to Clause 12 (Representations and warranties) of the Framework Agreement is true.

(e) The Lender reserves the right not to make a Drawdown available if a Co-Financier has suspended its payments in relation to any of the Program Phases.

5 DRAWDOWN OF FUNDS

5.1 Availability of Drawdowns

Any amount under a Credit will be made available to the Borrower during the Availability Period related to this Credit, in a single Drawdown.

5.2 Drawdown Request

Provided that the conditions set out in Clause 4.4 (Conditions Precedent) of the Framework Agreement and if applicable in the relevant Specific Agreement are satisfied, the Borrower may draw on a Credit by delivery to the Lender of a duly completed Drawdown Request. Each Drawdown Request shall be delivered by the Borrower to the AFD office Director at the address specified in Clause 18.1 (Communications in writing and addresses) of the Framework Agreement.

Each Drawdown Request is irrevocable and will be regarded as having been duly completed if:

(a) the Drawdown Request is substantially in the form set out in Part I (Form of Drawdown Request) of Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement;

(b) the Drawdown Request is received by the Lender at the latest fifteen

(15) Business Days prior to the Deadline for Drawdown;

(d) the amount of the Drawdown complies with the Framework Agreement; and

(e) the conditions set out in Clause 4.4(d) are satisfied.

5.3 Payment Completion

Subject to Clause 16.7 (Payment Systems Disruption ) of the Framework Agreement, if each of the conditions set out in Clause 4.4 (Conditions Precedent) of the Framework Agreement and if applicable, in the relevant Specific Agreement has been met, the Lender shall make the requested Drawdown available to the Borrower not later than the Drawdown Date.

The Lender shall provide the Borrower with a letter of Drawdown confirmation substantially in the form set out in Part II (Form of Confirmation of Drawdown and rate) of Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement.

5.4 Deadline for Drawdown

The full drawdown of a Credit shall occur on or before the Deadline for Drawdown.

If the full drawdown of a Credit does not occur within the above-mentioned period, the Lender may cancel the Available Credit in accordance with Clause

10.4 (Cancellation of a Credit by the Lender) of the Framework Agreement.

The Deadline for Drawdown shall not be postponed without prior consent of the Lender.

Any postponement of the Deadline for Drawdown shall be (i) subject to fees and/or new financial conditions and (ii) in writing between the Parties as an amendment.

6 INTEREST APPLICABLE TO A CREDIT

6.1 Interest Rate applicable to a Credit

6.1.1 Selection of Interest Rate

For each Drawdown under a Credit, the Borrower may select a fixed Interest Rate or a floating Interest Rate, which shall apply to the amount set out in the relevant Drawdown Request, by stating the selected Interest Rate, i.e., fixed or floating, in the Drawdown Request delivered to the Lender substantially in the form set out in Part I (Form of Drawdown Request) of the Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement, subject to the following conditions:

(a) Floating Interest Rate

Regardless of the amount of the requested Drawdown, the Borrower may select a floating Interest Rate, which shall be the percentage rate per annum, being the aggregate of:

- six-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 7 (Change to the calculation of interest applicable to a Credit) of the Framework Agreement; and

- the Margin.

Notwithstanding the above, for each Drawdown, in the case of the first Interest Period, if the first Interest Period is less than one hundred and thirty-five (135) days, the applicable EURIBOR shall be:

- one-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 7 (Change to the calculation of interest applicable to a Credit) of the Framework Agreement, if the first Interest Period is less than sixty (60) days; or

- three-month EURIBOR, or, as the case may be, the Replacement Benchmark plus any Adjustment Margin, as determined in accordance with the provisions of Clause 7 (Change to the calculation of interest applicable to a Credit) of the Framework Agreement if the first Interest Period is between sixty (60) days and one hundred and thirty-five

(135) days.

(b) Fixed Interest Rate

Without prejudice to Clause 5.1 (Availability of Drawdowns), given that the amount of a requested Drawdown is equal to or greater than three million Euros (EUR 3,000,000), the Borrower may select a fixed Interest Rate for such requested Drawdown. The fixed Interest Rate shall be the Fixed Reference Rate increased or decreased by any fluctuation of the Index Rate between the Signing Rate Setting Date and the Rate Setting Date for each Drawdown.

The Borrower may specify in the Drawdown Request a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified in the relevant Drawdown Request, such Drawdown Request shall be cancelled and the Drawdown amount specified in the cancelled Drawdown Request shall be credited to the Available Credit.

6.1.2 Minimum Interest Rate

The Interest Rate determined in accordance with Clause 6.1.1(Selection of Interest Rate), regardless of the elected option, shall not be less than zero point twenty-five per cent (0.25%) per annum, notwithstanding any decline in the Interest Rate.

6.1.3 Conversion from a floating Interest Rate to a fixed Interest Rate

The floating Interest Rate applicable to one or more than one Drawdowns shall be converted to a fixed Interest Rate in accordance with the conditions set out below:

(a) Rate Conversion upon the Borrower’s request

At any time, the Borrower may request that the Lender converts the floating Interest Rate applicable to a Drawdown or several Drawdowns to a fixed Interest Rate, given that, without prejudice to Clause 5.1(Availability of Drawdowns), the amount of such Drawdown or aggregate amount of Drawdowns (as applicable) is equal to or exceed three million Euros (EUR 3,000,000).

To this effect, the Borrower shall send to the Lender a Rate Conversion Request substantially in the form set out in Part III (Form of Rate Conversion Request) of Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement. The Borrower may specify in the Rate Conversion Letter a maximum amount for fixed Interest Rate. If the fixed Interest Rate as calculated on the Rate Setting Date exceeds the maximum amount for fixed Interest Rate specified by the Borrower in the Rate Conversion Request, such Rate Conversion Request will be automatically cancelled.

The fixed Interest Rate will be effective two (2) Business Days after the Rate Setting Date.

(b) Rate Conversion mechanics

The fixed Interest Rate applicable to the relevant Drawdown(s) shall be determined in accordance with Clause 6.1.1(b) (Fixed Interest Rate) of the Framework Agreement on the Rate Setting Date referred to in subparagraph (a) above.

The Lender shall promptly send to the Borrower a letter of confirmation of Rate Conversion substantially in the form set out in Part IV (Form of Rate Conversion Confirmation) of Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement.

A Rate Conversion is final and effected without costs.

6.2 Calculation and payment of interest

The Borrower shall pay accrued interest on Drawdown(s) on each Payment Date.

The amount of interest payable by the Borrower on a relevant Payment Date and for a relevant Interest Period shall be equal to the sum of any interest owed by the Borrower on the amount of the Outstanding Principal in respect of each Drawdown. Interest owed by the Borrower in respect of each Drawdown shall be calculated on the basis of:

(a) the Outstanding Principal owed by the Borrower in respect of the relevant Drawdown as at the immediately preceding Payment Date or, in the case of the first Interest Period, on the corresponding Drawdown Date;

(b) the exact number of days which have accrued during the relevant Interest Period on the basis of a three hundred and sixty (360) day year; and

(c) the applicable Interest Rate determined in accordance with the provisions of Clause 6.1 (Interest Rate applicable to a Credit) of the Framework Agreement.

6.3 Late payment and default interest

(a) Late payment and default interest on all amounts due and unpaid (except for interest)

If the Borrower fails to pay any amount payable by it to the Lender under the Finance Documents (whether a payment of principal, a Prepayment Indemnity, any fees or incidental expenses of any kind except for any unpaid overdue interest) on its due date, interest shall accrue on the overdue amount, to the extent permitted by law, from the due date up to the date of actual payment (both before and after an arbitral award, if any) at the Interest Rate applicable to the current Interest Period (default interest) increased by three point five per cent (3.5%) (late-payment interest). No formal prior notice from the Lender shall be necessary.

(b) Late payment and default interest on unpaid overdue interest

Interest which has not been paid on its due date shall bear interest, to the extent permitted by law, at the Interest Rate applicable to the ongoing Interest Period (default interest), increased by three point five per cent (3.5%) (late-payment interest), to the extent that such Interest has been due and payable for at least one (1) year. No formal prior notice from the Lender shall be necessary.

The Borrower shall pay any outstanding interest under Clause 6.3 (Late payment and default interest) of the Framework Agreement immediately on demand by the Lender or on each Payment Date following the due date for the outstanding payment.

(c) Receipt of any payment of late payment interest or default interest by the Lender shall neither imply the grant of any payment extension to the Borrower, nor operate as a waiver of any of the Lender’s rights hereunder.

6.4 Communication of Interest Rates

The Lender shall promptly notify the Borrower of the determination of each Interest Rate in accordance with the Finance Documents.

7 CHANGE TO THE CALCULATION OF INTEREST APPLICABLE TO A CREDIT

7.1 Market Disruption

(a) If a Market Disruption affects the interbank market in the Eurozone and it is impossible:

(i) for the fixed Interest Rate, to determine the fixed Interest Rate applicable to a Drawdown, or

(ii) for the variable Interest Rate, to determine the applicable EURIBOR for the relevant Interest Period,

the Lender shall inform the Borrower.

(b) Upon the occurrence of the event described in paragraph (a) above, the applicable Interest Rate, as the case may be, for the relevant Drawdown or for the relevant Interest Period will be the sum of:

(i) the Margin; and

(ii) the percentage rate per annum corresponding to the cost to the Lender of funding the relevant Drawdowns(s) from whatever source it may reasonably select. Such rate shall be notified to the Borrower as soon as possible and, in any case, prior to (1) the first Payment Date for interest owed under such Drawdown for the fixed Interest Rate or (2) the Payment Date for interest owed under such Interest Period for the variable Interest Rate.

7.2 Replacement of Screen Rate

7.2.1 Definitions

"Relevant Nominating Body" means any central bank, regulator, supervisor or working group or committee sponsored or chaired by, or constituted at the request of any of them.

"Screen Rate Replacement Event" means any of the following events or series of events:

(a) the definition, methodology, formula or means of determining the Screen Rate has materially changed;

(b) a law or regulation is enacted which prohibits the use of the Screen Rate, it being specified, for the avoidance of doubt, that the occurrence of this event shall not constitute a mandatory prepayment event;

(i) that it has ceased or will cease to provide the Screen Rate permanently or indefinitely, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate;

(ii) that the Screen Rate has ceased or will cease to be published permanently or indefinitely; or

(iii) that the Screen Rate may no longer be used (whether now or in the future);

(d) a public announcement is made about the bankruptcy of the administrator of that Screen Rate or any other insolvency proceedings against it, and, at that time, no successor administrator has been publicly nominated to continue to provide that Screen Rate; or

(e) in the opinion of the Lender, the Screen Rate has ceased to be used in a series of comparable financing transactions.

"Screen Rate" means EURIBOR or, following the replacement of this rate by a Replacement Benchmark, the Replacement Benchmark.

"Screen Rate Replacement Date" means:

– with respect to the events referred to in items a), d) and e) of the above definition of Screen Rate Replacement Event, the date on which the Lender has knowledge of the occurrence of such event, and,

– with respect to the events referred to in items b) and c) of the above definition of Screen Rate Replacement Event, the date beyond which the use of the Screen Rate will be prohibited or the date on which the administrator of the Screen Rate permanently or indefinitely ceases to provide the Screen Rate or the date beyond which the Screen Rate may no longer be used.

7.2.2 Each Party acknowledges and agrees for the benefit of the other Party that if a Screen Rate Replacement Event occurs and in order to preserve the economic balance of the Framework Agreement, the Lender may replace the Screen Rate with another rate (the "Replacement Benchmark") which may include an adjustment margin in order to avoid any transfer of economic value between the Parties (if any) (the "Adjustment Margin") and the Lender will determine the date from which the Replacement Benchmark and, if any, the Adjustment Margin shall replace the Screen Rate and any other amendments to the Framework Agreement required as a result of the replacement of the Screen Rate by the Replacement Benchmark.

7.2.3 The determination of the Replacement Benchmark and the necessary amendments will be made in good faith and taking into account, (i) the recommendations of any Relevant Nominating Body, or (ii) the recommendations of the administrator of the Screen Rate, or (iii) the industry solution recommended by professional associations in the

banking sector or, (iv) the market practice observed in a series of comparable financing transactions on the replacement date.

7.2.4 In case of replacement of the Screen Rate, the Lender will promptly notify the Borrower of the replacement terms and conditions to replace the Screen Rate with the Replacement Benchmark, which will be applicable to Interest Periods starting at least two Business Days after the Screen Rate Replacement Date.

7.2.5 The provisions of Clause 7.2 (Replacement of Screen Rate) shall prevail over the provisions of Clause 7.1 (Market Disruption).

8 FEES APPLICABLE TO A CREDIT

8.1 Commitment fees applicable to a Credit

Starting from one hundred and eighty (180) calendar days after the Signing Date of a Specific Agreement, the Borrower shall pay to the Lender a commitment fee of zero point twenty five per cent (0.25%) per annum.

The commitment fee shall be computed at the rate specified above on the amount of the Available Credit pro-rated for the actual number of days elapsed increased, if applicable, by the amount of any Drawdowns to be made available by the Lender in accordance with any pending Drawdown Requests.

The first commitment fee shall be calculated for the period (i) from the date falling sixty (60) calendar days after the Signing Date of a Specific Agreement (excluded), up to (ii) the immediately following Payment Date (included). Subsequent commitment fees shall be calculated for periods starting on the day immediately following (included) a Payment Date and ending on the next Payment Date (included).

The accrued commitment fee shall be payable (i) on each Payment Date within the Availability Period; (ii) on the Payment Date following the last day of the Drawdown Period; (iii) in the event an Available Credit is cancelled in full, on the Payment Date following the effective date of such cancellation and (iv) in the event all Available Credits are cancelled in full, on the effective date of such cancellation.

8.2 Front-end Fee applicable to a Credit

No later than one hundred and eighty (180) calendar days after the Signing Date of a Specific Agreement, and prior to the Drawdown of a Credit, the Borrower shall pay to the Lender a front-end fee of zero point twenty five per cent (0.25%) calculated on the maximum amount of a Credit.

9 CREDITS REPAYMENT

Following expiry of the Grace Period, the Borrower shall repay the Lender the principal amount of a Credit in several instalments and payable on each Payment Date.

The number of instalments and the Payment Dates shall be determined in each Specific Agreement.

At the end of the Drawdown Period, the Lender shall deliver to the Borrower an amortisation schedule in respect of a Credit taking into account, if applicable, any potential cancellation of the Credit pursuant to Clause 10.3 (Cancellation of a Credit by the Borrower) of the Framework Agreement and Clause 10.4 (Cancellation of a Credit by the Lender) of the Framework Agreement.

10 PREPAYMENT AND CANCELLATION OF A CREDIT

10.1 Voluntary prepayment under a Credit

No prepayment of the whole or any part of a Credit is allowed until the end of the Drawdown Period.

As from the day following the end of the Drawdown Period, the Borrower may prepay the whole or any part of a Credit, subject to the following conditions:

(a) the Borrower shall notify the Lender of its intention to prepay by not less than thirty (30) Business Days’ written and irrevocable notice prior to the contemplated prepayment date;

(b) the amount to be prepaid shall be equal to one or several instalment(s) in principal;

(d) all prepayments shall be made together with the payment of accrued interest, any fees, indemnities and related costs in connection with the prepaid amount as provided under the Finance Documents;

(e) there is no outstanding unpaid amount.

On the Payment Date on which the prepayment is made, the Borrower shall pay the full amount of the Prepayment Indemnities due and payable pursuant to Clause 11.3 (Prepayment Indemnity under a Credit) of the Framework Agreement.

10.2 Mandatory prepayment under a Credit

The Borrower shall immediately prepay the whole or part of a Credit, if applicable, affected by one of any of the following events, upon receipt of a notice from the Lender:

(a) Illegality: it becomes unlawful for the Lender pursuant to its applicable law to perform any of its obligations as contemplated by the Finance Documents or to fund or maintain a Credit;

(b) Additional Costs: the amount of any Additional Costs referred to in Clause 11.5 (Additional Costs) of the Framework Agreement is significant and the Borrower has refused to pay such Additional Costs;

(c) Default: the Lender declares an Event of Default in accordance with Clause 15 (Events of Defaults under the Credits) of the Framework Agreement;

(d) Prepayment to a Co-Financier: the Borrower prepays whole or part of any amounts owed to a Co-Financier, in which case the Lender shall be entitled to request that the Borrower prepays, as the case may be, the Credit or an amount of the outstanding Credit in proportion with the amount prepaid to the Co-Financier;

(e) Prepayment of a Credit granted in the context of this Framework Agreement: the Borrower prepays whole or part of any amounts owed by it under a Credit granted by the Lender to the Borrower in accordance with the Framework Agreement, in which case the Lender shall be entitled to request that the Borrower prepays, in proportion with the amount so prepaid, the outstanding amounts under the Credit.

In the case of each of the events specified in paragraphs (a), (b) and (c) above, the Lender reserves the right, after having notified the Borrower in writing, to exercise its rights as a creditor in the manner specified in paragraph (b) of Clause 15.2 (Acceleration) of the Framework Agreement.

10.3 Cancellation of a Credit by the Borrower

Prior to the Deadline for Drawdown, the Borrower may cancel the whole or any part of the Available Credit under a Credit by giving the Lender a three (3) Business Days’ prior notice.

Upon receipt of such notice of cancellation, the Lender shall cancel the amount notified by the Borrower.

10.4 Cancellation of a Credit by the Lender

The Available Credit under a Credit shall be immediately cancelled upon delivery of a notice to the Borrower which shall be immediately effective, if:

(a) the Available Credit is not equal to zero on the Deadline for Drawdown;

(b) an Event of Default has occurred and is continuing; or

10.5 Restrictions

(a) Any notice of prepayment or cancellation given by a Party pursuant to Clause 10 (Prepayment and Cancellation) of the Framework Agreement shall be irrevocable, and, unless otherwise provided in a Finance Document, any such notice shall specify the date or dates on which the relevant prepayment or cancellation is to be made and the amount of that prepayment or cancellation.

(b) The Borrower shall not prepay or cancel all or any part of a Credit except at the times and in the manner expressly provided for in the Finance Documents.

(c) Any prepayment under a Finance Document shall be made together with payment of (i) accrued interest on the prepaid amount, (ii) outstanding fees, and (iii) the Prepayment Indemnity referred to in Clause 11.3 (Prepayment Indemnity) of the Framework Agreement.

(d) Any prepayment amount will be applied against the remaining instalments in inverse order of maturity.

(e) The Borrower may not re-borrow the whole or any part of a Credit which has been prepaid or cancelled.

11 ADDITIONAL PAYMENT OBLIGATIONS

11.1 Costs and expenses

11.1.1 If an amendment to any of the Finance Documents to which the Lender is party is required, the Borrower shall reimburse to the Lender for all costs (including legal fees) reasonably incurred in responding to, evaluating, negotiating or complying with that requirement.

11.1.2 The Borrower shall reimburse to the Lender all costs and expenses (including legal fees) incurred by it in connection with the enforcement or preservation of any of its rights under any Finance Document to which the Lender is party.

11.1.3 The Borrower shall pay directly or, if applicable, reimburse the Lender in case of an advance payment made by the Lender, the amount of all costs and expenses in connection with the transfer of funds to, or for the account of, the Borrower from Paris to any other place agreed with the Lender, as well as any transfer fees and expenses in connection with the payment of all sums due under a Credit.

11.2 Cancellation Indemnity under a Credit

If a Credit is cancelled in full or in part in accordance with the terms of Clauses 10.3 (Cancellation of a Credit by the Borrower) and/or 10.4 (Cancellation of a Credit by the Lender) paragraphs (a) and (b) of the Framework Agreement, the Borrower shall pay a cancellation indemnity computed at two point five percent (2.5%) on the cancelled amount of the Credit.

Each cancellation indemnity is payable on the Payment Date immediately following a cancellation of all or part of the Credit.

11.3 Prepayment Indemnity under a Credit

On account of any losses suffered by the Lender as a result of the prepayment of the whole or any part of a Credit in accordance with Clauses

10.1 (Voluntary prepayment under a Credit) or 10.2 (Mandatory prepayment under a Credit) of the Framework Agreement, the Borrower shall pay to the Lender an indemnity equal to the aggregate amount of:

(a) the Prepayment Compensatory Indemnity; and

(b) any costs arising out of the break of any interest rate hedging swap transactions put in place by the Lender in connection with the amount prepaid.

11.4 Taxes and duties

11.4.1 Registration costs

The Borrower shall pay directly, or, if applicable, reimburse the Lender in case of an advance made by the Lender, the costs of all stamp duty, registration and other similar taxes payable in respect of any Finance Document and any potential amendment to the Finance Documents to which the Lender is party.

11.4.2 Withholding Tax

The Borrower undertakes that all payments made to the Lender under the Finance Documents to which the Lender is party shall be free of any Withholding Tax in accordance with the interstate agreement entered into between the Republic of Serbia and the French Republic on February 25, 2019.

If a Withholding Tax is required by law, the Borrower undertakes to gross-up the amount of any such payment to such amount which leaves the Lender with an amount equal to the payment which would have been due if no payment of Withholding Tax had been required.

The Borrower shall reimburse to the Lender all expenses and/or Taxes for the Borrower’s account which have been paid by the Lender (if applicable), with the exception of any Taxes due in France.

11.5 Additional Costs

The Borrower shall pay to the Lender, within ten (10) Business Days of the Lender’s request, all Additional Costs incurred by the Lender as a result of: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) the compliance with any law or regulation which has come into force after the Signing Date.

In this Clause, “Additional Costs” means:

(a) any cost arising after the Signing Date out of one of the event referred to in the first paragraph of this Clause and not taken into account by the Lender to compute the financial conditions of a Credit; or

(b) any reduction of any amount due and payable under the Framework Agreement;

which is incurred or suffered by the Lender to the extent that it is attributable to the Lender having entered into the Finance Documents or funding or performing its obligations under any of the Finance Documents.

11.6 Currency indemnity

If any sum due by the Borrower under the Finance Documents to which the Lender is party, or any order, judgment or award given or made in relation to such a sum, has to be converted from the currency in which that sum is payable into another currency, for the purpose of:

(d) obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings,

the Borrower shall indemnify, within ten (10) Business Days of the Lender’s request and as permitted by law, the Lender against the amount of any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between: (A) the exchange rate used to convert the relevant sum from the first currency to the second currency; and (B) the exchange rate or rate(s) available to the Lender at the time of its receipt of that sum. This obligation to indemnify the Lender is independent of any other obligation of the Borrower under the Finance Documents to which the Lender is party.

The Borrower waives any right it may have in any jurisdiction to pay any amount due under the Finance Documents to which the Lender is party in a currency or currency unit other than that in which it is expressed to be payable.

11.7 Due dates

Any indemnity or reimbursement payable by the Borrower to the Lender under Clause 11 (Additional Payment Obligations) of the Framework Agreement is due and payable on the Payment Date immediately following the circumstances which have given rise to the relevant indemnity or reimbursement.

Notwithstanding the above, any indemnity to be paid in connection with a prepayment pursuant to Clause 11.3 (Prepayment Indemnity under a Credit) of the Framework Agreement is due and payable on the date of the relevant prepayment.

12 REPRESENTATIONS AND WARRANTIES

All the representations and warranties set out in this Clause 12 (Representations and warranties) are made by the Borrower for the benefit of the Lender on the Framework Agreement Signing Date.

All the representations and warranties in this Clause 12 (Representations and warranties) are also deemed to be made by the Borrower on the Signing Date of each Specific Agreement, on the date on which all of the conditions precedent listed in Part III and IV of Schedule 3 (Conditions precedent) of the Framework Agreement are satisfied, on the date of each Drawdown Request, on each Drawdown Date and on each Payment Date, except that the repeating representations contained in Clause 12.9 (No misleading information) of the Framework Agreement are deemed to be made by the

Borrower in relation to the information provided by the Borrower since the date on which the representation was last made.

12.1 Power and authority

The Borrower has the power to enter into, perform and deliver the Finance Documents and to perform all contemplated obligations. The Borrower has taken all necessary actions to authorise its entry into, performance and delivery of the Finance Documents and the transactions contemplated by those Finance Documents.

12.2 Validity and admissibility in evidence

All Authorisations required:

(a) to enable the Borrower to lawfully enter into, and exercise its rights and comply with its obligations under the Finance Documents; and

(b) to make the Finance Documents admissible in evidence in the courts of the jurisdiction of the Borrower or in arbitration proceedings as defined under Clause 19 (Governing Law, Enforcement and Choice of Domicile) of the Framework Agreement,

have been obtained and are in full force and effect, and no circumstances exist which could result in the revocation, non-renewal or modification, in whole or in part, of any such Authorisations.

12.3 Binding obligations

The obligations expressed to be assumed by the Borrower under the Finance Documents comply with all laws and regulations applicable to the Borrower in its jurisdiction and are legal, valid, binding and enforceable obligations which are effective in accordance with their written terms.

12.4 No filing or stamp taxes

Under the laws of the jurisdiction of the Borrower, it is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar taxes or fees be paid on or in relation to the Finance Documents or the transactions contemplated therein.

12.5 Transfer of funds

All amounts due by the Borrower to the Lender under the Finance Documents whether as principal or interest, late payment interest, Prepayment Indemnity, incidental costs and expenses or any other sum are freely transferable to France or to any other country.

This representation shall remain in full force and effect until full repayment of all sums due to the Lender. In the event that the repayment dates of a Credit are extended by the Lender, no further confirmation of this representation shall be necessary.

The Borrower shall obtain Euros necessary for compliance with this representation in due course.

Should any difficulty in respect of Xxxxxx’x right of conversion and free transfer of any sum under the Framework Agreement occur for any reason, including but not limiting to: (i) the coming into force of any new law or regulation, or any amendment to, or any change in the interpretation or application of any existing law or regulation; or (ii) compliance with any law or regulation made after the Signing Date; the Borrower will secure, without delay, all required certificates/confirmations from competent authorities (including National Bank of Serbia) in order to enable that all due sums under the Framework Agreement are freely convertible and transferable.

12.6 No conflict with other obligations

The entry into and performance by the Borrower of, and the transactions contemplated by, the Finance Documents do not conflict with any domestic or foreign law or regulation applicable to it, its constitutional documents (or any similar documents) or any agreement or instrument binding upon the Borrower or affecting any of its assets.

12.7 Governing law and enforcement

(a) The choice of French law as the governing law of the Finance Documents will be recognised and enforced by the courts and arbitration tribunals in the jurisdiction of the Borrower.

(b) Any judgment obtained in relation to the Finance Documents in a French court or any award by an arbitration tribunal will be recognised and enforced in the jurisdiction of incorporation of the Borrower.

12.8 No default

No Event of Default is continuing or is reasonably likely to occur.

No breach of the Borrower is continuing in relation to any other agreement binding upon it, or affecting any of its assets, which has, or is reasonably likely to have, a Material Adverse Effect.

12.9 No misleading information

All information and documents supplied by the Borrower to the Lender were true, accurate and up-to-date as at the date they were provided or, if appropriate, as at the date at which they are stated to be given and have not been varied, revoked, cancelled or renewed on revised terms, and are not misleading in any material respect as a result of an omission, the occurrence of new circumstances or the disclosure or non-disclosure of any information.

12.10 Pari passu ranking

The Lender’s claims under the Finance Documents to which the Lender is party rank at least pari passu with the claims of all the other unsecured and unsubordinated creditors of the Borrower.

12.11 Licit Origin of the funds and Prohibited Practices

The Borrower represents and warrants that:

(a) all the funds allocated to support the Program are or will be from the proceeds of the Credit(s) and the Co-Financing, pursuant to the “Law Approving the Budget of the Republic of Serbia for the year 2023” (Zakon o budžetu Republike Srbije za 2023. godinu, Official Gazette of the Republic of Serbia, no. 138/2022) and further laws approving the budget of the Republic of Serbia;

(b) the Program has not given rise to any Prohibited Practice.

12.12 No Material Adverse Effect

The Borrower represents and warrants that no event or circumstance which is likely to have a Material Adverse Effect has occurred or is likely to occur.

12.13 No immunity

If and to the extent that the Borrower may now or in future in any jurisdiction claim immunity for itself or its assets and to the extent that a jurisdiction grants immunity to the Borrower, the Borrower will not be entitled to claim for itself or any of its assets immunity from suit, execution, attachment or other legal process in connection with this Framework Agreement to the fullest extent permitted by the laws of such jurisdiction.

The Borrower does not waive any immunity in respect of any present or future

(i) “premises of the mission” as defined in the Vienna Convention on Diplomatic Relations signed in 1961, (ii) “consular premises” as defined in the Vienna Convention on Consular Relations signed in 1963, (iii) assets that cannot be in commerce, (iv) military property or military assets and buildings, weapons and equipment designated for defence, state and public security, (v) receivables the assignment of which is restricted by law, (vi) natural resources, common use items, grids in public ownership, river basin land and water facilities in public ownership, protected natural heritage in public ownership and cultural heritage in public ownership, (vii) real estate in public ownership which is, partly or entirely, used by the authorities of the Republic of Serbia, autonomous provinces or local self-government for the purpose of exercising their rights and duties; (viii) the state's, autonomous province’s or local government’s stocks and shares in companies and public enterprises, unless the relevant entity consented to the establishment of a pledge over such stocks or shares, (ix) movable or immovable assets of health institutions, unless a mortgage was established based on the government's decision, (x) monetary assets and financial instruments determined as financial collateral in accordance with the law regulating financial collateral including monetary assets and financial instruments which are pledged in accordance with such law or (xi) other assets exempt from enforcement by international law or international treaties.

13 UNDERTAKINGS

The undertakings in this Clause 13 (Undertakings) take effect on the Effective Date.

All of the undertakings set out in this Clause 13 (Undertakings) remain in full force and effect for as long as any amount is outstanding under the Finance Documents.

13.1 Compliance with laws and regulations

The Borrower shall comply:

(a) in all respects with all laws and regulations to which it and/or the Program is subject, particularly in relation to all applicable environmental protection, safety and labour laws and prevention and fight against Prohibited Practices; and

(b) with all of its obligations under the Finance Documents.

13.2 Authorisations

The Borrower shall promptly obtain, comply with and do all that is necessary to maintain in full force and effect any Authorisation required under any applicable law or regulation to enable it to perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability and admissibility in evidence of any Finance Document.

13.3 Implementation and preservation of the Program

The Borrower shall:

(a) implement the Program in accordance with the generally accepted safety principles and in accordance with technical standards in force; and

(b) maintain the Program in accordance with all applicable laws and regulations and in good operating and maintenance conditions, and use such assets in compliance with their purpose and all applicable laws and regulations.

13.4 Environmental and social responsibility

13.4.1 Implementation of environmental and social measures

In order to promote sustainable development, the Parties agree that it is necessary to promote compliance with internationally recognised environmental and labour standards, including fundamental conventions of the International Labour Organization (“ILO”) and the international environmental laws and regulations applicable in the Borrower’s jurisdiction.

13.4.2 Environmental and social (ES) complaints-management

(a) The Borrower (i) confirms that it has received a copy of the ES Complaints-Management Mechanism’s Rules of Procedure and has acknowledged its terms, in particular with respect to actions that may be taken by the Lender in the event that a third party lodges a complaint, and (ii) acknowledges that these ES Complaints-Management Mechanism’s Rules of Procedure

have, as between the Borrower and the Lender, the same contractually binding effect as this Framework Agreement.

(b) The Borrower expressly authorises the Lender to disclose to the experts (as defined in the ES Complaints-Management Mechanism’s Rules of Procedure) and to parties involved in the compliance review and/or conciliation processes, the Program Documents concerning environmental and social matters necessary for processing the environmental and social complaint, including, without limitation and, as applicable, those listed in Schedule 6 (Non-exhaustive list of environmental and social documents which the Borrower permits to be disclosed in connection with ES complaints-management mechanism’s rules of procedure).

13.5 Pari passu ranking

The Borrower undertakes (i) to ensure that the claims of the Lender under the Finance Documents rank at all times at least pari passu with the other present and future unsecured and unsubordinated obligations of the Borrower; (ii) not to grant prior ranking or guarantees to any other lenders except if the same ranking or guarantees are granted by the Borrower in favour of the Lender, if so requested by the Lender.

13.6 Inspections

The Borrower hereby authorizes the Lender and its representatives to carry out inspections the purpose of which will be to assess the implementation of the Program on technical, financial and institutional aspects.

The Borrower shall co-operate and provide all reasonable assistance and information to the Lender and its representatives when carrying out such inspections, the timing and format of which shall be determined by the Lender following consultation with the Borrower.

13.7 Program evaluation

The Borrower acknowledges that the Lender may carry out, or procure that a third party carries out on its behalf, an evaluation of the Program. This evaluation will be used to produce a performance report containing information on the Program, such as: total amount and duration of the Credit, objectives of the Program, expected and actual performance of the Program, assessment of its relevance, efficiency, impact and viability/sustainability.

The main objective of the evaluation will be the articulation of credible and independent judgement on the key issues of relevance, implementation (efficiency) and effects (effectiveness, impact and sustainability).

Evaluators will need to take into account in a balanced way the different legitimate points of view that may be expressed and conduct the evaluation impartially.

The Borrower will be involved as closely as possible in the evaluation, from the drafting of the Terms of Reference to the delivery of the final report.

The Borrower agrees on the publication of this performance report, in particular, on the Lender’s Website.

13.8 Financial Sanctions Lists and Embargo

The Borrower shall undertake:

(a) that no funds or economic resources of the Program are made available, directly or indirectly, to or for the benefit of persons, groups or entities listed on any Financial Sanctions List; and

(b) not finance, acquire or provide any supplies or intervene in sectors which are subject to an Embargo by the United Nations, the European Union or France.

13.9 Licit Origin, absence of Prohibited Practices

The Borrower undertakes:

(a) to use the funds of the Credit in accordance with the AFD Group's policy to prevent and combat Prohibited Practices as available on its Website;

(b) to ensure that the funds, other than those of State origin, used for the implementation of the Program will not be of an Illicit Origin;

(d) as soon as it becomes aware of, or suspects, any Prohibited Practice, to inform the Lender without any delay;

(e) in the event referred to in paragraph (d) above, or at the Lender’s request if the Lender suspects that a Prohibited Practice has occurred, take all necessary actions to remedy the situation in a manner satisfactory to the Lender and within the time period determined by the Lender; and

(f) to notify the Lender without delay if it has knowledge of any information which leads it to suspect any Illicit Origin of any funds used for the implementation of the Program.

13.10 Program Monitoring

The Borrower and the Lender, together with the Co-Financier(s), shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 1A (Program Description).

13.11 Visibility and Communication

The Borrower shall implement visibility and communication actions related to the implementation of the Program in accordance with the terms of the Visibility and Communication Guide, and acknowledges having fully read and understood the aforementioned guide.

According to the Visibility and Communication Guide, the Program is subject to communication and visibility obligations of level 1.

14 INFORMATION UNDERTAKINGS

The undertakings in this Clause 14 (Information Undertakings) take effect on the Effective Date. All of the undertakings in this Clause 14 (Information Undertakings) remain in full force and effect for as long as any amount is outstanding under the Finance Documents.

14.1 Financial Information

The Borrower shall supply to the Lender any information that the Lender may reasonably require in relation to the Borrower’s foreign and domestic debt as well as the status of any guaranteed loans.

14.2 Monitoring Reports

Prior to the exchange of views referred to in Clause 13.10 (Program Monitoring), the Borrower shall furnish to the Lender for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Lender shall reasonably request.

Without limitation upon the above-paragraph, the Borrower shall promptly inform the Lender of any situation that would have the effect of materially reversing the objectives of the Program or any action taken under the Program including any action specified in Schedule 1A (Program Description).

14.3 Co-Financing

The Borrower shall promptly inform the Lender of any cancellation (in whole or in part) or any prepayment by a Co-Financier.

14.4 Information - miscellaneous

The Borrower shall supply to the Lender:

(a) promptly upon becoming aware of them, details of any event or circumstance which is or may be an Event of Default or which has or may have a Material Adverse Effect, the nature of such an event and all the actions taken or to be taken to remedy it (if any);

(b) promptly, details of any decision or event which might affect the organisation, completion or operation of the Program;

15 EVENTS OF DEFAULTS UNDER THE CREDITS

15.1 Events of Default

Each of the events or circumstances set out in this Clause 15.1 (Events of Default) is an Event of Default under a Credit, or Credits if applicable.

(a) Payment Default

The Borrower does not pay on the due date any amount payable by it under a Finance Document in the manner required under the Finance Documents. However, without prejudice to Clause 6.3 (Late payment and default interest) of the Framework Agreement, no Event of Default will occur under this paragraph (a) if such payment is made in full by the Borrower within five (5) Business Days of the due date.

(b) Undertakings and Obligations

The Borrower does not comply with any term of the Finance Documents, including, without limitation, any of the undertakings it has given pursuant to Clause 13 (Undertakings) of the Framework Agreement and Clause 14 (Information Undertakings) of the Framework Agreement.

Save for the undertakings given pursuant to Clauses 13.4 (Environmental and social responsibility) and Clause 13.9 (Licit Origin, absence of Prohibited Practices)) of the Framework Agreement in respect of which no grace period is permitted, no Event of Default will occur under this paragraph (b) if the non-compliance is capable of remedy and is remedied within five (5) Business Days of the earlier of

(A) the date of the Lender’ notice of failure to the Borrower; and (B) the Borrower becoming aware of the breach, or within the time limit determined by the Lender in the case referred to in subparagraph (e) of Clause 13.9 (Licit Origin, absence of Prohibited Practices).

A representation or warranty made by the Borrower in the Finance Documents, including under Clause 12 (Representations and warranties) of the Framework Agreement, or in any document delivered by or on behalf of the Borrower under or in relation to the Finance Documents, is incorrect or misleading when made or deemed to be made.

(d) Cross Default

(i) Subject to paragraph (iii), any Financial Indebtedness of the Borrower is not paid on its due date or, if applicable, within any grace period granted pursuant to the relevant documentation.

(ii) Subject to paragraph (iii), a creditor has cancelled or suspended its commitment towards the Borrower pursuant to any Financial Indebtedness, or has declared the Financial Indebtedness due and payable prior to its specified maturity, or requested prepayment in full of the Financial Indebtedness, in each case, as a result of an event of default or any provision having a similar effect (howsoever described) pursuant to the relevant documentation.

(iii) No Event of Default will occur under this Clause 15.1(d) if the relevant amount of Financial Indebtedness or the commitment for Financial Indebtedness falling within paragraphs (i) and (ii) above is less than thirty million euros (EUR 30,000,000) (or its equivalent in any other currency(ies)).

(e) Unlawfulness

It is or becomes unlawful for the Borrower to perform any of its obligations under the Finance Documents.

(f) Material adverse change

Any event (including a change in the political situation of the country of the Borrower) or any measure which is likely, according to the Lender’s opinion, to have a Material Adverse Effect occurs or is likely to occur.

(g) Withdrawal or suspension of the Program Any of the following occurs:

(i) the implementation of the Program is suspended for a period exceeding six (6) months; or

(ii) the Borrower withdraws from the Program.

(h) Authorisations

Any Authorisation required for the Borrower in order to perform or comply with its obligations under the Finance Documents or its other material obligations under any Program Documents or required in the ordinary course of the Program is not obtained within the required timeframe or is cancelled or becomes invalid or otherwise ceases to be in full force and effect.

(i) Judgments, rulings or decisions having a Material Adverse Effect

Any judgment or arbitral award or any judicial or administrative decision affecting the Borrower has or is reasonably likely, according to the opinion of the Lender, to have a Material Adverse Effect, occurs or is likely to occur.

(j) Suspension of free convertibility and free transfer

Free convertibility and free transfer of any of the amounts due by the Borrower under the Finance Documents, or any other facility provided by the Lender to the Borrower or any other borrower of the jurisdiction of the Borrower, is challenged and the actions taken in accordance with Clause 12.5 are not satisfactory to the Lender.

(k) Event of default under a Credit granted by the Lender to the Borrower under the Framework Agreement

An event of default occurs under a finance document entered into in relation to another Credit made available by the Lender to the Borrower in accordance with the Framework Agreement.

15.2 Acceleration

On and at any time after the occurrence of an Event of Default, the Lender may, without providing any formal demand or commencing any judicial or extra-judicial proceedings, by written notice to the Borrower:

(a) cancel the Available Credit under the relevant Credit, or Credits if applicable, which will be immediately reduced to zero; and/or

(b) declare that all or part of the relevant Credit, or Credits if applicable, together with any accrued or outstanding interest and all other amounts outstanding under the Finance Documents, are immediately due and payable.

Without prejudice to the above, in the event that an Event of Default occurs as set out in Clause 15.1 (Events of Default) of the Framework Agreement, the Lender reserves the right to, upon written notice to the Borrower, (i) suspend or postpone any Drawdown under the relevant Credit, or Credits if applicable; and/or (ii) suspend the finalisation of any Finance Document under the Framework Agreement or the agreements relating to other possible financial offers which have been notified by the Lender to the Borrower; and/or (iii) suspend or postpone any drawdown under any credit granted by the Lender to the Borrower under the Framework Agreement or any loan agreement entered into between the Borrower and the Lender.

If any drawdowns are postponed or suspended by a Co-Financier under an agreement between such Co-Financier and the Borrower, the Lender reserves the right to postpone or suspend any Drawdowns under the relevant Credit.

15.3 Notification of an Event of Default

In accordance with Clause 14.4 (Information - miscellaneous) of the Framework Agreement, the Borrower shall promptly notify the Lender upon becoming aware of any event which is or is likely to be an Event of Default and inform the Lender of all the measures contemplated by the Borrower to remedy it.

16 ADMINISTRATION OF CREDITS

16.1 Payments

All payments received by the Lender under the Finance Documents shall be applied towards the payment of expenses, fees, interest, principal amounts or any other sum due under the Finance Documents in the following order:

(a) incidental costs and expenses;

(b) fees;

(d) accrued interest;

(e) principal repayments.

Any payments received from the Borrower shall be applied first in or towards payment of any sums due and payable under a Credit or under other loans extended by the Lender to the Borrower, should it be in the Lender’s interest to apply these sums to such other loans, in the order set out above.

16.2 Set-off

Without prior approval of the Borrower, the Lender may, at any time, set-off due and payable obligations owed by the Borrower against any amounts held by the Lender on behalf of the Borrower or any due and payable obligations owed by the Lender to the Borrower. If the obligations are in different currencies, the Lender may convert either obligation at the prevailing currency exchange rate for the purpose of the set-off.

All payments made by the Borrower under the Finance Documents shall be calculated and made without set-off. The Borrower is prohibited from making any set-off.

16.3 Business Days

Without prejudice to the calculation of the Interest Period which will remain unchanged, any payment is due on a day which is not a Business Day, the due date for that payment shall be the next Business Day if the next Business Day is in the same calendar month, or the preceding Business Day if the next Business Day is not in the same calendar month.

16.4 Currency of payment

The currency of each amount payable under a Finance Document is Euros, except as provided in Clause 16.6 (Place of payment) of the Framework Agreement.

16.5 Day count convention

Any interest, fee or expense accruing under a Finance Document will be calculated on the basis of the actual number of days elapsed and a year of three hundred and sixty (360) days in accordance with European interbank market practice.

16.6 Place of payment

(a) Any funds to be transferred by the Lender to the Borrower under the Credit will be paid to the bank account specifically designated for such purpose by the Borrower, provided that the Lender has given its prior consent on the selected bank.

(b) Any payment to be made by the Borrower to the Lender shall be paid on the due date by no later than 11:00 am (Paris time) to the following bank account:

RIB Code: 00000 00000 00000040235 03

IBAN Code: XX00 0000 0000 0000 0000 0000 000

Banque de France SWIFT code (BIC): XXXXXXXXXXX

opened by the Lender at the Banque de France (head office/main branch) in Paris or any other account notified by the Lender to the Borrower.

(c) The Borrower shall request from the bank responsible for transferring any amounts to the Lender that it provides the following information in any wire transfer messages in a comprehensive manner and in the order set out below:

(i) Principal: name, address, bank account number

(ii) Principal’s bank: name and address

(iii) Reference: name of the Borrower, name of the Program Phase, reference number of the Framework Agreement and the relevant Specific Agreement.

(d) All payments made by the Borrower shall comply with this Clause 16.6 (Place of payment) in order for the relevant payment obligation to be deemed discharged in full.

16.7 Payment Systems Disruption

If the Lender determines (in its discretion) that a Payment Systems Disruption Event has occurred or the Borrower notifies the Lender that a Payment Systems Disruption Event has occurred, the Lender:

(a) may, and shall if requested by the Borrower, enter into discussions with the Borrower with a view to agreeing any changes to the operation and administration of the Credit as the Lender may deem necessary in the circumstances;

(b) shall not be obliged to enter into discussions with the Borrower in relation to any of the changes mentioned in paragraph (a) above if, in its opinion, it is not practicable to do so in the circumstances and, in any event, it has no obligation to agree to such changes; and

(c) shall not be liable for any cost, loss or liability arising as a result of its taking, or failing to take, any actions pursuant to this Clause 16.7 (Payment Systems Disruption).

17 MISCELLANEOUS

17.1 Certifications and determinations

In any litigation or arbitration arising out of or in connection with any Finance Document, entries made in the accounts maintained by the Lender are prima facie evidence of the matters to which they relate.

Any certification or determination by the Lender of a rate or amount under a Finance Document will be, in the absence of manifest error, conclusive evidence of the matters to which it relates.

17.2 Assignment

The Borrower may not assign or transfer, in any manner whatsoever, all or any of its rights and obligations under a Finance Document without the prior written consent of the Lender.

The Lender may assign or transfer any of its rights and/or obligations under the Finance Documents to any other third party and may enter into any sub- participation agreement relating thereto. The Lender shall promptly inform the Borrower if such assignment or transfer occurs.

17.3 Confidentiality - Disclosure of information

(a) Each Party shall not disclose the content of any Finance Document to any third party without the prior consent of the other Party except to any person to whom the Party has a disclosure obligation under any applicable law, regulation or judicial ruling.

(b) Furthermore, the Lender may disclose any information or documents in relation to the Program to: (i) its auditors, rating agencies, legal advisers or supervisory bodies; (ii) any person or entity to whom the Lender may assign or transfer all or part of its rights or obligations under the Finance Documents; and (iii) any person or entity for the purpose of taking any protective measures or preserving the rights of the Lender under the Finance Documents and (iv) any Co-Financier.

(i) to exchange with the French Republic for publication on the French government website pursuant to any request from International Aid Transparency Initiative; and

(ii) to publish on the Lender’s Website;

information relating to the Program and its financing as listed in Schedule 5 (Information that may be published on the French Government Website and the Lender’s Website).

17.4 Limitation

The statute of limitations of any claims under the Finance Documents shall be ten (10) years, except for any claim of interest due under the Finance Documents.

17.5 Hardship

Each Party hereby acknowledges that the provisions of article 1195 of the French Code civil shall not apply to it with respect to its obligations under the Agreement and it shall be not entitled to make any claim under article 1195 of the French Code civil.

17.6 Language

The language of the Framework Agreement is English. If the Framework Agreement is translated into another language, the English version shall

prevail in the event of any conflicting interpretation or in the event of a dispute between the Parties.

All notices given or documents provided under, or in connection with, any Finance Document shall be in English.

AFD may request that a notice or document provided under, or in connection with, a Finance Document which is not in English is accompanied by a certified English translation, in which case, the English translation shall prevail unless the document is a statutory document of a company, legal text or other official document.

17.7 Partial invalidity

If, at any time, a term of a Finance Document is or becomes illegal, invalid or unenforceable, neither the validity, legality nor enforceability of the remaining provisions of such Finance Document will in any way be affected or impaired.

17.8 No waiver

Failure to exercise, or a delay in exercising, on the part of AFD of any right under a Finance Document shall not operate as a waiver of that right.

Partial exercise of any right shall not prevent any further exercise of such right or the exercise of any other right or remedy under the applicable law.

The rights and remedies of AFD under a Finance Document are cumulative and not exclusive of any rights and remedies under the applicable law.

17.9 Legal effect

The Schedules annexed to the Framework Agreement and the recitals hereof form part of the Framework Agreement and have the same legal effect.

The Schedules of the Specific Agreement(s) will form part of the Specific Agreement(s) and have the same legal effect.

17.10 Entire agreement

As of the Framework Agreement Signing Date, the Framework Agreement represents the entire agreement between the Parties in relation to the matters set out herein, and supersedes and replaces all previous documents, agreements or understandings which may have been exchanged or communicated as part of the negotiations in connection with the Framework Agreement.

17.11 Amendments

No amendment may be made to the Framework Agreement unless expressly agreed in writing between the Parties.

18 NOTICES

18.1 Communications in writing and addresses

Any notice, request or other communication to be given or made under or in connection with the Framework Agreement shall be given or made in writing and, unless otherwise stated, may be given or made by fax or by letter sent by the post office to the address and number of the relevant Party set out below:

For the Borrower:

MINISTRY OF FINANCE

Address: 00 Xxxxx Xxxxxx Xx. 11000 Belgrade Telephone: x000 00 000 00 00

Facsimile: x000 00 0000-000 E-mail: xxxxxxx@xxxx.xxx.xx

Attention: Mr. Xxxxxx Xxxx, Minister of Finance For the Lender:

AFD – BELGRADE - WESTERN BALKANS REGIONAL OFFICE

Address: Xxxx Xxxxxx 00, 00000 Xxxxxxxx, Xxxxxxxx xx Xxxxxx Telephone: x000 00 00 00 000

Attention: Head of Western Balkans Regional Office With a copy to:

AFD – PARIS HEAD OFFICE

Address: 0, xxx Xxxxxx Xxxxxxx – 00000 Xxxxx Xxxxx 00, Xxxxxx Telephone: + 00 0 00 00 00 00

Attention: Head of Europe, Middle East and Asia Department

or such other address, fax number, department or officer as one Party notifies to the other Party.

18.2 Delivery

Any notice, request or communication made or any document sent by a Party to the other Party in connection with the Framework Agreement will only be effective:

(a) if by fax, when received in a legible form; and

(b) if by letter sent though the post office, when delivered to the correct address, and, where a particular person or a department is specified as part of the address details provided under Clause 18.1 (Communications in writing and addresses), if such notice, request or communication has been addressed to that person or department.

18.3 Electronic communications

(a) Any communication made by one person to another under or in connection with the Framework Agreement may be made by electronic mail or other electronic means if the Parties:

(i) agree that, unless and until notified to the contrary, this is to be an accepted form of communication;

(ii) notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and

(iii) notify each other of any change to their address or any other such information supplied by them.

(b) Any electronic communication made between the Parties will be effective only when actually received in a readable form.

19 GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE

19.1 Governing Law

The Framework Agreement is governed by French law.

19.2 Arbitration

Any dispute arising out of or in connection with the Framework Agreement shall be referred to and finally settled by arbitration under the Rules of Conciliation and Arbitration of the International Chamber of Commerce applicable on the date of commencement of arbitration proceedings, by one or more arbitrators to be appointed in accordance with such Rules.

The seat of arbitration shall be Paris and the language of arbitration shall be English.

This arbitration clause shall remain in full force and effect if the Framework Agreement is declared void or is terminated or cancelled and following expiry of the Framework Agreement. The Parties’ contractual obligations under the Framework Agreement are not suspended if a Party initiates legal proceedings against the other Party.

The Parties expressly agree that, by signing the Framework Agreement, the Borrower irrevocably waives all rights of immunity in respect of jurisdiction or performance on which it could otherwise rely.

For the avoidance of doubt, this waiver includes a waiver of immunity from:

(i) Any suit or legal, judicial or arbitral process arising out of, in relation to or in connection with this Agreement;

(ii) Giving of any relief by way of injunction or order for specific performance or for the recovery of assets or revenues;

(iii) Any effort to confirm, recognize, enforce or execute any decision, settlement, award judgment, execution order or, in an action in rem, any effort for the arrest, for the arrest, detention or sale of any of its assets and revenues that result from any arbitration, or any legal, judicial or administrative proceedings.

The Borrower does not waive any immunity in respect of any present or future

Without prejudice to any applicable law, for the purposes of serving judicial and extrajudicial documents in connection with any action or proceedings referred to above, the Borrower irrevocably elects domicile at the address set out in Clause 18.1 (Communications in writing and addresses) for service of process, and AFD chooses the address “AFD SIEGE” set out in Clause 18.1 (Communications in writing and addresses) for service of process.

Made in three (3) originals, one (1) for the Lender and two (2) for the Borrower, in Belgrade, Republic of Serbia, on 26 June 2023.

THE BORROWER

REPUBLIC OF SERBIA

Represented by:

Name: Xxxxxx Xxxx

Xxxxxxxx: Deputy Prime Minister and Minister of Finance

THE LENDER

AGENCE FRANCAISE DE DEVELOPPEMENT

Represented by :

Name: Xxxxxxxxx Xxxxxxxxxx

Xxxxxxxx: Head of Western Balkans regional office

Co-signatory, His Excellency Mr. Xxxxxx Xxxxxxx, Ambassador of France

SCHEDULE 1A – PrOGRAM DESCRIPTION

SERBIA GREEN AGENDA PROGRAMMATIC DEVELOPMENT POLICY OPERATION

Context

Serbia has committed under the Paris Agreement to reduce its GHG emissions by 33.3% by 2030 compared to 1990 levels, as stated in its revised Nationally Determined Contribution (NDC), submitted in August 2022 to the UNFCCC Secretariat. Due to the predominance of the energy sector in the country's GHG emissions, the NDC insists on increasing the share of renewable energy, improving energy efficiency and modernizing industrial processes as key objectives for achieving this target.

Serbia has also committed to implement and follow a multi-dimensional Green Agenda Roadmap, based on the European Green Deal, adopted by the Western Balkans Heads of State at the EU-Balkans Summit in Sofia on 10 November 2020. This commitment was reaffirmed at the Brdo Summit on 6 October 2021, where all States in the region have committed to the Green Agenda Action Plan.

In addition, as a member of the Energy Community (EC) - Serbia has joined the EC from its inception in 2006 – the country is committed to setting energy and climate targets for 2030; non-EU member States of the EC Treaty are obliged to adopt the EU Acquis in the field of energy standards and regulations.

In the energy sector, Serbia adopted in April 2021 the Law on Use of Renewable Energy (RE) Sources and the Law on Energy Efficiency and Rational Use of Energy in order to increase renewable electricity production save energy and reduce the environmental impact of the energy sector. Although this package of energy laws is fundamental for the convergence towards the EU Acquis, efforts in the sector need to be continued, in order to foster transparency and competitiveness of the energy market, and to allow a better penetration of RE. In addition, further reforms are expected in the energy efficiency sector, especially in the buildings segment.

The Ministry of Mining and Energy (MoME) is in the process of the preparation of the Integrated National Energy and Climate Plan up to 2030 with the vision up to 2050 (NECP), and of the new Energy Sector Development Strategy up to 2040 with the projections up to 2050 (ESDS). These documents will present the new Serbian energy policy and new targets for RES and energy efficiency in 2030. The target for GHG emission reduction in these documents will be the same as it is in the revised Serbian NDC (adopted by Serbian Government in August 2022) – 40.3 % with LULUCF compared to 1990 (or 33.3% without LULUCF compared with 1990). The draft NECP is under revision. The revised draft of NECP will be presented on the public consultations, which will be organized in the next period. The NECP and the new ESDS will be adopted by the end of 2023.

In the environmental field, Serbia adopted the Framework Law for Climate Change in March 2021, which establishes the legal framework for the establishment of a monitoring, reporting and verification (MRV) system for GHG emissions, both at the facility and institutional levels. Several implementing decrees (by-laws) still need to be adopted to ensure the effective implementation of the climate law.

Concerning air quality, Serbia has a legal framework on air protection, with the adoption in 2009 of the Law on Air Protection: the National Air Protection Program,

which aims to translate the Serbian government's orientations into concrete public action measures, is in the process of being adopted.

In terms of waste management, the Law on Waste Management (2009) provides the legal basis for waste management in Serbia, which is preparing to align its legislation with that of the European Union with the adoption of the new National Waste Management Program (NWMP) 2022-2031 in February 2022 and its Action Plan (2022-2024) in May 2022, prepared with EU support.

Program

In this context, the Serbian Government has requested financial and technical support from AFD, the World Bank (WB) and KfW to support the implementation of its Green Agenda roadmap in a programmatic, multi-year and multi-sectoral approach. The present program and related loans are structured to meet this request. They will support the development and strengthening of the regulatory and institutional framework of Serbia on the different pillars of the Green Agenda roadmap.

The three financial institutions (AFD, WB and KfW) and the Government of the Republic of Serbia have developed a detailed matrix (below) that set public policy objectives in three areas: climate finance, clean energy transition and environment:

▪ First pillar (Prior actions #1 to #3): it aims to support the Serbian government in its ambitions to increase public investment expenditure directed towards the environment and the fight against climate change. This pillar has three main components: (i) transparency of public expenditure and introduction of a methodology for classifying "green" expenditure; (ii) assessment and management of budgetary risks related to climate hazards; (iii) estimation of climate co-benefits of public investments.

▪ Second pillar (Prior actions #4 to #7): it provides support for reforms in the fields of renewable energy, energy efficiency and the fight against energy poverty.

▪ Third pillar (Prior actions #8 and #9): it covers two critical areas of action for the alignment of Serbian legislation with the EU Acquis, namely (i) the waste sector and (ii) air quality.

The completion of the Prior Actions (PAs) in the Matrix is a condition for the disbursement of the First Credit and the Indicative Triggers (IT) are a basis for future PAs for the Second Credit, which will be confirmed and completed if necessary in dialogue with the Ministries. The progress toward the objectives set as PAs and ITs, as well as the commitment from Government of the Republic of Serbia to reach the quantified targets (vs. baseline in 2020), will be discussed in formalized working groups and continuous discussion with the Serbian authorities.

The Matrix of the Program is presented below.

Prior actions and Triggers		Results
Prior Actions under DPF 1	Triggers for DPF 2	Indicator Name	Baseline	Target
Pillar I - Program Development Objective A: Better align fiscal management with the climate-change agenda
Prior Action #1: The Borrower has introduced the legal obligation to publish in- year budget execution information (covering the first six and nine months of budget execution), with functional and administrative breakdowns as in the original budget, to increase transparency in budgetary expenditures, including on environment and climate related activities, as evidenced by amendments to the Budget System Law, duly published in the Borrower’s Official Gazette No. 138, on December 12, 2022.	Trigger #1: The Borrower introduced budget tagging of “green” expenditures by enacting amendments to the Budget System Law, Article 35, related to budgetary instructions, to add as part of annual budgetary instructions the new methodology for classification of climate change and environment protection expenditures, and Article 79 related to the content of the final account, to introduce reporting of green expenditures.	Results Indicators #1: In-year reports on central government’s budget execution published	No (2022)	Yes, two in- year reports (2023)
Prior Action #2: The Borrower, pursuant to the Methodology for Fiscal Risk Monitoring, developed fiscal risk models to quantify fiscal risks over the medium-term, as included in the Fiscal Strategy, and introduced the obligation to produce in-year and annual fiscal risk reports, as evidenced by Government Decision 05 No. 40-9575/2021, duly published in the Borrower’s Official Gazette No. 99, dated October 22, 2021.	Trigger #2: The Borrower has introduced analysis and estimates of the possible fiscal impact of disasters-related events based on fiscal risks models and methodology starting with the 2024 Fiscal Strategy, based on amendments to the Budget System Law related to the content of the Fiscal Strategy.	Results Indicators #2: The borrower started publishing the assessments of fiscal risks related to natural disasters in the Fiscal Strategy	No (2022)	Yes (2024)
Prior Action #3: The Borrower has introduced additional environmental and climate-related criteria to evaluate public investment projects, submitted by Budget	Trigger #3: The Borrower has developed a regulatory framework to measure the climate co-benefits of approved public investment projects in line with	Results Indicators #3: Share of environment and climate change related projects in total capital	n.a. (2021)	15 percent (2024)

Prior actions and Triggers		Results
Beneficiaries to the MoF for financing from the Government’s budget, and prioritize those public investment projects with positive impact on the environment and climate change, as evidenced by the amendments to the Decree on Management of Capital Projects, duly published in the Borrower’s Official Gazette No. 139, dated December 16, 2022.	commitments under the Low-Carbon Development Strategy and the National Climate Change Adaptation Program.	budget
Pillar II – Program Development Objective B: Accelerate the clean energy transition
Prior Action #4: The Borrower, pursuant to the Law on the Use of Renewable Energy Sources, has (i) enabled implementation of auctions for renewable energy capacity, as evidenced by (a) the Decree on market premium model agreement (Decree 05 No. 110-9353/2021-1), and (b) the Decree on market premiums and feed-in tariff (Decree 05 No. 110-9352/2021-1), both duly published in the Borrower’s Official Gazette No. 112/2021, dated November 26, 2021; and (ii) introduced a simplified registration procedure for prosumers, as evidenced by the Decree on the criteria, conditions, and manner of calculating mutual financial claims between self-consumers and suppliers (Decree 5 No. 110-7592/2021-2) duly published in the Borrower’s Official Gazette No. 83, dated August 27, 2021.	Trigger #4 (i): The Borrower has updated the regulatory framework for implementation of auctions for renewable energy capacity, as evidenced by (a) the Decree which regulates balance responsibility for renewable energy producers, and (b) the Three-year plan for auctions for renewable energy capacity. Trigger #4 (ii): The Borrower has developed the policy framework with regard to green hydrogen.	Results Indicators #4: MW of cumulative renewable energy capacity procured through auctions.	0 (2021)	400 MW (2024)

Prior actions and Triggers

Results

Prior Action #5: The Borrower has revised the Rulebook on Internal Organization and Job Systematization (Rulebook No. 110-00- 00085/2021-08, dated October 7, 2021) to enable the Energy Efficiency Administration to scale up programs for residential clean energy, as evidenced by the Government Decision 05 No. 110-10364/2021, dated November 10, 2021.

Trigger #5(i): The Borrower has institutionalized a predictable and transparent multi-year funding mechanism for the EEA’s programs.

Trigger #5(ii): The Borrower has adopted secondary legislation that enables licensing of energy auditors and the adoption of energy audit methodology for the entities defined by the Law on Energy Efficiency and Rational Use of Energy of 2021.

Results Indicator #5:

Financing mobilized per year for investment in residential energy efficiency by the programs of the MoME.

US$ 0m (2020)

US$ 25m (2024)

Prior Action #6: The Borrower, pursuant to the Energy Law and in order to promote transparent, and non-discriminatory access to the distribution grid for renewable energy prosumers and electricity retail service providers, has separated the Borrower-owned distribution system operator (“EPS Distribucija Ltd. Belgrade”) from the Borrower-owned power company (“PE Elektroprivreda Srbije”), by establishing and licensing a separate, and independent Borrower-owned legal entity (“Elektrodistribucija Srbije Ltd. Belgrade”), as evidenced by the Consolidated text of the Decision on the Incorporation of the “Elektrodistribucija Srbije Ltd. Belgrade”, No. 2460800-08.01-183456/1-22, dated April 28,

2022, notarized under certification No. UOP-T 12-2022, dated July 7, 2022.

Trigger #6 (i): The Borrower has approved the transformation of the power company “PE Elektroprivreda Srbije” into a joint-stock company.

Trigger #6 (ii): The Borrower, through the power company ”PE Elektroprivreda Srbije”, has developed GHG emission monitoring plans, for the purpose of measurement and reporting of carbon emissions at key “PE Elektroprivreda Srbije” power plants and other energy facilities, pursuant to the provisions of the Law on Climate Change.

Results Indicator #6:

a) The distribution system operator is fully unbundled from generation and supply activities.

b) Percent of power plant output with approved carbon emissions monitoring system.

o (2021)

(2021)

es (2024)

(2024)

Prior Action #7 The Borrower: i) has expanded the benefits coverage for energy-

Trigger #7 (i) The Borrower has (a) adopted further improvements to secondary

Results Indicator #7:

Prior actions and Triggers

Results

vulnerable customers, as evidenced by the Decree on Energy Vulnerable Customers (Decree 05 No. 110-9890/2022-1), duly published in the Borrower’s Official Gazette No. 137/2022, dated December 9, 2022; and

(ii) through its Council of the Energy Agency, has approved an increase of the electricity tariff for guaranteed supply to achieve sustainable tariff levels over the medium term, as evidenced by (a) Council of the Energy Agency of the Republic of Serbia Decision No. 487/2022-D-02/1, dated July 28, 2022, duly published in the Borrower’s Official Gazette No. 83/2022, dated July 28, 2022; and (b) Decision No. 791/2022-D-02/1, dated November 28, 2022, duly published in the Borrower’s Official Gazette No. 131/2022, dated November 29, 2022.

legislation on energy-vulnerable consumers; and (b) approved the commensurate budget for supporting the energy vulnerable customers.

Trigger #7 (ii) The Borrower through its Council of the Energy Agency has implemented the next phase of electricity tariff reform.

hare of households receiving rebates to their energy bills under the protection program for Energy Vulnerable.

ercent increase in the average electricity price for customers entitled to a guaranteed supply at regulated prices (households and small- scale customers).

.7%

(2021)

.4%

(2021)

% (2024)

+TBD% (2024)

Pillar III – Program Development Objective C: Align with European Union standards on environment and climate action

Prior Action #8: The Borrower has aligned national policy and legislation with the EU Waste Framework Directive, as evidenced by the (i) adoption of the National Waste Management Program and Action Plan through Government Decision 05 No. 353- 588/2022-1, duly published in the Borrower’s Official Gazette No. 12/2022, dated February 1, 2022, and (ii) submission to the Parliament of the Amendment to the Law on Waste

Management, through Government notice 05 No. 011-10810/2022-2, dated December 30,

Trigger #8: The Borrower has adopted the National Sludge Management Program and Action plan that would subsequently lead to adoption of the legislation/regulations in line with the relevant EU sludge legislation; and, the amendments to the Law on packaging and packaging waste with view to achieving the goals of reuse and recycling of packaging waste through introduction of the deposit system and other waste sector economic measures.

Results Indicator #8:

a) Accessibility of the population to sanitary landfills in the Republic of Serbia;

b) Number of unsanitary landfills under remediation.

(a) 42%

(2021)

(b) 0 (2020)

(a)

(2024)

(b) 3 (2024)

Prior actions and Triggers		Results
2022.
Prior Action #9: The Borrower has aligned national policy and legislation with the EU National Emissions Ceiling Directive and the Air Quality Framework Directive, as evidenced by adoption of the Air Protection Program in the Republic of Serbia for the period from 2022 to 2030 with an Action Plan, including specific interventions to address emissions from medium combustion plants, duly published in the Borrower’s Official Gazette No. 140, dated December 22, 2022.	Trigger #9: The Borrower has adopted the Amendment to the Law on Industrial Pollution Prevention and Control (IPPC) by strengthening the reference to Best Available Techniques (BAT) and to Integrated Permits, and ensuring adequate level of coordination between competent authorities for addressing industrial pollution.	Results Indicator #9: Share of medium combustion plants (MCPs) with a thermal power from 1 to 50 MW out of the total number of MCPs registered in the National Register of Pollution Sources database, compliant with EU Directive 2015/2193 on the limitation of emissions of certain pollutants into the air from medium combustion plants.	0 (2020)	30% (2024)
	Trigger #10: The Borrower has adopted additional bylaws on compilation of GHG inventory including the: i) the Rulebook on the content of GHG Inventory and Report on GHG Inventory ; and ii) the Regulation on types of data, bodies and organizations and other natural and legal persons that submit data for the preparation of the National Inventory of Greenhouse Gases, that will enable the operationalization of a national MRV IT platform as well as the GHG permitting system.

SCHEDULE 1B – FINANCING PLAN

	Contemplated amount for the financing of the First Program Phase	Contemplated indicative amount for the financing of the Second Program Phase
AFD	EUR 135,000,000	EUR 135,000,000
Co-Financiers
IBRD	EUR 149,900,000	USD 160,000,000
KfW	Up to EUR 135,000,000	Up to EUR 135,000,000
TOTAL	Up to EUR 419,900,000	Up to EUR 270,000,000 and USD 160,000,000

SCHEDULE 2 – DEFINITIONS & CONSTRUCTION

PART I - DEFINITIONS

Act of Corruption

means any of the following:

(i) the act of promising, offering or giving, directly or indirectly, to a Public Official or to any person who directs or works, in any capacity, for a private sector entity, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of another person or entity; or

(ii) the act of a Public Official or any person who directs or works, in any capacity, for a private sector entity, soliciting or accepting, directly or indirectly, an undue advantage of any nature, for the relevant person himself or herself or for another person or entity, in order that this person acts or refrains from acting in breach of his or her legal, contractual or professional obligations and, having for effect to influence his or her own actions or those of

another person or entity.

Anti-Competitive Practices

means:

(a) any concerted or implicit action having as its object and/or as its effects to impede, restrict or distort fair competition in a market, including without limitation when it tends to: (i) limit market access or the free exercise of competition by other companies; (ii) prevent price setting by the free play of markets by artificially favouring the increase or decrease of such prices; (iii) limit or control any production, markets, investment or technical progress; or (iv) share out markets or sources of supply;

(b) any abuse by a company or group of companies of a dominant position within a domestic market or in a substantial part thereof; or

market, or to prevent a company or one of its products from accessing the market.

Act(s) of Terrorism	means: (i) any act prohibited by the United Nations Conventions and Protocols related to the fight against terrorism (which may be consulted on the following website: xxxxx://xxxxx.xx.xxx/xxx/Xxxxxxx.xxxx); (ii) any of the offences referred to in articles 3 to 10 of Directive (EU) 2017/541 of the European Parliament of 15 March 2017 on combating terrorism; or (iii) any other act intended to cause death or serious bodily injury to a civilian, or to any other person not taking an active part in the hostilities in a situation of armed conflict, when the purpose of such act, by its nature or context, is to intimidate a population, or to compel a government or an international organisation to do or abstain from doing any act.
Authorisation(s)	means any authorisation, consent, approval, resolution, permit, licence, exemption, filing, notarisation or registration, or any exemptions in respect thereof, obtained from or provided by an Authority, whether granted by means of an act, or deemed granted if no answer is received within a defined time limit, as well as any approval and consent given by the Borrower’s creditors.
Authority(ies)	means any government or statutory entity, department or commission exercising a public prerogative, or any administration, court, agency or State or any governmental, administrative, tax or judicial entity.
Availability Period	means with respect to a Credit the period from and including the Signing Date up to the related Deadline for Drawdown of this Credit.
Available Credit	means, at any given time, the maximum principal amount of a Credit specified in the Specific Agreement less: (i) the aggregate amount of the Drawdowns drawn by the Borrower; (ii) the amount of any Drawdown to be made pursuant to any pending Drawdown Request; and (iii) any portion of the Credit which has been cancelled pursuant to Clauses 10.3 (Cancellation of a Credit by the Borrower) and/or 10.4 (Cancellation of a Credit by the Lender) of the Framework Agreement.

Business Day	means a day (other than a Saturday or Sunday) on which banks are open for general business in Paris, and which is a TARGET Day in the event that a Drawdown has to be made on such day.
Certified	means for any copy, photocopy or other duplicate of an original document, the certification by any duly authorised person, as to the conformity of the copy, photocopy or duplicate with the original document.
Co-Financier(s)	means the following co-financier(s) of the Program: - the International Bank for Reconstruction and Development (IBRD), for the contemplated amount set out in the Financing Plan; - the Kreditanstalt für Wiederaufbau (KFW), for the contemplated amount set out in the Financing Plan.
Co-Financing	means the co-financing granted by the Co- Financiers with respect to the First Program Phase in the context of the Program, as well as future co-financing that could be granted, as the case may be, by the Co-Financiers and/or other financiers with respect to the Second Program Phase, for the contemplated amounts set out in the Financing Plan.
Credit	means any credit that the Lender may make available to the Borrower in accordance with the terms and conditions of this Framework Agreement and, a Specific Agreement to be entered into between the Borrower and the Lender.
Deadline for Drawdown	means, the date after which no further Drawdown may occur under a Credit, as set out in the relevant Specific Agreement.
Drawdown	means a drawdown of a Credit made, or to be made, available by the Lender to the Borrower pursuant to the terms and conditions set out in Clause 5 (Drawdown of Funds) of the Framework Agreement or the principal amount outstanding of such Drawdown which remains due and payable at a given time.
Drawdown Date	means the date on which a Drawdown is made available by the Lender.
Drawdown Period	Means, with respect to a Credit, the period from the first Drawdown Date up to the day following immediately the earlier of the following dates: (b) the date on which the Available Credit is zero; and (c) the Deadline for Drawdown.
Drawdown Request	means a request substantially in the form set out in Part I (Form for a Drawdown Request) of

	Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement.
Effective Date	means : (i) with respect to the Framework Agreement and the First Credit Specific Agreement, the date on which the conditions set out in Part III -A of Schedule 3 (Conditions Precedent) have been fulfilled and shall occur at the latest 180 calendar days after the Signing Date of the First Credit Specific Agreement; (ii) if applicable, with respect to the Second Credit Specific Agreement the date on which the conditions set out in Part IV - A of Schedule 3 (Conditions Precedent) have been fulfilled and shall occur at the latest 180 calendar days after the Signing Date of the Second Credit Specific Agreement.
Embargo	means any sanction of a commercial nature aiming at prohibiting any import and/or export (supply, sale or transfer) of one or several goods, products or services going to and/or coming from a country for a given period as published and amended from time to time by the United Nations, the European Union or France.
ES Complaints- Management Mechanism’s Rules of Procedure	means the contractual terms contained in the Environmental and Social Complaints- Management Mechanism’s Rules of Procedure, which is available on the Website, as amended from time to time.
EURIBOR	means the inter-bank rate applicable to Euro for any deposits denominated in Euro for a period comparable to the relevant period, as determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00 am Brussels time, two (2) Business Days before the first day of the Interest Period.
Euro(s) or EUR	means the single currency of the member states of the European Economic and Monetary Union, including France, and having legal tender in such Member States.
Event of Default	means any event or circumstance set out in Clause 15.1 (Events of Default) of the Framework Agreement.
Final Date	has the meaning given to that term in Clause 3 (Duration of the Framework Agreement) of the Framework Agreement.
Financial Indebtedness	means any financial indebtedness in relation to: (a) any amount borrowed at short, medium or long term; (b) any amount raised pursuant to the issue of bonds, notes, commercial paper or any other similar instrument; (c) any amount raised under any other transaction (including any forward sale or

	purchase agreement, operations on promissory notes or receivables, factoring) having the commercial effect of a borrowing; (d) any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value (or, if any actual amount is due as a result of the termination or close- out of that derivative transaction, that amount) shall be taken into account) ; or (e) the amount of any liability in respect of any payment guarantee, indemnity or other commitment.
Financial Sanctions List	means the list(s) of persons, groups or entities which are subject to financial sanctions by the United Nations, the European Union and/or France. For information purposes only and for the convenience of the Borrower, who may rely on, the following references or website addresses: For the lists maintained by the United Nations, the following website may be consulted: xxxxx://xxx.xx.xxx/xxxxxxxxxxxxxxx/xx/xxxxxxx/xx- sc-consolidated-list For the lists maintained by the European Union, the following website may be consulted: xxxxx://xxxx.xxxxxx.xx/xxxxxxxxxxxx/xxxxxxxxxxx s-homepage/8442/consolidated-list-sanctions_en For the lists maintained by France, the following website may be consulted: xxxxx://xxx.xxxxxx.xxxxxxxx.xxxx.xx/xxxxxxxx- aux-entreprises/sanctions- economiques/dispositif-national-de-gel-des-avoirs
Finance Documents	means, the Framework Agreement, the Specific Agreement(s) and any other document in relation thereto and defined as such by the Parties.
Financing Plan	means the indicative financing plan of the Program set out in Schedule 1B.
First Credit	has the meaning given to that term in the recitals of the Framework Agreement.
First Program Phase	means the achievement of the prior actions detailed in the Matrix.
Fixed Reference Rate	means the percentage as set out in the relevant Specific Agreement.
Framework Agreement	means the framework agreement for uncommitted credit facility, setting the general terms and conditions applicable to a Credit, to be entered into between the Borrower and AFD, including its recitals, Schedules and, if applicable, any amendments made in writing thereto.
Framework Agreement Signing Date	means the date of execution of the Framework Agreement by all the Parties.

Fraud	means any unfair practice (acts or omissions) deliberately intended to mislead others, to intentionally conceal elements there from, or to betray or vitiate his/her consent, to circumvent any legal or regulatory requirements and/or to violate internal rules and procedures of the Borrower or a third party in order to obtain an illegitimate benefit.
Fraud against the Financial Interests of the European Union	means any intentional act or omission intended to damage the European Union budget and involving (i) the use or presentation of false, inaccurate or incomplete statements or documents, which has as effect the misappropriation or wrongful retention of funds or any illegal reduction in resources of the general budget of the European Union; (ii) the non- disclosure of information with the same effect; and (iii) misappropriation of such funds for purposes other than those for which such funds were originally granted.
Grace Period	means the period during which no principal repayment under a Credit is due and payable, as set out in the relevant Specific Agreement.
Illicit Origin	means funds obtained through: (a) the commission of any predicate offence as designated in the FATF 40 recommendations Glossary under "Designated categories of offences" ((xxxx://xxx.xxxx- xxxx.xxx/xxxxx/xxxx/xxxxxxxxx/xxxxxxxxxxxx ons/pdfs/FATF_Recommendations.pdf); (b) any Act of Corruption; or (c) any Fraud against the Financial Interests of the European Community, if or when applicable.
Index Rate	means the TEC 10 daily index, the ten-year constant maturity rate displayed on a daily basis on the relevant quotation page of the Reference Financial Institution or any other index which may replace the TEC 10 daily index. The relevant Index Rate for each Credit on the Signing Rate Setting Date will be set out in the Specific Agreement.
Interest Period(s)	means each period from a Payment Date (exclusive) up to the next Payment Date (inclusive). For each Drawdown under the relevant Credit, the first interest period shall start on the Drawdown Date (exclusive) and end on the next successive Payment Date (inclusive).
Interest Rate	means the interest rate expressed as a percentage and determined in accordance with Clause 6.1 (Interest Rate applicable to a Credit) of the Framework Agreement.

Margin	means, the percentage applicable to a Credit as set out in the Specific Agreement.
Matrix	means the matrix of the Program as defined in Schedule 1A (Program description).
Market Disruption Event	means the occurrence of one of the following events: (a) EURIBOR is not determined by the European Money Markets Institute (EMMI), or any successor administrator, at 11:00am Brussels time, two (2) Business Days before the first day of the relevant Interest Period or on the Rate Setting Date; or (b) before close of business of the European interbank market, two (2) Business Days prior to the first day of the relevant Interest Period or on the Rate Setting Date, the Borrower receives notification from the Lender that (i) the cost to the Lender of obtaining matching resources in the relevant interbank market would be in excess of EURIBOR for the relevant Interest Period; or (ii) it cannot or will not be able to obtain matching resources on the relevant interbank market in the ordinary course of business to fund the relevant Drawdown for the relevant time period.
Material Adverse Effect	means a material and adverse effect on: (a) the Program, insofar as it would jeopardise its implementation and operation in accordance with the Finance Documents; (b) the business, assets, financial condition of the Borrower or its ability to perform its obligations under the Finance Documents; (c) the validity or enforceability of any Finance Document; or (d) any right or remedy of the Lender under any Finance Document.
Misuse of AFD's Funds or Assets	means the non-compliant, inappropriate and/or abusive use of the resources, property or assets belonging to the Lender, made knowingly, recklessly or negligently.
Money Laundering	means: (i) the act of facilitating by any means, the false justification of the origin of the assets or proceeds of the perpetrator of a felony or a misdemeanour which brought him a direct or indirect benefit; or (ii) the act of assisting in investing, concealing or converting the direct or indirect proceeds of a felony or a misdemeanour.

Non-Cooperative Practices	means: (i) the act of destroying, falsifying, altering, concealing or unreasonably withholding evidence or any other information, documents or records sought to be disclosed in connection with an investigation by the Lender of an allegation of Prohibited Practices to materially obstruct the investigation; or the act of making false statements to materially obstruct the investigation of an allegation of Prohibited Practices; or (ii) the act of threatening, harassing or intimidating any party in order to prevent it from disclosing information relating to an investigation conducted by the Lender, or the continuation of the investigation; or (iii) any acts carried out in order to materially obstruct the Lender in exercising its contractual rights to audit, inspect or access to information in the context of an investigation based on an allegation of Prohibited Practices.
Outstanding Principal	means, in respect of any Drawdown, the outstanding principal amount due by the Borrower in respect of such Drawdown.
Payment Dates	Means the payment dates specified as such in the Specific Agreement.
Payment Systems Disruption Event	means either or both of: (a) a material disruption to the payment or communication systems or to the financial markets which are, in each case, required to operate in order for payments to be made in connection with the Credit (or otherwise in order for the transactions contemplated by the Finance Documents to be carried out), provided that the disruption is not caused by, and is beyond the control of, any of the Parties; or (b) the occurrence of any other event which results in a disruption (of a technical or system-related nature) to the treasury or payment operations of a Party preventing that, or any other Party: (i) from performing its payment obligations under the Finance Documents; or (ii) from communicating with the other Parties in accordance with the terms of the Finance Documents, and which (in either case) is not caused

	by, and is beyond the control of, either Party.
Prepayment Compensatory Indemnity	means the indemnity specified as such in the Specific Agreement.
Program	has the meaning given to that term in the recitals of the Framework Agreement and described in Schedule 1A (Program Description).
Program Phase(s)	means: (f) with respect to the First Credit: the First Program Phase;

	(b) with respect to the Second Credit: the Second Program Phase.
Program Documents	means all documents, and in particular agreements, delivered or executed by the Borrower in relation to the implementation of the relevant Program Phase.
Prohibited Practice(s)	means Anti-Competitive Practices, Acts of Corruption, Fraud, Fraud against the Financial Interests of the European Union, Non- Cooperative Practices, Misuse of AFD's Funds or Assets, as well as any breach of any applicable anti-Money Laundering and counter-Terrorist Financing laws.
Public Official	means any holder of legislative, executive, administrative or judicial office whether appointed or elected, serving on permanent basis or otherwise, paid or unpaid, regardless of rank, or any other person defined as a public official under the domestic law of the Borrower’s jurisdiction, and any other person exercising a public function, including for a public agency or organisation, or providing a public service.
Rate Conversion	means the conversion of the floating rate applicable to all or part of the Credit into a fixed rate pursuant to Clause 6.1 (Interest Rate applicable to a Credit) of the Framework Agreement.
Rate Conversion Request	means a request substantially in the form attached as Part III (Form of rate conversion request) of the Schedule 4 (Forms for the Drawdowns under a Credit) of the Framework Agreement.
Rate Setting Date	means, for each fixed rate Drawdown or Rate Conversion: (i) the first Wednesday (or, if that date is

	not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request or Rate Conversion Request, provided that the Drawdown Request is received by the Lender at least two (2) full Business Days prior to said Wednesday; or (ii) in other cases, the second Wednesday (or, if that date is not a Business Day, the immediately following Business Day) following the date of receipt by the Lender of the Drawdown Request, or Rate Conversion Request.
Reference Financial Institution	means a financial institution chosen as a suitable reference financial institution by the Lender and which regularly publishes quotations of financial instruments on one of the international financial information networks according to the practices recognised by the banking industry.
Schedule(s)	means any schedule or schedules to the Framework Agreement, as the case may be.
Second Credit	has the meaning given to that term in the recitals of the Framework Agreement.
First Credit Specific Agreement	Means the complementary and specific agreement related to the First Credit to be entered into between the Lender and the Borrower.
Second Credit Specific Agreement	Means the complementary and specific agreement related to the Second Credit that may be entered into between the Lender and the Borrower.
Second Program Phase	means the achievement of the triggers detailed in the Matrix, it being specified that such triggers remains subject to adjustments in the Second Credit Specific Agreement.
Signing Date	means the date of execution of a Specific Agreement by all the Parties.
Signing Rate Setting Date	means the date as set out in the relevant Specific Agreement.
Specific Agreement(s)	Means the separate agreement to be entered into between the Lender and the Borrower for each Credit.
TARGET Day	means a day on which the Trans European Automated Real Time Gross Settlement Express Transfer 2 (TARGET2) system, or any successor thereto, is open for payment settlement in Euros.
Tax(es)	means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with a failure to pay or any delay in the payment of any such amounts).

Termination Date	has the meaning given to that term in Clause 3 (Duration of the Framework Agreement).
Terrorist Financing	means providing or collecting, directly or indirectly, funds or managing funds with the intention that they should be used, or in the knowledge that they are to be used, for the purpose of committing an Act of Terrorism.
Visibility and Communication Guide	Means all contractual provisions binding on the Borrower relating to the communication and visibility of projects financed by AFD and contained in the document entitled " Visibility guide for projects supported by AFD - Level 1 " or " Communication guide for projects supported by AFD - Level 2 " as the case may be, a copy of which has been given to the Borrower before the Framework Agreement Signing Date.
Website	means the website of AFD (xxxx://xxx.xxx.xx) or any other such replacement website.
Withholding Tax	means any deduction or retention in respect of a Tax on any payment made under or in connection with the Finance Documents.

PART II – CONSTRUCTION

(a) “assets” includes present and future properties, revenues and rights of every description;

(b) any reference to the “Borrower”, a “Party”, “AFD” or a “Lender” includes its successors

in title, permitted assigns and permitted transferees;

(c) any reference to a Finance Document or other document or security is a reference to such Finance Document or to such other document or security as amended, restated orsupplemented and includes, if applicable, any document which replaces it through novation,in accordance with the Finance Documents;

(d) a “guarantee” includes any cautionnement, aval and any garantie which is independent from the debt to which it relates;

(e) “indebtedness” means any obligation of any person whatsoever (whether incurred as principal or as surety) for the payment or repayment of money, whether present, future, actual or contingent;

(f) a “person” includes any person, company, corporation, partnership, trust, government, state

or state agency or any association, or group of two or more of the foregoing (whether or not having separate legal personality);

(g) a “regulation” includes any legislation, regulation, rule, decree, official directive, instruction, request, advice, recommendation, decision or guideline (whether or not having the force of law) of any governmental, intergovernmental or supranational body, supervisory authority, regulatory authority, independent administrative authority, agency, department or any division of any other authority or organisation (including any regulation issued by an industrial or commercial public entity) having an effect on any of the Finance Documents or on the rights and obligations of a Party;

(h) a “provision of law” is a reference to that provision as amended;

(i) unless otherwise provided, a time of day is a reference to Paris time;

(j) the Section, Clause and Schedule headings are for ease of reference only and do not affect the interpretation of a Finance Document;

(k) unless otherwise provided, words and expressions used in any other document relating to the Framework Agreement or in any notice given in connection with the Framework Agreement have the same meaning in that document or notice as in the Framework Agreement;

(l) an Event of Default is “continuing” if it has not been remedied or if the Lender has not waived any of its rights relating thereto; and

(m) words importing the plural shall include the singular and vice-versa.

SCHEDULE 3 – CONDITIONS PRECEDENT

The following applies to all documents delivered by the Borrower as a condition precedent:

(c) if the document which is delivered is not an original but a photocopy, the original Certifiedcopy shall be delivered to the Lender;

(d) the final version of a document which draft was previously sent to, and agreed upon by the Lender, shall not materially differ from the agreed draft;

(e) documents not previously sent and agreed upon, shall be in form and substance satisfactory to the Lender.

Part I – Conditions Precedent to the Signing of the Framework Agreement and the First Credit Specific Agreement

Delivery by the Borrower to the Lender of the following documents:

(a) a Certified copy of a conclusion of the Government of the Republic of Serbia approving the report from the negotiations with regard to conclusion of the Framework Agreement and the First Credit Specific Agreement, approving the borrowing by the Borrower of the First Credit and expressly authorizing the Minister of Finance of the Republic of Serbia to execute the Framework Agreement and the First Credit Specific Agreement;

(b) a certificate (signed by authorized signatory) confirming that (i) borrowing the First Credit commitments would not cause any borrowing, guaranteeing or similar limit binding on the Borrower to be exceeded, and (ii) that the public debt loan under the Finance Documents and the First Credit is within the limits set by the law governing the budget of the Republic of Serbia.

Part II – Conditions Precedent to the Signing of the Second Credit Specific Agreement

Delivery by the Borrower to the Lender of the following documents:

(a) a Certified copy of a conclusion of the Government of the Republic of Serbia approving the report from the negotiations with regard to conclusion of the Second Credit Specific Agreement, approving the borrowing by the Borrower of the Second Credit under the Framework Agreement and the Second Credit Specific Agreement and expressly authorizing the Minister of Finance of the Republic of Serbia to execute the Second Credit Specific Agreement;

(b) a certificate (signed by authorized signatory) confirming that (i) borrowing the Second Credit commitments would not cause any borrowing, guaranteeing or similar limit binding on the Borrower to be exceeded, and (ii) that the public debt loan under the Second Credit is within the limits set by the law governing the budget of the Republic of Serbia.

Part III – Conditions Precedent to the Effectiveness of the Framework Agreement and the First Credit Specific Agreement and the Drawdown of the First Credit

A- Conditions Precedent to the Effectiveness of the Framework Agreement and the First Credit Specific Agreement

(a) Delivery by the Borrower to the Lender of the following documents:

(i) An original of the legal opinion from the Minister of Justice customary for this type of transaction in form and content satisfactory to the Lender with certified copies (each with an official translation into the language of this Framework Agreement) of all relevant documents to which such legal opinion refers, demonstrating that the Framework Agreement and the the First Credit Specific Agreement are legally effective and enforceable and, in particular: (i) that the Borrower has met all requirements under its constitutional law and other applicable legal provisions for the valid assumption of all its obligations under this Framework Agreement and the First Credit Specific Agreement, (ii) that no official authorisations, consents, licenses, registrations and/or approvals of any governmental authority or agency (including the National Bank of Republic of Serbia) are required or advisable in connection with the execution and performance of the Framework Agreement and the First Credit Specific Agreement by the Borrower (including without limitation that all amounts due by the Borrower to the Lender under the Finance Documents whether as principal or interest, late payment interest, Prepayment Compensatory Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable), (iii) that choice of French law to govern the Framework Agreement and the First Credit Specific Agreement and the submission to arbitration are valid and binding, as well as that arbitration awards against the Borrower will be recognized and enforceable in the Republic of Serbia, and (iv) that neither the Borrower nor any of its property has any right of immunity from arbitration, suit, execution or other legal process other than those defined in Framework Agreement;

(ii) Evidence of the enactment by the National Assembly of the Republic of Serbia of the law ratifying the Framework Agreement and the First Credit Specific Agreement(together with evidence of such law being promulgated by the President of the Republic of Serbia) and published in the Official Gazette of the Republic of Serbia.

(b) Confirmation of the Ministry of Finance of the Republic of Serbia that the Framework Agreement and the First Credit Specific Agreement have been duly evidenced therewith.

B- Conditions Precedent to the Drawdown of the First Credit

(a) The Framework Agreement and the First Credit Specific Agreement have become effective upon the satisfaction of the conditions stipulated above.

(b) Delivery by the Borrower to the Lender of a copy of the government conclusion appointing and authorising persons to sign the Drawdown

Requests and a certificate of specimen of the signature of each person listed in this conclusion.

(c) Delivery by the Borrower to the Lender of evidence of achievement of the prior actions under the First Program Phase.

(d) Payment by the Borrower to the Lender of all fees and expenses due and payable under the Finance Documents.

Part IV - Conditions Precedent to the Effectiveness of the Second Credit Specific Agreement and the Drawdown of the Second Credit

A- Conditions Precedent to the Effectiveness of the Second Credit Specific Agreement

(a) Delivery by the Borrower to the Lender of the following documents:

(i) An original of the legal opinion from the Minister of Justice customary for this type of transaction in form and content satisfactory to the Lender with certified copies (each with an official translation into the language of this Framework Agreement) of all relevant documents to which such legal opinion refers, demonstrating that the Second Credit Specific Agreement is legally effective and enforceable and, in particular: (i) that the Borrower has met all requirements under its constitutional law and other applicable legal provisions for the valid assumption of all its obligations under the Second Credit Specific Agreement, (ii) that no official authorisations, consents, licenses, registrations and/or approvals of any governmental authority or agency (including the National Bank of Republic of Serbia) are required or advisable in connection with the execution and performance of the Second Credit Specific Agreement by the Borrower (including without limitation that all amounts due by the Borrower to the Lender under the Finance Documents whether as principal or interest, late payment interest, Prepayment Compensatory Indemnity, incidental costs and expenses or any other sum are freely convertible and transferable), (iii) that choice of French law to govern the Second Credit Specific Agreement and the submission to arbitration are valid and binding, as well as that arbitration awards against the Borrower will be recognized and enforceable in the Republic of Serbia, and (iv) that neither the Borrower nor any of its property has any right of immunity from arbitration, suit, execution or other legal process;

(ii) Evidence of the enactment by the National Assembly of the Republic of Serbia of the law ratifying the Second Credit Specific Agreement (together with evidence of such law being promulgated by the President of the Republic of Serbia) and published in the Official Gazette of the Republic of Serbia.

(b) Confirmation of the Ministry of Finance of the Republic of Serbia that the Second Credit Specific Agreement t has been duly evidenced therewith.

B- Conditions Precedent to the Drawdown of the Second Credit

(a) The Second Credit Specific Agreement has become effective upon the satisfaction of the conditions stipulated above.

(b) Delivery by the Borrower to the Lender of a copy of the government conclusion appointing and authorising persons to sign the Drawdown Request and a certificate of specimen of the signature of each person listed in this conclusion.

(d) Payment by the Borrower to the Lender of all fees and expenses due and payable under the Finance Documents.

SCHEDULE 4 – FORMS FOR THE DRAWDOWNS UNDER A CREDIT

PART I – Form for a Drawdown Request

[on the Borrower’s letterhead]

To: Agence Française de Développement

[insert the name of the AFD office set out in Clause 18.1 of the Framework Agreement] office

[insert the address of the AFD office set out in Clause 18.1 of the Framework Agreement]

Attention: AFD Director

From: [name and address of the Borrower set out in Clause 18.1 of the Framework Agreement]

On: [date]

Ref.: Drawdown Request

Borrower’s Name – Framework Agreement n° [●]

Dear Sirs,

1. We refer to the framework agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Framework Agreement”) [and the [First/Second] Credit Specific Agreement]]. Capitalised words and expressions used but not defined herein have the meaning given to them in the Framework Agreement or the [First/Second] Credit Specific Agreement as the case may be.

2. This letter is a Drawdown Request.

3. We irrevocably request that the Lender makes a Drawdown available on the following terms:

Amount: EUR [●] or, if less, the Available Credit. Interest Rate: [fixed / floating]

4. The Interest Rate will be determined in accordance with the provisions of Clause 6 (Interest Applicable to a Credit) and Clause 7 (Change to the calculation of interest applicable to a Credit) of the Framework Agreement and Clause 4 (Availability of the Credit and repayment) of the [First/Second] Credit Specific Agreement. The Interest Rate applicable to the requested Drawdown will be provided to us in writing and we accept this Interest Rate [(subject to the paragraph below, if applicable)], including when the Interest Rate is determined by reference to a Replacement Benchmark plus any Adjustment Margin as notified by the Lender following the occurrence of a Screen Rate Replacement Event.

For fixed Interest Rate only: If the Interest Rate applicable to the requested Drawdown is greater than [●] ([●]%), we request that you cancel this Drawdown Request.

5. We confirm that each condition specified in Clause 4.4 (Conditions Precedent) of the Framework Agreement is satisfied on the date of this Drawdown Request and that no Event of Default is continuing or is likely to occur. We agree to notify the Lender immediately if any of the conditions referred to above is not satisfied on or before the Drawdown Date.

6. The proceeds of this Drawdown should be credited to the to the following bank account:

(a) Name [of the Borrower/the Final Beneficiary/the Implementing Agency]:	[●]
(b) Address [of the Borrower/the Final Beneficiary/the Implementing Agency]:	[●]
(c) IBAN Account Number:	[●]
(d) SWIFT Number:	[●]
(e) Bank and bank’s address:	[●]
(f) [if applicable] correspondent bank and account number of the Borrower’s bank:	[●]

7. This Drawdown Request is irrevocable.

8. We have attached to this Drawdown Request all relevant supporting documents specified in Schedule 3 (Conditions Precedent) to the Framework Agreement.

[List of supporting documents]

Yours sincerely,

.........................................................

Authorised signatory of Borrower

PART II – Form of Confirmation of Drawdown and Rate

[on Agence Française de Développement letterhead]

To: [name and address of the Borrower set out in Clause 18.1 of the Framework Agreement]

Attention: [name set out in Clause 18.1 of the Framework Agreement] From: Agence Française de Développement

Date: [●]

Ref: Drawdown Request dated [●]

Borrower’s Name – Framework Agreement n° [●]

Dear Sirs,

1. We refer to the framework agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Framework Agreement”) and the [First/Second] Credit Specific Agreement dated [●]. Capitalised words and expressions used but not defined herein have the meaning given to them in the Framework Agreement or the [First/Second] Credit Specific Agreement as the case may be.

2. By a Drawdown Request Letter dated [●], the Borrower has requested that the Lender makes available a Drawdown in the amount of EUR [●], pursuant to the terms and conditions of the Framework Agreement and the [First/Second] Credit Specific Agreement.

3. The Drawdown which has been made available according to your Drawdown Request is as follows:

• Amount: [●amount in words] ([●]) [Option: floating Interest Rate:

• Applicable interest rate: [●percentage in words] ([●]%) per annum [equal to the aggregate of the six-month EURIBOR (equal to [●]% per annum) 1 and the Margin] 2 ]

[Option: fixed Interest Rate:

• Applicable interest rate: [●percentage in words] ([●]%) For information purposes only:

1 If the six-month EURIBOR is not available on the date of confirmation of drawdown due to the occurrence of a Screen Rate Replacement Event, the Replacement Benchmark, the precise terms and conditions of replacement of such Screen Rate with a Replacement Benchmark and the related total effective rates will be communicated to the Borrower in a separate letter.

2 To be deleted in case of fixed Interest Rate.

• Rate Setting Date: [●]

• Fixed Reference Rate: [●percentage in words] ([●]%) per annum

• Index Rate: [●percentage in words] ([●]%)

• Index Rate on the Rate Setting Date: [●]

• Effective global rate (for a 6 month period): [●percentage in words] ([●]%)

• Effective global rate (per annum): [●percentage in words] ([●]%)]

[It being specified that the above Interest Rate may vary in accordance with the provisions of clauses 6.1.1(a) (Floating Interest Rate) and 7.2 (Replacement of Screen Rate) of the Framework Agreement.]3

Yours sincerely,

.........................................................

Authorised signatory of Agence Française de Développement

3 To be deleted in case of fixed Interest Rate.

PART III – Form of Rate Conversion Request

[on the Borrower’s letterhead]

To: Agence Française de Développement

[insert the name of the AFD office set out in Clause 18.1 of the Framework Agreement] office

[insert the address of the AFD office set out in Clause 18.1 of the Framework Agreement]

Attention: AFD Director

From: [name and address of the Borrower set out in Clause 18.1 of the Framework Agreement]

On: [date]

Ref.: Rate Conversion Request

Borrower’s Name – Framework Agreement n° [●]

Dear Sirs,

1. We refer to the framework agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Framework Agreement”) and the [First/Second] Credit Specific Agreement dated [●] ]. Capitalised words and expressions used but not defined herein have the meaning given to them in the Framework Agreement or [First/Second] Credit Specific Agreement as the case may be.

2. Pursuant to Clause 6.1.3 (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Framework Agreement, we hereby request that you convert the floating Interest Rate of the following Drawdowns:

(i) [list the relevant Drawdowns],

into a fixed Interest Rate in accordance with the terms of the Framework Agreement.

3. This rate conversion request will be deemed null and void if the applicable fixed Interest Rate exceeds [●percentage in words] [●%].

On the date hereof, we represent that the provisions given pursuant to Clause 12 (Representation and warranties) are accurate.

Yours sincerely,

.........................................................

Authorised signatory of Borrower

PART IV – Form of Rate Conversion Confirmation

[on Agence Française de Développement letter head]

To: [name and address of the Borrower set out in Clause 18.1 of the Framework Agreement]

Attention: [name set out in Clause 18.1 of the Framework Agreement] From: Agence Française de Développement

Date: [●]

Ref: Rate Conversion Request dated [●]

Borrower’s Name – Framework Agreement n° [●]

Dear Sirs,

1. We refer to the framework agreement n° [●] entered into between the Borrower and the Lender dated [●] (the “Framework Agreement”) and the [First/Second] Credit Specific Agreement dated [●]. Capitalised words and expressions used but not defined herein have the meaning given to them in the Framework Agreement or the Second Credit Specific Agreement as the case may be.

2. We refer also to your Rate Conversion Request dated [●]. We confirm that the fixed Interest Rate applicable to the Drawdown(s) referred to in your Rate Conversion Request delivered in accordance with Clause 6.1.3 (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Framework Agreement is:

(ii) [●]% per annum.

3. This fixed Interest Rate, calculated in accordance with Clause 6.1.3 (Conversion from a floating Interest Rate to a fixed Interest Rate) of the Framework Agreement will apply to the Drawdown(s) referred in your Rate Conversion Request from [⚫] (effective date).

4. Further, we notify you that:

(iii) the effective global rate per annum of the Credit is [⚫]%; and

(iv) the [semi-annual] effective global rate of the Credit is [⚫]%.

Yours sincerely,

.........................................................

Authorised representative of Agence Française de Développement

SCHEDULE 5 - INFORMATION THAT MAY BE PUBLISHED ON THE FRENCH GOVERNMENT WEBSITE AND THE LENDER’S WEBSITE

1. Information regarding the Project

- Number and name in AFD’s book;

- Description;

- Operating sector ;

- Place of implementation ;

- Expected starting date ;

- Status of implementation updated on a semi-annual basis ;

2. Information regarding the financing of the Project

- Kind of financing (xxxx, xxxxx, co-financing, delegated funds) ;

- Principal amount of the Credit ;

- Amount of the uncommitted credit facility which has been drawn down (updated as the implementation of the Project goes) ;

- Designation of the Borrower

3. Other information

- Transaction information notice and/or sheet presenting the transaction attached to this Schedule.

SCHEDULE 6 - NON-EXHAUSTIVE LIST OF ENVIRONMENTAL AND SOCIAL DOCUMENTS WHICH THE BORROWER PERMITS TO BE DISCLOSED IN CONNECTION WITH ES COMPLAINTS-MANAGEMENT MECHANISM’S RULES OF PROCEDURE

- E&S Scoping Report

- Environmental and Social Impact Assessment (ESIA)

- Environmental and Social Management Plan (ESMP)

- Environmental and Social Management Framework (ESMF)

- Resettlement Action Plan (RAP)

- Resettlement Policy Framework (RPF)

- Environmental and Social Engagement Plan (ESEP)

- Limited environmental and social assessment

- Limited environmental and social action plan

- Chapter from the environmental and social feasibility study

- Chapters from the environmental and social monitoring reports

- ESEP implementation monitoring reports

ОКВИРНИ СПОРАЗУМ БРОЈ ЦРС1025

О КРЕДИТНИМ ЛИНИЈАМА ЗА ФИНАНСИРАЊЕ ПРОГРАМСКЕ ОПЕРАЦИЈЕ ЗА РАЗВОЈНУ ПОЛИТИКУ ЗЕЛЕНОГ РАСТА У СРБИЈИ

закључен дана 26. јуна 2023. године

између

ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ

као Зајмодавца

и

РЕПУБЛИКЕ СРБИЈЕ

као Зајмопримца

САДРЖАЈ

1 ДЕФИНИЦИЈЕ И ТУМАЧЕЊЕ...............................................................................................

1.1 Дефиниције ...............................................................................................................

1.2 Тумачење ..................................................................................................................

2 СВРХА ОКВИРНОГ СПОРАЗУМА ........................................................................................

2.1 Неопредељена кредитна линија ..............................................................................

2.2 Општи услови који се примењују на Кредит............................................................

3 ТРАЈАЊЕ ОКВИРНОГ СПОРАЗУМА...................................................................................

4 ИЗНОС, XXXXX И УСЛОВИ КОРИШЋЕЊА ........................................................................

4.1 Износи Кредита.........................................................................................................

4.2 Сврха .........................................................................................................................

4.3 Праћење....................................................................................................................

4.4 Претходни услови .....................................................................................................

5 ПОВЛАЧЕЊЕ СРЕДСТАВА..................................................................................................

5.1 Доступност Повлачења средстава ..........................................................................

5.2 Захтев за повлачење средстава ..............................................................................

5.3 Извршење плаћања..................................................................................................

5.4 Рок за повлачење средстава ...................................................................................

6 КАМАТА КОЈА СЕ ПРИМЕЊУЈЕ НА КРЕДИТ ....................................................................

6.1 Каматна стопа која се примењује на Кредит ...........................................................

6.2 Xxxxxxx и плаћање камате......................................................................................

6.3 Камата на доцњу и затезна камата .........................................................................

6.4 Информисање о Каматним стопама ........................................................................

7 ИЗМЕНА ОБРАЧУНА КАМАТЕ КОЈА СЕ ПРИМЕЊУЈЕ НА КРЕДИТ................................

7.1 Поремећај тржишта ..................................................................................................

7.2 Замена Приказа каматне стопе................................................................................

8 НАКНАДЕ КОЈЕ СЕ ПРИМЕЊУЈУ НА КРЕДИТ...................................................................

8.1 Накнаде за ангажовање средстава које се примењују на Кредит..........................

8.2 Приступна накнада која се примењује на Кредит ...................................................

9 ОТПЛАТА КРЕДИТА ..............................................................................................................

10 ПРЕВРЕМЕНА ОТПЛАТА И ОТКАЗ КРЕДИТА....................................................................

10.1 Добровољна превремена отплата Кредита ............................................................

10.2 Обавезна превремена отплата Кредита .................................................................

10.3 Отказ Кредита од стране Зајмопримца ...................................................................

10.4 Отказ Кредита од стране Зајмодавца......................................................................

10.5 Ограничења...............................................................................................................

11 ДОДАТНЕ XXXXXXX XXXXXXX.........................................................................................

11.1 Xxxxxxxx и расходи .................................................................................................

11.2 Обештећење за отказ Кредита ................................................................................

11.3 Обештећење за превремену отплату Кредита .......................................................

11.4 Xxxxxx и накнаде......................................................................................................

11.5 Додатни трошкови ....................................................................................................

11.6 Валутно обештећење ...............................................................................................

11.7 Дани доспећа ............................................................................................................

12 ИЗЈАВЕ И ГАРАНЦИЈЕ.........................................................................................................

12.1 Овлашћења и надлежност .......................................................................................

12.2 Ваљаност и прихватљивост у сврхе доказивања ...................................................

12.3 Извршивост обавеза.................................................................................................

12.4 Ослобођење од такси за упис или регистрацију .....................................................

12.5 Пренос средстава .....................................................................................................

12.6 Одсуство сукоба са другим обавезама....................................................................

12.7 Меродавно право и извршење.................................................................................

12.8 Одсуство неизвршења обавеза ...............................................................................

12.9 Одсуство информација које наводе у заблуду........................................................

12.10Статус pari passu.......................................................................................................

12.11Законито порекло средстава и Забрањене радње .................................................

12.12Одсуство Значајних негативних последица ............................................................

12.13Одрицање од имунитета ..........................................................................................

13 ОБАВЕЗЕ ...............................................................................................................................

13.1 Поштовање закона и прописа ..................................................................................

13.2 Овлашћења...............................................................................................................

13.3 Реализација и одржавање Програма ......................................................................

13.4 Одговорност за заштиту животне средине и друштва............................................

13.5 Статус pari passu.......................................................................................................

13.6 Вршење надзора.......................................................................................................

13.7 Вредновање Програма .............................................................................................

13.8 Спискови лица под санкцијама и ембаргом ............................................................

13.9 Законито порекло, уздржавање од Забрањених радњи .........................................

13.10Праћење Програма...................................................................................................

13.11Xxxxxxxxx и комуникације ......................................................................................

14 ОБАВЕЗЕ У ПОГЛЕДУ ИНФОРМИСАЊА ...........................................................................

14.1 Финансијске информације ........................................................................................

14.2 Извештаји о праћењу................................................................................................

14.3 Суфинансирање........................................................................................................

14.4 Информисање – разно .............................................................................................

15 СЛУЧАЈЕВИ НЕИЗВРШЕЊА ОБАВЕЗА ПО ОСНОВУ КРЕДИТА.....................................

15.1 Случајеви неизвршења обавеза ..............................................................................

15.2 Убрзање ....................................................................................................................

15.3 Обавештење о Случају неизвршења обавеза ........................................................

16 УПРАВЉАЊЕ КРЕДИТИМА .................................................................................................

16.1 Плаћања....................................................................................................................

16.2 Пребијање .................................................................................................................

16.3 Радни дани................................................................................................................

16.4 Валута плаћања........................................................................................................

16.5 Конвенција о израчунавању броја дана...................................................................

16.6 Место плаћања .........................................................................................................

16.7 Поремећај платног промета .....................................................................................

17 РАЗНО ....................................................................................................................................

17.1 Xxxxxxx и утврђења .................................................................................................

17.2 Уступање ...................................................................................................................

17.3 Поверљивост – откривање информација ................................................................

17.4 Застарелост ..............................................................................................................

17.5 Промењене околности..............................................................................................

17.6 Језик ..........................................................................................................................

17.7 Делимична ништавост ..............................................................................................

17.8 Неодрицање од права ..............................................................................................

17.9 Правно дејство..........................................................................................................

17.10Целовитост споразума .............................................................................................

17.11Измене и допуне .......................................................................................................

18 ОБАВЕШТЕЊА......................................................................................................................

18.1 Писмена комуникација и адресе ..............................................................................

18.2 Достава .....................................................................................................................

18.3 Електронска комуникација........................................................................................

19 МЕРОДАВНО ПРАВО, ИЗВРШЕЊЕ И ИЗБОР СЕДИШТА ................................................

19.1 Меродавно право......................................................................................................

19.2 Арбитража .................................................................................................................

ПРИЛОГ 1А - ОПИС ПРОГРАМА ................................................................................................

ПРИЛОГ 1Б - ПЛАН ФИНАНСИРАЊА .......................................................................................

ПРИЛОГ 2 – ДЕФИНИЦИЈЕ И ТУМАЧЕЊЕ ................................................................................

ПРИЛОГ 3 - ПРЕТХОДНИ УСЛОВИ ............................................................................................

ПРИЛОГ 4 – ОБРАСЦИ ЗА ПОВЛАЧЕЊЕ СРЕДСТАВА ПО ОСНОВУ КРЕДИТА ..................

ПРИЛОГ 5 - ИНФОРМАЦИЈЕ КОЈЕ СЕ МОГУ ОБЈАВИТИ НА ИНТЕРНЕТ

СТРАНИЦИ ВЛАДЕ ФРАНЦУСКЕ И ИНТЕРНЕТ СТРАНИЦИ ЗАЈМОПРИМЦА ..............

ПРИЛОГ 6 - НЕТАКСАТИВНИ СПИСАК ДОКУМЕНТАЦИЈЕ О ЗАШТИТИ ЖИВОТНЕ СРЕДИНЕ И ДРУШТВА ЧИЈЕ ОБЈАВЉИВАЊЕ ЗАЈМОПРИМАЦ ДОПУШТА У СКЛАДУ СА ПРАВИЛНИКОМ О ЖАЛБЕНОМ МЕХАНИЗМУ У ПОГЛЕДУ

ПИТАЊА ЗАШТИТЕ ЖИВОТНЕ СРЕДИНЕ И ДРУШТВА ..................................................

ОКВИРНИ СПОРАЗУМ О КРЕДИТНИМ ЛИНИЈАМА ЗА ФИНАНСИРАЊЕ ПРОГРАМСКЕ ОПЕРАЦИЈЕ ЗА РАЗВОЈНУ ПОЛИТИКУ ЗЕЛЕНОГ РАСТА У

СРБИЈИ

ЗАКЉУЧЕН ИЗМЕЂУ:

РЕПУБЛИКЕ СРБИЈЕ, коју заступа Влада Републике Србије, посредством министра финансија, г-xxx Xxxxxx Xxxx, који је овлашћен да потпише Оквирни споразум,

(у даљем тексту: „Република Србијаˮ или „Зајмопримацˮ );

И

ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ, јавног субјекта Француске чији је рад уређен правом Француске, са седиштем на адреси 0, Xxx Xxxxxx Xxxxxxx, 00000 Xxxxx Xxxxx 00, Француска, уписаног у Трговински и регистар привредних друштава у Паризу под бројем 000 000 000, које заступа Xxxxxxxxx Xxxxxxxxxx у својству директора регионалне канцеларије за Западни Балкан, овлашћен да потпише овај оквирни споразум,

(у даљем тексту: „АФДˮ или „Зајмодавацˮ );

(у даљем тексту заједно: „Странеˮ односно појединачно: „Странаˮ ).

БУДУЋИ ДА:

(A) У контексту програма из Прилога 1A (Опис Програма) Оквирног споразума (у даљем тексту: „Програмˮ ), Зајмодавац намерава да реализује Фазе Програма.

(Б) У складу са решењем свог Управног одбора број Ц20221268 од 15. децембра 2022. године, АФД је овлашћена да закључи овај оквирни споразум ради стављања Зајмопримцу на располагање два кредита за потребе финансирања Фаза Програма.

(Ц) Зајмопримац и АФД су се сагласили да овим оквирним споразумом унапред дефинишу опште услове који се примењују на Кредите који се могу учинити доступним за потребе финансирања Фаза Програма.

(Д) АФД се сагласила да на основу овог оквирног споразума Зајмопримцу стави на располагање први Кредит у укупном износу од стотину тридесет пет милиона евра (135.000.000 ЕУР) (у даљем тексту: „Први кредитˮ ), под општим условима наведеним у овом оквирном споразуму и посебним условима који ће се прописати Посебним споразумом о Првом кредиту.

(Е) Под условом да се оствари напредак у реализацији Програма и да релевантно тело АФД задужено за доношење одлука усвоји додатно одобрење, Зајмопримцу се може ставити на располагање и други Кредит у укупном износу од највише стотину тридесет пет милиона евра (135.000.000 ЕУР) или у било ком другом износу око кога се Стране заједнички сагласе (у даљем тексту: „Други кредитˮ ), под општим условима наведеним у овом оквирном споразуму и посебним условима који ће се прописати Посебним споразумом о Другом кредиту.

(Ф) Међународна банка за обнову и развој (IBRD) и Kreditanstalt für Wiederaufbau (KfW) (у даљем тексту: „Суфинансијериˮ ) намеравају да Фазе Програма финансирају паралелно са Кредитима које може ставити на располагање АФД.

НА ОСНОВУ НАПРЕД НАВЕДЕНОГ, СТРАНЕ СУ СЕ СТОГА СПОРАЗУМЕЛЕ О СЛЕДЕЋЕМ:

1 ДЕФИНИЦИЈЕ И ТУМАЧЕЊЕ

1.1 Дефиниције

Речи и изрази написани великим почетним словом који се користе у Оквирном споразуму (укључујући и у Прилозима Оквирног споразума) имају значења која су им дата у Прилогу 2 (Дефиниције и тумачење) Оквирног споразума, осим ако Оквирним споразумом није прописано другачије.

1.2 Тумачење

Речи и изрази који се користе у Оквирном споразуму тумаче се у складу са одредбама Прилога 2 (Дефиниције и тумачење) Оквирног споразума, осим ако није наведено другачије.

2 СВРХА ОКВИРНОГ СПОРАЗУМА

2.1 Неопредељена кредитна линија

Почевши од Дана потписивања Оквирног споразума па све док Оквирни споразум остане на снази у складу са чланом 3 (Трајање Оквирног споразума), Зајмопримац може захтевати да му АФД стави на располагање Кредит за финансирање Фазе Програма, за који АФД може, у зависности од случаја и у складу са својим дискреционим правом, без икакве обавезе, одлучити да дозволи или да одбије да буде стављен на располагање.

2.2 Општи услови који се примењују на Кредит

АФД и Зајмопримац су сагласни да се на Кредит примењују услови из овог оквирног споразума допуњени условима из Посебног споразума о Првом кредиту (у погледу Првог кредита) и Посебног споразума о Другом кредиту (у погледу Другог кредита, ако постоји).

3 ТРАЈАЊЕ ОКВИРНОГ СПОРАЗУМА

Оквирни споразум ступа на снагу првог Дана ступања на снагу и остаје на снази и примењује се три (3) године од Дана потписивања Оквирног споразума (у даљем тексту: „Дан истекаˮ ).

Свака Страна може да раскине Оквирни споразум у било ком тренутку пре Дана истека без обавезе плаћања пенала (осим пенала који се плаћају у складу са неизмиреним Кредитима), ако о томе достави обавештење другој Страни препорученим писмом са повратницом

најмање петнаест (15) календарских дана пре очекиваног дана раскида наведеног у таквом обавештењу (у даљем тексту: „Дан раскидаˮ ).

Од дана који наступи три месеца пре Дана истека, односно од дана достављања напред наведеног обавештења о раскиду, Зајмопримац неће захтевати од АФД да му стави на располагање Кредит за финансирање Фазе Програма, али ће Оквирни споразум имати дејство у односу на неизмирене Кредите све док преостане било који износ за плаћање у складу са Финансијском документацијом.

4 ИЗНОС, СВРХА И УСЛОВИ КОРИШЋЕЊА

4.1 Износи Кредита

Укупан износ Кредита који се могу одобрити у складу са Оквирним споразумом не прелази суму од две стотине седамдесет милиона евра (270.000.000 ЕУР), односно другу суму око које се Стране заједнички сагласе, и то:

(a) Први кредит за финансирање Програма износиће стотину тридесет пет милиона евра (135.000.000 ЕУР);

(б) Други кредит за финансирање Програма износиће највише стотину тридесет пет милиона евра (135.000.000 ЕУР), односно другу суму око које се Стране заједнички сагласе;

(ц) број Кредита који се учине доступним у складу са Оквирним споразумом не може бити већи од два.

4.2 Сврха

Сврха Кредита је да се оствари допринос финансирању буџета Зајмопримца у односу на реализацију Програма на начин који је описан у Прилогу 1A (Опис Програма).

4.3 Праћење

Зајмодавац није одговоран за коришћење било ког позајмљеног износа супротно одредбама Финансијске документације.

4.4 Претходни услови

(a) Најкасније на Дан потписивања Оквирног споразума, Зајмопримац ће Зајмодавцу доставити све документе из Дела I (Претходни услови за потписивање Оквирног споразума и Посебног споразума о Првом кредиту) Прилога 3 (Претходни услови) у облику и са садржином који су прихватљиви за Зајмодавца.

(б) Најкасније на Дан потписивања Посебног споразума о Другом кредиту, Зајмопримац ће Зајмодавцу доставити све документе из Дела II (Претходни услови за потписивање Посебног споразума о Другом кредиту) Прилога 3 (Претходни услови) у облику и са садржином који су прихватљиви за Зајмодавца.

(ц) Захтев за повлачење средстава не може се доставити Зајмодавцу осим ако:

(а) за Први кредит, Зајмодавац није примио све документе из Дела III - Б (Претходни услови за Повлачење средстава Првог кредита) Прилога 3 (Претходни услови) Оквирног споразума и није обавестио Зајмопримца да су ти документи прихватљиви по свом облику и садржини; и

(б) за Други кредит, Зајмодавац није примио све документе из Дела IV - Б (Претходни услови за Повлачење средстава Другог кредита) Прилога 3 (Претходни услови) Оквирног споразума и није обавестио Зајмопримца да су ти документи прихватљиви по свом облику и садржини.

(д) Зајмодавац је дужан да учини доступним Повлачење средстава само ако, на дан подношења Захтева за повлачење средстава и на Дан повлачења средстава, није наступио Случај поремећаја платног промета и ако су испуњени услови из Финансијске документације, укључујући:

(а) Ниједан Случај неизвршења обавеза није у току нити би наступио услед предложеног Повлачења средстава;

(б) Захтев за повлачење средстава је упућен у складу са одредбама члана 5.2 (Захтев за повлачење средстава) Оквирног споразума;

(ц) све изјаве које је Зајмопримац дао у вези са чланом 12 (Изјаве и гаранције) Оквирног споразума су истините.

(е) Зајмодавац задржава право да Повлачење средстава стави на располагање ако је Суфинансијер престао да извршава обавезе у погледу било које Фазе Програма.

5 ПОВЛАЧЕЊЕ СРЕДСТАВА

5.1 Доступност Повлачења средстава

Било који износ по основу Кредита биће стављен на располагање Зајмопримцу током Периода доступности везаног за овај Кредит, и то у једном Повлачењу средстава.

5.2 Захтев за повлачење средстава

Под условом да су испуњени захтеви из члана 4.4 (Претходни услови) Оквирног споразума, и, ако су примењиви, и захтеви из релевантног Посебног споразума, Зајмопримац може да повуче средства по основу Кредита тако што ће Зајмодавцу доставити исправно попуњен Захтев за повлачење средстава. Зајмопримац сваки Захтев за повлачење средстава доставља директору канцеларије АФД на адресу из члана

18.1 (Писмена комуникација и адресе) Оквирног споразума.

Сваки Захтев за повлачење средстава је неопозив и сматра се да је исправно попуњен:

(d) ако је Захтев за повлачење средстава у највећој мери сачињен у облику из Дела I (Образац Захтева за повлачење средстава) Прилога 4 (Обрасци за Повлачење средстава по основу Кредита) Оквирног споразума;

(б) ако је Зајмопримац примио Захтев за повлачење средстава најмање петнаест (15) Радних дана пре Рока повлачења средстава;

(ц) ако је предложени Дан повлачења средстава Радни дан који пада у току Периода доступности;

(д) ако је износ Повлачења средстава у складу са Оквирним споразумом; и

(е) ако су испуњени услови из члана 4.4 (д).

5.3 Извршење плаћања

Под условом да је испуњена одредба члана 16.7 (Поремећај платног промета) Оквирног споразума, ако је примењив сваки од услова из члана 4.4 (Претходни услови) Оквирног споразума, и ако је то примењиво, из релевантног Посебног споразума, Зајмодавац ће ставити Зајмопримцу на располагање захтевано Повлачење средстава најкасније на Дан повлачења средстава.

Зајмодавац ће Зајмопримцу доставити писмо о потврди Повлачења средстава које ће у највећој мери бити сачињено у складу са обрасцем из Дела II (Образац Потврде повлачења средстава и Каматне стопе) Прилога 4 (Обрасци за Повлачење средстава по основу Кредита) Оквирног споразума.

5.4 Рок за повлачење средстава

Повлачење Кредита у целини наступиће на дан истека Рока за повлачење средстава или пре тог дана.

Ако повлачење Кредита не наступи у напред наведеном року, Зајмодавац може да откаже Доступни кредит у складу са чланом 10.4 (Отказ Кредита од стране Зајмодавца) Оквирног споразума.

Рок за повлачење средстава не може се продужити без претходне сагласности Зајмодавца.

За свако продужење Рока за повлачење средстава (i) примењују се накнаде и/или нови финансијски услови (ii) мора се извршити измена у писменом облику уз сагласност обеју Страна.

6 КАМАТА КОЈА СЕ ПРИМЕЊУЈЕ НА КРЕДИТ

6.1 Каматна стопа која се примењује на Кредит

6.1.1 Избор Каматне стопе

За свако Повлачење средстава по основу Кредита Зајмопримац може одабрати фиксну Каматну стопу или променљиву Каматну

стопу, која ће се примењивати на износ дефинисан у одговарајућем Захтеву за повлачење средстава, тако што ће одабрану Каматну стопу, односно фиксну или променљиву, навести у Захтеву за повлачење средстава достављеном Зајмодавцу и сачињеном у највећој мери у облику из Дела I (Образац Захтева за повлачење средстава) Прилога 4 (Обрасци за Повлачење средстава по основу Кредита) Оквирног споразума, под следећим условима:

(а) Променљива Каматна стопа

Без обзира на износ захтеваног Повлачења средстава, Зајмопримац може одабрати променљиву Каматну стопу, изражену у процентима годишње, која је збир:

- шестомесечног EURIBOR-а, или, већ према случају, Заменског мерила увећаног за Корективну маржу, утврђеног у складу са одредбама члана 7 (Измена обрачуна камате која се примењује на Кредит) Оквирног споразума;

- Марже.

Без обзира на напред наведено, за свако Повлачење средстава, у случају првог Каматног периода, ако је први Каматни период краћи од стотину тридесет пет (135) дана, примењиви EURIBOR је:

- једномесечни EURIBOR, или, већ према случају, Заменско мерило увећано за Корективну маржу, утврђено у складу са одредбама члана 7 (Измена обрачуна камате која се примењује на Кредит) Оквирног споразума, ако је први Каматни период краћи од шездесет (60) дана; или

- тромесечни EURIBOR, или, већ према случају, Заменско мерило увећано за Корективну маржу, утврђено у складу са одредбама члана 7 (Измена обрачуна камате која се примењује на Кредит) Оквирног споразума, ако је први Каматни период дужи од шездесет (60) дана, али краћи од стотину тридесет пет (135) дана.

(б) Фиксна Каматна стопа

Без дирања у одредбе члана 5.1 (Доступност Повлачења средстава), ако је износ захтеваног Повлачења средстава већи или једнак суми од три милиона евра (3.000.000 ЕУР), Зајмопримац може да одабере фиксну Каматну стопу за такво захтевано Повлачење средстава. Фиксна Каматна стопа је Фиксна референтна каматна стопа увећана или умањена за било коју измену Индексне стопе између Дана утврђивања почетне каматне стопе и Дана утврђивања каматне стопе за свако Повлачење средстава.

Зајмопримац може у Захтеву за повлачење средстава да наведе максимални износ фиксне Каматне стопе. Ако фиксна Каматна стопа обрачуната на Дан утврђивања каматне стопе прелази максимални износ фиксне Каматне стопе наведене у одговарајућем Захтеву за повлачење средстава, такав Захтев за повлачење средстава се поништава и износ Повлачења средстава наведен у поништеном Захтеву за повлачење средстава приписује се Доступном кредиту.

6.1.2 Минимална Каматна стопа

Каматна стопа утврђена у складу са чланом 6.1.1 (Избор Каматне стопе), без обзира на то која је могућност одабрана, не може бити нижа од нула кома двадесет пет одсто (0,25%) годишње, без обзира на могуће смањење Каматне стопе.

6.1.3 Конверзија из променљиве Каматне стопе у фиксну Каматну стопу

Променљива Каматна стопа која се примењује на више од једног Повлачења средстава конвертује се у фиксну Каматну стопу у складу са напред наведеним условима:

(а) Конверзија стопе на захтев Зајмопримца

Зајмопримац у сваком тренутку може захтевати да Зајмодавац конвертује променљиву Каматну стопу која се примењује на једно Повлачење средстава или више Повлачења средстава у фиксну Каматну стопу, ако је, без дирања у одредбе члана 5.1 (Доступност Повлачења средстава) , износ таквог Повлачења средстава или збирни износ више Повлачења средстава (већ према случају) једнак или већи од суме од три милиона евра (3.000.000 ЕУР).

У том смислу, Зајмопримац доставља Зајмодавцу Захтев за конверзију стопе сачињен у највећој мери у складу са обрасцем из Дела III (Образац Захтева за конверзију стопе) Прилога 4 (Обрасци за Повлачење средстава по основу Кредита) Оквирног споразума. Зајмопримац у Захтеву за конверзију стопе може навести максимални износ фиксне Каматне стопе. Ако фиксна Каматна стопа обрачуната на Дан утврђивања каматне стопе прелази максимални износ фиксне Каматне стопе коју Зајмопримац наведе у Захтеву за конверзију стопе, такав Захтев за конверзију стопе се аутоматски поништава.

Фиксна Каматна стопа ступа на снагу два (2) Радна дана након Дана утврђивања каматне стопе.

(б) Механизми за Конверзију стопе

Фиксна Каматна стопа која се примењује на одговарајуће Повлачење (односно одговарајућа Повлачења) средстава

утврђује се у складу са чланом 6.1.1(б) (Фиксна Каматна стопа) Оквирног споразума на Дан утврђивања каматне стопе из тачке (а) овог става.

Зајмодавац без одлагања доставља Зајмопримцу писмо о потврди Конверзије стопе које ће у највећој мери бити сачињено у складу са обрасцем из Дела IV (Образац Потврде о конверзији стопе) Прилога 4 (Обрасци за Повлачење средстава по основу Кредита) Оквирног споразума.

Конверзија стопе је коначна и врши се без накнаде.

6.2 Обрачун и плаћање камате

Зајмопримац плаћа доспелу камату на Повлачење (односно Повлачења) средстава на сваки Дан плаћања.

Износ камате који је Зајмопримац дужан да плати на одговарајући Дан плаћања и за одговарајући Каматни период једнак је збиру камате коју је Зајмопримац дужан да плати на износ Неизмирене главнице по основу сваког Повлачења средстава. Камата коју је Зајмопримац дужан да плати по основу сваког Повлачења средстава обрачунава се на основу:

(а) Неизмирене главнице коју Зајмопримац дугује по основу релевантног Повлачења средстава са стањем на први претходни Дан плаћања или, за први Каматни период, на одговарајући Дан повлачења средстава;

(б) тачног броја дана који су протекли током одговарајућег Каматног периода на основу године од три стотине шездесет (360) дана; и

(ц) примењиве Каматне стопе утврђене у складу са одредбама члана

6.1 (Каматна стопа која се примењује на Кредит) Оквирног споразума.

6.3 Камата на доцњу и затезна камата

(а) Камата на доцњу и затезна камата на све доспеле а неизмирене износе (осим камате)

Ако Зајмопримац Зајмодавцу не исплати било који износ доспео за плаћање у складу са Финансијском документацијом (било да је реч о отплати главнице, Авансној накнади или евентуалним накнадама или повезаним трошковима било које врсте, осим доспеле а неизмирене камате) на дан доспећа, на доспели а неизмирени износ обрачунава се камата, у мери допуштеној законом, од дана доспећа до дана измирења обавезе (како пре тако и после одлуке арбитражног суда, ако је таква одлука донета) по Каматној стопи која се примењује за текући Каматни период (затезна камата) увећаној за три кома пет одсто (3,5%) (камата за доцњу). Није потребно никакво претходно званично обавештење Зајмодавца.

(б) Доцња и затезна камата на доспелу, а неизмирену камату

На камату која није измирена на дан доспећа обрачунава се камата, у мери допуштеној законом, по Каматној стопи која се примењује за текући Каматни период (затезна камата) увећаној за три кома пет одсто (3,5%) (камата за доцњу), у случају да је таква камата доспела за плаћање најмање једну (1) годину. Није потребно никакво претходно званично обавештење Зајмодавца.

Зајмопримац је дужан да плати сву доспелу а неизмирену камату у складу са чланом 6.3 (Камата на доцњу и затезна камата) Оквирног споразума без одлагања на захтев Зајмодавца на сваки Дан плаћања који уследи након дана доспећа неизмирене обавезе.

(ц) Ако Зајмодавац прими било какву задоцнелу плаћену камату или затезну камату, то се не сматра продужењем рока за плаћање који је остављен Зајмопримцу, нити се сматра одрицањем Зајмодавца од његових права у складу са овим Општим условима.

6.4 Информисање о Каматним стопама

Зајмодавац ће без одлагања обавестити Зајмопримца о утврђивању сваке Каматне стопе у складу са Финансијском документацијом.

7 ИЗМЕНА ОБРАЧУНА КАМАТЕ КОЈА СЕ ПРИМЕЊУЈЕ НА КРЕДИТ

7.1 Поремећај тржишта

(a) Ако Поремећај тржишта утиче на међубанкарско тржиште у Еврозони и није могуће:

(i) за фиксну Каматну стопу, утврдити фиксну Каматну стопу која се примењује на Повлачење средстава, или

(ii) за променљиву Каматну стопу, утврдити EURIBOR који се примењује на одговарајући Каматни период,

Зајмодавац ће о томе обавестити Зајмопримца.

(б) По наступању догађаја из става (а) овог члана, Каматна стопа примењива, према случају, на одговарајуће Повлачење средстава или на одговарајући Каматни период је збир:

(i) Марже; и

(ii) годишње стопе, у процентима, која одговара трошковима које Зајмодавац сноси за финансирање одговарајућег (односно одговарајућих) Повлачења средстава из извора који може разумно да одабере. Зајмопримац ће бити обавештен о тој стопи без одлагања, а у сваком случају пре (1) првог Дана плаћања за камату која се дугује по основу таквог Повлачења средстава за фиксну Каматну стопу или (2) Дана плаћања за камату која се дугује за тај Каматни период за променљиву Каматну стопу.

7.2 Замена Приказа каматне стопе

7.2.1 Дефиниције

„Релевантно предлагачко телоˮ је свака централна банка, регулаторни орган, надзорни орган или радна група или одбор који организује или којим то тело председава, или који се формира на захтев било ког таквог тела.

„Случај замене Приказа каматне стопеˮ је сваки следећи случај или низ случајева:

(a) значајна измена дефиниције, методологије, формуле или средства за утврђивање Приказа каматне стопе;

(б) усвајање закона или прописа којим се забрањује употреба Приказа каматне стопе, при чему се наводи, како би се избегла свака сумња, да настанак тог случаја не представља случај који доводи до обавезне превремене отплате;

(ц) ако тело који управља Приказом каматне стопе или његово надзорно тело јавно објави:

(i) да је трајно или на неодређени временски рок престало или ће престати да обезбеђује Приказ каматне стопе, а да у том тренутку није јавно именован ниједан следбеник тог тела који ће наставити да обезбеђује Приказ каматне стопе;

(ii) да је трајно или на неодређени временски рок престало или ће престати објављивање Приказа каматне стопе; или

(iii) да се Приказ каматне стопе више не може користити (како сада, тако и у будућности);

(д) јавна објава о стечају тела које управља Приказом каматне стопе или покретању поступка над њим због неспособности плаћања, а да у том тренутку није јавно именован ниједан следбеник тог тела који ће наставити да обезбеђује Приказ каматне стопе;

(e) ако, је по мишљењу Зајмодавца, Приказ каматне стопе престао да се користи у низу упоредивих финансијских трансакција.

„Приказ каматне стопеˮ је EURIBOR или, ако та стопа буде замењена Заменским мерилом, Заменско мерило.

„Дан замене Приказа каматне стопеˮ је:

– за случајеве из тачака a), д) и e) напред наведене дефиниције Случаја замене приказа каматне стопе, дан на који Зајмодавац прими к знању наступање таквог случаја, и

– за случајеве из тачака б) и ц) напред наведене дефиниције Случаја замене приказа каматне стопе, дан након кога је коришћење Приказа каматне стопе забрањено или дан на који тело које управља Приказом каматне стопе трајно или на неодређени временски рок престане да обезбеђује Приказ каматне стопе или дан након кога се Приказ каматне стопе више не може користити.

7.2.2 Свака Страна прима к знању и сагласна је да у случају наступања Случаја замене приказа каматне стопе, и ради очувања

економске равнотеже Оквирног споразума, Зајмодавац може да замени Приказ каматне стопе другом (у даљем тексту: „Заменско мерилоˮ ) која може да садржи и корективну маржу у циљу спречавања преноса економске вредности између страна (ако постоји) (у даљем тексту: „Корективна маржаˮ ) и да Зајмодавац одређује дан од кога Заменско мерило и, ако постоји, Корективна маржа мењају Приказ каматне стопе и евентуалне друге измене и допуне Оквирног споразума неопходне услед замене Приказа каматне стопе Заменским мерилом.

7.2.3 Утврђивање стопе Заменског мерила и неопходних измена и допуна врши се у доброј вери и узимајући у обзир (i) препоруке евентуалног Релевантног предлагачког тела, или (ii) препоруке тела које управља Приказом каматне стопе, или (iii) секторско решење које предложе струковна удружења у банкарском сектору, или (iv) тржишну праксу опажену у низу упоредивих финансијских трансакција на дан замене.

7.2.4 У случају замене Приказа каматне стопе, Зајмодавац ће без одлагања обавестити Зајмопримца о условима под којима ће се Приказ каматне стопе заменити Заменским мерилом, који ће се примењивати на Каматне периоде са почетком најмање два Радна дана након Дана замене Приказа каматне стопе.

7.2.5 Одредбе члана 7.2 (Замена Приказа каматне стопе) имају првенство над одредбама члана 7.1 (Поремећај тржишта).

8 НАКНАДЕ КОЈЕ СЕ ПРИМЕЊУЈУ НА КРЕДИТ

8.1 Накнаде за ангажовање средстава које се примењују на Кредит

Са почетком сто осамдесет (180) календарских дана од Дана потписивања Посебног споразума, Зајмопримац ће Зајмодавцу исплатити накнаду за ангажовање средстава од нула кома двадесет пет одсто (0,25%) годишње.

Накнада за ангажовање средстава се обрачунава по горе наведеној стопи на износ Доступног кредита у сразмери са стварним бројем увећаној, ако је то примењиво, за износ евентуалних Повлачења средстава које ће Зајмодавац ставити на располагање у складу са неизвршеним Захтевима за повлачење средстава.

Прва накнада за ангажовање средстава се обрачунава за период (i) од дана који пада шездесет (60) календарских дана од Дана потписивања Посебног споразума (искључујући тај дан), до (ii) дана непосредно након Дана плаћања (укључујући и тај дан). Наредне накнаде за ангажовање средстава се обрачунавају за периоде који почињу на дан непосредно након Дана плаћања (укључујући и тај дан) и завршавају се на следећи Дан плаћања (укључујући и тај дан).

Доспела приступна накнада се плаћа (i) на сваки Дан плаћања у току Периода доступности; (ii) на Дан плаћања непосредно након последњег дана Периода повлачења средстава; (iii) у случају да је Доступни кредит у потпуности отказан, на Дан плаћања након дана на који тај отказ ступа

на снагу, и (iv) у случају да су сви Доступни кредити у потпуности отказани, на дан на који тај отказ ступа на снагу.

8.2 Приступна накнада која се примењује на Кредит

Најкасније сто осамдесет (180) календарских дана након Дана потписивања Посебног споразума, а пре Повлачења Кредита, Зајмопримац ће Зајмодавцу исплатити приступну накнаду од нула кома двадесет пет одсто (0,25%) обрачунату на максимални износ Кредита.

9 ОТПЛАТА КРЕДИТА

Након истека Периода почека, Зајмопримац ће отплатити Зајмодавцу главницу Кредита у више рата које доспевају на плаћање на сваки Дан плаћања.

Број рата и Дани плаћања ће се утврдити у сваком Посебном споразуму.

На крају Периода повлачења средстава, Зајмодавац ће Зајмопримцу доставити план амортизације у погледу Кредита у коме ће се узети у обзир, ако је то примењиво, могући отказ Кредита у складу са чланом

10.3 (Отказ Кредита од стране Зајмопримца) Оквирног споразума и чланом 10.4 (Отказ Кредита од стране Зајмодавца) Оквирног споразума.

10 ПРЕВРЕМЕНА ОТПЛАТА И ОТКАЗ КРЕДИТА

10.1 Добровољна превремена отплата Кредита

Није дозвољена превремена отплата Кредита у целини или делимично до истека Периода повлачења средстава.

Од првог дана након истека Периода повлачења средстава, Зајмопримац може превремено да отплати Кредит у целини или делимично под следећим условима:

(а) Зајмопримац је дужан да у писменом облику обавести Зајмодавца о својој неопозивој намери да изврши превремену отплати најмање тридесет (30) Радних дана пре предвиђеног дана превремене отплате;

(б) износ који подлеже превременог отплати мора бити једнак једној или више рата главнице;

(ц) предвиђени дан превремене отплате мора бити Дан плаћања;

(д) сва превремена плаћања се морају извршити заједно са плаћањем приписане камате, евентуалних накнада, обештећења и сродних трошкова у вези са износом превремене отплате, у складу са Финансијском документацијом;

(е) не смеју постојати доспеле а неизмирене обавезе.

На Дан плаћања на који се врши превремена отплата, Зајмопримац је дужан да плати пун износ доспелих и наплативих Обештећења за

превремену отплату у складу са чланом 11.3 (Обештећење за превремену отплату Кредита) Оквирног споразума.

10.2 Обавезна превремена отплата Кредита

Зајмопримац је дужан да без одлагања отплати Кредит у целини или делимично, ако је то примењиво, у погледу кога наступи било који од следећих случајева, након пријема обавештења од Зајмодавца:

(а) Незаконитост: ако за Зајмодавца постане незаконито, у складу са прописима који се примењују на њега, да извршава било које своје обавезе предвиђене Финансијском документацијом или да финансира или одржава Кредит;

(б) Додатни трошкови: ако је износ евентуалних Додатних трошкова из члана 11.5 (Додатни трошкови) Оквирног споразума значајан, а Зајмопримац одбије да плати те трошкове;

(ц) Неизвршење обавеза: Зајмодавац објави настанак Случаја неизвршења обавеза плаћања у складу са чланом 15 (Случајеви неизвршења обавеза по основу Кредита) Оквирног споразума;

(д) Превремена отплата Суфинансијеру: ако Зајмопримац превремено отплати износ који дугује Суфинансијеру, у целини или делимично, у ком случају Зајмодавац има право да захтева да Зајмопримац превремено отплати, већ према случају, Кредит или износ неизмиреног Кредита сразмеран износу који је превремено отплаћен Суфинансијеру;

(е) Превремена отплата Кредита одобреног у складу са овим оквирним споразумом: ако Зајмопримац превремено отплати било које дуговање, у целини или делимично, по основу Кредита који је Зајмодавац одобрио Зајмопримцу у складу са Оквирним споразумом, у ком случају Зајмодавац има право да захтева да Зајмопримац превремено отплати неизмирени износ по основу Кредита у сразмери са тим превремено отплаћеним износом.

Ако наступи било који од случајева из ставова (a), (б) и (ц) овог члана, Зајмодавац задржава право, након што о томе обавести Зајмопримца у писменом облику, да остварује своја права као поверилац на начин описан у ставу (б) члана 15.2 (Убрзање) Оквирног споразума.

10.3 Отказ Кредита од стране Зајмопримца

Пре истека Рока за Повлачење средстава, Зајмопримац може да откаже Доступни кредит по основу Кредита у целини или делимично тако што ће о томе обавестити Зајмодавца у року од три (3) Радна дана унапред.

По пријему таквог обавештења о отказу, Зајмодавац ће отказати износ о коме га је обавестио Зајмопримац.

10.4 Отказ Кредита од стране Зајмодавца

Доступни кредит по основу Кредита ће без одлагања бити отказан након достављања обавештења Зајмодавцу, које ступа на снагу без одлагања, ако:

(а) износ Доступног кредита није једнак нули на дан истека Рока за повлачење средстава;

(б) наступи и у току је Случај неизвршења обавеза; или

(ц) је наступио случај из члана 10.2 (Обавезна превремена отплата Кредита) Оквирног споразума.

10.5 Ограничења

(e) Свако обавештење о превременој отплати или отказу у складу са чланом 10 (Превремена отплата и отказ Кредита) Оквирног споразума је неопозиво и, осим ако у Финансијској документацији није наведено другачије, у сваком таквом обавештењу наводе се дан односно дани на који се врши одговарајућа превремена отплата или отказ и износ превремене отплате или отказа.

(б) Зајмопримац може да отплати или откаже Кредит у целини или делимично само у време и на начин који је изричито прописан у Финансијској документацији.

(ц) Свака превремена отплата у складу са Финансијском документацијом врши се заједно са плаћањем (i) камате приписане на износ превремене отплате, (ii) неизмирених накнада и (iii) Обештећења за превремену отплату из члана 11.3 (Обештећење за превремену отплату Кредита) Оквирног споразума.

(д) Сваки износ превремене отплате одбија се од преосталих рата по обрнутом редоследу доспећа.

(е) Зајмопримац не може поновно да позајми било који Кредит, у целини или делимично, који је превремено отплаћен или отказан.

11 ДОДАТНЕ ОБАВЕЗЕ ПЛАЋАЊА

11.1 Трошкови и расходи

11.1.1 Ако је неопходна измена или допуна било које Финансијске документације коју је потписао Зајмодавац, Зајмопримац ће надокнадити Зајмодавцу све разумне трошкове (укључујући трошкове правника) који настану по њега у вези са одговарањем, евалуацијом, преговарањем или испуњавањем тих услова.

11.1.2 Зајмопримац ће надокнадити Зајмодавцу све трошкове и расходе (укључујући трошкове правника) који настану по њега у вези са остваривањем или очувањем било којих његових права у складу са било којом Финансијском документацијом коју је потписао Зајмодавац.

11.1.3 Зајмопримац ће непосредно платити, или, према потреби, обештетити Зајмодавца у случају авансне уплате од стране Зајмодавца за износ свих трошкова и расхода везаних за пренос средстава Зајмопримцу или за његов рачун из Париза у било које друго место о коме се постигне договор са Зајмодавцем, као и све накнаде и трошкове за пренос средстава везане за плаћање свих износа доспелих за плаћање по основу Кредита.

11.2 Обештећење за отказ Кредита

Ако је Кредит отказан у целини или делимично у складу са одредбама чланова 10.3 (Отказ Кредита од стране Зајмопримца) и/или 10.4 (Отказ Кредита од стране Зајмодавца), ставови (а) и (б) Оквирног споразума, Зајмопримац ће платити обештећење за отказ обрачунато по стопи од два кома пет одсто (2,5%) на отказани износ Кредита.

Свако обештећење за отказ доспева за плаћање на Дан плаћања који непосредно следи након отказа Кредита у целини или делимично.

11.3 Обештећење за превремену отплату Кредита

Ради надокнаде губитака које Зајмодавац претрпи услед превремене отплате Кредита у целини или делимично у складу са члановима 10.1 (Добровољна превремена отплата Кредита) или 10.2 (Обавезна превремена отплата Кредита) Оквирног споразума, Зајмопримац ће Зајмодавцу исплатити обештећење једнако збиру:

(а) Обештећење за превремену отплату; и

(б) свих трошкова који настану услед раскида евентуалних своп трансакција ради хеџинга каматне стопе у које је Зајмодавац ступио у вези са износом превремене отплате.

11.4 Порези и накнаде

11.4.1 Трошкови регистрације

Зајмопримац ће непосредно платити, или, према потреби, обештетити Зајмодавца у случају да је Зајмодавац извршио авансну уплату, за све административне таксе, трошкове регистрације и сличне таксе које се плаћају у вези са свом Финансијском документацијом и евентуалним изменама и допунама Финансијске документације коју је потписао Зајмодавац.

11.4.2 Порез по одбитку

Зајмопримац ће се постарати да сва плаћања извршена Зајмодавцу у складу са Финансијском документацијом коју је потписао Зајмодавац буду ослобођења Пореза по одбитку у складу са међудржавним споразумом закљученим између Републике Србије и Републике Француске на дан 25. фебруара 2019. године.

Ако је плаћање Пореза по одбитку законска обавеза, Зајмопримац преузима обавезу да претвори свако такво плаћање у бруто износ који Зајмопримцу омогућава да прими уплату једнаку уплати коју би примио да није било обавезно плаћање Пореза по одбитку.

Зајмопримац ће Зајмодавца обештетити за све расходе и/или Порезе које је Зајмодавац платио за рачун Зајмопримца (ако постоје), са изузетком евентуалних пореза који доспевају на наплату у Француској.

11.5 Додатни трошкови

Зајмопримац ће Зајмодавцу платити, у року од десет (10) Радних дана на захтев Зајмодавца, све Додатне трошкове које Зајмодавац сноси услед:

(i) ступања на снагу новог или измене и допуне било ког закона или прописа, или измене тумачења или примене било ког постојећег закона или прописа; или (ii) поштовања било ког закона или прописа који ступи на снагу након Дана потписивања.

У смислу овог члана, „Додатни трошковиˮ су:

(а) сви трошкови који настану након Дана потписивања услед једног од случајева из првог става овог члана које Зајмодавац није узео у обзир приликом обрачунавања финансијских услова Кредита; или

(б) свако смањење сваког износа који доспева за наплату у складу са Оквирним споразумом;

које плаћа или сноси Зајмодавац у мери у којој се то може приписати закључењу Финансијске документације од стране Зајмодавца или финансирању или извршењу његових обавеза у складу са Финансијском документацијом.

11.6 Валутно обештећење

Ако било који износ који је Зајмопримац дужан да плати у складу са Финансијском документацијом коју је потписао Зајмодавац, или било који налог, пресуда или одлука донета или усвојена у односу на такав износ, мора да буде конвертован из валуте у којој је тај износ платив у другу валуту, за потребе:

(ц) пријављивања или подношења потраживања или доказа против Зајмопримца; или

(д) исходовања или извршења налога, пресуде или одлуке у вези са било којим судским или арбитражним поступком,

Зајмопримац ће обештетити, у року од десет (10) Радних дана од захтева Зајмодавца и у мери у којој је то допуштено законом, Зајмодавца за износ свих трошкова, губитака или обавеза које настану услед те конверзије, укључујући и сваку разлику између (А) девизног курса коришћеног за конверзију релевантног износа из прве у другу валуту; и (Б) девизног курса, односно курсева који су доступни Зајмодавцу у тренутку његовог пријема тог износа. Та обавеза обештећења

Зајмодавца важи без обзира на било коју другу обавезу Зајмопримца у складу са Финансијском документацијом у којој је Зајмодавац страна.

Зајмопримац се одриче свих права које може имати у било којој јурисдикцији за плаћање било ког износа који доспева за наплату у складу са Финансијском документацијом коју је потписао Зајмодавац у валути или валутама осим у оној у којој је тај износ изражен.

11.7 Дани доспећа

Свако обештећење или надокнада коју је Зајмопримац дужан да плати Зајмодавцу у складу са чланом 11 (Додатне обавезе плаћења) Оквирног споразума доспева за плаћање на Дан плаћања који непосредно следи након настанка околности које су довеле до обавезе плаћања одговарајућег обештећења или надокнаде.

Без обзира на напред наведено, свако обештећење које се плаћа у вези са превременом отплатом у складу са чланом 11.3 (Обештећење за превремену отплату Кредита) Оквирног споразума доспева за плаћање на дан одговарајуће превремене отплате.

12 ИЗЈАВЕ И ГАРАНЦИЈЕ

Зајмопримац даје све изјаве и гаранције из овог члана 12 (Изјаве и гаранције) у корист Зајмодавца на Дан потписивања Оквирног споразума.

Такође се сматра да Зајмопримац даје све изјаве и гаранције из овог члана 12 (Изјаве и гаранције) на Дан потписивања сваког Посебног споразума, на дан на који су испуњени сви услови из Дела III и IV Прилога 3 (Претходни услови) Оквирног споразума, на дан сваког Захтева за повлачење средстава, осим што се сматра да је Зајмопримац дао поновљене изјаве из члана 12.9 (Одсуство информација које наводе у заблуду) Оквирног споразума у вези са информацијама које је Зајмодавац дао од дана последњег давања те изјаве.

12.1 Овлашћења и надлежност

Зајмопримац је овлашћен да закључи, потпише и овери Финансијску документацију и изврши све предвиђене обавезе. Зајмопримац је предузео све радње неопходне ради стицања овлашћења за закључивање, потписивање и оверу Финансијске документације и извршење трансакција предвиђених том Финансијском документацијом.

12.2 Ваљаност и прихватљивост у сврхе доказивања

Сва овлашћења која су потребна:

(а) да се Зајмопримцу омогући да законито потпише Финансијску документацију и оствари своја права и испуни своје обавезе у вези са њом; и

(б) да Финансијску документацију учини прихватљивом у сврхе доказивања пред судом у јурисдикцији Зајмопримца или у

арбитражном поступку из члана 19 (Меродавно право, извршење и избор седишта) Оквирног споразума,

прибављена су и важећа, и не постоје никакве околности које би за последицу могле имати повлачење, непродужавање или измену тих Овлашћења, како у целини тако и делимично.

12.3 Извршивост обавеза

Изражене обавезе које ће Зајмопримац преузети у складу са Финансијском документацијом испуњавају услове из свих закона и прописа који се примењују на Зајмопримца у његовој јурисдикцији и легалне су, ваљане, обавезујуће и извршиве обавезе које имају дејство у складу са њиховим писменим условима.

12.4 Ослобођење од такси за упис или регистрацију

У складу са законима јурисдикције Зајмопримца, није неопходно да Финансијска документација буде уписана, регистрована или заведена код било ког суда или другог органа у тој јурисдикцији нити да било какве таксе или накнаде за упис и регистрацију буду плаћене за Финансијску документацију или у вези са њом или са трансакцијама које су предвиђене њом.

12.5 Пренос средстава

Сви износи које је Зајмопримац дужан да исплати Зајмодавцу у складу са Финансијском документацијом, било да је реч о главници или камати, камати за доцњу, Обештећењу за превремену отплату, додатних трошкова и расхода, као и било који други износ, слободно се могу пренети у Француску или било коју другу земљу.

Ова изјава остаје на снази и примењује се у потпуности све до потпуне отплате свих износа који се плаћају Зајмодавцу. У случају да Зајмодавац продужи рокове отплате Кредита, није потребна никаква даља потврда ове изјаве.

Зајмопримац ће на одговарајући начин прибавити евре неопходне за испуњење услова из ове изјаве.

У случају настанка било каквих тешкоћа из било којих разлога у погледу права Зајмодавца на конверзију и слободан пренос било ког износа из Оквирног споразума, и то нарочито: (i) ступања на снагу новог или измене и допуне било ког закона или прописа, или измене тумачења или примене било ког постојећег закона или прописа; или (ii) поштовања било ког закона или прописа који ступи на снагу након Дана потписивања; Зајмодавац ће, без одлагања, прибавити све неопходне потврде/дозволе од надлежних органа (укључујући и Народну банку Србије) да би се обезбедила слободна конвертибилност и преносивост свих износа који се плаћају у складу са Оквирним споразумом.

12.6 Одсуство сукоба са другим обавезама

Закључење и извршење Финансијске документације и трансакција које су њоме предвиђене од стране Зајмопримца не доводи до сукоба са било којим домаћим или иностраним законом или прописом који се односи на њега, његовим уставноправним документима (или другим сличним документима) или било којим споразумом или инструментом који је обавезујући за Зајмопримца или који утиче на било коју његову имовину.

12.7 Меродавно право и извршење

(а) Право Француске је меродавно право у погледу Финансијских докумената и њега ће признати и спроводити судови и арбитражна судови у јурисдикцији Зајмопримца.

(б) Било која судска одлука донета у погледу Финансијске документације у суду Француске или било која одлука арбитражног суда признаће се и спроводити у јурисдикцији у којој Зајмопримац има седиште.

12.8 Одсуство неизвршења обавеза

Случај неизвршења обавеза није у току нити постоји разумна вероватноћа да ће такав случај наступити.

Зајмопримац не крши ниједан споразум који је обавезујући за њега или утиче на његову имовину који има или постоји разумна вероватноћа да ће имати Значајне негативне последице.

12.9 Одсуство информација које наводе у заблуду

Све информације и документација које је Зајмопримац доставио Зајмодавцу били су истинити, тачни и ажурни на дан достављања, или, према случају, на дан који је наведен као дан достављања, и нису измењени, опозвани, поништени или продужени под промењеним условима, и не наводе у заблуду на било који значајан начин услед изостављања података, настанка нових околности или откривања или неоткривања било каквих информација.

12.10 Статус pari passu

Потраживања Зајмодавца по основу Финансијских докумената које је Зајмодавац потписао имају у најмању руку статус pari passu са потраживањима свих других стечајних и разлучних поверилаца Зајмопримца.

12.11 Законито порекло средстава и Забрањене радње

Зајмопримац изјављује и гарантује:

(а) да сва средства опредељена за подршку Програму потичу или ће потицати из средстава Кредита и Суфинансирања, у складу са

„Закон о буџету Републике Србије за 2023. годинуˮ (Закон о буџету Републике Србије за 2023. годину, „Службени гласник РСˮ број

138/2022), као и додатним законима којима се усваја буџет Републике Србије;

(б) да Програм за последицу нема никакву Забрањену радњу.

12.12 Одсуство Значајних негативних последица

Зајмопримац изјављује и гарантује да није наступио нити постоји вероватноћа да ће наступити било какав случај нити околност која може имати Значајне негативне последице.

12.13 Одрицање од имунитета

Ако, и у мери у којој се Зајмопримац може тренутно или у будућности у било којој јурисдикцији позвати на имунитет за себе или своју имовину, и у мери у којој таква јурисдикција допусти Зајмопримцу коришћење имунитета, Зајмопримац неће имати право да се у своју корист или у корист било које своје имовину позове на имунитет од тужбе, извршења, пленидбе или друге правне радње у вези са овим оквирним споразумом у пуној мери у којој је до допуштено законима такве јурисдикције.

Зајмопримац се не одриче било каквог имунитета у погледу било којих садашњих или будућих (i) „просторија мисијеˮ у складу са дефиницијом из Бечке конвенције о дипломатским односима из 1961. године, (ii)

„конзуларних просторијаˮ у складу са дефиницијом из Бечке конвенције о конзуларним односима из 1963. године, (iii) имовине која није предмет правног промета, (iv) војне имовине и објеката, оружја и опреме намењених одбрани и државној и јавној безбедности, (v) потраживања чији је пренос ограничен законом, (vi) природних богатстава, добара у општој употреби, мрежа у јавној својини, водног земљишта и водних објеката у јавној својини, заштићених природних добара у јавној својини, културних добара у јавној својини, (vii) непокретности у јавној својини које, у целини или делимично, користе органи Републике Србије, аутономне покрајине и јединице локалне самоуправе за остваривање њихових права и дужности; (viii) удела односно акција које јавна предузећа и привредна друштва чији је власник Република Србија, аутономна покрајина или јединица локалне самоуправе имају у привредним друштвима, осим уколико постоји сагласност Републике Србије, аутономне покрајине или јединице локалне самоуправе на успостављање залоге на тим уделима, односно акцијама; (ix) покретних и непокретних ствари које користе здравствене установе, осим у случајевима у којима је хипотека заснована на основу одлуке Владе; (x) новчаних средстава и финансијских инструмената који су утврђени као средство обезбеђења у складу са законом којим се уређује финансијско обезбеђење, укључујући новчана средства и финансијске инструменте на којима је установљено заложно право у складу са тим законом; или

(xi) других права и ствари који су међународним правом или међународним уговором изузети од извршења.

13 ОБАВЕЗЕ

Обавезе из овог члана 13 (Обавезе) ступају на снагу Даном ступања на снагу.

Све обавезе из овог члана 13 (Обавезе) остају на снази и примењују се у потпуности све док постоји било који неизмирени износ у складу са Финансијском документацијом.

13.1 Поштовање закона и прописа

Зајмопримац ће поштовати:

(а) у свим стварима, све законе и прописе који се примењују на њега и/или на Програм, и то нарочито у погледу свих примењивих закона о заштити животне средине, безбедности и здрављу на раду и радним односима и спречавању и борби против Забрањених радњи; и

(б) све своје обавезе у складу са Финансијском документацијом.

13.2 Овлашћења

Зајмопримац ће без одлагања прибавити, поштовати и учинити све што је потребно да омогући пуну примену и важење било ког Овлашћења неопходног у складу са било којим примењивим законом или прописом како би му се омогућило да извршава своје обавезе у складу са Финансијском документацијом и како би се обезбедила законитост, ваљаност, извршивост и прихватљивост у сврхе доказивања било које Финансијске документације.

13.3 Реализација и одржавање Програма

Зајмопримац ће:

(а) реализовати Програм у складу са општеприхваћеним начелима и важећим техничким стандардима; и

(б) одржавати Програм у складу са свим примењивим законима и прописима и у добром радном и исправном стању, и користити сву релевантну имовину наменски и у складу са свим примењивим законима и прописима.

13.4 Одговорност за заштиту животне средине и друштва

13.4.1 Примена мера заштите животне средине и друштва

У циљу подстицања одрживог развоја, Стране су сагласне о неопходности подстицања поштовања међународно прихваћених стандарда заштите животне средине и рада, укључујући и основне конвенције Међународне организације рада („МОРˮ ) и међународно право и прописе о заштити животне средине који су на снази у јурисдикцији Зајмопримца.

13.4.2 Управљање жалбама у погледу питања заштите животне средине и друштва

(а) Зајмодавац (i) потврђује да је примио примерак Правилника о Жалбеном механизму у погледу питања заштите животне средине и друштва и прихватио његове услове, и то

нарочито у погледу радњи које Зајмодавац може извршити у случају да треће лице поднесе жалбу, и (ii) признаје да тај Правилник о Жалбеном механизму у погледу питања заштите животне средине и друштва има једнако уговорно обавезујуће дејство на однос између Зајмопримца и Зајмодавца као овај оквирни споразум.

(б) Зајмодавац изричито овлашћује Зајмопримца да експертима (у складу са дефиницијом из Правилника о Жалбеном механизму у погледу питања заштите животне средине и друштва) и лицима укљученим у процесе обезбеђења поштовања прописа и/или мирног решавања спорова открије Програмску документацију која се односи на заштиту животне средине и друштва неопходну ради обраде жалби у погледу питања заштите животне средине и друштва, укључујући нарочито ону наведену у Прилогу 6 (Нетаксативни списак документације о заштити животне средине и друштва чије објављивање Зајмопримац допушта у складу са Правилником о Жалбеном механизму у погледу питања заштите животне средине и друштва).

13.5 Статус pari passu

Зајмопримац преузима обавезу (i) да се постара да потраживања Зајмодавца по основу Финансијске документације имају најмање статус pari passu у односу на друге садашња и будућа стечајна и разлучна потраживања Зајмопримца; (ii) да не пружи приоритетни статус или гаранцију било ком зајмодавцу осим ако Зајмопримац не пружи исти статус или гаранцију у корист Зајмодавца, ако то Зајмодавац затражи.

13.6 Вршење надзора

Зајмопримац овим овлашћује Зајмодавца и његове представнике да изврше надзор у сврху процене реализације Програма у погледу његових техничких, финансијских и институционалних аспеката.

Зајмопримац ће сарађивати са Зајмодавцем и његовим представницима и пружити им сву разумну помоћ и информације при вршењу таквог надзора, чије ће време и начин утврдити Зајмодавац након што се о томе консултује са Зајмопримцем.

13.7 Вредновање Програма

Зајмопримац је сагласан да Зајмодавац може вршити, или ангажовати треће лице да за његов рачун изврши, вредновање Програма. То вредновање ће се искористити за израду извештаја о учинку који ће садржавати информације о Програму као што су: укупан износ и трајање Кредита, циљеви Програма, очекивани и стварни учинак Програма и оцена његове релевантности, ефикасности, утицаја и изводљивости/одрживости.

Главни циљ вредновања биће израда уверљивог и независног суда о кључним питањима релевантности, спровођења (ефикасности) и дејства (сврсисходности, утицаја и одрживости).

Document Metadata

Table of Contents

FRAMEWORK AGREEMENT N° CRS1025

Document Metadata

FRAMEWORK AGREEMENT N° CRS1025

ПРЕДЛОГ

З А К О Н

О ПОТВРЂИВАЊУ ОКВИРНОГ СПОРАЗУМА БРОЈ ЦРС1025 О КРЕДИТНИМ ЛИНИЈАМА ЗА ФИНАНСИРАЊЕ ПРОГРАМСКЕ ОПЕРАЦИЈЕ ЗА

РАЗВОЈНУ ПОЛИТИКУ ЗЕЛЕНОГ РАСТА У СРБИЈИ ИЗМЕЂУ ФРАНЦУСКЕ АГЕНЦИЈЕ ЗА РАЗВОЈ, КАО ЗАЈМОДАВЦА И РЕПУБЛИКЕ

СРБИЈЕ, КАО ЗАЈМОПРИМЦА

Члан 1.

Члан 2.

FRAMEWORK AGREEMENT N° CRS1025

ON CREDIT FACILITIES FOR THE FINANCING OF THE SERBIA GREEN AGENDA PROGRAMMATIC DEVELOPMENT POLICY OPERATION

dated as of 26 June 2023

between

AGENCE FRANCAISE DE DEVELOPPEMENT

and

THE REPUBLIC OF SERBIA

TABLE OF CONTENTS

1 DEFINITIONS AND CONSTRUCTION 7

2 PURPOSE OF THE FRAMEWORK AGREEMENT 7

3 DURATION OF THE FRAMEWORK AGREEMENT 7

4 AMOUNT, PURPOSE AND CONDITIONS OF UTILISATION 8

5 DRAWDOWN OF FUNDS 9

6 INTEREST APPLICABLE TO A CREDIT 10

7 CHANGE TO THE CALCULATION OF INTEREST APPLICABLE TO A CREDIT 13

8 FEES APPLICABLE TO A CREDIT 14

9 CREDITS REPAYMENT 15

10 PREPAYMENT AND CANCELLATION OF A CREDIT 15

11 ADDITIONAL PAYMENT OBLIGATIONS 17

12 REPRESENTATIONS AND WARRANTIES 19

13 UNDERTAKINGS 22

14 INFORMATION UNDERTAKINGS 25

15 EVENTS OF DEFAULTS UNDER THE CREDITS 25

16 ADMINISTRATION OF CREDITS 28

17 MISCELLANEOUS 30

18 NOTICES 32

19 GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE 33

SCHEDULE 1A – PROGRAM DESCRIPTION 36

SCHEDULE 1B – FINANCING PLAN 43

SCHEDULE 2 – DEFINITIONS & CONSTRUCTION 44

SCHEDULE 3 – CONDITIONS PRECEDENT 54

SCHEDULE 4 – FORMS FOR THE DRAWDOWNS UNDER A CREDIT 57

SCHEDULE 5 - INFORMATION THAT MAY BE PUBLISHED ON THE FRENCH GOVERNMENT WEBSITE AND THE LENDER’S WEBSITE 63

SCHEDULE 6 - NON-EXHAUSTIVE LIST OF ENVIRONMENTAL AND SOCIAL DOCUMENTS WHICH THE BORROWER PERMITS TO BE DISCLOSED IN CONNECTION WITH ES COMPLAINTS-MANAGEMENT MECHANISM’S RULES

OF PROCEDURE 64

FRAMEWORK AGREEMENT FOR CREDIT FACILITIES FOR THE FINANCING OF THE SERBIA GREEN AGENDA PROGRAMMATIC DEVELOPMENT POLICY OPERATION

BETWEEN:

REPUBLIC OF SERBIA represented by the Government of the Republic of Serbia, through Minister of Finance, Mr. Xxxxxx Xxxx, duly authorised to sign the Framework Agreement,

AND

WHEREAS:

THEREFORE THE PARTIES HAVE AGREED AS FOLLOWS:

1 DEFINITIONS AND CONSTRUCTION

2 PURPOSE OF THE FRAMEWORK AGREEMENT

3 DURATION OF THE FRAMEWORK AGREEMENT

4 AMOUNT, PURPOSE AND CONDITIONS OF UTILISATION

5 DRAWDOWN OF FUNDS

6 INTEREST APPLICABLE TO A CREDIT

7 CHANGE TO THE CALCULATION OF INTEREST APPLICABLE TO A CREDIT

8 FEES APPLICABLE TO A CREDIT

9 CREDITS REPAYMENT

10 PREPAYMENT AND CANCELLATION OF A CREDIT

11 ADDITIONAL PAYMENT OBLIGATIONS

12 REPRESENTATIONS AND WARRANTIES

13 UNDERTAKINGS

14 INFORMATION UNDERTAKINGS

15 EVENTS OF DEFAULTS UNDER THE CREDITS

16 ADMINISTRATION OF CREDITS

17 MISCELLANEOUS

18 NOTICES

MINISTRY OF FINANCE

AFD – BELGRADE - WESTERN BALKANS REGIONAL OFFICE

19 GOVERNING LAW, ENFORCEMENT AND CHOICE OF DOMICILE

SCHEDULE 1A – PrOGRAM DESCRIPTION

SCHEDULE 1B – FINANCING PLAN

SCHEDULE 2 – DEFINITIONS & CONSTRUCTION

PART I - DEFINITIONS

PART II – CONSTRUCTION

SCHEDULE 3 – CONDITIONS PRECEDENT

Part I – Conditions Precedent to the Signing of the Framework Agreement and the First Credit Specific Agreement

Part II – Conditions Precedent to the Signing of the Second Credit Specific Agreement

Part III – Conditions Precedent to the Effectiveness of the Framework Agreement and the First Credit Specific Agreement and the Drawdown of the First Credit

A- Conditions Precedent to the Effectiveness of the Framework Agreement and the First Credit Specific Agreement