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

of December 5, 2002

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

in accordance with the terms of the multilateral Memorandum of consolidation of the debt of the Kyrgyz Republic (further the imenuyetsyamnogostoronny Memorandum) signed on March 7, 2002 in Paris by representatives of the Government of the Kyrgyz Republic and representatives of the governments of the states creditors of the Paris Club

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

agreed as follows:

Article 1. Categories of debt

Provisions of this agreement will be applied to debt of the Kyrgyz Republic to the Russian Federation on the public credits with repayment periods more than one year provided by the Government of the Russian Federation according to the agreements signed till August 31, 2001 (further the imenuyutsyagosudarstvenny credits).

Provisions of this agreement will be applied to the specified category of debt regardless of the mechanisms of repayment established in the credit and financial agreements which are earlier concluded by the Parties.

Article 2. Ureguliruyemy amounts

The total amount of debt of the Kyrgyz Republic to the Russian Federation on principal debt and percent on the granted public credits which is subject of this agreement (further hereinafter is referred to as - the ureguliruyemy amounts), constitutes 168294625, 17 US dollars as of December 5, 2001 inclusive and is specified in appendix N 1, being integral part of this agreement.

The parties by mutual consent can make changes to the appendix N1, in case of need.

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