which term shall include these General Conditions as applied thereto, and all Schedules and agreements supplemental to the loan agreement; (ff) “Loan Currency” means the currency in which the Loan is denominated from time to time; (gg) “Loan Handbook” means the OPEC Fund Disbursement Procedures approved in November 2020 (as amended from time to time), a copy of which was furnished to the Borrower on the Date of the Agreement; (hh) “Loan Proceeds” means the funding provided by OPEC Fund pursuant to the Legal Agreement. This shall not be construed to include grants extended to the Borrower under the same Legal Agreement; (ii) “Local Currency” means the currency of the Project Country; (jj) “OPEC Fund” means the OPEC Fund for International Development, established by the Member States of the Organization of the Petroleum Exporting Countries (OPEC) by virtue of the Agreement signed in Paris on January 28, 1976, as amended on March 4, 2024; (kk) “OPEC Fund Account” means such bank account the particulars of which shall be com- municated by OPEC Fund to the Borrower from time to time; (ll) “Procurement Documents” means all documents relating to the procurement of Goods, including bidding documents, bids, bids evaluation reports, contracts, and any related supporting documents; (mm) “Procurement Framework” means the ‘Procurement Guidelines’ for Loans extended by OPEC Fund approved on November 2, 1982 (or such other document that succeeds the guidelines, as amended from time to time), a copy of which was furnished to the Borrower on the Date of the Agreement; (nn) “Project” means the project or program for which the Loan or other financing is provided as described in Schedule 1 of the Legal Agreement or, as the context may require, any part of the project or program; (oo) “Project Completion Date” means the date specified in the Legal Agreement on which the implementation of the Project is to be completed, or such later date as the OPEC Fund may designate by notice to the Borrower; (pp) “Project Country” means the country where the Project is to be executed; (qq) “Project Results Framework” means a list of key quantitative output and outcome indica- tors, as defined by the OPEC Fund for each project in coordination with the Borrower and any co-financiers, describing inter alia the main expected Project outputs and outcomes; (rr) “Public Assets” means the assets of the Borrower or of any political or administrative subdivision thereof or of any entity owned or controlled by or operating for the account or benefit of the Borrower, or any such subdivision, including gold and other foreign exchange assets held by any institution performing the functions of a central bank, exchange stabilization fund or similar functions, for the Borrower; (ss) “Public Debt” means Internal Debt and External Debt; (tt) “Reference Rate” means, for any Interest Period (as defined in the Legal Agreement), SOFR, and if that rate is less than zero, the Reference Rate shall be deemed to be zero; (uu) “Relevant Rate Page” means the display page designated by an established financial market data provider selected by the OPEC Fund as the page for the purpose of display- ing at customary publication times the Reference Rate;
OPEC FUND GENERAL CONDITIONS FOR PUBLIC SECTOR LOANS
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