Uvod
LD 1981 ADD 2 (2026)
FRAMEWORK LOAN AGREEMENT
between
COUNCIL OF EUROPE DEVELOPMENT BANK
and
REPUBLIC OF SERBIA
Renovation of Health Centers Public Sector Financing Facility
TABLE OF CONTENTS
1. INTERPRETATION ......................................................................................................................... 5
1.1 DEFINITIONS .............................................................................................................................. 5 1.2 CONSTRUCTION ......................................................................................................................... 8 1.3 HEADINGS ................................................................................................................................. 8 1.4 ROUNDING ................................................................................................................................. 9
2. CONDITIONS .................................................................................................................................. 9
3. PURPOSE ....................................................................................................................................... 9
4. FINANCIAL CONDITIONS .............................................................................................................. 9
4.1 LOAN AMOUNT ........................................................................................................................... 9 4.2 DISBURSEMENT AMOUNT .......................................................................................................... 10 4.3 DISBURSEMENT PROCEDURE .................................................................................................... 10 4.4 DISBURSEMENT PERIOD ........................................................................................................... 11 4.5 DISBURSEMENT CONDITIONS .................................................................................................... 11 4.6 REPAYMENT ............................................................................................................................ 12 4.7 PREPAYMENT........................................................................................................................... 12 4.8 INTEREST DETERMINATION ....................................................................................................... 13 4.9 DEFAULT INTEREST RATE ......................................................................................................... 13 4.10 MARKET DISRUPTION EVENT .................................................................................................... 13 4.11 PAYMENTS............................................................................................................................... 15
5. PROJECT IMPLEMENTATION .................................................................................................... 15
5.1 DUTY OF CARE ........................................................................................................................ 15 5.2 ALLOCATION PERIOD ................................................................................................................ 16 5.3 PROJECT COSTS ...................................................................................................................... 16 5.4 PROJECT SPECIFIC UNDERTAKINGS .......................................................................................... 16 5.5 PROCUREMENT ........................................................................................................................ 16 5.6 ENVIRONMENTAL AND SOCIAL SAFEGUARDS ............................................................................. 17 5.7 HUMAN RIGHTS........................................................................................................................ 17 5.8 INTEGRITY ............................................................................................................................... 17 5.9 VISIBILITY ................................................................................................................................ 18
6. MONITORING ............................................................................................................................... 18
6.1 REPORTING ............................................................................................................................. 18 6.2 VISITS ..................................................................................................................................... 19 6.3 AUDIT ...................................................................................................................................... 19 6.4 PROJECT INFORMATION ............................................................................................................ 19 6.5 BORROWER INFORMATION ........................................................................................................ 20 6.6 FINANCIAL COVENANTS ............................................................................................................ 20
7. PARI PASSU ................................................................................................................................. 20
7.1 RANKING ................................................................................................................................. 21 7.2 SECURITY ................................................................................................................................ 21 7.3 CLAUSE BY INCLUSION ............................................................................................................. 21 7.4 PREPAYMENT TO THIRD PARTIES .............................................................................................. 22
8. REPRESENTATIONS AND WARRANTIES ................................................................................. 22
9. THIRD PARTIES ........................................................................................................................... 23
10. NON-WAIVER ........................................................................................................................... 23
11. TRANSFER ............................................................................................................................... 23
12. ILLEGALITY .............................................................................................................................. 23
13. NO HARDSHIP .......................................................................................................................... 24
14. GOVERNING LAW .................................................................................................................... 24
15. DISPUTES ................................................................................................................................. 24
16. DATA PROTECTION ................................................................................................................ 24
17. NOTICES ................................................................................................................................... 25
18. TAXES AND EXPENSES ......................................................................................................... 26
19. DISCHARGE ............................................................................................................................. 26
20. ENTRY INTO FORCE ............................................................................................................... 27
APPENDIX 1 ......................................................................................................................................... 29
APPENDIX 2 ......................................................................................................................................... 34
APPENDIX 3 ......................................................................................................................................... 36
APPENDIX 4 ......................................................................................................................................... 38
APPENDIX 5 ......................................................................................................................................... 39
COUNCIL OF EUROPE DEVELOPMENT BANK, international organisation with its headquarters at 55, avenue Kléber, 75116 Paris (France) (hereinafter, the “CEB” or the “Bank”), on the one hand,
and
The REPUBLIC OF SERBIA, (hereinafter, the “Borrower” and together with the CEB, the “Parties” and each a “Party”), on the other hand,
WHEREAS
(A) Having regard to the Framework Loan Agreement between the Parties dated
15 April 2019 with reference LD 1981 (2018) (the "Original Agreement") under which the CEB agreed to make available to the Borrower a loan in the amount of EUR 200,000,000 (the "Initial Loan"),
(B) Having regard to the Framework Loan Agreement between the Parties dated
28 March 2023 with reference LD 1981 Add1 (2022) pursuant to which an additional loan of EUR 200,000,000 ("Addendum No. 1 Loan") has been granted to the Borrower (hereinafter, the “Addendum No. 1 Agreement”) increasing the financing to be applied to the project originally identified under the Original Agreement,
(C) Having regard to Amendment N°1 to the Addendum No. 1 Agreement dated
23 April 2024,
(D) Having regard to the loan application submitted by the Republic of Serbia
through its Ministry of Finance on 19th February 2026 whereas the Borrower requested to increase the amount of the Initial Loan as increased by Addendum No. 1 Loan, by one hundred and ten million Euros (EUR 110,000,000), for the partial financing of the Republic of Serbia's Public Financing Facility for health and social care with reference LD 1981 ADD 2 (2026),
(E) Having regard to the CEB’s Administrative Council approval on 16th March
2026 of the said loan application, increasing the Initial Loan as previously increased by the Addendum No. 1 Loan by one hundred and ten million Euros (EUR 110,000,000), for the partial financing of the Republic of Serbia's Public Financing Facility for health and social care with reference LD 1981 ADD 2 (2026),
(F) Having regard to the Third Protocol dated 6 March 1959 to the General
Agreement on Privileges and Immunities of the Council of Europe dated 2 September 1949,
(G) Having regard to the CEB’s Loan Regulations, as adopted by the CEB’s
Administrative Council Resolution 1587 (2016) (hereinafter, the “Loan Regulations”),
(H) Having regard to the CEB’s Loan and Project Financing Policy, as adopted by
the CEB’s Administrative Council Resolution 1646 (2022) (hereinafter, the “Loan Policy”),
(I) Having regard to the CEB’s Environmental and Social Safeguards Policy, as
adopted by the CEB’s Administrative Council Resolution 1588 (2016) (hereinafter, the “Environmental and Social Safeguards Policy”),
(J) Having regard to the CEB’s Procurement Guidelines, as adopted by the
CEB’s Administrative Council in September 2011 (hereinafter, the “Procurement Guidelines”),
(K) Having regard to the CEB’s Data Protection Regulation, as adopted by the
CEB’s Administrative Council Resolution 1639 (2022) (hereinafter, the “Data Protection Regulation”),
(L) Having regard to the CEB’s Anti-Corruption Charter, as adopted by the CEB’s
Administrative Council Resolution 1628 (2021), and
(M) Having regard to the CEB’s Policy on Non-compliant/Uncooperative
Jurisdictions, as adopted by the CEB’s Administrative Council Resolution 1630 (2021),
(N) The Parties mutually acknowledge that the CEB, as a multilateral international
financial institution, enjoys a “preferred creditor status”,
HEREBY AGREE AS FOLLOWS: