AGREEMENT, dated March 10, 1967, between Trinidad and Tobago (hereinafter called the Borrower) and International Bank for Reconstruction and Development (hereinafter called the Bank).
Article I
Loan Regulations; Special Definitions
Section 1.01. The parties to this Loan Agreement accept all the provisions of Loan Regulations No. 3 of the Bank dated February 15, 1961,[2] with the same force and effect as if they were fully set forth herein, subject, however, to the following modifications thereof (said Loan Regulations No. 3 as so modified being hereinafter called the Loan Regulations):
(a) The second sentence of Section 3.02 of the Loan Regulations shall apply only to withdrawals in respect of expenditures in currencies other than the currency of the Borrower.
(b) Section 4.01 of the Loan Regulations is deleted.
(c) Section 9.04 of the Loan Regulations is deleted.
Section 1.02. Wherever used in the Loan Agreement, unless the context otherwise requires, the following terms shall have the following meanings:
(a) "ACB" means the Agricultural Credit Bank, a body corporate established and operating under Chapter 23, No. 5 of the laws of the Borrower, as amended, and any successor thereto;
(b) "beneficiary" means any individual who has entered into arrangements with the Borrower for receipt and utilization in the Project of goods and loans all in accordance with the policies and procedures determined pursuant to Section 5.01 (c) of this Agreement;
