Summary of Nam Theun 2 documents signed between 25 - 29 April 2005

In an exciting week for the Nam Theun 2 Project, the finance agreements between NTPC, the GOL and the commercial and international lenders providing the necessary funding for the project, have been signed. These include the following:

• The finance documents between NTPC and the commercial lenders (with approval from the Government). The loan agreements between NTPC and the commercial lenders are for approximately $700 million;
  
  
• revisions to the shareholding structure of NTPC, in order to enable the shareholders to contribute their equity portions of $350 million of the Project Development Costs;
  
  
• agreements with the International Financial Institutions which are providing the government with their equity for the project, including the terms on which they are lending the funds needed by the government for its 25% equity into the Project, as well as the terms on which the government will facilitate and permit the lenders' role in the Project. These loans amount to around $100 million;
  
  
• the World Bank and Asian Development Bank partial risk guarantees of the commercial lenders; and
  
  
• amendments to the Concession Agreement to reflect developments since the original Concession Agreement was executed. These changes include amendments to the environmental and social conditions of the Project, to reflect the revised Social and Environmental Plans.