On the basis of the agreement dated 14 July 2006 between the Government of the Federal Republic of Germany and the Government of the Republic of the Philippine on Financial Cooperation ("Government Agreement"), the Borrower and KfW hereby enter into the following Loan and Financing Agreement. KfW, Frankfurt am Main ("KfW") and Republic of the Philippines, represented by the Department of Finance ("Borrower") for 7,000,000 EUR.
