No-derogation engagement.
Participants shall not:
(a) derogate with respect to maximum repayment terms (whatever the form of support), to minimum interest rates or to the limitation of the validity of commitments to a maximum of six months or extend the relevant repayment terms through an extension of the grace period before the start of the repayment beyond the normal practice of six month after the starting point; or
(b) avail themselves of the possibilities provided under paragraph 15 of this Arrangement to support tied or partially untied aid financing that:
(i) has a concessionality level of less than 35 % or 50 % if the beneficiary country is a least developed country as defined by the United Nations; or
(ii) does not conform to the provisions on eligibility for aid financing in paragraph 8 (a) (ii) of this Arrangement(8).
