Article 3
1. The loan shall be made available to Algeria in two instalments. The first instalment shall be released on the basis: - of the IMF 'Standby Arrangement' and the World Bank structural adjustment loan agreed in June 1991 with Algeria, - of an arrangement between Algeria and its commercial bank creditors on improving the country's future debt servicing and repayment profile through new loans and/or new refinancing agreements. 2. The second instalment shall be released after a period of at least two quarters subject to the provisions of Article 2 (2). 3. The funds shall be paid to the National Bank of Algeria.