Loan Agreement, L7259-CO - Conformed

Page 1 CONFORMED COPY LOAN NUMBER 7259 -CO Loan Agreement (Second Programmatic Labor Reform and Social Structural Adjustment Loan) between REPUBLIC OF COLOMBIA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated November 4, 2004 Page 2 LOAN NUMBER 7259-CO LOAN AGREEMENT AGREEMENT, dated November 4, 2004, between the REPUBLIC OF COLOMBIA (the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank). WHEREAS (A) pursuant to the loan provided to the Borrower under the Loan Agreement dated September 11, 2003 (Loan No. 7193-CO), the Bank has provided assistance to the Borrower in support of the first phase of the Borrower's program of actions, objectives and policies for labor and social reform, covering social protection, labor law, public health and education (the Program), as such program was described in the letter, dated August 6, 2003, from the Borrower to the Bank; (B) the Bank has received a letter, dated July 30, 2004, from the Borrower: (i) describing the Program as revised since the date of the letter referred to in (A) above, which Program consists of actions taken under the first phase referred to in (A) above, actions taken as described in Schedule 3 to this Agreement (the Second Phase of the Program), and actions and policies that the Borrower intends to take and adopt in the future; (ii) declaring the Borrower