Honduras - El Cajon Power Project : Credit 0989 - Development Credit Agreement - 1 - Conformed

DOCMINTS ~<gqIt Amending Agreement to the Joint Financing Agreement (El Caj6n Power Project) Dated March 27, 1980 between REPUBLIC OF HONDURAS and BANCO CENTROAMERICANO DE INTEGRACION ECONOMICA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and INTERNATIONAL DEVELOPMENT ASSOCIATION and EMPRESA NACIONAL DE ENERGIA ELECTRICA AMENDING AGREEMENT WHEREAS the Republic of Honduras (hereinafter called the Republic), Banco Centroamericano de Integraci6n Econ6mica (here- inafter called BCIE), International Bank for Reconstruction and Development (hereinafter called the Bank), International Develop- ment Association (hereinafter called IDA) and Empresa Nacional de Energia El5ctrica (hereinafter called the Borrower) have entered into a Joint Financing Agreement dated March 27, 1980 (hereinafter called the Joint Financing Agreement) which regulates matters concerning the financing by the Republic, BCIE, the Bank, IDA and the Borrower of certain parts of the El Caj6n Power Project which is described in the Schedule to the Joint Financing Agree- ment; WHEREAS the Commonwealth Development Corporation (hereinafter called CDC) has agreed to make to the Borrower a loan not exceed- ing five million Pounds Sterling (hereinafter called the CDC Loan) on the terms and conditions set forth in the Loan Agreement dated November 21, 1980 between CDC and the Borrower (hereinafter called the CDC Loan Agreement) concerning the financing of the same parts of the El Caj6n Power Project being co-financed by the Bank, IDA and BCIE; WHEREAS the parties to the Joint Financing Agreement have agreed to amend such Agreement in order to reflect the participa- tion of CDC in the financing of the Project and to describe in more detail the parts of the Project being jointly financed by the parties to the Joint Financing Agreement and CDC; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I The Joint Financing Agreement is hereby amended as follows: (a) by deleting Section 2.04 and substituting therefor: "Section 2.04. Subject to the provisions of their respective agreements, BCIE shall finance 32.4% of the expenditures (excluding cement supply) incurred by the Borrower in connection with the parts of the Project described as the Powerhouse Package in Part II of the Sched- ule to this Agreement and BANK/IDA shall finance 29.2% of -2- such expenditures, it being the intention that the whole amount of such expenditures shall be met at about the same time by disbursements also of the CDC Loan and contributions by the Borrower in approximately the following percentages of such expenditures: the Borrower 27.8% and CDC 10.6%". (b) By adding a new Section 3.08 to read: "Section 3.08. BCIE hereby authorizes the Bank and IDA to supply to CDC all pertinent information regarding the BCIE Loan, disbursements made thereunder, BCIE's financing of the Powerhouse Package, the service of the BCIE Loan, this Agreement and any other information received from BCIE with regard to the financing and execution of the Project, which in the opinion of the Bank and IDA may be of interest to CDC." (c) By adding the following Part II to the Schedule to the Joint Financing Agreement: "PART II Description of the Powerhouse Package The civil works for the underground powerhouse (cavern), access tunnel, control building, switchyard, inclined parts of the pressure shafts, tailrace tunnels, access road to switchyard, extension of substations, supply and installation of certain electromechanical equipment and erection and installation of other equipment and of hydraulic steel structures as the same are included in the proposed contract documents for that part of the Project works known for contracting purposes as Lot VII-l." ARTICLE II This Agreement shall come into force and effect upon its signature by all the parties hereto. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused this -3- Agreement to be signed in their respective names, as of the dates below written. REPUBLIC OF HONDURAS By1~ Da te: BANCO CENTROAMERICANO DE INTEGRACION ECONOMICA By/f Date: ~Je21e~./6 &Yl INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By/ Date: o INTERNATIONAL DEVELOPMENT ASSOCIATION By Ia, Date: EMPRESA NACIONAL DE ENERGIA ELECTRICA By Date: /hi~ 6,/f INTERNATIONAL DEVELOPMENT ASSOCIATION CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the Interna- tional Development Association. In witness whereof I have signed this Certifi- cate and affixed the Seal of the Association thereunto the -day of 1984. FOR SECRETARY INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the Interna- tional Bank for Reconstruction and Develop- ment. In witness whereof I have signed this Certifi- cate and affixed the Seal of the Bank thereunto this ft day of. CJ, 198 . FOR SECRETARY