Conformed Copy - L2970 - Agricultural Credit Project II - Amendment

Page 1 January 18, 1990 Mr. Hugo Santilli President Banco de la Nacion Argentina Bartolome Mitre 326 Buenos Aires Argentina Re: Loan 2970-AR (Agricultural Credit Project II) Amendment to the Loan Agreement Gentlemen: Please refer to the Loan Agreement, dated November 18, 1988, between International Bank for Reconstruction and Development (the Bank) and Banco de la Nacion Argentina (the Borrower). I am pleased to inform you that the Bank agrees to your request to increase the Authorized Allocation of the Special Account to $20,000,000 equivalent. The Bank, therefore, proposes the following amendment to the Loan Agreement: Paragraph I (c) of Schedule 7 is hereby amended to read as follows: "(c) the term "Authorized Allocation" means an amount equivalent to twenty million dollars to be withdrawn from the Loan Account and deposited in the Special Account pursuant to paragraph 3 (a) of this Schedule." Please confirm your agreement to the foregoing by signing and dating the attached confirmation copy of this letter and returning it to the undersigned. In view of the interest of the Argentine Republic in this matter, a copy of this letter is being sent to the Minister of Economy of Argentina. Yours sincerely, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By: /s/ Pieter P. Bottelier Director Country Department IV Latin America and the Caribbean Region CONFIRMED: BANCO DE LA NACION ARGENTINA By: /s/ Hugo Cesar Santilli President Authorized Representative Date: February 20, 1990 cc: Mr. Erman Gonzalez Ministro de Economia Hipolito Yrigoyen Buenos Aires, Argentina Page 2