Conformed Copy - C2371 - Public Works and Capacity Building Project - Agreement Amending Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 2371-1 MLI (Amendment) Agreement Amending Development Credit Agreement (Public Works and Capacity Building Project) between REPUBLIC OF MALI and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated December 16, 1994 CREDIT NUMBER 2371-1 MLI (Amendment) AGREEMENT AMENDING DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated December 16, 1994, between REPUBLIC OF MALI (the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS (A) the Borrower and the Association have entered into a Development Credit Agreement (Public Works and Capacity Building Project), dated July 17, 1992, as amended by an exchange of letters dated respectively May 20, 1993 and June 3, 1993 (hereinafter referred to as the Development Credit Agreement), for the purpose of assisting the financing of the project described in Schedule 2 to the Development Credit Agreement (the Project); (B) the Borrower has requested the Association to provide additional assistance towards the financing of the Project by increasing the amount made available under the Development Credit Agreement by an amount in various currencies equivalent to six million nine hundred thousand Special Drawing Rights (SDR 6,900,000); and Page 2 WHEREAS the Association has agreed, on the basis, inter alia, of the foregoing, to provide such additional assistance to the Borrower upon the terms and conditions set forth in this Agreement; NOW THEREFORE the parties hereto hereby agree as follows: ARTICLE I Amendments to the Development Credit Agreement Section 1.01. Section 1.02 of the Development Credit Agreement is amended by: (i) deleting the word "and" at the end of definition (f); (ii) substituting a semicolon and the word "and" for the period at the end of definition (g); and (iii) adding immediately after definition (g) the following new definition: "(h) "Amending Agreement" means the Agreement Amending the Development Credit Agreement (Public Works and Capacity Building Project) between the Borrower and the Association, dated December 16, 1994;". Section 1.02. Section 2.01 of the Development Credit Agreement is amended to read as follows: "Section 2.01. The Association agrees to lend to the Borrower, on the terms and conditions set forth or referred to in the Development Credit Agreement, an amount in various currencies equivalent to twenty one million six hundred thousand Special Drawing Rights (SDR 21,600,000) (the Credit), which includes an original amount in various currencies equivalent to fourteen million seven hundred thousand Special Drawing Rights (SDR 14,700,000) and an additional amount in various currencies equivalent to six million nine hundred thousand Special Drawing Rights (SDR 6,900,000) (the Additional Financing)." Section 1.03. Section 2.04 (b) of the Development Credit Agreement is amended by: (i) substituting a semicolon for the period at the end of the second sentence; and (ii) adding the following proviso next after the said sentence: " provided, however, that any commitment charge on the Additional Financing shall accrue from a date sixty (60) days after the date of the Amending Agreement". Section 1.04. The provisions of Section 3.01 (c)(i) (B) and (C) of the Development Credit Agreement are deleted and the following new provisions substituted therefor: "(B) execute, not later than September 30, 1996, a program of new subprojects representing an aggregate cost of $3.33 million equivalent, out of which shall be completed subprojects representing an aggregate amount of at least: (1) $450,000 equivalent during the twelve months ending September 30, 1993; (2) $600,000 equivalent during the twelve months ending September 30, 1994; (3) $1,200,000 equivalent during the twelve months ending September 30, 1995; and (4) $1,080,000 equivalent during the twelve months ending September 30, 1996; and (C) submit to the Association for approval, in addition to the initial program of selected subprojects submitted prior to the Effective Date and prior to September 30, 1993, annual programs of subprojects representing an aggregate amount of at least: (1) $10 million Page 3 equivalent not later than September 30, 1994; and (2) $7 million equivalent not later than September 30, 1995. Section 1.05. Schedule 1 to the Development Credit Agreement is amended by deleting paragraph 1 of the said Schedule and substituting therefor the following new paragraph: " SCHEDULE 1 Withdrawal of the Proceeds of the Credit 1. The table below sets forth the Categories of items to be financed out of the proceeds of the Credit, the allocation of the amounts of the Credit to each Category and the percentage of expenditures for items so to be financed in each Category: Amount of the Credit Allocated % of (Expressed in Expenditures Category SDR Equivalent) to be Financed (1) Public works 15,700,000 100% under Part A of the Project (2) Consultants' 1,800,000 100% services and training under Parts B and C of the Project (3) Equipment for 275,000 100% Agetipe-Mali (4) Operating 1,300,000 100% costs of Agetipe-Mali (5) Under Part D of 100% the Project: (a) equipment, 500,000 office supplies and vehicles (b) consultants' 265,000 services and training (6) Refunding of 1,000,000 Amount due pur- Project Prepara- suant to Section tion Advance 2.02 (c) of this Agreement (7) Unallocated 760,000 __________ TOTAL 21,600,000 ========== " ARTICLE II Effective Date; Termination Section 2.01. This Amending Agreement shall not become effective until evidence satisfactory to the Association shall have been furnished to the Association that the execution and delivery of this Amending Agreement on behalf of the Borrower have been duly authorized or ratified by all necessary governmental action. Page 4 Section 2.02. As part of the evidence to be furnished pursuant to Section 2.01 of this Amending Agreement, there shall be furnished to the Association an opinion or opinions, satisfactory to the Association, of counsel acceptable to the Association, showing, on behalf of the Borrower, that this Amending Agreement has been duly authorized or ratified by, and executed and delivered on behalf of, the Borrower and is legally binding upon the Borrower in accordance with its terms. Section 2.03. This Amending Agreement shall come into force and effect on the date upon which the Association dispatches to the Borrower notice of its acceptance of the evidence required by Section 2.01 of this Amending Agreement. Section 2.04. If this Amending Agreement shall not have come into force and effect by a date ninety (90) days after the date of this Amending Agreement, this Amending Agreement and all obligations of the parties hereunder shall terminate, unless the Association establishes a later date for the purposes of this Section. If this Amending Agreement shall terminate under the provisions of this Section, the Development Credit Agreement shall continue in full force and effect, as if this Amending Agreement had not been executed. IN WITNESS WHEREOF, the parties hereto, acting through their duly authorized representatives, have caused this Amending Agreement to be signed in their respective names in the District of Columbia, United States of America, as of the day and year first above written. REPUBLIC OF MALI By /s/ Siragatou Ibrahim Cisse INTERNATIONAL DEVELOPMENT ASSOCIATION By /s/ Edward V.K. Jaycox Regional Vice President Africa