Conformed Copy - L3481 - Structural Adjustment Loan - Amendment 2

Page 1 February 5, 1993 His Excellency Florin Georgescu Minister of Finance Bucharest, Romania Dear Mr. Minister: Re: The Export Import Bank of Japan Untied Loan: Amendments to World Bank Loan Agreement We refer to discussions among the Republic of Romania (the Borrower), the International Bank for Reconstruction and Development (the Bank) and The Export Import Bank of Japan. The Bank is pleased to inform you that the Loan Agreement for the Rehabilitation Loan between the Borrower and the Bank dated June 2, 1992, (3481-ROM) is amended as set forth below. Section 4.01 is amended to read as follows: "Section 4.01. Pursuant to Section 6.02 (l) of the General Conditions, the following additional events are specified: (a) a situation has arisen which shall make it improbable that the Program, or a significant part thereof, will be carried out; (b) subject to subparagraph (c) of this paragraph: (i) the right of the Borrower to withdraw the proceeds of any loan made to the Borrower by The Export Import Bank of Japan for the financing of the Project shall have been suspended, cancelled or terminated in whole or in part, pursuant to the terms of any such loan agreement, or (ii) any such loan shall have been declared due and payable by The Export Import Bank of Japan prior to the agreed maturity thereof; and (c) subparagraph (b) of this paragraph shall not apply if the Borrower establishes to the satisfaction of the Bank that: (i) such suspension, cancellation, termination or declaration is not caused by the failure of the Borrower to perform any of its obligations under such agreement; and (ii) adequate funds for the Project are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement." A new Section 4.02 is added as follows: "Section 4.02. For the purposes of Section 7.01 of the General Conditions, the following event is specified pursuant to paragraph (h) thereof, namely, that the event specified in paragraph (b) (ii) of Section 4.01 of this Agreement shall occur, subject to the proviso of paragraph (c) of that Section." Please confirm the Borrower's agreement to such amendments by signing, dating and returning to us a copy of this letter. Sincerely yours, /s/ Michael H. Wiehen Director Country Department 1 Europe and Central Asia Region Page 2 CONFIRMED: by REPUBLIC OF ROMANIA on 3/8/93\1a