Conformed Copy - C2498 - Urban Transport Project - Amendment 1

Page 1 November 29, 1995 His Excellency R.K. Peprah Minister of Finance Ministry of Finance Accra, Ghana Dear Sir: Urban Transport Project (Cr 2498-GH) Amendment to the Development Credit Agreement We refer to the Development Credit Agreement (the Agreement) dated July 26, 1993, for the above mentioned project, as amended to date, between the Republic of Ghana (the Borrower) and the International Development Association (the Association). We also refer to your telex received November 15, 1995 regarding this Credit No 2498-GH, requesting an increase from 55 percent to 85 percent of the local expenditures to be financed from the proceeds of the Credit. Following an internal review, in order to stay within the 90 percent limit of total project costs to be met by the Association, the Association hereby agrees to amend the Agreement as follows: The table in Paragraph 1 of Schedule 1 of the Agreement is amended by increasing the percentage of local expenditures to be financed under Categories (1), (2), (5) and (6) from 55 percent to 75 percent. All other provisions of the Agreement, except as amended herein shall remain in full force and effect. The revised table in Paragraph 1 of Schedule 1 is attached to this letter. Kindly acknowledge receipt by countersigning and dating the enclosed copy and returning it to us. The amendment shall be effective as of the date of countersignature. Sincerely, Ian Porter Acting Director West Central Africa Department Attachment: Paragraph 1 of Schedule 1 CONFIRMED REPUBLIC OF GHANA By: /s/ Kwame Peprah Authorized Representative Date: November 28, 1995 cleared with and cc: Freese (LOAAF); Adu (LEGAF) cc: Messrs./Mmes. Lafourcade (o/r), Kaps (AF4DR); Najm (AF4CO); Wright, Coulthart, Burningham (AF4IN); Weindler (LOAAF); Al Habsy (LEGAF); Framji, Ewool (RMG); Div. Files; AISC Page 2