Conformed Copy - C2776 - Highway Project - Agreement Amending Development Credit Agreement

Page 1 CONFORMED COPY CREDIT NUMBER 2776-1 AM (Amendment) Agreement Amending Development Credit Agreement (Highway Project) between REPUBLIC OF ARMENIA and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated July 17, 1997 CREDIT NUMBER 2776-1 AM (Amendment) AGREEMENT AMENDING DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated July 17, 1997, between the REPUBLIC OF ARMENIA (the Borrower) and the INTERNATIONAL DEVELOPMENT ASSOCIATION (the Association). WHEREAS (A) the Borrower and the Association have entered into a Development Credit Agreement (Highway Project) dated October 2, 1995 (the Development Credit Agreement) for the purpose of assisting in 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 eleven million Special Drawing Rights (SDR 11,000,000); and 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 of the Development Credit Agreement Page 2 Section 1.01. Section 1.02 of the Development Credit Agreement is amended by adding a new Subsection (e) as follows: "(e)