Conformed Copy - L4057 - Enterprise Development Adjustment Loan - Amendment

Page 1 June 12, 1998 Mr. Igor Mitiukov Minister of Finance Ministry of Finance 12/2 Hrushevaky St. Kyiv, Ukraine 252008 Ukraine Re: Loan 4057 UA (Enterprise Development Adjustment Loan) -- Amendments to the Loan Agreement -- Project Implementation Unit Dear Minister: We refer to the Loan Agreement dated June 27, 1996, for the above-referenced Loan and to the letter, dated May 5, 1998, from Olexander M. Bondar, Head of the State Property Fund, to Paul Siegelbaum, requesting amendment of the Loan Agreement to allow for the financing of the operating costs of the Project Implementation Unit. We are pleased to inform you that the Bank accedes to your request and proposes to introduce the following amendments in the Loan Agreement: 1. In the Table set forth in paragraph 1 of Schedule 1 to the Loan Agreement (Withdrawal of the Proceeds of the Loan) the following new Category is hereby introduced, and the percentage of expenditures thereunder to be financed by the Loan is 100%: (1)(c) Operating Costs under Part A of the Project 2. In paragraph 2 of Schedule 1 to the Loan Agreement, a new sub-paragraph (c) is introduced as follows: