Conformed Copy - L2815 - Trade Policy and Export Diversification Loan - Amendment

Page 1 September 16, 1987 Mr. Juan Vital Sourrouille Ministro de Economia Ministerio de Economia Buenos Aires Argentina Re: Loan No. 2815-AR (Trade Policy and Export Diversification Loan) Amendment to the Loan Agreement Dear Mr. Minister: I refer to the Tloan Agreement dated July 29, 1987 between the International Bank for Recorstruction and Development (the Bank) and the Argentine Republic (the Borrower) for the above-mentioned Loan. I am pleased to inform you that the Bank agrees to your request to amend the Loan Agreement in order to include provisions related to the parallel cofinancing loan by private commercial banks in support of the trade policy and export diversification reforms supported by the Loan, as follows: 1. The following new paragraph "(j)" is added to Section 1.02: "(j) "Parallel Cofinancing Loan" means the loan made by the commercial banks listed on the signature pages of the Parallel Cofinancing Loan Agreement (hereinafter defined), and Citibank, N.A., as Agent (the Lenders) to the Borrower in order to assist the Borrower in carrying out the Program, and the term "Parallel Cofinancing Loan Agreement" means the agreement between the Lenders, Banco Central de la Reptiblica Argentina, and the Borrower providing for the Parallel Cofinancing Loan, dated August 1, 1987." 2. Section 4.01 is amended to read as follows: "Section 4.01. Pursuant to Section 6.02 (k) of the General Conditions, the following additional events are specified: (a) an event has occurred which shall make it improbable that the Program, or a significant part thereof, will be carried out; and (b) (i) subject to subparagraph (ii) of this paragraph: (A) the right of the Borrower to withdraw the proceeds of the Parallel Cofinancing Loan shall have been suspended, cancelled or terminated in whole or in part, pursuant to and in accordance with the terms of the Parallel Cofinancing Loan Agreement; or (B) the Parallel Cofinancing Loan shall have become due and payable prior to the agreed maturity thereof; (ii) Sub-paragraph (i) of this Section shall not apply if the Borrower establishes to the satisfaction of the Bank that: (A) such suspension, cancellation, termination or prematur-ing is not caused by the Borrower's failure to perform any of its obligations under the Parallel Cofinancing Loan Agreement; and (B) adequate funds to support the Program are available to the Borrower from other sources on terms and conditions consistent with the obligations of the Borrower under this Agreement." Page 2 Please confirm your agreement to the foregoing by signing and dating the form of confirmation on the attached copy of this letter and returning it to us. Sincerely yours, By Pieter Bottelier Director Country Department IV Latin America and the Caribbean CONFIRMED: THE ARGENTINE REPUBLIC By Authorized Representative