Conformed Copy - C1911 - Financial Sector Adjustment Credit - Amendment 3

Page 1 March 13, 1990 His Excellency Dr. Kwesi Botchwey The Provisional Rational Defense Council Secretary for Finance and Economic Planning Ministry of Finance and Economic Planning P.O. Box M-40 Accra Republic of Ghana Re: GHANA - Credit No. 1911 GH (Financial Sector Adjustment Credit) Amendments to the Development Credit Agreement Dear Dr. Botchwey: We refer to the Development Credit Agreement (Financial Sector Adjustment Credit), dated June 14, 1988, between the Republic of Ghana and the International Development Association (the Association), as amended. Pursuant to your request of March 1, 1990, we propose to amend the Development Credit Agreement as follows: 1. Section 3.03 (a) of the Development Credit Agreement shall be amended by adding: "(vii) provide technical assistance for bank restructuring and to the Non-Performing Asset Recovery Trust." 2. In the table set forth in paragraph (1) of Schedule 1 to the Development Credit Agreement the amount allocated to Category (1) shall be reduced from SDR 73,580,000 to SDR 71,660,000, the amount allocated to Category (2) shall be increased from SDR 370,000 to SDR 760,000 and the amount allocated to Category (4) shall be increased from SDR 1,980,000 to SDR 3,510,000. Please confirm your agreement with the foregoing by signing the form of confirmation below on the enclosed copy and returning it to us. This amendment shall become effective upon receipt of the signed copy by the Association. Sincerely yours, Caio K. Koch-Weser Director Western Africa Department CONFIRMED REPUBLIC OF GHANA By______________________________ Authorized Representative Date: March 14, 1990