Conformed Copy - C2320 - Economic Rehabilitation Project - Amendment 1

Page 1 May 21, 1992 His Excellency Lusandorjiin Dawagiv, Ambassador Embassy of Mongolia 10201 Iron Gate Road Potomac, Md 20854 Re: Credit No.2320-MOG (Economic Rehabilitation Project) Amendment of the Development Credit Agreement Dear Mr. Ambassador: We refer to the Development Credit Agreement (Economic Rehabilitation Project) between Mongolia (the Borrower) and the International Development Association (the Association) dated December 27, 1991. We refer also to the, telex dated May 14, 1992, from the Minister of Finance of the Borrower requesting the Association to increase the amount of Authorized Allocation of the Special Account from $3.0 million to $6.0 million and authorizing you to countersign an amendment letter in this regard. The Association is pleased to inform you that, after due consideration, it agrees to the above request. Therefore the amount of $3,000,000" indicated in paragraph 1 (c) of Schedule 4 to the Development Credit Agreement is substituted by $6,000,000". Please confirm your agreement with the foregoing amendment by signing and dating the enclosed form of confirmation on behalf of the Borrower and by returning it to us for our record. This amendment will become effective as of the date hereof upon receipt of your confirmation in this regard. A copy of this letter is being sent to Mr. Bazzarkhuu, Minister of Finance, for his information. Sincerely, David Pearce Acting Director China and Mongolia Department East Asia and Pacific Region CONFIRMED: MONGOLIA: By Authorized Representative Date: 5/25/92