Conformed Copy - L3078 - Second Agricultural Sector Adjustment Loan - Amendment

Page 1 His Excellency H.E. Mustapha K. Nabli April 24, 1991 Minister of Planning and Regional Development Ministry of Planning and Regional Development Place Ali Zouaoui Tunis Republic of Tunisia Re: Loan No. 3078 TUN (Second Agricultural Sector Adjustment Loan) Amendment to the Loan Agreement Excellency: We refer to the Loan Agreement (Second Agricultural Sector Adjustment Loan) between the Republic of Tunisia (the Borrower) and the International Bank for Reconstruction and Development (the Bank) dated June 30, 1989. We also refer to the Borrower's request contained in your telex to the Bank dated March 31, 1992, for amendment of the Loan Agreement to delink the investment component from the adjustment component to permit disbursements for investment expenditures before all the conditions of second tranche release as provided in the Loan Agreement have been fulfilled. We are pleased to inform you that the Bank, after due consideration, has acceded to the above request. Accordingly, the Loan Agreement is hereby amended as follows: In Schedule l, paragraph 5 is amended to read as follows: "No withdrawal shall be made and no commitment shall be entered into to pay amounts to or on the order of the Borrower in respect of expenditures to be financed out of the proceeds of the Loan allocated to Category (l) after the aggregate of the proceeds of the Loan withdrawn from the Loan Account under Category (l) and the total amount of commitments entered into with respect of such Category shall have reached the equivalent of $37,500,000, unless the Bank shall be satisfied, after an exchange of views as described in Section 3.01 of this Agreement based on evidence satisfactory to the Bank: (a) with the progress achieved by the Borrower in the carrying out of the Program; and (b) that the actions described in Schedule 4 to this Agreement have been taken." All the terms and conditions of the Loan Agreement, as amended hereby, shall remain in full force and effect. Please confirm your agreement with the foregoing amendment by signing and dating the confirmation on the enclosed copy of this letter and returning it to us. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Rene L. Costa Acting Director Maghreb Department Middle East and North Africa Region CONFIRMED: Page 2 REPUBLIC OF TUNISIA By /s/ Mustapha Kamel Nabli Date: 15 May 1992