Conformed Copy - L3088 - National Agricultural Credit Project - Amendment

Page 1 Dr. Rachid Haddaoui June 15, 1992 DIrecteur General Caine Nationale de Credit Agricole 24 rue d'Alger Rabat Kingdom of Morocco Re: Loan No. 3088 MOR (National Agricultural Credit Project) Amendment to Schedule l of the Loan Agreement Dear Sir: We refer to the Loan Agreement dated July 21, 1989 between the International Bank for Reconstruction and Development (the Bank) and the National Bank for Agricultural Credit (the Borrower) for the above-captioned Project and to your letter dated June 20, 1991 requesting the Bank~s agreement to an increase in certain disbursement percentages set forth in the table in paragraph 1 of Schedule 1 to the Loan Agreement. We wish to inform you that the Bank agrees to the following amendments to the Loan Agreement. The percentages of expenditure for the following Categories of items to be financed out of the proceeds of the Loan, as set forth in the table in paragraph l of Schedule l to the Loan Agreement, are amended to read as follows: Amount of the Loan Allocated % of (Expressed in Expenditures Category Dollar Equivalent) to be Financed (1) Sub-loans under Part A (1) of the Project to farmers and enterprises: (b) for other 100,000,000 40% of amounts investments paid by the Borrower (2) Sub-loans under 22,000,000 60% of amounts Part A (2) of paid by the Borrower the Project to agro-processing and wood-processing (5) Sub-loans under 11,000,000 40% of amounts Part A (5) of the project to fishermen (6) Sub-loans under 5,000,000 50% of amounts Part A (6) of paid by borrower the Project to artisans and rural enterprises In all other respects, the table in paragraph 1 Of Schedule 1 to the Loan Agreement remains unchanged. The new disbursement percentages set forth in this letter shall apply to all amounts paid by the Borrower in respect of eligible expenditures on or after the date of this letter. Page 2 Please confirm your agreement to the foregoing by signing on the space provided below. In view of their interest in the foregoing, we are sending a copy of this letter to H.E. Mohamed Berrada, Minister of Finance, and to H.E. Moulay Zine Zahidi, Delegated Minister. Very truly yours, Pieter P. Bottelier Director Country Department I Middle East & North Africa Region AGREED: NATIONAL BANK FOR AGRICULTURAL CREDIT By ___________________________________ Authorized Representative