Conformed Copy - L4019 - Manila Second Sewerage Project - Agreement Amending Loan Agreement

Page 1 CONFORMED COPY LOAN NUMBER 4019 PH Agreement Amending Loan Agreement (Manila Second Sewerage Project) between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT and METROPOLITAN WATERWORKS AND SEWERAGE SYSTEM Dated March 17, 1998 Page 2 LOAN NUMBER 4019 PH AGREEMENT AMENDING LOAN AGREEMENT AGREEMENT, dated March 17, 1998, between INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank) and METROPOLITAN WATERWORKS AND SEWERAGE SYSTEM (the Borrower). WHEREAS (A) By the Loan Agreement dated June 19, 1996 between the Bank and the Borrower for a Manila Second Sewerage Project (the Loan Agreement), the Bank agreed to extend Loan No. 4019 PH to the Borrower to assist in financing the project described in Schedule 2 to the Loan Agreement (the Project) on the terms and conditions set forth in the Loan Agreement; (B) by an agreement of even date with the Loan Agreement (the Guarantee Agreement), the REPUBLIC OF THE PHILIPPINES (the Guarantor) agreed to guarantee the obligations of the Borrower under the Loan Agreement and to undertake such obligations as set forth in the Guarantee Agreement; (C) the Borrower has entered into concession arrangements with Manila Water Company, Inc. (MWCI) and Maynilad Water Services, Inc. (MWSI) whereby MWCI and MWSI will operate the Borrower