Cameroon - Education Project : Credit 0161 - Credit Agreement - 2 - Conformed

CONFORMED COPY CREDIT NUMBER 161 CM (Amendment) Agreement Amending Development Credit Agreement (Education Project) BETWEEN UNITED REPUBLIC OF CAMEROON AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED JULY 30, 1975 CONFORMED COPY CREDIT NUMBER 161 CM (Amendment) Agreement Amending Development Credit Agreement (Education Project) BETWEEN UNITED REPUBLIC OF CAMEROON AND INTERNATIONAL DEVELOPMENT ASSOCIATION DATED JULY 30, 1975 AGREEMENT AMENDING DEVELOPMENT CREDIT AGREEMENT AGREEMENT, dated July 30, 1975 between UNITED REPUBLIC OF CAMEROON (hereinafter called the Borrower) and INTERNATIONAL DEVELOPMENT ASSOCIATION (hereinafter called the Association). WHEREAS (A) By a development credit agreement (Education Project) dated September 23, 1969 between the Borrower and the Association (hereinafter called the 1969 Agreement), the Association made a development credit to the Borrower in an amount in various currencies equivalent to ten million five hundred thousand dollars ($10,500,000) on the terms and conditions set forth in the 1969 Agreement; (B) Supplemental financing is now necessary to cover the estimated increases in the foreign currency cost of carrying out the Project described in Schedule 2 to the 1969 Agreement; and (C) The Association has agreed to amend the 1969 Agreement by adding the equivalent of one million two hundred thousand dollars ($1,200,000) to the amount of the said credit, upon the terms and conditions hereinafter set forth; NOW THEREFORE, it is hereby agreed as follows: ARTICLE I Section 1.01. Section 2.01 of the 1969 Agreement is hereby amended to read as follows: "The Association agrees to make available to the Borrower, on the terms and conditions in the Development Credit Agreement set forth or referred to, a development credit in an amount in various currencies equivalent to eleven million seven hundred thousand dollars ($1 1,700,000)." Section 1.02. The Allocation of the Proceeds of the Credit set forth in Schedule 1 to the 1969 Agreement is amended to read as follows: 4 Amounts Expressed in Category U.S. Dollar Equivalents (1) Furniture and Equipment for Part 1 of the Project 2,100,000 (2) Construction Works, Siteworks and Professional Services for Part I of the Project 8,100,000 (3) Technical Assistance and Project Unit 720,000 (4) Unallocated 780,000 TOTAL 11,700,000 Section 1.03. The 1969 Agreement is amended by substituting the words "United Republic of Cameroon" for the words "Federal Republic of Cameroon" wherever the latter appear in the 1969 Agreement. ARTICLE H Section 2.01. This Agreement shall come into force and effect on the date upon which the Association dispatches to the Borrower notice of its acceptance of: (a) evidence that the execution and delivery of this Agreement on behalf of the Borrower have been duly authorized or ratified by all necessary governmental action; and (b) an opinion or opinions satisfactory to the Association of counsel acceptable to the Association showing that this Agreement has been duly authorized or ratified by, and executed and delivered on behalf of, the Borrower and that the 1969 Agreement as amended by this Agreement constitutes a valid and binding obligation of the Borrower in accordance with its terms as so amended. Section 2.02. If this Agreement shall not have come into force and effect by October 30, 1975, this Agreement and all obligations of the parties hereunder I 5 shall terminate, unless the Association, after consideration of the reasons for the delay, establishes a later date for the purposes of this Section. The Association shall promptly notify the Borrower of such date. If this Agreement shall terminate under the provisions of this Section, the 1969 Agreement shall continue in full force and effect, as if this Agreement had not been executed. IN WITNESS WHEREOF, the parties hereto, acting through their representatives thereunto duly authorized, have caused this Agreement to be signed in their respective names and delivered in the District of Columbia, United States of America, as of the day and year first above written. UNITED REPUBLIC OF CAMEROON By /s / F. X. Tchoungui Authorized Representative INTERNATIONAL DEVELOPMENT ASSOCIATION By /s/ R. Chaufournier Regional Vice President Western Africa