Conformed Copy - L7193 - Programmatic Labor Reform and Social Structural Adjustment Loan - Loan Agreement

Page 1 CONFORMED COPY LOAN NUMBER 7193-CO Loan Agreement (Programmatic Labor Reform and Social Structural Adjustment Loan) between REPUBLIC OF COLOMBIA and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated September 11, 2003 Page 2 LOAN NUMBER 7193-CO LOAN AGREEMENT AGREEMENT, dated September 11, 2003, between the REPUBLIC OF COLOMBIA (the Borrower) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank). WHEREAS (A) the Bank has received a letter, dated August 6, 2003 (the Development Policy Letter), from the Borrower: (i) describing its macroeconomic framework and a program of actions, objectives and policies for labor and social reform, covering social protection, labor law, public health and education (the Program), which Program consists of actions that have already been taken as described in Schedule 3 to this Agreement (the First Phase of the Program), and actions and policies that the Borrower intends to take and adopt in the near future; (ii) declaring th e Borrower