Nicaragua - Urban Reconstruction Project : Credit 0965 - Amending Agreement - 1 - Conformed

OFFICIAL CREDIT NUMBER 965 NI DOCUMENTS Amending Agreement (Urban Reconstruction Project) between REPUBLIC OF NICARAGUA and INTERNATIONAL DEVELOPMENT ASSOCIATION Dated , 1980 NICARAGUA - Credit Number 965-NI Amending Agreement Agreement, dated .4 , 1980, between Republic of Nicaragua (hereinafter called the Borrower) and International Development Association (hereinafter called the Association). WHEREAS by a Development Credit Agreement (hereinafter called the Credit Agreement) dated January 4, 1980, between the Borrower and the Association, the Association has made a credit to the Borrower in an amount in various currencies equivalent to twenty- two million United States dollars ($22,000,000), on the terms and conditions set forth in the Credit Agreement; WHEREAS the Borrower and the Association have agreed to certain changes in the Credit Agreement, and, for such purpose, have agreed to enter into this agreement (hereinafter called this Agreement), upon the terms and conditions hereinafter set forth; NOW THEREFORE, it is hereby agreed as follows: Section 1.01. The Credit Agreement is amended as follows: (a) Third Whereas clause. Delete in its entirety and substi- tute therefor the following: "WHEREAS, Corporacion Financiera de Nicaragua (herein- after called CORFIN) has been entrusted by the Borrower with the representation and management of Fondo and, as such, CORFIN conducts the activities and operations of Fondo on behalf of the Borrower;" (b) Section 1.02 (e). Delete in its entirety and substitute therefor the following: "(e) "MT" means Ministerio de Transporte and "MC" means Ministerio de la Construccion" (c) Section 1.02 (t). Insert in the definition of "Benefi- ciary", between the words "Association" and "to", the following: "or Transport Operators". (d) Section 1.02 (u). Delete in its entirety, renumbering the subsequent sub-paragraphs accordingly. -2- (e) Section 1.02 (v), former Section 1.02 (w). Delete in its entirety and substitute therefor the following: "(v) "Decree No. 463" means Decree No. 463 of the Borrower, dated July 2, 1980, under which the operation of Fondo has been entrusted to CORFIN, as such Decree may be amended from time to time;" (f) Section 1.02 (w), former Section 1.02 (x). Delete in its entirety and substitute therefor the following: "(w) Wherever reference in this Agreement is made to action by CORFIN or Fondo, it shall be deemed to mean action by CORFIN taken pursuant to authority of CORFIN vested in it by Decree No. 463". (g) The fifth Whereas clause, Sections 1.02 (a), 1.02 (p), and 1.02 (x), former Section 1.02 (y). Delete "BND" and substitute theref or "CORFIN". (h) Sections 2.09, 3.01 (b), 3.05, 3.07, 5.01 (a), 5.01 (b), 5.03 (d) and paragraph C.2 of Schedule 3. Delete "MTC" and "Min- isterio de Transporte" and substitute therefor "MT". (i) Add new Section 4.05, to read as follows: "Section 4.05. The Borrowr shall, acting by MT, provide Fondo with the necessary assistance to select the coopera- tives eligible for participation in funds from the Credit under Part B (4) of the Project". (j) Section 6.01 (e). Delete "Decree No. 43" and substitute therefor "Decree No. 463". Ck) Schedule 1. Paragraph 1. Delete the amount of Credit allocated for Categories (2) and (3) and substitute therefor "11,100,000" and 4,200,000", respectively. (1) Add new paragraph (4) for Part B of Schedule 2, to read as follows: "(4) Purchase and utilization of spare parts for buses and micro-buses". (m) Annex to Schedule 2. Delete in its entirety and substi- tute therefor the following: -3- "ANNEX TO SCHEDULE 2 Participating Entity Participation in the Project Ministerio de Vivienda y Part A (1) (a) and (c), (2) Asentamientos Humanos and (3) and overall coor- dination of the carrying out of Part A. Ministerio de Transporte Part C and assistance to Fondo in selecting the co- operatives eligible for the Credit under Part B (4). Ministerio de la Assistance to MIVAH for Construccion carrying out Part A (1) (a) and (c) and (2) (a) and (b) Corporacion Financiera de Part B Nicaragua, acting for Fondo Especial de Desarollo Instituto Nacional de Part A (1) (b) Energia Instituto Nicaraguense de Part A (1) (c), (4) and (5) Acueductos y Alcantarillados Municipal Reconstruction Assistance to MIVAH in carry- Boards ing out Part A (1), (2) and (3) Section 2.01. This Agreement shall become effective upon receipt by the Association of an opinion satisfactory to the Association from counsel acceptable to the Association showing that: (a) The person executing and delivering this Agreement is duly authorized to act on behalf of the Borrower for such purpose; (b) The persons executing and delivering the Amending Agreement for the Project Agreement are duly authorized to act on behalf of CORFIN and on behalf of BND, respectively, for such purpose; and (c) This Agreement and the Amending Agreement for the Project Agreement have been duly authorized or ratified by, and are legally binding upon, the Borrower, CORFIN and BND, in accord- ance with their terms. 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. REPUBLIC OF NICARAGUA By /i Q~LA~~c~~ hc,AA Authorized Representative INTERNATIONAL DEVELOPMENT ASSOCIATION ByAuthorized R Authorized Representative INTERNATIONAL DEVELOPMENT ASSOCIATION CERTIFICATE I hereby certify that the foregoing is a true copy of the original in the archives of the Interna- tional Development Association. In witness whereof I have signed this Certifi- cate and affixed the Seal of the Association thereunto the 9 -day of 198-L. FOR SECRETARY