Conformed Copy - L2909 - Caja Agraria Institutional Development Project - Amendment 1

Page 1 October 7, 1988 Dr. Carlos Villamil Chaux General Manager Caja de Credito Agrario, Industrial y Minero Carrera Octava No. 15-43 Bogota, Colombia Re: Loan No. 2909-CO Caja Agraria Institutional Development Project Procurement Procedures Dear Sirs: I refer to the Loan Agreement dated May 13, 1988, for the above-referenced Loan between the International Bank for Reconstruction and Development (the Bank) and the Caja de Credito Agrario Industrial y Minero (the Borrower). We are pleased to inform you that the Bank agrees to amend said agreement to ease the procurement process of small acquisitions, as requested in your letter of September 5, 1988. Accordingly, Schedule 4, Part B, to the Loan Agreement is hereby amended as follows: 1. The current paragraph under Part B is designated as paragraph 1. 2. The following paragraph, number 2, is added, also under Part B: "Contracts for goods estimated to cost the equivalent of $50,000 or less, up to an aggregate amount not to exceed the equivalent of $500,000, may be awarded following evaluation and comparison of quotations furnished by at least three suppliers. Contracts shall be awarded to the lowest evaluated quotation." The foregoing amendment, upon confirmation by the Borrower, will be effective as of September 14, 1988, date on which the Loan Agreement was declared effective. Please confirm your agreement to the above by signing and dating the form of confirmation below and returning it to us. Because of his interest on this matter, we are sending copy of this letter to the Representative of the Guarantor Dr. Luis Fernando Alarcon Mantilla, Minister of Finance and Public Credit. Sincerely yours, International Bank for Reconstruction and Development By /s/ Ping-Cheung Loh Country Director Latin America and the Caribbean Region CONFIRMED: Caja de Credito Agrario Industrial Page 2 By /s/ Carlos Villamil Chaux Authorized Representative Date cc: Dr. Luis Fernando Alarcon Mantilla Minister of Finance and Public Credit