Conformed Copy - L2998 - Electric Power Sector Project - Amendment

Page 1 March 23, 1990 Mr. Erman Gonzalez Ministro de Economia Ministerio de Economia Hipolito Yrigoyen, 250 Buenos Aires, Argentina Re: Loan No. 2998-AR (Electric Power Sector Project) Amendment to the Loan Agreement Dear Sir: Please refer to the Loan Agreement between International Bank for Reconstruction and Development (the Bank) and the Argentine Republic (the Borrower) dated November 18, 1988. We are pleased to inform you that, in light of the full disbursement of a parallel Inter-American Development Bank (IDB) loan referred to in Loan Agreement Section 1.02 (t), the Bank agrees to increase to 100% the percentage of expenditures financed by the Bank for works and services included under the Yacyreta Project for the remainder of the Loan. The Bank, therefore, proposes to amend the Loan Agreement to reflect this increase, and also takes the opportunity to at the same time extend the Closing Date and other pertinent dates cited in the Loan Agreement. These amendments to the Loan Agreement are as follows: 1. Section 2.03 This Section is hereby amended by substituting "1991" for "1990". 2. Schedule 1 The table in paragraph 1 of this Schedule is hereby amended to read as follows in its entirety: Amount of the Loan Allocated % of (Expressed in Expenditures "Category Dollar Equivalent) to be Financed (1) Civil works 182,400,000 up to 100%, under Part A-1 excluding any of the Project expenditures financed under the IDB Loan Agreement (2) Consultants' 27,000,000 up to 100%, services under excluding any Part A.1 of expenditures the Project financed under the IDB Loan Agreement (3) Goods and services 2,000,000 100% under Part B of the Project (4) Interest and other 18,200,000 Amounts due charges on the Loan pursuant to accrued on or before Section 2.02 (c) November 14, 1990 of this Agreement (5) Interest and other 22,400,000 Amounts due charges on Loan pursuant to 1761 AR accrued Section 2.02 (c) Page 2 after the date of of this this Loan Agreement Agreement and on or before May 31, 1990 TOTAL 252,000,000" Please confirm your agreement to the foregoing amendments by signing and dating the attached confirmation copy of this letter and returning the same to the undersigned. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT /s/ Suman Bery Acting Director Country Department IV Latin America and the Caribbean Region THE ARGENTINE REPUBLIC /s/ Authorized Representative Date: April 6, 1990