Conformed Copy - C2405 - Privatization and Industrial Reform Adjustment Credit - Amendment

Page 1 February 3, 1993 Honorable Emmanuel G. Kasonde Minister of Finance Ministry of Finance P.O. Box 50062 Lusaka, Zambia Re: Credit No. 2405 ZA (Privatization and Industrial Reform Adjustment Credit) Amendment to Development Credit Agreement Dear Mr. Minister: We refer to the Development Credit Agreement dated July 13, 1992, between the Republic of Zambia (the Borrower) and the International Development Association (the Association) and to the letter dated January 19, 1993 from the Deputy Minister, Planning and Development Cooperation in the Office of the President requesting amendments to the Development Credit Agreement. We are pleased to inform you that the Association agrees to your request and, consequently, proposes to hereby amend Paragraph 8 of Schedule 4 to the Development Credit Agreement by the addition of the words "10% of the capital employed by, or 10% of the employees employed by, or 10% of the" after the words "to a level equivalent to about" appearing therein; and by the addition of the punctuation mark and word ", the" after the words "the turnover" of appearing therein. If you agree to this amendment, please sign and date one of the two duplicate originals of this letter at the form of countersignature below, and return it to us for our records. The amendment shall come into force on the date of countersignature by you. Very truly yours, Praful C. Patel Acting Director Southern Africa Department Africa Region CONFIRMED: REPUBLIC OF ZAMBIA By: Authorized Representative Date: 12-2-93