Conformed Copy - L4109 - Agrarian Reform Communities Development Project - Amendment

Page 1 October 31, 2000 Hon. Jose T. Pardo Secretary Department of Finance DoF Building, Roxas Blvd. Manila, Philippines Re: Agrarian Reform Communities Development Project (LN 4109-PH) Amendment to Loan Agreement: Increase in Special Account Authorized Allocation Dear Secretary Pardo: I refer to the Loan Agreement dated December 20, 1996, between the Republic of the Philippines (the Borrower) and International Bank for Reconstruction and Development (the Bank) for the above-referenced Project, as amended (the Loan Agreement), and to the letter dated July 17, 2000 from Undersecretary J. A. Banares, Department of Finance, on behalf of the Borrower, requesting an amendment to the Loan Agreement to increase the Special Account Authorized Allocation. I am pleased to inform you that the Bank, after receiving the revised disbursement projections for the Project, and evaluating the same, agrees to amend the Loan Agreement as follows: Paragraph 1(c) of Schedule 7 to the Loan Agreement is amended to read: