Conformed Copy - L3954 - Power Market Development Project - Amendment 1

Page 1 January 28, 1997 Mr. Jose Antonio Ocampo Minister of Finance and Public Credit Ministry of Finance and Public Credit Palacio de los Ministerios Santa Fe de Bogota Colombia Colombia: Loans 3952-CO and 3955-CO This is in connection with the Guarantee Agreements between the Republic of Colombia (the Guarantor) and International Bank for Reconstruction and Development (the Bank) dated December 20, 1995 (Santa Fe I Water Supply and Sewerage Rehabilitation Project - Loan 3952 CO) and March 26, 1996 (Power Market Development Project - Loan 3955 CO) hereinafter collectively referred to as the Guarantee Agreements. We have detected in both cases clerical mistakes in the text of Sections 1.01 of each of the Guarantee Agreements inasmuch as the standard references to the Applicable General Conditions used in such Sections mistakenly mention the "General Conditions Applicable to Single Currency Loan and Guarantee Agreements for Single Currency Loans dated January 1, 1985 with the modifications set forth in Section 1.01 of the Loan Agreement", rather than the "General Conditions Applicable to Single Currency Loan and Guarantee Agreements for Single Currency Loans dated May 30, 1995", as it is correctly mentioned in Section 1.01 of each respective Loan Agreement for said Projects and Loans, dated December 20, 1995 and March 26, 1996, respectively. Thus, we hereby propose to correct the respective texts of Sections 1.01 in each of the Guarantee Agreements to read as follows: "Section 1.01. The 'General Conditions Applicable to Single Currency Loan and Guarantee Agreements for Single Currency Loans' of the Bank dated May 30, 1995, (the General Conditions) constitute an integral part of this Agreement." Please accept our apologies for any inconvenience that we might have caused you and, if you are in agreement with the corrections, countersign and date the attached form as representative of the Guarantor pursuant to the respective Section 3.01 of each of the Guarantee Agreements. Sincerely, By /s/ Paul Isenman Director Country Department III Latin America and the Caribbean Region AGREED for the Guarantor By /s/ Jose Antonio Ocampo Minister of Finance and Public Credit Date: February 25, 1997 Page 2