Conformed Copy - TF027553 - Institutional Development of West African Enterprise Network to Support Capital Market Development - IDF Grant

Page 1 November 7, 1997 The Honourable Richard Kwame Peprah Minister of Finance Ministry of Finance P.O. Box M.40 Accra, Ghana Re: Grant for Institutional Development of West African Enterprise Network to Support Capital Market Development IDF Grant No. 27553 Dear Sir: I am writing on behalf of the International Bank for Reconstruction and Development (the Bank) to indicate the Bank's agreement to make to the Republic of Ghana (the Recipient) a grant in an amount not exceeding US$185,000 (the Grant). The Grant is made in response to the Recipient's request for financial assistance and for the purposes and on the terms and conditions set forth in the Annex to this Letter-Agreement. The Recipient represents, by confirming its agreement below, that it is authorized to contract and withdraw the Grant for the said purposes and on the said terms and conditions. Please confirm your agreement with the foregoing, on behalf of the Recipient, by signing, dating, and returning to us the enclosed copy of this Letter-Agreement. Upon receipt by the Bank of the copy of this Letter-Agreement countersigned by you, this Letter-Agreement will become effective as of the date of countersignature. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By J