The World Bank
The World BankINTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT69 Dr. Isert StreetTel:(233-21) 229681 220837INTERNATIONAL DEVELOPMENT ASSOCIATIONNorth Ridge, Accra, GhanaFax:(233-21) 227887 CONFORMED COPY March 22, 2011Dr Kwabena DuffuorHonourable Minister of FinanceMinistry of Finance and Economic Planning P.O. Box MB40Accra, GhanaHonorable Minister:GHANA: Education Sector ProjectSecond Amendment to the Development Credit Agreement (Credit No. 3865-GH)We refer to the Development Credit Agreement (the Agreement) for the above-mentioned Project, dated March 16, 2004, between the Republic of Ghana (the Borrower) and the International Development Association (the Association), as amended by a letter by the Association dated August 26, 2009 and counter signed by the Borrower on September 15, 2009 (the Amendment Letter). We also refer to your letters dated June 18, 2010, requesting for amendment to the Agreement, including, inter alia, amendment to reduce the total amount of the Credit. We are pleased to inform you that the Association accedes to your request and proposes to amend the Agreement as follows:1.Section 1.02 of Article I is amended to read as follows: By inserting new paragraphs (v) and (w) respectively, to read as follows: “(v)“Original Credit Amount” means an amount of SDR 52,700,000 referred to in Section 2.01 of this Agreement; and”“(w)“Reduced Credit Amount” means an amount of (SDR 4,450,400) referred to in Section 2.01 of this Agreement.”2.Section 2.01 is amended to read as follows: “The Association agrees to lend to the Borrower, on the terms and conditions set forth or referred to in this Agreement, an amount in various currencies equivalent to Forty eight million Two hundred forty nine thousand and six hundred Special Drawing Rights (SDR 48,249,600) (the “Credit”) which consists of an amount in various currencies equivalent to Fifty two million seven hundred thousand Special Drawing Rights (SDR 52,700,000) (“Original Credit Amount”), as reduced by an amount in various currencies equivalent to Four million Four hundred Fifty thousand and Four hundred Special Drawing Rights (SDR 4,450,400) (“Reduced Credit Amount”).” 3. The table set forth in the Annex to the Amendment Letter is deleted in its entiretyand replaced with the table set forth in Annex I to this letter.All other provisions of the Agreement, except as herein amended, shall remain in full force and effect.Please indicate agreement to the foregoing, on behalf of the Borrower, by countersigning and dating the form of confirmation on the two original copies of this letter provided and returning one original, as countersigned, to us. Upon receipt by the Association of the copy of this letter countersigned by the Borrower, this amendment shall become effective as of the date of its countersignature. Sincerely,INTERNATIONAL DEVELOPMENT ASSOCIATIONBy: /s/ Sergiy V. Kulykfor Ishac DiwanCountry Director for Ghana Africa RegionCONFIRMED:REPUBLIC OF GHANABy: Kwabena Duffuor Authorized RepresentativeDate: May 12, 2011Copy: Annex Withdrawal of the Proceeds of the CreditA.General1.The table below sets forth the Categories of items to be financed out of the proceeds of the Credit, the allocation of the amounts of the Credit to each Category and the percentage of expenditures for items so to be financed in each category: Amount of Financing Allocated (Expressed in SDR equivalent)CategoryAmount of theCredit Allocated(Expressed inSDR Equivalent% of Expenditure to be Financed 1Goods100% of foreign expenditures and 90% of local expenditureMOE5,791,000.00GES678,000.00NCTE274,000.002Consultancy Services/Training90%MOE1,550,000.00GES1,050,000.00NCTE380,000.003Annual Programs –Part B15,400,000.00100%4-ASDF Sub Project498,000.00100%4-BSub Projects – Part C21,000,000.00100%5-Operating Costs90%MOE348,767.00GES200,000.00NCTE845,000.006Refunding of PPF234,833.007Unallocated0.00Total48,249,600.00Category ................
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