OFFICIAL              pri z   CU
DOCUMENTS
The World Bank                                       1818 H Street N.W.       (202) 473-1000
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT  Washington, D.C. 20433  Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION                U.S.A.                   Cable Address: INDEVAS
Honorable Seth Tekper
Minister for Finance
Ministry of Finance
PO Box MB40
Accra,
Republic of Ghana
Re: Ghana: Public Private Partnership Program Project (Credit Number 5097-GH) -
Amendment to the Financing Agreement
Honorable Minister:
We refer to the Financing Agreement between Republic of Ghana (the Recipient) and the
International Development Association (the Association) dated November 22, 2012, (the
Agreement). We also refer to your letter dated November 4, 2014, requesting the Association for
certain amendments to the Agreement.
The Association hereby accedes to your request and proposes to amend the Agreement
as follows:
1.     Schedule 2 to the Agreement is amended by deleting Part A.5 and inserting the
following:
"5."   "(a)   Facilitating the development of long term financing capacities
and instruments for infrastructure and services, including bond and
equity markets development."
"(b) Carrying out an analysis to determine the appropriateness and
modalities for a potential infrastructure financing facility, including
establishment and operationalization of the initial activities of the Ghana
Infrastructure and Investment Fund (GIIF)."
2.     Schedule 2 to the Agreement is amended by inserting Section I.A.5 as follows:
"5."   Establishment and Operationalization of the GIIF
"(a)"  "Without limitation to the provisions of Section I.A.2 of this Schedule,
the Project Implementation Unit will be responsible for the coordination,
monitoring, evaluation, reporting and communication of the activities
relating to the establishment and operationalization of the GIIF."
"(b)"  "The Recipient shall not later than August 31, 2016, recruit to the GIIF, a
chief executive officer, a chief investment officer, and a chief resources


officer, all with qualification, experience and terms of reference
acceptable to the Association."
3.     The table set forth amended as set forth in the Annex to this letter.
4.     The Closing Date set forth in Schedule IV.B.2 of Schedule 2 to the Agreement shall be
the date established as the date February 28, 2018.
5.     The Appendix to the Agreement is amended by renumbering paragraph 9 as paragraph
10. Accordingly, the subsequent paragraphs are renumbered as paragraphs 11 through 24.
A new paragraph 9 is inserted as follows:
"9."   ""Ghana Infrastructure Investment Fund" or "GIIF" means the Recipient's fund
established and operating pursuant to the Ghana Infrastructure Investment Fund
Act 2014 (Act 877) of the laws of the Recipient, and any successor thereto."
All other provisions of the Agreement, except as amended herein, shall remain in full
force and effect.
Please indicate your agreement with the foregoing amendment to the Agreement on
behalf of the Recipient by countersigning and dating the two original copies of this letter and
returning one countersigned original to us. The amendments to the Financing Agreement set forth
in this letter (the Amendment) shall become effective as of that date.
Sincerely,
Henry G. R. Kerali
Country Director for Ghana
Africa Region
CONFIRMED:
REPUBLIC OF GHANA
Authorized e presentative
Name: CASSIEL ATO FORSON MP
DEPUTY MINISTER (F)
Title:                        CE
Date: I 1q'A4     Q     A


ANNEX
Withdrawal of the Proceeds of the Financing
The following table specifies the categories of Eligible Expenditures that may be financed out of
the proceeds of the Financing ("Category"), the allocations of the amounts of the Credit to each
Category, and the percentage of expenditures to be financed for Eligible Expenditures in each
Category:
Amount of the     Percentage of Expenditures
Category            Credit Allocated         to be Financed
(expressed in SDR)      (inclusive of Taxes)
(1) Goods, works, non-        18,926,435                 100%
consulting services,
consultants' services,
Training and Operating
Costs for the Project
(except Part A.5(b) of
the Project)
(2) Refund of Preparation        473,565      Amount payable pursuant to
Advance                                    Section 2.07 of the General
Conditions
TOTAL AMOUNT                  19,400,000