IUM~CIAL
DOCUMENTS
LOAN NUMBER 8135-BR
Guarantee Agreement
(Pernambuco Rural Economic Inclusion Project -
Pernambuco Rural Sustentdvel)
between
FEDERATIVE REPUBLIC OF BRAZIL
and
INTERNATIONAL BANK FOR RECONSTRUCTION
AND DEVELOPMENT


LOAN NUMBER 8135-BR
GUARANTEE AGREEMENT
AGREEMENT, dated as of the Signature Date (as defined in the Appendix to the
Loan Agreement), entered into between the FEDERATIVE REPUBLIC OF BRAZIL
("Guarantor") and INTERNATIONAL BANK FOR RECONSTRUCTION AND
DEVELOPMENT ("Bank") ("Guarantee Agreement") in connection with the Loan
Agreement of same date between the Bank and the STATE OF PERNAMBUCO
("Borrower") ("Loan Agreement"). The Guarantor and the Bank hereby agree as
follows:
ARTICLE I - GENERAL CONDITIONS; DEFINITIONS
Section 1.01. The General Conditions (as defined in the Appendix to the Loan
Agreement) constitute an integral part of this Agreement.
Section 1.02. Unless the context requires otherwise, the capitalized terms used in
this Agreement have the meanings ascribed to them in the General Conditions or in the
Loan Agreement.
ARTICLE II - GUARANTEE; PROVISION OF FUNDS
Section 2.01. The Guarantor hereby unconditionally guarantees, as primary
obligor and not as surety merely, the due and punctual payment of all Loan Payments
payable by the Borrower pursuant to the Loan Agreement.
ARTICLE III -REPRESENTATIVE; ADDRESSES
Section 3.01. The Guarantor's Representative is its Ministry of Finance.
Section 3.02. The Guarantor's Address is:
Ministerio da Fazenda
Procuradoria Geral da Fazenda Nacional
Esplanada dos Minist6rios, Bloco "P" - 8' andar
70048-900 Brasilia, DF
Brazil
Facsimile: 55-61-3412-1740


Section 3.03. The Bank's Address is:
International Bank for
Reconstruction and Development
1818 H Street, N.W.
Washington, D.C. 20433
United States of America
Cable:               Telex:              Facsimile:
INTBAFRAD            248423 (MCI) or            (202) 477-6391
Washington, D.C.      64145 (MCI)
AGREED at       C*      ,                 on behalf of the Guarantor on
 /6,             ,and at    ctf-                 on behalf of the Bank
on    ?Tywg  {Y2012           .
FEDERATIVE REPUBLIC OF BRAZIL
By                         j e
Authorized Representative
INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPMENT
By
Authorized Representadve
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