The World lBank (202) 473-1000 INTERNATIONAL 3 ANK FOR RECONSTRUCTION AND DEVELOPMENT 0f3 3 Cable Address: INTBAFRAD INTERNATIONAL ) VELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVAS A(, 2012 IMdr. Javier Guzmdn Calafell 1Director General Centre for Latin American Monetary Studies Durango 54, Col. Roma, M6xico, D.F. 16xico Amendment to the Grant Agreemeut to the Centre for Latin American Monetary Studies - CEMLA, under the Debt Mangement Facility for Low Income Countries (DMF) D MF Grant No. 094659 De,ar Mr. Calafell: . We refer to the Grant Agreement between the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), :1 )llectively the "World Bank"), acting as administrator of grant funds provided by the 1lulti-Donor Trust Fund (TF No.0'71202) ("MDTF") under the Debt Management Facility ')MF") for Low-Income Countries ("LICs") and the Centre for Latin American Monetary Atidies (CEMLA) (the "Recipient"', effective July 10, 2009, as amended (the "Agreement") b5 which the World Bank made a grant in a cumulative amount of three hundred sixty-one thousand five hundred and twenty-two United States dollars (US$ 361,522) (the "Grant") to the Recipient. 2. We also refer to the letter dated June 27, 2012 requesting the World Bank to: (i) in,crease the Grant amount by one hundred one thousand six hundred and seventy-seven L-nited States Dollars (US$101,677); (ii) revise the table relating to the Eligible Expenditures under Section 3.01 of the Annex to the Agreement to reflect the revised am-ount of the Grant; and (iii) extend the Closing Date of the Grant from July 30, 2012 to !,cember 31, 2012. We are happy to inform ycu that the World Bank has considered the Recipient's iequest and it has agreed to amend the Agreement as follows: A) The first paragraph of the Agreement shall be deleted in its entirety and replaced with the following: -2- "I am pleased to inform you that the International Bank for Reconstruction and Development (IBRD) anc the International Development Association (IDA), (collectively the "World Bank"), acting as administrator of grant funds provided by the Multi-Donor Trust Fund (TF No. 071202) ("MDTF") under the Debt Management Facility ("DMF") for Low-Income Countries ("LICs"), proposes to extend to the Centre for Latin American Monetary Studies (CEMLA), a provider of technical assistance and policy advice on debt management related issues (the "Recipient") a grant in an amount not to exceed four hundred sixty-three thousand one hundred ninety-nine United States Dollars (US$ 463,199) (the "Grant") on terms and conditions set forth or referred to in this letter agreement (the "Agreement") to assist in the financing of the activities described in Section 2.01 of the Annex to this Agreement (the "Project"). This Grant is funded out of the above mentioned Trust Fund for which the World Bank receives periodic contributions. In accordance with Section 3.02 of the Standard Conditions (as defined in the Annex to this Letter Agreement), the Recipient may withdraw the Grant proceeds subject to the availability of such funds". The table in Section 3.01 of the Annex to the Agreement shall be deleted in its Cqtirety and replaced with the following: Category Amount of the Grant Percentage of Expenditures Allocated to be Financed (expressed in USD) (inclusive of Taxes) iavel, Services, Training 411,741 100% )erating Costs 51,458 100% Total 463,199 C) Paragraph 3.03 of the Annex to the Agreement is deleted in its entirety and replaced by the following: "The Closing Date referred to in Section 3.06 (c) of the Standard Conditions is December 31, 2012." 41 All other terms of the Agreement shall remain the same. 5 The World Bank will disc .ose this Amendment and related information on this Trust Fund in accordance with the World Bank Policy on Access to Information. By entering into this Agreement, the Recipient consents to disclosure of this Amendment and rtlated information on this Trust Fund. -3- Please confirm your agreenent to the foregoing, on behalf of the Recipient, by ;i,,ning, dating and returning to us the enclosed copy of this Amendment. Upon receipt 1) the Bank of the copy of this Amendment countersigned by you, this Amendment will become effective as of the date of 1he countersignature. Sincerely, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION rey D. Lewis Director Economic Policy and Debt Department CONFIRMED AND AGREED: THE CENTRE FOR LATIN AMERICAN MONETARY STUDIES - CEMLA 'tim .MrGuzmin Calafell I i le: Director General D)ate: __Y,Lj 3 1 / 7