O
                                            LOAN NUMBER 9142-C




         Loan Agreement
                                   ment Policy Loan)
 (COVID-19 Crisis Response Develop


                      between


           REPUBLIC OF COLOMBIA



                       and


INTERNATIONAL BANK FOR RECONSTRUCTION
          AND DEVELOPMENT




                                                                   {
        (b) the Bank's Electronic Address is:

        Telex:                   Facsimile              E-mail

        248423(MCI) or           1-202-477-639 I        uzachau@worldbank.org
         64145(MCI)


AGREED as of the Signature Date.

                                        REPUBLIC OF COLOMBIA




                                                      Name:     ~\,e(-\u Co r<o.~ \ \\ ~
                                                       Title:   Mn1~\e{ Of fw'\ttnce ~vd ?vbl,c.   ~d,t
                                                      Date: JV\~ 2.~cr '1ol.O

By _ __.:::.__ __ _ _--,\,'--
Authori zed Representative and
Technical Coordin ator of the Program

Name:   Wl~-A-\ ~trn R.odf1jV€t ~
Title: ~~j ~{.e(\;) ( ~~~I fl~r,1, ~ftimeot

Date:   .Tu\'f 2.1 ~t 2..oCZ.o
                                        INTERNATIONAL BANK FOR
                                        RECONSTRUCTION AND DEVELOPMENT

                                         By

                                                   /U                  Authorized Representative

                                                      Name:       If{ le I Ct!     t1t l   JIA v(
                                                       Title:      Cctt11 /y ~             ~c f;;r-
                                                       Dale:    JoIi 2.'~
                                                -3-
               7.       To support access to finance and operational continuity for MSMEs in the face ofCOVID-
                        19, the Republic of Colombia and Bancoldex have launched emergency credit lines via
                        Bancoldex aimed at maintaining working capital and employment in critical sectors, as
                        evidenced by Article 2 of Decree No. 468, published in the Official Gazette on March 23,
                        2020, and the Bancoldex Circulars

           8.           The Republic of Colombia has: (i) temporarily postponed the deadline for tax payments as
                       evidenced by Decree 401 published in the Official Gazette on March 13, 2020, Decree 435
                       published in the Official Gazette on March 19, 2020, and Decree 520 published in the
                       Official Gazette on April 6, 2020; and (ii) accelerated VAT and income tax refunds during
                       the whole period of the health emergency, as evidenced by Decree 535 published in the
                       Official Gazette on April 12, 2020.

          Section II.          Availability of Loan Proceeds

          A.           General. The Borrower may withdraw the proceeds of the Loan in accordance with the
                       provisions of this Section and such additional instructions as the Bank may specify by
                       notice to the Borrower.

          B.          Allocation of Loan Amounts. The Loan is allocated in a single withdrawal tranche, from
                      which the Borrower may make withdrawals of the Loan proceeds. The allocation of the
                      amounts of the Loan to this end is set out in the table below:

                             Allocations            Amount of the Loan
                                                         Allocated
                                                   (expressed in Dollars)
                       (!)Single                        700,000,000
                       Withdrawal Tranche
                       TOTAL AMOUNT                     700,000,000


     C.              Withdrawal Tranche Release Conditions.

     I.             No withdrawal shall be made of the Single Withdrawal Tranche unless the Bank is
                    satisfied: (a) with the Program being carried out by the Borrower; and (b) with the adequacy
                    of the Borrower's macroeconomic policy framework.




D.                  Deposit of Loan Amounts.

I.              The Borrower, within thirty (30) days after the withdrawal of the Loan from the Loan
                Account, shall report to the Bank: (a) the exact sum received into the account referred to
               in Section 2.03 (a) of the General Conditions; (b) the details of the account to which the
               Colombian Peso equivalent of the Loan proceeds were credited; and (c) the record that an
               equivalent amount has been accounted for in the Borrower's budget management systems.
                                                          -5-