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February 7, 1992
His Excellency Marcilio Marques Moraira
Ministro da Economia, Faznda e Planejamento
Ministerio da Economia, Fazenda e Planejamento
Esplanada dos Ministerios, Bloco P, 5o Andar
Brasilia, D.F. 70048
Brazil
His Excellency Luiz Antonio Fleury Filho
Governador do Estado de Sao Paulo
Govrno do Etado de Sao Paulo
Palacio dos Bandeirantes
Av. Morumbi 4500
Sao Paulo, SP 05698
Brazil
Sr. Eduardo Marco Modiano
Presidente
Banco Nacional de Desenvolvimeno Economico
   e Social - BNDES
Av. Republica do Chile No. 100, 110 Andar
Rio de Janeiro, RJ 20001
Brazil
Sr. Antonio Kanji Hoshikawa
Liquidante
Banco de Desenvolvimento do Estado
   de Sao Paulo S.A. - BADESP
Av. Paulieta 1776
Sao Paulo, SP 01310
Brazil
Sr. Walter Lazzarini
Diretor-Presidente
Companhia de TEcnologia de Saneamento
   Ambiental - CETESB
Av. Prof. Frederico Hormann Jr. 345
Sao Paulo, SP 05459
Brazil
Sr. Antonio Claudio Sochaczewski
Presidente
Banco do Estado de Sao Paulo S.A. - BANESPA
Av. Paulsta 1776
Sao Paulo, SP 01310
Brazil
Re:
Loan No. 2831-BR
(Second Industrial Pollution Control Project)
Amendments to Loan and Project Agreements
Dear Sirs:
Please refer to the Loan Agreement (Second Industrial Polluton Control Project) 
dated July 27, 1987 between the Federative Republic of Brazil (the Borrower), and 
Banco Nacional de Desenvolvimento Economico e Social (the Borrower's financial agent) 
and the International Bank for Reconstruction and Development (the Bank), and the 
Project Agreement of the same date between the Bank and the State of Sao Paulo (the 
State) and Banco de Desenvolvimento do Estado de Sao Paulo S.A. (the State's financial 
intermediary) and Companhia de Tecnologia de Saneamento Ambiental (CETESB).
To formalize the substitution of Banco do Estado de Sao Paulo S.A. (hereinafter 
referred to as  BANESPA) for BADESP in the Loan and Project Agreements for the 
referenced Loan, and to reflecct some other minor changes to these agreements, we are 
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enclosing for your signature a copy of an Agreement which amends the Loan and Project 
Agreements.
If you concur with this Agreement, please so indicate by signing a copy of the 
Agreement, and returning it to us.
Because of their interest in this matter, I am sending a copy of this letter to 
the Director of DEAIN and to the Procurador Geral da Fazenda.
Sincerely yours,
Armeane M. Choksi
Director
Country Department I
Latin America and the Caribbean
Enclosures