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 CONFORMED COPY August 31, 2011 Mr. Vitali Rousak Officer-in-charge Resources Management Service United Nations Conference on Trade and Development Palais des Nations 8-14 Ave. de la Paix 1211 Geneve 10 SWITZERLAND Amendment to the Letter Agreement for the Debt Management Facility for Low Income Countries (DMF), Debt Management Financial and Analysis System (DMFAS) Program of the United Nations Conference on Trade and Development (UNCTAD) - DMF Grant No. 095594 Dear Mr. Rousak: 1. We refer to the Grant Agreement between the International Bank for Reconstruction and Development (IBRD) and 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�) to the Debt Management Financial and Analysis System (DMFAS) Program of the United Nations Conference on Trade and Development (UNCTAD) (the “Recipient�), effective November 25, 2009 as amended (the “Agreement�) by which the World Bank made a Grant in the amount of two hundred forty six thousand eighty United States dollars (US$ 246,080) (the “Grant�) to the Recipient. 2. We also refer to your letter dated July 15, 2011, requesting the World Bank to: (i) increase the Grant amount by two hundred seventy eight thousand one hundred and twenty seven United States Dollars (US$ 278,127); (ii) modify paragraph 1.1 of the Annex to the Agreement (Purposes, Terms, and Conditions of the Grant) related to the Purposes and Activities (iii) revise the table relating to the Eligible Expenditures under paragraph 7.2 of the Annex to the Agreement to reflect the revised amount of the Grant; and (iv) extend the Closing Date of the Grant from December 31, 2011 to December 31, 2012. 3. We are happy to inform you that the World Bank has considered your requests and 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: “I am writing on behalf of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), (collectively the “Bank� or 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 -2- (“DMF�) for Low-Income Countries (“LIC�), to extend a grant to the United Nations Conference on Trade and Development’s (UNCTAD) Debt Management Financial and Analysis System (DMFAS) Program (“the Recipient�) in an amount not to exceed nine hundred twenty seven thousand five hundred and thirty two United States dollars (US$927,532) (“the Grant�) on terms and conditions set forth or referred to in this letter agreement (“the Agreement�).� B) Paragraph 1.1 of Annex to the Agreement, shall be deleted in its entirety and replaced with the following: “1.1.Project Objectives and Description. The objective of the Project is to strengthen debt management capacity and institutions in developing countries in the context of the DMF. The Grant will finance missions and related outputs (related to Debt Management Performance Assessment (DeMPA), Medium Term Debt Management Strategies (MDTS), or Reform Plans), the delivery of training events and the training of the Recipient’s staff members on DMF work program-related topics.1In particular, the Project will finance the following activities in support of the objectives of the Debt Management Facility: 1. Providing country background information to the mission's task team leader (TTL) 2on debt management before the mission, including information on fiscal policy, monetary policy and legal framework related to debt management, as well as related technical assistance programs if available; 2. Drafting a summary of country strengths and weaknesses with respect to debt management, based on the above identified background information before the mission; 3. Preparing part of the write-up of the report during the mission as agreed with the TTL; 4. Providing inputs to the TTL for wrap-up presentations during the mission; 5. Incorporating peer review comments in the report and providing additional information to the TTL after the mission, as requested; 6. Participating in training events related to the DMF's work program (participants from the Recipient should be staff members who were not previously trained in the topic covered under the previous training event); and 7. The Recipient acknowledges that all materials (Debt Management Tool, brochures, reports, software) provided by the Bank to be used for the implementation of activities under this Grant may not be altered, modified, revised, or reproduced by the Recipient without the prior approval of the Bank. The Recipient acknowledges that these materials provided by the Bank are intended for use by the Recipient only for the activities under this Grant. The Recipient understands and agrees that it may not use the Bank's name in 1 World Bank’s client countries drive the application of the DMF activities. The exact number of missions will therefore depend on client countries’ demand. The Project Implementation Unit (PIU) will coordinate the missions and training schedules. 2 It is understood and agreed that the task team leader of each activity in which the Recipient's staff or its external consultants participate is a staff member of the World Bank or, in the case of an MTDS mission, either a World Bank or IMF staff member. -3- any manner whatsoever that conveys or suggests, directly or indirectly, endorsement or support by the Bank of the products or services of the Recipient outside of this Grant.� C) The table under paragraph 7.2 of the Annex to the Agreement shall be deleted in its entirety and replaced with the following: Category Cumulative Amount of the Percentage of Expenditures to Be Grant Allocated Financed (Inclusive of Taxes) (expressed in USD) Travel, Services, Training 820,825 100% Overhead Costs 106,707 100% Total 927,532 D) Paragraph 7.3 (c) (Withdrawal Period) of the Annex to the Agreement is amended to read as follows: “(c) No withdrawals shall be made from the Grant Account after December 31, 2012 or such later date that the Bank shall establish by notice to the Recipient (the Closing Date).� 4. All other terms of the Agreement shall remain the same. 5. The World Bank will disclose this Amendment and related information on this Trust Fund in accordance with the World Bank Policy on Access to Information. By entering into this Amendment, the Recipient consents to disclosure of this Amendment and related information on this Trust Fund. -4- 6. Please confirm your agreement to the foregoing, on behalf of the Recipient, by signing, dating and returning to us the enclosed copy of this Amendment. Upon Receipt by the World Bank of the copy of this Amendment countersigned by you, this Amendment will become effective as of the date of the countersignature. Sincerely, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION /s/ Jeffrey D. Lewis Director Economic Policy and Debt Department CONFIRMED AND AGREED: UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT By: /s/ Vitali Rousak Mr. Vitali Rousak Authorized Representative Title: Officer-in-charge Date: September 5, 2011