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JANAMITRA DEVAN                                                                  LIL
Vice President and Head of Network
Financial and Private Sector Development        OFFC        .               (
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DOCUMENTS
ra_? T20 12
Ms. Nemat Shafik
Deputy Managing Director
International Monetary Fund
Washington, D.C., 20431
U.S.A.
Dear Ms. Shafik
FIRST Technical Assistance Sub-account
Middle-Income Countries (TF090902)
Addendum 14 to the Letter of Understanding
1.     Further to the Letter of Understanding between the International Bank for Reconstruction and
Development and the International Development Association (collectively, the "Bank"), as administrator
of the Multi-Donor Trust Fund for Middle-Income Countries for the Financial Sector Reform and
Strengthening Initiative (the "Trust Fund"), acting on behalf of the donors to the Financial Sector Reform
and Strengthening Initiative ("FIRST") that have signed administration arrangements for the Trust Fund
with the Bank (the "Administration Arrangements", or each an "Administration Arrangement"Xthe
"Donors"), and the International Monetary Fund ("IMF") (the "Letter of Understanding"), dated
September 18, 2007, the Bank, acting on behalf of the Donors, will contribute to the FIRST Technical
Assistance Subaccount (the "Subaccount") an additional grant in the amount of USD 356,250 (three
hundred and fifty-six thousand, two hundred and fifty United States dollars) (the "Contribution") to
finance FIRST's technical assistance projects to support middle-income countries.
2.     The Contribution will be deposited within 90 days after this Addendum to the Letter of
Understanding has become effective.
3.     The Contribution will be subject to the provisions of the above referenced Letter of
Understanding.
4.     This Addendum to the Letter of Understanding will become effective on the first business day
following the date it is duly dated and signed by an authorized representative of the latter of the parties.


International
THE WORLD BANK               Finance Corporation
THE~ WORLd Bank GroupC
5.     Please confirm that the arrangements set out above are acceptable by signing and dating the two
original copies of this Addendum and returning it to us.
Executed in two original documents in English.
For the International Bank for Reconstruction and Development
International Development Association
acting as administrator of the Trust Fund
on January 9, 2012
Janamitra Devan
Vice President and Head of Network
Financial and Private Sector Development
For the International Monetary Fund on January , 2012
Nemt-+Sh&Ftk-
Pepoty 44anagiNg Pir@e4o
JR. osales
Director
Office of Technical Assistance Management
Office of the Managing Director