OFFICIAL
DOCUMENTS
The World Bank                                   1818 H Street N.W.         (202) 477-1234
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT  Washington, D.C. 20433  Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION           U.S.A.                      Cable Address: INDEVAS
Date:                     2017
H.E. Sahar Nasr
Minister of Investment and International Cooperation
Ministry of Investment and International Cooperation
Cairo, Arab Republic of Egypt
Excellency:
Re:    Promoting Innovation for Inclusive Financial Access Project
Amendment to the Loan Areement (Ln.No.8345-EG)
We refer to the: (i); Loan Agreement dated April 12, 2014, between the Arab Republic of Egypt
("Borrower") and International Bank for Reconstruction and Development ("Bank"), for the above-
mentioned Project ("Loan Agreement"); and (ii) Project Agreement dated April 12, 2014, entered into
between the International Bank for Reconstruction and Development ("Bank") and the Social Fund for
Development (SFD, the "Project Implementing Entity") for the above-mentioned Project ("Project
Agreement"). We further refer to your letter dated July 03, 2017, requesting the Bank to make certain
changes to the Loan Agreement.
We are pleased to inform you that the World Bank has agreed to your request and consequently the
Loan Agreement is amended as set forth below:
1.     All references to "SFD" and "Social Fund for Development" shall be construed as references to the
"Micro, Small and Medium Enterprise Development Agency", provided for in this Loan
Agreement.
2.     Section 3.01 under Article III of the Loan Agreement is amended to read as follows:
"3.01. The Borrower declares its commitment to the objective of the Project. To this end, the
Borrower shall carry out the Project through the Project Implementing Entity (Micro, Small and
Medium Enterprise Development Agency) in accordance with the provisions of Article V of the
General Conditions and the Project Agreement."
3.     Section 4.01 of Article IV of the Loan Agreement is amended to read as follows:
"4.01. The additional Event of Suspension consists of the following, namely, that any legislation,
license or other legal instrument related to the establishment or operation of the Micro, Small and
Medium Enterprise Development Agency or to the implementation of its activities under the Project
has been amended, suspended, abrogated, repealed or waived so as to affect materially and
adversely the ability of the Micro, Small and Medium Enterprise Development Agency to perform


e
any of its obligations under the Project. Any suspension based on this Section shall continue until
the event (or events) which gave rise to the suspension has (or have) ceased to exist, unless the
Bank has notified the Borrower that such right to make withdrawals has been restored."
4.     Paragraphs 10 and 12 of the Appendix to the Loan Agreement are amended as follows:
"10.   "Project Implementing Entity" and "PIE" means the Micro, Small and Medium Enterprise
Development Agency, an entity established and operating in the territory of the Borrower under
Prime Ministerial Decree No. 947 of 2017.
12.    "Project Implementing Unit" and "PIU" means the Unit established by the Micro, Small
and Medium Enterprise Development Agency for the purposes of managing, monitoring and
evaluating the implementation of the Project."
All other provisions of the Loan Agreement remain in full force and effect, except as specifically
amended by this Amendment Letter.
Please confirm your agreement to the foregoing on behalf of the Borrower by countersigning and
dating the corresponding form of confirmation set forth below, and returning one fully executed original of
this letter to us and retaining one original for your records. This amendment letter shall become effective
as of the date of this letter, upon receipt by the Bank of the countersigned copy of this letter.
Sincerely yours,
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
Tracey M. Lane
Acting Country Director
Egypt, Yemen and Djibouti
AGREED AND CONFIRMED:
ARAB REPUBLIC OF EGYPT
By:
/,"orized Repre    tive
Name:
Title:  t'v~f(                ~        c      ~~~
Date:     ~     /     5~
-2-