THE WORLD BANK                         OFFICIAL
IBRD * IDA I WORLD BANKGROUP
His Excellency
Mr. Ivdn Acosta
Minister of Finance and Public Credit
Ministry of Finance and Public Credit
Managua, Republic of Nicaragua
Re: NICARAGUA- Grant No. TF015143
Education Sector Strategy Support Project
Amendment No. 2 to the Grant Agreement
Excellency:
Please refer to the Grant Agreement (the Grant Agreement), dated September 17, 2013, as amended
to date, between the Republic of Nicaragua (the Recipient) and the International Development Association
(the World Bank) acting as administrator of the Nicaragua Education Sector Strategy Multi-Donor Trust
Fund (the Trust Fund) for the above referenced Project. Please note that capitalized terms used in this letter
(Amendment Letter) and not defined herein have the meaning ascribed to them in the Grant Agreement.
As you are aware, per the variations in the Euro-Dollar exchange rate, in February of 2016, the
original Grant amount of thirty-three million three hundred eighty-six thousand six hundred and eight
Dollars (USD 33,386,608) was reduced to thirty-one million three hundred twenty-two thousand six
hundred fourteen Dollars (USD 31,322,614) through an amendment which included a cancellation in the
amount of two million sixty-three thousand nine hundred ninety-four Dollars (USD 2,063,994).
More recently, also due to variations in the Euro-Dollar exchange rate, there has been an increase
in the amount available to the World Bank from the Trust Fund provided to it by the Donors in Dollar
equivalent for the purposes of the Grant.
In view of the foregoing, and in accordance with the provisions of Section 3.02 of the Standard
Conditions for Grants Made by the World Bank out of various Funds applicable to the Grant Agreement,
the World Bank hereby increases the total amount of the Grant (after the cancellation referred to above), as
of the date of this Amendment Letter, by an amount equal to one million three hundred sixty-five thousand
six hundred fifty-five Dollars and seventeen cents (USD 1,365,655.17). Therefore, as of the date of this
Amendment Letter, the total Grant amount has been revised to thirty-two million six hundred eighty-eight
thousand two hundred sixty-nine Dollars and seventeen cents (USD 32,688,269.17).
Section 3.01 of Article III ("The Grant") of the Grant Agreement now reads as per the paragraph
below and the withdrawal table set forth in Section IV.A.2 of Schedule 2 to the Grant Agreement has been
revised accordingly as per the attachment to this Amendment Letter.
"3.01.  The World Bank agrees to extend to the Recipient, on the terms and conditions set forth or
referred to in this Agreement, a grant in an amount equal to thirty-two million six hundred
eighty-eight thousand two hundred sixty-nine Dollars and seventeen cents (USD
32,688,269.17)."
Except as specifically amended in this Amendment Letter, all other terms and conditions of the
Grant Agreement shall remain in full force and effect.


THE WORLD BANK
IBRD *IDA I WORLDBANKGROUP
Please confirm your agreement with the foregoing amendment by signing, dating and returning to
us the enclosed copy of this Amendment Letter. This Amendment Letter will be executed in two
counterparts, each of which shall be an original. The provisions of this Amendment Letter will become
effective as of the date first above-written, upon the receipt by the World Bank of a countersigned original
of the Amendment Letter.
Sincerely,
INTERNATIONAL DEVELOPMENT ASSOCIATION
By__
Christian Albert Peter
Acting Director
Central America
Latin America and the Caribbean Region
AGREED:
REPUBLI 0       ICARAGUA
By:                                         MINISTRO
(A   orized Representative)
Name: T-1~\C- 7N\C'Os
Title: "Nin,isV-c> c   A    okc   -ck
Date: 06Cle 0UVLAre 1011


THE WORLD BANK
IBRD * IDA I WORLDBANKGROUP
Attachment
Revised Withdrawal Table
Amount of the     Percentage of
Grant Allocated  Expenditures to be
Category                     (expressed in       Financed
USD)        (inclusive of Taxes)
(1) Works, goods, non-consulting Services,
consultant's services, Operating Costs and Training
for Parts 2 and 4 of the Project               32,688,269.17        100%
Cancellation as of February, 2016            2,063,994
TOTAL AMOUNT INCLUDING CANCELED                34,752,263.17
AMOUNT
FINAL GRANT AMOUNT MADE                       32,688,269.17*
AVAILABLE TO THE RECIPIENT
* The final Grant amount made available to the Recipient reflects: (i) the original Grant amount of
USD 33,386,608; (ii) minus the cancellation made as of February, 2016 in the amount of USD
2,063,994; (iii) plus the additional funds provided through this Amendment Letter in the amount
of USD 1,365,655.17.