Treaty (21 December 2001)

December 21, 2001

AMENDMENT NO. 4 TO THE FINANCING AGREEMENT N°

ALA/PHI/90/21 OF 10-05/1992 BETWEEN THE EUROPEAN

COMMUNITY AND THE GOVERNMENT OF THE REPUBLIC

OF THE PHILIPPINES

"Earthquake Rehabilitation Programme"

AMENDMENT N°4 to THE FINANCING AGREEMENT N° ALA/PHI/90/21

The Commission of the European Communities, hereinafter referred to as "THE

COMMISSION", acting for and on behalf of the European Community, hereinafter

referred to as "THE COMMUNITY"

of the one part,

and

The Government of the Republic of the Philippines, hereinafter referred to as "THE

RECIPIENT"

of the other part,

have agreed as follows;

The following provisions of the Financial Agreement N° ALA/PHI/90/21

"Earthquake Rehabilitation Programme" concluded between the Community and the

Recipient on 10 May 1992 (the "Financing Agreement") are hereby

replaced/completed as follows:

Art. 2 COMMITMENT OF THE COMMUNITY

[Paragraphs land 2 unchanged]

This Financing Agreement is subject to an expiry date, after which any balance of funds remaining available under the EC GRANT shall be automatically cancelled. THE COMMISSION may, however, depending on the circumstances, agree to an appropriate extension of this expiry date, should such an extension be requested and properly justified by THE RECIPIENT. For the present project, the implementation phase shall end on 31 December 2002. The expiry date of the Financing Agreement is hereby set at 31 December 2003. ANNEX A TECHNICAL AND ADMINISTRATIVE PROVISIONSAnnex A, Technical and Administrative Provisions, is amended as shown in the revised Annex A attached to this Amendment. All other terms and conditions of the Financing Agreement and its previous riders/amendments remain unchanged. This Amendment shall enter into force on the date on which it is signed by the later of the two parties. For the Recipient For the Community Name Name Signature: (Sgd.) Signature: (Sgd.) Date: Dec. 21, 2001 Date: 15-11-2001 ANNEX A TECHNICAL AND ADMINISTRATIVE PROVISIONS 1.1. Project content and overall objective [Paragraphs 1 and 2 unchanged] - [Indent 1 unchanged] - a Health Component, which will assist in the construction of one provincial hospital (n Agoo, La Union province). This component will be implemented by the Department of Health (DoH) until 31 December 2002 inclusive of the one year guarantee period for the equipment, with a financial provision from the EC grant of EUR 13,710,100. - [indent 3 unchanged] 2.3 Time schedule The Project as a whole and the Health component will be implemented until 31 December 2002. The construction and the equipment of the Agoo hospital will be completed by 31 December 2001, with the exception of the final acceptance of the works and of the equipment, foreseen in the course of 2002 after the one year guarantee period. 2.5 Cost estimates 2.5.1 EC grant Agriculture component EUR 6,677,700 Health component EUR 13,710,100 Studies component EUR 2,212,200 TOTAL EUR 22,600,000 Detailed cost estimate is given in Appendix A.2 attached hereto APPENDIX A.2.DETAILED IMPLEMENTATION PROVISIONS RELATING TO ERP (ALA/90/21) : HEALTH COMPONENT A.2.2 FinancingThe total maximum direct cost of this component is EUR 13,710,100, to be covered entirely under the EC grant. In addition, the Government of the Philippines will cover full costs of the land required for the hospital, the additional water surveys, the access road, as well as the full cost of their staffing, operating and maintenance. [Paragraph 2 unchanged] A.2.7 Cost Estimate Original FA modified by riders Modifications Amendment 4 Budget item 1,2 and 3 In EUR In EUR In EUR DESIGN & 8,320,000 883,400 9,203,400 CONSTRUCTION EQUIPMENT 2,482,000 -62,100 2,419,900 SUPERVISION 2,325,000 -294,100 2,030,900 PILOT OUTREACH - - CONTINGENCIES 375,000 -319,100 55,900 TOTAL 13,502,000 208,100 13,710,100 [Paragraph 2 unchanged]