OFFICIAL
DOCUMENTS
THE WORLD BANK
The World Bank                                    Ghana Office
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT  Independence Avenue  Tel: (233-21) 229681 220837
INTERNATIONAL DEVELOPMENT ASSOCIATION             King Hassan Street, #3  Fax: (233-21) 227887
Accra, Ghana
FebrQC    J   '5        2019
Honourable Kenneth Ofori-Atta
Minister
Ministry of Finance
Accra
Republic of Ghana
Honourable Ofori-Atta:
Republic of Ghana: Public Financial Management Reform Project (Credit No. 5640-GH)
Amendment to the Financing Agreement
1.     We refer to the Financing Agreement between the Republic of Ghana ("Recipient") and the
International Development Association ("Association") concerning the Public Financial Management
Reform Project dated August 5, 2015 (the "Agreement").
2.     Pursuant to recent discussions between the Recipient and the Association, the Association proposes
to amend the Agreement as follows:
(a)    Part A of Schedule I to the Agreement is hereby deleted in its entirety and replaced to read
as follows:
"Part A. Enhancing Budget Credibility
Carrying out a program of activities to improve budget management and strengthen the
credibility of the Recipient's national budget, such program to consist of:
I. Strengthening budgetary planning and macro-fiscal management through, inter alia:
(a) strengthening the engagement of the Recipient's Cabinet in the budget process and
designing a charter to establish budget principles, roles and responsibilities; (b)
designing a budget framework paper for obtaining approval of medium-term fiscal
forecasts; (c) building the capacity of national government institutions to develop
sector strategies and sector medium-term development plans; (d) strengthening
linkages between fiscal forecasting and analysis and budget formulation and execution;
and (e) building forecasting and debt management capacities of relevant government
units.


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2. Strengthening the budget operational framework and systems, and building the
capacity of national government institutions in implementing program-based
budgeting."
(b)    Section IV.B.2 of Schedule 2 to the Agreement is hereby deleted in its entirety and replaced
to read as follows:
"2.    The Closing Date is December 31, 2020."
3.     All other provisions of the Agreement, except as amended herein, shall remain in full force and
effect.
4.     Please indicate your agreement with the foregoing amendments on behalf of the Recipient by
countersigning and dating the two original copies of this amendment letter and returning one countersigned
original to us. Upon receipt by the Association of this countersigned original, this amendment shall become
effective as of the date of your countersignature.
Yours sincerely,
INTERNATIONAL DEVELOPMENT ASSOCIATION
Henry Kerali
Country Director for Ghana
Africa Region
AGREED:
REPUBLIC OF GHANA
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Authorized Representative
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