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BP 14.10, Annex A - Sample Letter on Financial and Economic Data: IBRD Borrowers/Guarantors

These policies were prepared for use by World Bank staff and are not necessarily a complete treatment of the subject.
BP 14.10 - Annex A
August, 2006

[Name of Member Country]



International Bank for Reconstruction and Development

1818 H Street, N.W.

Washington, D.C. 20433

United States of America

Re:  Loan No. ___________

(___________ Project)

Article VI of the General Conditions

Financial and Economic Data


Dear Sirs and Mesdames:


In connection with the Loan Agreement of this date between [name of member country borrower (Member Country) and International Bank for Reconstruction and Development (Bank)]/[International Bank for Reconstruction and Development (Bank) and [name of nonmember borrower ] providing a loan (Loan) for the above-captioned Project[, the related Guarantee Agreement of same date between [name of member country ] (Member Country) and the Bank], and the General Conditions (General Conditions) made applicable to the Loan Agreement [and Guarantee Agreement], I am writing on behalf of the Member Country to set forth the following:

1.         We understand and agree that, for purposes of Section 6.01 of the General Conditions, the Member Country is required by the Bank to report “long-term external debt” (as defined in the World Bank’s Debtor Reporting System Manual, dated January 2000 (DRSM)), in accordance with the DRSM, and in particular, to notify the Bank of new “loan commitments” (as defined in the DRSM) not later than 30 days after the end of the quarter during which the debt is incurred, and to notify the Bank of “transactions under loans” (as defined in the DRSM) once a year, not later than March 31 of the year following the year covered by the report.

2.         We represent that [, except as stated in the Annex hereto,] no Liens (as defined in the General Conditions), other than those excluded pursuant to paragraph (c) of Section 6.02 of the General Conditions, exist on any Public Assets (as defined in the General Conditions), as security for any External Debt (as defined in the General Conditions). [1]  [Except as stated in the Annex, no][No] defaults exist in respect of any external public debt (as defined in the DSRM). It is our understanding that, in making the Loan, the Bank may rely on the representations set forth or referred to in this letter.

3.         Please confirm your agreement to the foregoing by having a duly authorized representative of the Bank sign in the space provided below.


Very truly yours,

[Name of member country ]




Authorized Representative



International Bank for Reconstruction and Development




     Authorized Representative




By _________________________

      Authorized Representative



  1. If a member country is declared eligible for a waiver of the negative pledge, the Legal Department provides alternative wording for this paragraph.
BP 14.10 - External Debt Reporting and Financial Statements

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