제15985호                          관                 보                  2005. 5. 4. (수요일)

WHEREAS, the Government of the Republic               31, 2006(the“Combined Audit”) for both
of Korea(“Korea”), and the Inter-American             Funds, in lieu of the audit requirement
Development Bank(the“Bank”), entered into             specified in each Article VI, Section 2 of the
an Agreement concerning the Establishment             Agreements. The Combined Audit will be
of the Korean Trust Fund for Technical                the only audit performed for both Funds
Cooperation(the“TC Fund”) as of December              and, if the Funds areterminated asof that
21, 2000(the“TC Agreement”);                          date, will also satisfy the termination audit
WHEREAS, Korea and the Bank further                   requirement contained in each Article VI,
entered into an Agreement concerning the              Section 2 of the Agreements. The cost of
Establishment of the Korean Trust Fund for            the Combined Audit will be shared equally
Technical Cooperation to the Republic of              between theFunds. In the eventthe Funds
Colombia(the“Colombia Fund”
                          ) as of May 20,             are not terminated as of December 31,
2002(the“Colombia Fund Agreement”);                   2006, the external auditors of the Bank will
WHEREAS, since its creation, the TC Fund              perform subsequent audits every five years
and the Colombia Fund(together, the“Funds”
                                         )            thereafter and upon termination of each of
have been successfully used to finance                the Agreements.
technical cooperation activities, including       2. This Amendment will enterinto forceon

consulting services and training for the              thedate of its signature by both Korea and

benefit of the Bank’s borrowing member                the Bank and will constitute an amendment

countries; and                                        to, and form an integral part of, the

WHEREAS, Korea and the Bank hereby desire             Agreements.
                                                  3. For the avoidance of doubt, all other terms
to amend the audit requirements contained in
                                                      and provisions of the Agreements not
each Article VI, Section 2 of the TC Agreement
                                                      expressly modified hereinwill remain in full
and the Colombia Fund Agreement(together,
                                                      force and effect.
the“Agreements”).
                                                      The Government of the Republic of Korea
NOW, THEREFORE, Korea and the Bank
                                                      and the Inter-American Development Bank,
agree as follows:
                                                      acting through its authorized representative,
1. With reference to the requirements of
                                                      have each signed this Amendment in two
 Article VI, Section 2 of the TC Agreement,
                                                      original counterparts in the English
 the audit requirement for the five-year              language on the dates indicated below.
 period ending December 31, 2005 will be          FOR THE GOVERNMENT FOR THE INTER-
 extended to a six-year period ending             OF THE REPUBLIC OF AMERICAN
 December 31, 2006. Further, Korea agrees         KOREA                      DEVELOPMENT BANK
 that the Bank will furnishonly one, combined     ................................. ..............................
 audited financial statement as of December       Date :                     Date :

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