The World Bank                         DOCUWW                          (202) 473-1000
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT  Washington, D. 20433  Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION  -1Cable Address: INDEVAS
12     '2~      ,2013
Mr. Carlo Monticelli
Head of International Financial Relations
Department of the Treasury
Ministry of Economy and Finance
Via XX Settembre, 97
00187 Rome, Italy
Amendment to the Contribution Agreement between the Government of
the Republic of Italy and the International Development Association
concerning the Debt Relief Trust Fund (TF No. 023832)
Dear Mr. Monticelli:
1. We refer to the Contribution Agreement between the Government of the Republic of
Italy (the "Donor") and the International Development Association ("IDA")
concerning the Debt Relief Trust Fund (the "Trust Fund", formerly the HIPC Trust
Fund), dated September 25, 2000, as amended (the "Agreement"). Unless otherwise
defined herein, capitalized terms used but not defined in this letter have the meanings
given to them in the Agreement.
2. Paragraph 3(d) of the Trust Fund Resolution, which is incorporated into and forms
part of the Agreement authorizes IDA, as Administrator of the Trust Fund, to invest
funds held in the Trust Fund pending disbursement, and provides that "all the income
from such investment shall be credited to, and used exclusively for the purposes of
the Trust Fund, except that if a donor so requires, the income from the investment of
the funds provided by that donor shall be paid to the donor."
3. IDA, as Administrator of the Trust Fund, and the Donor hereby agree that the amount
of One Million United States Dollars (USD 1,000,000), representing a portion of the
Donor's share of the unallocated investment income in the Trust Fund, shall be
transferred by IDA, as Administrator, from the Trust Fund into the Debt Service Trust
Fund for the Palestinian Authority (TF No. 072025) (the "Debt Service Trust Fund"),
to be administered by IDA, in order to provide debt relief to the Palestinian Authority
on credits financed by the Trust Fund for Gaza and West Bank ("TFGWB",
established by Resolution No. 93-11 and IDA No. 93-7 as amended) and administered
by IDA. The Donor understands that other donors are also expected to contribute to
the Debt Service Trust Fund.


4. From the date of effectiveness of this Amendment until February 29, 2016, IDA, as
Administrator of the Debt Service Trust Fund, shall use funds transferred to the Debt
Service Trust Fund and any investment income earned on such contributions to repay
any amounts due on any TFGWB credits outstanding as of the date of this
Amendment in such manner as IDA may, in its discretion, determine.
5. Such transfer shall be made promptly following countersignature of this Amendment.
6. IDA will disclose this Amendment and related information on this Trust Fund in accordance
with the World Bank Policy on Access to Information. By entering into this Amendment, the
Donor consents to disclosure of this Amendment and related information on this Trust Fund.
7. Please confirm your agreement with the foregoing, on behalf of the Donor, by
signing, dating, and returning to us the enclosed copy of this Amendment. Upon
receipt by IDA of the copy of this Amendment countersigned by you, this Amendment
will become effective as of the date of the countersignature.
Sincerely,
INTERNATIONAL DEVELOPMENT ASSOCIATION,
AS ADMINISTRATOR OF THE DEBT RELIEF TRUST FUND
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AcTif Vice President
Concessional Finance and Global Partnerships
AGREED:
THE GOVERNMENT OF
THE REPUBLIC F ITALY
)  Date: HAc, H   I1     I?
-Vr-lMonticelly
Head of Intem ional Financial Relations
Department of the Treasury
Ministry of Economy and Finance