OFFICIAL                         V
DOCUMENT4 1plemental Letter No. 2
VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE
108 Tran Hung Dao Street
Ha Noi
Viet Nam
0    ,2014
International Development Association
1818 H Street, N.W.
Washington, DC 20433
United States of America
Re:       Credit No. 5249
(Inclusive Innovation Project)
Representations
Dear Sirs and Mesdames:
In connection with the Project Agreement of even date between International
Development Association (the Association), and Vietnam Joint Stock Commercial Bank for
Industry and Trade (the Project Implementing Entity), the Project Implementing Entity hereby  *   l
undertakes and warrants to the Association that:
1.     The financial statements dated December 31, 2013, copies of which have been furnished  0A C
to the Association, correctly set forth the financial and operating condition of the Project  I  VA! C
Implementing Entity as of that date, and since that date there have been no material  ONGT
0
adverse changes in the financial and operating condition of the Project Implementing
Entity.                                                                              N4
2.     The Project Implementing Entity is not engaged in litigation as plaintiff or defendant, the
outcome of which might materially and adversely affect its financial condition.
3.     Except as set forth in the financial statements referred to in paragraph I above, the
Project Implementing Entity has no outstanding agreements or liabilities, contingent or
otherwise (including taxes), which might adversely affect its financial condition.
4.     Except as set forth in the financial statements referred to in paragraph 1 above, no debt of
the Project Implementing Entity is secured by any mortgage, pledge, charge, priority, or
lien, and no contract or arrangement exists for the creation of any such mortgage, pledge,
charge, priority, or other lien.
5.     There are no existing defaults in the payment of principal of, or interest or other charges
on, any of the debts of the Project Implementing Entity.
6.     The Project Implementing Entity is not in violation of, and execution and delivery of the
Project Agreement and compliance with all its terms do not and will not result in any
violation of, any provisions of any existing agreement, franchise, concession, license, or
permit, or of any law, regulation, or any other legal rule of a similar nature presently in
effect and applicable to the Project Implementing Entity.


7.     The Project Implementing Entity is a duly existing corporation under the laws of the
Socialist Republic of Vietnam with full authority to carry out its present business, to
carry out the Project, and to execute and deliver the Project Agreement, and has furnished
to the Association true copies of its Charter dated June 10, 2011 and Business
Registration Certificate Number 0100111948 dated June 30, 2010 and of all other
legislation presently in force and effect and governing or applicable to the operations of
the Project Implementing Entity, as well as of its statutes and by-laws presently in effect
and governing the Project Implementing Entity.
It is our understanding that, in making the Credit and entering into the Project Agreement
with the Project Implementing Entity, the Association may rely on the representations contained
herein.
Sincerely yours,
VIETNAM JOINT STOC                RCIAL BANK FOR INDUSTRY AND TRADE
PHO T6NG GIAM DC
CUG~~ Wb/