LOAN COMPLETION REVIEW AND FINAL REPORT

TWO OF NINE LOAN PROJECTS (BACABAL-LAGO DA PEDRA AND BARBALHA-MILAGRES SECTIONS) WERE CANCELLED WITH A COMMENSURATE REDUCTION IN FUNDING. WITH $18.4 MILLION AUTHORIZED AND $13.15 DISBURSED FOR THE COMPLETION OF THE SEVEN IMPLANTATION OR PAVING PROJ SEGMENTS, THE LOAN IS NOW CONSIDERED FULLY DISBURSED. THE LOAN GOALS HAVE BEEN ACHIEVED. THE BORROWER HAS MET ALL COVENANTS IN THE AGREEMENT AND HAS COMPLIED WITH ALL REPORTING REQUIREMENTS. ALL AUDIT RECOMMENDATIONS HAVE BEEN SATISFACTORILY CLEARED AND MISSION MONITORING OF THE LOAN HAS BEEN COMPLETED.