THE WORLD BANK I WORIBANKGROUP OFFICIAL DOCUMENTS 5 , 2020 H.E. Dr. Rania Al-Mashat Minister of International Cooperation Ministry of International Cooperation 8 Adly Street Cairo, Arab Republic of Egypt Re: Loan No. 9033-EG (Additional Finance for the Inclusive Housing Finance Program) Additional Instructions: Disbursement and Financial Information Letter Excellency: I refer to the Loan Agreement between the Arab Republic of Egypt (the "Borrower") and the International Bank for Reconstruction and Development (the "World Bank") for the above- referenced Project. The General Conditions, as defined in the Loan Agreement, provide that the Borrower may from time to time request withdrawals of Loan Amounts from the Loan Account in accordance with the Disbursement and Financial Information Letter, and such additional instructions as the World Bank may specify from time to time by notice to the Borrower. The General Conditions also provide that the Disbursement and Financial Information Letter may set out Project specific financial reporting requirements. This letter constitutes such Disbursement and Financial Information Letter ("DFIL"), and may be revised from time to time. I. Disbursement Arrangements, Withdrawal of Loan Funds, and Reporting of Uses of Loan Funds (i) Schedule 1. The table in Schedule I sets out the disbursement methods which may be used by the Borrower, information on registration of authorized signatures, processing of withdrawal applications (including processing of advances), instructions on documentation, and reporting of advances. (ii) Withdrawal Applications. Applications for withdrawal from the Loan Account ("Withdrawal Applications") of amounts of the Loan allocated to individual Disbursement Linked Results ("DLIR") may, pursuant to the provisions of Section IV of Schedule 2 of the Loan Agreement, be sent to the World Bank at any time after the World Bank has notified the Borrower in writing that it has accepted evidence of achievement of the specific DLR. (iii) Withdrawal Amount. The Withdrawal Application may be for an amount not to exceed the amount of the Loan confirmed by the World Bank for the specific DLR in respect of which the withdrawal is requested, as specified in the World Bank's notice to the Borrower, -2- (iv) Prior Results. Upon confirmation from the World Bank that it has received satisfactory evidence that the DLRs referred to in categories 8.1 and 8.2 of the Table in the Loan Agreement have been achieved, the Borrower may withdraw the amount of USD 34,000,000 after the Loan Agreement has been declared effective. (v) Advances and Recovery of Advances. The Borrower may, in accordance with provisions of the Loan Agreement, request advances of amounts of the Loan allocated to DLIs that have not yet been achieved using the Form attached (Attachment 2). The World Bank records an amount of the advance as disbursed for an achieved DLR ("recovered") after it has notified the Borrower of its acceptance of the evidence of achievement of the DLR for which the advance was provided. The amount so reclassified becomes available for further advances in accordance with the preceding paragraph. (vi) Electronic Delivery. Section 10.01(c) of the General Conditions. The Borrower shall deliver Withdrawal Applications (with supporting documents) electronically through the World Bank's web-based portal "Client Connection" at https clientconnection.worldbank.org, This option will be effected after the officials designated in writing by the Borrower who are authorized to sign and deliver Withdrawal Applications have registered as users of"Client Connection". The designated officials shall deliver Withdrawal Applications electronically by completing the Form 2380, which is accessible through "Client Connection". By signing the Authorized Signatory Letter, the Borrower confirms that it is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the World Bank by electronic means. The Borrower may exercise the option of preparing and delivering Withdrawal Applications in paper form on exceptional cases (including those where the Borrower encounters legal limitations), and which were previously agreed with the World Bank. By designating officials to use SIDC, the Borrower confirms through the authorized signatory letter its agreement to: (a) abide by the Terms and Conditions of Use of Secure Identification Credentials in connection with Use of Electronic Means to Process Applications and Supporting Documentation, available in the World Bank's public website at https: worldbank.org and "Client Connection", and (b) to cause such official to abide by those terms and conditions. II. Financial Reports and Audits. Section 5.09 of the General Conditions. (i) Financial Reports. The Borrower through the Program Implementing Entity must prepare and furnish to the World Bank not later than sixty (60) days after the end of each calendar semester, interim unaudited financial reports ("[FR") for the Project covering the semester. (ii) Audits. Each audit of the Financial Statements must cover the period of one fiscal year of the Borrower, commencing with the fiscal year in which the first withdrawal was made. The audited Financial Statements for each such period must be furnished to the World Bank not later than six (6) months after the end of such period. III. Other Important Information For additional information on disbursement arrangements, please refer to the Loan Handbook available on the World Bank's website (http: www.worldbankorg-) and "Client Connection". The World Bank recommends that you register as a user of "Client Connection". From this website you will be able to prepare and deliver Withdrawal Applications, monitor the -3- near real-time status of the Loan, and retrieve related policy, financial, and procurement information. For more information about the website and registration arrangements, or if you have any queries in relation to the above, please contact the World Bank by email at Ask Loan!o WorldBank.org using the above reference. Yours sincerely, By: &t Marina Wes Country Director for Egypt Middle East and North Africa Region Attachments: 1. Form of Authorized Signatory Letter. 2. Sample Form for Advances. w � С � �й О о t � s � •V гл Е а о а i � с �. p�q' Q м � � U у " �? гСа t у � N С а о � � U Et Е ° � о Е � о � � х., о ^ р., у rл ° гл �v и � "'а °о '� о и О � о ." и � ❑ � д � � .sG �..� � � s т s ., 7 'v � 00 аа Q Е � 'G _ гэ О � L С О О N � � � С О Я ��' �❑ � а о, fi 3 •_О й_ �« bA � � ti � й _ а� � U д А С iв Lч у � � л�О "G fб Г�w 0 п7 _ '. '"� �б > � � О. р] ¢ С '.5i ,� �. и .и О � •р С � ` �, � С ° ❑ и р .� :. с3 и .й н С � � у � � ^ •� ,� гп ° О W � � > >1 О � ._О и_ 0. «. �, � У � С '� о ` :� с � � л и ^�и, С! 'д га р a=i � � с" о vj 'О `а � � у G Q. у О W сд N р,,, N :. Е ''-' с.. � '+7 ° �� С�� а а � '� ° °Е' � '�'' � � `Q '° °° о � � � д' д �.� � � г��" и С °� 4' ��i О 3 ' д �'А �j г��,,,� ,S"', Lt+ С 'С О t � � � � �д ° о •°- � гs. � '� Е .�, � п .� �3 ❑ °�' с�. О qyi й .^�. О,� •у С .. � й ,= С � � _ � и О � с�а'_� отэ �� � ° ' 3 �3 :б ,я ¢��UQx a�i U � е ~`�.� � у а> .С � в. � � �О � � й � олn � � � � ° v° w � � д � � r, и �, С 0 'О ° Е� r^j � G � � .С � � С и �. � �-, О � сд ai С � У' s. +. � j-� }� � s. а� _ 61 ri..i �+ ьСr у� v 7 и О � О б� ь�. � С � R U � а� Е с рд �а • � . о Uд� Z4 � „иС ¢ о � и й а� � о •� � �. 3 БVь,1 о > , � .U�. о с z U � � °-' А � м а � о С R� � а°i С - о � ro � Q � � �с У о а+ � � о С i, и� с ¢ а �° � и, к ° у Е.° �в г� С � Е С 'i � � N � � ?� сб N _ _ � ° " �' � � Е °С' ��3¢ � О ~С � � :1.� ro � 0� � ,Е "а Z ." �1 й->р fi а ^� у 3 ° д � ¢ w � ¢ R ¢ Attachment I Form of Authorized Signatory Letter [Letterhead] Ministry of Finance [Street address] [DATE] The World Bank 1818 H Street, N.W. Washington, D.C. 20433 United States of America Attention: [Country Director] Re: Loan No. 9033-EG (Additional Finance for the Inclusive Housing Finance Program) I refer to the Loan Agreement between the International Bank for Reconstruction and Development (the "World Bank") and [name of borrower] (the "Borrower"), dated , providing the above Loan. For the purposes of Section 2.02 of the General Conditions as defined in the Agreement, any L[one] of the persons whose authenticated specimen signatures appear below is authorized on behalf of the Borrower to sign applications for withdrawal under this Loan. For the purpose of delivering Applications to the World Bank, 2[each] of the persons whose authenticated specimen signatures appears below is authorized on behalf of the Borrower, acting '[individually] 4[jointly], to deliver Applications, and evidence in support thereof on the terms and conditions specified by the World Bank. This confirms that the Borrower is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the World Bank by electronic means. In full recognition that the World Bank shall rely upon such representations and warranties, including without limitation, the representations and warranties contained in the Tcrins and Con&tio)ts of Use of Secure I Instruction to the Borrower: Stipulate if more than one person needs to sign Applications, and how many or which positions, and if any thresholds apply. Please delete thisfootnote infinal letter that is sent to the Batik. Instruction to the Borrower: Stipulate if more than one person needs tojoinilv sign Applications, if so, please indicate the actual number. Please delete thisfoolnote infinal letter that is sent to the Batik. I Instruction to the Borrower: Use this bracket if any one of the authorized persons may sign, if this is not applicable, please delete. Please delete thisfootnote infinal letter that is sent to the Batik. 4 Instruction to the Borrower: Use this bracket only if several individuals must jointly sign each Application; if this is not applicable, please delete. Please delete thisfoottiote infinal letter that is sent to Ilse Batik. -6- Identification Credentials ti connection with Use of Electronic Means to Process Applicatins and Supporting Docwentation ("Terms and Conditions of Use of SIDC"), the Borrower represents and warrants to the World Bank that it will cause such persons to abide by those terms and conditions. This Authorization replaces and supersedes any Authorization currently in the World Bank records with respect to this Agreement. (Name], [position] Specimen Signature: [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: Yours truly, / signed / [Position] -7. Attachment 2 Sample Form for Advances [Ministry:Implementing Agency Letterhead] [Date] Loan Department !name of Regional Center] The World Bank [address of regional centerl Attention: [name of regional center team lead] Subject: Re: IBRD Loan _- [name of Program/Operation) -Request for Advance Dear Sir.Madam, We refer to the Loan Agreement between the International Bank for Reconstruction and Development (the "World Bank") and [insert the name of the Borrower] (the "Borrower") dated [insert date] providing for the above Loan. In accordance with the provisions of the Disbursement Letter and Schedule _, Section of the Loan Agreement, to support the implementation of the above Program and to facilitate the achievement of the planned results, we request an Advance in the amount of [insert amount]'. [We request that the Advance be disbursed in [currency requested for disbursement] equivalent to the Total Advance Requested above.]2 We acknowledge that the amount disbursed will be charged to the Loan Account in the currency of the Financing at the rate of exchange in effect at the time of disbursement. Sincerely, l insert Name, and Position]' The Proposed Advance should be in the currency of the DLI DLR as set out in the disbursement table in the Loan Agreement, and in accordance with provisions in the Disbursement and Financial Information Letter. Normally, this is the currency of commitment of the loan. 2 Use this text to designate the currency of the Advance if it should be different from the currency set out in the disbursement table in the Loan Agreement. To be signed by a representative of the implementing coordinating agency of the Borrower, OR by the person(s) authorized on behalf of the Borrower to sign applications for withdrawal under the loan as set out in the applicable Authorized Signatory Letter.