DOCUMENTS

                               STATUTORY COMMITTEE REPORT




TO:   The President, International Bank for Reconstruction and Development




      Report of Committee under Section 4 (iii) of Article III of the Articles of Agreement on the
      Proposed Loan (Second Irrigation and Drainage Improvement Project) to the Republic of
      Kazakhstan.


      The undersigned Committee constituted under Section 7 of Article V of the Articles of Agreement
of International Bank for Reconstruction and Development (the Bank) hereby submits its report pursuant
to Section 4 (iii) of Article III of said Articles in respect of the proposal that the Bank grant to the
Republic of Kazakhstan (the Borrower) a loan in an amount of $102,902,440. The purpose of said loan is
to improve irrigation and drainage service delivery to support farmers in the Project areas.


1.    The Committee has carefully studied the merits of the proposal to grant such a loan, and of the
purpose to which the proceeds of the loan are to be applied.


2.    The Committee is of the opinion that the Project in support of which the proceeds of such loan are
to be applied comes within the purposes of the Bank as set forth in Article I of said Articles of Agreement,
and that said Project is designed to promote the development of the productive facilities and resources of
the Republic of Kazakhstan and is in the interest of the Republic of Kazakhstan and of the members of the
Bank as a whole.
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Republic of Kazakhstan                           (Second Irrigation and Drainage Improvement Project)


3.    Accordingly, the Committee finds that said Project merits financial assistance from the Bank, and
hereby recommends said Project for such assistance.




                                                       COMMITTEE



                                                       Senior                     oup    eneral Counsel




                                                                       Expert Selected by Governor for
                                                                           the Republic of Kazakhstan




                                                                                Regional Vice President
                                                                               Europe and Central Asia




Dated at Washington, D.C.


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