THE WORLD BANK IBRD. IDA WORLDBANKG(IDUP A;u5le Tano Kouame Country Dreclor Tukey Country Unit Euope a”d Central As:a Reg on December 21, 202! Mr. ibrahirn Haul Oztop General Manager TORKiYE KALKINMA VE YATIRIM BANKASI A.S. Saray Mahallesi Dr. Adnan BUyGkdenizCd. No:l0 34768 Urnraniye Istanbul, Turkey Re: IBRO Loan No. 9319-TR (Additional Financing for the Turkey Geothermal Development Project) Additional Instructions: Disbursement and Financial Information Letter Dear Sir: I refer to the Loan Agreement between TURKIYE KALKINMA VE YATIRIM BANKASI A.. (the “Borrower”) and the Intemational Bank for Reconstruction and Development (“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 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 (“DIlL”), and may be revised from time to time. I. Disbursement Arrangements, Withdrawal of Loan Funds, and Reporting of Uses of Loan Funds The Dishwsen;enr Guidelines for hn’esnne,ir Projeci Financing, dated February 2017 (“Disbursement Guidelines”) are available in the Bank’s public website at J/wu .wo ink.or’ and its secure website “Client Connection” at https://clientconnection.worldbank.onj. The Disbursement Guidelines are an integral part of the DFIL. and the manner in which the provisions in the Disbursement Guidelines apply to the Loan is specified below. (I,) Dishurscnwnt Arrangesnent The table in Schedule I sets out the disbursement methods which may be used by the Borrower. [and conditions]. information on registration of authorized signatories, processing of Withdrawal Applications (incltiding minimtim value of applications and processing of advances), instruclions on supporting documentation, and frequency of reporting on the Designated Account(s). (ii,i Wills Un: wal Applications Electronic Deliverj” The Borrower will deliver Withdrawal Applications (with supporting documents, “Applications”) electronically through the Bank’s web-based portal “Client Connection” at hnps:;cliernconnection.worldbanLon, This option will be effected after the officials designated in writing Section 10.01 (c) of the General Conditions Turkey Country Office ‘ Uuur Mumcu Caddesi 88 2nd Floor, 06700, Gaziosmanpasa ‘ ANKARA — TURKEY Tel: (90-312)4598300 Fax: (90.312) 446 21 42 2 by the Borrower who are authorized to sign and deliver Applications have registered as users of “Client Connection”. The designated officials will deliver 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 Bank by electronic means. The Borrower may exercise the option of preparing and delivering Applications in paper form on exceptional cases (including those where the Borrower encounters legal limitations), and which were previously agreed with the Bank. By designating officials to use SIDC and by choosing to deliver the Applications electronically, 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 Banks public website at https://www.worldbanL.ori and “Client Connection” at https://clientconnection.worIdbank.on; and (b) to cause such officials to abide by those terms and conditions. II. Financial Reports and Audits2 (0 Fb,anchd Reports, The Borrower mtist prepare and lhmish to the Bank not later than forty-five (45) days after the end of each calendar semester. interim unaudited financial reports (“IFRs”) for the Project covering the semester. (/0 Audits’. Each audit of the Financial Statements must cover the period of one (I) 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 Ilirnished to the Bank not later than six (6) months after the end of such period. Ill. Other Important Information For additional information on disbursement arrangements, please refer to the Loan Handbook available on the Bank’s public website at httpj//www.worldbank.or and “Client Connection” at https://clientconnection.worldbank.org. The Bank recommends that you register as a user of “Client Connection”. From this website you will be able to prepare and deliver Applications, monitor the 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 Bank by email at askloans?worldbank.org using the above reference. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Auguste Tano Kouame Country Director, Turkey Country Unit Europe and Central Asia Region 2 Section 5.09 of the General Conditions 3 A flack ments’ I. Form of Authorized Signatory Letter 2. Form of Statement of Expenditure (SOE) With copies: Mr. Serhat Koksal, PhD Acting Director General General Directorate of Foreign Economic Relations Ministry of Treasury and Finance T.C. Flazine ye Maliye Bakanligi inonU Bulvari No. 36. EmeL. Ankara, 06510 Republic of Turkey 4 Schedule I Disbursemeni Provisions A. Basic Information Countn’ TURKEY Closing Dale Section 111.8.2. of Schedule 2 to Borrower TURKIYE KALKINMA yE the Loan Aereement. Loan IBRD , . YATIRIM BANKASI i\uinber 9319- ‘1 R Name of the Project Additional Financing for the Turkey Disbursement Four (4) months after the closing Geothermal Development Project Deadline Date3 I date B. Disbursement Methods and Supporting Documentation Disbursement Methods4 Methods Supporting Documentation5 Direct Payment Yes Records (Supplier Invoices/Copy of Receipts) Reimbursement Yes Statement of Expenditure, in the format provided in Attachment 2 of the DFIL . Advance (into a Designated Yes DA-D: Statement of Expenditure, in the format provided tn Attachment 2 of the DFIL Account) Special Commitments Yes Copy of Letter of Credit C. Designated Account(s)6 Type tint! 4!anageinent Unit DA-D: Segregated ceiling DA-D: Fixed - Financial Jnstitntfrn, Ntone DA-D: TURKIYE KALKINMA VE YATIRIM BANKASI AS. carre’wt’ DA-D: USD Frequency of Reporting’ DA-D: Monthly Amount DA-D: 30,000,000 ‘Tas D. Minimum Value of Applications8 The minimum value of applications for Direct Payment, Reimbursement and Commitment Issuance-SC is USD 1.000,000 equivalent. E. Authorized Signatories9 Withdrawal aiit! Documentation Applications’0 The form for Authorized Signatory Letler is provided in Attachment I of this letter. All Applications and its supporting documentation, and Authorized Signaton’ Letter will be electronically sent via the Bank’s system “Client Connection”. a F. Additional Ilnfonnntionlllnstructionsl N/A For suites in Scitethile 1: Sections and subsections relate to the “Dishursesuient Gnidelinesfor Jnrestnw,,t Project Financing”, date,! Febraa’ 2017. Subsection 3.7 Section 2 Subsections 4.3 and 4.4 6 Sections 5 and 6 Subsection 6.3 subsection 3.5 Subsection 3.1 and 3.2 to Subsection 3.3 and 3.4 3 Attachment I — Form of Authorized Signatory Letter [Letterhead] Ministry of Finance [Street address] [D,i TE] The World Bank 1818 El Street, NW. Washington, D.C. 20433 United States of America Attention: [Country DirectorJ’ I)ear ICountry Directorl: Re: IBRD Loan - (name of Project) I refer to the Loan Agreement between the International Bank for Reconstruction and Development (“Batik”) and [name of borrower] (‘Borrower”), providing the above Loan. For the purposes of Section 2.03 of (lie General Conditions as defined in the Agreement, any 2[one] of the persons whose authenticated specimen signatures appear below is authorized on behalf of the Borrower to sign Withdraw Applications (“Applications”) under this Loan. For the purpose of delivering Applications to the Bank, 3[each] oithe persons whose authenticated specimen signatures appears below is authorized on behalfof the Borrower, acting 1[individually] 5[jointlyj, to deliver Applications, and evidence in support thereof on the terms and conditions specified by the 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 Bank by electronic means. In full recognition that the Bank shall rely upon such representations and warranties, including without limitation, the representations and warranties contained in the Terms and Conditions oJ Use of Secure ic/en/i/walton Crec/en/icils in contwcttot? it’ith Use of Electronic Means to Process :lpplica/ioiis and Supporting Documentation (“Terms and Conditions of Use of SIDC”). the Borrower represents and warrants to the Bank that it will cause such persons to abide by those terms and conditions. This Authorization replaces and supersedes any Authorization currently in the Bank records with respect to this Agreement. Instruction to Bank staff: please forward this letter to Country Lawyer for further processing (Borrower: please do not delete this note). 2 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 this/ho/note inftnal letter that is sent to the Bank Instruction to the Borrower: Stipulate if more than one person needs tojoincly sign Applications, ifso, please indicate the actttal number. Please delete this footnote ill final (ester shot is sent so she Bank. Instruction to the Borrower: Use this bracket ifany one of the authorized persons may sign; ifthis is not applicable, please delete. Please delete tlns/ootnote in/inal letter that is sent to the Bank. 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 this footnote in final letter that is sent to the Bank. 6 [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: [Name]. [position] Specimen Signature: Yours truly, /signed/ [Position] 7 Attachment 2— Statement of Expenditures IBRD - International Bank for Reconstruction and Development Statement of Ependilures- SOE Loan!Crediugrant U Payments made from to j___ Application U Page 6 Payments lisled below were paid during retroactive period (yes or no)? Payments listed below were incurred before Closing Date (yes or no)? Ii Calegory U ONLY for the Desigetaled Account 2 4 5 6 1 a S ID 11 12 13 14 IS 16 Amount Expenditure Prior Review Contract U Contract Contract Accumulated Invoice Date of Amount paid % Eligible Etc han go Date of Withdrawn Suppliers Brief Description Type Contract? in Client Currency Total Amount Contract Number Payment to tupplier Financed Amount Rate Withdrawal From the Name of the expenditure (CS. GO, CW (YES or NO) Connection (originat + Amount byIBRD (ColllXl2) from the Desig. Account OP. TR, NCS) amendments) (Included in Desig. Account (Col 13 X 14) previout SOEs) 0-Do TOTAL 0.00 Supporting documents for this SOE are retained at (insert location,) A separate lorm should be Lised for cacti category