Document of
        The World Bank


                                 Report No: 58510




     RESTRUCTURING PAPER

             ON A

PROPOSED PROJECT RESTRUCTURING
                OF
    URBAN HEATING PROJECT
             CREDIT
           July 20, 2005


            TO THE

     REPUBLIC OF ARMENIA


        December 14, 2010
         ABBREVIATIONS AND ACRONYMS




 Regional Vice President:    Philippe Le Houerou
        Country Director:    Asad Alam
Sector Manager / Director:   Ranjit Lamech
       Task Team Leader:     Ani Balabanyan
                                        ARMENIA
                                  URBAN HEATING PROJECT
                                         P057880
                                       CONTENTS

                                                                                                    Page
EXTENSION OF CLOSING DATE ............................................................................... 1
                         Extension of Closing Date
                      ARMENIA -- URBAN HEATING PROJECT
                                   P057880
                             CREDIT NO 4102-AM

                                  Restructuring Paper



1.    The closing date for Armenia, Urban Heating PROJECT, Credit No 4102-AM,
P057880 will be extended from December 31, 2010 until June 1, 2011.

2.      The implementation of all of the project components is essentially completed. The
project has successfully met all the outcome targets. There are savings under the "school
heating" component of the project.

3.     The proposed extension is necessary to utilize the savings under the "school
heating" component and rehabilitate the heating systems of two additional schools.

4.    This will be the second extension of the project closing date, which will result in a
cumulative extension of eleven months from the project's original closing date.