OFFICIAL
DOCUMENTS
The World Bank                                    1818 H Street N.W.        (202) 473-1000
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT  Washington, D.C. 20433  Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION             U.S.A.                    Cable Address: INDEVAS
September 4, 2018
Mr. Ibrahim Halil Oztop
Chairman and General Manager
Tirkiye Kalkinma Bankasi A.$.
Necatibey Caddesi No. 98
Ankara
Dear Mr. Oztop:
Re:      CTF Grant No. TF0A1532
(Geothermal Development Project)
Amendment to the CTF Grant Agreement
We refer to the Clean Technology Fund Grant Agreement (the Agreement), dated November 30,
2016, between TORKIYE KALKINMA BANKASI A.$. ("TKB" or the "Recipient") and the
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (World Bank), acting as
an Implementing Agency of the Clean Technology Fund, for the above mentioned Geothermal
Development Project (the Project).
We also refer to the letter dated July 3, 2018, from the Recipient's Deputy Manager, requesting the
World   Bank   to: (i)  add   "Operating  Costs"  as  an  additional  expenditure  category;
and (ii) reallocate Grant proceeds among selected disbursement categories.
We are pleased to inform you that the World Bank agrees to your request and proposes to replace
Section IV.A of Schedule 2 to the Agreement with a new section provided in the Attachment to this
Amendment Letter (Amendment Letter).
Except as specifically amended herein, all the other terms and conditions of the Agreement shall
remain in full force and effect.


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Please confirm your agreement to the foregoing amendments to the Agreement on behalf
of the Recipient, by signing and dating the confirmation on the enclosed copy of this Amendment
Letter and returning it to us. Upon receipt by the World Bank of a countersigned original
Amendment Letter, this Amendment Letter will become effective as of April 1, 2018.
Sincerely,
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
Johannes C.M. Zutt
Country Director
Turkey Country Unit
Europe and Central Asia Region
AGREED:
TURKiYE KAL                KASI A.$.
By:
By:rahim H F)W1
Chairman and
Name:            CEO
Title:
Date:


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Attachment
"Section IV.  Withdrawal of Grant Proceeds
A.     General
I.     The Recipient may withdraw the proceeds of the Grant in accordance with the provisions of: (a)
Article III of the Standard Conditions; (b) this Section; and (c) such additional instructions as the
World Bank may specify by notice to the Recipient (including the "World Bank Disbursement
Guidelines for Projects" dated May 2006, as revised from time to time by the World Bank and as
made applicable to this Agreement pursuant to such instructions), to finance Eligible Expenditures
as set forth in the table in paragraph 2 below.
2.     The following table specifies the categories of Eligible Expenditures that may be financed out of
the proceeds of the Grant ("Category"), the allocations of the amounts of the Grant to each
Category, and the percentage of expenditures to be financed for Eligible Expenditures in each
Category:
Amount of the Grant   Percentage of Expenditures to be
Category                    Allocated                   Financed
(expressed in USD)          (inclusive of Taxes)
(1) Payments out of the Risk Sharing      38,000,000                 100%
Mechanism under Part A of the
Project
(2) Consultants' services under            1,670,000                 100%
Part A of the Project
(3) Operating Costs and Training             130,000                 100%
under Part A of the Project
TOTAL AMOUNT
For the purpose of this paragraph, the terms:
"Operating Costs" means necessary and reasonable incremental expenses directly incurred by the PIU in
Project implementation, management and monitoring, including office supplies, office rental, publication of
procurement notices, vehicle rental, office and equipment maintenance and repair, communication, travel and
supervision costs, subscription to publications and databases, publication fees, ownership of intellectual
property rights, and other miscellaneous expenses, all within a budget and work plan satisfactory to the World
Bank; and
"Training" means reasonable expenditures (excluding costs of consultants' services) incurred for Project-
related study tours, training courses, seminars, workshops and other training activities, including costs
associated with securing the services of trainers, preparation and reproduction of training materials, space and
equipment rental, travel, accommodation and per diem costs of trainees and trainers, and other training related
miscellaneous costs.