The World Bank                                                  1, Dniprovskiy Uzviz           (380-44) 490-66-71
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT           Kyiv 01010                     (380-44) 490-66-72
INTERNATIONAL DEVELOPMENT ASSOCIATION                           Ukraine                        (380-44) 490-66-73
REGIONAL OFFICE
UKRAINE, BELARUS AND MOLDOVA
                                                                                       CONFORMED COPY
                                                                                            June 29, 2011

            Minister Veaceslav Negruta
            Ministry of Finance
            Chisinau, Moldova


            Your Excellency:

                       European Community Co-financing Trust Fund Grant No.094952
                        Moldova Regional Development and Social Protection Project

            Extension of Closing Date
                   We refer to the European Community Co-financing Trust Fund Grant
            Agreement (the “Grant Agreement�) between Moldova and the International
            Development Association (the “Association�), acting as administrator of grant funds
            provided by European Community, represented by the Commission of the European
            Communities (the “Commission�), signed August 6, 2009 and countersigned August
            7, 2009, as amended, for the above-referenced Project.

                   Pursuant to the letter from Mr. Prime-Minister Vladimir Filat May 30, 2011
            requesting extension of the Closing Date, we are pleased to concur with your request
            and establish September 30, 2011 as the later date for purposes of Section 3.03 of the
            Annex of the Grant Agreement.

                   We would also like to mention that, on an exceptional basis, the Association
            has agreed to extend the current closing date without amending the Administration
            Agreement between the Commission and the Association. Consequently, the grace
            period provided in the Disbursement Letter of this Grant Agreement shall be
            shortened from 4 months to 1 month. Accordingly, the new grace period ends October
            31, 2011.

                    This is to advise you that, in accordance with the current practice of the
            Association, further disbursements from the Grant will be made for withdrawal
            applications received at the World Bank office in Zagreb by close of business on
            October 31, 2011, in respect of eligible expenditures made before the Closing Date
            (i.e. payments made or payments due for goods, works and services that have been
            provided prior to the Closing Date).

                    Please confirm your agreement with the foregoing, on behalf of Moldova, by
            signing, dating and returning to us the enclosed copy of this letter. The amendment
            will become effective upon receipt of a countersigned copy of this letter.

                                                        Sincerely,


                                                  /s/ Martin Raiser
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                                         Director
                                Ukraine, Belarus, Moldova
                             Europe and Central Asia Region



AGREED:
REPUBLIC OF MOLDOVA

By: /s/ Veaceslav Negruta

Name: Veaceslav Negruta

Title: Minister of Finance

Date:                                          July           29,   2011
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