CONFORMED COPY

March 3, 2011
                                               Very truly yours,
            INTERNATIONAL BAN FOR RECONSTRUCTION AND DEVELOPMENT/
            INTERNATIONAL DEVELOPMENT ASSOCIATION
                      INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELPMENT/
                              INTERNATIONAL DEVELOPMENT ASSOICATION

                                             By/s/ Ferid Belhaj
                                          ____________________
                                                Ferid Belhaj
                                             Country Director
                               Papua New Guinea, Pacific Islands and Timor Leste



AGREED
INDEPENDENT STATE OF PAPUA NEW GUINEA

By/s/ Peter O'Neill
__________________
Title: Minister
Date: 3 March, 2011