OFFICIAL
DOCUMENTS
THE WORLD BANK
aO.enA I wOMDBMNKMOUP
Ethiopia Country Office
Afica Avenue, Bole Road                                                        Tel: (251-11) 5176000
Addis Ababa, Ethiopia                                                           Fax: (251-11) 6627717
November 14, 2018
Ref: WB/CD/351/1 1/14/2018
H.E. Ato Ahmed Shide
Minister
Ministry of Finance
Ms. Lelise Neme
Chief Executive Officer
Industrial Park Development Corporation
Bishan Gari Building, Comoros Street
Addis Ababa
Dear Ato Ahmed and Ms. Neme,
Subject: Ethiopia Additional Financing for Competitiveness and Job Creation Project
(Credit Number 6263-El)
Reinstatement of Financing Agreement and ProjectAgreement and
Retroactive Extension of Effectiveness Deadline
We refer to: (a) the Financing Agreement between Federal Democratic Republic of Ethiopia
(Recipient) and the International Development Association (Association) with the Signature date of
June 29, 2018 (Financing Agreement), and (b) the Project Agreement between the Association and
the Industrial Park Development Corporation (Project Implementing Entity) with the same Signature
date (Project Agreement), both for the above-referenced Project and Credit No. 6263-ET. We refer
also to your letter dated October 2, 2018 requesting the Association to extend the Effectiveness
Deadline to January 31, 2019.
As you are aware, in accordance with Sections 10.01 and 10.02 of the applicable General
Conditions, the Association has to be satisfied that the following effectiveness conditions are fulfilled
before the Financing Agreement and Project Agreement may become effective:
(a) execution of the Subsidiary Agreement between the Recipient and the Project Implementing
Entity on terms and conditions approved by the Association;
(b) legal opinion(s) satisfactory to the Association confirming that the Financing Agreement and
the Subsidiary Agreement are legally binding on the Recipient in accordance with the terms of
said agreements; and
(c) legal opinion(s) satisfactory to the Association confirming that the Project Agreement and
Subsidiary Agreement are binding on the Project Implementing Entity in accordance with the
terms of said agreements.


H.E. Ato Ahmed Shide
Ms. Lelise Neme                             4                  November 14, 2018
Further, Section 5.01 of the Financing Agreement provides that the Effectiveness Deadline is
ninety (90) days after the Signature Date of June 29, 2018. Unfortunately, due to delays in bringing
the Financing Agreement and Project Agreement into effect, the stated Effectiveness Deadline has
lapsed and the Financing Agreement and Project Agreement have terminated as provided in Section
10.04 of the applicable General Conditions.
It is therefore necessary to reinstate the Financing Agreement and Project Agreement before
an extension of the Effectiveness Deadline may be considered. Please confirm, on behalf of the
Recipient, agreement to reinstate the Financing Agreement and the Project Agreement by
countersigning and dating two original copies of this letter and returning one countersigned and dated
original to the Association. Upon receipt by the Association of the countersigned and dated original
copy: (a) the reinstatement of the Financing Agreement and Project Agreement shall become
effective as of the date of the latest countersignature; and (b) the Association establishes January 31,
2019 as the later date/Effectiveness Deadline for purposes of Section 10.04 of the General
Conditions.
Sincerely,
Carolyn Turk
Country Director for Ethiopia, Sudan and Sobth Sudan
Africa Region
AGREED:
FEDERAL DEMOCRATI REPUBCF ETHIOPIA
By:
Name:
Title:
Date: Mp     e-., c;,is.7iI
AGREED:
INDUSTRIAL PARK      ELOPMENT
By:                 ~,~
Name:         eOtcer
Title:
Date:  NiVe,)n-c- Is Lo JJA


H.E. Ato Ahmed Shide
Ms. Lelise Neme                              4                  November 14, 2018
cc: H.E Ato Admasu Nebebe
State Minister
Ministry of Finance
Ato Fisseha Aberra
Director, Financial Institutions Cooperation Directorate
Ministry of Finance
Ato Tessema Gedda
Project Coordinator
CJC-Project Implementation Unit
Addis Ababa