OFFICIAL
DOCUMENTS
Supplemental Letter No. 3
JOINT STOCK COMPANY "THE STATE EXPORT-IMPORT BANK OF UKRAINE"
June 26, 2017
International Bank for Reconstruction
and Development
1818 H Street, N.W.
Washington, D.C. 20433
United States of America
Re:    Loan No. 8727-UA
(Access to Long Term Finance Project)
Representations
Dear Sirs and Mesdames:
In connection with the Loan Agreement of even date herewith between the International Bank for
Reconstruction and Development (the Bank) and the Joint Stock Company "The State Export-Import Bank
of Ukraine" (Borrower) for the above-captioned Project, the Borrower hereby undertakes and warrants to
the Bank that:
1.     The audited financial statements for the year ending 31 December, 2015, copies of which have been
furnished to the Bank, correctly set forth the financial and operating condition of the Borrower as of that
date, and since that date there have been no material adverse changes in the financial and operating
conditions of the Borrower.
2.     The Borrower is not engaged in litigation as plaintiff or defendant, the outcome of which might
materially and adversely affect its financial condition.
3.     The Borrower has no outstanding agreements or liabilities, contingent or otherwise (including
taxes), that might materially and adversely affect its financial condition.
4.     No debt of the Borrower is secured by any mortgage, pledge, charge, priority, or other lien, and no
contract or arrangement exists for the creation of any such mortgage, pledge, charge, priority, or other lien.
5.     There are no existing defaults in the payment of principal of, or interest or other charges on, any of
the debts of the Borrower.
6.     The Borrower is not in violation of, and execution and delivery of the Loan Agreement and the
compliance with all its terms do not and will not result in any violation of, any provisions of any existing
agreement, franchise, concession, license, or permit, or of any statute, law, decree-law, executive decree,
regulation, or any other legal rule of a similar nature presently in effect and applicable to the Borrower.


7.     The Borrower is a duly existing joint-stock company under the laws of Ukraine, with full authority
to carry out its present business, to carry out the Project (as described in Schedule I to the Loan Agreement),
and to execute and deliver the Loan Agreement, and has furnished to the Bank true copies of its founding
documents presently in effect and governing the Borrower.
It is our mutual understanding that the preceding representations are material factors in the Bank's
decision to make the Loans. Should any adverse material change occur in the financial position of the
Borrower prior to our receipt of the notice of the Bank's acceptance of the evidence required by Section
9.01 of the General Conditions, we shall promptly inform the Bank.
Very truly yours,
JOINT STOCK COMPANY "THE STATE EXPOR                    T BANK OF UKRAINE"
By
Aut   dReprsnai