The World Bank 1818 H Street N.W. (202) 473-1000 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELO 'MENT Washington, D.C. 20433 Cable Address: INT3AFR \ INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVA5 ~-,2( 1:5 H.E. Naglaa EI-Ehwany Minister of International Cooperaticn Ministry of International Cooperatic n Cairo, Arab Republic of Egypt Re: IBRD Loan 8498-EG (Egypt Inclusive Housing Finance Program) Additional 4rrangements: Disbursement Letter Excellency: I refer to the Loan Agreement between the International Bank for Reconstruction 'rd Development (the "Bank") and An.b republic of Egypt (the "Borrower") providing the abo :- referenced loan (the "Loan"), of evein date herewith (the "Loan Agreement"). The Loan Agreem I1 provides that the Bank may issue ad litional instructions regarding the withdrawal of the proce,( s of the Loan. This letter ("Disburse nent Letter"), as revised from time to time, constitutes additional arrangements. The capitalized terms used ir this Disbursement Letter have the meanings ascribed to th.: i in this Disbursement Letter or in the Loan Agreement (as the case may be). I. Disbursement Arrangemer ts (i) Withdrawal Applications. Applications for withdrawal from the Loan Acco I it ("Withdrawal Applications" of amounts of the Loan allocated to individual Disbursem.: 11 Linked Results ("DLR") ma-/, pursuant to the provisions of Section IV.A of Schedule (f the Loan Agreement, be se it to the Bank at any time after the Bank has notified 1e Borrower in writing that it h is accepted evidence of achievement of the specific DLR. (ii) WithdrawalAmount. The Withdrawal Application may be for an amount not to exc the amount of the Loan con irmed by the Bank for the specific DLR in respect of wh (1- the withdrawal is requested, as specified in the Bank's notice to the Borrower. (iii) Prior Results. The Bank ccnfirms that it has received evidence satisfactory to it that .1 c DLRs referred to in Categori-s (1), (2), (3), (4), (5), (6), (7) and (8) of the Table in the L, : Agreement have been achieN ed. Consequently, the Borrower may withdraw the amoun of USD 25,000,000 after the Loan Agreement has been declared effective. (iv) Advances and Recovery ofAdvances. The Borrower may, in accordance with provisi ',n of the Loan Agreement, request advances of amounts of the Loan allocated to DLRs 1 ul have not yet been achieved using the Form attached (Attachment 1). The aggregate amo u1 -2- of all such advances made in respect of amounts allocated to DLRs may not exceed Ic equivalent of USD 125,000, )00. The Bank records an amount of the advance as disbursed for an achieved D -R ("recovered") after it has r otified the Borrower of its acceptance of the evidence I' achievement of the DLR for which the advance was provided. The amount so reclassil it becomes available for further advances in accordance with the preceding paragraph. (v) Disbursement Deadline Da,e. The period of disbursement of the Loan ends six mor Ih after the Closing Date ("Disbursement Deadline Date"). This is the final date establis 1( by the Bank for receipt by :he Bank of Withdrawal Applications. Normally, to supr c ii orderly closure of the Loan Account, the Bank does not accept Withdrawal Applicati 'in received after the Disbursen- ent Deadline Date. The Borrower should promptly inform .1 e Bank of any expected implcmentation delays or exceptional administrative issues bef e these dates. The Bank will notify the Borrower of any exception that the Bank may m I l to the Disbursement Deadlire Date. (vi) Deposits ofLoan Amounts. All withdrawals from the Loan Account shall be depositec I > the Bank into a bank accou it in the name of Social Housing Fund (SHF) in the Cen r Bank of Egypt. (vii) Withdrawal Conditions. 'lease refer to the Withdrawal Condition(s) in the L, r Agreement. II. Withdrawal Applications (i) Authorized Signatories for Withdrawal Applications. An authorized signatory lette r the Form attached (Attachm.nt 2) should be furnished to the Bank at the address indice it c below providing the name(s' and specimen signature(s) of the official(s) authorized to sIr Withdrawal Applications: The World B ink 1818 H Stree:, NW Washington, DC 20433 Attention: Poonam Gupta - Acting Country Director, Egypt (ii) Withdrawal Applications. F lease provide completed and signed Withdrawal Applicatic rs to the address indicated below: The World B ink CTRLA-Reg onal Center Zagreb Radnicka Ce!,ta 80/IX, 10000 Zagreb, Croatia Attention: Scrgo Lomtatidze - Team lead -3- (iii) Electronic Delivery. The B,.nk may permit the Borrower to electronically deliver to .1 L Bank Withdrawal Applications through the Bank's Client Connection, web-based por ., The option to deliver Withdrawal Applications to the Bank by electronic means may I L effected if: (a) the Borrower has designated in writing, pursuant to the terms If subparagraph (i) of this Section, its officials who are authorized to sign and deli 'I Withdrawal Applications and to receive secure identification credentials ("SIDC") fr 1r the Bank for the purpose of ( elivering such Withdrawal Applications by electronic mez a and (b) all such officials designated by the Borrower have registered as users of Cli 1 Connection. If the Bank agiees, the Bank will provide the Borrower with SIDC for .1 e designated officials. Following which, the designated officials may deliver Withdra v .1 Applications electronically ty completing Form 2380, which is accessible through Cli. 1 Connection (https://clientccnnection.worldbank.org). The Borrower may continue c exercise the option of preparing and delivering Withdrawal Applications in paper fo r1. The Bank reserves the right and may, in its sole discretion, temporarily or permanety disallow the electronic deliv:-ry of Withdrawal Applications by the Borrower. (iv) Terms and Conditions of Use of SIDC to Process Withdrawal Applications. E designating officials to use 5 IDC and by choosing to deliver the Withdrawal Applicati :i electronically, the Borrower zonfirms through the authorized signatory letter its agreem. 1 to: (a) abide by the Terms a ud Conditions of Use of Secure Identification Credential: connection with Use of E lectronic Means to Process Applications and Suppore: , Documentation ("Terms an I Conditions of Use of Secure Identification Credentia ; provided in Attachment 3; and (b) to cause such official to abide by those terms rd conditions. III. Other Important Information For additional information on disbursement arrangements and electronic delivery )f Withdrawal Applications, pleast visit our secure website "Client Connection" 71 https://clientconnection.worldbank.org. If you have not already don: so, the Bank recommends that you register as a user of .1c Client Connection website (https:// lientconnection.worldbank.org). From this website you i be able to prepare and deliver Withdrawal Applications, monitor the near real-time status of .1 Loan, and retrieve related policy. financial, and other information. All Borrower offic aIs authorized to sign and deliver Withd -awal Applications by electronic means are required to regi: ti with Client Connection before electi onic delivery can be effected. For more information about .1c website and registration arraligements, please contact the Bank by email -1 . -4- If you have any queries in r. lation to the above, please contact Maiada Kassem, Fina 1(e Officer at wfaldmna@worldbank.or i or a member of the Loan operations team responsible for .1 L Arab Republic of Egypt portfolio using the above reference. Yours sincerely, Poonam dupta Acti ig Country Director for Egypt MNA Region Attachments I. Sample Form for Advances 2. Form for Authorized Signatures 3. Terms and Conditions of Use of Secure Identification Credentials in connection with Use at Electronic Means to Process Ap Plications and Supporting Documentation, dated March 1. 2013 -5- Attach merit I S-imple Form for Advances [Ministry Implementing Agency Letterhead] [Dt' Loan Department - [name of Regioi ial Center] The World Bank [address of regional center] Attention: [name of regional center team lead] Subject: Re: IBRD Loan 8498-EG (Inclusive Housing Finance Program) -Request for Advance Dear Sir/Madam, We refer to the Loan Agreer ient between the International Bank for Reconstruction an .1 Development (the "Bank") and [name of borrower] (the "Borrower") dated [Date of Signingl providing for the above Loan. In accordance with the provisions of the Disbursement Letter and Schedule 2, Section V, B.3 of the Loan Agreement, to supp:rt the implementation of the above Program and to facilit o1 the achievement of the planned results, we request an Advance in the amount of [insert amour 1 [We request that the Advance be disbursed in [currency requestedfor disbursement] equivalent to the Total Advance Requested above.]2 We acknowledge that the amount disburs, will be charged to the Loan Accoun: in the currency of the Financing at the rate of exchange it effect at the time of disbursement. Sincerely, [Name, Position]3 The Proposed Advance should be in the c Irrency of the DLI/DLR as set out in the disbursement table in the leg iI agreement, and in accordance with provisic ns in the Disbursement Letter. Normally, this is the currency of commitment of the loan. 2 Use this text to designate the currency of he Advance if it should be different from the currency set out in the disbursement table in the legal agreement. 3 To be signed by a representative of the in plementing/coordinating agency of the borrower, OR by the person(s authorized on behalf of the borrower to sig i applications for withdrawal under the loan as set out in the applicabl Authorized Signatory Letter. -6- Attachmer t .2 Form of Authorized Signatory Letter [Letterhead] Ministry of Finance [Street address] [DATE] The World Bank 1818 H Street, N.W. Washington, D.C. 20433 United States of America Attention: [Country Director] Re: IBRD Loan 8498-EG (Inclusive Housing Finance Program) I refer to the Loan Agreement betwei.-n the International Bank for Reconstruction and Developm --l (the "Bank") and [name of borrow-r] (the "Borrower"), dated , providing .I above Loan. For the purposes of Section 2.02 of the General Conditions as defined in .1 C Agreement, any '[one] of the persons whose authenticated specimen signatures appear below authorized on behalf of the Borrow r to sign applications for withdrawal under this Loan. For the purpose of delivering Applications to the Bank, 2[each] of the persons whose authenticz c specimen signatures appears below s authorized on behalf of the Borrower, acting 3[individua I 4[jointly], to deliver Applications, and evidence in support thereof on the terms and conditi n specified by the Bank. 5[This confirms that the Borrower is authorizing such persons to accept Secure Identifical ( r Credentials (SIDC) and to deliver the Applications and supporting documents to the Bank I , electronic means. In full recogniti)n that the Bank shall rely upon such representations .r c warranties, including without limita ion, the representations and warranties contained in the Te, r I Instruction to the Borrower: Stipulate if i iore than one person needs to sign Applications, and how many or wl i h positions, and if any thresholds apply. Plec se delete this footnote in final letter that is sent to the Bank 2 Instruction to the Borrower: Stipulate if iore than one person needs to jointly sign Applications, if so, please indicate the actual number. Please delete t) -is footnote in final letter that is sent to the Bank. Instruction to the Borrower: Use this bra,ket if any one of the authorized persons may sign; if this is not applicable, please delete. Please delete thi ,footnote in final letter that is sent to the Bank 4 Instruction to the Borrower: Use this bra,:ket only if several individuals must jointly sign each Application; if t ii is not applicable, please delete. Please del?te this footnote in final letter that is sent to the Bank. Instruction to the Borrower: Add this pa -agraph if the Borrower wishes to authorize the listed persons to accer; Secure Identification Credentials and to de iver Applications by electronic means; ifthis is not applicable, please delete the paragraph. Please delete thisfoctnote in final letter that is sent to the Bank. -7- and Conditions of Use of Secure Identification Credentials in connection with Use of Electro Means to Process Applications andS upporting Documentation ("Terms and Conditions of Us( of SIDC"), the Borrower represents and warrants to the Bank that it will cause such persons to ab ce by those terms and conditions.] This Authorization replaces and sup-rsedes any Authorization currently in the Bank records wA i respect to this Agreement. [Name], [position] Specimei Signature: [Name], [position] Specimei Signature: [Name], [position] Specimei Signature: Yours truly, / signed / [Position] -8- Attachmer t .3 Terms and Conditions of Use of Secure Identification Credentials in connec :ion with Use of Electronic Means to Process Applications and Supporting Documentation March 1, 2013 The World Bank (Bank)' will provide secure identification credentials (SIDC) to permit .I Borrower2 to deliver applications for withdrawal and applications for special commitments un.1:i the Agreement(s) and supporting do:umentation (such applications and supporting documentat ( r together referred to in these Terms and Conditions of Use as Applications) to the B; r electronically, on the terms and con litions of use specified herein. SIDC can be either: (a) hardware-ba 3ed (Physical Token), or (b) software-based (Soft Token). I C Bank reserves the right to determin( which type of SIDC is most appropriate. A. Identification of Users. I. The Borrower will be requ red to identify in a completed Authorized Signatory Le t,l (ASL) duly delivered to and received by the Bank each person who will be authorize( 1: deliver Applications. The Bank will provide SIDC to each person identified in the A SL (Signatory), as provided below. The Borrower shall also immediately notify the Bank ft Signatory is no longer autho ized by the Borrower to act as a Signatory. 2. Each Signatory must regist,r as a user on the Bank's Client Connection (CC) web i.i (https://clientconnection.wo ldbank.org) prior to receipt of his/her SIDC. Registration ( r CC will require that the Sigr atory establish a CC password (CC Password). The Signat i shall not reveal his/her CC Password to anyone or store or record the CC Passwor( r written or other form. Upor registration as a CC user, the Signatory will be assigne.1 Z unique identifying account r ame. B. Initialization of SIDC. 1. Prior to initialization of SID,? by a Signatory, the Signatory will acknowledge having r; a:1 understood and agreed to be bound by these Terms and Conditions of Use. "Bank" includes IBRD and IDA. 2 "Borrower" includes the borrower of an 1 3RD loan, IDA credit, or Project Preparation Facility advance and the recipient of a grant. -9- 2. Where a Physical Token is 10 be used, promptly upon receipt of the Physical Token, [e Signatory will access CC usi ig his/her account name and CC Password and register his/ -I,r Physical Token and set a personal identification number (PIN) to be used in connect on with the use of his/her Physical Token, after which the Physical Token will be initiali; Cd for use by the Signatory exclusively for purposes of delivering Applications. Where a S t Token is to be used, the Signatory will access CC using his/her account name and Password and set a personal identification number (PIN) to be used in connection with Fe use of his/her Soft Token, after which the Soft Token will be initialized for use by Fie Signatory exclusively for pUrposes of delivering Applications. Upon initialization of Ili SIDC, the Signatory will be i "SIDC User". The Bank will maintain in its database a u .;r account (Account) for each SIDC User for purposes of managing the SIDC of the SI)X User. Neither the Borrower ior the SIDC User will have any access to the Account. 3. Prior to first use of the SIDC by the SIDC User, the Borrower shall ensure that the S11.)C User has received training materials provided by the Bank in use of the SIDC. C. Use of SIDC. 1 . Use of the SIDC is strictly li nited to use in the delivery of Applications by the SIDC U .r in the manner prescribed by Ihe Bank in the Agreement(s) and these Terms and Conditic n s. Any other use of the SIDC i! prohibited. 2. The Bank assumes no respot sibility or liability whatsoever for any misuse of the SIDC ELy the SIDC User, other representatives of the Borrower, or third parties. 3. The Borrower undertakes lo ensure, and represents and warrants to the Bank (si (1h representation and warranty being expressly relied upon by the Bank in granting SII (' that each SIDC User unders:ands and will abide by, these Terms and Conditions of Li si. including without limitation the following: 4. Security 4.1. The SIDC User shall iot reveal his/her PIN to anyone or store or record the PlT ir written or other form. 4.2. The SIDC User shall not allow anyone else to utilize his/her SIDC to deliver i r Application to the Bank. 4.3. The SIDC User shall always logout from CC when not using the system. FailurI logout properly can create a route into the system that is unprotected. 4.4. If the SIDC User believes a third party has learned his/her PIN or has lost his/ is Physical Token he/she shall immediately notify clientconnectiongworldbank.org. - 10- 4.5. The Borrower shall immediately notify the Bank it clientconnection@worldban .org of any lost, stolen or compromised SIDC, and take ot 1.:r reasonable steps to ensure sL ch SIDC are disabled immediately. 5. Reservation of Right to Disvble SIDC 5.1. The Borrower shall reserve the right to revoke the authorization of a SIDC 'Use] o0 use a SIDC for any reason. 5.2. The Bank reserves th: right, in its sole discretion, to temporarily or permaner Y disable a SIDC, de-activate , SIDC User's Account or both. 6. Care of Physical Tokens 6.1. Physical Tokens will iemain the property of the Bank. 6.2. The Bank will physic; illy deliver a Physical Token to each Signatory designate c receive one in a manner to b- determined by and satisfactory to the Bank. 6.3. Physical Tokens contiin delicate and sophisticated instrumentation and theref ! should be handled with du: care, and should not be immersed in liquids, exposec extreme temperatures, crusl-ed or bent. Also, Physical Tokens should be kept more t' r five (5) cm from devices thit generate electromagnetic radiation (EMR), such as mol'i phones, phone-enabled PDAs, smart phones and other similar devices. Physical Tok:ii should be carried and storec separate from any EMR device. At close range (less tha 1 - cm), these devices can out)ut high levels of EMR that can interfere with the pro :I operation of electronic equilment, including the Physical Token. 6.4. Without derogating -rom these Terms and Conditions of Use, other techn c- instructions on the propt r use and care of Physical Tokens are available T http://www.rsa.com. 7. Replacement 7.1. Lost, damaged, comp:omised (in terms of 4.5, above) or destroyed Physical Tok!, will be replaced at the exper se of the Borrower. 7.2. The Bank reserves the right, in its sole discretion, not to replace any Physical To a iI in the case of misuse, or not to reactivate a SIDC User's Account.