CTF LOAN NUMBER TF0C3913




       Clean Technology Fund
       Guarantee Agreement
(Accelerating the Market Transition for Distributed Energy Program)


                             between


                    REPUBLIC OF TÜRKİYE


                               and


      INTERNATIONAL BANK FOR RECONSTRUCTION
                 AND DEVELOPMENT


  acting as an implementing entity of the Clean Technology Fund




                          16-May-2024
                 Dated __________________________
                                                      CTF LOAN NUMBER TF0C3913

                              Clean Technology Fund
                            GUARANTEE AGREEMENT
                                   16-May-2024
        AGREEMENT, dated _____________________, entered into between
REPUBLIC OF TÜRKİYE (“Guarantor”) and INTERNATIONAL BANK FOR
RECONSTRUCTION AND DEVELOPMENT (“World Bank”), acting not in its
individual capacity but solely in its capacity as an implementing entity of the Clean
Technology Fund (“CTF”) (“CTF Guarantee Agreement”) in connection with the CTF
Loan Agreement of same date between the World Bank and Türkiye Kalkınma ve Yatırım
Bankası A.Ş., also known as Development and Investment Bank of Türkiye (“Borrower”)
(“CTF Loan Agreement”). The Guarantor and the World Bank hereby agree as follows:

            ARTICLE I – STANDARD CONDITIONS; DEFINITIONS

      Section 1.01. The Standard Conditions (as defined in the Appendix to the CTF
Loan Agreement) constitute an integral part of this Agreement.

         Section 1.02. Unless the context requires otherwise, the capitalized terms used
in this Agreement have the meanings ascribed to them in the Standard Conditions or in the
CTF Loan Agreement.

                            ARTICLE II – GUARANTEE

        Section 2.01. Without limitation or restriction upon any of its other obligations
under the Guarantee Agreement, the Guarantor hereby unconditionally guarantees, as
primary obligor and not as surety merely, the due and punctual payment of all Loan
Payments payable by the Borrower pursuant to the CTF Loan Agreement.

                ARTICLE III –REPRESENTATIVE; ADDRESSES

       Section 3.01.    The Guarantor’s Representative is its Minister of Treasury and
Finance.

        Section 3.02.   The Guarantor’s Address is:

                                T.C. Hazine ve Maliye Bakanligi
                                Inönü Bulvari No. 36
                                Emek-Ankara
                                Republic of Türkiye; and

                                Facsimile:
                                (90) (312) 204-7366
                                (90) (312) 204-7367.
                                  -2-



Section 3.03.   The World Bank’s Address is:

                        International Bank for Reconstruction and Development
                        1818 H Street, N.W.
                        Washington, D.C. 20433
                        United States of America

                        Cable:          Telex:           Facsimile:
                        INTBAFRAD       248423 (MCI) or (202) 477-6391
                        Washington, D.C. 64145 (MCI)



AGREED at Ankara, Republic of Türkiye, as of the day and year first above written.



                REPUBLIC OF TÜRKİYE

                By
                             ______________________________________/gs1/
                                    Authorized Representative
                                        Mr. Murat Erinç Bayrakcı
                             Name: _______________________________
                                     Acting Deputy Director General
                             Title: _____ __________________________


                INTERNATIONAL BANK FOR
                RECONSTRUCTION AND DEVELOPMENT
                acting as an implementing entity
                of the Clean Technology Fund

                By
                             __________________________________________/gs2/
                                        Authorized Representative

                                        J. Humberto Lopez
                              Name: _______________________________
                                      Country Director
                              Title: _______________________________