June 3, 2024

Ms. Manisha Sinha
Additional Secretary (OMI, Crypto & FB)
Department of Economic Affairs
Ministry of Finance
Government of India
North Block
New Delhi - 110 001

Dear Ms. Sinha:

          INDIA: Jharkhand Power System Improvement Project (IBRD Loan No. 8908–IN)
               Closing Date Extension and Partial Cancellation of Loan Proceeds

         We refer to the Loan Agreement, dated November 20, 2018, between India (“Borrower”) and the
International Bank for Reconstruction and Development (“Bank”) (“Loan Agreement”), and the Project
Agreement (“Project Agreement”) of the same date, between the Bank on the one side, and the State of
Jharkhand (“Project Implementing Entity”), Jharkhand Bijli Vitran Nigam Limited (“JBVNL”), and
Jharkhand Urja Sancharan Nigam Limited (“JUSNL”) (JBVNL and JUSNL collectively referred to
hereinafter as the “Implementing Agencies”) on the other side for the Jharkhand Power System
Improvement Project (“Project”).

         We also refer to the letter F. No. 06/02/2016-FB-VIII dated May 31, 2024, from the Borrower’s
Department of Economic Affairs (DEA), Ministry of Finance requesting the Bank to: (i) partially cancel an
amount of twenty-eight million nine hundred fifty thousand United States Dollars (US$28,950,000) from
the total Loan proceeds; and (ii) extend the Closing Date of the Project.

         After careful consideration of the Borrower's afore-mentioned request, the Bank agrees with your
request. Therefore:

        (a) Pursuant to Section 7.01 of the General Conditions, the Bank hereby cancels as of
            May 31, 2024, an amount of twenty-eighteen million nine hundred fifty thousand United States
            Dollars (US$28,950,000) from the total Loan proceeds. Accordingly, the table in
            Section III. A of Schedule 2 to the Loan Agreement is revised to read as set forth in the Annex
            hereto. The commitment charges on the total amount canceled cease to accrue from
            May 31, 2024.

        (b) The Bank has established December 31, 2024, as the later date for purposes of
            Section III. B. 2 of Schedule 2 to the Loan Agreement.

                                 Yours sincerely,
            INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT



                                            Junko Onishi
                                    Acting Country Director, India

Enclosures:
Annexure - Revised Withdrawal Table

                   India Country Office, 70 Lodi Estate, New Delhi 110 003, India
                      P.O. Box 416, Phone: +911141479301 / +911149247601
Ms. Manisha Sinha                              -2-                           June 3, 2024



                                                                                            Annex
                            Jharkhand Power System Improvement Project
                                     (IBRD Loan No. 8908–IN)
                                     Revised Withdrawal Table


 Category                               Amount of the Loan       Percentage of Expenditures
                                             Allocated                  to be financed
                                        (expressed in USD)           (inclusive of Taxes)
 (1) Goods, works, non-consulting
 services, consulting services,
 training and Workshops, and                201,065,000
 Incremental Operating Costs                                              Up to 85%
 for Components 1 and 2 of the
 Project
 (2) Goods, works, non-consulting
 services, consulting services
 Training and Workshops, and                49,210,000                    Up to 70%
 Incremental Operating Costs
 for Component 3 of the Project
                                                               Amount payable pursuant to
                                                               Section 2.03 of this agreement in
 (3) Front-end Fee                            775,000
                                                               accordance with section 2.07 (b)
                                                               of the General Conditions
 (4) Interest Rate Cap or Interest
                                                               Amount due pursuant to section
 Amount due pursuant to Rate                    0
                                                               4.05 (c) of the General Conditions
 Collar premium
                                            30,000,000
 (5) Cancelled as of March 3, 2021
 (6) Cancelled as of May 31, 2024           28,950,000

 Total amount
                                            310,000,000
Ms. Manisha Sinha                             -3-                        June 3, 2024

cc:
Mr. Parameswaran Iyer, Executive Director, World Bank
Mr. Rajeev Topno, Senior Advisor to Executive Director, World Bank

Government of India

Mr. Rajesh Kumar, Deputy Secretary, DEA, Ministry of Finance
Ms. Juhi Mukherjee, Controller of Aid Accounts & Audit, DEA, Ministry of Finance

Mr. Pankaj Agarwal, Secretary, Ministry of Power
Mr. Ajay Tiwari, Additional Secretary (IC), Ministry of Power

Government of Jharkhand

Mr. Avinash Kumar, Development Commissioner and Additional Chief Secretary, Energy
Mr. Prashant Kumar, Secretary, Finance
Mr. Avinash Kumar, Managing Director, Jharkhand Bijli Vitran Nigam Limited
Mr. K. K. Verma, Managing Director, Jharkhand Urja Sancharan Nigam Limited
Ms. Manisha Sinha                           -4-                         June 3, 2024



c/w:           Simon J. Stolp, Practice Manager, ISAE1
Bcc: India CMU General; Simon Stolp, Kavita Saraswat, Amol Gupta, Victor Ordonez,
Jharkhand Power System Improvement project team
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