TAEHYUN LEE
Country Manager for Mongolia
The World Bank
                                                                                       26-Nov-2024
                                                                                    ___________________




H.E. B. Javkhlan
Minister of Finance
Ministry of Finance
Government Building II
S. Danzan Street 5/1 Building D
Ulaanbaatar, 15160


Excellency:

                     Re: Mongolia: Emergency Relief and Employment Support Project
                                        (Credit Number 6697-MN)
                         Reallocation of Credit Proceeds and Extension of Closing Date


             We refer to the Financing Agreement dated September 7, 2020, between Mongolia and the
    International Development Association (the “Association) for the Mongolia Emergency Relief and
    Employment Support Project (the “Project”). We also refer to your letter dated September 25, 2024,
    requesting the Association to extend the current Closing Date by ten (10) months (i.e. from December
    31, 2024, to October 31, 2025) and to reallocate the remaining funds of the above captioned credit to
    address critical sectoral needs, the specific details of the reallocation having been discussed and agreed
    upon with the Recipient’s Project Implementation Unit.

            We are pleased to inform you that the Association concurs with your request. Therefore, the
    Association: (a) has established October 31, 2025, as the later date for purposes of paragraph 2 of
    Section III.B of Schedule 2 to the Financing Agreement; and (b) reallocates the proceeds of the above-
    captioned credit among the Categories of the withdrawal table in Section III.A of Schedule 2 to the
    Financing Agreement, as set forth in the revised withdrawal table in the Annex to this letter.


                                                Yours sincerely,



                                               Taehyun Lee
                                       Country Manager for Mongolia
                                       ANNEX
                               Credit Number 6697-MN
                               Revised Withdrawal Table

                Category                         Amount of the       Percentage of
                                              Financing Allocated   Expenditures to
                                              (expressed in SDR)     be Financed
                                                                      (inclusive of
                                                                         Taxes)
(1) Goods, works, non-consulting                    4,377,000            100 %
services, consulting services, Training and
Operating Costs under Parts 1, 2.2 and 3
of the Project

(2) Non-consulting services, consulting             2,973,000       100 % of the
services, Training, Micro-loans under Part                          amount disbursed
2.1 of the Project                                                  for Micro-loans
                                                                    and 100% for
                                                                    other Eligible
                                                                    Expenditures

(3) SIF Contributions under Part 4 of the           7,350,000       100% of the
Project                                                             amount disbursed

TOTAL AMOUNT                                      14,700,000