Amendment No. 2 to the Administration Arrangement between the Italian Republic as represented by
 its Ministry of Ecological Transition (Directorate General for Sustainable Growth and Quality of
Development) and the International Bank for Reconstruction and Development and the International
Development Association regarding the Promoting Green and Climate Resilient Development Single-
                            Donor Trust Fund (Trust Fund No. 072971)

1.       Reference is made to the Administration Arrangement between the Ministry of Ecological
Transition (Directorate General for Sustainable Growth and Quality of Development) (the “Donor”) and
the International Bank for Reconstruction and Development and the International Development Association
(collectively, the “Bank” and together with the Donor, the “Participants” and each a “Participant”)
regarding the Promoting Green and Climate Resilient Development Single-Donor Trust Fund (Trust Fund
No. 072971) (the “Trust Fund”) effective as of December 1, 2017, as amended (the “Administration
Arrangement”).

2.     The Participants mutually decide to amend the Administration Arrangement as follows:

       (a)     All references in the Administration Arrangement to the “Ministry of Environment, Land
       and Sea” are hereby replaced by “Ministry of Ecological Transition (Directorate General for
       Sustainable Growth and Quality of Development)”.

       (b)     Paragraph 5.1 of Annex 2 is deleted in its entirety and replaced with the following:

       “5.1. It is expected that the funds deposited in the Trust Fund will be fully disbursed by the Bank
       by June 30, 2022 (the “End Disbursement Date”). The Bank shall only disburse funds deposited in
       the Trust Fund for the purposes of this Administration Agreement (other than returns to Donors)
       after such date to the extent such date is changed in accordance with amendments made to the
       Administration Agreements of all the Donors. Following the End Disbursement Date, the Bank
       shall return any remaining balance of the Trust Fund to each Donor in the Holding Currency in the
       manner specified in its respective Administration Agreement on a pro rata basis with regard to the
       total funds deposited in the Trust Fund by such Donor relative to the total funds deposited in the
       Trust Fund by all Donors, all calculated as Holding Currency amounts.

3.     All other terms of the Administration Arrangement will remain the same.

                              [remainder of page intentionally left blank]
4.       Each of the Participants represents, by confirming its acceptance below, that it is authorized to enter
into this Amendment and act in accordance with its provisions. The Participants are requested to sign and
date this Amendment, and upon possession by the Bank of this fully signed Amendment, this Amendment
will come into effect as of the date of the last signature.

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
INTERNATIONAL DEVELOPMENT ASSOCIATION


By:      _______________________________/s1/
           Hoveida Nobakht
Name: _______________________________/n1/
              Strategy and Operations Manager (Acting SD Vice President)
Title:   _______________________________/t1/
              22-Dec-2021
Date:    _______________________________/d1/


ITALIAN REPUBLIC AS REPRESENTED BY ITS MINISTRY OF ECOLOGICAL
TRANSITION (DIRECTORATE GENERAL FOR SUSTAINABLE GROWTH AND QUALITY
OF DEVELOPMENT)


By:      _______________________________/s2/
              Oliviero Montanaro
Name: _______________________________/n2/
               Dr.
Title:   _______________________________/t2/
              23-dic-2021
Date:    _______________________________/d2/




                                                                                                              2