OFFICIAL DCMENTS THE WORLD BANPCU iBRD* IDA I WORLDBANKGROUP October 13, 2017 Mr. Abdallah BOUREIMA President of the WAEMU Commission West African Economic and Monetary Union 01 B.P. 543 Ouagadougou 01 Ouagadougou, Burkina Faso Re: IDA Grant No. D236-3W (WAEMU Affordable Housing Finance Project) Additional Instructions: Disbursement Dear Mr. Boureima, I refer to the Financing Agreement ("Agreement") between West African Economic and Monetary Union (the "Recipient") and the International Development Association ("Association"), for the above-referenced project of even date herewith. The Agreement provides that the Association may issue additional instructions regarding the withdrawal of the proceeds of Financing D236-3W ("Financing"). This letter ("Disbursement Letter"), as revised from time to time, constitutes the additional instructions. The attached World Bank Disbursement Guidelines for Investment Project Financing, dated February 1, 2017, ("Disbursement Guidelines") (Attachment 1), are an integral part of the Disbursement and Financial Reporting Letter. The manner in which the provisions in the Disbursement Guidelines apply to the Financing is specified below. Sections and subsections in parentheses below refer to the relevant sections and subsections in the Disbursement Guidelines and, unless otherwise defined in this letter, the capitalized terms used have the meanings ascribed to them in the Disbursement Guidelines. I. Disbursement Arrangements (i) Disbursement Methods (section 2). The following Disbursement Methods may be used under the Financing: * Reimbursement * Direct Payment * Advance * Special Commitment (ii) Disbursement Deadline Date (subsection 3.7). The Disbursement Deadline Date is four (4) months after the Closing Date specified in the Financing Agreement. Any change to this date will be notified by the Association. (iii) Disbursement Conditions (subsection 3.8). Please refer to the Withdrawal Conditions in the Financing Agreement. -2- II. Withdrawal of Financing Proceeds (i) Authorized Signatures (subsection 3.1). A letter in the Form attached (Attachment 2) must be furnished to the Association at the address indicated below providing the name(s) and specimen signature(s) of the official(s) authorized to sign Applications: The World Bank Resident Mission Ouagadougou, Burkina Faso Attention: Rachid BENMESSAOUD Country Director for Nigeria and Coordinating Director for West Africa Regional Integration Program (ii) Applications (subsections 3.2 - 3.3). Please provide (a) completed and signed applications for withdrawal, together with supporting documents, and (b) applications for special commitments, together with a copy of the commercial bank letter of credit to the address indicated below: The World Bank, Loan Operations and Trust Funds Department, Delta Center, 13th Floor,Menengai Road, Upper Hill Nairobi, Kenya Contact Telephone number: +254 20 2936 000 (iii) Electronic Delivery (subsection 3.4). The Association may permit the Recipient to electronically deliver to the Association Applications (with supporting documents) through the Association's Client Connection, web-based portal. The option to deliver Applications to the Association by electronic means may be effected if: (a) the Recipient has designated in writing, pursuant to the terms of subparagraph (i) of this Section, its officials who are authorized to sign and deliver Applications and to receive secure identification credentials ("SIDC") from the Association for the purpose of delivering such Applications by electronic means; and (b) all such officials designated by the Recipient have registered as users of Client Connection. If the Association agrees, the Association will provide the Recipient with SIDC for the designated officials. Following which, the designated officials may deliver Applications electronically by completing Form 2380, which is accessible through Client Connection (https://clientconnection.worldbank.or. The Recipient may continue to exercise the option of preparing and delivering Applications in paper form. The Association reserves the right and may, in its sole discretion, temporarily or permanently disallow the electronic delivery of Applications by the Recipient. (iv) Terms and Conditions of Use of SIDC to Process Applications. By designating officials to use SIDC and by choosing to deliver the Applications electronically, the Recipient confirms through the authorized signatory letter its agreement to: (a) abide by the Terms and Conditions of Use of Secure Identification Credentials in connection with Use of Electronic Means to Process Applications and Supporting Documentation ("Terms and Conditions of Use of Secure Identification Credentials") provided in Attachment 2; and (b) to cause such official to abide by those terms and conditions. -3- (v) Minimum Value of Applications (subsection 3.5). The Minimum Value of Applications is twenty per cent of the Designated Account ceiling. (vi) Advances (sections 5 and 6). Type ofDesignated Account (subsection 5.3): Segregated " DA. A will be managed by WAEMU and will finance eligible expenditures under Category 1 of Section IV.A.2 of Schedule 2 of the Grant Agreement " DA.B will be managed by CRRH and will finance eligible expenditures under Category 2 of Section IV.A.2 of Schedule 2 of the Grant Agreement * Currency of Designated Account (subsection 5.4): (XOF) * Financial Institution at which the Designated Accounts will be opened (subsection 5.5): DA.A: BCEAO DA.B: Ecobank Togo * Ceiling (subsection 6.1): 0 DA.A: Forecast for two (2) quarters of eligible expenditures as provided in the semi-annual Interim Financial Report. o DA.B: Forecast for two (2) quarters of eligible expenditures as provided in the semi-annual Interim Financial Report. III. Reports on the use of the withdrawn proceeds (i) Supporting Documentation (section 4). Supporting documentation should be provided with each application for withdrawal as set out below: * For requests for Reimbursement and for reporting expenditures paid from the Designated Account: 0 Interim Financial Report in the form attached (Attachment 4) for all expenditures * For requests for Direct Payment: records evidencing eligible expenditures, e.g., copies of receipts, supplier invoices (ii) Frequency of Reporting Eligible Expenditures Paid from the Designated Account (subsection 6.3): every six months -4- (iii) Other Supporting Documentation Instructions In the case of first request for withdrawal submitted to the World Bank, before any withdrawal has been made, i.e. request for initial advance to the Designated Accounts, the Recipient shall submit to World Bank, only a statement with projected sources and application of funds for the project for the next six-months period following the date of request. IV. Other Information For additional information on disbursement arrangements, please refer to the Disbursement Handbook available on the World Bank's public website at https://www.worldbank.org and its secure website "Client Connection" at https://clientconnection.worldbank.org. Print copies are available upon request. From the Client Connection website, you will be able to prepare and deliver Applications, monitor the near real-time status of the Financing, and retrieve related policy, financial, and procurement information. If you have not done so, the Bank recommends that you register as a user of the Client Connection website at https://clientconnection.worldbank.org. From this website you will be able to prepare and deliver Applications, monitor the near real-time status of the Financing and retrieve related policy, financial, and procurement information. For more information about the website and registration arrangements, please contact the World Bank by email at https://clientconnection.worldbank.or. If you have any queries in relation to the above, please contact Faly Diallo, Finance Officer at WFALA-AFRAworldbank.or2 using the above reference. Very truly yours, INTERNATIONAL DEVELOPMENT ASSOCIATION Rachid Benmnessaoud Country Director for Nigeria and Coordinating Director for the West Africa Regional Integration Program Attachments I. World Bank Disbursement Guidelines for Investment Project Financing, dated February 1, 2017 2. Form for Authorized Signatures 3. Terms and Conditions of Use ofSecure Identification Devices in connection with Use of Electronic Means to Process Applications and Supporting Documentation, dated March 1, 2013 4. Form ofInterim Financial Report -5- Attachment 2 Form of Authorized Signatory Letter The World Bank 1818 H Street, N.W. Washington, D.C. 20433 United States of America Attention: [Country Director] Re: IDA Grant No D236-3W (WAEMU Affordable Housing Finance Project) I refer to the Financing Agreement ("Agreement") between the International Development Association (the "Association") and the West African Economic and Monetary Union (the "Recipient"), dated , providing the above Financings. For the purposes of Section 2.03 of the General Conditions as defined in the Agreement, any [one] of the persons whose authenticated specimen signatures appear below is authorized on behalf of the Recipient to sign applications for withdrawal [and applications for a special commitment] under this Financing. For the purpose of delivering Applications to the Association, 2[each] of the persons whose authenticated specimen signatures appears below is authorized on behalf of the Recipient, acting 3[individually] 4jointly], to deliver Applications, and evidence in support thereof on the terms and conditions specified by the Association. sThis confirms that the Recipient is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the Association by electronic means. In full recognition that the Association shall rely upon such representations and warranties, including without limitation, the 1 Instruction to the Recipient: Stipulate if more than one person needs to sign Applications, and how many or which positions, and if any thresholds apply. Please delete this footnote in final letter that is sent to the Association. 2 Instruction to the Recipient: Stipulate if more than one person needs to jointly sign Applications, if so, please indicate the actual number. Please delete this footnote in final letter that is sent to the Association. I Instruction to the Recipient: Use this bracket if any one of the authorized persons may sign; if this is not applicable, please delete. Please delete this footnote in final letter that is sent to the Association. 4 Instruction to the Recipient: Use this bracket only if several individuals must jointly sign each Application; if this is not applicable, please delete. Please delete this footnote in final letter that is sent to the Association. s Instruction to the Recipient: Add this paragraph if the Recipient wishes to authorize the listed persons to accept Secure Identification Credentials and to deliver Applications by electronic means; if this is not applicable, please delete the paragraph. Please delete this footnote in final letter that is sent to the Association. -6- representations and warranties contained in the Terms and Conditions of Use of Secure Identification Credentials in connection with Use of Electronic Means to Process Applications and Supporting Documentation ("Terms and Conditions of Use of SIDC"), the Recipient represents and warrants to the Association that it will cause such persons to abide by those terms and conditions. This Authorization replaces and supersedes any Authorization currently in the Association records with respect to this Agreement. [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: Yours truly, / signed / [Position] -7- Attachment 3 Terms and Conditions of Use of Secure Identification Credentials in connection 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 the Recipient' to deliver applications for withdrawal and applications for special commitments under the Agreement(s) and supporting documentation (such applications and supporting documentation together referred to in these Terms and Conditions of Use as Applications) to the Bank electronically, on the terms and conditions of use specified herein. SIDC can be either: (a) hardware-based (Physical Token), or (b) software-based (Soft Token). The Bank reserves the right to determine which type of SIDC is most appropriate. A. Identification of Users 1. The Recipient will be required to identify in a completed Authorized Signatory Letter (ASL) duly delivered to and received by the Bank each person who will be authorized to deliver Applications. The Bank will provide SIDC to each person identified in the ASL (Signatory), as provided below. The Recipient shall also immediately notify the Bank if a Signatory is no longer authorized by the Recipient to act as a Signatory. 2. Each Signatory must register as a user on the Bank's Client Connection (CC) website (https://clientconnection.worldbank.org) prior to receipt of his/her SIDC. Registration on CC will require that the Signatory establish a CC password (CC Password). The Signatory shall not reveal his/her CC Password to anyone or store or record the CC Password in written or other form. Upon registration as a CC user, the Signatory will be assigned a unique identifying account name. B. Initialization of SIDC 1. Prior to initialization of SIDC by a Signatory, the Signatory will acknowledge having read, understood and agreed to be bound by these Terms and Conditions of Use. 2. Where a Physical Token is to be used, promptly upon receipt of the Physical Token, the Signatory will access CC using his/her account name and CC Password and register his/her Physical Token and set a personal identification number (PIN) to be used in connection with the use of his/her Physical Token, after which the Physical Token will be initialized for use by the Signatory exclusively for purposes of delivering Applications. Where a Soft Token is to be used, the Signatory will access CC using his/her account name and CC Password and set a personal identification number (PIN) to be used in connection with the 6 "'Bank" includes IBRD and IDA. ' "Recipient" includes the recipient of an IBRD loan, IDA credit, or Project Preparation Facility advance and the recipient of a grant. -8- use of his/her Soft Token, after which the Soft Token will be initialized for use by the Signatory exclusively for purposes of delivering Applications. Upon initialization of the SIDC, the Signatory will be a "SIDC User". The Bank will maintain in its database a user account (Account) for each SIDC User for purposes of managing the SIDC of the SIDC User. Neither the Recipient nor the SIDC User will have any access to the Account. 3. Prior to first use of the SIDC by the SIDC User, the Recipient shall ensure that the SIDC 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 limited to use in the delivery of Applications by the SIDC User in the manner prescribed by the Bank in the Agreement(s) and these Terms and Conditions. Any other use of the SIDC is prohibited. 2. The Bank assumes no responsibility or liability whatsoever for any misuse of the SIDC by the SIDC User, other representatives of the Recipient, or third parties. 3. The Recipient undertakes to ensure, and represents and warrants to the Bank (such representation and warranty being expressly relied upon by the Bank in granting SIDC) that each SIDC User understands and will abide by, these Terms and Conditions of Use, including without limitation the following: 4. Security 4.1. The SIDC User shall not reveal his/her PIN to anyone or store or record the PIN in written or other form. 4.2. The SIDC User shall not allow anyone else to utilize his/her SIDC to deliver an Application to the Bank. 4.3. The SIDC User shall always logout from CC when not using the system. Failure to 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/her Physical Token he/she shall immediately notify clientconnectiona@)worldbank.org. 4.5. The Recipient shall immediately notify the Bank at clientconnection@worldbank.orz of any lost, stolen or compromised SIDC, and take other reasonable steps to ensure such SIDC are disabled immediately. 5. Reservation of Right to Disable SIDC 5.1. The Recipient shall reserve the right to revoke the authorization of a SIDC User to use a SIDC for any reason. 5.2. The Bank reserves the right, in its sole discretion, to temporarily or permanently disable a SIDC, de-activate a SIDC User's Account or both. -9- 6. Care of Physical Tokens 6.1. Physical Tokens will remain the property of the Bank. 6.2. The Bank will physically deliver a Physical Token to each Signatory designated to receive one in a manner to be determined by and satisfactory to the Bank. 6.3. Physical Tokens contain delicate and sophisticated instrumentation and therefore should be handled with due care, and should not be immersed in liquids, exposed to extreme temperatures, crushed or bent. Also, Physical Tokens should be kept more than five (5) cm from devices that generate electromagnetic radiation (EMR), such as mobile phones, phone-enabled PDAs, smart phones and other similar devices. Physical Tokens should be carried and stored separate from any EMR device. At close range (less than 5 cm), these devices can output high levels of EMR that can interfere with the proper operation of electronic equipment, including the Physical Token. 6.4. Without derogating from these Terms and Conditions of Use, other technical instructions on the proper use and care of Physical Tokens are available at http://www.rsa.com. 7. Replacement 7.1. Lost, damaged, compromised (in terms of 4.5, above) or destroyed Physical Tokens will be replaced at the expense of the Recipient. 7.2. The Bank reserves the right, in its sole discretion, not to replace any Physical Token in the case of misuse, or not to reactivate a SIDC User's Account. - 10 - Attachment 4 Form of Interim Financial Report Commission de 'UEMOA Projet de financement du logement abordable de l'UEMOA Pour le semestre finissant le ...... (FCFA) Cumulatif Prévisions des Origines des Fonds Pour le semestre finissant le ...... 6 mois à venir Réalisé Prévu Ecarts Réalisé Prévu Ecarts Solde d'ouverture Fonds IDA FCFA Autres Total des fonds reçus Plus : sources des fonds 7r Autres Solde disponible Moins : Emplois des fonds, par composante de projet Composante 3: Assistance technique offre de logement Total des dépenses Solde de clôture Fonds IDA FCFA Autres Total des soldes de clôture - 11 - Utilisation des fonds par composantes Commission de UEMOA Projet de financement du logement abordable de I'UEMOA Utilisation des Fonds par composantes Pour le semestre finissant le ...... (In FCFA) Composantes et activités du projet Pour le semestre finissant le ...... Cumulatif Explication de PAD Me du PAD revise l'écart Proiet Réalise Prévu Ecarts Réalisé Prévu Ecarts Composante 3: Assistance technique offre de logement Classification des dépenses 1 Classification des dèpenses 2 Classification des dépenses 3 Classification des dépenses 4 Classification des dépenses 5 Dépenses totales du Projet -12- RELEVE DES ACTIVITES DU COMPTE DESIGNE Commission de rUEMOA Projet de financement du logement abordable de l'UEMOA Relevé des activités du compte Désigné (CD) Pour le semestre finissant le ...... Nom du projet: Projet de financement du logement abordable de rUEMOA Pret IBRDIDA No Numéro de Banque dépositaire: _compte: Monnaie du compte désigné: FCFA Iére Partie 1 Avances cumulées à la fin de la période en cours 2. Dépenses cumulées à la fin de la demière période couverte par le rapport 3- Encours des avances à comptabiliser (ligne 1 moins ligne 2) 2ème Partie 4. Solde d'ouverture du CD au début de la période couverte (à la date du) 5. Additionner/soustraire : ajustements cumulés (le cas échéant) 6. Avances provenant de la Banque mondiale au cours de la période considérée 7. Faire la somme des lignes 5 et 6 5. Encours des avances à comptabiliser (faire la somme des lignes 4 et 7) 9. Solde de clôture du CS à la fin de la période en cours (à la date du 10. Additionner/soustraire: ajustements cumulés (le cas échéant) 11. Dépenses au titre de la période en cours 12. Faire la somme des lignes 10 et 11 13. Faire la somme des lignes 9 et 12 14. Différence (le cas échéant) (ligne 8 moins ligne 13) 3ème Partie 15. Montant total estimé devant être payé par la Banque mondiale 16. Moins: Solde de clôture du CD après ajustements 17. Paiements directs/paiements au titre du CD 18. Faire la somme des lignes 16 et 17 19. Besoins de trésorene soumis à la Banque mondiale pour les deux prochaines périodes (ligne 15 moins ligne 18) - 13 - Commission de UEMOA Projet de financement du logement abordable de V'UEMOA Dépenses du compte Désigné afférentes aux contrats soumis a l'examen préalable Pour le semestre finissant le ...... Cat/Sous-cat. Nom et adresse Monnaie et valeur % financé Eligible au Date & numéro de la facture, Décaissement du contractant du contrat Montants facturés par financement de la Montant total payé report à nouveau solde du réf Contrat/Date Sign. par monnae BIRDIIDA Banque dans la au titre du CD contrat (col 1) (col 21 (col 3) (col 4) (col 5) (col 61 (col 7b icol 81 Travaux publics TOTAL _____________________ Biens' - ~ ~~~~~ ~~OTAL______ _______ __ Servtces de Consultants TOTAL -TOTAL GENERAL - 14 - Commission de M'UEMOA Projet de financement du logement abordable de 'UEMOA Dépenses du compte spécial non soumises a un examen préalable Pour le semestre finissant le ...... CatiSous-cat. Sources Pays du % financé Eligible au financement Part de NIDA Décaissement d'Approvisionne fournisseur Dépenses par de la Banque dans la montant total payé Part de l'Etat TTC ment étranger totales BIRD/IDA monnaie du contrat au titre du CS /autre (col 1) (col 2) (col 3) (col 4) (col 5) (Col 6) = (Col 4)(Col 5) (col 7) (col 8) Travaux publics Locale Etrangère - Total Pays Pays Pas - TOTAL Biens Locale Etrangère - Total Pays Pays Pays M TOTAL____________ ___________ __ Services de TOTAL Consultants Locale Etrangère - Total Pays Pays Pays - ~~ TOTAL ___ Dépenses de fonctionnement Locale Etrangère - Total Pays 1 Pays Pays TOTAL GINERAL