DocuSign Envelope ID: 6B6D93C8-B6A0-47A4-BBC6-80981161651C March 2, 2021 H.E. Romuald Wadagni Minister of Economy and Finance Ministry of Economy and Finance Cotonou, Republic of Benin Re: Republic of Benin IDA Credit 6611-BJ and IDA Grant D610-BJ West Africa Unique Identification for Regional Integration and Inclusion (WURI) Program – Benin Project Additional Instructions: Disbursement and Financial Information Letter First Restatement of the Letter dated June 8, 2020. Excellency: I refer to the Financing Agreement between Republic of Benin (the “Recipient”) and the International Development Association (the “Association”) for the above -referenced Project. The General Conditions, as defined in the Financing Agreement, provide that the Recipient may from time to time request withdrawals of the Credit and Grant amounts from the Credit and Grant Accounts in accordance with the Disbursement and Financial Information Letter, and such additional instructions as the Association may specify from time to time by notice to the Recipient. The General Conditions also provide that the Disbursement and Financial Information Letter may set out Project specific financial reporting requirements. This letter constitutes such Disbursement and Financial Information Letter (“DFIL”) and may be revised from time to time. The purpose of the restatement is to increase the Ceiling of the Designated Account. The Letter dated June 8, 2020 is hereby superseded, replaced in its entirety by this First Restatement. I. Disbursement Arrangements, Withdrawal of Credit and Grant Funds, and Reporting of Uses of Credit and Grant Funds. The Disbursement Guidelines for Investment Project Financing, dated February 2017, (“Disbursement Guidelines”) are available in the Association’s public website at https://www.worldbank.org and its secure website “Client Connection” at https://clientconnection.worldbank.org. The Disbursement Guidelines are an integral part of the DFIL, and the manner in which the provisions in the guidelines apply to the Credit and the Grant is specified below. (i) Disbursement Arrangements  General Provisions (Schedule 1). The table in Schedule 1 sets out the disbursement methods which may be used by the Recipient, information on registration of authorized signatures, processing of withdrawal applications (including minimum value of applications and processing of advances), instructions on supporting documentation, and frequency of reporting on the Designated Account. (ii) Electronic Delivery. Section 11.01 (c) of the General Conditions. The Recipient shall deliver Withdrawal Applications (with supporting documents) electronically through the Association’s web-based portal (https://clientconnection.worldbank.org) “Client Connection”. DocuSign Envelope ID: 6B6D93C8-B6A0-47A4-BBC6-80981161651C This option will be effected after the officials designated in writing by the Recipient who are authorized to sign and deliver Withdrawal Applications have registered as users of “Client Connection”. The designated officials shall deliver Withdrawal Applications electronically by completing the Form 2380, which is accessible through “Client Connection”. By signing the Authorized Signatory Letter, the Recipient confirms that it is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Withdrawal Applications and supporting documents to the Association by electronic means. The Recipient may exercise the option of preparing and delivering Withdrawal Applications in paper form on exceptional cases (including those where the Recipient encounters legal limitations), and which were previously agreed with the Association. By designating officials to use SIDC, 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 Withdrawal Applications and Supporting Documentation, available in the Association's public website at https://worldbank.org and “Client Connection”; and (b) to cause such official to abide by those terms and conditions. II. Financial Reports and Audits. (i) Financial Reports. The Recipient must prepare and furnish to the Association not later than forty-five (45) days after the end of each calendar semester, interim unaudited financial reports (“IFR”) for the Project covering the semester. (ii) Audits. Each audit of the Financial Statements must cover the period of one fiscal year of the Recipient, commencing with the fiscal year in which the first withdrawal was made. The audited Financial Statements for each such period must be furnished to the Association not later than six (6) months after the end of such period. III. Other Information. For additional information on disbursement arrangements, please refer to the Loan Handbook available on the Association’s website (http://www.worldbank.org/) and “Client Connection”. The Association recommends that you register as a user of “Client Connection”. From this website you will be able to prepare and deliver Withdrawal Applications, monitor the near real-time status of the Credit and the Grant, and retrieve related policy, financial, and procurement information. For more information about the website and registration arrangements, or if you have any queries in relation to the above, please contact the Association by email at askloans@worldbank.org using the above reference. Yours sincerely, ______________________________ 02-Mar-2021 Felix Lawson Finance Officer Client Services, Trust Funds and Loan Operations Attachments 1. Statement of Expenditure (SOE) DocuSign Envelope ID: 6B6D93C8-B6A0-47A4-BBC6-80981161651C Schedule 1 : Disbursement Provisions Basic Information Country The Republic of Benin Closing Date Section III.B.2. of Schedule 2 of the Credit Financing Agreement. Recipient The Republic of Benin Credit and 6611-BJ Name of the Project West Africa Unique Identification for Disbursement Four (04) months after the closing Grant Regional Integration and Inclusion - Deadline Date date. Numbers Grant Phase 2 Subsection 3.7 ** D610-BJ Disbursement Methods and Supporting Documentation Disbursement Methods Methods Supporting Documentation Section 2 (**) Subsections 4.3 and 4.4 (**) Direct Payment Yes Copy of records Reimbursement Yes Statement of Expenditure (SOE) in the format provided in Attachment 1 of this DFIL for all Eligible Expenditures Designated Account Yes Statement of Expenditure (SOE) in the format provided in Attachment 1 of this DFIL for all Eligible Expenditures Special Commitments Yes Copy of Letter of Credit Designated Account (Sections 5 and 6 **) Type Segregated Ceiling Fixed Financial Institution – BCEAO, with an operational account at commercial bank Currency XOF Name acceptable by the Association Frequency of Reporting Monthly Amount XOF 600,000,000 Subsection 6.3 (**) Minimum Value of Applications (subsection 3.5) The minimum value of applications for Reimbursement, Direct Payment and Special Commitment Issuance is equivalent to 20 percent of the outstanding Designated Account balance. Authorized Signatures (Subsection 3.1 and 3.2 **) The form for Authorized Signatories Letter is provided in Attachment 1 of this letter Withdrawal and Documentation Applications (Subsection 3.3 and 3.4 **) Authorized Signatures (subsection 3.1). Applications for this Financing will be signed by the official(s) authorized to sign Applications as indicated in your letter N°2428-c/2019/MEF/DC/SGM/CAA dated September 10, 2019. (ii) Applications (subsections 3.2 - 3.3). All Withdrawal Applications and their supporting documentation shall be electronically submitted via the Association’s web-based Portal “Client Connection”. Additional Instructions No withdrawal shall be made under the IDA Credit until the financing proceeds of the IDA Grant have been fully disbursed ** Sections and subsections relate to the “Disbursement Guidelines for Investment Project Financing”, dated February 2017. DocuSign Envelope ID: 6B6D93C8-B6A0-47A4-BBC6-80981161651C Attachment 1 – Statement of Expenditures Statement of Expenditures Financier Payment made during the period from to Loan/Credit/Grant # Application # The following expenditures have been incurred during the retroactive financing period (please tick) Yes No Category # The following expenditures have been incurred before the closing date of the loan/credit/grant (please tick) Yes No Page # ONLY for the Designated Account 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Item Supplier’s Brief Prior Contract # Contract Invoice Date of Total % Eligible Exchange Date of Amount No Name Description Review Currency Number Payment Amount of Financed Amount Rate Withdrawal Withdrawn of the (Contract?) (Client and Invoice from the from the from the Expenditure Connection Amount Covered by Bank (Col 9 x Designated Designated (YES or # for Prior Application 10) Account Account NO) Review (Original + Contracts) Amendment) (Net of (Col 11/12) Retention) TOTAL Supporting documents for this SOE are retained at (insert location) A separate form should be used for each category.