Jhe V'!Prld Bank                                                    1818 H Street N.W.       (202) 473-1000
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT               Washington, D.C. 20433   Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION                               U.S.A.                   Cable Address: INDEVAS



                                              OFFICIAL
                                             DOCUMENTS                                       October 26, 201 7

            Mr. S. A Storchak
            Deputy Minister of Finance
            Ministy of Finance
            Ilyinka Street 9
            Moscow, 109097
            Russian Federation


             Amendment to the Trust Fund Administration Agreement between the Ministry of Finance of
             the Russian Federation and the International Bank for Reconstruction and Development and
            the International Development Association concerning the Multi-Donor Trust Fund for Public
             Expenditure Management and Peer-assisted Learning (PEM-PAL) in the Europe and Central
                                              Asia Region (TF070664)
                                       Extension of End Disbursement Date

            Excellency:

            1.       We refer to the Administration Agreement (the Agreement), dated February 17, 2010, as
            amended to-date, between the Ministry of Finance of the Russian Federation (the "Donor") and the
            International Bank for Reconstruction and Development (IBRD) and the International
            Development Association (IDA), (collectively, the "Bank") regarding the Multi-Donor Trust Fund
            for Public Expenditure Management and Peer-assisted Leaming (PEM-PAL) in the Europe and
            Central Asia Region (TF070664) (the "Trust Fund").

            2.     We also refer to the understanding reached between the Bank and the Donor to extend the
            end disbursement date of the Trust Fund from December 31, 2017 to December 31, 2018.
            Accordingly, the Bank proposes to amend Section 7.01 of Annex 2 to the Agreement as follows:

                    "7 .1. It is expected that the Contribution funds shall be fully disbursed by the Bank in
                    accordance with the provisions of this Agreement by December 31, 2018. The Bank shall
                    only disburse Contribution funds for the purposes of this Agreement after such date with
                    the written approval of the Donor."



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                                            RCA 248423. W WUI 64145 G:l FAX (202) 477-6391
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3.        All other terms of the Agreement shall remain valid and in full force and effect.

4.     The Bank will disclose this amendment (Amendment) to the Agreement and related
information on this Trust Fund in accordance with the World Bank Policy on Access to
Information. By entering into this Amendment, .the Donor consents to disclosure of this
Amendment to the Agreement and related information on this Trust Fund.

5.      We propose that this letter shall constitute an Amendment to the Administration Agreement
between the Bank and the Donor. Please confirm your acceptance to the foregoing, on behalf of the
Donor, by signing and dating the two originals, retaining one original for your records and returning
the other original to the Bank. Upon receipt by the Bank of the original Amendment countersigned
by you, this Amendment will become effective as of the date of the countersignature.

                                              Sincerely,

         INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
                 INTERNATIONAL DEVELOPMENT ASSOCIATION




                                            Cyril Muller
                                           Vice President
                                   Europe and Central Asia Reg~on



CONFIRMED AND AGREED:

MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION



By:                                                     Date:   a,f. 11. ~,/1{
Name:

Title: