Date: 08-Aug-2024
H.E. Victoria Belous
Minister
Ministry of Finance
7 Constantin Tănase St.
MD-2005, Chişinău
Republic of Moldova
Re: M-GROW Grant No. TF0C4723 Sustainable Transition through Energy Efficiency
in Moldova Project (STEEM)
Additional Instructions: Disbursement and Financial Information Letter
Excellency:
I refer to the Grant Agreement (“Agreement”) between the Republic of Moldova (the “Recipient”)
and the International Bank for Reconstruction and Development and the International Development
Association (the “World Bank”), acting as administrator of the Moldova Growth, Resilience and
Opportunities for Well-Being (M-Grow) Program Multi Donor Trust Fund, for the above-referenced
Project. The Standard Conditions, as defined in the Grant Agreement, provide that the Recipient may from
time-to-time request withdrawals of Grant amounts from the Grant TF0C4723 in accordance with the
Disbursement and Financial Information Letter (“DFIL”), and such additional instructions as the World
Bank may specify from time to time by notice to the Recipient. The Standard 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 and may be
revised from time to time.
I. Disbursement Arrangements, Withdrawal of Grant Funds, and Reporting of Uses of Grant Funds
The World Bank Disbursement Guidelines for Projects dated February 2017, (“Disbursement
Guidelines”) are available in the World Bank'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 Disbursement Guidelines apply
to the Grant is specified below.
(i) Disbursement Arrangements
The table in Schedule 1 provides 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 advances), instructions on supporting documentation, and frequency of
reporting on the Designated Account.
(ii) Withdrawal of Grant Funds (Electronic Delivery) 1
1
Section 10.01 (c) of the General Conditions
The Recipient, through MEPIU, shall deliver Withdrawal Applications (with supporting
documents) electronically through the World Bank’s web-based portal “Client Connection” at
https://clientconnection.worldbank.org. This option shall 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 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 Withdrawal Applications and supporting documents to the World Bank
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 World Bank. By designating officials to use SIDC
and to deliver Withdrawal 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, available in the World Bank's public website at https://worldbank.org and “Client
Connection” at https://clientconnection.worldbank.org; and (b) to cause such official to abide by those
terms and conditions.
II. Financial Reports and Audits 2
(i) Financial Reports
The Recipient, through MEPIU, shall prepare and furnish to the World Bank not later than forty-
five (45) days after the end of each calendar quarter interim unaudited financial reports (“IFRs”) for the
Project covering the quarter.
(ii) Project Audits
Each audit of the Project Financial Statements shall cover the period of one (1) calendar year of the
Recipient, commencing with the calendar year in which the first withdrawal was made. The audited
Financial Statements for each such period shall be furnished to the World Bank by the Recipient, through
MEPIU, 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 World Bank’s public website at http://www.worldbank.org and “Client Connection” at
https://clientconnection.worldbank.org. The World Bank recommends that you register as a user of “Client
Connection”. From this website you will be able to prepare and deliver Withdrawal Applications, monitor
2
Section 5.09 of the General Conditions
the near real-time status of 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 World Bank by email at askloans@worldbank.org using the above
reference.
Yours sincerely,
______________________________
Inguna Dobraja
Country Manager
Moldova
Attachments
1. Form of Authorized Signatory Letter
2. Form of Statement of Expenditure (SOE)
With copies: Project Implementation Unit established within the Ministry of Energy
(MEPIU)
Schedule 1 : Disbursement Provisions
Basic Information
Country Republic of Moldova Closing Date Section III.B.2. of Schedule 2 to
Recipient Ministry of Finance the Grant Agreement.
Grant Loan
TF0C4723 Name of the Project Sustainable Transition through Energy Disbursement Four (4) months after the Closing
No.
Efficiency in Moldova Project (STEEM) Deadline Date Date
Subsection 3.7 **
Disbursement Methods and Supporting Documentation
Disbursement Methods Methods Supporting Documentation
Section 2 (**) Subsections 4.3 and 4.4 (**)
Direct Payment Yes Records (Supplier Invoices/Copy of Receipts)
Reimbursement Yes Statement of Expenditure (SOE) in the format provided in Attachment 2 of the DFIL
Advance (into a Designated Yes SOE in the format provided in Attachment 2 of the DFIL
Account)
Special Commitments Yes Copy of Letter of Credit (including pro forma invoice(s), if cited in the Letter of Credit)
Designated Account (Sections 5 and 6 **)
Segregated – To be managed by the Project Implementation Unit
Type Ceiling Fixed
established within the Ministry of Energy (MEPIU)
Financial Institution - National Bank of Moldova USD
Currency
Name
Frequency of Reporting Monthly Amount 100,000
Subsection 6.3 (**)
Minimum Value of Applications (subsection 3.5)
The minimum value of applications for Direct Payment, Reimbursement and Special Commitment Issuance is USD 20,000 equivalent.
Authorized Signatures (Subsection 3.1 and 3.2 **)
Withdrawal and Documentation Applications (Subsection 3.3 and 3.4 **)
The form for Authorized Signatory Letter is provided in Attachment 1 of this letter.
The ASL and all Withdrawal Applications with their supporting documentation will be submitted electronically via the Bank’s “Client Connection” system.
Additional Information
None.
** Sections and subsections relate to the “Disbursement Guidelines for Investment Project Financing”, dated February 2017.
Attachment 1 – Form of Authorized Signatory Letter
[Letterhead]
Ministry of Finance
[Street address]
[Date]
The World Bank
1818 H Street, N.W.
Washington, D.C. 20433
United States of America
Attention: [Country Director]
Dear [Country Director]:
Re: Grant No. TF0C4723 [Sustainable Transition through Energy Efficiency
in Moldova Project (STEEM)]
I refer to the Grant Agreement (“Agreement”) between the Republic of Moldova (the
“Recipient”) and the International Bank for Reconstruction and Development (the “World
Bank”), acting as administrator of the Moldova Growth, Resilience and Opportunities for Well-
Being (M-Grow) Program Multi-Donor Trust Fund, providing the above Grant. For the purposes
of Section 3.04 (b) of the Standard Conditions, as defined in the Agreement, any [3one] 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 Grant.
For the purpose of delivering Applications to the World Bank 4[each] of the persons whose
authenticated specimen signatures appears below is authorized on behalf of the Recipient, acting
5[individually] 6[jointly], to deliver Applications, and evidence in support thereof on the terms
and conditions specified by the World Bank.
This confirms that the Recipient is authorizing such persons to accept Secure Identification
Credentials (SIDC) and to deliver the Applications and supporting documents to the World Bank
by electronic means. In full recognition that the World Bank shall rely upon such representations
and warranties, including without limitation, the representations and warranties contained in the
3 Instruction to the Recipient when sending this letter to the World Bank: 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 World Bank/Association.
4 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 World Bank/Association.
5 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 World Bank/Association.
6 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 World Bank/Association.
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 World Bank that it will cause such persons
to abide by those terms and conditions.
This Authorization replaces and supersedes any Authorization currently in the World
Bank records with respect to this Agreement.
Signatory Details
Name Position Email ID
[Signatory Name] [Title] [Email]
Specimen Signatures
Signatory Name Signature 1 Signature 2 Signature 3
Yours truly,
/ signed /
______________
[Position]
Attachment 2 – Statement of Expenditures
Statement of Expenditures (SOE)
For
Goods, Works, Non-Consulting, Consulting Services, Training, Operating Costs
Payments made during the period from ________________ to ______________ Grant No.:
Application No.:
Category No.:
SOE No.:
1 2 3 4 5 6 7 8 9 10 11
Supplier’s WB Type of Good or Currency and Total % Financed Amount Currency and Exchange Date of Remarks
Name Contract Service Amount of Invoice by TF Eligible Amount Paid Rate Payment
Number in (GO/CW/CS/Non- Covered by for from
Client CS/OC/TR) Currency and Total Application Financing Designated
Connection Brief Description Amount of Contract (Inclusive of Taxes) (5 x 6) Account
TOTAL
Supporting documents for this SOE retained at (location).