J. HUMBERTO LOPEZ Country Director, Türkiye Country Unit Europe and Central Asia Region 17-Dec-2024 ____________________ Mr. Kerem Dönmez Director General General Directorate of Foreign Economic Relations Ministry of Treasury and FinanceT.C. Hazine ve Maliye Bakanligi Inönü Bulvari No. 36 Emek-Ankara, Republic of Türkiye Re: IBRD Loan No. 8753-TR Eastern Türkiye Middle Corridor Railway Development Project Additional Instructions: Disbursement and Financial Information Letter Dear Mr. Dönmez, I refer to the Loan Agreement between Republic of Türkiye (the “Borrower”) and the International Bank for Reconstruction and Development (the “Bank”) for financing the above-referenced Project. The General Conditions, as defined in the Loan Agreement, provide that the Borrower may from time-to-time request withdrawals of Loan Amounts from the Loan Account in accordance with the Disbursement and Financial Information Letter (“DFIL”), and such additional instructions as the Bank may specify from time to time by notice to the Borrower. The General Conditions also provide that the Disbursement and Financial Information Letter may set out Project specific financial management and reporting requirements. This letter constitutes such Disbursement and Financial Information Letter and may be revised from time to time. I. Disbursement Arrangements, Withdrawal of Loan Funds, and Reporting of Uses of Loan Funds (i) Disbursement Arrangements The Disbursement Guidelines for Investment Project Financing, dated February 2017 (“Disbursement Guidelines”), are available on the Bank’s secure website “Client Connection” at https://clientconnection.worldbank.org and its public website at https://www.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 Loan is specified below. The table in Schedule 1 sets out the disbursement methods which may be used by the Borrower, information on registration of authorized signatories, processing of Withdrawal Applications (including the minimum value of applications and processing of advances), instructions on supporting documentation, and frequency of reporting on the Designated Account(s). Türkiye Country Office  Ugur Mumcu Caddesi 88  2nd Floor, 06700, Gaziosmanpasa  ANKARA – TÜRKİYE Tel: (90-312) 459 83 00  Fax: (90-312) 446 24 42 -2- (ii) Withdrawal Applications (Electronic Delivery) 1 The Borrower shall, through the Directorate General of Infrastructure Investments (AYGM), submit applications for withdrawal or for special commitment (“Applications”)” with supporting documents electronically through the Bank’s web-based portal “Client Connection” at https://clientconnection.worldbank.org. This option will be effected after the officials designated in writing by the Borrower, who are authorized to sign and deliver Applications, have registered as users of “Client Connection.” The designated officials shall deliver Applications electronically by completing Form 2380, which is accessible through “Client Connection.” By signing the Authorized Signatory Letter, which can be delivered manually or electronically, the Borrower confirms that it is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the Bank by these means. The Borrower may exercise the option of preparing and delivering Applications in paper form on exceptional cases (including those where the Borrower encounters legal limitations) and which were previously agreed with the Bank. By designating officials to use SIDC and deliver the Applications electronically, the Borrower 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 the Use of Electronic Means to Process Applications and Supporting Documentation, available in the Bank's public website at https://www.worldbank.org and “Client Connection” at https://clientconnection.worldbank.org; and (b) to cause such officials to abide by those terms and conditions. II. Financial Reports and Audits 2  Financial Reports. The Borrower shall, through AYGM, prepare and furnish to the 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.  Audits. Each audit of the Financial Statements shall cover the period of one (1) fiscal year of the Borrower, commencing with the fiscal year in which the first withdrawal was made. The audited Financial Statements for each such period shall be furnished to the Bank by the Borrower, through AYGM, 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 Bank’s public website at https://www.worldbank.org and “Client Connection” at https://clientconnection.worldbank.org, the Bank recommends that you register as a user of “Client Connection.” From this website, you will be able to prepare and deliver Authorized Signatory Letters and 1 Section 10.01 (c) of the General Conditions 2 Section 5.09 of the General Conditions -3- Withdrawal Applications, monitor the near real-time status of the Loan 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 Bank by email at askloans@worldbank.org using the above reference. Yours sincerely, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT ______________________________ J. HUMBERTO LOPEZ Country Director Türkiye Country Unit Europe and Central Asia Region Attachments 1. Form of Authorized Signatory Letter 2. Form of Statement of Expenditure (SOE) With copies: Directorate General of Infrastructure Investments Ministry of Transport and Infrastructure -4- Schedule 1: Disbursement Provisions Basic Information Country REPUBLIC OF TÜRKIYE Section III B.2. of Schedule 2 to Closing Date Borrower REPUBLIC OF TÜRKIYE the Loan Agreement. IBRD Loan Loan No. Name of the Project Disbursement No. 8753 - TR Eastern Türkiye Middle Corridor Four (4) months after the closing Deadline Date Railway Development Project date Subsection 3.7 ** Disbursement Methods and Supporting Documentation Disbursement Methods Supporting Documentation Methods Section 2 (**) Subsections 4.3 and 4.4 (**) Direct Payment Yes Records (Supplier Invoices/Copy of Receipts) Reimbursement Yes Statement of Expenditure, in the format provided in Attachment 2 of the DFIL Advance (into a Designated Yes DA-A: Statement of Expenditure, in the format provided in Attachment 2 of the DFIL; Account) Special Commitments Yes Copy of Letter of Credit Designated Account (Sections 5 and 6 **) DA-A: Segregated - Managed by the AYGM at the Ministry of Type Ceiling Fixed Transport and Infrastructure Financial Institution – TURKIYE CUMHURIYET MERKEZ BANKASI (CENTRAL BANK OF THE REPUBLIC Currency EUR Name Frequency of Reporting Monthly Amount 40,500,000 Subsection 6.3 (**) Minimum Value of Applications (subsection 3.5) The minimum value of applications for Direct Payment, Reimbursement and Commitment Issuance-SC is USD 1,000,000 equivalent. 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 **) 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 N/A Other N/A ** Sections and subsections relate to the “Disbursement Guidelines for Investment Project Financing”, dated February 2017. -5- 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: IBRD Loan [Loan No.] - [Country Code] - [Project Name] I refer to the Loan Agreement (Agreement”) between the International Bank for Reconstruction and Development (“Bank”) and [Borrower Name] (“Borrower”), providing the above Loan. For the purposes of Section 2.02 of the General Conditions as defined in the Agreement, any 3 [one/two/three] of the persons whose authenticated specimen signatures appear below is/are authorized on behalf of the Borrower to sign and submit an application to request a withdrawal from the Loan Account (“Applications”). For the purpose of delivering the Applications to the Bank, 4 [one/two/three] of the persons whose authenticated specimen signatures appear below is/are authorized on behalf of the Borrower, acting [individually / jointly5] to deliver the Applications, and evidence in support thereof on the terms and conditions specified by the Bank. This Authorization also confirms that the Borrower is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the Bank, including by electronic means. The Bank shall rely upon such representations and warranties, including the 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 Borrower represents and warrants to the Bank that it will cause such persons to abide by those terms and conditions. This Authorization replaces and supersedes any Authorization currently in the Bank records with respect to the Agreement(s) referred to in the subject line of this Authorization. 3 Instruction to the Borrower: 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 the final letter that is sent to the Bank. 4 Instruction to the Borrower: Stipulate if more than one person needs to jointly sign Applications, if so, please indicate the actual number. Please delete this footnote in the final letter that is sent to the Bank. 5 Instruction to the Borrower: Use this bracket only if several individuals must jointly sign each Application; if this is not applicable, please delete it. Please delete this footnote in the final letter that is sent to the Bank. -6- Signatory Details Name Position Email ID [Signatory Name] [Title] [Email] Specimen Signatures Signatory Name Signature 1 Signature 2 Signature 3 [User Name] [User Name] Yours truly, / signed / ______________ [Position] -7- Attachment 2 – Statement of Expenditures Statement of Expenditure (SOE) For Goods, Works, non-CS, CS, Training Payments made during the period from ________________ to ______________ Loan 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 Currency and % Financed Amount Currency and Exchange Date of Remarks Name Contract Service Amount, and Date of Total Amount by Eligible Amount Paid Rate Payment Number in (CW/GO/CS/OP/TR) Contract of Invoice IBRD/IDA/TF for from Client / Brief Description Covered by Financing Designated Connection Application (5 x 6) Account (if (for Prior Applicable) Review Contracts) TOTALS Supporting documents for this SOE retained at ___________________________________________ (location)