Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698841135032.pdf (Sierra Leone)
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EXECUTION vERSI(l\l INDEMI{ITY AGREEMENT NL]VIBER G2420-SL (SIER.R{ I,EONE - WESTERN ARE-{ POII,TR GENER{TION PROJEC'T) between REPUBLIC OF SIERRA LEONE and INT},RN^{TION AL DEVEI,OPIVIENT .

{SSOCLATION Dat"d January]a.

2ol7 t + rtT C IF I} \\\ €^= NLDIBER G242O.SL INDEMNITY AGREENTENT THIS AGRXEMENT.

dated January?(.
dated January?(.

Z0tZ b"t*""n REpUBLIC OF SIERRA, LEONE (the " Llember Country"\ and the INTERIIATIONAL DE\,TLOPMENT ASSOCL.TTION (rhe "Associttion'\ (the "Indeunity {greemen{'l in connection with the Guaramee Agrsement (the "Guarantee .4greemenf) on or around the same date hereof between the Association and Societe General (the "BeneJiciary"\ tbr the project described in the Schedule I to rhis Agreement (the "Projeci).
The lv,ftrnber Country and the Assosiatior therefore hereby agree as follows ]\RTICLE I General Conditions; Definitions Section 1.01.

The provisi rns ofthe General Conditions (as defined in the Appendix to this A_ereemenr) set forth in Section tr of the ,A,ppeodix to this Agreemeflt constitute an rnlegral part olthis Agreeircnt.

Section 1.02.
Section 1.02.

Unless the cr)ntext othenvise requires, the capitalized terms used in this Agreement have the meanings ascribed to them i-rt thc General Conditions or in Section I of thc Appendix to this Agreement.

ARTICLI Ii Indemnity by lllember Countr-v to the Assotiation; Opinion Sectior 2.01.
Ir consideration ofthe Associarion providhg the Guarantee on the terrns and conditions set out in lhe Guarantee -A.greemerlt, the lvlernber Country hercby irrcr.ocably and unconditionally agrees: (a) to reimburse the Association imrnediately on demand or as the Association may otherwise dtect in writing for any a[rount paid by the Associadon under the Guarantee Agreement together with interest thereon at the rate per allnum determined by the Association and notified lo the Mernber Country (which rate shall not cxceed the Bank's higtrest prevailing lending rate for loans with a fixed spread donominated in the Pa)'rnent Currency, as may be shown from time to time on the Bank's extemal website) Aom thc date such palmenl is made by the Association until such amoun is reimbursed in full; (t ) to indemniiy the AssocialiLrn on demand and hold the Association harrnless against all actions.
proceedings, liabilities, claims, losses, damages, costs and expenses brought against, suffercd or incurred by the Association direclly or indirectly in relation to or adsing out of or in connection ryith the Guarantee Agreement (except as otherwise provided in Section 7-03(i) of the General Conditions); and \N k (c) that the obligations of the lvlembcr Cou ry under this Agreement rvill not be affected by any acr, omission, malter or thing which.
but for this Section, would reduce, release or prejudice any of its obligations under this Agreement: and (d) in the event that the Association receives funds from the Member Country pursuant to Section 2.01(a) and.
irr respect of the same amounts, thc Association receives a retimd of firnds lrom the Beneficiary pursuant to the Guarantee Agreement or receives funds as a result of fte exercise of the Association's subrogation rights under the Guarantee Agresment (the "Double Paymenf'), then the Association shall promptly refimd to the lvlember Country the amount of the Double Payment together with any interest pa)ments received pursuant to the Guarantee Agree.ment by the Association tom the Benet-iciary in respect of such Double Payrnent- Section 2.02.
Any payment required to be made by the Ivlember Country pursuant to the terms of this Agreement shall be applied t-irst, to pay all interest and other charges due to the Association and second.

after such interEst and other oharges are paid.

to pay all other amounts then duE to the Association under this Agreemcnt.
Section 2,03. lhe Member Counnry shall lumish to the Association an opinion or opinions satisfactory to the Association of counsel acceptable to the Association or, if the Association so requests.
a ce(ificare satisfactory to rhe Association of a compere official of the lvtember Clountry, showing the following matters: (a) thar rhis Agxeement has been duly authorizcd or ratifi.€d by, and executed and delivered on boha.lf of, the Member Country and is legally binding upon the Member Coultry in accordance with its tcrms; and (B) any other maner reasonably rsquested by the Association in connection with this Agrecment or the Pn:ject.
'Ihc tvlember Country acktowledges that the receiPt by the Association of such opinion.

opinions or certificate will be a condition to the effectiv€ness ofthe Guarantee Agreemant- ARTICLE IrI Project Section 3.O1.
The Membcr Country declares ils co.nrutment to the objectives of the Prcjec(' Section 3.011. trVithout limitation upon the provisions oi Section 3.01 of this Agreement, the Member Country shall undertake the obligations with respect to the Project set tbrth in the Schedule 2 to this Agreement- ARTICLE N' Remedies Section 4.01. tn addition to the other remedies available to the Association under development credit and financing agreements between the .A.ssocialion and the Nlernber Country.
in the er€nt that: (i) (x) fie Membcr Country has failed to perform any of its obligations under Anicle III of this Agreement, or (y) any relelant Public Sector Eutit' has failed lo perti-rrm any of its obligations under rhe Relevant Project Docurnen{s) to rvhich such Public Sect(r Entit-v-' is a party and the lvlcmber Courtry has failed io cause sueh Public Sector Entit) to per-tbrm such obligations.

and.
and.

in eithcr case, such i{cmber Country t'ailue has conrinued arui remahed \..-.G^- uncured in the opinion ofthe.
{ssociation for sixty (60) days or more after notiue lhereDfshall have been gi.,,en to the Member Countw by the Association; or (ii) ary represen,ation made by the Member Country in or pursuant to this Agreement or any representation or statement fumished by the lvlember Country and intended to be relied on by the Association in prt-rviding the Guatantee, shall in the opinion of the Association have been incorrect in any rnaterisl respect.
then the Associalion ma) suspend or cancel in whole or in part the lvlember Country's right to make withdrawals under any credit or grant under any deveiopment credit agreement or linancing agreemenr between the Association and the Mernber Country.

or declare the outsranding principal and interest ol any such credit due and payable immediately.

.A.RTICLE V ElIective Date Section 5.01.


This Agreement shall come into force and effecl upon signature by the paflies- A.RTICLE W Representotivel Addresses Section 6.01.

The Member Cormtry's Representative is its minister responsible for finance Section 6.02, The Member Country's Address is; lvlinistry ofFinance and Economic Development Treasury Building George Street Frectown, Sierra Leone Fassimile: 232 22 229 0fi;278 472 Section 6.03.

The Association's Address is: Intematiomrl f)evelopment .
{ssociation l8l8 H Street.

N.1V.

washington.

D.C. ?0433 United States ot' America Attention: Vice President, Atrica Region Facsimile: F1-202-522-3435 With a copl' to: Practice Manager Guarantees { Financial Solutions) Energy & Extractives Global Practice Facsimile:'1-201-512-(t?61 ACREED as trf the day and ycar fusr above written.

REPUBLIC OF SIERRA.

LEONE By Aurhorized Representative Name (printed): :'i'-'d'-r !.r L- l.--4-?<.

(,€, Title [Srgrature Page ior Inde&ntty Agreernentl \$.
4r^ INTERNATIONAL DEVELOPMENT ASSOCIATION By I(.^"X- Representative Name (printed): Henry Kerali Title: Country Director for Sierra Leone t [Signature Page to Indemlity Agreement] \s- &- SCHEDTN,E I Project Description The objectives of lhe Project are to increase the power gcneratcd by indcpendenr prower producers (IPPs) and mobilize private capital.

Thc Project consists ofthe devclopment.
tlnancing, design, construction and operation ofa green-field therrnal power platlt located at the Kissy Industrial site to the east oiFrectow[ mruling on Heary Fuel Oil (HFO) r:n a build-operate-transl-er basis by pri'uate sponsors and will include: (i) the installation of reciprocating engines using lIlO; (ii) HFO storage tanls and water tr€atment facilities at the Kissy site; (iii) a new 33 kV indoor substation at the Kissy site; (iv) reinlbrcement oftne 8 km 33 kV transmission from Blackhall road to the Wellington substation to enhance evacuation capacity Aom the generation t'acility: (v) installation o[ alditional 33/l lkV translormers at the Black]rall road, Ropotee, and Wellington substations: and (vi) construction ofan rpproxinately 1.3 km fuel pipeline and associatcd pumping station &om a neu, jeny for the landing of the I{FO to the Kissy site.
\N\ <,F \ SCHEDLILI 2 Projett Undertakings l. The Ivlember country hereby undertakes h the Associalion to punctually perrbrm all of its obligetio[s under the Relev:rnt Pro.io:t DocumerrLs to rvhich it is a party and to take all lawful action within its Power to cause each relevant Public Scctor Entity to punctualll, pertbrm all ofits obligations under rhe Relevant Projdt Docum<nts to \yhich such Public Sector Entity is a party.

2- The Mernber Country shall ooti!

the.
the.

{,ssociation prior ro agreeing to any material anendment, terminatiol or other change to the Relevant Pro;ect Document to which the I\4ember Country waiv€r, is a part),, and shatl obtain the written consenr of the ,A.ssociarion prior to agreeing to any amcndment, waiver, termination or other change ro sush agreement or undertaking which would or could in the opinion of the Association materiallv at't'ect the rights or obtigations of the Association under the Guarantce Agreement or ury.
Relcvant Projeor Documenr (including any assignrnent.

transfer.

novation, abrLrgation.

granting of jecurity over or Dther dispositjon of any rights or obligations under such agreements) to rvhich the Nlember Country is a party 3.

The lvlember Counrry shall promptly.

(i) notily and provide to the .Association copies of any notices.

clairns.
dernands, reimbursements or recoveries received under the Relevant Project Document to which it is a party, or any other notices issued or received by the Member Country under rhB other Relevant Project Documents that could result or relate to actions to enforce the paynent of the Guarantee: and (ii) notify the -A,ssociation ofany event or circumstance which would or could adversely atTect thc Member Country's ability to perform its obligations or exercise its rights under the Rele'/anr Project Document to which it is a party.
4.

The Member Country shall take all lawful actioos within its power to remedy and cure any EvEnt within the Member Count!

'y's control or responsibility that ,l'ould or could result in the breach or termination ofany ofthe Relevant Project Document to which it is a party- 5.

The Mernber Country shall not createor pemdt to exist or occur and shall takc all lawful actions within its power to ensure that no Public Sector Entity shall create or permit to exist or occur.
any circumstance, or change in the laws or regulations in et'fect in the Member Country after the date ol this Agreemont that would rcnder obligations under the Relevant Project Documents rllegal, iavalid, unenibrceable, ineffective or void in l'hole or in pan.

It'such circumstaace or chalg€ exists or occurs, the Mcrnber Country shall take all larvful aclions within its power to remBdy and cure or to procure that the appropriate Public Sector Entity remedies and cures.
the adverse el'fect on the Project oi such circumstance or change in law or regulation.

6.
6.

The Member Country shall: (a) take all actions tlut shall be necessary on its part and take all lawful actions within its pou er to procure thd any other Public Sector Entity takes all actions uecessary on its part to enable lhe Project Company to obtair any authorization for the Project required under the Relevant Project Documents; (b) carry out promptlv, and talie all lalvful actions withi-n its power to cause any oth€r Public Scctor Entity to carl,.

out promptly.
out promptly.

or as may otherwisebe agreed between the lvlember Country and the Association, any acli(rn required ro be performed by it ,--rr such Public Sector Entity to enable it or the Project Company to crlmpl)' wirh the requirements ofthe Relevant Project Documents, including the PErtirrmance Staodards.
the Acricn Plau, the S&lA and S&E lvlanagement System: and \-- <_L.-- ic) not t3kc, and shall tal(e ali lawful actions within its power not ro cause or permit any other Public Sector Enlily to take, any action that ivould prevcnl or interfere with rhe performance by Ihe Project Compauy of any of its obligations in coru:ection with the Project or undcr the Relevant Project Document or an)' other agreement related to the Project; (d) not (i) (ii) dissolve, discstablish.
or suspend the operations ofEDSA; or change its ownership or control of EDSA aom that exrsting at thc dale of this Agreement (except, f,.rr the avoidance oldoubt.

any sale, transfcr or assignrnent by the Nlember Country of any voting interest in EDS,A.
's share capital that rvould ntrt result, direotly or indirectly, in the lVlernber Country's loss of its ability to elect or appoint a pajority of EDSA's board ofdirectors (or equirzlent body), or its ability to dtecr the management or policies of EDSA; (e) terms of.
or achievement .rfthe objectives erpressed in, the Sector Policy Lettei act (and cause all relevant Public Sector Entities to act) in a marmer consistent $,ith the (t) keep (and cause all relevanl Public Sector Entities to keep) the Association infonned on the progrcss ol any aclions or nieasures set out in the Secto!
Policy Letter, and discuss and agree with the Association any remedial measures to be tateo in the event of delay or l'ailure ro comply rvittq or achieve the objective or, the Sector Policy Letter provided that in relation to (i) a judicial or quasi- judicial body or authority.

(ii) the Auditor General of Sierra Leone.


or (iii) the Audit Service of Sierra Leone, the Member Cormtry obligation in this pamgaph (O shall be deemed to be ltnitBd to the extent the Member Country is legally abte to do so; (g) consult (and cause all relevant Public Se€tor Entities to consult) with the Association prior to taking any action that is contrary to.
or oth€rwise inconsistenr with, the tenns and overall objectives of the Sector Policy Letter, ifsuch action would or could materially aft'ect the Project or the rights or obligations ofthe Association under the Guarantee Agreement or any TransactiLin Documents; ald (h) without prejudice to Sections 4.10 (Cooperation and Consultdtior) and 5.01 (Financittl and Economic Llatal of the General Conditions, upon request.
pmmptly provide (and cause all relevant Public Sector Entities to provide) the Association with all information necessaD,, in the reasonable opinion of the Associalion, for the Association's review of the Member Country's pertbrmance oiits obligations under tfus Schedule, including in respect ofthe Secttrr Policy Letter.

7.
7.

The Member Counrry (i) affirms ro the Association that no Sanctionable Practices have been engaged in by any otlicial 1)r represintative of rhe Mcmber Country or any Public Sector Entity; and (ii) covenants that neithe.r it oor any Public Seetor Entity shall engage in Sanctionable Practices; during and with respect ro the perfomance ofany cootract or activity related to the Project.

8. lvithout prejudice to Sections 4.10 and 5.01 of lhe General Conditions, the lv{ember Country shall.
upon request, promptly provide the Association all information necessary, in the reasonable opinion of the Association, for the Association's revierv of the lvlember Country's performance of its cove.nants pursuant to this Schedule.

€ Section l. Definitions .

{PPf,]iDI\ 1. l 4 6 3 9.


"Action Plau" means the plan or plans dereloped by the Project Company setting out specific social and environmental measules t(l be undertaken by the Project Company, to enable the Project to be construcled, equipped and operated ir compliance with the Performance Standards, as such Action Plaa may bc amended or supplemented ftom tinre to time.
"Anti-Corrulxio Guidelines-' means the -.-\nti-Corruption Guidelines ibr lVorld Bantr Guarantee and Carbon Finance Transactioos" set forth in Secrion III ofthis Appondix.

"tDS.4" means the Electricity Distribution and Supply Authority, the body corporare established under tlre National Eledricity Act, 201 t .

"Geterat Conditions" means lhe -'tnternational Development Associatiol Ceneral Conditions for Credits and Crants".
dated July 31, 2010. with the modifications set forth in Section Ii of this Appendix.

"Gaarantee" m€ans Agreemeflr.

the guarantee provided by the Association pursuant to the Guarantee '-Public Sedor Eufirl' means: (") (b) (c) (d) EDSA; lhe Government oithe Member Country.
the Parliament ol the lvlember Country, any govemmeltal dEpanment or ministry, agency, body, (including an!./ state-owned compaly or other state-orvned cntity) instrunentaliry or public authority, whether Dational, state, regional or local (or any subdivision thsreof).
or any other €ntity subject to the overall conuol or direction as to rnaiteni of policy of the Governrn€nt of the iVlember ( ormtry or which is othcr\r,ise controlled by the Goverrurent of the Member Country: any court in rhe Mernber Cournry wilh jurisdiction over the Project Compary or the Project or any part thereoi; or anv other person in the Mernber Country having or asserting authority to issue a license, approval or consent required or necesury in comection with the Project, or otherwise havingjurisdiction over ary aspect ofthe Pro1ect.
"Performance Standards" means the World Bank Performance Staadards tbr Private Sector Activities as approvcd by tlre Association's Board ofErecutive Directors on June 26, 201 2, WBG Enrironmental Health and Safety Guidelines for Thermal Power Plants dated December 2008.

*Project Compauy' means CEC.A.

SL qieneration Limited, a company incorporated rmder the laws ofthe Republir of Sierra Leone. ''
Relevant Project Documerrf'me)ns (a) this Agreementi N. € (b) (c) (d) i.:) r0 (g) (h) the Power Pruchase Agrecment entcrsd inlo or to be entered into beMeen the prqect Cotnpan'; (as generator) and CEC Africa (Siena Leone) Limited (as sharehol der), on the one hand: and the lucmb€r Country, acting through the lvlinistry of Finance and Economic Development and the Ivlinistry of Energy, and EDSA- on the other, in respcct ofthe Project; the Cuardntee .
{gr6ement; the CoopeBlion Agreement between IDA and EDSA dated on or around the datB hereof ir respecr of re Project; the Reinrtrursement and Credit Agreernent dated on or arowrd thB date h eof between the l\,{enrber Country and EDSA, (}n lhe one hafld: ald Scriete Generale, on the other.

in respect ofthe PPA; lhe Project Agreement dartsd on or around the date hereof between IDA and l}Ie Prcject Compan] in respect of the Proje;t; &e letter of credit.
which is covered by the Guarante€, issued at the request of the Member Count!_v and EDSA in thvor of the Project Company as secudty for certaia palment obligations unddr the PP-A: and any other material document related to the Project and to which rhe Ivlember Country or a Public Sector Entity is a party or has issued.

1r) 11, 12.

13.

".9&E{" means the social and environmental assessment, dated Decenber 9 2015 prepared by the Project Company in accordance \l,irh the Performance Standards.
"S&EA ,Vanagement Slsten" means the Project Compaly's social and environmental management systern enabling it to identifi, assess and manage Project risk on an ongoing basis.

"Sector Polic!

Lefief'means the letler dated June l, 2016 signed by the Honorable Minister of Energy, Henry C).
Macauley, and the flonorable Minister of Filance ard Economic Development, Momodu L. Kargbo, of the Govemment ofthe Republic ofSierra Leone addrcssed to the Country Director for the lssociation, Mr. Kerali, with reGrence ''L€tter from th€ Govertnrent o,f Sierra Leone Polic!

to Enswe Financial antl Operational Sustdirutbilitv in lhe Elecricitv Sector," and athched as Arlnex I to this Agreement.
"Sanctiona e Prantices" means any Corrupt Practice, Fraudulent Practice, Co€rcive Practicg Collusive Practice or Obstructive Practice, as those terms are detined and interpreted in accordance with the Anti-Corruption Guidelines.

Section II.

General Conditions The following provisions of the General Conditions, with the modifications set forth below, constitute an integral part of this Agreement: 1.

Article I.

0 \\ /-?'

2 3 4 5 6 8 9 l0 1l 12.

Sectiorrs i.06.

3.t)7.


3.09 and 3.10 Sections 4.10, 4.1 1 and 4.1 2.

Article V. Article VII.

Section 9.01 , modified by deleting at the beginning ofthe second sentence the words "Except as otherwise providcd in Section 8.03(a)."

Section 9.02, modified by deleting the wonds -'(and the representative designated by the Projeci Implernenting Emity ir the Projer:t ,\gfcemcnr)" and "(or the Project Lnplementing Entity.

as the case may be)."


Section 9.03, modified by deleting the rvords "and the Project knplementing Entit-v." Sections 9.04 and 9.05.

Paragraphs 5.6,7.8, 17 and l8 ofthe Appendix.

Paragraphs 22 and 23 ofthe Appendix.

Paragraph 25 ofthc Appendix, moditied to read as follows: (i) '''Financing" means the amounts payable by the Mernber Country under this Agreement."

13.
13.

Paragraph 27 ofthc.Appendix" modified to read as lollows (i) "'Tinancing ,{greeme " means the indemniry agreement behvecrr the Member Country and the .d;sociation pertaining to the Guarantee.

as such agreement may be amended tbrm time to time.

''Financing AgreemenC' itrcludes these Gencral Conditions as applied !o this Agreement, and all appendices, schedules and agreemerts supplemental to this Agreement.
I.l Paragraph 28 ofthe Appendix, modified by deleting the words "including (but not limited to) any amount of the Withdrawn Credit Balance, the Sewice Charge, thc Corritment Charge, and any refiurd of the Withdmwn Crant Amount payable by the Recipient."

15.

Pmagraph 32 of the epprendix, modilied to read as tbllows: (i) ""Legal AFcement" Eeans this ,{greement."

16.

Paragraph 35 ofthe Appendix.

l1 lS.

Paragraph 19 of the Appendix, modified by deletiag the words -for which the Financing is eranted."
Paragraph 40 ofthe Appendix, modihed to read as tbllou,s: II \s ff (il ""Projett ASreement" means the cooperation agreement enrered into or to be entered into betrveen thc Association snd EDS.\ in cormection with the Cuarantee, as the same may be amended from time to time in accordalce with is terms.

'.project Agreement" includes these Cenerai Conditions as applied to the Project Agreement, and all appendices, schedules and agreements supplemental to the Project Ageement,' 19.
Paragraph 41 of the Appendix, modified to read as follows: (D ""Project Implemcnting Entiry" means EDS.

{ which is a party to the Project Agrcement."

20.

Paragraph 45 of the App€ndix, modified by deleting the words "and to which the Financing is extended."

21.

Paragraphs 46, 47.

51.

52.

53 and 54 ofthe Appendix Section III.


Transactions Anti-Corruption Guidelines for \lbrld Bank Guarantee and Carbou fioance The purpose ofthese Guidelines is to clarily the meaning ofthe terms "Corupt Practiccs," "Fraudulent Practices."
"Coercive Practices," "Collusive Practices" and "Obstructive Practices" in the context of World Bank project-based guarantee operations and carbon tlnance transactions, where the World Bank, as trustw ofa carbon filnd- purchases emrssion reductions under an emission reductions purchase agreement- CoRRUPT PRA(]TICES A "Corrupt Practice" is the offering, givinB, receiving or soliciting, dtectly or indirectly, of anything ofvalue to iniluence impnrperly the actions of another party.
INTERPRETATIoN Corrupt practices are underst.rod as kickbacks and bribery- The conduct in questior must involve the use of improper meals (such as bribery) to violate or derogate a duty owed by the recipient in ordcr for the payor to obtain an undue advantage or to avoid an obligatiorl Antitmst, securities and other violations of law that are not ofthis natue are excluded from the defrnition of cornrpt practices.
B C It is aclnorvledged that forcign investment agreements, concessions and other trrpes of contracts co monly require investors to make contributions for bona tide social development purposes or to provide lirnding for in&astructure rurelated to the project.

Similarly, invesrors are often required or expected lo make contributions to bona fide local charities.
These practices ar€ not \"iewed as Com.rpt Practices for pu4r,oses of these defrnitions, so long as they are permilted rmder local law and tully disclosed in thc payor's oooks and records.

Similarly, an investor will not be held liable for com.rpt or fraudulent practices cornmitted by entities that administ€r bona fide social development funds or charitable contributions.
lo the contcxt ol conduct between privare parties, the otfering, givrng, recciYing or soliciting o1'corporate hospitality and gifts that are cusnm:ry by intemationally.

&- accepted industr-v standards shall not constitute corupt practices urrless the action violares applicable law.
D. E, Payment bv private sectorpersons ofthe reasonable travel and entertainment e-rpenses of public officials that are consistent with existing practice under relevant law and intemational convEntions will not be viewed as Corrupt Pmctices.

The World Ban}i Group does not condooe facilitation payments.

For the pu4roses of implementation, the interpretation of "Corupt Practices" relating to t'acilitation payments will take into account relevant law and intemational conventions pertaininB tO Corruption.
FR-{UDULENT PfuACTIcES A "Fraudulent Practice" is any action or omission, including misrepresentation, that krowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial benet'it orto avoid an obligation.

INTERPRF:].ATIoN .4n action.

omission, or misrepreseltation $,ill be regarded as made recklessly if it is made rvith reckless indifference as to whether it is true or false.

Ivlere inaccuracy iu such information, cornmitted through simple negligence.
is not enough to constitute a "Fraudulent Practice" ior purposes oiWorld Banli Group sanclions.

B FraudulEm Practices are intended to cover actions or omissions that are directed to or against a World Bank Group entity- lt also covers Fraudulcnt Practices directed to or against a World Bank Group member country in connection with the award or implernentation of a government contract or concession in a project tinanced by the World BanI Croup.
Frauds on other third parties are not condoned but are not specifically sanctioned in World Bank Guarantee or carbon finance operatrons.

Similarly, other illegal behavior is not condoned, but will not be sanctioned as a the World Bank sanctions program as applicable to World Fraudulent Practice und€r Bank Guarantee or carbon tlnance oDerations- 3.
CoERCTvE PRAC ('Es A "Coercive Practice" is impairing or harming, or threatening to impair or harm, directly or indirectly, any party or the propeny ol the party to influence improperly the actions ofa parry-,.

INTERPRETATIoN Coercive Practices are actions undertaken tbr the purpose of bid rigging or in comection with public procurement or government contracting or i furtherance of a Corrupt PraiJtice or a Fraudulent Practice.

B.
B.

Coercive Practices are thrcatened or actual iliegal actions such as persoml iniury or abduction, damage to property.

or injury to legally recognizable interesis.

in order to obtain an unduc ad\rantage or to avoid an ot ligation.

It is not intended to oover hard bargainilg.


rhe exercise of lesal or contractual remedie-s or litigation- t1 \\ "<^-^ ;I. COI.LUSI\ E PR.\\-TICES A "Collusive Practice" is an arrangement between two or more parties designed to achie're an improper purpose, including to influence improperly the actions of another party.
INTERPRETATION Collusive Practices are actions undertaken for the pupose ofbid rigging or in connection with public procurement or govsrnment contracting or in furtherance of a Com:pt Practice or a Fraudulent Practice.

5 C)BSTRLICIvE PRACflCES An *Obstructiv€ Practice" is (i) deliberately destroying.

falsifying, altering or concealing of evidence material to the in!
'estigation or makit]g offalsi statements ro furvesti8ators, in order to rnatcrially impede a World Bank Group investigation into allegations of a comrpt, fraudulent, coercive or collusive it from disclosing its practice, and/or threatening, harassing or intimidating any party to pre\€nt knowledge of matters relevant to the investigation or from pursuing the investigation.
or (ii) acts intended to matcrially impede the exercise of the World BaDk's access to contractually required informalion in corueclion wirh a World Bank Croup investigalion into allegations ol a corrupt- fraudulent.

coercive or coll'usrve practice.
IN TERI,REIA l,ION Any acrion legally or otherwisc properly taken by a party to maintain orpresen'e its regulatory, legal or constitutional rights such as the attomey-client privilege, regardless of rvhether such action had the effcct of impeding an investigation, does not constiture an Obstructive Practice- GENERAL INTERPRETATIOIi A person shouJd not be liable for actions taken by unrelated third parties unless the first party participated in the prohibitcd act in question.
l-1 N<s*_ Antrex 1 Sector Policy Letter l5 \s G-- ( L 'I Government of Sierra Leone Ministry of Finance and Economic Development Ministry of Enelgy June'1"r 2016 The Country Director The lnternational Development Association The World Bank Ghana OfFrce P O Box M27 Accra Ghana Dear Mr Kerali Ref; Letter of the Government of Sierra Leone Policy to Ensure Financial and Operational Sustainability in the Electricity Sector A.
INTRODUCTION This letter outlines the measures that the Government of Sterra Leone ("GoSL") is committed to implement over the coming years to: (l) attract and ensure the sustainability of private sector investments in the electricity sector.
including the prioritized Western Area Power Generation Project; (ll) ensure that the Electricity Oistribution and Supply Authority ("EDSA") becomes a flnancially independent and commercially viable distribution entity with a credible track-record of making due and punctual payments to its power producers and fuel suppliers.

improve transparency and predictability of cash flows in the electricity sector.
and (lll) (lV) reduce the burden of the electricity sector on the frscal budget of Sierra Leone The polcy measures set out in this letter are designed to improve the pertormance of the electriclty sector and.

more specifically.

to ensure: (i) the reduction of EDSA's commercial and technical losses.

(ii) improvement of EDSA's management and operalions: (iir) that the electricity sector progresses towards having tariffs for end-coosumers that reflect the production costs of electricity.
(iv) the establishment of a transparent cash management mechanism with prioritised payment obligations for the electricity sector: and (iv] the eliminahon of fuel taxes that are currently causing an excessive burden on lhe sector 11/36895076 6 N1 /g I9209689e/rL ^ue sraunsuof pua ol paJjarsuell leql os lndlno pue osueui.rolad s,vso3 ur ssr3uarcuJa aq lou II^ vsof Jo sarxu€r.rgaur asru6o)oj llr^r elnuxol lu"urlsnlpe lanJ crleuolne aql lBql alou ol lueuodull sl ll sa6ualleqc aoueqoxa uoreloj puE sacud lanJ ol saoueqo pue llrlqplo^ pallar ol atqeled luel aql lsnfpe IllE3[eurolng plno/{ leql elnurol luaurlsnlpe lanJ e ourdola^ap a]e siauued -ro}cas uro.r1 e"uelsisse te3ruqeal qlnr '(,.CUr\ 3,,) uorssrtuuro3 rOoleln6ag ralPM pue iltoulcalf ^6Jauo aLll pue VSOf lsog aq_L sessot aonpe.r ol sa^rluacur 6u4earc agrq,u slsoc alq"uoseaJ slr Je^o?3.r ol vsol sxrolle lPqt eJnlcruls lrJel aql ssesse ol ssasoJd e uo pelrequra e^eq aM 6urpr^ojd lo lsos anrl aql lcaual aql ur sguel Eulre^ard aq1 suSnnsNoc oNl ol Aljcturc3l3 Jo lsoc tnu].
:rHr r9:t1J3u 01 l-Nlt lsnrov lJBvr ol paau pue a^llaauaj lso3 lou are ropas 'slaunsuo3 puo ol ol palsnlpe ^lDulaala ^lrgrJleala "q ra/6od s,lso9 aql .,o/pu?
sVSOs til!,l uoUceuuoc ur uouduJaxa ,r, ;1::f.":iff"il1i':1 6r.rraa.r6e 1go9 aql Iq 'pouad u,lrJalur aql u pue ILOZ q3JeW Iq lo lanj uo uo0druaxa xel aql Jol aprnojd o1 lov asueurj aq] ourpuaLue Iq pelueuraldur aq ltu luaurtrl'Uuroo sr.lf ^^eaq alqe,{ed sluel VSOf ^lrculcala aql acnpar ol '(r(nal rasn peoJ aql se qons) auoal eJJarS ur sasodlnd uo[eJauao JoJ s]oleJ3ue6 asoq] Iq pesn ^q !o len, I^eaq ot 6uqele.l suoueorlqo xel ureuac urorl lsog aqt]o/pue VSOf ql!,v\ quaueer6e aseqgrnd Jel'^od poUUPJ e a^eq oq/,,\ s.iolejaua6 Jolcas lduJaxa llr^ lsog aqI uol3ls All3tul.9fl3 :rHr NrHl.rM NOTTVU;IN3C USMOd t,lloul S:lXVr 'lto -ttnl A^V3H lO Notldw3x:l 'vso3 ol saor^ias 6urplnq {}cedec pue uoqerado 'luatue6eueu, apt^o.td llr,r'^ Joloelluoc luauJa6eueul eq.L 9IOZ I|n1 r(q 'suotlpuoc pue surral peaj6e ,(1;enlnLu uo '€fOZ loqoloo Z uo pansst aql ut lno las sluau,]ltutruof, aql qlt/'l aSuepJogce ul Jopelluoc lsog eql luoJl Jala-l luauaoeueuJ e qlr/v1 lcprluo3 luaua6eueut e olut sJalua vsol lelll atncold lI^ lsoe aq1 slcvuINoJ lNf ultf 9vNvht ^lrculcale ^crlod Uaql ralap pue all3el ll/r\ .
pue iZlOZ raquraoao Ig urer6ord dunsi aql ^lr3uleale qlm a3uPprocce ut geulnsuoc a6te; to; atnrcn.rlse{ul 6uualou paleurolne elsut llt^ ssocojd srql) Z!02 aunf Iq sjalunsuoo clsal,Uop lsoru lo] stalau ptedajd llelsut lltrr, :(9 !OZ ut paouatuuoa aql lo acueu./rorrad aql asr^redns ol (uorleu,olur .,"u,|"I;''f,',,#"fi,?3E5t aes eseald) lrelluoc luauaoeuetu aql ol luensjnd ueel luauaoeuen e qsttqelsa ll/u :iauueu {lauI e ut 'lSog aq] lo (auuel6ord dUnS3 atll outpnlcut) salouaoe ourdola^ap leuo[eulalul Iq papury aq ol sleatold uortnqulsrp lo uooeluaulaldrut aql rolruour pue asr^ladns ot (9IOZ /(lnf Iq leuo[eJado eq lI^ qcrq^l) vsof ulql!/vr lun uorleluaulaldtul lJafoJd 3ul paqstlqelse e^eq (e :-.lso0 pup vsof ,salel uotlsalloa snua^al aseaJcut pue sassol uats^s aJnpa.J ol raplo ul po[ed auEs aq] 6uunp o7o96 la^o o] sale.l Uotlo€ltor anua^3.l asear5ur ol pue ZZOZ ot 9!02 ruoJJ pouad aql 6uunp .o7.9 9Z lseel le ol .0/6gg i(laleulxordde 1o ganaj 6urlren6Jd aql uo{ sassol ulalsls OulJnpeJ o} palltrlrruoc aJe .VSol qlrm raqla6ot .ls;g eql ssssol ruols^s ,o uollanpau SINS lrll'lt/\l,Jll OC "lSoe (a (p (9 (q (Ar) (I r) ( ) (r) 'a -{> \N' t I9109689e/rr u/uolaaJj ur lcafoJd Ja/1 od lro lanl-I^eaq M[l\l8zt e lsalojd uollerauao Jari^od Palv uratsaM aql Io (MnLg) I eseqd ourpnlsul lolcas s.auosl eJlars ouuoddns ur dnojg )jueg pUoM aql lo sertrlua ourMollol aul jo alo.r aql a6pet/t ouloe aM sulo'IoH:lvvLs "lvNotlvNu3rNr utoul Luoddns lo lN3weo3'lrl^oNv Sv ^llsrJlcala (IrA) ^ilsrurtll ^6reuf ^lrcllsala Jo fulsrurw aql pue
 luaurdola^ao 3rurouo3l pue a3ueurJ lo slseq lenuue 3ql Iq ue uo pai er^ar pue vsoS Iq peJn3old aq ol labpnq lolses tEnuue aql ur patJrluapr 3q llrl luaudola^eo 3(!ouo3f pue srueurl lo futsrurn aqt Iq palpcrpep aq ol spunj 3q1 lcllao aql 6urlelnoleo ur s"rlr^llrsuas snouen aql Jol Jalei ol lunoue lgua6uquoc e Jol sprAord ll!/\4la6pnq leuoueu eql louao eql sgnpaj ol lsrsse llr/v\ 'a^oqe (nl) pue (l) sqdpr6ered ur pacuajalaj se '1uaLu1sn[pe gr-re1 aql pue sassol uelsls ur uo[cnpar aql leq] alou ol lueuodur s!
]l .uoddns se paleururouep l36pnq leuorlEu aql ur r/Jelr aurl paleorpap e qonolql Jotoas lr?ueo aqtjo1 spun; 6uqecog;e Iq (lunoLue e snld) llrrlao aq] 6urpunt o] Eruitt,oo (,,O:lJoN,,) luoLudola^ao 3r.l.rouo33 pue aouEUrJ lo lJlsrurn aql ,(lro.rlcata JoJ pueurap pue sale./ aoueqcxg lanl ,ro a"ud aqt ourpnlJur salqeue^ ulel]a. Jo uoq.unl e aq llm lcuao aql sV 'rallal s[ll ul peur[no saJnseaur aql 6ul]uaualdtur Iq t!3!Jeo aql 6urenpal ol It!tuoc eM gtOZ IeU\l 1!
palep lueg ppoM eql papr^oJd elou lecruqga] aql ur lno les sr lr3uao lenuue palE[rlsa aq1 e]nlnJ elqeaaselol eql ur lrcrrap e 6uraq oJaql ol peal lI/'^ Ll3ILl/r1 aql ur (.,1!JUaO..) labpnq ro]oas ^q sluauraaJ6p aseqc.rnd Jaaod Jepun sleonpord JaMod ol alqe,{ed slunoue 6urpnput 'sasuadxa s.VSOf pue VSOI Iq pelereueo sanue^3r 3ql ueeMlaq de6 e eq II,t^ araql 36pal/v\oD{3e eM ^cua6u[uo3 ^lrcrpalf.. ^lrlulcala 1t3t.rto uorgts l1tcru1c3'I3 uoj Luoddns Auv.l.lcons (tn) .suoue6rtqo luaurr(ed sVSO3 Jnouotl ol alqele^e apeuJ st,(cualnc u6tatol luer3ulns leql aJnsua ol ,(cuarnc u6raro; qcns ro llPlroqs aql dn ourletu ol q[!u]o9 lsog aql 'lelleuJ ler3leuuro3 auoa"l erars aql ur IJuarJn3 u6rarol 1o fleJ.Lrorls e ]o luala aql ul lerileur lercJa(uuroa auoal eJJarS eql ur lcuaJrnc uoraioj lual9rgns urelqo ol alqe aq sle/v\le lou lua6v luapuadapul aql pue lueg lunoacv uolrello3 aql lPql 36peu'loulce aM ,buajJnc le30l ur paleurLuousp aq llr/r sanua^ar s,vso3 ro lle slrq/v\ 'IcuarJnc u6raro, ur paleurujouap aq llr/r^ Jo aje suo[eoflqo lueu^ed s.VSOf ]o auos ^eur Ztoz tI EN Lc Iq lueg lunomv uorloalloC eql qlr/t/\ tunoccv uorloalloc aq1 6urqsr;qe1sa pue lue8 lunoccv uoq3alloC aqt qlrr\ luauJaaJop ue OlUl oulalua (p 30NVH3X3 NgtSUOl tO ALt'ItSV'ItVAY (lA) lunof,"e uolcalloo oql lualualdut ol !
!02 ]tV llou3all lpuorlpN aql burpueue (c ^q pue :L|OZ qsjeN !t ( e!ete,\ r.tsec aql 6urpnlsur) sluauiaouere uollelal ul lua6v luapu3depu; ue;o luaulurodde aql roj rapual ol uo[?I^ur u?
anssr :9!OZ Jaqurasag 1g iq lunoccy uoucalloC aql to uolleJlsrurtupe aql ol (q :9!02 lsnOnV t ,(q lua6v luepuadapul 3ql Iq paldope aq ol lenuey\l leuorteJado aU Jo UeJp pacue^pe ue EuuedaJd (e :z aJnxauuv ut lno las laaqs u]lal luno3sE uotlrallo3 aql puP I eJnxauuv ut lno las saurlaurl gl.ll qlrnl acueprooce ur salqeiallap ial 6ur,r olpl aql ol luiuroc art pue luno"gv uon3e[o5 sr.ll luau]atdur ol (,,3otill,) ,(6rau3 1o fu1srury1 aq1 pue CUMI eql '(,Jtun ddd.)
lrun drltsJ€uued ele^ud crlqnd aql 'VSO3 sapnlcut r-l qn 'aaIruuo3 B pauuoj seq lsoe aqf osle llliu sluauiaoueJe aprrr' Jotsas aq1 llerJal?/v1 l.lseg pSutulelepejd e ql A ssuepJoscp u!
lunoccE uo[cello3 eql trioJt pred aq ol se[rlrqel pue slsoc svs6f Jo uteuac JoJ pu" lunocoe uollcaltoo e olut paltacal aq ol VSO] ol sluauled utpuac lol apr^old llt^ sluaulaouerre asaql lunocce uoqcalloc aprlr\-Jolcas p 6urqslqelsa 6urpnlcur 'jo1cas ,(lrcupala aql lol sluauJa6uelJe uoll3allo:) pue luauJ€6eueul anua^ar ourrlslqslsa ol paUrultuo, aJe 'VSO3 tllll laqla6ol "lsoe aql- slNf ylr:T9NVUUV INnOS9V NOtI93'I'lO3 UOIC3S AItCtUlsl'11 srossaoens s,VSOf ]o anua^ai ol ^lddE (n) a) tlre lnternational Development Association: in offering to provide a Partrat RiSk GUarantee to facilitate the issuance of a letter of credit in support of certain payment obligations of the GoSL and EDSA under the power purchase agreement; b) the Multilateral lnvestment Guarantee Agency: in offering to provide a political risk insurance instrument to the equity investors in relation to their equity investment in the project; and c) the International Finance Corporation: in oFfering to provide, as mandated lead arranger, debt financing for the Westero Area Power Generation pro.iect.
coNcLusroN c. The GoSL renrains comnritted to implementing the measures outlined in this letter and to continue to support the electricity sector until it becomes self-sustaining.

We understand the need for these measures to be implemented in order to attract private sector participation.

We would like to use this opportunity to again thank you for the continued support of the World Bank and we hope that we can continue to work with you as partners for the benefit of Sierra Leone.
You.s Sincerely Honourable Minister of Energy Henry O Maca uley i Honourable fulinister of Finance and Economic Development lvlomodu L. Kargbo W 1'1i36$950/( 6 \\<k &N I 91096898/tt .ac!
]ro s,lereuee IauJolv aql pue Iueduroc uorssruisueJf pue uorleJeuae a$ 'uorssrruuro3 fuoteln6aU.raleM puE ArcDl.alf aql 'lrun drusjauu"d ale^[d crtqnd IlddnS uounqrJlsrO pue,(lrclrlcali 6rll luatudola^ao clruouo3f puB acueurJ.lo fulsrury\j aql aql '/(6rau= lo fulsrurn aL0 tuol sJsqt etu 1o sasr]duoo dno,6 6ur)llor,^ lunos3p uo!l3alloC aq-L :eloN ^6Jauf ^luoqlnv dnore 6u,IJoA lunorov uo[rall03 dnore 6urtJoAA luno3cv uorloall03 dnoi9 6ur1.ro11,1 lunocry uoqca1lo3 dnore 6urlroM lunof,3v uortJalloC dnoJ9 6ur>l.roM lunocc\r uoQ?alto3 dnoro 6ur1.roL4 lunoccy uoqca11o3 uo!lEluauraldur aqt rol atqrsuodsar ,{t!tul Z IOZ aunf !O IB 1;67 qc.ie6 15 ,ig 1LoZ 8Z ^renrqal ^8 9l0z raquresao Lt 1loz r.lorew [e ^E gLOZ lsnonv L Ig au!laurlf luaOV luapuadaput aql Iq lunoJae uoqcallo.
aql ]o uolelado aql Jo luaularuaruu,oC lunoJce uo[calloS aql 6uruado pue IUeS uorlcalloc aql lo uorlJatas luaOV luepuadapul aql Jo uo[3elaS luaOV luepuadepul aql lo luau.rturodde elll Jo, lepual ol uo[elr^ur ue enssl L toz '13V,{Ieu}call tBuoueN aLll ol urnpuappE aq1 1o uorlecrlqe.r {reluaurerped lBnuen leuorlerado arl Jo Uerp paoue^pe ue Jo uo0eredald uotl3v seuolsol!lr[ ]unoscv uoltf, alloS e I SJnXaUUV --^,9> \N 1 i t- I ,; i. J: : I !

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arll) uouerlossv luaLudola^oo r l?loqeuralul aql pue vl aql ql!41 uollellnsuol u!
aull ol alull UJoIJ pat!^el I puP aaltlururo) aqt q pEldope se Jo]rEs Alflrllala aqt tll sPul'tl lo lo-lluol I pue Auruodar 'luaura8eueur aqt rol lenueur suolleJado uP ql!/!\ arueprotle ' ur tunorlv uollrallol aql saleJado pue sralsrururpe vl aqt leql SuuntroJd ll) ' uolltrallol aqt alerado ol paltralas v aqt quM luauJaaJBe ue olur Sur]atua {q) ' aqt) T.IOZ 'trv ll)lllal3 lpuorleN aql 8ulpuaurE uollelslSat : :(..luaruaaJ8v Vl., atlt) tuno-rrv :(,,l'v lueu.rpuaurv,, 8ulssed {e) ^JErulrd :Aq saldDuud lunollv uoqlallof aqt ol lra$a le8al a^r8 lluv{ tsog aql (e) 3u!u!elsns i -rias s!
lopas itlllrDala s,auoat prrars ]eqt aJnsu3 ll!^i rlrLlrvi uals^s e tuauroldtrJl I pue aredard ol tuessalau aq ll!/.^ t!

'urel 3uol aq) ur teqt saslu3oreJ tsog aql (a) 'sralddns Bql ol suolleSIqo luatUled sl!

slaaur vSCa leqt arnsua ot {lunorrv uolpallol aql olu!

slunoure qrns AEd pue) lDqoO d(ll punJ ot pallnbaj aq llr,r\ O3Jct^ '@Jal ulnrpaur ol Uoqs aql u!

leql saslu8o)aJ'lso9 arll (p) rollas llrll.rlf,ala ; lsl!

ul stuoltrlso^u!
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peJlle ol sruJoJar loDas lllllrFala laptM s,15og Jo Ued : se SururElsns-Jlas pue EuruorllunJ.llor\ s!

.rolras lllllrpala s,auoal errars leql (a) I pue :rauuEur i Alaurl p ur tunorlv rro[]allol eql otur pted pue parlluapr Appall sr punj 01 I pa.rlnba-r s1 oljow aql telll (,1 olaq oI uotlt;s ul paqlrtrsap se) llluao aql req] (p) I I 1VSO3 Jo sasuadxa pue salqe^lelaJ aq: pue srallddns ol pled slunoure ol spJeSaJ qu,t\ IruaJedsueJl pue lfrrep (r) jsalllua tllns ol sluauae.l8v i .
llddns nqt Japun suoUe8rlqo truaur^ed slr rltlm salldruor VSOI pue (Molaq Et uollres ur lno las) lleJJslef luauled paalSe aql qllr alueprol)e ur lauueu, ,1laur1 e ur pred are (,,sluauraaJtv llddnS,,) sluaruaar8e llddns lanl pelcllosse | -ro Er-rrtlor Ja^iod 'aspqrrnd r?^rod p!le^ pus palnlax.

llnp rapun Vsol ol | (,,sre!tddnS.,) uorleJau3S.rar;iod lol vSOl Aq asn JoJ lan, 3ur^lddns sa!l!tua Aue pure .
{rlrtrleala ro/pue i uorleJauat terupela Su lddns satlllue aq} leql (q) ^tr)ede, :srau,olsnf, qfns ol Alllultrala lo ilddns aqI lol sJauolsnl sl!

uo4 sa^relal VSOI leql rlu3urled aqt uo fuuaJedsuert pue ltlrep sl araql leqt (e) I9r09c89ait.L -t (PV tuaurPuauv etll u!

pepnP0 aq of) 5luarunfoo lunorf,v 'z uolpallof ---- I I I I I !

I aqt pue tunoIv uolpallol aql SururElurEu, pue 8ulqsrlqElsa ol pallluruol sr lsog (r) :arnsua ol uralsls luauja8eueuJ r,ioll qsel rollas 'ssld!ru!rd tunoDV uo!
]lallof asaqt qt!/t,\ aluepjolr€ u|lso5 rlq palurodde aq ol (,,fl.,) luaSe luspuadapul ue iq paratsrurupe aq ot Luals^s tuaujegeueu ^\ol, qser ropos puE (,,lunoJfv uoltrallol,,) auoal erars ur tunorle uoDlallol apu -lollas ll!l!4tala ue Jo uollerodo pue tuarxl-lsllqelsa aql JoJ (,,sBld!f,ulrd lrrnorlv uolpalloJ,,) saldDuud lal ulellal ale /dolaq fno las (q) sratler!

Ile 'ol uoltelar Lr raleu uorsr3ap aleurlln aql st pue 'loJ alqrsuodsa, s!
lsog (e) 'roDas Al!rlrlaala J,auoal e.r.rels ol 3u!uleuad ,vta!Alano pua uollfnportul 'I surral lralqns j laaqs rural - lunof,3e uorl3alloo tol3as Il!f,Uloole auoa-l pJa!S z atnxauuv -=> .N i s/,'tel iq I rllr,,!i arueproJrl: ul 5solord luaredsLlerl pue reall e dola^ap Iletls vsof p;;;r;;[ 'sarl]Ed prlql ol pd41c suolleAtlqo lgtlutludprluo, I Japun Sursollsrp ruo4 palua^ald s!
vsol pue lsog aql qrlqM uolleuuojtrl ltlP ol s.alf,P ' ;aeq lou etls sra^rasqo leuolllppe lue prle tra^.rasqo aarqt aqt '6 uorllas tltri aJuep.rolle I r.,, 1r"*n1"ts uollelllJuotri)u telruoulj aql ur papr^ord aq ol uoee!rroJU!

aql Surllrull lnoqlll1 aa111!'.

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lerll ranJasqo arlr Jou srarlddns aql EulluasaJd3r Ja^rasqo i,rl) tou).ra^rasqo tuapLradapLll i aq] 'pue /,lqeuosspJ 8ultJe pue qlej pooA u!

sJa^rasqo aarqt aql lulodde lleqs lsog aql lauueui AJaur!l e u!
speu are SluaruaarBv llddns aql , rapun stuaLu^pd arnsue ol VSO3 ol sellualn, u8larol tue^alo] irpr^o.rd ol illroqlne i'tso9 I'ue pue (r,lolaq paqlllsap se) lueg lunolrv Lrorlrollol aqt'VI aqt ql!,!1 Sursrprl (Ar) pue llu?uraa.rtV Vt oqt ro suJJal aql tlllr.l aluEp.lollE ul Vl aql Sulsl^Jad|s ( ) :(,notoq 5 Lroqlas u!
poqUlsap se) ta8png Jotlas s.vsol Bu!^oJdde pue SulMar^ai (r) :(r,\olaq S uo[ras ur paqlrtrsap se) la8pn8 3ulreJado S,VSO] ,ur^ordde pue 8u!^ier^ar '(r) :ro, alqrsuodsaj aq Ileqs aa]]rruulol aql {,,aaUluurof,,) ((Jo}eln3a!o uoltntDsu!
alueu!, luauldola^ap e se qrns) uorlnlrlsur leuolleuralul ue uro{ auo puE va!lddns Sulluaso.rdar ouo'tuapuadaput auo) sla^Jasqo aajqt {a} pue VSOI lo pJeog (p)'lUMt aql (r) I '3on (q) 'ollon aqt (e) LUorj sa^llelussaJdal 8ulslldr.uot aauturulol e qsrlqelsa lllM lSog eqI I a.llluruol (p) l r '(,'f,u/n3,,) , ropas Alllll]lala aql ro] olqlsuodsor ro5selrns Aue pue salllras raleM pue llDlrllata Jo I uorsr^old aq] aleln8ar ol Iroz 'llv uolssluuol lJotelnaau raleM pue r(tDDpall auoal ei.rars i aLll ol luensrnd paqsrlqe)sa uolsslruLuol AJolelntau rale^ pue ilDul:tall auoal e-uers eql luM:r (r) '("vsol") llllua rossallns /'uP pue auoal p.ralS,o lno lllr!ltrala 3u!uodxa roJ pue auoiil erja,S ur (leulsnpu!
pue lelrreruurol I 1plluaplsaJ) sJauolsnl-pua eql ol trIr.rpala Eurllas (q) pue sJerlddns pue sjarnpord I /elrulrale uro{ ltoulrola Sutinq (E)lo} alqlsuodsal ilrlua uollnquls!p llotnlels aql 'IIOZ'trV , AlDupall leuorleN aql ol tupnsind paqsrlqetsa /,lddnS pue uo!lnqulsro lll)rrpalf aqI ^luorllnV Vsor (q) I ruau,dora^ao rlruo,orr pue arueuu ro,(,r.,,,k':frlrT,,",HI.f;llTl]#lil..l'"i,';i,,1il3;l I tsog (e) ',,sluaurnroo lunorf,V uolpallo]., aql sp ot pallajel lla^lDallo) aJe luauoarBv gl pue tuauraar8v VI 'lenuen suolterado 'llv luorrpuaulv aql (q) 'saldDut.ld lunollv uolllallol asaql qllM aluepJo)re u!
,are) qlea u!

lunof,lv LrorlralloJ aqt uroLl^1 rllM lueq aql qllrvr tuaruaaJAE ue olut eullalua (p) '(,,tuauraattv A),, aql).pau!elu!e!u aq ll!/r pue lsuotlnllsut 9 91096ts9€/t t --l I I I (sTuawnToO luno)Jv uolJ)e o) eql u!

papnpu!

aq o!)
papnpu!

aq o!)

sJaploqalels AaI - sluaurnroo luno)rv 'g uolDallof I suJJaI lla ns q ,,..>- \$\ I9.109689e/Lr ; qi,^, ,0,1d,.t,o: vt "qr leq*rnrord o] srn"^""0r" o,o;rort::rt"';1H';J;iHl;iH::lXirl '0:lJol l pue:1ue8 tuno)trv uorlrello] a(l q:lr/'r\ uorleJoqellol ur sa!luornl (SlaJoJ lur^i,lar a(ll olur (.,-l-|s,,) sauoal upJUoal cirals lre^Llor llerls Vl aq] irA) pue :^1olaq it uolllas u!
lno las llelralpM luaru^cd aql Llll^,\ alucprorlc ur 'sluauaaJEV Alddns 3ql Japun alqeled pue anp sar!o^u!lue ,(Bd ol alqelre^e ipunJ qtol aqt lq qluorl, qlea roJ (,Molaq aqt aulLuratap ol rlluoru tuanbasqns qrea Jo 6 uolllas ul paqr.Dsap sB) luauialels uoltelllluolau alueurl aqt dn r elp lleqs Vt aqr (A) ^ep l^lolaq t,I uorlras u!lno las lteltslei tuau^ed aql ql!^l alueprortrc u!

slunoue lue Jo sluau ed 3ulpnllu!


'sluaunJoO lunollv uollrallof, alqelrldde aql qllnr arueprorle ul tunoflv uortrallol aqt ralslullupe Allereual llrv\ Vt erll (Al) uorlri, ol aql otu!

rlrulo e /,ed o!

uolle8ltqo Jo vSOl pue olJot J sau!

:ou vt aqt (!!!)

:lunollv ^ue :(^1olaq , uo!

)las ul pau!

}ap se) s)unollv taqto u.r04 sluaru^ed BuriolUo(u,(q Surpnput lunorlv uortlallol aql otu!

(.salqe^lalau Vsoj,,) srauotsnJ s,VSOl ol Allrljllala Jo ales aqt uro{ sanua^ar s,VSOl lo lle s^ed Vt aqf (!!)
isjerlddns aqt pue VSCI 'tSog lo luapuadapur 'ltred prql lertnau e se spe y1 eqt (r) :tuauJaarBV Vl aql Japun suo!te3!lqo 3ulrv\olloj aql a^eq ll!.v\ Vt aqt leqt arnrord lleqs lSog oql 'luauiaarSV Vt aqt ul tno 1as se saDnp Vl aql Sutlsuapun Jo, alqrsuodsej aq ileqs aaDrutl] aq1 'luouraal8v Vl aql iapun sal!ruas aqt 8ulpl^oJd lou sr Vl ue oull ue te Jl '{a)E uoDras slr.ll qt!A aruepJolre u!
Vt tuaulaf,eldal e lrala5 o} ssaroJd tualuaJnJoJd e unl lleqs 'lSoO 'pa^ourer sr ro lu8rsar VI ue I Jo arldxa ol enp sr Vl up ro luaurlurodde Jo t.Urel aql ll .sallred pJllt lo Jleriaq uo , , slunollP pue srr.olJ qsel Jo luaurareuetu aql u!

aluauadxa Joud rlll^l '3uoa'l e.uals u!lJels Pue ' alrr]o u?

qlru\ pue alndar leuolleuralu!
ro uorlnlosur alqelndal pue alqlpaJl e aq lleqs Vl aq_l luiwaalBv Vt aqt rapun vtaql lulodde lleqs ; pue ssarold uolpalas a^ltrtaduor pue lualedsuel e ol luensrnd vl aql paFs lleqs lso9 aql I i i ssaJord uolle]lpaJrrv aql qtlrll elueprortre ur palrpajrre uaaq seq Jalddns mau e uaq^l srattddns raqto aql pue Vt all Alllou lleqs aatlrurluo:) aqa u (a) ^\.u Alau aqt lq papr^old aq ol .ra^lod Jo eql ssassp ol s/uat^a., aJnpills Jluet (p) pue jlalreu aql ul.rsMod lol pueursp lualtljlns e st a.,3ql Jaqtaqrv\.lo luarussasse aqt (tr) ^lrltqepJojJe 'slsor loDl Burpnllut 'larlddns I I lrarlddns /nau i,ql Aq pallddns aq ol raMod alenle^a ol ltl]edel lualitJJns s!
eJaql JaqloqM auruiralap ol lt!redel uoltnqrjlsrp puE uorssrursueJt .lo luaurssasse aqt (q) :910i 'lrv luaua.rnrord rrlqnd aql (eJ :ssarold tro!lel:pejrrv aqt ur palf,alJar pue pas!uSolal ale slolleJ Suuv\olloJ aql teql aJ|isLra 1leqS y563 pue 15o5 aq1 -9102 ']lV luaLUarnloJd lrlqnd aqt ql!/\r alueprolle u!
lno palrlel aq lleqs lua,luarntord lle 'tul talut e,.lt ut (,,ssarord uoltelpBJrlv,,) lunoJtrV uotltrallol aql ulo.rJ llteurled lol alqtSlta sirued pue tarlddns aql pue lunoltv uoll)allo] aqt u.toll apeul aq uel sluaul^ed LUoq^1 ol sarlled pue srarlddns a^ouar ro/pue ppe ol raqlaq/\ ourutJalap ol aallt(utuol aql lol auoal pllatsJo stxrel rr"lqns I I I I I I I Subiect Terms F. Collection A..ounr B,nk (a) The Collection Account will comprise of two accounts (or sub-accounts): onei United Stntes Dollars ("USD') and one in SLL.
lt will be nraintained v,/ith the Collection Account Bank, which has: (i) (ii) a retailbranch in Freetown; and the ICT platform to execute payments.

(h) accounts or sub-accol.lnts in other currencies nlay be added as a d when a requirement for such other currencies arises (e.9.

as a result of a Supply Agreement corning into eflect in a currency other than SLL or USD).
I I I (c) The lA shall procure that the EDSA Receivables are collected and deposited with the Collection Accourt Bark- (,i) The lA shall be responsible fo.

converting sSL into USD iand, if appli.abl€, other currenc,es), as required to satisfy EDSA'S payment obligation5 to Suppliers.

(e) fhe Collection Account Bank shall be a bank ior be a whol!
!, orvned banking subsidiary of sr.rch bank) having at least tlvo of the following three rarjngs: I I (i) (ii) (jii) a mininrum "Long Term Foreign Currency lssuer Deposit Rating" of "A" from Fitch Ratings Ltd; a minimun] "LongTerm lssuer Credit Rating" of "A-" by Standard & Poor's Financial Services LLC; and a nrinimum "Long-Term Bank Deposits Rating" of "A1" by Moody's lnvestors Service, lnc {f) lf the Collection Account Bank's ratings suffer a dolvngrade such that it no longer nraintnins at least two of the three ratings set out in paragraph (e) above, GoSL lhall procure that EDsA and the lA tr!nsfers the Collection Account to another banii ha'./in8 a retail branch and/or a licensed bank business in Freetown which: (i) (ii) has at least tvJo of the three ratings set out in paragraph (e) abovei o. has the highest ratings amongst the banl(s in Freetown, and which, in the Comnrittee'r reasonable opinion, has the most appropriate technical.
financial and personnel resources to perform the functions of the Collection : Accounl Bank, provided thaL where the Collection Account Bank has the hiBhest rating amongst the banks in Freetolvn, this paragraph (f)shall not apply.

4.

Establishment and activation of the Collection Account (To be inclltded in the An'tetldtnent Act tle a,td Operotions (a) The Collection r\ccount shall be held by the Collection Account Bank on trust for each payment beneficiary under the Payment Waterfall in Section 14.
The Collection Account shall be operated only by the ln in accordance \,Jith tire Operations tulanual a,rd the lA ngreerrrent.

GoSL.

EOSA and the Comnlittee wiu give appropriate delegated authority to the lA to perfornr its duties under the Operations Nlanual and i the lA Agree,Ient, including managing tlre Collectiorl Account.

Tlris delegated authority will be included in the Amendment Act.

l (b) GoSl and EDS.A shaii.


procure that all of the EOSA Receivables ;rvailable ii EOSA'5 banL 11/368950i6 6 1: --*.$\ EL I 9109689e/[ '^lqeuoseej tur'l)e pue 'qlrpJ poo8 ur 'sal!lle/d Atrt!tn tuaplrld q1!rv\ aluepro:De ,r!

paJeda./d ale laEpn8 eulleJado arll poe 133nnB rolres eql tPtl'l arnrord lleqs vsol {P) -spouad 8(lluro)dn aqt roj ta8pnq leuorteu s,lualUur;r^oB 3qr u!

papnPu!

s!

(laaqs ullal slql lo sued raqlo pue 9 uor]las u!


paqulsap raqtrnj se) ]!r!rao rolras pallolord lue^algr lue leql aJnsue ol alelrdordde se sraquau aalllnrurol , raqlo pue fSMl aqr '3or1t 'oljol t qlr asrelr pue ]eal qrea raquoldas o€ lq .

133pn8 EuDerado aqt pue la8pnB Jollas aqt e^ojdde pue /\ at^aj lleqs aa]llu-rruo] dq1 (r] (a) SuFlolloJ aql Jo qrea JoJ slseq lenuue pue lpatrenb ',\HluouJ e uo selqp^ralau .

vsol pue sasuedxa tseiaro] lleqs latpn€ rotlas aql pue la8pn8 Bu!terado aql lo qrel (q) '1 uo!
)las u!

I!elop aJour u!

peqlrlsap se'(,,la8pn€ 8u!

]eiado,, spearlra^o raqlo pLle slsol Srrllrunr 'sluauj^Pd lelual ',selrPles se qJns ',slsof lllM qrrqr"taBpnq e.rn puedxa ue Suuerado leuratur s.vsol lo lle ^]llads u!
lrerop aroru u, paq,,rsap se 'ra,pn€ ,r,111:':t':,'::jllt']Tl] Burlerado leuralul s,VSOj pue'salued pJlql ot stuaurled fuessalau raqto lup'IUeg lunorlv uollrallol pue Vl aql ol stuel.uied 'siaIddnS ot sluaur^ed papaloJd sll pue salqe^ralaU VSOI 3ql IJoads llrM rll(l^\'lsef,aroj rvloU qsel p (rr) (rl I I aql 'rea^ qrea lsn8nv It Aq aaulururo) aql ot luJqns pue aredo-rd lleqs Vsot ie) :sta8pnq 3ulrllollol ^rolle 'sLUalsIS asaql SurluaureJclrur i .raprsuor /,eur Yl pue aaluwruof aql 'anp slunoute luaurAed lo uorleBaiias pup SultIq suJals^s luaru^ed pasualndwol 'at!
!l Ja o 'leql luaua aql ot 'uolleltetsu!

I lurof ralaLu pue (orlrauuol ol palelar sluaurlpd pue .tu!l!o^u!

Luorl palegar8as are saal uolDeuuot pue slalau 5e qlns suJal!raqlo roJ sluau ed pue llunortrv uolpallo) aql ot palnor.ro ol apeu aq ol are qllq,u stuauled,o lladsar url /.tlrlrtr'ala roJ sJaurolsnl 'Luo.rj sluaulled Surllnsar aql puE 'ol 3u!l!o^u!
arnsua lleqs vsol pUe isog (6) JO SJatAru lo ales aql (il Bulelar spaalojd a^ralal tou lleqs lunotr-av uoD)allol aql tl) lueq ale.redas ulelu!eui lleqs Vso:l rll!q^1 roJ saal uoll)aruor _ilunorle 'auJl] ol alul] Luo4 ]unotrY uolt)allol aql otu!

Jo ates aLll uo spunJar xet ro 1S9 lue osle llr^1vsol (a) ^Ilupala 'slseq llIaa/l/t-!q Jo lllaallt e uo lunorrv uorpallgl aql olur'{aq leuJ asel aql se) uaql lq pa^ralar Jo'^q alqetred spaalord lle relsuerl ot VSO3 lq 3urlrJ/n u!
pallnJlsur pup parl[ou aq lleqs Ilr]rrDaF Jo ales eql JoJ stuaurled-ard Burlpueq suo!lnlllsu!

pue queq 'sraurotsnl Jalau AEd-aJd/led qsel (p) ^ed q)ns Euualsrrrurpe lo slsor arqeuoseal aql ed or 5uolllnpao nr" ., ,rnro"tt'l]l]lllJ uoqtallo-1 aqt ol palralsueJl aq lleqs slunolre qlns ur pausoclap salqp^latau vsca lle leql Aulparp'ppq are slunolle tllns qftqrlr ur slueq sqt ol suorlrmlsur luauled alqDo^a.rj!

anss!
anss!

lleqs VSol'(.,slunolrv raqlo,,) lunollv uorpallol arll ueqt Jaqlo 'VSol nq plaq slunolle lueq olur plpd are salqe^ralau VSOI lue leql 1t-ra1xa aql o-1 (c) 'tuno)rv uorlralloJ aql ol slseq il)iaa^l-rq ro ll)laar'^ e uo pera]suerl Allelrlpu.rotne aq llrM slunolre a-r", honuot !

suo!p)adO aql puo ltv luarrpuawv aql u!

papnpu!

aq o!)
papnpu!

aq o!)

slagpnS s I I UonuolN lraIqns I I I I ---\-, --\N..' tl ^ue lBuorlrppe )laas ol p.rnb?J aq lleqs ollor{ 'llluao spalold laSpn8 lolras aql lt {l) '1lluao aql punJ o] laBpnq lEuo!1uu s,luaururar,o8 aql ur spr.

[I 'rEaA lualard a!11 roJ aallrurxo:r /,q p.^oJdde ta6png rolras rea^-€ reari roljd aql asn lleqs Vi aql 'paslleurl uaaq ]ou seq Jeal luarrnl aql JoJ laSpnB ,ol)as /\ eu eql leql lua^a aql ul JeaI Au!^lollol aql u!
uollerlldde roJ vt oql ol tatpn8 rolras aql apr^ord lleqr aalllurllof aql (a) lualuua^oS aql pue .ropas aql Jo 'urnluenh Uoddns r(Jelauou ler:rueuu aql ssesse ol lsrsse (u) ^Itlqels pue jqluou lepualel qJea ro, (suralr aull llEllale^\ luauiled) sauoSatelqns puE salroSale) asuadxa oql lle ,v\o(ls Atrealtr (!)
:lI^1la3pn€ JoDas aq1 (p) | 5 uoDlas rapun latpnB iollas aql ajedaJd 01vsol lq pasn aq 'ta3pn8 Surlerado i aqt ql,r .,aqta8ol 'llr- (q) qderBered ut ot parrolai stseroro, real ia) eajql at[ (r) sluauraarBV llddns d^!lladsai ?ql ur roJ pdpl^ord sasuadxa J!or,ll Jo lloBalel qlpa Jo )ladsEJ rrt sluaurled q8norqt-ssEd lle Burpnpur 'stuaurled qlns to lselajoJ Jeal {E) aaJql e qll/t1 VSOI pue eauluurol aql apnord lleqs '(,\ olaq ?1 uo[3as u!
lno les) llerraleM lua(u^Pd aqt ulql^\ llej sluatuled q:!q^^ 'sluaLuaar8v llddns rapun vsol r.uorl anp aq eu stuauried L!oq^1 ol ra!,ddns qlea leql arnlord lleqs VoS3'Alnt I€ aroJaq real.qrel (q) 'Dosn sa)!pu!alud pue 5ater oBueqrxa u3!aroJ paurnsse 8u!pnllu!

'suoltdurnsse lai sapnpu!

lEql uortdursap uallu,' c Aq paruedruolle pue OSn pue lls qtoq u!
patuaraJd aq pue juorlBLuJoJur aluep!na punojBllpq se elep le8pDB Jolfas lenlle snsia^ pat)alord lef,r.rotsrq Jo sJeal a ,(q ipasrlea.r uaaq seq pJora.r llerl rea^ E e !e uoos se) parucdruolre aq :{iue Jl) l!

)UaO aql Jo }seloroJ e epnllur :ropas AlEr.rl]ala s,auoel eJJerS ltralJe ol lsetraroJ sr qrlqrvr iflllqell ro lsol raqto Aue apnllu!

'!3ulqt raqto tsBuouJe 'apnl)u!


ol 'srslleue :Islr anua^ar pue Isr., Xl'lsr.r olud lanJ e lq peruedLrJotf,e aq ^lr^r'Isuas <lr ruor, llarol or slradxe vso3 leq) sanua al aql , ,r*-*'ltlo',]ili :(,,Vdd OOd,,)VSOI pue loteJaua8 pau/v\o lllellqnd e uaaieaq luauraor8e aseqrrnd rarnod Aue Japun paseqlJnd Ja,.,\od ol uorlelar ur rolerauaS pauMo llelllqnd lue ol sluaurlEd lo tselalol e apnpu!
:sluauealEV llddns aqlJo stu]al pue suoltdurnsse uo!lpllut pue slso, tan]'suollrelord pueurap uo paseq sialliJdns aql ol anp (stuauJ^ed lanl 'alqe)ldde lr 'pue) siuaurled IlDeder ro/pup lseraro, e i,pnFu!

^8raua.ro sraltddns lq papl^ord stserejo, aql pue laEpn8 8u[erodo s,vsof l]auar :Molaq (q) qdprSeJed Japun (xl) (!!

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{!r!)

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(!)

I9209589t/r.I I I (tDnuoN suo!tuadO aql puo pv lu?wpuawv aql u!

papntrut eq o!)
papntrut eq o!)

:lltr^ lo8pnB rolras aql reql arnsua ll!^1VOSI (e) laSpnB .ropas'9 ,.ur"t i I lla[qns I 4> .N'' ur l.,sa5ror,ul, aql) :allo^u!

,sronddns lo llloulled all] lol sallnosol lP!

:)ueuU olqe[e^B all) iurr.uralap ot atqlsaod lt aleul tleqs luaualE]s tro!

]ullrltlorau afueull aLlI (q) ,lll .roJ lua,ualels uollellrruorau aJueulJ aql dn Aerp slseq Alqluotrl e uo lleqs vl aql (e) ^ep 'qluor!

qleo lo ol uar lq qluour qtuoru tuanbasqns arlt io alrl) luaLlrled oql ur papnFu!
aq llr^\ I i prre qluou.r leql Jo Jl)Ar tu.rur^ed aql ur papnllu!

aq ]ou ll!/!^ (e) qdcr8eJed ur pou.d perilrods Eql]oue pall!ruqnJ ore lerlt sallo^ur lue lEql ephold Ile(ls luauror8v Vt aq1 ()) lpnuelA suorleradO aql ql!r,l arupprof,lp u!

aJlo^u!

, arll lo luaLu^ed aqt ornJord llr/v\ Vl aqt'qtrlltM 3u!l!el 'el!o^u!

ue otndslp ro a^o.rdde ' Jaqla ot seq VSOI qrlq,^{ Suunp pouad auirl aql llEads lleqs luauraaJ8v vt aqt (q) 'tuaruaa.r8v llddns alqerlldde aql qll/n alueprolle u!
qluoru r.llEa ,o pua aql ]o pouad I paullads e ulql/a '(sluaurnrop 9uluoddns qur$ raqtaSor) Vt aqr ol paldol 'VSOI ol arlo^ur ue anssr srallddns lle leqt oJnlojd ot sJno^eapua alqeuoseal sI!

asn lleqs Vsol {c) I I I !

I I 'polrad alep-o]-jeal BurpuodsarJof, aql pup lalrEnb snor^ard leql roj sasuadxj Surlerado pala8pnq snsJa lenjle ro uoslreduro) e lq palueduorre 'lagpng Surlerado aql ql!/!r af,uepJolrp u!

rauenb sno!^erd aql u!


paJ.rnlur sasuBdxl Surt?radO aql Jo preoq S,VSOj Aq pauBts aa]l!ruuof aql pue Vt aqt ot atErUIUaf, e apr^ord lleqs VSOI 'rauenb qlEa Jo pua aqt Jerje slep 09 ulr.ll!^A (q) srarlddns ol sluatuled pue f]gl lq po.unl !

sluallJlsa^ur r.rolssrrllsuerl (l!)

(!)

,(,.sasuidxf eulleJado,, oql .laqlaBol) pue :VSO3 lq parrntu!

quatutsa^u!
quatutsa^u!

uollnqlJtstp :apnpxa lleqs lnq '(ttgl Sulpnpul) sJosl^pe Jaqlo pue srorpne 'losunor lega'jo sasuadxa pue saal alqeuossar 'lunor)V uoltrallof eql qllrtr uolllauuor ul parrnlu!
pue Vl €rll pue :sJatuasqo aall!r!ruol luapuaalapu, etsrqt eq) 'lue8 lunolrv uortJallol aql Jo sasuadxa pue saal alqeuose?r isaal s,fuMf puE VlgS 'sluaulrultuo] alueualuleuJ 'slsol alueuatu!eui pue Sultejado 'speaqJa^o iaqlo pue stsor SuluunJ 'sluaurled leluor 'sauelc5 se qlns 'slso2 Surlerado lpuElur lselerol s,VSOl {!ll) {!!)

(!)
(!)

s]l.lJar ta8png Surle.radO aqt terll otnsua ll!/r\ VSOI (p) 'polrad alep -ot-]ei,l Surpr.rodsalrol aql pue raUenb sno!^ard teqt ro, iunoure pala8pnq snsra^ lenl]e Jo u05ueduo) e Iq poruedurotrle 'la8png rorlaS aql qlr^,r aluepror)e ur Ja)renb snor^erd aql ur pe!nlur Jo pa laraJ'ta8pnB rolras aql ql!rv\ aruelldu,ol Surqsrlqelsa Jo sasod-rnd aql rol par!nbaj slunouJe raqlo pue sasuadxa lcuJalu!

'sasuadxl Surlerodo aql'salqe^larau vsol aqt ]o preoq s,VSOl Aq pau8rs aal]rLuuiol aql pue Vt aql ol alert!
!atr e apr^ord lleqs VSOI 'Jouenl, qlea .jo pua aqt laue siup 09 u!qr!M {q) 'lrrUeO papatord aql ot sa8ueqr lue olJoW (3u!lu/vr u!)

llDou lleqs VSOI '(moFq ,I uotllas ur tno 1as) llelJaleM luaurled aql ol sra!lddns Aue ro uoltrppe aql pue taFpng rotlas luaJJnl aql u!

lseraroJ asoql o) paredurol slsol q8norql'ssed u!


uoltelrea luer!.IuBls iue 'sasuadxa Areu!proerlxa iue ]o ]uaurled aql roJ lunolre ol taBpnB rotlas aql asr^Br lleqs VSOI le^ordde rlaql rol aalllrutrlo] aql ol rallenb q)ea Jo pua aql le la8pn8 .rolras aql]o rrolsra^ pashar p apr^oJd llpqs VSOI 'parlnbar Jt {3) ^1au E 9109689t/r.l f; papnpu!

aq ol) luaLralels uo!le!l!ruotru 3ruPrrrl llqluol,\l '6 I (lDnuDW sttoll ealo eqt puo ))v luaupuauv ettl u!

pepnpu!
pepnpu!

aq ol) vsol ol 3u!J!o^ul '8 I I (pnuoW suon ado aql Puo lrv lUaWpUaWV atll u!

papry)u!

eq o!)

SulleJado laSpna 'L I I I suJral palqns N it l!

lsqt slurloru!
aqt puE d)!o^ul qrns alndsrp 01 saqsr&1 vsol lcql rirlddns lue^oloJ i,ql I pur aauruturol aqt 'vl oqt ,tJnou lleqs vsol 'lualuaaJSv llddns [lP^ala, aql Jo 5(t ral ' aql ct lrrlqns ']ua'.u^erl ro atep anp slr aioJaq slro^ul ue a]lrclsrp L\ s.rrlsuvr vsol ll (u) 'lunorlv uolDallof aql otur allloN rllljao o3lohl aqt ,epun pallltolr os lu[ou]€ eql lcd rarlloN tpljaO Oljo!\ aql 8(r^raror Jo s^ep ssaursng (OT) uar 'rlrlllrn'lleqs Ol:jof ar[ (tr) '(.,arlloN u)u'o oglot^l.. e) alltoN rlrUaO Vslll oql o] luenslnd lunollv uolpallof, aql olut led lou plp vsol leql lDllao aql lo uol odold aql led ol ollott 8uulnbar ollot otll ol arllou ualltr/ll e ansst lleqs vt aql 'alltoN llluao vsol aql 8u!^!alal Jo slep ssaulsnq (z) ori\t ulqtlA tunolrv uortlallof aqt olu!tlluao aql ol lenba tunous Ue pred tou seq VSO:,t (q) '(,.arlloN uruao vsol.. ue) tunotrlv uortra!lof aql otu!
tllllao aql led or vSOl rsanbar lleqs Vl aql pue aatlururol aql pue oSjohl 'paJ€dard 8u!aq tuauJalels uo!lefltruorolt leDUeu!l .ql Jo s^eo esau!sna (z) o/fl utrllt^r vso3 ol l!l!rao sql Jo lunoure aqt (Eu!lu^\ u!)
IJ!lou lletts Vt aqr'(.,Ur!rao.. e 8u!aq aruara.Blp aql)saJo^ut aql ot luensrnd srarlddns aql ol Aed ol parnbar st VSO3 tellt rlunoute aletartte aql ueqt ssal ale tunorlv uoll]allof aql Jo I l!pal] aql ol Surpuets 9pL,nJ aql leql salellprrl luauralels uorlertlruorau alueurl or.ll Jl {e) 9 9.t09689€/t r. u!

papnpu!

ag o palndslo $unoure 'II (pnuDN suo!N!ado aqt puo tlv luaUtpuautv aqt u!

papnpu!

aq o!)

lprsqns oflotA utr!


]ao or e qllr'r s.rarlddns aql aptiold lleqs V, aql 'tuauratels uoltelllruolau alueull q)Ee Jo ^doJ 'qluorrr oql roJ luaujalels uorlellDuolau aluPuu aql plre lunorf,V uollf,allol aql rol sluauralels lunolre Iueq ql!r'^ slseq ilqluour e uo oaulul1ro:t aqt ap!^old llt/$ Iupg lunottv uortrallol aql pue vl aql {!!)

(!)

's.r.rlddns Surlsrxa Jo te^oural aql Jo/pue sJallddos Mau iue lo uollpluUoN (!!
!A) :3url.,odaU uals,(S tunotrV uotllallof, la) s!seq llau!l e uo VSol Aq panraral 5p^1 al!o^u!

ou Ullq,r JoJ lnq sJallddns lq patrlo^u!

3q ol pata8pnq/tsplalo] araM leql 'ale8aJ8tle ul 'slunoure telot aql OI uo[tras u!

peuuap se) ]!r!lao aql '(pa^losar salndsrp ueq] raqlo) vSOl Aq palndsrp slunoue arl!

llue I) ,(.

(oFq 'salluoJJnl osaql u!


lepl ssolS e se lla^', se ,OSn puE ltS ur uoBe8rlqo tuale^rnba oql Jo tuaruelsts e ql!,M {-rla 'OSn 'lls , a) anp aje stuooure ql s qlrq^1 ut soDuoJlnf, oql pue (patndslp sl palto^ur Jo paUrlou lunorue lue JaLllaq^ lo ssalpreEal) lanJ pup AIDllpala lo uols!^oJd aql JoJ VSO] ol sJarlddns lq palro^ur 'aVtaJ?Ae ur 'slunoule lelot aql 'lunoltv uo0lallol aqt ulalqele^e spunl lelol aqI aqt olur paJJaJsL,eJl pue s:unof,fv Jaqlo aql otu!

pted stunoue aql 'qluor!


leql ro] salqe^larau VOS3 .qt Jo llrnoLle lelol aql 'lunol)v uorltallol (l!^) (!^) (^) (^!)

(!!!)

{!, (!)

:apntcur II/l'\ luawolels uolletlruolu8 atuEutl llqluotu qtEJ (p) uo[ell!

]uolau alueurj ltqluour aqt dn 8ul^1eJp Jo, AU|lqtsuodsar alos sreeq Vt aql (r) 'sello^ul aql uo Paseq luauslels .
(Molaq tI uorl)es ur lno las) lleJr?te^ luauied aql ullno las slueuied Jo ll!.toud arll qltM alueplolle s(U.raI I I (lonuDlN suolt ado aql puD ttarua bV Vt aqt t- l.alqns I I I I I I I -.r+- \N.

!l I !rl0963gE/I I , qt!^r '(ituorrC tsar.rol 3ql (x, pue Atuorjd lsaqBrLl alt) ?ur^l|q (!)

ql!r,^j Aluoud Jo rapro Sur,nolloJ aql rllrA,\ alueprotte u!
sluaLuled Surx\olloJ aq) alettl ol IueB lunollv uonJrllol aql ltrnrlsul lleqs vl aqt 'qluouj qtrea ]o pua aql retJe s4ep lllrtll trtr.llr^/\ (P) Iuatu^ed llepalen^ '?I I I 'slutsrlear3v llddns aql ot lucnsrnd par!nbar pua: alqcrltdde ataq^l 'sa!ruaJrn) utJlaroj u!

srarlddns aql ]o saf,ro^u!Jo luau^cd pue luauralllas aql (t ) pue :salllrallnl uglclol ,llul -lls.lc trolsJo^uo,] irtll (ll) :sirDtlarJnf, u3ia]oJ ur satruelEq lunolle Iueq pue 5lunolle lueq lo a-lueualureul aql (t) :llurad ol arptd u!
ale sle^o.rddE fuolelnSar pue Ie8el lle leql arnsua ol auirat crrars lo )iu€B lerlual arlt pue Vl eql ql/r\ ateulProor osle etls OlSot l aql 0) ^q 'ralrenb turMolloJ arll .ro, sluaul3Jlnbar Aruajinf, u8laroj pallaloid 5t!

ol suolsr^al Aue Jo 6uoa] erals Jo lue8 osle lleqs oljoht aqt '.ralrenb qlea Jo pua aqt lv sluauarlnbar lertual aql ^Jllou .

{ruerrm u8laJoj aqt Jo are/lle st euoel e-Irars }o lueg lertuaf aql leql arnsua ol qrlqi u!
se!f,uarrntr aql ur stuouraar8v Alddns aql jeal Sur.lolloj aql roJ anp a.re ^oqt rapun stuaurled 8ullaatu Joj quaruar!nbar llualJnl u3lalo] pallaloJd Aue Jo auoal erJals Jo luea lerlual 3q1 lrrlou 'rea^ qlea lo Jaqualdas o€ 'lleqs ol:low aql (a) 'lUPe lunollv uoll]?llof aql ol alqel!e^e apeul ; s!

slunou,e tualrulns u!

lluarrnr u8loJol lue^alal aql lErll arorord lleqs'auoal eJJalS to lueB lellual .qt q8noJql 1So9 ueql'sJallddns slr ol suollESllqo luauJlEd s,vso3 taau 01 tuaDrlJns slunoure u!
auoal eJrals u!

alqelle^p lou are ralruaJrnl u8!aJo, lue Jl (p) -luslueqlal^ xarol I .

-ql l.ll!,o aru"prorrp Lr!

tElieui a8ueqlxa u8!aro, leuolgar Jo lerol aql uro{ salluarrnl !
u8ralol lue^olal oqt suretqo lueg lunollv uoltlallol aql teql aJnlord lleqs Vl aql (r) i I s,vsol sarnpar urslueLlsan xerol eqt teql'alqrssod luatxa aql 01 'arnsua lleqs vl aql {q) ^trualJnr u8larol luE ol arnsodxa s,oflot J pue 'slsu '(,,ujs!ueqlai{ reiol,,) sluaruea.,3V,(lddnS tue^alat aql rapun tuJru^ed Jo sarluarJnr snoueA aql olu!
lls aql lre^uol ol pollletU lrraledsup.rl i pue paar8e-aJd e asn lleqs lueE tunorlv uonlallo] aql leLll aJnrold lleqs vl aq1 (r) luno3lv uollldllol a[D uJorJ pled aq ]ou llpqs I (It!l!le] 3ulterauaB llrl)ala aql Jo rolsuejt Jo) tuauraar8v Alddns e ,o uoueururral .ro I furdx?
uodn sale!lrre ro sraploqarpqs'sjapuel slr ro.,arldd S e ol alqe^ed pue anp ore I qrtqr'r (paqt-rrsap Ja^aos,ry\oq) alud tnolnq ro rajsuel ]o sluaruled uoBeuruuat luv (q) lusuraeJ8v Alddns I i lue^alal aql ql!/l aiueprolle ur alqeled pue anp are qr!q^\ sall^ras jo uols!^ord j aql or pa1e1a.r luaurlpd Surpuelslno lue Jo pue uo!

]pulLllra] Jo atep aqt 'uoqeur(ural ] rlrns lo vt aql A]ltou AllduroJd llpqs vso3 'pateulLural q luauaer8y llddns e lt (r!)
I (r"\olaq Dr uorllas ur lno ias) lle}aleM I tuaurled aql ur paqDads se sper!

aq llr/$ tunoure palndslp aql Jo luaLulpd 'rallddns ; agl Jo rno^p, ur apeuJ uaaq seq uolleuruJalap aql leqt tua a a(ll ut 'alndsrp aqt ]o I uollnlosal uodn 'luaoaarBv llddns aqt ql/v\ arueproDe ur atndslp !qt lo uoltnlosal lllun lunoure palndsrp Aue led lou lleqs Vl aql pue elro^u!
Aue Jopun slunoule I parndslpun lle ied lteqs vt aq) 'luauraar8v i .atndsrp os ot saqs!^,\ nS tu e^alar aql lo stl.uat aql ol tralqns (q) ^ldd I (lDnuow suolto.tado aq, pLto yeweubv vl aql u!

papnpu!

aq ot) suo!lerado eeueqlxl 'fI u3larcl (lbnuoW suolp)edo aqt puo ,uaua bV Vt aq) u!

papnpu!
papnpu!

aq ot) stuautAed uolleu!ull3l luatllaar8v e pue Alddns lo uolleultrlral 'zI --l (tDnuDW suoltorado aql puD tuaua 6V Vl aqt I I I I sulal r]arqns --Sr> .$\ tp 'ltcils Vt aql 'l..rejJng,, eqt) sqluctu (€) aarql Burrnollol alll rol n^oqe l.^lsnllull ix!)

ot (i)iel sqdpl3erp.l u!

paqlJllap 5LrorlBSllqo luau]^cd .l{ll l;'alli ol poJrnbal spu,'lJ aql lo jsalxa u!

(!)

5punl seq tunorlv uolllallol aql 'la8png lrrllas atll uo pa5eq 'I (p) pa^losar sr atnds!p aqt qr!qM u!

rlluou aql Su!.
rlluou aql Su!.

{ollol qtuou aLll ul trallddns ol pled .q ol slunolue aql o] pappe aq lll/t\'$arelur luaur^ed alul Aue ql!r.^ reqla8c'l i 'rallddns eqt ol alqe^ed aq ot paulullalap lo paaJee lunorue palndsrp aql'lollddns e lo ino^El u!

pd^losdr sr alndsrp e uaqM lunollv uolllallof Jl.ll u]olJ plPd aq o'l sr ot!o^ur palnds!p aqt qllq/v\ r.I qluour aql ur stroqelolle luawlPd 3u!

{elu ur tunollc ollr ualel aq lou llr.1 lI uolllas ql!/\ atueprolle u!
vsol ,lq palndsrp slunoLuv (J) 'iartddns oql ol lunoure pa^rasaj aql aseala, ll!A vlaqt'tuatulpd ro] paldalle pue qtucrir ]uanbasqns e ut paururqns ueql sr alel pallrurqns sl^l lpql allo^u!

SurpuodsarJor aql usil,l,1 'ta8png Jotlas aql ut qluotu lBrll ur rarlddns teqt ot pled eq ol oaraSpnq lunor-lp arlt ol lenba lunoue ue oruesal e se lunollv uorllallol arll ur urptar lleqs Vl aqr "raulrelu llatull e ur orlo^U!

ue llurqns lou prp randdns eJr 'qtuoru Aue u!


tunol3v uorlraliol eql urorJ pred aq ol slunoue lo 5uo0elnllel aqr 8ut)ietu ut (q) 'sluaurled Jo eqluoru {€) ealqt 3ur^iollo} aql i3^ol ot lllp!nbrl e seq lunofre aql a)uo epeuJ aq Aluo ll!/l^ ruaurAedar s!rll'olloK eq] Aq p!ed slunotue IDUaO aql ol uolllppe u!

'suo!te!Je^ /{oll r.lser Ieuoseas ra^or ol stlluour Joud ur OlJol{ q papr^ord uoddns lllprnb!l tuaurula^o9 ILre lo tuaurledaJ (!)
pue lla8ptrg lottr.S aql Japun aaltrururo:) aql Aq pa^oldde se flgl lq parrnllrl sluaulsa^u!

uorssrulsuerl (Ll) ltoSpng iotlas aqt Japur aeltrruruoJ aql lq par,cJdde se vsol Aq pallnlu!

sluaurganur uorlnqulsrp pue (srs?q lpuoudalra ue uo aaDluruo:r aqt iq pa^ordde pue) lagpng turlejodO aqt u!qt!^1 paloSpnq tou pue VSOI Aq parrnrur aJn]!puadxa alueualureur (3) :pa^losar lou tunou.re patndslp Atsno!^aJd lue (!!)

pue ilunoDV uortralloJ aql olu!

1Dlreo eqt Aed ol spolrad roud .qt u!

Ollol.
{ .to/pue VSOI Jo aJnlleJ e (r, lsarro,iul sno!^erd ur pallrurqns ilunorue ,(Ed ol VSOI lo arnlruj e (0 Jo tlnsal e se srearJe ur Jolerauag pourr,o lpllqnd ftre ol enp slunoue Aue SurpnFur 'rolprauaS pauMo /,ll!lqnd ol vSOj iq alqeled stunotue (J) :qluour snot^aJd aql ut vsof ol peuluqns saro^ut aql lsu!EBe {svdd god aql rapun alqe^ed slunotuE Surpnlrxa) stua(uaa.rFV /,lddnS aql Japun s.r3rtddns aqt ol alqe^ed slunouie (a) ^ue qrns leql papr^ord 'qtuou ]eqt ro, la8pn8 Surlerado aql ut peUltads slunoue {p) lslunorue pale;pnq aqt paalxa lou lleqs sluaurled lpa^losar i\ou lunoup palndsp llsnonajd Aue (!D pue :lunotrlv uorlrallot aql otrult!r!
]ao oql led ol spo!.,ad roud aqt ul ollol l.rolpue vsol Jo arnlteJ e (!l) :sa)lo^ul sno!^3rd u!

pellurqns slunoue ied ot VSOS jo arnlleJ e i, Jo llnsar !

se :_.reo.JJp ur {sroleraua8 pau/v\o lptlqnd Eurpnllxa) sJarlddns aql ot anp st Lrno(e lue (q)ur paqulsap tuaurtealt aql Jo lu[of,]pButlet (l) ^lotaq :luauaaJSV ilddns lue lepun suolleBllqo luaurltsd s,vSOl jo uoddns u!
panssp ruaurn]lsur ,{lr.rnJos luaru^ed roqlo ue Jo lrpaJf, Jo sraUal Aue rapun lallddns lue Aq ur.\ejp slunouJe Aue (q) alqertdde Jr '(VSol ,lq alqela^olal xet rlllllJltalo lo fsg lupjo l.u) sraulolsnr uro_U papaltol pue VSOi ,(q dlrrutlala ]o ales eqt uo posodtur xel AIDlJtlalo .to lS9 ue (e) :lunoule llnl aqt Aed ol luaounsu!

aJe spunj aJaq/v\ i i 'ildei8ered-qns qlea u!


slunoure pa^o satued oqt,uour€ eleJ,old l[ds lunoure I g.t09689ti I. t I I I I I qonuow I suonotado aqt puo luauaudv VI 'DV I lueupueuJv ,o, I u1 papnpul aq o1 | I I I I i I sultal lralqns ol.

I9109689e/tI -a^llsneqra lou s!

pue 3urpurq lle8at trru r!


taarls LrrJat sJrl.1 | J- paga 1e3a1 '11 | 'alrsqa^1s,f8Ml pue .llsqoM 5,lp]auag JolrpnV aql uo alqele^e opeu rq ol anurluol llprls sreal JoUd rol sl!pne oql ,PaA lel]ueuU s,VSOf Jo pue aql raue (lea^ auo ueqt aJour lou 'lua^a ue u!
'lnq) arull lo poljad alqeuosea.r e ulql!^\ 3llsqarll s,luM3 pue al!sqa/!1 s,lEraua9 rolrpnv aql uo atqelle^e apuu, aq (q) Surlunolle tuapnrd llrn aull ul lretuauLuo, atelrdordde opnllur puE paJeda.rd aq (e) :llPqs vsol pue lunolrv uollrallol aqt ro 1!pr)e aq.L 'vso: pue lunolrv uollrallo:t oql ltpnB llSu!plo]le lleqs pue sarlrlua l qnd auoal errals aql lo llpne lenuue aqt lol alqrsuodrar st lplauas loltptrv aql :al!Derd (pv uauPuewv pua lonuDw suolr edo eU!

u!

pepnpu!

aq ol) 3u!l!pnV'9I Jo ssrlxa u!


spunl Auc ]alsuell ol IUe€ 'Sulur,v, u!

vt aql ol Vsol ,r,q parlrlou os:unof,le )lueq s,Vsog ol rallna aqt lunollv uolllallol aql eJnbal ,lsanbal s,VSOl ---;---l sural palqnS .rP x ,,} t --- !

'\ ll !\--r-/ -tl{?

)r L