########## [Note: All italicized text (including footnotes) is for use in preparing this form and shall be deleted from the final product.]

###### Advance Payment Security

########## Beneficiary: AccèsBanque Madagascar

########## Bâtiment C2, Explorer Business Park, Ankorondrano, 101 Antananarivo, Madagascar

########## Date: [Insert date of issue] ADVANCE PAYMENT GUARANTEE No.: [Insert guarantee reference number] Guarantor: [Insert name and address of place of issue, unless indicated in the letterhead]

Wehave been informed that [Insert name and address of supplier, which in the case of a joint venture shall be the name and address of the joint venture] (hereinafter called 'the Applicant') has entered into Contract No. [Insert reference number of the contract] dated [Insert contract date] with the Beneficiary, for the supply of [Insert object of the contract and brief description of Goods and related Services] (hereinafter called 'the Contract'). Furthermore , we understand that, according to the conditions of the Contract, an advance payment in the sum of [Insert amount and currency in 35 words and figures] , representing [Insert percentage in words and figures] %of the contract price, is to be made against an advance payment guarantee. Waiving all objections and defenses, we, as Guarantor, hereby irrevocably and independently undertake to pay the Beneficiary, any sum or sums not exceeding in total an amount of [Insert guarantee amount and currency in words and figures] upon receipt by us of the Beneficiary's first demand, supported by the Beneficiary's statement, whether in the demand itself or a separate signed document accompanying or identifying the demand, stating that the Applicant is in breach of its obligation(s) under the Contract, without the Beneficiary needing to prove or to show grounds for the demand or the sum specified therein. The advance payment guarantee shall come into force and effect as soon as the advance payment has been credited to the Applicant on its account. Minor deductions of the above-mentioned amount notably due to bank fees shall have no effect on the entry into force.

########## [For guarantees issued in foreign currency insert the following:

In the event of any claim under this guarantee, payment shall be effected to [Either insert the account on which payments are to be made with prior approval from KfW or, if no particular account is provided, insert instead:] KfW, Frankfurt am Main (BIC: KFWIDEFF, BLZ 500 204 00), account no. 38 000 000 00 (IBAN: DE53 5002 0400 3800 0000 00), for the account of [Insert name of the Purchaser and the Purchaser's country] .

########## [For guarantees issued in local currency insert the following:

In the event of any claim under this guarantee, payment shall be effected to [Insert the account on which payments are to be made] , for the account of [Insert name of the Purchaser and the Purchaser's country] . This guarantee shall expire not later than [Insert expiry date] . By this date we must have received any claims for payment by letter or encoded telecommunication. It is understood that you will return this guarantee to us on expiry or after payment of the total amount to be claimed hereunder.