RECOMMENDATION OF THE STATUTORY COMM TIE DOCUMNTS To: The President, International Bank for Reconstruction and Development Recommendation of the expert selected by the Republic of Iraq as a member of the Committee under Section 4 (iii) of Article III of the Articles of Agreement on the proposed Loan (Electricity Services Reconstruction and Enhancement Project) to the Republic of Iraq. The undersigned member of the Committee constituted under Section 7 of Article V of the Articles of Agreement of International Bank for Reconstruction and Development (the Bank) hereby submits this recommendation as part of the report pursuant to Section 4 (iii) of Article III of said Articles in respect of the proposal that the Bank grant to the Republic of Iraq a loan in an amount of two hundred million dollars ($200,000,000). The purposes of said loan are: to improve the reliability and operational and commercial efficiency of electricity services in the project areas covering the South Electricity Distribution Company (SEDC) service territory that includes the governorates of Basra, Al-Muthanna, Thi Qar, and Missan. 1. The member of the Committee has carefully studied the merits of the proposal to grant such a loan, and of the purposes to which the proceeds of the loan are to be applied. 2. The member of the Committee is of the opinion that the project toward the financing of which the proceeds of such loan are to be applied comes within the purposes of the Bank as set forth in Article I of said Articles of Agreement, and that said project is designed to promote the development of the productive facilities and resources of the Republic of Iraq and is in the interest of the Republic of Iraq and of the members of the Bank as a whole. 3. Accordingly, the member of the Committee finds that said project merits financial assistance from the Bank, and hereby recommends said project for such assistance. H.E. Dr. Fua (lu in Minister of Finance Ministry of Finia ce Baghdad, Republic of Iraq Email: ministeroffice.mof gmail.com