1 OFFICIAL 3 i/ DOUMENTS The World Bank 1818 H Street NW. (202) 473-1000 . INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washington, D.C. 20433 Cable Address: INTBAFRAD INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVAS September 6, 2012 Honourable Winston Dookeran Minister of Finance Eric Williams Finance Building Independence Square Port of Spain Trinidad and Tobago Re : Republic of Trinidad and Tobago: EITI Grant No. TF011634 Extractive Industries Transparency Initiative Project Additional Instructions: Revised Disbursement Letter Dear Minister: I refer to the Letter Agreement ("Agreement") between International Bank for Reconstruction and Development ("World Bank"), acting as administrator of grant funds provided by Australia, Belgium, Canada, Denmark, the European Union represented by the European Commission, Finland, France, Germany, Japan, the Netherlands, Norway, Spain, Switzerland, the United Kingdom, and the United States (the "Donors"), under the Multi-Donor Trust Fund for Extractive Industries Transparency Initiative (EITI) Implementation Support Facility, and the Republic of Trinidad and Tobago ("Recipient") for the above-referenced project ("Project"), dated March 9,2012. The Agreement provides that the World Bank may issue additional instructions regarding the withdrawal of the proceeds of Grant No.TF01 1634 ("Grant"). This letter ("Disbursement Letter"), as revised from time to time, constitutes the additional instructions. This Disbursement Letter is the First Restatement of the Disbursement Letter dated March 9, 2012 for the above referenced project restating Section II (ii) to modify the address to which Withdrawal Applications are to be sent. All other provisions of the Disbursement Letter dated March 9, 2012 shall remain in force and effect. The attached World Bank Disbursement Guidelines for Projects, dated May 1, 2006, ("Disbursement Guidelines") (Attachment 1), are an integral part of the Disbursement Letter. The manner in which the provisions in the Disbursement Guidelines apply to the Grant is specified below. Sections and subsections in parentheses below refer to the relevant sections and subsections in the Disbursement Guidelines and, unless otherwise defined in this letter, the capitalized terms used have the meanings ascribed to them in the Disbursement Guidelines. I. Disbursement Arrangements (i) Disbursement Methods (section 2). The following Disbursement Methods may be used under the Grant: * Advance (ii) Disbursement Deadline Date (subsection 3.7). The Disbursement Deadline Date is 4 months after the Closing Date specified in the Agreement. Any changes to this date will be notified by the World Bank. 2 II. Withdrawal of Grant Proceeds (i) Authorized Signatures (subsection 3.1). A letter in the Form attached (Attachment 2) should be furnished to the World Bank at the address indicated below providing the name(s) and specimen signature(s) of the official(s) authorized to sign Applications: The World Bank 1818 H Street, N.W., Washington, D.C. 20433 United States of America (ii) Applications (subsections 3.2 - 3.3). Please provide completed and signed (a) applications for withdrawal, together with supporting documents to the address indicated below: The World Bank Setor Comercial Norte, Quadra 02, Lote A - Edificio Corporate Financial Center 7o Andar Brasilia, DF 70712-900, Brasil Attention : Loan department (iii) Electronic Delivery (subsection 3.4) The World Bank may permit the Recipient to electronically deliver to the World Bank Applications (with supporting documents) through the World Bank's Client Connection, web-based portal. The option to deliver Applications to the World Bank by electronic means may be effected if: (a) the Recipient has designated in writing, pursuant to the terms of subparagraph (i) of this Section, its officials who are authorized to sign and deliver Applications and to receive secure identification devices ("Tokens") from the World Bank for the purpose of delivering such Applications by electronic means; and (b) all such officials designated by the Recipient have registered as users of Client Connection. If the World Bank agrees, the World Bank will provide the Recipient with Tokens for the designated officials. Following which, the designated officials may deliver Applications electronically by completing Form 2380, which is accessible through Client Connection (https://clientconnection.worldbank.org). The Recipient may continue to exercise the option of preparing and delivering Applications in paper form. The World Bank reserves the right and may, in its sole discretion, temporarily or permanently disallow the electronic delivery of Applications by the Recipient. (iv) Terms and Conditions of Use of Tokens to Process Applications. By designating officials to accept Tokens and by choosing to deliver the Applications electronically, the Recipient confirms through the authorized signatory letter its agreement to: (a) abide by the Terms and Conditions of Use of Secure Identfication Devices in connection with Use of Electronic Means to Process Applications and Supporting Documentation ("Terms and Conditions of Use of Tokens") provided in Attachment [3]; and (b) to deliver the Terms and Conditions of Use of Tokens to each such official and to cause such official to abide by those terms and conditions. (v) Minimum Value ofApplications (subsection 3.5). The Minimum Value of Applications for direct payment and reimbursements will be US$80,000 equivalent. 3 (vi) Advances (sections 5 and 6). * Type of Designated Account (subsection 5.3): Segregated * Currency of Designated Account (subsection 5.4): United States dollars (US$) * Financial Institution at which the Designated Account will be opened (subsection 5.5). Central Bank of Trinidad and Tobago * Ceiling (subsection 6.1). US$150,000 III. Reporting on Use of Grant Proceeds (i) Supporting Documentation (section 4). Supporting documentation should be provided with each application for withdrawal as set out below: * For reporting eligible expenditures paid from the Designated Account. o Records evidencing eligible expenditures (e.g., copies of receipts, supplier invoices) for payments for consulting Services to firms against contract valued at USD50,000 equivalent or more; for payments to individual consultant against contract valued at USD 25,000 equivalent or more o List of payments against contracts that are subject to the World Bank's prior review, in the form attached (Attachment 5) together with Records evidencing eligible expenditures (e.g., copies of receipts, supplier invoices, bills of lading). o Designated Account reconciliation statement (Attachment 6) with bank statement * For requests for Reimbursement: 0 Records evidencing eligible expenditures (e.g., copies of receipts, supplier invoices) for payments for consulting Services to firms against contract valued at USD50,000 equivalent or more; for payments to individual consultant against contract valued at USD 25,000 equivalent or more o List of payments against contracts that are subject to the World Bank's prior review, in the form attached (Attachment 5) together with Records evidencing eligible expenditures (e.g., copies of receipts, supplier invoices, bills of lading). * For requests for Direct Payment. records evidencing eligible expenditures, e.g., copies of receipts, supplier invoices (ii) Frequency of Reporting Eligible Expenditures Paid from the Designated Account (subsection 6.3) Monthly 4 IV. Other Important Information For additional information on disbursement arrangements, please refer to the Disbursement Handbook available on the World Bank's public website at http://www.worldbank.org and its secure website "Client Connection" at http://clientconnection.worldbank.org. Print copies are available upon request. From the Client Connection website, you will be able to download Applications, monitor the near real-time status of the Financing, and retrieve related policy, financial, and procurement information. If you have not already done so, the World Bank recommends that you register as a user of the Client Connection website (http://clientconnection.worldbank.or). From this website you will be able to download Applications, monitor 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, please contact the World Bank by email at . If you have any queries in relation to the above, please contact a Finance Officer at using the above reference. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Vidya Nars n Finance Officer, Loan Department Attachments 1. As per the original Disbursement Letter dated March 9,2012