OFFICIAL DOCUMENTS Supplemental Letter KINGDOM OF MOROCCO June 16, 2017 International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 United States of America Re: Loan No. 8724-MA Financing Innovative Startups and Small and Medium Enterprises Project Article VI of the General Condions Financial and Economic Data Dear Sirs and Mesdames: In connection with the Loan Agreement of this date between the Kingdom of Morocco (Borrower) and the International Bank for Reconstruction and Development (Bank) providing a loan (Loan) for the above-captioned Project, and the General Conditions (General Conditions) made applicable to the Loan Agreement, I am writing on behalf of the Member Country to set forth the following: I. We understand and agree that, for purposes of Section 6.01 of the General Conditions, the Member Country is required by the Bank to report "long-term external debt" (as defined in the World Bank's Debtor Reporting System Manual, dated January 2000 (DRSM)), in accordance with the DRSM, and in particular, to notify the Bank of new "loan commitments" (as defined in the DRSM) not later than 30 days after the end of the quarter during which the debt is incurred, and to notify the Bank of "transactions under loans" (as defined in the DRSM) once a year, not later than March 31 of the year following the year covered by the report. 2. We represent that no Liens (as defined in the General Conditions), other than those excluded pursuant to paragraph (c) of Section 6.02 of the General Conditions, exist on any Public Assets (as defined in the General Conditions), as security for any External Debt (as defined in the General Conditions). No defaults exist in respect of any external public debt (as defined in the DSRM). It is our understanding that, in making the Loan, the Bank may rely on the representations set forth or referred to in this letter. -2- 3. Please confirm your agreement to the foregoing by having a duly authorized representative of the Bank sign in the space provided below. Very truly yours, KINGDO MOROCCO rize eresentanme AGREED: INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By AuthorizeI resentative