Conformed Copy - L3345 - TEK Restructuring Project - Amendment 1

Page 1 October 21, 1999 Mr. Osman Nuri Dogan, Acting General Manager Turkiye Elektrik Dagitim A.S. Genel Mudurlugu Inonu Bulvari, No. 27 Bahceliever Ankara, Turkey Re: TURKEY: Loan No. 3345-1 TU (TEK Restructuring Project) Dear Mr. Dogan: This refers to the Loan Assumption Agreement, dated July 5, 1995, between the International Development Bank for Reconstruction and Development and Turkiye Elektrik Dagatim A.S. for the TEK Restructuring Project. We hereby agree to amend Paragraph 1 of Schedule 1 to the Loan Assumption Agreement as set forth in the attachment to this letter. Please indicate your agreement to the proposed amendment by signing, dating and returning the attached copy of this letter. This Agreement will become effective on the date hereof upon receipt of your countersigned copy by the Bank. Very truly yours, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By /s/ Ajay Chhibber Country Director FYR Macedonia and Turkey Country Unit Europe and Central Asia Region CONFIRMED: TURKIYE ELEKTRIK DAGITIM A.S. By /s/ Osman Nuri Dogan Authorized Representative Date: October 26, 1999 Page 2 Attachment SCHEDULE 1 Withdrawal of the Proceeds of the Loan 1. The table below sets forth the Categories of items to be financed out of the proceeds of the Loan, the allocation of the amounts of the Loan to each Category and the percentage of expenditures for items so to be financed in each Category: Amount of the Loan Allocated % of (Expressed in Expenditures Category Dollar Equivalent) to be Financed (1) Goods (including 35,000,000 (a) 100% of associated works foreign expenditures and services) and 100% of under Part B of local expenditures the Project (ex-factory cost) with respect to contracts for goods only; and (b) 85% with respect to turn-key contracts, providing for the supply of goods in addition to associated works and services (2) Consultants