Conformed Copy - L4506 - Export Finance Intermediation Loan - Guarantee Agreement

Page 1 CONFORMED COPY LOAN NUMBER 4506 TU Guarantee Agreement (Export Finance Intermediation Project) between REPUBLIC OF TURKEY and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Dated August 2, 1999 LOAN NUMBER 4506 TU GUARANTEE AGREEMENT AGREEMENT, dated August 2, 1999, between the REPUBLIC OF TURKEY (the Guarantor) and INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (the Bank). WHEREAS (A) the Guarantor and the Turkiye Ihracat Kredi Bankasi A.S. (the Borrower), having been satisfied as to the feasibility and priority of the Project described in Schedule 2 to the Loan Agreement, have requested the Bank to assist in the financing of the Project; and (B) by the Loan Agreement of even date herewith between the Bank and the Borrower, the Bank has agreed to extend to the Borrower a loan in an amount equal to two hundred fifty two million five hundred thirty thousand Dollars ($252,530,000) on the terms and conditions set forth in the Loan Agreement, but only on condition that the Guarantor agree to guarantee the obligations of the Borrower in respect of such loan as provided in this Agreement; and WHEREAS the Guarantor, in consideration of the Bank