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EXECUTTON lERSION (Opemtion Number 36538) AMtrNDMENT AGRt]EMENT NO. 2 to a Loru Agrecmcol dlted 18 Febru.ry 2010 (Adjrr. Solid wrste Project) betwccn GEORGIA and EUROPEAN BAIIX FOR RECONS'I'RUCTION AND DEVELOPMENT D.ted g No{ohbea 2ot8 AMENDMENT AGRf,EMENT NO. 2 TO A LOAN ACREEMENT DATED 18 FEBRUARY 2()IO g [rr"v2mler,2613, ("Aoctrdment Agr.ement This amcndment agreement, dated No.2"), is rhade by and between GEORGIA (the "Borrower") ard the EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMf,M, 8n intemational organisation formed by lreaty ("EBRD"): WHEREAS: (A) The Borrower entcred into a loan agreement datcd 18 February 2010, as subsequently amended by an amendment agreement no.l d.ted l0 May 20l l (togcthcr the "Origiml Agreement") with EBRD, puEuart to which EBRD agreed to lend EUR 3,000,000 to rh€ Rorroscr, on the tcrms ard subjecl to the conditions of the Original Agreementl and (B) The Bonower and EBRD wish to amend the O.iginal Agrcement in cenain rcspccts, on aod subjcct to the provisions ofthis Amendment Agreement No. 2. NOw, THEREFORE, lhe parrics hetrto agr€e as follows: Section l. Delinitions rnd Interpretltion (a) ln this Amendment Agrcement No. 2: "Amerdmeots' means the amendments made or to bc madc pursuim( to Section 2 of this Amendmcnt Agreement No. 2. -Aocodmelt Elfective Drta" has the meaning given in Secdon 3 of this Amendment Agreement No. 2. "Originrl Agreemcrt" hus the meaning given in Recilal A. ft) Terms defioed in the Origina.l Agreement (whether dircctly or by reference to any other agtement or instrument) shall, unless othenvise defined hercin, hare the same mcaning in this Amendmenl Ageemcnt No. 2. The provisions of Section 1.03 of the OriSiral Agreement shall havc efTccl as ifsct out in this Amendrnent Agrccmcnt No. 2 in full, mutalis mutardis. (c) 'Illc Original Ag€ement ard this ADeodment Agreement No. 2 shall be rcad aad constucd as a singrc dooumcnt. Sec.ion 2. (a) With etlecl on and from the Amendment Ellcative Dale: (i) Section 2 Pan I ofSchcdulc I o[thc Original Agreement shall be deleled in its entircry aad ruplaced with the follou,ing: "Pad l: Phrs. one (lmprovcd managemcht ofdisposal ofsolid wrste in tle Autonomous Rcpublic of Adjara) - Consbuction of& new sanitary landfill wilir auxiliary facilities in Tsetskhlauri; - Closue of old dumpsitcs in Batumi and Kobulctil atrd - Supply of movable equipmeni fot landfill opc.ation." (ii) Section 3 of Schedule I of the Originsl Agrc€ment shall be deletcd in its entirety and replaced with the following: "3, Thc Proiect is cxpcctcd to b€ completed by 3l December 2022." (b) The provisions of the Original Agreement shall, save as amended by this Am€ndmcnt Agreement No. 2, continue in full fbrce ond effect. (c) Ncither the entry inlo of this Amendmcnt Agrcement No. 2 nor the making of the Amcndments arc intcnded io and shall not adversely sJfect or prejudice the existence and eaforqability of ary and all ofthe Ptojcct Agreements. Secfion 3. i\me[dmcnt f,ffeclive Daac Exccpt as rhe Bank and the BoEowar shall orhetNise agrce, ihis Amendment Agrccment No. 2 shall becomc cffectivc on thc date upon which the Rank dispatches to &e Bono$er a notice of the Bank's acceptance ofevidence that the execution and delivery of this Amcndmcnt Agre€mc No, 2 on bchalf of lhe Borro\Ycr have bccn duly authoriscd or ratified by all neccssary govemmental and corporatc action (the "Amendmcnt Effcctive Date"). S((tion {. Irurthrr r\ssurancts lhe llonower shall, at the rcqucst ofEBR[) and at its o\tn cxpcnse, do all such acts and thinSs ncccssary or d€sirable to givc effect to the amcndments effected or to be eflectcd pursuant to this Amendment ASreement No. 2. Section 5. Miscellaneous (a) All ot lhe provisions of the EBRD's Stardad Terms and Conditioos dated I October 2007 are hereby incorporated into and madc applicable to this Amendmenl Agre€ment wilh the same force and elTect ifthey wcre fully sct forth herein. (b) All references lo "lhc Agreement" in the Original Agreement and all reference to thc Original Agrcement in all instrumenls and agre€ments executcd thercuoder, including, *ithout limilaaion. any and all Pmject Agr€ements, shall lefer to thc Original Agrcement as amended by this Amendment Agreemenl No 2 (c) This Amendmcnl Agrcement No. 2 and the documents referrcd to hercin constitute the eltirc obligation of thc Frtics hercto wilh respccl to the subject mattcr hcrcof and shall supersedc alry prior cxpressions ofintent or undeNtaadings with rcspcct to their subject matter. (d) This Arncndment Agcement No. 2 may be cxecuted in several counterparts, each ofwhich shall be deerncd an original, but all of which togethcr shall constitute one qnd the san:e agrccment. .l IN WITNESS WHEREOF. rhe Parties herero, acting through their duly audorised represenlatives, have causcd this Amendment Agrccmcnt No. 2 to b€ cxecuted and delivered on the date fiIst above wdtten. GEORCIA By Name: l-irlcl Iv AND DEVELOPMENT )

EXECUTIO\ COPY (OpcratioD Nurnber 16538) AMENI)MENT AT;Rf f 1!'I.]N'I' N0 I to ! k,an agrcc[lert drlod 18 FebrurrJ* 2010 (Adjlrs Solid Wrttc Projcct) bclween CEORCIA 0nd EUROPEAN BA:{K FOR RECONS'TRUCTION AND DEVELOPMENT oaroa Mq{ iOi zou AMENDMENT AGREEMENT NO. I TO A LOAII AGRf,EiIENT DATED T8 FEBRUAI{Y 20IO Ma.\ lC, 20lt (rhis ' Agreemenl..), is madc bctrvccn GEORGIA (th€ "Dorro*cr") and the EUROPEAN BANK FOR RECONSTRIICTION AND DEVF,LOPMf,NT, an intemarional organisation formcd This amendn)enr agreemcnt, darcd by treaty ("EBRD") WHEREAS: (,\) Iillll.D has bccn esublisheo to proviCe financing lbr specilic projccts to lbsrcr lhc lrirnsilron towards opcn markel orieotcd cconomics and to promlrlc prjvaLc and enlrcpr'rncurial lniliari!c io lhc Ccnu.dl and Eastem Europcan countrics commillcd lo and applving Ihc principlcs of mL,lrip!(v democrac). pluralism and ntarlcl cconomicsi (l)) the Borrower entcrcd inlo a loan agrlcment whh EBRD datcd 18 [cbruary 2010. as amended from lime lo time (the "OrigiDal Agreement"), purslMl to \yhich EIIRD agrccd to leld to the Bono\lcr, on thc lenns and subject lo colrdilions of rhe Origina] ASrcenrcnl, an aorouor not to cxcccd EUR 1.000,000; and (C) the Borrowcr aod I]BRD wish to amend the Original Agreemcnl in corlain rospccts in oider to indicatc corrcctly the last Loan Rcpayment Dalc Bilen thal lhe Panies hereto havc .greed that lic Borower shall rcpay lhe Loan in 24 cqual (or as nrarly equal Bs possible) s€mi-annurl instalEerts oD 15 Ms.ch and 15 Septembcr of each year. with rhe lirsr Loan Repaymcnl Date being | 5 March 201.1NOW, 'IHliltEFOllE, thc Punics hcrcto agrce as lollo*sr Scction l. Dcfinitions aod lntcrpret.tion (a) lerms delined in the Orjginal Agreement (['hether directly or by rct-crcncc ro an! other agreenrnt or instrumenl) shall, unless olheawise detlned herein. have thc same Drcaling in this Atsrccnrcnl. ltc p.olisrons ofScclion Loi o[ lhc Origi[al Alfccnrcnl shafl havc ellcct as if ser oul in lhis Agreement in f!\1, nulalis nutanlis. (bl 'fhc Original Agreernent and lhis Agrecment shall be read and consuued as a sinSle docurncnr. Scclion 2. Amcodmctrt! (a) With cilccl lrom thc dale of ralificltion of this Agreement by the Parliomunt of Oeorgia. Scction 2.02(eXl) ollhe Oiginal Agreement sh!ll be deleled in its ehtirelt and rcplaced wnh lhc tbllouinU: ''(c) (l) -l'he Borro$cr shall rcpay fie Loal ir 2;l equal (oras nearl) oqual as possiblc) scmi-annuai inslalmenls on 15 ]Uarch and 15 Seplember ol eorh E year, qith the filst Loan Rcpaym.nt Darc beinS 15 N{arch 2014 and trc lasl I-oan Repayment Dale b€ing l5 S.prember 2025.' (b) Thc provisions of lhe Original Agr.cmcnt sh8ll. savc as amcnded by thi3 Agrecnrent, conlinue in full force and cffcq. Scctiol 3. Further A$urttrccs l}te Bonower shall, at the rcquesl ofEBRD and 0t irs own cxpcnse, do all such acrs and lhings necessary or desirable to give eflect to the anendments effected or to bc etTcctcd pursusrt to fiis Agreem€nl. Seclioo{. Miscclleneous (a) ,{ll lhc provisions of thc EBRD's Standard Tcrms and Condirions datcd I October 2007 are hereb.v incorpomted inro and made applicable lo $is Agrecmcnl \rith tho same force and eflecl ifthey were fully sct forrh herein (b) All rcfcrcnccs lo "rhe Agreement" in *l€ Originil Agrccmcnt and alt refercnce to thc Originol Agreement in all instruments and oBreements €xeculed thcreunder shall refcr to lhe Original Agre€menl as amended by this Agr.emen(. (c) This A$ccmcnt may be cxcculed in scvcral countcrparts, cach ol *hich shall be dccmed an origiDal, but all of uhich mgelher shall constitute onc and lhe same sgreemenl. IN WITNESS WIIEREOF, rlE Parrics hercto. acting throuBh th.ir duiy aurhoriscd rcpIlsanlntives, hlve causcd rhis Agrearngnt to be execurcd and deliverrd or $€ dare fiBt abovc writrn. EUROPEAN BANK rOR RECONSTRUCTION AND DEVELOPMENT By: c-'I.a L' ' .--'

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EXXCUTION COPy (Oporatioa Numbcr 36! 38) LOAII AGREEMEM (Adjrrr Solld Wrtt Prorcct) bctwccrr GEORGIA and EIIROPEAN BANK FOR RECONSTRUCTTON r{ItID DEVEII)PMENT mrd /3 64ua,rs-.zoto ,I'ABI,E OF CONTENTS I ARTICLE t - STANDARD TERMS AND CONDITIONS: DEFINTfIONS .t and Cooditions Tcr[6 Section 1.01. IncorpolatioD of Standqd " "" 1 " " "'''' Scction 1.02. Dcinitiot!s.....,...... ,.... 2 acction t.03. . lnterPr.tation...........-.. " " "" ARTICLE tI - PRINCIPAL TERMS OF THE LO^N.. . .. ..... .. ...................... ... ....". 2 ...........,.,."..,.'2 Secrion2.Ol. 2 ScatioD 2.02. Othlr Fimnoial Tcidls oftho ...,............'..'..'..... 3 Socrion 2.03. Drewdo*ns ....... . . .............. Scclion 2.04. Authori8od Rcpr6.at tivc for Drewdorns " " " A.rnountandCurcncy.. Loan " " "- " """ " "'" "" "'l ARTTCLE rr . EXECUTION OF THE PROJECT......'.......... .............. ......... ... ....... ..3 a Se.tion 3.01, Othcr Aftirrmtivc kojecf CoYcnT $ ARrrcLE rv - susPENsloN scclion4.01. Suspcn6ion " """ "" """ " " " 3 .... ........... ." " 5 .......,................. ......'..,....''.'.....,....,...,.'.,........,'....'. 5 AR I IUL! V - EFFECTIVENESS.,.,,.,,..,.,,.''"' (o BfiGctiv@!" Soction 5'01. CoEditioD! PEccd.ot Scction 5.02. lrgal for Fsiluc to Bccollle Effactive Section 5 .01. Opiniors.....,...... T;i;tion ARTICLE vl - MISCELLAx{EOIJ'S....... .." Scction6.0l. Notic6... ................,.... SCHEDULE I . DESCRIPTION OF T}IE PROJECT SCHADULE 2 . CATEGORIES AND DRAWDOWNS '...'....,,.....'.........' 5 """"" "" " " " " " ' 5 "'"-" '" ''"""'6 " "' 6 " .""" '6 " """ "" 6 II)Ati AGREEMENT ua(t Z0I0 b.twc.n CEORGIA (thc "Bo..'owcr") AGR.EEMENT dated /6 (the ANd EUROPEA^I BANK FOR RECONSTRUCTION AND DEVELOPMEM "Bank"). PREA.I}IBLE wBf,REAS, tb€ Bar.k h.r been astrblishcd !o pmvidc EnancirE fot spccilic projccls io sDd to Plomotc ptivalc foslcr tha lraosition tow-ads opctr Dlrkct-oricotcd 'co'omics and mtreDreneurial initiative i; th. Cent al and E8stcm EttlopesJl countlies commitl€d ro urd applying the principlcs of multip{ty dcoocr'cy, plur'lism axd mttkcl t cconomics; I WHEREAS, the Bonower intcnds to implcmcrt th€ proj6t a5 dolcriM ir Schcdulc wrste lolid of thc (dt;;P.oicc;") which is dcsigBcd to &ssist in thc improvcrucnt managcm'cnt systcm in tic Autonomous Rrpubhc of Adja'a in Ccorgi4 WHEREAS, ihe Project $'ill bc caEied out by Hidcnr 2009 -Lt4 '- limilcd lisbilily byftc company organised and existing under thc laws of Gmrgia atrd wholly owncd in ss dcfined Eotity'' the or "comPany' '?bject (thc .trtJro,i,ort-nauuli" ol Adjat; $c Standard Tcrms arrd Conditions); WHEREAS' the Bonower, lhe Autonomous Rcpublic of AdjoB and the Comp&y have rcquesled assistance tom tic Baak in firancing &e Projecl; WHEREAS. Dursuant to the Projoct lnPlcEeDLtioD and SupPofl AtIryrtt! las ald lhc dcfn€d bclowi, lbe Aulonomous Rcpublic of Adjsr4 thc Ciiy of Batumi iiiutct, t'tuniiipatity havc undemkcn to provide lhe compatry with thc ncccasary support ro successfulty iEplcmcst ihc kojecl; WHDRIAS' tbc Bltrl is in tho proccss of e'renging t'chnicd cooperatio! turtds on glant basis to assist itl implementing cenain pans of thc Projccli a pTmd,"-i WIIEREAS, thc Swedish Inicroational Dcv?lopm€dt-Agroly CSIDA) yll to sub'cct of thc Ptoject' sram in fte amourt ofEt R 4,000,000 to sssist in thc financing lbc Bank and ,"i ronr, io agr@mcnt b€tw'cn stDA ,o ',h;ffi;; ffit*;. li (rbc "slDA Grant Agreemcnl"); and - WHtrR-EAS. lhc Bank has agreed o! thc basis of, inrer olia' t!* lorcgoing !o male 6 loan to lhc Bo..o*c. io thJ amo,rnt of EL,R 3,000,000, subj.ct to th. t.im! and conditions set fonh ot refencd to in thiB Agr..mcnt' the Projecl implem€otalion aJd suppo( agrecmeit dated thc date hcreof bctwecn lbc Autonomous R'public of Adjara, th;'Ciry-of Batumi, thc Kobulcti Muoicipality and thc. BaDk (lhc "hojctt lmplemcntatio. and Suppod Ageement')' and in thc plojcct impldnrnlation agccmellt (thc "P!o.j€ct Irnplcrflcntation rlatc-d thc datc hcrcofbit*ecn Gc Company and the Bank A8'ecment and tbe and SuPP'rn ,q.*..a*f'f (crch of the Proiccl ttlPlem'nlalron rr!*r i*pi"-.""ri., AgrEqn.nt bcing s "Projecl Agrcrmarf'es defined in lhe Stsrdard Te.ttls snd Condtions) O NOw, THERf,FORE, thc puti6 hcicby rgre as fouows: A.RTICLE I - STANITARD TERMS AND CONDmONS; DETINITIONS Seclioo I .01 . locorporrdo! of Sarldrrd Tcru ud Condltionr datrd All of tIe provisions of the Bant's Standa'd Tdm! atrd Cooditions to rhis Agrcmcot I Oo;; iiO, ari hercby incorporrtod itrto sdd madc aPplicablc (such provisioos are ,riitr- tt s"*" rot"c ara cffect "r if ttrey wcrt futly sct funb hcrci! " oallrd tho "slardud TGrdr hcreinancr Secdotr 'ttd Condilioos")' l.oa Delbldori unlerl wlqrcvcr usod ir lhk Agr.trncot (includilt lh' PtEmblo ard Schcdfil6)' tttnt d!ry.d-T ry lylo': sulcd olhcrv,/isc or thc coot( l oihtrwisc ]tquiras' th' dehod m lnc lla r!'! havc tha rGrectivc mcarunBs givcn lo tbem lhclcin, lh' lctrEl m"tritrgt dv'n io lb."n t*.in end ih€ rt i;;JA;iil "Itio,".po"t"" followin8 tarms h.ve thc fotlowinS m"nings: "Bo[owcds Authorised n"*o.ni"tite' 'EBRn Pmcurcmcnt Rules" "Fiscal Ycar" me&ls $c Minirrd of FiD{rce of thc Borow'r' cx@pt as spccifild in S'ction 2 04' mains thc ProcurEdcnt Polici6 ard Rulc6 for thc proj'cts ald Enanced by rhe Europcan BaEk for Rcconstruction thc Bank lo timc by rimc frod Dcvclopmsrt, ss rmcnd.d mesns the Bonowels Iiscal year comm€nchg on 1 Jaruary of csch )tar. 'On-t ndint Agr.crDcDt" mcans tbc oD-lending lgrcctamt to bc(asctrldcd into snd 'mong th' borrows) thc Autonomous Republic of Adj"-a 3'01(a)' in fo'm to S€ction (as lcndc, Borrowcr PursuaDl as such on'l'ndiDg Bsnk the to and subslsnce salisfacrory linrc lo frortr timc agtccmcnt may bc allrcndcd Secdorl.03. lDterPrcirdoD Scction or Scheiule sbal)' In this Agr€..lDcn! a rrfaeoce:o a spccificd Aniclc' a rcfercnc' to fial otbcrwisc in tlis egrc'cmcnr' bc consuucd as "-"J;;;.;i;; lhis Agr! m"ll spccilied AnIclc or Scction of, or Schcdulc lo' ARTICLE II . PRINCIPAL TENMS OF TIIE LOAN a Scctlor 2.01. AEroult and Cltr'trcy oD thc tcrn$ end conditioni sot forlh or T}le Bar& agrecs to lend lo !h' Bonower' 3'000'000' to-in rlit g"".cnt, lhc arnouf of ELIR i .f"J Sectloo 2'02. OOcr FiDrlchl T'rulr ofltc Lortr (a) The Minimum Drd*6o'vn 4neud 5hall b€ EUR 100'000' (b) Thc MinimuE Prepa)'rnc Amount shall bc EUR 200'000' (c) Thq Minimum Catccllation Amounl shall be EUR 200'000' yca'' (d) The Interest Paymcit Dal6 rh'll bo I 5 March afld I 5 Scptembd of cach rs /-\ /r\ T1. Rnmwer shall rr!8v $c [n8n ilt 24 cqurl (or 8s Dcsrly equsl with the orcach vcar' -d t5 s'pt-bo l,'i",n\11.-i1",'il'*ir;;;;";; is u""h2014 and rhc la6t Loan Rc?svmdr Dare 1"1'"1 il,iiil"#',U;-fi;,;;*ios-is 2026' bcioS l5 SsPrcmbcr (i) fic Bottowq do6-not (2) Notwi0Etanding the forcgoilg' in tlc cvqnthcthat l,.n Rq"ry::l ?1' firs1 Pdor lo dra\x down the rnti,! l'an 'mou!! not cll(ad thc.L'sl docs *"tin.a in this Soctiotr 2.02(c), ild (ii) ltrc Brd( irrif"Ultl," Dslc. rhm thc amoutrts allo"!'d 'bovc for rcpaymcnt 9rall Dc ;;;;; ;i; ;;ilh;".' in the cv€ rhat (i) $c Bormw.' do.o ryt-a1,I aown rhe cnlitc toan amount prior to thc first ['oan Rcpxymcnt Date spccltllo- Itr (i, th; Banl crtcrft fte Last Availabilitv D'tc Ep€cilicd lpr! RlPaytrrclrt in-is€ctio.r U.OZfO U.low !o a dlt whictr fall! aflcl ruch 6lsl of cach drAwdo!"' rardc on or aftrr thc 6'st l,oatl ;;. ;h;;;';; to the s"'/qal i-lr."ri ri"" ]t"I *..llocat.d for rcp'ymcnt i! 'qu'l 'Eoutrls(wilh the Bsnk dt-swdowo of luch falt 6ncr thc ;;'16;;;,;;which iD nu$bcrt wholc auoca&d as ncc'sgtry ;j,ls;fi;;;;; 'dc so ts to achicvc ;t;;;.iJ-t:orG;J - 2 eachcasc).ThcBanksbdl,ftoetinctotimqrotifythcBotrowaofruclr .Ilocatioru. rn 2Ol3' or such l'tcr d'!o thd lh' Th. Last Avsilabrhty Datc shrtl bc 3l Ilcccmber and norifv to ttc Borrower' ;".k ;;; ilil;i'onistartisl (t) The rate of tbc CornmitDa Chrrgc shall bc 0 5% per uuum' (h) lbe lpatr i8 subJcq to a vairblc lltcrrst Rarc' S.rtlor 2.03. Drslvdowns rhe Avairabrc Amounr -y b" dypf:#tr* ffi"",ff,[;:1ffi:'g::i to fiIlaacc-( I ) cxP@-"T']l-4,'.'Ii'^'.*r"r" rhc orovisions of Schcdule 2 I f". '*riri l^hcmede)mrrspcctoftherEasonnDlccostofsoods,worksrndscrvic€srlquuldIol CormrtsoD thc Proj ocr, aod (2) the Frcnt'(,rd Sccrloo 2.0'1. Authodied Blprcscntltlvc for Dr'r'dowD' m'rhffi*,1*$:*:-r"frt'*fr ilti'i'.t'i#*; ARTICLE III . EXf,CUTION Proltcl s.ctio! 3 01' Oticr Alnrm'da' OT TflE PBOJECT CovctruB '"il#t":r"l-'." rnsdditionto,r'q:"d.*1gY*EoT"SII'hSff thc Botrow Sleidard Tctm! ard CondilioD$ i:1.,#t,l"-:*l':,:,,Ti:':i:fl "s"l;'"1'H'":i:'ffi .,:H"#;$::"T; Bankl tt'"#."1: u,":Hx:ir:tJ',.ffl 8rd to L{o A8rc'm€flt {iFHt:*ffi#ix#ffi prorrsions of this madc; abrogate' tetminatc or l.l not. exccpl as thc B.Itk otrrusc agtecs' tssi$' smcDd' Ilr. -v p-rislon of $c Onlcndilg Agrcctncll undcr cach Projccl (d) cause thc Company to pcrfonD sll of it! L3P'ctiv' oblig8tion5 lhriimion ita obligations rclatint ro: )-L#il; ffi;"t ilI"p"?v, iocroai'e *thout (l) thc Brablilho€ol aDd op.ration of I projc(r m8nsgEotnt hsk forc.e rs providcd lor in Scctioa 2.03 of thc ptojcct lrnplcdcDtatioo arld Support Agrccmcnt; (2) proaurcment ofgoods, works and scrviccs fo! thc proje{l as providcd for in Section 2.04 of the Prcject Implementstton and Suppon Agreqrcnt and [!ore in panicula! for purposcs ofscction 4.03 offtc Stsndsrd Terms end Conditionr lho following provisions shrll, cxcept as lhc B.nk othcrwisc agrccs, govcrn procurcment by the Company of goods, wo*s qnd r.r,/iccs required for thc Projcct and to bc findnccd out of thc procccd! ofthc Lart (a) goods, worts end scrvicas (othcr thar consuhrDts' srrviceg which slc included within Scction 2.04(c) of rtrc Prcject Impicmcntation and Suppofl Agrccmcnl) shall hc prccued through oFt !.nd6ing; O) for purposes of SGctioD 2,04(.) of thc Ppj.ct Implcmcntarion aod Suppo Agrremedt, thc proccdur.. for op.o t adldtg .r! sct ou i! ct.iptcr 3 of thc EBRD PrDcurqncnt Rules; (c) consulialts to bc cmploycd by th. Conp8ny to as3i.t in th. carying o0l lhc Projecl shall bc sclectcd in sccordarcc with lhc procedules sa out in Chapter 5 ofthe EBRD Procuanenr Rules; and (d) all conrracls shall bc subjcct to the prior rcvicw procciurG sct out in the Anncx I lo tta EBRD Proculrd.nt Ruler; (l) errviroumeotal and rociel m.ttcrE as pmvidcd for in Scction 2.Oi of thc Pojccl llllplctncntalion and Supporl AgrcoEat and S6tion 2.02 of tho Projcct Implcmcntrtion A8rcacnl; (4) employmenl and usc of consultants to arsist in the impicmcnlation of thc Projcct 0.s providcd for in Scction 2.06 of tlre Projcct lmplcoc{taton ald Suppon Agr'cm.ot; (5) calyiry oul a corpon . dcveloprncnt nrd rcgional support plogrlrlEc as providcd br in Scction 2.06 of the ftoject laplcrlentation gDd Support Agrccmeni; (6) preparalion atrd submission of reports on mattcF rcbting to thc Project and the Company's opeiations as providcd for in Scction 2.07 of rhc p@jcct Implementation and Sirpporr Agrccmcr ard Scction 2.05 of thc Projccr Impicmcr aiion Agrccmcnl; (7) m8inrencDce ofproccdurcs, records and accou 6, preparation, auditing and subEission to the Bank of linsncial slatcment6 ad frmishing to the Batk any olh.r rclcvanl information rclating to thc P$jacl oi lhc Company's opctrtions as provided for in Sdtion 3.01 ofthc Projc.t t Dplcmcntation ASieemenl; and (8) compliance with all covenatrts Egardilg fi.nancial alld operational aspects of lhe Project and thc Compaiy as proyidcd for in Sccrion 3.Ol of thc project 4 ImplcmcnBtion snd Suppo( AgrecmcDt and Scctions 3.02 a.ud 3.03 ofllle Projcct Impleltlcntation Agrccmant: (e) cause ary person (othcr ftan a naural p6sorl) or cntity contlollcd by de Bonowcr 1o pay solid wasl€ chrrSrs lo the Company; rnd (0 lake, or causc lo bc taken, rll actions nccessa.y to emblc the Cornpany to obl.in all pcrmirs and lic€ncqs rcquircd for thc cllsuuctioo to bc ca[icd out utrdcr the Project. ARTICLE tV - SUSPENSION S.cdor4.0l. surpor.lor I The followiag arc rpecified for purposcs of Sccrio[ 7,ol(axxvii) of thc St.ldard T.rms ,nd ConditioDs: (a) Thc Statures of thc CompaDy ehgll hsvc bccn amcrdcd, ruspcoded abrogatcd, r.peslcd or $,aived without th€ Eank's pno. lvrittsr co8cnt; (b) Thc Ministry of Econoqic Dcvclopmctu shall hrvc rcfuscd to isruc thc constructioo permit for thc PDjacl; srd rc) Control of thc CoDpstry ehall have besr tr8lslirrrd lo a party othcr tlBD the .\ulononpus Rapublic of Adjra. AIITICLE V - EFFECTIYENESS Srctioo 5.01. Cotrditbtr McEa t0 Etrccdv?rctt The followirS are spccificd for purpose! of Scction 9.02(c) oflha Stsndad Te.Bs ,ind Condilions as additional conditions to the eff.ctivenels of this Agrrcm.Dl and each Prujr(r Agrccmcnt: ,.rr lhe On-lcndilg Ageanent, in form 8nd subste'lc€ satisfactory to the Bat*, hes h.'en executed rad dclivsed and .ll condiaiorr Erccdcnt to iB llf.ctiycDcs! or to 0rc r 3.hl of rhe Autooomous R?ublic of Adjus lo Brlc drEwin8! thcrcundcr, cacrpt only :h. eff.ctivmcss ofthis ASrccrno{, havc bcal fulillcd; ,hr rhc Projcct Inplcrncnlation Agrccmcflt ard thc Projcct lrtrplcmrnl8tion aod Suppon Agrecmell, cach irl form 8nd subslancc ssiisfactory to thc Banl, hava bccr! .\.crr.d and dclivcrcd and all conditioN preccdelrl lo thcir eflectivcncs!, cxcapt only :ii. effccrivcness ofthis Agrcemcot, havc beco fulfillcd; 'J the SIDA Gralt Agre€nert har becn accutcd lnd dclivqrld aod all cooditionr tr.tadcn! ro iti c(Iootivco66, cxccpt ouly thc cllcativmcas of this Agrctltcnl, havc "en fulfiiled: (d) the Mioistry ofFinalcc and Economy ofthc Aulonooous R.public of Adjaia has ,brmally notiricd thc Ba* of its adhcrcncc to th. principtc of pmgrssive rmplcmcntatjon of firll cost recovcry tarift for 3olid wsstc scIlicc6 rakinS into considemtron thc allordabiliry constraitrls; (c) a cc.trfied copy ofthe Slatules ofthe Company has been povidcd to thc Bank; (0 thc Autonomous Rcpublic of Adjars has contracted consultants in accordance \vith Scction 2.06(a) ofthc Projcct tmplcncdation and Suppon Agrccmcrt; md (g) a project managetncDt lsrk force har bcal 6t8blishcd by lhc Corpany and is opcrating in aocoduoc lyith Scction 2.03 of thl Proj6t ltnplemcotation aad Suppod Agreanant. Sc.tio! 5.02. Leg.l Opinlonr ) (a) For purposcs of Scction 9.01(s) of tha SLrndatd TctEs ard Coiditions, the opinion ofcounsel shall bc giv<r on behalf ofthc Borower by thc Ministry ofJusicc. rb) For purpos.s of Section 9.03(c) of 6c Stand8ld Tcrms and Conditions, lh€ opinion or opinio$ ofcounscl shall bc givan on bchalfof thc Aotonomous Rcpublic of \djara by couDsel acccplablc to thc BanI ard the following are spccified as additional marters to be included in the opinion o. opioions lo bc tumished to thc Bank: the Onl.ndirg Agre.rnent hrs bccn duly authortod or rstificd by, atld cxcoutcd alld dclivrrcd on behalf of thc Autonomous Rcpublic of Adj$r and cotrstitutcs 8 vrlid std lc8auy bindinS obligatioo of ths AutonoEous R@ublic of Adjsr' cnforccsblc in sccordmce Nrrh its t.ms. Sectior 5.03. T.rrnir.aior for Frlhr. lo Bccomc EILcdv. Thc datc 180 days sllcr 6c datc of thir Agreorsnt ic sPccificd for purpccs of Secrion 9.04 of the SlartdaId Terms and Conditions. lt i! acknowlcdgcd th.i puluert !o Sccrion 9.01 olthc Standa'd Tcrms and Cotidition6, this Agrcrrncnt shall only bcconte .fc.tivc on th. datc upor which the Bark disprtcho to tltc Bortowcr mticc of the Brnk's acccptance of th€ cvid€nce rrquired by Sections 9 02 and 9,03 ofthc St&dard T.nns and Conditions, ARTICLE YI - MISCELLANDOUS S.riion 6-01. Nottc.. Thc following addrc,scs arc spccificd for purpos6 of Scctio[ 10.01 of the Sundard Tcrms snd Coaditions: _l- For lhe Borowcr: Gcorgia Ministry ofFinrncc I 6, C,orgarsli Strc.t 0l l4 Tblisi Gcorgia Ancntion: Drpartnc of Exicfnal Rclations Fax: +995 32 261 461 Forlhc Ba : Europc& Banl for Rcron6tuctio! and Dsvcloltrcnt Onc Elchragc Squarc Londo! EC2A 2JN United KinSdom Atleflrion: OpcrationAdministrationUoit Faxr +44-20-7338-6100 1 !N WITNESS WIIER.EOF, the p.rtics hcrelo, acting thtough their duly anthoriscd rEprcscntativcs, havc csuscd this Agrecmcnt to b€ siSncd in EnSlish in five copies and delivercd at Tbilisi, Georgia as of thc d.y and ycsr filst sbovc wrinen. G!]ORGIA By: ) EUROPEAN BANK FOR RECONSTRUCTION AND DEWLOPMENT *'ffi,^Titlc: Priocipal Boaka 8 SCHEDULE 1 . DESCRJPTION OF THE l. I he purposc of thc Projcct is to PROJECT improvc solid wastc manegcmcst scrvicas i! thc of A jd-a rhough (A) the i'Dplc'nentltion of thc invcsm'fll l'.Ji[ffi: ffi{;:l[**"*rumm',,'*tff"T'fii'*,ffi mraagcnal' of E'ancial' (B) ^*o"i.oi.''n"p.tU" ;;;;;"; ;';;tc; operanonal r]nc cnhancgnent #;;;; fiil;;er J"tioos ortrre comffi,#y..t HSff::lgT-.: loroorale dcvelopmcnt and rrgional supl .ralara es a bcncfcisrv or of ihc Autorooous R{ultic of Comprny's scrvlc' dclivcry thtouStr thc rhc Company'3 servica6 to moEIlor mc ilnplemcntatlon of the cDRSP Xf,;;;;;il;;;Pacitv partt Thc Project consists of lic followiDs :'.,b11:l:,1:l lo tunc: l-h" gt k ,ha Bo.tower may agtcc upol &om tlmc l. Intdtficstions thcreof ";a Pan l: Ph.te Otr. (lnprovcd matls8eficnl of disposa'l of solid waltc in the Autonomou! Rcpublic of Ad.iara) of a ncw sqnitlry landfill a! Chatvi' including q'orls; end cxuastioD sFtcm - Cons[uclion - ctosurc of two Grbting P.fl 2: hdfills' SuPpor! EDginerint scrvicc6 Ptovision of thc Proj6r Irpldnrolirioo s"po,i.i"' T'cbnicsl co-opcration Progroouc "ri i""nJ Pmvision of thc Corporate Developmcnt and Rcgiorlal SupPort Tcahdcsl Co'oPcr'tion PmgtarnEtc l. gas Ihe Project is exp€ctcd to be complct€d s by 3l D6&mbct 2013' l.l SCHEDIILE 2. CATEGORIES AND DRAWDOWIrIS scts fonh thc CetcEorics' th' saouot oftrc l. Thc tablc sttach6d to rhis Sch'dulc pcrccntrsr of cxpcBditur6 to be financed in cetego.y and the i;- ;;;;;;; each Cat€tory. peng?pb I abo{o' no Dnwdown ,slall tc 2. NotwithstandisS the provisionr ofprior ftc dste oflho Loatr Agrcerl€ni ,"a" L-t"*J of"*p-dtutei iDeunld to s2-l I Anrchmcnt to Scbedul' 2 AiDull ol th. Lo'o /ulc"t'd ln th.lrll Cutr'o'Y 100 (l) tl{orl6 .nd sood{.{or ?'n I Fc.al of cp.tditurcr clchdrnS dl T.x.t (2) fro <d Cor,sti$io! t'\ s2.2