„2017 წლის 19 დეკემბრის „საქართველოსა და აზიის განვითარების ბანკს შორის სასესხო შეთანხმების (ჩვეულებრივი ოპერაციები) (მდგრადი ურბანული ტრანსპორტის საინვესტიციო პროგრამა - პროექტი 5)" N1 ცვლილების წერილი-შეთანხმება"

D66!6&e[x or6iox, n)l? gqrl, lgQoJCfrant J,ldrdoiBc('c,lr! as 5$.rr, u60(E)ri0D(lb LqlLa,t*il, lrJtpb(l toq8CJl'Jq'c.(n (Esctq{AioooalJor',soo0!.,) (8q66!e()riia.E!Jq(,0t66,&rri0nt, b$6otOoo.nJ646!8t- Jtn!qb.,rttl @q(<iF.ltSoiqr,{3grE8cLr5rsq\}uao60!(E, 5t r'l) &63.E!6c..rr 0$3dr (ADE) .$'8.6.f,r4t D &3Qo6.f'C "8q66'qn rt'6.EJe' 0f'r8!l"irroot.! lrr.&*CnyF ,.'raOsa.t' &ec'(,Uqq$ot, 8ot6oo,, brCirioRcqt'rD q,i ADB-b a'6ou 20t0 0qdr 2l oo5'r,, t5go6sa! Arf8a, bNra3f,rqXs., (0C6a6.gao FFI). FF .sSjqY{,$.,6,t'[ lr$tidACglboaob 2010'2020 Sq{Dao 30 *<"r,0" $0 Sr{'Ji.$ oedcnd A!8o6.tav}ol, Jltq6rSd }Ila6Jl.l rrr,D.6J(n O.tD6lrJot60d, .68r6st\y'Jdjod'.li urE$l8olJ, f,xlanltJrldo.rrrr Qs''tC.)bqr0ryrrrJoBol,. FF -1, grtt'0qfDoo UrCJr,saCqxd.ts As ADB+ &{t b 0!ArrtEC0C<x!5 5l$ldb(r bcq'}$6!qds: 2OlO g(rri 5 io8dto[ ..a40/t lQo rfsr6rqh Otr'ra\!cr,O.tl.! tJvfC0l$.,od'r JdFianSo[ - ir6at&bo l''aN6 OoArrr,ClSo SOn Sz,S86,m (eJ$q,itfno, SE aqs S as{\,rd.r oAdoaot, b'Jibo). i(a$6!('rt Ur,,dre'l eJ6C\s'0r (Qrtf'!qgr)' B.i'ramlAo Br,6rtrraC0o: ACCr',(ltrAOrfn .fflro0jp!, (l (qilrio(,$')' o'6'qdrr' sjdidn' sG; ;{t ,tc"5.,q.O.o.. 1qalll'9q{"), $!J("'t 5rh',aras.t sr$r) q$J!3ao6cE0qb q6'n1qc!.' t OCsrS.(\rorn !d$o&rJ 8.&'c0C) 6C!&$d\yNbo,s6 - - zori$c"rrzr(fuJa'nb na('(rd, iatFrAo gr',EsErq. O6!Aia'60ntr l$.foltrB.t, 'r"xr6r"&i) - Jfx'doo 2- 'cN6 q"bq-Cr.- 6c.(.aC8., ('t aqs s qr'q$d,. r$q'.6 ADF (Ai'n D'vdoP@nt 4o.,".+"4., ia,o.l a"q.,"s" ".6b; r,,0 - ipn tO,i3g,m q" oCR (oidiniry crPit l R.'o!t€') - r8$6'm tr qxlqNd (rQCs't0ol.! l'd'bl"q&'6o$' l,Jd"o bcea$6Cq'drl, $d6mD6o EdrdrQdx oa.{xrr}6rboNaol, At(r' s?'8'J"q'f'SG' a'e/{Jf^'e'l' mc5,b6- G.,i0i; e" sd"4 a"6"Joc'- (Q$u,re{!s) ceo t "Joa"rcc"* OGFofii6 seuci'tq)oJs,J6 .r"i+tq," CoabroQcq'o OC60t rlr) .,a,ty0ro.'C6., bsdqnCr6J0r. - - iOrrt 'reC*1, rcq..0",4ry,,."'t, &r!n6!&l) - Jfirgbo rOq.n exn ,'.1.t "a<garleo UlnoSce. OrtA**'y,U UxsBobortm bNl,Jl68!Eot' .)€*fu(t l})lrd$(r bC$o. 9160(!!0.' o\5 &€y',oc.i.a" - n AC re e.'q,rdrl.l oQCs.tDoL l, Q$SilsSe,6CDCqn 8ladl:ituqntr AC6CaqrSr (Il0c6q3Cor') qt' r6$Jq{xn g$"5lraCt bt '-"'4"'q-t--CC[o,!€dr 6ri6fuD@ol, (0ri6c gDtr - aJll.r,lJ('(gs) ei,a$&d0D.' airl fc",b i6-.CJrs6,'r,t, .oQd.ao fir$rtolq(, O/6$i.r.1rtr l$.50dl(Jr,or,(r J.'r,06J8'1, - J6ocbo a" *s"r-$Jr" - 20 aq'6 re s,<,$'t .A,6.$.tj t4$o. r$filqr, tlr'd$'il bCq?Ir'€s'cDotr $"'amD0o "ro k'sd b.o'lceo En fl{g{BplJ t!aCa.."r!o. $6.8lad'.r: - iOrz Fe"l.t rs qo.iCe,o'r, .setfDao Af'b!60qn Oai$}Ja'r'Or,tr l$.,6oborryn &iqr6r8.r, - J6oCdJo 51 0,!6 A$d,o,C6$o - 12 oef Srrx',b ('{dr$ol, bC$o. .,€ff?er' bJvJie" !cg}s&8r'otr gst'ia(l$rx' d'''noNArQ g"OS,<96.i "A.e.l"t, arolfl d0$qr$!orr,!o,!6 (e$,'r-t, 3qdy,' 8rl3)5.qrtr') Q$vJ&r,PCq' $&rraoobC&,. Jdx,dO,5 - ljotndr Bn6$rrr6o &f'lDcD.t . . . . W*.r usa6<.ngs$ 22 SCqr' (8r, MrlJq.Alobr6o trtx'an 15 fteb)i b;Jliruc6o.'l 8!6qnaent.' O.,&x 6 080!6 EIJRIBOR-I, a's8roolaeb tsr'Jxf'CDreb a$O 0'79q lrxlbdr grqut}': S6cl; 9!qQc&!('Ca.i, lrq,rt.bqEqr, (CoruDitnc ft€): Sq'oU6o 01596 Jdrd0.l, t EE$(''6o.aqrDc(!o5 - lrr'! tsd.6oE0g r Of&troL(l,in ?rB''or'l,)c0.! tso6Qo' Crq"C o$oq'dhl' arEoorlqytoo.rlsdnrAD ?dr.olnqrrrnl\)t"sncld'0pJ.,$&','' Jrx'doo 5<b eDr',s(raoo aidDqt$Bl6cDoqn qfl o$o<rrx'U 8cy'dtt) r'C$'{rurcr!)!o,l6 (6c0fxrl' 6r&'40$) K'dy- 0lgs.&,q.,t l, ,p" ,r.ecqt$cr- lx-{90&'r,ona ar6$qo.rOs6rrlt EoCd' &C&a'r0t$Cld(n a3ff$ol.t J6i''0Cbao D.,r6J3)' .:erur"*:"t,.1, teai"rqrrcOr e.6*Cm65 .t$rr,hSl, b{anf(tlaoo(i Jd8r$.r$ ooC." acftsQCD,JF b,r6XqNd!.tb.,o, Sro,3!(xlet6C€(' lrYrr'o36$Ooa, g!U,, J.,m lvJ$olr €oqYt 6 orOst' ,ltto$6nb lCJBCfbd(r,Q S&flrloocq'SoU 0(ft6(!o', J.'r,&bo 5<r, $66qtrEa, ti,dB.<rn8ryc(Yt, o{oq'dxl, Scotirl, 6c$.{tt'Jjo.rr, J.r'ardodr (ll'3c6or<,sarn lrtllco&tr ar&{jgq!J) aD€o6s6lag8r r6afr}fr' l<r, Srt6Aq'XF8o l,rdrl']f{C(,rtl 8sn6f)d,tol, 2018 0q,(i, l0 eonadbb lizm 0$]d,O0qraot, q,.t ,)6C&A(ffiio6.ir .167 uqd$c0ob DJtr.)or&rDQl 2Ol8 Sqnb l0 qoJcACd, he'(t tucoCris 2010 iq'(n 5 J.gdt$rr, U+6o[Cqx'$. an 5t(r$ osC6roos0o) (oqlef'sQo r6!66rer' rr&J-r.6c061.t 0.6Jb aa'6d, U.)bdjbo hq€&dEqr8d.! .rdnd0rt 5) Nl coqx(r0.b SCt6.(.lc('DSE$t d/''.6!r'6ooL $6apo,!l6r!r,l.t Urfui5ocrrl lfr,6li.8J cqr{rD.l, $$6.qr,{co"6barr .rT.<rlrBfjlb $,adoo l<$ q,rt'$C&<h oNe.r, (,g'id,,e, J.tr6?C(, O/6r6eo .v'rj0auRn (,r6s$a,/6ob 0i€rtC6C0o) oooq'(tr)l, 0ooiiot, d,S$.{qlDo.rr, }6odoob nJ3C60r(lJ(rxr tl.lxjCAtr D&r@q\r) &,sCD.t oBpl, Ar&,Itr60a'rb.

aCd,r6MCbob B"60Cqo - ,5,iltJl,i",r6cx" ir6e;t4}6,- io"6oxi - ot'"66n s) xr g3qr{'cbou EJl6.{('.co's&tc!6tc' tu*Qrr rftr65 ACEoaAbJ 56 ANnS.rt lrfpcg)J 1,jdy6o,6cq,..rJ UY0|(6Oor -t"prrqg'.l,.et6rg*1, bs*sdlof'cr @6"ascc tcqaafcig"riO. o.fuososor6cbre'o " ca".&,&cP" -&m3Y Js6o6aq,CSqxr&,1, aCb**$T \$tT{-" -ts*]'ry g," ofCDr ri$oUCentr -6''6€q9'{$6(' ;;,* f,;&606.8" csq"eOc** fuO00o3 b$,Jo('8oJroma '"n$: bla-scae",t, Jv6q'i8C5oto o 8rb<'ob o'i6.'b8ia' - ;"i,* .l"a'a ac'u i,;-,"@"-bf,eeJ},q'Jq|C}JD"t ail}a)3],!Q' fkE€G'CDrir'585 l'5$f'oBCqxrr'' S.r6(96C5( -.rc.l,S,6c!aq'".f &oAlqx't'B6ClgqbJ ljid.fg83(rfr Cao6.€ofd$ As SA6fn eo tS.Jo.r!68'b t sCid,oS0(laf,6c$r'fuqr, --i.,.cJocb.'bi'r"o,roqc6.B"6"ocd,OcD"1,"3o6'ocEbAo'v6a6J<n0'ox'q'r ACEoo36. sd, 0)J5.'r aCSoa06) .16, AirSEoJ i!63@,.60a.,lrr A6 o68iq5bol6rd60a6.r' b!8oft,tot6o x'sEcqr,6o63" .i@8r,6"4"," -u'lorc"ag"'ircf biesdrof,ar Ac&&6r J6 0$660r Ar6(s36l Y6 0$160r t dy-dECe*n eJBt(n"gd. aC&€36J rd' arrS6oJ d.e.}d o'&qrirr, AC6oA36! $thoJCr$d q.6@o e-5.h.r&.'rr\ttol., 6rf,or altr .*"rq,.lrtu t 506!8r!",60dl lli ar586oJ aC6c&6i r.r, AJsSSor t

3 s4lcE6r6o 2Ol8 isiJ4ocqJq sdd Oinb o3rfu or3r$6o!5b. BdSbdD t*,5o$O6('), a. e.xlorbqbb 16. 0t ta oao<dro, l.rJCrtCoB9qxt JJo.B0CACqxa SoSouofl(, D,ro.'l6o.B!EC arrA!6oJer: saar: ht bo rt6lr€Eo: Oq,Cri.r.en Ueltr( , d6rea"6ur, Us.l5OCbOoOoo .6r,6r6!s! i6(',d0o 5 - t sl,C,bo toN6bQ&r, @qEq,cas {l 1_*cc6-3cry,o'- l,cd,t @{Yca.h ft€esirioso ',rdn'o"cs.) aroyi.,lc}J(,l) 2017 Fqhb le t$+6oBcc'a,lr! L6t CbhDcso') e!,J$mb ar6a;;r;t, GJU (Jo-i.f-i,o* ,co.atq," S-0.]cot6oo Orr,cl,Lr acoD6boc0.,) EfJ0ecbJlic 6.]roc6oEo q!q6",a. iso.c6jio 6r,6ae DoaUJbOl(!' 0d6&6COl, s,)s86oJo, ooo3J 6oR6C('oEr d,r0 dr|,.$56ot, AColrSbOCDlAo, oi-.r"rOCSOt JEJ} tbJag!6re 56 &'.,o,b.'su. 3+*".o1 2. &rubr8(xt) 2018 oq'()b 23 o'Ca,C6Aq{$ 2018 $qt r 3 oCO.rOr6U AD&d, &D6 e. 2OlS tey,b 26 trtbC66ot, &ro,bq6C0ou ArUrtrol,re, eDSOl.0CqCe .5. .xr.,6,Jrr, ,e$rir"r, C;I"\.cd! b.J-b". ADB{b eJoJ8J$Cbot or6lbErq, reooAegex) csq'nq'Co.,r, d.q"a, Ocr.,re*,r, is"},: .oro*, r EJdo.3 (J) Sr.f,}gr A! ACoog)e'J aCOq,C6o l,.rb.ro, o$o<blx,b SCo6anogq)C6ot, i6r!&'<yrlso.Ir (Sr SrUAX(rlCt Cb, AJo a.!io! foooo qD .INAOJ(I, -.(J) drhr,t C(doda'llJeC6g6ot 0,)8o$q'.t 3. D6qr $C8('o, &,oxroElC<{, OS(9o(lcoolD lDtydre,r aCo!6bqE! l Cf,, SSelcqx,. a. ADB-ob bx!6o JoEJ66Jr0ff$ e\r\)oJot, (P@) 8d$S$ob(, oEBadA{.r$ S!&,&XJ6CM5 e5 bro3qd s,o"'b$c, t lhubc, Qd!.6bqD$o e$Soqh @q,oq'Ca,r AJ&,&S6!pCDJ aOg-I, OD ACC,r,a$c @qt'qT6otj dr<lJao Ad8ex)e!6 dmo $drdJ S.6qq,aA)Ao. 6C0dSoCf,., 068l,|10!0(rr,) J&,e$ot, ACaqEb ririCqr8 !Cqd, PCP<ri 6r0o6rJgr,Caao fx'Urt 0 CU oJ6llJtq3i6lq,oJ A.rCl,bC\rr, a6d,. 5. 6d,UBo &Esx,or,<r, U'Clbclqrn g,JEbA.'D., ieharqx, gC6oqrFArx6bfu0ob &J-2 .}c6*Jao ,q6o!6ge $e'o(!C6rtC, r0 SCtq.,q"l, ot',(BC ri6.,ao6{ao fuaalo) Sooo('8qCq' .'{'o.(,$C h(Dt, &tftt'o,. ao$aUa, r{5oa6rE o tori.qol, Ci6oh o6oa.6{b eD.\).Bdlo q&J6o A6rfo6CSotdBd, (,) oCdtlqC eD!8if6oo, ADB-|.,. AJ&rdrA5tCE!(,(, o3q,oq'CLr drgrao ACor EJU ACAqEO, 6Jo ADB &neoSb rCl,bCi$lr0i6 bCe€.'f$ft,e 0iiqoq,'?Jor$b0Cur, q!, arL.'DoSCDrt' h&(ceJo,.EboC6ot) o3qxrqf0ob AJqrSo ACBCxtdBol, LrSot6l. SCqD UralfoqfMoao 3.6o0Cqr96ol, 8Clr6t(!c0.6 8Cl,rbCo. JiO.UolrSCSoor, CC65C6 qrdsb. a1qf,{g6o adr'*}Jdf,o 0C$'6.<?6o eu qlru'3(rd, rtm! q,r'\iloi6Cqlo r. &aolCqb Ar ACo$baJDJqxD. ,fi € 2 l":ffiSl;Sffi ffi**r" UgytoBC<la,t 'Bot, A$ &Uo l,ibC{,oo, lDhq{i (l0i5o &J,ig.6o.6o arSloq0llrlr: 0.)601106(, goSJ6t orJ t .0o6ot or6oqo: tOl2l0l8 Ofic, *rft."r, obr,.6sri6eo.,.i,, .oqo,oo b.iaa4',r$umnac6rMiox ti t\q I e I I.

Asian Development BanI Central and West Asia Department 3 December 2018 Honorable Minister lvane Matchavariani Ministry of Finance 16 V. Gorgasali Street, 01 14 Tbilisi, Georgia Dear Honorable Minister lvane Matchavariani: Subject: Loan No.36i7.GEO: Sustainablo Urban Transport lnveslment Program, Prolect 5. Amendment #'l to Loan AgrEem.nl We rerer lo the Loan Agleement (Ordinary Operations) dated '19 oecember 2017 between Georgia {"Bonower") and Asian Development Bank ('ADB') for the caplioned proiect ('Loan &reiment"). All capitalized lerms used bul not defined herein shall have the 1. moanang given therelo in the Loan Agreement, urtess the contgxt requiaes otherwise Following requests from the Borrowsr dated 23 February 2018 and 26 September 2018, ADB approved, on 3 October 20'18. a change in the scope of the 2. Project. To give effect to the change, ADB prcposes lhat the Loan Agreement be amended by deleling paragraph 3(a) of Schedule 1 and replacing il with the following: '(a) rehabilitation and improvement of lhe Tbilisi Melro including replacemenl of low and medium voltage pow€r kansmission cabling;" 3. Save and except lo the extent set oul above, the Loan Agreement remains unchanged. 4. Pursuant to AOB'S Public Communicalions Policy ('PCP') on disclosure and exchange of informataon, lhe anendment to lhe Loan Agreemenl wil! be posted on ADB'S website wit;n 2 weeks from th€ dale that the amendment becomes effectjve' after removing any inlormation that falls within the PCP exceptions as specified by lhe Bonower' 5. Please indicato the Boarow€ls concurrence to lhe ameodmenl sel out in paragraph 2 of lhis letter agreemonl 8nd to the terms of this leltor agreemenl by countersigning oaciof'lhe two originab af lhis leller agreemenl in lh€ space indicated below- Please relain lo ADB The one signed original;f this lotter agr€ement for your records and relurn the -other signed Blrrowers ADB of the dale receipt by on the of proposid ameidment shall tako effect legal of all fumllment on the of the Borower notilication ;ounterparl he.eof together with proc€dures necessary for ils enlry into force. 2 Oireclo. Ggneral Cantral and West Asia DePartment - A. Accapted aM agr€gd. B. Confirmod that ths amendment to lhe Loan Agreement do€s nol conlain inlormation lalling within thB PCP exceptions. For and on behalf of GEORGIA Name: lYane Matchavarlani Oesignatbn: Minister Ministry of Finance oale'. .4/ z {' J 0.19,,3c', J 8

bCUboU 6(raC6o 36U-GEO urtYJrbo BCotSOCb (hm(!06o3o o')C65OoCDo) (4Q66!an 3d,ur6!qr, Oa6frJtr l6OPt lN.,6Bcl,Ooooo 36%f'rar - Sdrtdoo 5) bJd)6 Cqt1,1t''' a! r$ool, brE3oo,rl6CDob 6.)63b Eel6oL (gso)6.tCbgqro, 2017 $q'.,1, t9 QEJCA0C6"o' GEO 42414 Lttd'olr'StcLr (ras5c'd6oo., BsraeobJlr'c lluJn., oif soodo) Q$oriaog!*'r' 2017 S(rd' l9 ecJce66oo" t'rC"'!o8m'r's "Jo,J6bod.t iaCaqOnAo. "grr+UCX-f qr rt(rr,6.60"drfC!ol,, 0$d' (t9€A8mt6o IDB') !!ltr'' lrAo0, 8!ri'o (r) ArCbbCDAq,b! Qr ADB+ Adrsol, 2OlO gex't 2l ogErx'o' (PooN',({c}gqn eEB''6s4'C0'b ir*aityc*ll"a e""c"o"- 10c0q6o6!o rT ). ADEo oN6$0sJ a'&€Bob av$tc63qrr Jtiob6!8ot' ui**OrG*t" qrg",osr,6" ae66sQo Uf)0)6g(r, O6r5t\lc'6oot' l'soqcboocfn Jt"'rdo0!nl' J6'aFre') glrtcec[ao sis'5br'|r'cp*r8(6 Gr,il; J--dO*- qDb5tsdrarJDqw. ooffoo! mv',o! fu'd' 7 ld6C0a36b' ArdrbobCq'S5 Jr6''(lqJq!o a$s66s8r$'tirqosb'lb 0o$6c!'rrol3'b'^D}l' ;d"" r;;r"a... d,ril bce6rl6cq'clot' Qtsvio' l..o r(oct'qn (D) 2ol7 (s) 36od0r, ar6rbo6o.rcltr rJ+vioso$$ 6c?rr'6J{sd'x, 8&oo5t6iD't1i ao '!ry{!do5i6ot' 'MDn' cre'rd ira*nfiil t"*O' i.'+i.cn*"t, oJstrrLrd6o ei6aoo"ric!'b s..rfun Cc0e'r'6o l'$'6'51'Ja'60o aL o$'{rt'[ nta]6o5 ;drlr t36,*""e"dr6* ogo." (|xoQa"6rrr 'rcl'r) qD bcq&rN&a'ai $t(rn MDF-cBd'' tict'bdi d$a$' foro"o,'s!" lTra Q. J a"ta- a,f'tdcq,(| ef,siOCo"tu a.coaUq"t AD&toBrr, arl)(cDo 3tQ!!.I5 a$ J'l6ooCM) tubCQgrto'i Qr ttJ8a"0oe$' (a) ADB o.6!b6$ 8J,ocl, 8{d'bdc$, l'al$o ADB<r' hmc,codqp Ji'\5rq',rio a'i6or, !8{c oNr'({ao Uso.6sdo<rl #&Co*, .c""dfi qD ^DB, MDt' rfi e's rrc ;.l"";0" ;dtcar6;,x!,-s)c6rqrr'Er6xuJs'o $act'rr(u3or6r'bc0d 0obcqBoo'' $Ns.,lt)e, ab#,cc&, o.SAQCso$ AC€QS$C: 0tb((, I l,rld,b.l l6$E(lror'Sc Utr'lt(a6ddo y,6!lil|o 1.01. ADFIJ 201? Eqxtr I o'Bf'oq' (''o"/'r&ClCqD hCOSCD'6q oJCt6lo"CDd'roB(l' l"ulbo r'mre!ooc0o') Tq.tcu'"'o' ti*;'c;"**r*r,"cr'"** &x*E!' 3sc*,e. e' coslu'o' 6"aotxt :;;;*";""d"t, '"i'd'"' tr"ec";t"d,3'g ucas<a$rsccoot: ffiil;;."t6ot". "tp"racs*r'a'.c"c"rodd, ffi;; ' E.'t' *#Sm"tHffiT'ffi-",sY1*Y * 3};ffi;k,;d"!v"n'ocE r''t"qc'.R'r."*'acc"aa.r.'ac.ca! orm"e.*: .r'c'gbrr, !{.sJrrtJqEDact .f,ar6otro.D'' anacqrB 63}EaCLt Ur}d'bo l?Jdfelo'!'6ol, g.ol(e), 9.016), 9.ol(q')' 10016) q'5 loo2 (d' UOq[' a{rBrqri'} 0O6o'5'D ,}3EdOO66o 701 (rio), D) Otr!&!6o J6od0rrr a$a* 6ooCq'3Dcqxr at6$&'t!o(,cDo'' JC6dOo l.m. rDeao .rt 3fu' o#d, t$!|n6ai'Ceo B,6!8ecLv6C Li'db AcoxftEcuso' Lrl b.t 86o!ftCqx'D' Br6raQcbrtqc Da,rta3,',gq, 6x'6 006&qU' Jlhb e$$& n 8allE'bqt' l,t0'43!t6'tQ' "Ogo,)o"C*opJr )6 &,,bQcbr Oci6a.'6rr, 03qbqrD5 16 orc !n6r'r6lxt 6;*i;, "6 &E35ce*tos 6"e$,ei""C Nr,am ag."6b€Csi" a.arsJ6cle$ etr'd]!''oxt Ocrn6doc6.r' rt'nb D,63oou6C0(lb , .llJJ('lElrJf,gorodr l,lbo(r0d€$CqrElo' 6'f,6!31') bbNOdg!6Cq'oCDl' tdubcb (2013' o$ao e6o a'r a6l' .s;*ri e" ol,-qiq'* a.c6 J.,e!(,O,5Oc"n i^t&HEclot' AJO!E.'q0 @qx{f,D3ioa,)r E.fi€b (j€ Scf,Nbfr6Cta8b IEGD Qr8'l6sd'lqJ' '[\lrnr"(,o)0m Salatr$f6Cb0Do' 3(d Cor'qfDrc!'lt) t4*rrr" o,r }1,[" 0.6"8e6lrrc arNtba$ol' al6'6on r-d) 3(b) Q" D) !d,Ju9r$e; S''o*oob0'b' r6''acqno 9:qY*'o!.l} d .DrtCSct el)o3.lox, td$Clo' 6i'6'01') oS J5't6gdl0'l$ QD vff' i'o,O.,l* eigq'r*,, tipsl arl '"O" ,p"s"'t' l{o ('5 aa6$o 1{o 0D}@rNac'{6) s(frri*,(or e) -er8,Si&,Jtr' 6itr'3b srtUJ<'OtrS0os a!So6')A'St!' f'oag('(\3 ADB-b ry-tryrta.(t" ;;;-"6*...il*-ta"a'r*-u"'s'q'<t$5c6a"r6c'stJtl'aslDEooJ&clq'lar 6Jt5qdb' 6r!6qnD(B so&)E$'acas Yq,,Y$ t'rb.l'ftb'.D' bd4isoo'' 6'arr''<5rr OflsNof13r'lig&'rr' ;.,r6".d* -aJ$€sd'' l'sJduxqtlo'x' o-oiryi,*, ,rf"s*Oa,J q'! ovJasJdtrch 0caoFclot hfry'0o' s!6q'5 -0"'a'*otctrl Qr c) ,ll!dd6ce,(,' 6intrBb rerrq'(nbJ' ;,; a.e,l.l.,,r, ao8rtrc6C6Cootrl $(.ih.('' 6o6i0b 'n J6o6o'nCab qI) &''d,bq6c'tt r-0o ;;N-;"rbrs;€.J&,qt\)oJdi Qc}g(,cDd' (sPs) ors o'a&,' cre)6o' 2-0o a'5 ar6v6d' g) .oloqr&'(,lo d6ljtbq$tu 0,rrdiorDd!8Cui) Y r {S06<'qot $) .Urt}bd, o,.$b&.pob 8ff,.!b3ol, l,Jbcqndg$c<8. 5d6$b ^DE.t' bc,b.l, &trr{ioohot, tr$3q;isoeJ(x'u (20u, s''ttr" Qrx'es{6't ?co'*{o B(x(dcboo!)l Jol'l{,' btC.6|oBJ({l, 1]&Y"*"* o) -MDr 6o!ex[, l$r(!6t' brsriotxr' or]6('(rlcq' brdr6olo('a'r.| 6o$0&'rd)'5:a *-it, *;** a'!'d$er 2015 oeor' 30 adod'e6'$ ;#;; a'rAR06.'<XEoo,i o) "MDr-d) e{SCqxDr" 6.j86!sb 2Ol5 Eqr'b 30 -*J.*..i,"d,*".""* .r) J^M' 606031, Jd,odo'rj oiJoftr('''l' Y6j,Ys1 8o'J3rii'!dr Nst8 sofurr: q6bq'c6rb' a!&n a6oaaar'c' a'a"*q5ooopr UsrAaeOSC<'*' acgoexso @q'oqclJDoo't rr$g{R q$ot!@3e"r 20tz ilfi ;;;;; &rG"c'oi"'"'dilc.'ie'ioir'a"'"*'a'crca<'t" Q'r')rbtoe"r' ADADB{r,3Cb5e*,boleA$.nO6iOorqr, "Ji$!6.f aDGoo,elio{'lerioq0,l5,qb r, 6qx'(?Df &,o,; ql) .AlgoeBC&r, brbJe{dA3&qEJao' er.68l, ADB-I aJUg.,AEg..tj trbCqAdg,)6CqEC& OOl5, OJr6o Arioqt)Attr a,or&{h 0Bq{{NDC&D): 8) ,fout(laBolob AC00s" 5.86J3U J6odod, ad13 'a3c.ot AosoJ'. 30 odoc'Eatr.,o, es OcorJ6t8Cbqi(r) 6i!&J<xts aJo!'rt {r0Jqh.) 2017 $cyrj C'J ADB{ n fiou q!) 6Cfubfrao @'A!A.L' 8g}&{h C0er{'C0C0ol, 0!oBrex$.rFJ0.E, 0Jlr$EAJ6oti lrrbcqt8de3s60(t't, lqpn€q\}Om l$bCqfd(3!6C({rl,) q'r ADBbo$ lCdNEbAC&Jqxl bbo! eir6.{l&trld, aClr$!8drJQ; q'r 6) ,J6oClOnb l(6$tnoeIhqrl gBCb'l,JrCtb('l 6eJq'JooJEoU 0o$q0oboB.,l, q'r 8d,ao &'lor&Jqlr, o&qqed(E, 6oa&Rb l!C!t6otcq{r, 6emsr(lJtro Aqoory6$.lrr qs .l68dg6dotrftrl, Lfd.n0iic'1,. )6 8dr t .lAr6orreq8eoqi6Clr, 'roocqi,O Ed$(cD.E ADB-oB.'lj: o) Jti.ldcrn of,,Oi6a8dd.,' &ia6r6t) J.i"idont, $6aq'c!ao e$r8l'6oD,clc(l, lbra$CDocl, aJ$otqC0N', S.lr€ootq0Cg, lrJ60$oqx,0Dcoo rE oJ0r!<,tfu|.s., 8.rir$$ lrJa$qlClCabi J) j@Oo e$8rba60.>Jq'ciC(n AES0o' 5(l8[Bl, MDF-I,, TCM-I, ert Trc-{,. sO &)o, br8rt6olrgq6&oe6Cl.,, t6cdC({,0 A*reC&rr ADB-oT.l, A'r Scq,r aJd6$o en6$ .J6odo.b S$arboriooCeDSCe, UtgAbJr'; ,) "glrssrsorbcrCDot) 6o6oooli.6aou $C$,.no' 5i6€1, axEx,ofq )66iddt , 6oac('rB ErrelA,Clf({rJ er 9!i{,aC6oet,) ArcUbCDqr[ &'Crt ADB-d,3.r,, 6('0Cq'(B retrU 36iid0.rt ar6oryr] sJoECDot, OIPi) D5bc60o0g!!ol,,16.'tallClrl, {,r MP.-oN6 aCU$r0dt'|.tt,6E ar&tb AiaiLlbfudaloq, Ar J6CaCEC'.'CS hfN'cDcobr 6)'SPS' EoaeBb ADB-.r, Ju€r6oboo[ot,rr<$oJr!b a!qC('c!$[ C2009)i b) TCM' 6(,06Bl, $qrC obqrrxr, Sge3(r}'(x,Oodrr, nt6Ar6f$ &6af.t, oti.,rt , d,a€Cqx'g q!'.,t6!Cfueh5 al,d$CEqdJ sBiE E0v6o€C(,(r6otj Jrradt d, tsJt6Aqtaao {610.&5610(rrr, 010250000.04.001.0161 00)i 0) .TIC &fi{t, oJl st0({{rxr, Ut0trr0iJctr60r, t8l$oJr, 6oaJ(,(to erBfd6CD!<{,! drq'sd s0o(!'rllot Sx6oodJs\loorl, $ooftOdr 1997 Fqxtu 17 oA6drob 112.17.67s qaq6Cfr,qrDoo,, i668Ceio0 qd'(1eJetio tOD&{xD Aq,('qi8CDo. 6.tE0q{so Js50.6o<'t f0$1,| o0qrtiob 89irxD Q5 6o€!(ql &rrlbdr8SC0,(nJ orEogtt olr ACott'cr, oJ0lr,oa"$frr q,5 &r3('J{c6)q5t$ J) ,TIC{i, eg}Cq$J' &iABb TTC-d' QCDOq'SJ,, t6fl8c({tr q!qf0ood,Jg{'r CJeuJ a,*'eaxt SoN0rft,loti 2009 9q'.$ 2a (lc6olx.o, aaoN,&'!*Jqs q':(6C6.,q'r,s N l6.26f5 bsofdoq'5C As[&t q6oanq,(',o ACO.6oqs o3e{lq'clc5oarr qs 8o6'drec8r ld$ol' d .baJ&oC!"' 66ml3u eJ6C\r,Dni 16 lrfrc6C0qE t,.OJAv'0[t ' 6o8qT!',o q' q't Jl6ljc|0o56 Q$R!'tr'cE o$bJ&,s,. o)o, Sol r &Coqaorr S cegcUr aoatoecoot l'}J&JE dDab $ l'rt?q'rfrmmear fib0.' arANbd,CiCSlr, l6.r0q{!o0 ld6Oocq{DCa$ ,6d'?O6r{9o 3'<A'CuJq'C6ol' 8!'6sqo6!o, 0.v6Qr l$J!6l'rqtj"}o(E 8'fl'Jb.c6J8drJ' J'5O6dOol, ockb2 td,bo .brdOo 2.01. (5) or6sbs$ fuJo(r!t6.l3. J5J.r''qf,.' 6d€6lvJ&ps6 &l,oCt, ld$o ad,[CDcqitC ^DB (€12,0{rc, C{o) Ca,atl, .'q'CEriE,o. o6ob A,)aA.qsrri.qDoo' tio6 U4666gqn dt!6b! oxrr'aCoo &tq{r{'l6., tClrrden! e6!'esa6, Jo6Aj6o.t6d/J(, .Fd, oqlcodr Jrlild, &aCqaoc,' B{tr430t6C lt drbo q@ftaCEoUb6 Jo 2.H., &'oCArqlo ad'cqrbd.lr "J,.a*rr!Q. (t) tlCtlb.r, do6oot!(n or6bd, aJSrhob 3.{Pr qre606l, 7 hqr,, k'|qE l$}Ce$rolo Jc6@qn s.drltq3ri"(rrrB[secDrtigacd,rsE$olt (ddo]cEdorot (d Oor'€d., .afiioox}i6o JC(nr|ao', 6o8cqho $&'xJPi}cg!' 16 EE(t[ (0) JrEdOto SJ(rrrb8c'd) 33riooQt, t4tbd, d.i6.'orqn o,l6bol, a.Qobe.t Jori3o(' ot'6d\4'8ec. ft5ldeds6o lCdDobsdob A,15160, 2-to 8ocrolED td$'i, r8clr60o\od' s6JBoidi !d,!L*r\ap. Jrqoo 2.02. ArdrbCDsq$ 36cr Dq,vJtr Qtrll.) AD&U Jrl.|0C6Oo dodxErao td'bol' r"'Jr'PJe at q6.Al(pir,ct ($rl8Drfuo o,.6b5tC orlo,f'fiJ(n J6irOfEO.l, orq,&x* iCd'o{'..' Ai6r$Csrlot' r6o03<rto ai6dirtQ3(r,c}) Adaooo 8*JCbct(rl, xr&r,: r) S6.alr6.,i 0) 06096. fxrAod'O Cb tflrr$(3t'cqrD lrrL t(. r6CAlqrynDo|' 3 m JgEd@o, 6)oglJel}Jqb OJes0Jdxfr S.5r$fpn OI()9G l6attr6o dr Ai$JJtQ3trlqxD bJd$o f'!6Ue,sooC[6b 3 6 .)Jqoour e) d o.2(rt tl,Ubd ArErq.r, 3.Ad} }tQ$JbgJC"o' rcr,attd}o d' DEI!tQ3ti?q'"s Lrd)t.l ItJouq'laoaoob 3.(B qc6C0!o' .yJEJOo 2.8. ArJ,bCac(ns Sqhaose r6Qs Clast$rQ'r) O l'r'cori Ooqb 3r(E8oqdol' t'Q$b!baa(!m' ,rCsx, {e'({n"0b3} ba$) lrdJb.r, U6fir s,relq (&'6gb Q{6a|arQril' I'Bobdtrqr, $I$JCErqb F6rSeC0v6C Urd,b(q OCo,SsClot, JfECOo 2.04. bdrb$c q'vioobcqn J6arol6oo qjcr,6obr3J6 iqhoSo Jc '..lQcDoo d're$o)' bC&'t0C6otr o'!'6Qoa65 60 q'g{' $Q!8o' s 6c0ouq6o t'B l'rbolt l$Joo't'alc&' SiQlwxgo JFe'5 15 Ar'Ui q'r ls 6oC80Cn' gdBCqfqqr6Ja' J!6 p 2.05. lrJJd$o !5sJq.&{g}6 6ic'd'bi"soqo l'dtob ffioo,ra o!6bru tucbbcDJ$' e5gr6s0u **"aqavt aC.xOOO.* Q$J6on - 2 &to0,A('o ad"qCDCDol' adltoJ&r}la' 8odlbo3ol' l"ubdJ 6'J8Qso Jrqoo 2.06. (r) Ald,bCaCdr, qodqr's !P6rnl' 5CD'$so96 srnCsooo 6rr"ou!l': r,rrrcqm ogn6qt, oJotr bc(h !m0lI" td'bot' a!'6q6"(' "Id,ff;-"a"o).tt,, ootq"'6i) 56rto(rrD6€o' 8ra!d'b.'3i{|.' qD yco8d'clc(rt 16 0 ' ac03q'! era'mc'a('(| 3rc*ay'o'; ar&€lobaBo lrd,bob 65Bqob 3'€0d (ii) rdaoboD"ex, qD q,t$ti.JECDCq,o b*bol, d.6irltA., .'raoftaD.l, oo,q{N5o $ 6l[oq'(r6tlrBo or!6bd lrllrtrllo aorq'clra. Ulir6rtg60p ArelJ3oorr, Eodx6c}Jqn Ar5UCo.o, sE Jo6o*to !C03q'r; (Pr (iii) JoB.rJd,Xb Ar lprCD6J6CDCqn hbbd, d.{t'E!An c|a05dt0d, osry$o $ E8(nDttoBo o,$bob oCq\G' arsr&Co'bC e&Ca.r, AoEJbCtr5. @ssA A.EJ$Co'tc tiJ'6rBr5ol' a,$r$cl,,dr IrCAJ !6 ti}r'ru96oo DEJ$Joxr} &Cq' t(B(,.r, Q$atCH, 0t'o' (D) B,6.ireCs.f,C axoJdrr, (5) &C'}J io.t' onhbarA. 6r0.t ry, a3('o<'Cb. 6('6C((,G q,re'Ju006,}.qra ADE<tb OoCr5. 3fuD 0.&[tte06.tlJ tr,aryxio "Jo63t6lr's' t"t{tru'l '6c0tC{o"rD.l' 23t (d .)C5Od, aSU.O,)Sdr{e q,5 dlq'So aSoQCl, ltirdlto 6C83esOoC6'1, 615 eCbqr'l' Qs nft36lrxl' lDboqtd(3$Cq'ob EolosoA6oaob Adr$&rrrQ. SabqD 3 td$ob o$d, D&llgftfo Jatdoo 3.01. 6l,C$CaC(- MDr{8rr, WrrrsfrA'la' arbeol' l4tbdr otrsJ'' 'l0 &6oDC&'oD eD 3"{pCDt,,6.roq'g0",0a"s"y)Uog.,$he'TDADB-osd'qb3$ttJocc('lrral"t6oaMDF-8r8o8sl6dxrl' q,rryo8flclqla u')ctrua aJg'reoco'l'r cr b$fud' 14". t'*lrqo" aCoNEbOCbob a0a.CqEh.ol, 0d)!L$ldra. l'rl{it'! Jr6dO., 3.02 bClrbol., drsot 8rS!,9lr$ qD $Eoo*c,|A rF{P' &!heCl' F6tra,clar6C 3<r, Jdr,osCDol, adr$*r$a' 6c|OCqrR ot,cl$J!cq{$ qs ADBn' 4"6'l') !C.:6bACD,,l, 4.6.,6.- ACo,.,eadotrlJJrcdbc('tCQdnarQf,odo0EeClv6ct'5 6oec[J,,. aio6 A$&!C(YI q(ltvtlp<lr S l'$crerc0dol, ad'soq6ru' ,Gfurq,$'d, adb't6?acDol, esbq'ck'o' Da8rq't'9o6CDlqnarNsOCEot.' e!6i6ob +'r' ;reE"--EF." i""8,,6"S1ed, hrlb.t' o!6boq{6 B$raa80r"C o'J !8 6otuq{9c oco*i**.iri oma*",t & e"atou"c''r' aT - flEo6tdoot') Q'sitrlE '0Lttc' qe,teqry u;b"eC!"i adu')eo' ,,c &,bQcb" n diCDCCJ! a'J ^DB'l' 'lrr6(t) o,c Jr'56r6"dorr' Jo6a'bc'o ao arq'cbo 16 o&cD!"Ttt6'e" .:*iilgocoi ^D&oBd e.6\,Aqj.Er(dC$. AvJ$clC(lo l'Ct'b(lr d,ieslqg!6 3.o. oA lrBWi6rA rd' r6ot 0ConS€OC|q(l ADB-d'r6' J!6jOo -;#:"r,.*".rffi&t" 8b'<i'a Q! e"q''Q i.i.'d|Cd) 33c$' rxaurg$! DsaqEB'l' Jr6COo 3.4. orJ UBt3J6!a vi i6d, rCo"$bao0l(Y' ADBoJ6' -**.- * u6Lr6gorqlc0oti 8ot6od,. }3Eddo 305. t,ilrd$.' r6$Jq,ss',cDd' rm ;ffi ;;tu*";;-"*" ADB AcdNEb6A0Dor6. JJqdrr' adirl* roro k"'r' rs "os"r'" &"q'sJq'o Y'6{i'll.o:a'b45"' 'rQ o"r"'e"' rffirq6co &cbbs3q{' ar s ub3r CrDqD { !,f\,!d,lidaR't '!di.|DrD.' qCEdOo a.Ol. JtilelJ.$ Ss.ioti.!(lad}' a$ Jd|l'!rljs'16 ADIO!.6c}Jq'(t l,r'lfo.sr:aou $ry$ I6c{$Uao. EbClrbSiq,SJ rFqrt lci,t6'Jqnu .6 JtrtJqCqU"l, f.f.0q'rN6C UrbCUtr' oCo.)EbOCDob Qr L'&ir{dorr aCsN5baCodi qD65tio, 5-0o &'OC0C(h g30R'! 3.)(!E}Ce'c6.b ACbd'Jqdr }g6d0o a.02. a$lbCboqm LsCp<,SJ] anoC8l., ADBI, s..6&rS.etr6C(lDti acra!l$A('l6 ]ioddr,' tndo6r(r' q!' l,.srGFcto, 51,6C adr$r0olro A$'{C6c0o qD aoJrqSocao. tCoJOo 4.ts. ADB ,l6c'dd.r, tqxrC6 ,Jq\lFii"ql al,afiro !6o.'daC0!t as sU(rrytttJqr aJ,J3OJ, sr6sbJr6o .6D6.nlranl, aCtlbo lsJaorv6 $DagctiQtc aso.rq*$6C8l' ^Dln[ qrqlruo|Crnc&r, &!(doer6 l{ A!.r, t$atq?$So. }3BJOo L0{. o,rod, 6tr6q AS,bdC(3o E x,aCsb rSCq'r l$3.6rl t.,oJ,' r6!d'r J6a&lo''t' aJ$.r,oom0cds loln0cDal lcdgE6 tN@fr bc(o$lide'soo, EJdrr,o SrqQc.ig'c'C0ot, aCL6Cqf6! qD 16 JFal) 0$rba'6,0r'0qrtt, )G qtnfrJ, .rros. EofCq,Cls. tffiCqrB lCr8a6bcDlt DS0r6.i6ooCqlacqr,J0gfDdraort,6JJ.116(l grq{ctlqlCDaD.b"JitiEg'gbllr 8rb(,(,5 alq"to adi8qo. JrtJf 5.0l. bJrctbl' r6rogq'roa[ob lo (x ]cGC6'b 8chlD,trol'rQ' F6iE{9Sv6c l"l$bi'| lco'r6b8,6ou a.c"O. Sd{$", "",,,oe"e 0ia$kA6'Cg,. F6rAaC6.''iC aCo')rEtECM} br@Ti,(9JE 90 QeC qcb<,o 6 r8(lCco8(tt'oeilot' Deloc8r 6!'6!6l' lt'JJ4"6 r60qle' 6!'d 0s5 .,J6dOo 5.01. AvJ$Cheb FErAq$y'C breaSitJq".oo MDF-b aiX-,, W*AiCfi, .*o S 6oog"r"a"* ss!'r*dt" acsDesc'D Bfr8ql3056C "'JcL' 1c:PqnS qD 60' sJoa!(rt)$''ftngr r.mi:.co 1gr s.or 4O3gp G,J urrCrlu'63s0q5b0pddJ 6 01' 602 6ts J66o0Caob 0dr$r&r$Q. ncECOo 6 m. MDF r$ &Ed' 86tseo65ric lcdx6bs$ob 6 01 ')cElorr' "tYr{'q Tl'hD3q" 6cto!6qrio 6oeC'€eo 6rd'sod6o H) 16 aotr sord' b'ts!'d8c!r({, #J6"*"r"n e*ae;* o}lore rr''{v't6o &;; "&d*- of3!D st'd'bd<r$o8'l' cD %'Bg dr<" eJ cedo" cih}'' O.yJllbd(lol, 0.sb.t ,oocqoD|cq, Ch@aDJ'' soC.6 .}3ECOp 5.C. B6AAADIri'C tCo,.Et&JD'l' 5 Ol J56CO"o' MDr-d'oBri) ;ifr;l'Jr"d,;."""s'rr odrtdet ao6oit?.".-:I***'" e' aps+ dc r'd aco'rsoc!"b tr'gs&c<'!c' !6bqD 7 $O!$*tor JCqOo 7.01. ArArlbaaqtl, ts 5r6toa 0o&f$/6o $5la$Q36f(x!r aUCbbCDqt* F,'8oe{6C5qDe l,itdtb.' 6c6J('!coo&'b 12.02 J96ddPo0S!t!0CJ('(, 8oSgD.rldB.r.,. tCFCdn 7.02. b&Ic, &rog8Jqt(', S.r$E.,oEro af,5k3eJqr' lj$d$.l Jo' co.t' l20l 6rF{oo tSlst('COJRx,5 Sot6CD.rrd€d! AdtbCldbtEB.ll: !$C(!qo8o 3{rrD Ar) b.)6!6Cf' Q.8dfl,J!.t} QC$6oj6C5Oo Srsr6lra,r tr**fr06o a!i60*('d, ,CA 16, 0l Ia, o:nqnto t$t6ot0q,l'l g,rdxr' 6oAC6,.': l'Rs32t22lfi aBl ADB-[dArb: rtrx$ rft ooDl6CD.f, br53o, rtrr, Ale3oo 6C0d, L$Jolr uato6o 6' Sr5e.('or'50o 1550 ao06o a*(r' gldxr,6oOC6.x (63D 53e2{+l (((}2) 636z}0l rfl) aDrrJU6!4D0, fti6c0Do s.'f*J'co 6' dracsob YITI:: "*Y'D*'* ooono'ct'(' acoxtbssD$ tcac'o $c6'1s $ssEQSv''c rsuJ'bo $*.r;$fu;-t a*"*;. bc<t &t0oaCLr' ADB'd' l$o'J'r ,.n'n& alr:rt cg63C(rJa8d A'r,| ''!s"ao' lrsilr'(,8Cq'(lu tirbCqx,g, &AUJi b\)dC 8o6r5t''s 0o5'f"J6o JtmUC$a.,o,!rrC6obLSJol'l$bc({ta' o*n Cq0'6'J5"5eft' u'ird,o6{qldo fuQ&8o DNEdg$Cqx! e'!E..ioo I J6'rdbeh !dtn) l. lvftc\lrB.r'r J6a'br6JS.l, sobtur Jtl'Jfua(UdJ m*bo$o' Ur'€CaE q'J bC<'eT hax'0" rd,L$t(x, t sortu5t$lrtrop ofu6J$ltJdolfa Qr arsl)bl@r 2. l$.qC\yBm r6o0r6r8oti tsJ6,6q'Ct8o' Jr6cdoo a't&'Q d$b{b C8d0O6o' b!fux!' Cbr86obl.| ar bcq,a<rDftQla8o rD6)6,Jeh L\y6!Arr'r!0o ac'6t'rbEo0'ADot' 5$CJqc{!'J.sJj C<'rd o'&l(x'U o' 3. Jd'odoo halagls: Alo ac6ol' , dD.qdr,b aCO/qoJ.{YSC6ra r6Clb.{rrJsoo Q$ A€qac$rbCDs' soo6J q,r uftrqn dJ63ol, NxdorxlbJa$Sot' Darooq'r' l,laSor'q.so'E lxl(\l€&'lr 6C$((qJDOor, 0s adiob l's8oSooq\]m I"'|'OCOCE.II' 5ts({,cM, C,rSrsortds a,s lr,rdEDor 0) o,o.'qrrx' acoiar.'eodoetu EJ6&r'rl6dr'c0otl' q'r 00SoJr6o aoEurbgiiC'dr 8s A'6'rr Jto,b.o TTC<'U .6looooor€tu 0dlds'cbq,'DCLb t!d(t'gf'CN tu6sC6d.t 0.6d8ot Ss6&r, ?C85AB0L|I eD lpr 0$bdt6ooC$r''b d uia3ari"rD.b bcalecacc({HrdBo() &6(.lrhd' O"Oc$rltf,.* tsoaf,afx, vCq\Jrr\ AA dt8l6o'bct3.ol) 6od'AJ6ol) eDB'{'} 6!S.\lot6.6s.r, U&dtftCq{r'u. 8rr'oBdiJ {. J{n(rfiil.l, Artlr6r<}C0} 6rOI6J3AAE '! 2019 S(xr} 3l q0$80'iollo,3d'' eaSyioo 2 !6o60oi!Cxtt $6.i.,!P t. &Soo, &roJOJq" our,qao 8!A,Jt(3l6J(rt5 ld$ol, dx,o,reo o's$d bi(''beo[-6,.frl(JDo ii6x's,{po sD6bot, Jdn0c6dp, tffiJ(itc $QJb{gos U6Q'- od6J' fr,p"r,-d{'is" o0 agsob3$$o' sr, i.a.i{e" s.uce- OQrbad, oN",Qd}rdry$ GtrJODE" Brq') "^o*1, b.tib.r, o,J6b.Do 8o{rx6{9 JEQ0 firoeo$' rdErr}aarJqD hltbd' d'"6'!oDqn d'$bot' oa.ffit' f'oocex,o d$"E 6" J"rtCq. d!"bs"lr.r"t'',e.s.44,, uot Lrr *'o''"'e" dl'6boti SlrCbtogr, Sq6 fEQ.) QrEJrd hl$d, d'iioo"Qo or&o$ gdBg(,(' 0lQrDAri' Jteg6Cli' epr+ *'tr, 6raa'se'e'do tal (r) Ld'b'[ do6ito'wn sNsb'r] &'e,i-g* 6,lo.*J.,dUJ(- Derbarl) oN6q.l$oU.r, Eo,(hs'e EBolrCloq{ Q' qsr8ll.a3o . r'Sro'lrr ont6<'g.rDo8"] i.*#,e" iJu' il a*+*.r, Eq'to dn{i.,oDqn on[b"l' s'Bseh arq''bqrr'R$Sot''ard'' 6roD ld''sdqrDcqnr on6br ,3o.e;q,",6,r, i;!.;6"0" ct Ue,lt$bQcq'f' oNryrl 6abcr'aoc66 qr{ !$"$ s'8qb"oA\ JTECODo d;rpd; d6rsreclio 4.6",',.*t 6oSq'CDtCO StrOCq,Qc0! 3!(rJorr, Dq}J"bQc('" F,e'" (ai&\Jret eGao) 15 A$!o 2033 7.142857 l5 6orAd36o 2frI3 l5 Arobo 2034 7.142857 15 6otAbt'to 1.t42857 20lL 7.142857 7112857 15 Ar.nr., 2035 15 6alsA0rd,o 7.t42857 ?q! 15 arolo 2035 ?.142857 15 6eraaD3d,o 1.t12a57 20q '7 117457 15 aJ()bo 2037 15 6(r1aad6o 2037 7.142837 15 AJ.,bo 2038 7 l42AS7 15 7.142857 6clla0fo 2038 15 a5ouo 2039 ?.t41857 15 6oi60rtr,!2q!2 7.142859 ta- 100.000@0 2. .8 alaa,b3srao, d'J lvJ.tb.b oDeC!' Oo's'$xe - S rd''r' $rA'o$'Boqh do6'o$qr' o$Hr a'J'bdqrr' aoc6 qibb'r' dorr,oN(n ;e$,i;.Qitt6"dk'6ooNQ's'J6btr'!rq\r'rba'ce{or6brq0'6QcDsacaQeexi6'Q: d,lBC!'b 6rB{n 0$('o*cB('({D dot6osDQo oN6bob (r) * os lrAo'3CA$o o'lo ltJi'[' ;a'bad' ;'6'ei',3*: avlbcrN&os $!'qT!!"'l' -dry{s;,.s,f:"6scqi s'(D"bec<{ '6Q" q$s"rr' t$*4" "'v""q'*"8'r' } (or ACb*t& 3,d;-TesG" "; Jd6eJen J36Clob 'rA; SrlbqN do6oa'!4" (s) 6J..rra.,C6o sJS".'b,?3\ 'L"'ded 'ry.""t*: I:*"*' - #;.;acsae *i'*t,g3f-Wm"Wffi orrcnoe0o, ffiCqno AlqraC'o "-i;;' **^"-.'""";; ffi un'3cq. "r'@- Do'on.goq'., sD6bdr b'al''ra<CD.'o' S.'qlrat+ iffiqh[ &i6ob3cq(lo oi6rlt l,d'btC- c]Eq'!3'63Jq'o if.OdJ f"q.,-6,.sc(xt tis,.tQ3eJqnJ F6r6adsdtc QJevisxt' & .'rfuc(' #CO!" d15sp Oa.,sa", *'o'-"e" s'ie'{' rp5"tuqn a'a'$s'r' ;iit-'g.1,-Gditocg,.3.P"t"'i3.('(t }J6lopsob F{{)' bc'q'$ r&t!36c(h ofc''r !E (,,;"eao .6 ;S 0'16,'4,r, qAQ!A eo66d"q'(| d''r"oorqn- oied,' bre!)bQnu a+,s"o,L o,BQr3o6ccqto af.t$Egbol') X50o' I {Ff"a i*vipO"cc-es.a"* sc< €6doao afuq(l fuDd'Docr*' onecDol' t&ooB\ ""r.ncl"l, ;f"66.,ffic04e. ollfto q'ragcbr L*'@' l'J3#oc0d'iac!6' r'rdD &'bAEt, r6oS(lC6tSO gr60Cel(e00s SJq'JOT$ 3otJJ@'or's' " 6cqci,c D$b.6Oocq{'J ao6'pNqn oNS'r' JdhCq' AicltbQd' orvr'{6648 oti'r oaed' o*lry' $arbe'"') o'yr.q'$o€ott il;;'6; ;.b"rr56scc;irfl" -@d;t""Etdo6ooDq. qmr &q,ll')${n o)6bot' 6$?,osqd' sotsoor'fi;;G;*..tJ', et":tt'P" Ar arQ€bqlCcs. u&'o'trUob d)tt6'qtPt6 ,ndnehcm I'n?rr6o EBdrSuJ(t -"",".rgr,"-vt, a!'scbr DquDba4n iraeia; ro€"jcodr or)dhqol' !c8qm qD8(6J6o &!6''o'rqn qDS$!3q. ;d,"d.' ;6'\i[ Fgcc'" 3. DAro,b.7.It, 'ffi;-;;d; 1-:'Y-9 sN6bol, WqleeSo Sr(l'barl, ot!ai(,Ro('rh' a. - &[baararQ $ ('r5!r6oxt Jo63Cq Qo S3."", &16rt/iAC!A(, Ad}Jqb ACD.3('cDc0.t]I r+,t,i, *,a-"e"."oti'u a",<'s" * a1" lB"qi g1q1gye grqrol*' J'fu,6dr@9c* e*odmcuc(" ^J*i,i,- **in '.rnu'lr, d",,,.;4,, o'.n * in'ft't' aot5"o' 6cncqr6c a{sbsri o'v*'s&r ooc! $dDtegflrq*, ;hc."o,m&, W.-q;-*o'oq''oo'5e&fE!e. ^DFdr s'$b''l' eroi6$q'cDoo e$'a*"'t"coceo 4.."\,iri#*ic."ot, ofoaffo' oN,6L* ddr'no'"Q .(nFadE$a aiS('al6o a6o<rr6: (i) 8)ca(t'o' f.ft'nO *Ocq"U rutugl') g"e!o'r' o"cc ;..r$a]'-ri,e'-r, $aiba"o bq'cla ^DB{ -,Gstqr"a ;,d; ssr"acdao, 6oagq{'o e'J,l.tg!oqD3(s -Jedr'o3<' .n s*rui iraiirm.a", o'5 ion s6oa t ,es*lcoo<xAr' a.",ectti' J,t .ro"Jap* 6d,rDr&r,xP' s*'obrQa}Je DBc{'o *c61'b #iiJG qdry Hffi;';T;d ffiftG-lil x'i,#,;'J;#;; H]fiJ,"sils il&;'d* 5. o'3 lrct$.rJ ldaobclc(x' $, oQ:ab(Pi(s 1"Tlq a''6ctu(.rt -o,q) qTg:-:Fb a6ocq'3ocDo orq' lrrvXrto sxEO$"' ra a''6rrotao d"€.i;.',6dd.-d;C-h6 gogg(l r"c'8 ,'*aiia" a$'tq36cq," -dN6b(Ij.6o&'E" d,,C opqJC erE('qrJqL, bd,bd' ti&[-tfr;o.q';].s.dFtn;0!6d"'0osatceol,co,oJ6ur'o's'b' AD6sr6oro 3 lrJrdrbo oleaDob s.!&'oboo eo &lerD! t 'a""0,, l. Br6.)sa,Ca.r6C as6r.6od, 0brioqao A.dnt{dt!(n, .a tr)62€0.,, J$oc.r6€6o, 6'!6e$oo f6qD qrSo6.firAd, tClrbot, 01S.,A06. r06coBC o!:o,a'c,Cch l51]$ritd*dBol' O&'3l'gpqn fJtq.lq'.,f. (8oox'o& "&OCar"'rD'-tC sa Qr6$oiao {6'86'8t 0b'iq'8o Eo0r0UC' "rti" .t}0otflti(I'S'). l$bgl,bo.trv6.eh!6 6r5b.r, a*qd,bq.tl l'5€r+f'n srEoo$.,'3') b)lrrxdnb i. "rC,rorU"us tug"xert'np v6 oCECIt arx6b8Cb3q'o, t'$bol' oD6bcb.'l,' itrooUqnqn J"OCtr,@.l, &,bc('3.o, Qr si0.i6o0b3r ollbQCa'r cbri'<6o .t6oaaSotrqh 6rr6g6c6qicaob b8Jdoeft& J'OGf"6oCDob ir6.'l|960o.95 3$i6glf@Ard, 6stlshcfdfE -TE3oE q.- t 5b"' i"6gop&"*"s* .tdrb'r' r'rscq5"t' Q' 3r<-aclrpcod u6s,oe"e." Ii",0c$..r Q" sJqqJ.oqrkrl argrl!$gJq'fri' accdq'cD5 " .l6,ACd' Dsbo6oqq10ol' sctarrq<ii 0'68!0qntio ADB-u ;,i'"s.6li,c;e"e ild;. "6rFr6"dp"6 6";0'6"" qD aEbbck{r, L$cq@, oNtr'l} ur')"60k'o(P ssarob'aol' -Jri"rOSO,r" pd,bacict d)"i.tt. uir,ur, Qr 3{4e,ihqlbob }rQtirbQcq'd's6 a$J!0ef'c"J(n e.e$r62tJ6d, eot !e)ti.a E$.,6. lt(t, aJ8ltrBrr, a'io are6c''r' 6clgslgol -i. @6q90.e sbf,."q{" oa|0cfu(h ld,bot o'i6&r} qlJ a'dr' 3t6(l0s50o(s E$S{'cEd'r' (r)sIJ6c0d.t&El6oJnjcodrdljJdBobss&t{r1soq'otldlbol'olo&rr6'i$36t6drl,reo!"5q'cbr$ ;r.f"oir, ;q'" ib;h€cl"a" q[$sr'xd, a$,J8'6'f{Dq'ra' ^DH' a,}cub0Dqxr'!"Bob Ltlr\€am acsoo"or$ odrvd$lQ ;;#b5"r.$;b.d* aoaoaa oJJaq." fO s Jro0a"6'"r' l'ct'b'r' ob o'r6cr'' 6ooqrL6 l'bc ;ffi.*".n;"0.'fo" icJ iOcopo'"tc "'rn", Jcrid're a'L'tdnar'o' ri s'6'r' ,;;;;,* ; $drue,rr$.6rtue', er rsylqlri!'Je'54 ^Deolr eo (ir) o! rt'3oh 0rar6riq'c!od' 3ctr' iltL ,".t "*"E,i*irtn- e.r,"e*si'c<"*, r r0 sst'c'"' ADB<b q6\o Gcq"rg o.;i{,qbafn' bf3.6:l3pi Qcs"oqyr, ;'&; ;;; -!3$sot dDoN qNfbot &icr$Doden tu'b6chen' JrO;,"r'iil o-13.!al$'6c6pq'o'i5b'r' aa'iarq'Qd,' lN6o8 tosq6o@o aroDtr fi1fiir,t "-' dR.!il5ob3l3e" ql,Boo(\)o )6 h.3hCb!| AD (D) oro rrfC(xtrC Jio00o6.r$)oBol, oiA'gc'goqD l"J'bob otSbr r(cA5OOb !6 J}oCO',l6(rr' $cq'! ;-6,fii;i:A;G&, ,c*.i,r,';pr-i, accaq''i' ad'bcoeu'rdB'r' acd6ctocssart 6at4fttt aCaqCa, *rx, treOcOo o).Or bbo! Jromrri'SbtC t{'i!E{oqtol' itr 6.'sbd Jti6og.?f69l.! ,i.Q J6 oC6dD 6rd'r6ba$rqb' l':'$'t' Rtr'!6(Bhr a'6ba'6d'K"Q't'5 ;-;;il;iffi qil lr..5bC&[ e$6oovJ'l,, l$bCq3d(U$Nd'A'J$trrl$Q' 6COrEidO.!6.' 6sS.6sraLt 5. LrJltbo s6urto&{s6 sD6b'r') 0rsrob'85 a{r'dq$! $e'i"ooJqanh . }tQ""''3q'" ;.F*$"r' r"C.E(rr,- (!' l'\r''fl'Cqu'0,'- i"'A"b''tSD't' ry"PYr, xffiffiSGqiffi ""oiit lr,t i, d,rsul, zocFrri *bo0r('J6ob acrabs6b' oi6$6 3-ol, 658ilr6! trdn(' $$t6o&,466 oi6bol, Sr&ro'bogol, Jt6.'Gr6orq'o B,eo q$.tiaro { t!&'5(xr,r bec8trlcDoh Qs t'lJrfinR|oaool', 6.'Aa!,ct'c0o1, ld,toesr t-..* l. lr.@Jqt.rt L$Cavi0id,. e'r lr5JoarJqtryn 6n0rq6C0.l, UlS,a3. f6eo A,)e.r6OoN\PCt, OCIrU.{BCs.r, tlbCq'8Ami6g(r',ltfo6o(rb8ol, qD U.f'6lrf$3ro.rt lr$Cg8d$$geat ,t6.6o.nCldl eJrrtrs8obia. 2. orC ADeUa,r6 Ub0.r!0v6!Q !d, Afo,.re8QCDs. l).reD Q5 tt!8larrC0otl !d'{oQA! er tDJrl6tloq'orcm a.larrbgti!&,b lC6ecar Qs a.,s€! J69r 6obad, A'rcrqe ldJd'{Os0obJ e$ to*,g! aSStqntcq' 69cr6ar fuorrectt0 Q{ftQ6oc.'o. t'ht l$3od'bC6or6 glt'o'oa' res.*tx"" Ec"-ecD. sessacD"/6r!. N6&D sla}'te3qc(' QCol(rcli sg0ECllN "Jtld.aacldl, aJ6seol, 6.tqr'€ &J,va3ot, 8cor,ao qll nr'it8d' aC"t{!r fldr;Cttcq$ . C. e.'ogDtq,cDc6t tFl.a1F .6 te36.J{- s"6c}cq'C!| F6tbSJ6o !co')6b€C8 'd! eD aJb$l€rr,.' ^DB<$dIrG (Bqr,qlDClo 55AD r. r'b(rb qutoAroot S.6rbq!60q' 0OOASo 3. $C(,! 0rScr:EECDAe' fi.iS.flJ, G(,ScqrR $&i[!OCIC('(|.) J8 e!6.rid,a' CD ltft6ta$t6ie J6 !t6dr $0.6OeCq. f.,6"sQC0.,6, lr.t Crt', !Co$60dD&,' ltkl, !d,v'ABg!d' -l'rbcq!8d43$Jq'do ei/s b"j"flrrq,O,"o.- |,"lCq€dssCqxdo 8osoJClrqD ad'$8d'o s6oqi0ers!' t!t+.E!on d t!'&!an3io a. bdosqx$J eD t'.&r0srCoob ad{JoeBJ rEeD 8olbe0b u'c6o$ci6dl6 adsoafd, LAfdgr(ltX lsJ'fftEnJsgd &'flsbo6g.$.' s. r'J lrbld3!6rq' st !6.r, r$.i6'Jqb &JA'- &!13!6'{' })6.6it'r6!o' 8S'6 a',NEDcq,gr b.l"n rq$.s; &fir.b#,rofl, t risCor f6a. &'rbAdot') Lviot D q'r 8!l'$C Q$$othJD"o'' eJofiac'o c a,olbssCs€r MDF-d, arAAJ.'&D Ufu$ A$oqIE.'b QqS'{' - AsdAJoorffiectoo l&r 0.'a$br6c6ctobduoti. o0.rr adsLtrolrQ 6ir"ia[rccec6""{ n"6c,6,,e'" a}s'accD<rr acaslao: l@O'r' €aq5o6'cqh b-r."J;ilA'lbJa6ClC0ot rJ(r,6'i(,c8iAdSorirAgficlJcn0(,e!bri6C6ol''CdC$ 7. Jl6lqlonb fbr86'ona'CDol, S.'6oo.r6d6olr D6b't60o*l0o[ 0.,$6(tqt tuCl,bClCqOr-MDF-'r, effit-''$Q. a"+.,iS"t .64.'s{0tqrc(i" Jlro}cq'o'}6oclo' '0 !3'clob eJT t*'l"a' r,i'&nx,oarcuiascu eoB+ v,s'JeoDso0trl' {e{',6r0c..{'0c|a!L'o6clt')' ?gcfss lrs6gfgale os&{6l.'irsoL $ .5o9qdo5x'"r'6 Ja69L!sg *' s. (J) adngbcqsr r6es rtriEftc(!.r,. d qcq' t"{"lq\-"'-\PP* Jtl l'jdSo8CEol' p-ti-.i"i" a-*f",0.1,.r.'a&aOoccq"" il0g.'['{"'Eg!'r\ J6cB'rtrCDd'r Qs v6 fi o"n"uea5r-"l 3r""t<pt acbsqB'hr' tq'Eoqb ."iidXi,*-*ii 3gqrD'"l ',tc,,,if.oci's dvta, r,"aqiirs$ Jn6'o0q{doorqd6o i#d Afr.a;d;r "\rro'ocl.tt adra!5 a,tr,(BsJ,$ ocu.q af.r, 4o$trur' (D) Std$cscq€s gEQr gtlq!fucqY'b' ffi caCq's X'6OriJ'$" b{o6q'ol'r As lNfuov* ad{Joao.ld4r$ &roo{b a$$S.$ qd€qdcDt ' tv{{y'cDb ar lt'l'6oC..tu-nJAd'h$lAo $"6"d; "6.te€itr!rt, 0i6r50rrr, Jc,6oltud0ct6ob $ arl8soq'c6(hu ab6''a')6 )e6oecqD Ji6566€.r, (!) &€'}i5JtF.S0o &E ,,rD'Je l,s.l@'tox6 esJ!3&6r!.o' 9. flvJitCacq€J IEAD gtol'JBg('$n -i.6iE ' ir'.!6 JontJqt"isooDo$ o,ilcqi- ADfu- &,c,i QcD", schoaanb qbrb&'U Qc!cq'c!00l.t' s'i'6'60r'c6t' atrc"A.6. s t'r3'rt",ga"r, !Co",b3$.i"' tr.6'q{a $Jt(\'!f6C'd'ni'$0''rlr Jr6i:rfsO]n(l, ;o,lll;'3;, -;-}) tlJJr,6tj!e$0ol'' afirbrorod, 6o0oQJDd}J' 5a6oqh '6 Ur6q'sb 6.,4J(,.q afjJe aua* UaaOOCe'' $ '6OCe'GlOOrerJi6.' l$Jod"'g!r$ fS('Cool' q,rrte3Brl15o5lr)AC6!,e6oA$J.iCoS$rDl,. ^DB-L s.rri od'gdB.'l' &\dq39Oh!:fDC!.1' $6b'F35 l0.lr.'966,.ic'6.lro b{al6lJfrrt ArJoos.rJ irnocqE6C!'r' ad')sE adNe &&rnQaqh Josota{Oo&' {'r !.;[cq'Oro,- u"a;ia;1o"J ;g'i6aJ0Jq'o n|6rri'iodo Gbcfursbiric0r ^D-B-ol'-Eoc6 St6JrS.)f' ADB''[ A''6ob tb35s3J6Ja crt Ji6'rr oCo$taC0oqb Ar 6rffiS,i o)-Ut' OOoOC.,r" qr.' s6rr, &rno4fuqn. !d'{.{oC&n CCSAft tboget6re:t6 ll. l]oddEqbbr eo t'Od-oD.t, fuqf{Bob ao$.!o, }'8(!r',€J}C(n J"6Ot6'Cgl' aCSo'toca$o' ;oa+ f.,o"rif.,*', ott.<a* lt'Oa'j, ad,'bc'aq,8r rfuD.&!oJ'%r" ADB-'i' i.6&'"i40fl, ';"&8X "",sJ('l" J,6of"iltt, .r*'",ocm" Ecr'ua"f" bJbor Bqx{+cD'$r Qi' 6cDd'0"c'6o B'dM J.n oDd, a{CaC0(t) 6Cbbcb. &t(', ao6oU: ()) nfof,rCootl QJlrio(Sol, 3!ar[ I o,3oo' $ sCOo 3ra''a' 6)0t6dcqrD'tC $ l,,d'bol, cgtry;a.t-.;e"l t oOaaq"cLt l. o'J Ja$ J't6O'a'COo lt't'tr6ocdr (D) l,rSg&rlcDoti o,'trito &tsor"8o'ff' nSOfaCO"r Usftfrr,-Rl'6CDrsC!'-' 5qc$3 to*' aty- aJtas;tc fg(,ocq,ts.;(, e'J60'i'"'!"{' d'!cpQ'6 rt"oocrBra -&osco 6rD'rr6oc6 alsrocn ;"u"4"{,i'5$ect, fr; :toooo.gf toe 12. l$.L'Ea{'br oJ }'a&qrr$o6c€("' mc*,esDJrl t bJH:-.Dol, ovtD)q arEod'AC'.3(t J'6Of"COrr' aOAo'3SSo 6'rq(Y$ ^DB'd' a.racpri i*x,<,a.t, s*I0eclr,r..' r.oB o$ob'<'$u J'6or'r$ao a.i", .*scD.r, r,"t'6c!t' rs' r3"t,3!P 1+!!{C g:1"c*.'o.* a5a6a ld'rraoc$Cl, !St'lsd$ qoJ3aC6oCEol'j &{d''q'ro I oBCoo' ;;;:;;;";;r*,4.u ;;'j6{''[6*cJt; $,tAdiA"-A'JA Sre.a., ;irfi (q;'&tr6d' !'&6biac!<r' ['o6q{'o') o'Jt'!rn6 scp' G**t rt,ll Br.bO oB'[ .r",sOO"eOd, mq'{,ckla"6 1 o!6&BqnL*'' rtst' eo6!t6o'o 5 if,ardbrtr $bc6ooCq!!E, Se6lAtO6o QJ lDoJCtnrsoo l\Joonolo a$eoo€egldLeeEdlk€odo l. 0l.rgbJocq'ar. J.6r'glort rRarrfugDc('&' r6gcaJ0 (gJ J6oehrrr a$ibcltioofl'cbce{t SfrnDSat :Se" ptcrOme,rs,ttt",tErt as.6coC('cDs P M-ao Dalte36"Jqr| Qco!q'r" qY'ryJb'I') agbjJar"q. P M-&, .1s.6C lsb.r, aCaq6o6o 6qnq"D.) d.$tao aS! $CdF 0oqxlg?EoU eoq(P (o!tc(D 0Cl'{oABCErr' &'cdr eqtrUt(ll i-dOnr, iee"r,oUerOCe. CtgCD.t}J (t) 'COa!0 ^DB-ob q'' .ADBd' MDF-obsboqnq' 610 aCAi drq'So 6saf;1,- 6C0,'i,sq6. 4C6e0,"8" iBqrlq'C&tio' p,tt*t't qo$b8CaJ.l d)!dC lt$'r' !.'6ot q'J |tJlobbi' htlrD$"d' dOra,i"l Ocaeni " utl,g[b.r or,!6baCD.rr aCa'JqJBb' qOona$so gr.l.r,rodx1Dc E tFoJc.r dngrtrbofD.ir..E6.td€^r&'! 2. &rCtbCECq€r MDF-rr) oCa3Ct't8.o 964$ Ctd,gfuJ(wlr' lffi 'r6ogbo v" oio6oC0b tu'aC U$d' tft.r.;dt.l,-rr"<-0p"to-i(gooqEsdxu sot.bq"r$r$c a5 v6 0i8ooftcal' olc('ctY erybe'$'l'' ,:,t 66t, 6,rf66r JtCox' $m6en6l' ep'bcDg€.l rq"-G iie-lru*a, m;. .6'a90"'q6S., "6,p r'ror-J{qyo"- s3q'.r trfocr t"a'! 3oq,t 6o8vio,r'u. r6$D Jed'r53cq"4J Jtrodopt' 8ocr" arOtOq,iii e' spsir, qus.au 3$o60kr}' Qr 8!6SC<rr6CDCq'o -6of'8CDd'' Q.)GSJ' a,cbbc[c(€! MDF{r) ac0scdaoo' s6e! ler'cqJ(lFr, d''!6 t;la;ed1il6cq; arct(,Je!.!e, -$an$ t"Bg"(rs,l, e'cocsqEDJ ar, o$trrqd(,JbJ Ecl'rorE rhf,s'! ri.UCd, e" .tc.,;O"b atcl{ftdl-$cq'" ii,'s"8.r,- i.&l6","5 q,.) 6103("0""110!6. f'Jo aoJBaoqiD'cqx'r $ttc&'1jdN6' qgpo" 56 ryoo$l,,ocrb. t'$tioBcq'ol' 6$6Ec6cD'ttj x;e;ogrur ;:ijsorb"gb.l-$, or',0"",i"1t iiainfi.p.ic&;, a.c 6.,o,r6ogl"q",s 2oll $q'd.r 26 eare6"o (q"6o(laf'at 8J$o lr6r6oex, o3g{rDrooa,). 166S.$ $a6os6o3&'- ?a!6(org95 (6 ftu€l6ob696r d(llioorqn f'r'o&'on li]64-rtio${$ 3. SUJbCh@r MDF-U SCfuC.lDoo -3.ril.66"t 3fuD ,tlif6Grq'lrr} (g' r6carqis6oc0'b QJ6J l6od6'rj 0s'rttor'9q'c[ott"'' ol,Cuif(,i,- aO"".a.rro -4.,a" Q. ubr+" arD's'* tsm*sy"" Qc6cqxDc6o \)c5436' &,13tscqrt st, a6*&" ADB{ A"t6 Jr6odo'r' 8!6aq!!0o *".ilil"r'4" .;" ."Siro".l*t0", f,o6enb$ QrOr6$t-tCaeYD l$0'5614rr a"'c,dd' J$.s*t q"'oss a+tOrl"t' i' ii.i,X'i"r, inir*i,,tlirrS, o.'o ar-' tsl (0) v6 6(r60c6o l,Js:oya s$f,osc&'r6 lE!3or a6o85i ; "c.ri;cs; daG"q..t ti6"'6 &taN. SobcqBos' Q) vi J'ltoofftu qrt$trcoas eo rir .i?^m&s-..sra&.*.r<-" adrJffin6Jo(I' o"ontlqs"JDo 0r6r$o<'c"6ot QJ iilW"r ;"<'e"Osca".. ac,'8"'fO e"rpss ElJr"oh$cbc'ao 8s66x'6 $ aD 6)-oioq P!36@qi'6 6e&; G#Jr"q'dO,,c." ucqairagirocod' e"aco"i QorosQc8cEol' lil;ryr' G"b4*.-.0e.r,,4.'o*'r, axOci-S"!" qbkdf'('so 6t"c' arqDaQce' aL a.,r,-* *y*tQtil, 6'.rrc!"r, ad,rh6, J.r"'ciyl, ts"u(i!!. Srtj$1p"q o'r6sBi"c'oc(E's aD ."ir""aO".& d.*. .l8c .,i"';O.t asccasc Oot""'O''r''"tc s$q'l60!aq,o "q'r(rr!6o3" qr8rBn SSf'CDb 0.,6.r,, ASDSfs,6,Ca''o' Crq"CDAo' ,l alxNdcq,sr MDtr, aia3c6o.D A6A1 3tlaJo$s"lrc"' SC-3 r6oa6rS!o- 8)Ar)fut("(t ;.otfiffi i1"D"a.t- a3{#a.e15ri6"66o Q'sos$oa'lb 6srs'$P3ch rrar6'63'o ^o*u fg6o9.ig.m laJd6,Do o5 a$3.bi'irbr r flvn$.A^F65. MDt 'd 6 rT aoo,, xkD J56gfu3q'gclb Lf6aCr|cqh ot$rb5c'r"i'Eot !t6otJ"r' SffimW*mn.:,w;tmm ;;ii (,NE$rd,o a!!0J(n6(i) breJA$,boB'[i A) c)q'o oNtrfir6r'8qS"d8ol' UA30.a! tr.'tt6ocbr' 0odh6n'6os$3 ;;js6" e" O ,J&coce. fceC*'r o*"'cc"r+" suu"cOOe.s,o'.lr.AOa' B'60A$0 S$'qrrrr!(tl' &'t6<D' oJa.\rs.C66 d Od6.J"6o 8df,\t26Cls 6. Arrubcao(€r s.lh r8<TD$nlx'<i&r, gr(l'aq'cla' rcli{-a a's TTC-E J6qt- Jttttlc6Sc('|,.'lt (s) q"$S"i,-r"ta &,,*,aria" o",se'" al' 3il'ls$d'o^ o'dbcD(,ol' ldr*trdx' ri6(q0"t" ;;O.i tE tn'o.tt'' d'ctcs"Jd,lq'o ofqhlodobr id;.*r;q.";"sn$ Q" r$rk$ro"r' Q\s'- a"o' ---.;6"-; b.sdsr'd.r, oJdrtoc..rD adsr'Sr Q' Od6o')sd'"(Nu'fu'r"co'l' ^. o'0r<*rrr) 06r€oJc!rr' qDc"o" il*,H;l?.;"t * dbd-" o, oao";cc., l"fua*,cs.r, orctior'o" sr66c'$':- Sr 9). yp"'o.ot" c.ri.+',p"-ta,c., ffi;;lilSi "Cy'dX QJ $ r,u.,.-.l,con-,r,*.r, *u" J@ort' '$odo0DdloJc'fficD(r}J t'f,*.ri" t*s,s.;; or' Qcsooiorl, eDsn6rEU ffiffi .;:,{fu; ;rira;".,t e"n*"n'*'"' aor':pos<r.'g! l'$6or6r'6-cDol' 6oc6 i8 $lttl0r600"o' ilr,rsHu.a, Q" ;qC6.rl u6osu''ao"*{p3<- tD"ac$"{E"t' i3n,"6'qbt' bcc€d$BqxlE ,b'' $;il;r"ifi'",3.* ;.(i,o"€ik' Q', $6''o(0.'q' tynC6!gdJ.+vi0rr' gsailrennlvEo6lElit" (oClr!€rllo Lffi'#,,*ffiTffiffi ffi;;;',"*il" ns&'q' !r" x't6'LCoo$' srr,o3D't)c'6oscir'dr. "Or6ar6d0!'l') erosro,. E. asubrDJq$ s.rr' 58e'JD$c'lx'sxDd gr"a<reo iEar :tr'sr30(Y"'-tT rcM{ C'r Trc{ Ls'a $a*"'as"csld lcaqs O6'*'01au: b) - io#r, ;,i;&"L' &"'e;, rite oo.oo s "Bo--'i;$ 6c!"r'E"c"'"ffi16J";**rori. -o) "do"s* -t'"0ocla'r'.'6.-ydo'"* "&"q";,eSo.i,ctaq' &*ru'd;i, l\)/tJdoJtu, ol* ;**:,ffiffif,m$i It*$(,3a.'|, $ 6{.q}\ 6iQ'G) .rr. 6.rvryif,{. 5.6.,b4d'.r., osq-(!D.-$ tn3.t3!t'-,Q 89flfue'figD5 6"45s Adg$) $-qpioston* J1!e1 63lr'&'cf' ")'rer' "'c uP u'o* ;cl#ffi ffi; oH;d;'.if"c tr$rxrbsDdD s iliitr*,-e.aatlii' qs;'6fl'c4ae*, "-ir6c'thoJ, ffi,&ffiffi,m ;[rfio,r,- erfrc# 16 'Co"agD"'' dn;;'!e e. $s563tq'cg."6&- a!ed'r,0r{(xD' :Hffi;Hffi-H,ffi ij#a&; sc..c'r-, s r'ti o''aaOx"'o'- '*rl &Fv1q"'o'' dx!8 rtr6c633(t!!au ox'ox1Jic''(r r,i6iid" s$.{",a,t' ao&' so,qrNso .ffiffirffi*ffi*ffi AC&,t.Uq'C!-.'5 o'rEArd'Qa$'.'l'' "Uc.o.'}id, &.lrer,trLr- 5lD(t!*,fi6o ,rst,(,Q." olO"tie' *;tq'o"c*l acateo ogt Rs" fe"c's "Fla"er eic'.Q. aru,{e'rl* 6.'ecN $ q'cErRooo)' ;il<'l&; a656aBr..{os d ssanJof'fg0qfrm qp6dd'96fDo r0.a,cbt0Dc(hQrri.rxb.$-'elI.;(ffi ,.g,lmffi w i*.**r,O,',0"08- eJtr'J(r&rl 6os6oot' ll. ArrbbCDrqAr MDt-d SCABr$oo, fEQo fedEpgrcUalb, $Cq,r brOOfuEtCo eoJEACEaAo aD 'Cr€ qilrggDCDo' d AODfqRhD<ri r, adrrACa*' J60oJ'ti"8O.E$ 0COoq,Cb AD&boE JolooltrdoEo 8raBq,.,o,, l$ArO Jo6JftiOJq'sA Jqd, D6lrrt(06f(h ADll, CtsefDl i\t0rt6.'lt ,lln('3EelJ6 A$O!.itJa,Jqn b!6€rba6oo0qrDC<b e'5 lra6feTlcqx, t!ts6360f{0olJ' }a6fBC CaJqls J.6o/iriof,,6.,t . 6,,SS.eC6Cxr,, J!A,3q$$dr* er Ut3r ffirrtt6CD.r, So0FaCDqtl, AS,t$t'C"rr! As $A$oaCE A )U(r\)o.

LOAN NUMBER 3617.GEO LOAN AGREEMENT (Ordinary Operations) (Sugtrainable Urb.n TmnsPod lnvestment Program - POect 5) between GEORGIA and ASIAN DEVELOPMENT BANK oerEo ll k en\rr 2017 GEO 42414 LOAN AGREEMENT (Ordln.ry OPo,ations) LOAN AGREEITENT datod between GEORGIA (.BofTOwE/) ANd ASIAN DEVELOPMENT BANK CADB), WHEREAS lA) the bv a fraflework financmg agreemenl dated 21 June 2O1O b€uoen lne laol[y Io ADB has agrood lo provide a mullitranche fnancing lnvestmenl fi'nancins proieits unoer he suslain'ble urban rransport aonower ana Aog ('rfi'), ;;;;il; i;;pil;r;; , Program ("lnvestment Proglam); 7 S€ptember 2017 lhe Borolver (B) by a periodic fnancing request daled Projeci do'c'ibed in schedule I to this tas apptieo to i6e tor'a toln tor ttre purposes iilhe Loan Agleement; Reg'."111 (C) lha ProFcl wilt be camed out bv the MinistryofFund 9j:",PX$"t ot Georgia ('MoF')' ,.a r"r r"traJiJ or ditgi"'(MhoU, ttt" u*i"ip"l 6evelopnoni lor ino rn" rtiriii rrsnsport companv LLc ('Trc') and iiiil]ffffi;;;il;,v"i;r'crrl provided ror iitt ma(e avalaue to MDF tho proceeds or the loan il:. #;'il;;;;G; satistaclory toADB; and i,"-r"'in,ipon t"trs "na "onditions aDB has aoreed lo make a loan to lhe Borrow€r frcm ADB'S ordinary rn\ herein and in the Proiect Agreemeni *"*, -""-")I'r""n iii-'r"-ni" lno "onoition" ""t forlh TTc: "i'"r"" oiii r'"r"* r, o.twoen ADB, MDF, TcM and NOw THEREFORE ths parties horoto agrse as follow6: ARITCLE I Loan Rogutttlons; Oofi niUons ADB'S Ordlnary Operalions.l-oan S€clion'1.01. All tho provisions of ar€ hereby mad".."?'u*y1.1:,Io n"ortrrion". oift"i ian-uarv zotz ('t-oan iegulations') \rste tury set todh h€retn subiecl' ffi; il;J,n;iiil'd;i'"lo..i ino "n"& tt it rn;v horv€vea, to the lollowing modificati,ns: (a) Section 2 01(uu) i3 dcleted and the lollowing is substituted th6r'forl 'Proied Aore€menl' means the Proiecl Agreement of evon dale Ag€ncies assuch n-ffit iiG"eog"ndtho Proisct impl€mentiN to time' agreement may bo amended from lims (b) l $"t!9":-7-91-!:](i)' The term'Proiect Executhg Agencv' appe-aringg.ortJt, sortD e.ot{Ll. to.ol(c) and 10-02(c) of lhe LoanReg-uErons Agonoes ' 3hal b; substilutod by thg term'Proj€cl lmplementing 2 Wi6rever us€d h lhis Loan Aolegment, the 3ev€ral Section '1.02. lems defined in the Loen Reguletions have the respective meanings lhetein sel torth unless modified herein or lhe contai otherwise rcquircs. Addrtional lerms us€d an this Loan Agr€ement have the followlng mesnlngs: (a) '' 'Consultino Guidolines' means the Guld€lines on lhe lJse of Consultanis by Asian Dov€lopment Bank and its Borrorers (2013. as amended tio.n time to time); (b) 'Consulting SoNic€s' means the services lo be financed oul of lhe proceeds ;f tho Loan as d$cribed in sub-paragraphs 3(b) and 3(c) of Schedue 1 to thls Loan Agre€ment; (c) 'Envronm€ntsl Sateguards' meens the prinoplesand reqliremenls set fonh in Chaptor V, Appendix 1, and Appendix '{ (as applicablo) oI lh€ sPs; (d) 'Fecilitv'm€ans lhe multitlanch€ fnancing facility provided by ADB to the Bo;owsr lor puDos€s ot linancing projecls under lhe lnvestmenl Proglam; le) 'Goods' dEans equipmenl and materials to b€ financed oul ot the o;oceeds o{ tho Loin, including rolaled s€rvices such as t'ansponalion ins.rrance. installallon, cornmissioning. tlaining and initial mainlenanco' but excluding Consulting SeNices; {n '' 'lnvoluntary Rosetllem€nl Safoguards' means the principles and (as requiternents set forth in Chaptor v, Appendix 2 and Append[ 4 applicsble) ofthe sPS; ro) 'Loan Disbu6€ment Handbook'means ADB'S Loan Disbuls6ment Handbook (2017, as amendod fiom time to time); (h) 'MDF' means the Municrpsl Oevelopmenl Fund ol Georg6. a legal entty ofpublic law, e6tablishod by Decree No'558 of lh' Govemmeot ol Geo8ia on 30 Octob€r 2015; li) '' 'MDF Cha^er'means the chader of MDF spproved by Government lit '' 'PAM'means lhe groiecl administration manual lor lhe Proled daled beiween lhe Eorrower and A0B aE 30 oaob", 2017 ;n; agreed -ti." in accordance wilh the respedive to i r,.e o. ,oO"rJ Decree No 558 dated 30 Oclober, 2015, as amended from lime lo time; administrativs procedures ol lhe Bonower and AO8; (k) 'Procurement Guidelines' means AD8's Procuremenl Gudelnes (2015, ss amended Lom lrme to time); (l) 'Procuremenl Plan'means the procurerEnt plan lor the Projecl dated 30 Oclober 2017 and agreed between lhs Borower and AOB' as updaled from time to limo in accordance with the Prccuremenl 3 Guidelines, the Consulting Guidelines, and othe, arrarEements agreed with ADB: and (m) 'Proj6ct Erecuting Ag6nc/ for tho piJ.poses of, and within the meaning of, th€ Loan Regulalion3 means the Minislry of Regional Developmenl and lnfrastrucluro o[ GeoEla or any successor lhgroto acceplaue to AOB: (n) 'Project facilities' m€ans faciliths to be inslalled. constucted. reconstructed, developod. rohabilitated or opeBtionalized under lhe Proj6ct; (o) 'Projecl lmplementing Agoncla means.ach of MOF. TCM and TTC, or any successor therclo acc€ptablo to ADB and 'Projecl lmplomonling Agenci$' mean3 all of them: (p) 'Safeguardg Monitoring Roport' msans each rcpod paepered and submitted by lhe Bono\rer to ADB that describos progress with implementalion of, and complience with, lhe MPs, including any corrective and prevenlalive actions: (c) 'SPS'means AD8's Sef€guard Policy Siatement (2009); 0) 'TCM' m6ans th6 Tbilisi City Municipalily eslablished under the Borrows/s OBanic Law ol Goorgia Local S€lf-Government Code (Regisuation No. 0'10250000.04.001.0t6100); (s) 'TTC'means the Tbilisi TransM Company LLC eslablished by the Cabinet of the Tbilisi City Municipality O€cree No.12.17.675 daled 17 June 1997, as ameoded f.orn iime to time. which is controlled by lhe Tbillsl City Hall and is respcnsible for oper.ting and maintaining tho Tbilisi Motro: (r) 'TTC Chartei moans lhe charter of TTC approved by Tbilbi Govommenl Decree No.16.26.565 dal6d 24 June 2009. a3 amendod ,rorn tim6 to tine; and (u) 1 /orks' means constructlon or civil works to be financed oul ot lh€ p.oce6ds ol the Loan. including services such as drilling or mapping. and proj€ct related ssrvices lhat aro provided as pad of a singlo responsibilily o. tumkey conlracl, but ercluding Consulting Selvices. ARTICLE II Th. Lo.n (a) Section 2.01. ADB agrees to l6nd to the Borowor trom ADB'g ordinary capital resources an amount ol twelve million Euro (€12,000,000), as such amounl 4 may be converled trom limo lo time through a Curency Conversion in accordanco with lhe provisions ol Section 2.06 of lhls Loan Agreement. (b) The Loan has a principal repayment period of 7 years, and a grace period a3 dolined in subsoction (c) her€inaller. (c) The term "grace period'as lJs€d in subs€ctioo (b) hgreinabove m6ans the period prior to the lirBt Principal Payment Dalg in accordancs with lhe amoriization schodule set rorth in Schedule 2 lo lhi! Losn Agreoment. 2.02. Section Th€ Bonower shall pay to ADB interest on lhe principal amounl ot tho Loan withdrawn End oubtanding iom Um€ to lime at a rate for each lnleresl Period aquel lo the sum ot (a) (b) (c) Eudbor: 0.60% as provftl€d by Seclion 3.02 ot the Loan Regulalions lo$ a credit of 0.10% as providod by Section 3.03 of th6 Loan Regulalions; gnd a maturity p.emium of 0.20% as providod by Seclion 3.03 of tho Loan Regulations. Th6 Bor.olver shall pay e commitmenl charge 010.15% Section 2.03. p€( annum. Such oharg€ shallec.rue on lhe ful amount ofthe Loan (loss amounts withd6um fiom time lo lime), commgncing 60 days anerthedale of thls Lo.n Agrcemenl. Section 2.04. lnteresl and olher charges on the Loan shall b6 payable semjahnually on 15 May and 15 Nov€mber in eadr year. The Bonower shall repay the principal amount of the Section 2.05. Loan wihdraMl from ths Loan Account in accodanc€ rvith the pmMsions ot Schedul6 2 lo this Loan Agr6€fn6nt. 2.06. (a) Th€ Bonorer may 6t any lime.equ6t any oflhe Soc{ion folbwino Converslons of the tem3 of he Loan in ordcr to facilitats prudenl debl manaqemenl: (i) E change ol the Loan Cur.ency of all or any po.tion ol the pdncipal amount ot the Loan, whether withdrawn and outstanding or unwilhdaawn, to an Approved Cudency: (ii) a change of tho lnterest rate basis apdhable lo all or any portion of ths principal amounl of th€ Loan withdrawl and outslsndlng from a Floating Rate to a Fired Rate. or vlce versa: and (iii) the s€tting of limils on lhe Floating Rate applicablo to all sr any podion of tho princjpsl smount ot the Loan withdr.vfi and outshnding by the estsblishment of an lnteresl Rate Cap or lnt66st Rale Collar on s6id Floating Ralg. (b) Any conveGbn r€qucated puEusnt lo Subsectjon (a) heaeinabove hat is acc.pt€d by ADB shall b. conslde,Ed a 'Corwersion', as delin€d in Section 2.01(f) of the li Loen Regulalons. and shall b€ eflecled In accordance wlh tho p.ovilioos of Micle V of the Loan R€gulabbn3 snd lh€ Conve6ion Guidelho3. ARTICLE III U3€ ol Procoed! ot the Loar 3.01. The Boro\f,er shall make the proceeds ol lhe Loan setistactory toADB and shallcause MOF lo apply conditions lermssnd avallable lo MDa;pon Sectlon such proco€ds to the financing of erp€nditur€s on lhe Proj€cl h accordance wilh the of lhir Loan Agregmonl and lhe Projecl Agroemenl. provisions 3.02. Tho proc€eds of the Loan shall be allocalad and Seation provisions of Schedule 3 to thb Loan Agreemet , as such wilh th€ wimrawn in accoroanca AoB' tims by agreement belween the Boro\ /er ftom time to L" dciiior[ ."i 'nd ".u"0* 3.03. Except as AOB may otheMis€ aoree. th€ Eorrow€r shall Section procured, the ltems ol expendituie lo b€ financed oul ot lh€ Ptocoods orocure. or caus€ lo b6 provislons ol schedule 4 lo lhis Loan Agreem€nl AuE.may with the ;f the Loan in accordance where any such ilem h6s not b€en p'ocured under procedures iJr"" r" "a wih lhose agreod b€tween ths Bonov/o' and ADB or Mele lhe suhlantialfu in accordancs tems end ;nditoB of the contracl are nd !€tisbclory to ADB. i.""* i i"rt 3.04. Ercept asAOB may othgMige agree' the Bofiovrer shall gxclusively oui of the ploce;s ol the Loan to be used linanced cause atl items-J eipenoiture in th. carrying out of tho P.olsct. Seclion 05. The Loan Oosing Dal6lor the purposos of Soction 9 02 o" t8 Luty zo20 ot 3ridl olher dsl6 es may ftom time to ljme be or ue r-oan niuLiions "tt"u agreed between the Bofiou€r and A0B. Section 3 ARTICLE IV Partlcular CovoMnl! 4.01. ln lhe carrying oul of tho Pro)ec:t and op€'ation ol th€ Seclion proled tacitiths. itre Bonower sha pcrfom, or cau; to bg p€r{orm6d, all obligatlon3 set lorlh ln S'chedule 5 to this Loan Agreemsnt and th€ Projecl '€rc6m€nt enabls ADB'S represenlatives t0 shall Borower Th6 Section 4.02. Bcords and documonlg' rel€vant and any Wolks, insp€ci the Proi€cl, th€ Goods and 4.03. ADB shall disdose lhe annual audit€d Section wlhin statemenls tor tho Prcject aM the opinion of the audilo6 on the financial stalements tinancial 6 14 days of the date ot ADB'S conlirmalion of their acceptabitity by posling them on ADBS websile. Section 4.04. The Borrow€r shall tak€ all actions which shall be necessary on its parl lo enable the Project lmplementing Agencies lo perform iheir obligalions under the Project Agreement, and shall not lake or permil any action which would intsrfere with the pedormance of such obligations. ARTICLE V Eftectiyoness A dat€ 90 days affer the dale ot this Loan Agrcement is Section 5.01. specilied for lhe effectiveness oflhis Loan Agreemenl for the purposes ofSeclion 10.04 of lhe Loan Regulalions. ARTICLE VI Oel.g.tion of Authority Section 6.01. The Borower hercby designates MDF as (s ageni forihe purposes of taking any aclion or enle ng into any agrcement required or pemitled under Sgctions 3.02, 3.03 and 3.04 ol this Loan Agre6rn€nl and under S€clions 6.01,6.02,6.03 and 6.04 of lh€ Loan Regulations. Section 6.02. Any action taken or any agreement entered into by MDF pursuant to the authority confer.ed under Sectioo 6.01 of this Loan Agreement shall be fully binding on the Borrower and shall have th€ same force and effect as if taken by lhe BorowerThe aulhorily conferred on MDF under Section 6.0'l of Section 6-03. this Loan Agreement may be revoked or modilied by agreemenl between the Borrower and ADB ARTICLE VII Mbcellaneous The Ministerof Finance otthe Bolrouer is designaled as Seclion 7.01. representative of lhe Borrowor for lhe purposes of Section 12.02 of lhe Loan Regulalions. Seclion 7.02. The following addresses are specified for the purposes of Sectlon 12.01 ot lho Loan Regulations: Fot lhe Bono!,ver Public O€Ot end E ernal Financing Oepartmeii Ministry of Flnanco 16 Gorlaseli Slroel 0114 Tuli3i G€orgia Facslnll€ Numboc (*534 2242 423. FoT ADB Ashn DorcloPm€nt 6 ADB Av€nue Mandaluyong CitY 1550 M€lro Manila Philippines Facsimilo Numbotsi (632) 636-2,144 (632) 636-2301. I lN wlTNEs.S WHEREOF lhe perlbs heroto, acting th.ough their replesonlalives lhereunlo duly aut lodzd, have caused thls Loan Agroeme to ba sion€d in their respeadve name. ss ot tho dey stld ,rar f6l abovo ffittcn an<l to ba deliverod at lhe pdnclp.l office of AO8. GEORGIA Min ASIAN OEVELOPMENT BANK Country Oiroclor Geo.gia Resuent Mission 9 SCHEDULE I O€lcrlptlor ol thq Projoct . 1 The objoclive of thg lnv6stm6nl Prcgram ls lo improvo effci6ncy. r6liabillty and aflordability of urban transport lnfastructuE and s€Mces- 2. As pad of tho lnvest iena Prlgram, lhe Projecl silns to p,ovirre etfici€nt, rcliable, safe and altordablo urban tanspod seryices h lhe urban area6 of th6 crty of Tbilisi. 3. The Projecl3hall cornprise: (a) rehsbllltation and impovemenl ol the Tbilisi Metro including replacam€nl of low and medium vollago po$/er tansmission cabling, rohabilitation of th6 ventilation syst€rn including th€ inslsllalion and lopair of ventilation fansi (b) strenglhenirE tho inslitutional capacity of TTC in operalions and melntenanca or lhe Tbllisi Metro including the devglopment of a waste management plan:and (c) 4. providlng Proiecl managerient and implementalion support for supervision ol Wo.b, ,inancial audit and srteguards moniloring. Th6 Proi6cl is oxpecled to b€ comd€led by 31 Decemb€r 2019. t0 SCHEDULE 2 AmortEadon Schadula 1. The follotting tauo sets fotth lhe ftinclpal Peymont Dates ol lho Loan and lha oarcontsoo ol lhe totel qin;Dd amount of tho Loen payablo on 6ach Pdncipel Paymont OateirnsiarrmJnr share). lf lire orcce€ds of the Loan shall havo been fully v,ithdrawn as of th6lirsl on each ii"r"ii pi"ri"i'oa", the princlpal amount of the Loan r€psyable by the Eonower pdncipal *i""i;"i p"'rrir"r Dai€ 6h;I b€ dotorminod bv AoB bv multiplving (a) tho tolal Date; by ol tli. Loan wilhdtawn and outstanding as ol the lirsl Principal Payment De lo amounl repayment such Payment Oale, "ror'nt ilt the tnstallmenl Share lor each Prnopsl lo paraglaph Schgdub 4 ol th's in lo leterred amounlg deducl any li:r"t"o, i" "*"to.v, apPli6s. which a Currancy Conversion i t lnstallment Share PeEcqtgllg (Etpressed as a %) 7.142857 7.142857 7.142857 7.142457 15 May 2033 '15 November 2033 15 May 2034 15 November 2034 '15 May 2035 l5 Novomb6r 2035 15 May 2036 7.112A57 7.142E57 7.142857 7.142857 15 November 2036 15 May 2037 15 November 2037 15 May 2038 7.142A57 7.142857 7.142857 7.142857 7.142457 7.142859 'l 5 Novemb€r 203E 15 May 2039 'l 5 November 2039 100.000(D0 Total 2. lf the proceeds of the Lo€n shall not have been tuUy wilhdrarvn as of the flrst on each irlncioaf pav#m blf". lhe ptincipal amounl olthe Loan repayaue by the Boroler Prino;al Payrnent Date shal ba dctermined as follot,s' (a) io lhe sxts'nt lhal any Droceeds of lhe Loan sha{ have bs6n withdG"n "" "i ir'"-n p-"ip;t Paymenl Dat6' the Bofiowsr sh8ll l6pay lhe "t ana ouhianding as ol such dato in accordance wilh *ltttorawn "rornr ParagraPh I ofthis Schedule: and {b) be wrlMrawal macle after lh6 firsl Prncipal Paymonl Dale shsll anv -reiaio Prinqpal Psytnent Oale faning afler lh€-d'16 ol sr/cJl on o' "acr, wiihdrarYal in amounts determined by AOB by multiplyng lhe amounl be lhe which shall of numeElor ihe lraclion, by a withdrarval eadl such t1 Sch€dule 2 original lnslallment Share specifed in lhe i6U. in paragraph 1 ol this Sc'hedule for s6i, Principal Paym6nl Dal6 (the Orlginal lBlallm€nt Share) and the denomlnator ot which shall b€ lhe 8um ol all rorneining Original lnstallment Shares for Principal Payment Date3 falling on or afte. such date, such Gpaynenl smounts lo b€ adjustd. as noctss€ry. to deduct any amounts refen€d lo in paragaaph { of thb Schedub. lo which a Curency Conversbn appli63. 3. lvrlMrawals made wilhin 2 c6l€rldar monlhs prbr to any PdncJpsl Paymenl oate shall, lor the purposos golety of calculaung the pdnclpalamounts payabls on any Principal Paymenl Datc. be troated as wlhdrawn and outslandlng on the second Prlncipal Paymenl Dat€ folloveing the dalg ot\ ilhdrawaland shallbe repayable on €ach PincipalPaym€nl Date commencing wlh lhe s€cond Principal Paymenloale following the date ofwithclrawal. 4. Notwilhstandlng th6 provisions of paGgraphs 1 and 2 of thi3 Schsdulo, upon a Currencl Convelsion of all or any portion of lhe tyithdrawn principal amount of the Loan to an Approved Cunency. the amounl 3o convened in sai, Appaoved Cunency that shall be repayaue on any Pdncipal Paymenl Date ocolrino durirE th€ Conve6ion Pedod. shall be delermined by ADB by multiplying such amounl in its clrency of d6nominatlon immedblely priorto sald Conversion by either (i) the exchange rst6 that rcflecls lhe amounls ot ptincipalin said Approved Curency payablo by ADB unde( the Cunency Hodge Transsction relaling lo said Conve6ion: or (ii) if ADB so deiermines in accotdanca wilh lhe Cooversion Guidelines th6 exchango rate compongnt of lhe Screen Rate. 5. li the pIincbal amount oflhe Loan wilhdrawn and outstandir€ ftom lime to tirne shall be denominated in more than one Loan Cunency. lhg provisions ot this &hedule shail apply soparately lo lh6 amount denominated in each Loan Curencl. so as to produce a sepaEle amortization schedule lor each such amounl. 12 SCHEOULE 3 Alloc.tlon snd Wihdr.wal ot Lo.n Proc.eds General The tabl€ attached to lhis Schedule set3 torth the Catego'ies of items of ebenditure to be linancsd out of lhg procegds of the Loan and lho alocation of th€ Loan p,GeOiro ea"t, sucrt C.tegory ('Tabie'). (Ref6rence lo'Catooory'in this Sd|edule is to a Cat€gory or Subcategory ol the Table). 1. Basis forWlMrawalfrom th€ Loan Account Ercept as AOB may otheNiso aore6, tho proceeds. ol the.Loan siall a;d dbburs€d o; the btsls ol lhe withdrawal percenlage for iiro""tuo to ir".i ot "rpundlturo, in lhe Table fodh ea(, item of expenditure set be 2. lnterest and Commitment Challes for The amount allocated to Calegory 'lnleresl and Comm menl Charges".ls period ol ;nancino int6rest and commitment charges o-n the Loan durino lhe implemenlatron pav b€hall itself on to enriGo to *iutoiaw rrom the Loan Acc'unt and inte'est and of such due. to m6€l Pavm€nts when th; ;ornr" i"qri 3- il#;itiiffi;;ii ; ;i,ilffi;; cdnmitment arrarg€6. "o Reallocatlon 4. Notw hstandinq lhe allocation of Loan prccaeds and the uthdrawal peacentagos set forth in tho Table, (a) if the amount ol th6 Loan allocated lo any Cateoory -appeals to be hsullicienl lo linanc€ all agresd expend ures in thal Category' ADB the mai, oy norice to ttre Bon&ier, (D rEallocate to such Category' to of th€-Loan ext;t ;equired to m€et the esiimat'd shortfall' amounts wt dl have been allocat€d lo another Category but' in lhe oprnion ol (ii) if such eOA, a," not needod to meet othor exPendilurgs -6rd the r€ducE shortfall' oslimaled th€ fulty m6€t iJ"iii""rion onnot ordet.lhat in erponditures such lo pe,centage ;pplicable wilhdrawal all furlher tfthdraYialg r'rndii suct Catogory may conlinue until erpendilurcs therounder shall have been made; and (b) erc€€d if lhe amount of lhe Loan allocatgd to eny Category app€als.to th€ all agre€d erpenditures in that Category' ADB may' by notice to gon6wer, reEitocate such excoss amounl lo any olher category' Disbu6gm€nl Plocedures 5. Except as ADB may otherwise agree. tho Loan Proceeds shall accordanco wilh the Loan Dkbursement Handbook. b€ disbursed in l3 Schedule 3 Eeueeglvellaesils Wthdrawats from the Loan Accounl may b€ macle to financ€ sligrble 6. ;Eondilores incunod uftl6( the Proj€ct b€tore 0l€ Effoctive Oate, bd not eadl6t than 3 and ii-"iitr. t"r.i. lhe dalo ol lhk Loan Agr.ement in conn6clion with GoodB, Wo amount' Consulllng Servicss 3ublect to a maximum amount oquival€nt lo 20olo oflhe Loan 14 Attachmenl to schedule 3 TABLE ALLOCATIOTI ANO WITHDRAWAL OF LOAN PROCEEOS fo, ADB Fln nclng Euto Basls for Wlthdrawalfrom the Loan Account 84% ol lotal 6xpeodituro claim€d 15 SCHEDULE 4 P,ocurcnant of Good!, Woak! and Consultlng So,vlcoi Genoral 1. Thg procurement of Goods, Wo s and Consultino Services shall bc lubiect to governed by thl Procurem€nt Guiddines. and the Crnsulting Guidolines, resp€ctively' ard 2. procured and Excepl as ADB may oth€rwisa aore€, Goods and WodG shall be prccurement the basis ot on the only Consr,rltino Servi@j Shall b€ selecied and erEaged io. among ete sublect methods Thes€ fo.th below. s€l methods ;nd the seleclbn melhods Plan' in theProcuremenl valuess€lforlh thr€shold and arrangem€nts ofn"rif,lng;, rh" ouf"ff"o or m€lhods in" go,r-orr., mav onlv modifi lh€ procuremont m€thods and lho seleclion rn,"Joro ,"rr"" ,rin rn6 prior agreernent of AOB, and modificatlons musl b€ sel ol',t In updalG lo the Procurement Plan. 3. All totms u5od in thas Schodule and nol otheMise delined in lhis Loan ig,""."nt n",,"il'; ,".nin!s provioeo in fre Pocurcmenl Guidelin€s and/or thg con$itino Guldelinos, 8s applicable. Good6 and wodG Goods and Works shall be procuGd on lho basis of lntemational Compalitive Bidding. Con6ultino Services 5. OualityExcopt 8s set forlh in the paregraph below, tho Borower shall spply aod Cost-Bas€d Solect|on lor Consulting Services. lor the The Bono$€r, through MOF, sha[ apply the tollowing sebcljon method 6. proc€dures set lhe lhings olher with, among iLif.a con"ultino Set ices, in alcordenc6 lol the Pro,ecl' tJrt in ttt" Pro"uteitant Plan: Least'Cost Seleclion for aud s€Nices 7. fo' The Borowor, throlgh MOF, shall recruil lhe indivrdual consullanls lor .oniiitiig ioitt'" e.pi in "ur"gr"to" recrultlrE indivk ual consultants - """oto"n* with p'ocedures accePlaue to A0B lndustrial or lntellectual Prooettv Riohts a /al The Borrower shallensurc lhat 6llGoods and Works procured (includhg whether s€paratgry P!g'l'd n"io*it" .ott*a'e ano iut ort ti.it"t,Ji'"n "vslemsdo nol violate or inhn96 any "oiiuiJi goods and services procured) otner parly' "i-i"*r#"tiJ or intelleclu,l prop€ny lighl or clarm ol any lh(d ;dusti;l orooertv",tti" lhe p(ocurement ol (b) The Boro$/er shall enslre thal all contracls for and, il appropflat€. GooOs and rl)orks contain appropaiate representatrons, warranlies lo rn indomnities from ih6 conhactor or supplier with respecl to lhe malte6 r€tefieo subparegraph (a) of thi3 peEgraph 16 sch€dulc''l Th6 Bolrow6r shall €n3ur€ that all Ao&finenced conttacts wilh consultanis ;or ain .odooriato reDrEsentalions. war.an[s3 srld, if approprialo. indemnities lrom t]le vhlal' or lnfringe any *n*ii"n[Jio-.nir," ihal lhe con6ulting s€wic6 p.ovided do not p6rty' ol any third propady or claim propsrty or intellBctual Qht indGhal 9. ADB'S Revlew ot Procurom€nt Dscisions 10. Cont€d5 Procured under intematbnal competitivo bldding plocaduJes and bv AOB' unless olheltvi66 fo, Con"rftitE 6€rvrce3 shsll be 3uiied to prior 'evie'w Plan "rif,"a" aoreed belsr€€n lhe Bono!fler end ADB and set lo'lh in the Procu'amont 'l'1. AOB'S p'ior ot tny modilicaton or tvaiver of lhe terms ln the ca5€ of a contracl for Goods or Wo*s, which is subject lo ,"ti"r, tfr" go";, eOB a p.io, "ppn*"I "-hu$ inchrding: aat. cont of lhe and condilions "."i of s contrac{ (a) granting an oxt6nsion of tho stpulated limo lot completion lo requko tn oxlension ior a po;od ot 1 month or more, or which B likely of tho Loan Clo6lng DatE: 8nd (b) '' (lo' th€ inqsases in sggregate of lh€ o'(linal pdce by more than 5% preuou3 any into account take increase shell such avoidance ol doubt. change under such conlract)' posl ln the cas€ of a cont act for Goods or Works. which b subjecl to AOB-S 12. lhe to and waiver or ierf"., U," requllad cont ad modificalion ,.ri"*. rOg '6pond required th' ot lhe receipt 1 month afi6r lhrn ;;"n"ff ;; ;;;di;u;.-aut not later ;;;#; document. modficatrlng 13. The Borrowor shall paovide to AOB copies ot all lime.extensions' (including charEp ordo6i within I monli foloning adEndment ol oi*a""r3 to fn iont the coniract. "as 17 SCHEDULE 5 Execulion of Project; Flnanclaland Operational MatterB lmolemenlation Aranoements 1. The Eonolver, the P(iect Executing Agencl and lhe ftoiect lmplemenling Agencies shall ensure that the Project is implomented in accordan@ wilh the detailed arangements set forth in lho PAM. Any sub6equent change to the PAM shallbecome efiective only aftsr approval ot such change by the Poec,t Execuling Agency and AoB (except thal arry subsequeot change to the Procurement Plan shall become elleclive only atter approval of such change by [4DF and ADB). ln the gvenl of any discrepancy belween lhe PAM and this Loan Agreernent. the provisions ot lhis Loan Agrcemenl shall prevail. Saleouards 2. The Borrower, throuoh MDF, shau ensure lhat the Projecl does not havo any environmenlal, indigenous peoples or involuntary resettlement impacts. allwilhin the meaning of lhe SPS. ln the event lhat the Projecl do€s have any such impacl, the Borowor, through MDF, shalltake allsteps required to ensure that ihe Proiecl complies with the applicable laws and regulations of lhe Bonower and with the SPS. Wthout limiting the forogoing.lhe Borrower. through MDF, shall ensure lhat the construction and implementation of the Project and all Proiect lacililies comply with all ePplicable laws and regulations of the Borower relating to envionmenl. heallh and safety, including, without limitation, lhe Wasle Management Code of Georgia dated 26 Decembe.2014 (as amended flom time lo time) Labor Standards. Heallh and Safetv 3. The Borro,.,rer, throwh MDF, shall eosuro that the core labor slandards and lhe Bonor€as applicable laws and regulations ars conrplied with during Projecl implem€ntation. Th6 Borrower shall catEe MDF to include specilic provisions in lhe bidding documents and contracts lioanced by ADB undertho Project lequiring lhat the conlraclors, among otherthings: (a) comply with the liorrowe/s applicable l.borlaw and regulalions and incorpo.ate applicable workplaci occupational safety norms; (b) do not use child labor; (c) do nol discdminate wo ers in respect of employment and ocdrpation; (d) do not use forced labo( (e) alto! fieedom of association and effeaiively recognize lhe righi to collective bargaining; and (f) disseminate, oa engage appropriate service prwiOers lo disseminale, informalion on the sks of sexually trans'rnitted'diseases, including Hlv/AlOS,lo the employees of conkactors engaged under the Project and to members of the local communities surounding the Project area. padicularly 4. The Borower, through MOF, shall stricuy monitor compliance with the requirements s€l Iorth in pgragraph 3 above and provide ADB with regular reports' Gender and Develooment 5. The Borrower, through MDF. shall ensure that the principles of gendBr equality aimecl at inqreasing Proiecl beneftl and impact on women in the Proietl area arc followed during implementat-ion oithe Proiecl. These include (a) equalpayto men and women for work of equal value; (b) enabling working conditions for women worke6; and (c) taking neces$ry 18 Schedule 5 actions to encourage women livlng in lho Proloct aroa to parlicipal€ in the dosign and imphmentation of Pror€ct aclivities. OooralioN and Maintensnce 6. The Bono!,/er. wllhln il! authodty, shall causo TCM and TTC to ensrrre lhal: (a) tho Project facilitieB 6.6 maintain€d and op€rBted ln good condition in compliance with applicable la'r6, roguladons and atandgrd8 of lh6 Bonowsr includino conducling ragular operalions and haint6nan6 of th6 Tulisi lvlet o h accordence with applicabl€ opsrdtions and mainteian@ msnuals, maintonane schedulo6, and maintain en accurale and uplo-dale asset regisler for th6 Tb bi Matro; and (b) adequate budgetary appropriations or olhet countorpart funding is paovid6d to covff any fundino sfiortfalls lor oporatons and mainlonance of the ProJacl facilili6s, and qualified and exporienced staff a.e made available to enable thc Pro,ect lmplementing Aoencies to succcsafully carry out thes6 sclivitios. Ooerationaus.ctor P6rf dmanc.rFinsncisl Cov6nantg 7. The Borowea. through MOF, shall ensu.6 that: (a) the Project is implencnted in a@ordance with dBslgn specirrcations and consltuclions norm3: and (b) construction supsrvision, quality conlrol and conlract manageh€nl aro pedormed h accordane with inlemational slandads. 8. Th€ Bonor,,r€r, withh its autho,ily, shal cause TCM and TTC to ensu.6 lhat ADB'S consent is obtalned at least 3 monlfu pior to the lmpla.rEntalaon of any ot thq follo*ing: (a) any chenge in owns.ship of any a68€t lacility or Blruduro linancod under thc Project; (b) any sale. lEnster or a$lgnm€nt of int6r€5t or conLol in any assel, facilily or slructurc financed lndor the Projecl; (c) ravbbn, amondlltcnl or restatsmenl ol lhe MOF Charter or lhe TTC Chader thal may 6lted imdem€ntation or maoagem€nt of lhe Projod; or (d) any leas6 ot other cont act or modillcauon of lhe funclioN aM authoity ot th€ Poject lmdementing Agenci6 over op€lalion and maintsnan@ of any such assel. faciny or struclure fmanced undBr the Projecl. The Boror€r shall €nsure lhal any such changes will be caried oul in l€gal and lransparenl manner. I 9. Th6 Bonollr,or, within it€ aulhority, shall ceuse TCM and TTC to 6nsu.e thal TTC rernains flnancially Sustainablo lhrough n6c68sary laaii adlustmsnls, subsiries or olher neans, including ensuring thal fo( each lilcal ye6r o[ TTC, ils ratio o, total €sh operatlng expenses lo tolal cash operating revenues i3 maintalned at le93 then 1 (lncluding 6fier factoring in rcceipt ol any subsidies raalzod in cash and ercess or delicil cash rovenuo carried lorward lrom previous years). Govemance and Antconuotion 10. Th€ Bo.rcw6r, th€ Proj€cl Execuling Agency, and thg Project Implementing Agencies shall (a) comply with AOa's Anticonuption Policy (1998. as amonded to date) and acknowledge that ADB res€Nes lhs dght to investigate directly, or throwh its agents. any alleged corrupt, lraudulenl, collusrve or coercive practice relatiog to the Proiect; and (b) cooperale with any such inv6stigalion end extend all necessary asslstance lor satislaclory completjon of such investigation. - 19 S..hodule 5 11. The Bono$€r, thtough MDF, shall ensurc that the anljcorruption plovisions provisions acc6ptable lo ADB are included in a[ bilding do6rll€nb and contracts including ox€culing of lho lecords and accounts Epecilying the right of ADB lo audil and €xamine the s€Mce and olhot consultant!. supPlier6, i'na i'itpEmentiig agencies and all conlracloB, provldeB as lhey aelate lo the Proiect.