Representation and statements Primjeri odredbi

Representation and statements. 13.1 Representation of the Borrower. The Minister of Finance and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the execution of this Loan Agreement. The Director of the Project Coordinating Agency and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the implementation of the Project and this Loan Agreement. The powers of representation will not expire until their express revocation by the representative of the Borrower authorised at such time has been received by KfW. 13.2 Addresses. Declarations or notifications in connection with this Loan Agreement must be in writing. They must be sent as originals or – with the exception of requests for disbursement - via facsimile. Any and all declarations or notifications made in connection with this Loan Agreement must be sent to the following addresses: Postfach 11 11 41 60046 Frankfurt am Main Germany Fax: +▇▇ ▇▇ ▇▇▇▇-▇▇▇▇ 11000 Belgrade Republic of Serbia Fax: +▇▇▇-▇▇-▇▇▇▇-▇▇▇

Representation and statements. 12.1 Representation of the Borrower. The Ministers of the MoF, ▇▇▇▇ and ▇▇▇▇ and such persons as designated by the respective Minister to KfW and authorised by specimen signatures authenticated by the respective Minister will represent the Borrower in the execution and implementation of this Loan Agreement. The Minister of Finance or such persons as designated by him or her shall sign this Loan Agreement for the Republic of Serbia. The ▇▇▇▇ shall act as the Project Executing Agency responsible for the implementation of the Project. The MoME shall be closely involved in the implementation of the Project, in particular through its membership in the Programme Coordination Board. The power of representation will not expire until its express revocation by the representative of the Borrower authorised at such time has been received by KfW. 12.2 Addresses. Notices or statements in connection with this Loan Agreement must be in writing. They must be sent as originals or – with the exception of requests for disbursement - via facsimile. Any and all notices or statements made in connection with this Loan Agreement must be sent to the following addresses: For KfW: KfW Department LEa3 Postfach 11 11 41 60046 Frankfurt am Main / Germany Germany Fax: +▇▇ ▇▇ ▇▇▇▇-▇▇▇▇ For the Borrower: Ministry of Finance Kneza Milosa 20, 11000 Belgrade Republic of Serbia Fax: +▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇

Representation and statements. General provisions Annex 1 Disbursement schedule Annex 2 Specimen legal opinion for the loan agreement (government) The basis for this Loan Agreement are the agreements dated June 30th, 2011 and October 18th, 2012 between the Government of the Federal Republic of Germany and the Government of the Republic of Serbia on Financial Cooperation (FC) ("Government Agreement"). Under the condition that the Federal Republic of Germany will provide interest rate subsidies and under the condition that the Federal Republic of Germany will provide a guarantee for the loan, KfW will extend a Loan subject to the terms and provisions of this Loan Agreement. The terms and conditions of the Loan comply with the OECD requirements applicable on the date of signing of this Loan Agreement for recognition as Official Development Assistance (ODA). The Borrower has applied for a financial contribution of up to EUR 1.3 million from the European Union’s Western Balkans Investment Framework (WBIF) for the purpose of financing consulting services for preparation and implementation of the programme “Energy Efficiency in Public Buildings”. KfW has declared its willigness to act as the Lead International Financial Institution in the implementation of this WBIF grant. The application has been approved by WBIF’s steering committee on December 6th, 2012 and the grant will be extended from the European Western Balkans Joint Fund (EWBJF), which is part of the WBIF. Therefore, in addition to this Loan Agreement, the Borrower and KfW intend to conclude a Financing Agreement once an Implementation Agreement between EBRD as a Co-Manager of the EWBJF and KfW has been signed. Should the EWBJF grant not suffice to finance the required consulting services, the remainder of the costs shall be financed from this Loan Agreement.

Representation and statements. 12.1 Representation of the Borrower. The Minister of Finance and the Minister of Mining and Energy and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the execution of this Loan Agreement. The Minister of Mining and Energy and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the implementation of the Project. The powers of representation will not expire until its their express revocation by the representative of the Borrower authorised at such time has been received by KfW. 12.2 Addresses: Declarations or notifications in connection with this Loan Agreement must be in writing. They must be sent as originals or – with the exception of requests for disbursement - via facsimile. Any and all declarations or notifications made in connection with this Loan Agreement must be sent to the following addresses: Postfach 11 11 41 60046 Frankfurt am Main Germany Fax: +▇▇ ▇▇ ▇▇▇▇-▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇,▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ Fax: +▇▇▇-▇▇-▇▇▇▇-▇▇▇ Ministry of Mining and Energy Nemanjina 22-26,

Representation and statements. 13.1 Representation of the Borrower. The Minister of Finance and Economy of the Republic of Serbia and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will represent the Borrower in the execution of this Loan Agreement. The Mayor of each Municipality and such persons as designated by him or her to KfW and authorised by specimen signatures authenticated by him or her will rep- resent each Municipality in the execution of this Loan Agreement. The Gen- eral Director of each Project Executing Agency and such persons as desig- nated by him or her to KfW and authorised by specimen signatures authen- ticated by him or her will represent each Project Executing Agency in the execution of this Loan Agreement. The power of representation will not ex- pire until its express revocation by the representative of the Borrower au- thorised at such time has been received by KfW. 13.2 Addresses. Notices or statements in connection with this Loan Agreement must be in writing. They must be sent as originals or – with the exception of requests for disbursement - via facsimile. Any and all notices or statements made in connection with this Loan Agreement must be sent to the following addresses: For KfW: KfW Postfach 11 11 41 60046 Frankfurt am Main / Germany Germany Fax: +▇▇ ▇▇ ▇▇▇▇-▇▇▇▇ For the Borrower: Ministry of Finance and Economy Kneza ▇▇▇▇▇▇ ▇▇,▇▇▇▇▇ ▇▇▇▇▇▇▇ Fax: +▇▇▇-▇▇-▇▇▇▇-▇▇▇