Common use of Loan Clause in Contracts

Loan. 1.1 Amount. KfW will extend to the Borrower a Loan not exceeding a total of (in words: seventeen million Euro) ("Loan"). 1.2 Channelling and purpose of the Loan. The Borrower will use the Loan exclusively for the Programme to finance investment measures and (if necessary) expert services of up to EUR 700,000 to improve the provision of communal water supply and wastewater management in medium-sized towns / municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town / municipality hereinafter referred to as “Municipality”, together as “Municipalities”). To this effect, the Borrower will channel the Loan in full to the Municipalities and their corresponding water and wastewater utilities (“Project Executing Agencies”, each a “Project Executing Agency”) on the conditions set forth in Article 2 and ensure that the channelled Loan amounts are used to finance investments and expert services in accordance with the Programme. Regarding the implementation of the Programme, the Borrower will act through the Ministry of Construction, Transport and Infrastructure. 1.3 The Borrower will ensure that both, the Municipalities and the Project Executing Agencies, will be jointly responsible for the implementation of the individual investment measures. 1.4 The Borrower, each Municipality, its respective Project Executing Agency and KfW will determine the details of the Programme, including the investment measures, supplies and services to be financed from the Loan, within each Municipality in separate agreements (hereinafter referred to as "Separate Agreements", each a “Separate Agreement”). 1.5 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or their Project Executing Agencies, as well as customs duties may not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services and equipment for the Programme shall be exempted from VAT.

Loan. 1.1 Amount. KfW will extend to the Borrower a Loan loan not exceeding a total of‌ split in two portions, of which • portion I shall be at least EUR 68,5 million, and shall be used pursuant to Article 1.2 (in words: seventeen million Euroa) below ("Portion I"), and • portion II shall not exceed EUR 1,5 million, and shall be used pursuant to Article 1.2 (b) below ("Portion II") (Portion I and Portion II together are referred to as the "Loan"). 1.2 Channelling Channeling and purpose of the Loan. . a) The Borrower will use the Loan exclusively for the Programme shall channel Portion I to finance investment measures and (if necessary) expert services of up to EUR 700,000 to improve the provision of communal water supply and wastewater management in medium-sized towns / municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town / town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”). To this effect) and to their respective public utility companies in charge of wastewater management (each such company hereinafter referred to as “Programme-Executing Agency”, the Borrower will channel the Loan in full to the Municipalities and their corresponding water and wastewater utilities (together as “Project Programme-Executing Agencies”, each a “Project Executing Agency”) on the conditions set forth in Article 2 2, and ensure that the channelled Loan amounts are used Municipalities and the Programme-Executing Agencies will use Portion I exclusively to finance investments and expert services in accordance with the Programme. Regarding the implementation and improvement of wastewater infrastructure measures of the “Water Supply and Wastewater Treatment in Medium-Sized Municipalities in Serbia VI Programme” to improve the waste water systems in the Municipalities. The Borrower, the Borrower will act through in this respect represented by the Ministry of Construction, Transport and Infrastructure. 1.3 The Borrower Infrastructure (the ”MCTI”) will ensure that both, both the Municipalities and the Project Programme- Executing Agencies, Agencies will be jointly responsible for the implementation of the individual investment measuresmeasures under Portion I. b) The Borrower will use Portion II exclusively to finance expert services for the implementation and improvement of wastewater infrastructure measures with respect to the Municipalities. The projects as set out in a) and b) above with respect to Portion I and Portion II are hereinafter collectively referred to as the “Programme”. 1.4 1.3 The Borrower, each Municipalityin this respect represented by the MCTI, its respective Project Executing Agency acting as the Programme implementing unit, and KfW will determine the details of the Programme, including Programme and the investment measures, supplies and services to be financed from the Loan, within each Municipality in Loan by separate agreements (hereinafter referred to as "Separate Agreements", each a “Separate Agreement”). 1.5 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or their Project the Programme-Executing Agencies, as well as customs duties may will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services services, and equipment for the Programme shall be exempted from VAT.

Loan. 1.1 Amount. KfW will extend to the Borrower a Loan loan not exceeding a total of‌ split in two portions, of which • portion I shall be at least EUR 68,5 million, and shall be used pursuant to Article 1.2 (in words: seventeen million Euroa) below ("Portion I"), and • portion II shall not exceed EUR 1,5 million, and shall be used pursuant to Article 1.2 (b) below ("Portion II") (Portion I and Portion II together are referred to as the "Loan"). 1.2 Channelling Channeling and purpose of the Loan. . a) The Borrower will use the Loan exclusively for the Programme shall channel Portion I to finance investment measures and (if necessary) expert services of up to EUR 700,000 to improve the provision of communal water supply and wastewater management in medium-sized towns / municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town / town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”). To this effect) and to their respective public utility companies in charge of wastewater management (each such company hereinafter referred to as “Programme-Executing Agency”, the Borrower will channel the Loan in full to the Municipalities and their corresponding water and wastewater utilities (together as “Project Programme-Executing Agencies”, each a “Project Executing Agency”) on the conditions set forth in Article 2 2, and ensure that the channelled Loan amounts are used Municipalities and the Programme-Executing Agencies will use Portion I exclusively to finance investments and expert services in accordance with the Programme. Regarding the implementation and improvement of wastewater infrastructure measures of the “Water Supply and Wastewater Treatment in Medium-Sized Municipalities in Serbia VI Programme” to improve the waste water systems in the Municipalities. The Borrower, the Borrower will act through in this respect represented by the Ministry of Construction, Transport and Infrastructure. 1.3 The Borrower Infrastructure (the ”MCTI”) will ensure that both, both the Municipalities and the Project Programme-Executing Agencies, Agencies will be jointly responsible for the implementation of the individual investment measuresmeasures under Portion I. b) The Borrower will use Portion II exclusively to finance expert services for the implementation and improvement of wastewater infrastructure measures with respect to the Municipalities. The projects as set out in a) and b) above with respect to Portion I and Portion II are hereinafter collectively referred to as the “Programme”. 1.4 1.3 The Borrower, each Municipalityin this respect represented by the MCTI, its respective Project Executing Agency acting as the Programme implementing unit, and KfW will determine the details of the Programme, including Programme and the investment measures, supplies and services to be financed from the Loan, within each Municipality in Loan by separate agreements (hereinafter referred to as "Separate Agreements", each a “Separate Agreement”). 1.5 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or their Project the Programme-Executing Agencies, as well as customs duties may will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services services, and equipment for the Programme shall be exempted from VAT.

Loan. 1.1 Amount. KfW will extend to the Borrower a Loan not exceeding a total of split in two portions, the amount of the portions still to be specified in the Separate Agreement (as defined in words: seventeen million EuroArticle 1.3 below), of which • portion I shall be used pursuant to Article 1.2 below (“Portion I”), and • portion II, amounting to at least EUR 19 million, shall be used pursuant to Article 1.2 below (“Portion II”) ("Portion I and Portion II together are referred to as the “Loan"”). 1.2 Channelling and purpose of the Loan. The Borrower will use the Loan Portion I exclusively to finance consulting services for the Programme to finance investment measures and (if necessary) expert services implementation of up to EUR 700,000 to improve the provision of communal water supply and wastewater a waste management system in medium-sized towns / participating municipalities in the Republic of Serbia selected by the Borrower in consultation with KfW (each such town / town/municipality hereinafter referred to as “Municipality”, together as “Municipalities”) (“Programme Component I”). To this effect, the The Borrower will channel the Loan in full Portion II to the Municipalities and their corresponding water and wastewater utilities respective public utility companies in charge of waste management (“Project Programme-Executing Agencies”, each a “Project Programme-Executing Agency”) ), on the conditions set forth in Article 2 2, and ensure that the channelled Loan amounts are used Municipalities and the Programme-Executing Agencies will use Portion II exclusively to finance investments and expert services in accordance with the Programme. Regarding waste management investment measures for the implementation of a waste management system in the Programme, the Borrower will act through the Ministry of Construction, Transport and Infrastructure. 1.3 Municipalities (“Programme Component II”). The Borrower will ensure that both, both the Municipalities and the Project Programme-Executing Agencies, Agencies will be jointly responsible for the implementation of the individual investment measuresmeasures under Programme Component II. Programme Component I and Programme Component II are hereinafter collectively refererred to as the “Programme”. 1.4 1.3 The Borrower, each Municipalityin this regard represented by the Ministry of Construction, its respective Project Executing Agency Transport and Infrastructure (the “MCTI”) and KfW will determine the details of the Programme, including the investment measures, supplies and services measures to be financed from the Loan, within each Municipality in Loan by separate agreements agreement (hereinafter referred to as "Separate Agreements", each a “”Separate Agreement”). 1.5 1.4 Taxes, charges, customs duties. Taxes and other public charges owed by the Borrower, any of the Municipalities or their Project Programme-Executing Agencies, as well as customs duties may will not be financed from the Loan. In addition to the foregoing, the goods and services imported into the Republic of Serbia for the Programme shall be exempted from customs fees and the trade of goods, services services, and equipment for the Programme shall be exempted from VAT.