Conformed Copy - C2956 - Private Sector Development and Capacity Building Project - Supplemental Letter

Page 1 Republic of Madagascar July 14, 1997 International Development Association 1818 H Street, N.W. Washington, D.C. 20433 United States of America Re: Credit No. 2956-MAG (Private Sector Development and Capacity Building Project) Development Credit Agreement (Schedule 4) Performance Indicators Dear Sirs: We are pleased to refer to Schedule 4 to the above mentioned Development Credit Agreement and, more particularly, to paragraph 2 (a) thereof, and to confirm, on behalf of the Republic of Madagascar (the Borrower), that the performance indicators agreed upon between the Borrower and the Association for the purposes of the Project are as shown in the Annex to this letter. It is our understanding that, in making the above Credit, the Association may rely on the statements herein set forth or referred to. Very truly yours, Republic of Madagascar By /s/ Biclair Andrianantoandro Authorized Representative