Conformed Copy - L4300 - SZOPAD Social Fund Project - Supplemental Letter 3

Page 1 REPUBLIC OF THE PHILIPPINES April 8, 1998 International Bank for Reconstruction and Development 1818 H Street, N.W. Washington, D.C. 20433 Re: Loan No. 4300 PH (SZOPAD Social Fund Project) Performance Indicators Ladies and Gentlemen: I refer to the Loan Agreement of even date herewith between Republic of the Philippines (the Borrower) and the International Bank for Reconstruction and Development (the Bank) for the above-noted Project (the Loan Agreement). For purposes of Paragraph 13 of Section I of Schedule 5 to the Loan Agreement, the Borrower shall, and shall cause the SZOPAD Social Fund to, monitor and evaluate the carrying out of the Project in accordance with the indicators set forth in the Annex to this Letter. Please confirm your agreement to the foregoing by signing on the form of confirmation below. Sincerely yours, REPUBLIC OF THE PHILIPPINES By _________________________ Authorized Representative AGREED: INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By _________________________ Authorized Representative