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GEORGIAN SOCIAL INVESTMENT FUND
January 21, 1998
International Development Association
1818 H Street, N.W.
Washington D.C. 20433
United States of America
Re:
Credit No. 3020 GE
(Social Investment Fund Project)
Paragraph 4 (a) of Schedule 2 to the Project
Agreement
Project Monitoring
Indicators
Dear Sirs and Mesdames:
This letter refers to paragraph 4 (a) of Schedule 2 to the Project Agreement of
this date between the Georgian Social Investment Fund (GSIF) and the International
Development Association (the Association) for the above-captioned Credit. GSIF hereby
confirms to the Association that the indicators set forth in the attachment to this
letter shall serve as a basis for the Borrower to monitor and evaluate the progress of
the Project and the achievement of the objectives thereof.
Very truly yours,
GEORGIAN SOCIAL INVESTMENT FUND
By
    Authorized Representative
Attachment