THE WORLD BANK IBRD * IDA I WORLD BANKGROUP MARA K. WARWICK Country Director Brunei, Malaysia, Philippines and Thailand November 28, 2019 Honorable Carlos Dominguez Secretary OFFICIAL Department of Finance Manila DOCUMENTS Republic of the Philippines Re: IBRD Loan No. 8967-PH Additional Financing for the Social Welfare Development and Reform Project II Additional Instructions: Disbursement and Financial Information Letter Dear Secretary Dominguez: I refer to the Loan Agreement between Republic of the Philippines (the "Borrower") and the International Bank for Reconstruction and Development (the "Bank") for the above-referenced Project. The General Conditions, as defined in the Loan Agreement, provide that the Borrower may from time to time request withdrawals of Loan Amounts from the Loan Account in accordance with the Disbursement and Financial Information Letter, and such additional instructions as the Bank may specify from time to time by notice to the Borrower. The General Conditions also provide that the Disbursement and Financial Information Letter may set out Project specific financial reporting requirements. This letter constitutes such Disbursement and Financial Information Letter ("DFIL"), and may be revised from time to time. I. Disbursement Arrangements, Withdrawal of Loan Funds, and Reporting of Uses of Loan Funds The Disbursement Guidelines for Investment Project Financing, dated February 2017, ("Disbursement Guidelines") are available in the Bank's public website at https://www.worldbank.org and its secure website "Client Connection" at https://clientconnection.worldbank.or . The Disbursement Guidelines are an integral part of the DFIL, and the manner in which the provisions in the Disbursement Guidelines apply to the Loan is specified below. (i) Disbursement Arrangements: The table in Schedule 1 sets out the disbursement methods which may be used by the Borrower, information on registration of authorized signatures, processing of withdrawal applications (including minimum value of applications) and instructions on supporting documentation. (ii) Electronic Delivery. Section 10.01 (c) of the General Conditions. The Bank may permit the Borrower to electronically deliver applications (with supporting documents) through the Bank's web-based portal (https://clientconnection.worldbank.org) "Client Connection". This option may be effected if the officials designated in writing by the Borrower who are authorized to sign and deliver Applications have registered as users of "Client Connection". The designated officials may deliver Applications electronically by completing the Form 2380, which is accessible through "Client Connection". By signing the Authorized Signatory Letter, the Borrower confirms that it is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the Bank by electronic means. The Borrower may continue to exercise the option of preparing and delivering Applications in paper form. The Bank reserves the right and may, in its sole discretion, 26F One Global Place, 51h Avenue corner 25h Street, Bonifacio Global City, Taguig City 1634, Philippines Telephone: (632) 4652500 | Facsimile: (632) 4652505 temporarily or permanently disallow the electronic delivery of Applications by the Borrower. By designating officials to use SIDC and by choosing to deliver the Applications electronically, the Borrower confirms through the authorized signatory letter its agreement to: (a) abide by the Terms and Conditions of Use of Secure Identification Credentials in connection with Use of Electronic Means to Process Applications and Supporting Documentation, available in the Bank's public website at https://worldbank.org and "Client Connection"; and (b) to cause such official to abide by those terms and conditions. II. Financial Reports and Audits (i) Financial Reports. The Borrower shall, through Department of Social Welfare and Development prepare and through Department of Finance, furnish to the Bank, Interim Unaudited Financial Report (IUFR) upon submission of each withdrawal application, not later than sixty (60) days after the end of the period covering such interim unaudited financial report/withdrawal application, but no less than once per calendar year and, in form and substance satisfactory to the Bank. (ii) Audits. Each audit of the Financial Statements must cover the period of one fiscal year of the Borrower. The audited Financial Statements for each such period must be furnished to the Bank not later than nine (9) months after the end of such period. III. Other Information For additional information on disbursement arrangements, please refer to the Loan Handbook available on the Bank's website (http://www.worldbank.org/) and "Client Connection". The Bank recommends that you register as a user of "Client Connection". From this website you will be able to prepare and deliver Applications, monitor the near real-time status of the Loan, and retrieve related policy, financial, and procurement information. For more information about the website and registration arrangements, or if you have any queries in relation to the above, please contact the World Bank by email at askLoans@worldbank.org using the above reference. Yours sincerely, Mara K. Warwick Country Director for Brunei, Malaysia, Philippines and Thailand Attachments 1. Form of Authorized Signatory Letter 2. Format of Interim Unaudited Financial Report Schedule 1: Disbursement Provisions Country Republic of the Philippines Closing Date Section III.B.2 of Schedule 2 to the Loan Agreement. Loan 8Borrower Republic of the Philippines Number 8967-PH_________________________ Name of the Additional Financing for the Disbursement Deadline Four months after the closing date. Project Social Welfare Development Date and Reform Project II Subsection 3.7 ** Disbursement Methods Methods Supporting Documentation Section 2 (**) Subsections 4.3 and 4.4 (**) Direct Payment No Reimbursement Yes Interim Unaudited Financial Report (IUFR) (Attachment 2) Certificate on conditional cash transfer grants liquidated Advance No Special Commitments No The minimum value of withdrawal application for Reimbursement is USD 10,000 equivalent. Authorized Signatories Letter: Withdrawal and Documentation Applications: The World Bank The World Bank 26th Floor, One Global Place 26" Floor, One Global Place 5th Avenue corner 25' Street, Bonifacio Global City 5th Avenue corner 25t Street, Bonifacio Global City Taguig City, Philippines Taguig City, Philippines Attention: Country Director Attention: Senior Regional Team Leader, WFACS (i) In case of category 1 of the table in Schedule 2 Section III.A of the Loan Agreement- Conditional Cash Transfer Grants under the Project, conditional cash transfer grants liquidated and paid are to be included in the IUFR. (ii) Reimbursement withdrawal applications are to be submitted atleast once in a year. *Sections and subsections indicated relate to the Disbursement Guidelines for Investment Project dated Financing 2017. Attachment 1 - Form of Authorized Signatory Letter [Letterhead] Department of Finance [Street address] [DATE] The World Bank 26th Floor, One Global Place 5th Avenue corner 25th Street, Bonifacio Global City Taguig City, Philippines Attention: Country Director Re: IBRD Loan No. 8967-PH (Additional Financing for the Social Welfare Development and Reform Project II) I refer to the Loan Agreement between the International Bank for Reconstruction and Development (the "World Bank") and Republic of the Philippines (the "Borrower"), dated _, providing the above Loan. For the purposes of Section 2.03 of the General Conditions as defined in the Agreement, any '[one] of the persons whose authenticated specimen signatures appear below is authorized on behalf of the Borrower to sign applications for withdrawal under this Loan. For the purpose of delivering Applications to the World Bank, 2[each] of the persons whose authenticated specimen signatures appears below is authorized on behalf of the Borrower, acting '[individually] 4[jointly], to deliver Applications, and evidence in support thereof on the terms and conditions specified by the World Bank. s[This confirms that the Borrower is authorizing such persons to accept Secure Identification Credentials (SIDC) and to deliver the Applications and supporting documents to the World Bank by electronic means. In full recognition that the World Bank shall rely upon such representations and warranties, including without limitation, the representations and warranties contained in the Terms and Conditions of Use of Secure Identification Credentials in connection with Use ofElectronic Means to Process Applications and Supporting Documentation ("Terms and Conditions of Use of SIDC"), the Borrower represents and warrants to the World Bank that it will cause such persons to abide by those terms and conditions.] I Instruction to the Borrower: Stipulate if more than one person needs to sign Applications, and how many or which positions, and if any thresholds apply. Please delete this footnote in final letter that is sent to the Bank. 2 Instruction to the Borrower: Stipulate if more than one person needs tojointly sign Applications, if so, please indicate the actual number. Please delete this footnote in final letter that is sent to the Bank. I Instruction to the Borrower: Use this bracket if any one of the authorized persons may sign; if this is not applicable, please delete. Please delete this footnote infinal letter that is sent to the Bank. 4 Instruction to the Borrower: Use this bracket only if several individuals must jointly sign each Application; if this is not applicable, please delete. Please delete this footnote infinal letter that is sent to the Bank. s Instruction to the Borrower: Add this paragraph if the Borrower wishes to authorize the listed persons to accept Secure Identification Credentials and to deliver Applications by electronic means; if this is not applicable, please delete the paragraph. Please delete this footnote infinal letter that is sent to the Bank. This Authorization replaces and supersedes any Authorization currently in the World Bank records with respect to this Agreement. [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: [Name], [position] Specimen Signature: Yours truly, / signed / [Position] Attachment 2 - Format of Interim Unaudited Financial Report 7 DEPARTMENT OF SOCIAL WELFARE AND DEVELOPMENT Interim Financial Reports For the period ending This Semester Cumulative To Date Component 1: Support to the Pantawid Pamilya Pilipino Program 1 4Ps Grants 0.00 0.00 Component 2: Strenthening CCT Implementation, Monitoring and Evaluation 2a Monitoring and Evaluation Expenses 0.00 0.00 2b Information, Education and Communication Expenses 0.00 0.00 2c Others 0.00 0.00 Total Expenditures for Component 2 0.00 0.00 Total Expenditures by Component 0.00 0.00 Prepared By: Signature: Name: Position: Date: Reviewed By. Signature: Name: Position: Date: Approved By: Signature: Name: Position: Date: � �а � �_ �� � � �� � � а �г Е GI � � � OG g v� � � У �^ � � г S 8� � Z г � °;6 � � � � � _ � rz а5 � Ё � � � д �9 � _ � О ы 8 Ё G; У � и � 7 �i � � $ а R � `� - � � � � � � а � � t � � w3 b� � О й� о ��в � �� � н _ `� г- � г " Гг � 5 с.1 В' "' � LL � � � В' � ь - а � � � � о � н � L '� А Ё �° г g_ ;� ; � � � �уΡ� - iS J ° ё � �х � `о ы _ � � � о � � �_ о � �° г ё g а - ,ц i9 $ 9 а q � иЭ� � '�' Э � 8 г �С� � U' О 8 � у � - _ - _ _ � - - � � й F � ьff �