Common use of Deposits of Grant Amounts Clause in Contracts

Deposits of Grant Amounts. Except as the World Bank may otherwise agree: 1. all withdrawals from the Grant Account shall be deposited by the World Bank into an account designated by the Recipient and acceptable to the World Bank; and 2. the Recipient shall ensure that upon each deposit of an amount of the Grant into this account, an equivalent amount is accounted for in the Recipient’s budget management system, in a manner acceptable to the World Bank.

Deposits of Grant Amounts. Except as the World Bank may otherwise agree: 1. all withdrawals from the Grant Account shall be deposited by the World Bank into an a dedicated foreign currency account designated by the Recipient and acceptable to the World BankBank (“Deposit Account”); and 2. the Recipient shall ensure that upon each deposit of an amount of the Grant into this account, an equivalent amount is accounted for in the Recipient’s budget management system, in a manner acceptable to the World Bank.