From PMU to Special Purpose Vehicle Sample Clauses

From PMU to Special Purpose Vehicle. (SPV) in Bihar. During the implementation of the Program, the State of Bihar may set up a special purpose vehicle, 100% Government owned, as long term implementing agency (IA) for the future projects. The SPV could either be a locally registered society9 or another legal entity acceptable to ADB. The PMU would work under the supervision of the ECAM and will be responsible in (i) incorporating the SPV, (ii) transfering of selected project sites (along with assets) to this SPV, and (iii) ensuring overall preparedness for the AIDIP. The PMU shall not be required once the SPV gets incorporated; however, SPV will replicate implementation arrangements satisfactory to ADB.
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Related to From PMU to Special Purpose Vehicle

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