Common use of Particular Covenants Clause in Contracts

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 2 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association shall otherwise agree, procurement of the goods on any proposed action to be financed out of taken after the proceeds disbursement of the Credit shall be governed by which would have the provisions effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 2 to this Agreement. (ad) The If, after said exchange of views, the Association shall have given notice to the Borrower that the progress achieved and actions taken are not satisfactory and, within 90 days after such notice, the Borrower shall maintain or cause not have achieved progress and taken actions satisfactory to be maintained records and accounts adequate the Association, then the Association may, by notice to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out Borrower, cancel the unwithdrawn amount of the proceeds of the CreditCredit or any part thereof. (b) The Section 3.02. Upon the Association’s request, the Borrower shall: (ia) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Deposit Account for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (iib) furnish to the Association as soon as available, but in any case not later than nine four months after the end date of each the Association’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iiic) furnish to the Association such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association shall from time to time have reasonably requestrequested. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit or the Swiss Contribution shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditCredit or the Swiss Contribution. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information informa- tion concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account or the Swiss Contribution Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance accor- dance with paragraph paragraph (a) of this Section, records re- cords and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Asso- ciation has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or the Swiss Contribution Account was made, all records (contracts, ordersor- ders, invoices, bills, receipts and other documentsdocu- ments) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in- cluded in the annual audits referred to in paragraph (b) of this Section and that the report of such audit audits contains a separate opinion opin- ion by said auditors as to whether the statements state- ments of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawalswith- drawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified speci- fied in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expendi- tures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine three months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contractscon-tracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure expendi-ture submitted during such fiscal year, together with the procedures and internal controls involved in-volved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account Account, for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the ProgramProgram and the actions specified in Schedule 4 to this Agreement, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. Section 3.03. Not later than the 15th of each month, the Borrower shall furnish to the Bank a report of such scope and detail as the Bank shall have reasonably requested, on the prices of crude oil, petroleum products and natural gas in effect during the last two preceding months in Argentina. (a) The Borrower shall maintain or cause to be maintained separate records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. Section 3.05. The Borrower shall establish, by not later than January 1, 1992, and thereafter maintain, a system, satisfactory to the Bank, for determining the sale price of natural gas, such system to include, inter alia, mechanisms to ensure that the sale price of natural gas for industries, power stations and the commercial sector shall be, in each calendar month, equivalent to at least ninety percent of the average price charged for fueloil, at caloric equivalent, in the respective calendar month immediately preceding.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment comments a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) The first such exchange of views shall take place not later than July 31, 1992, or such other date as the Borrower and the Association may otherwise agree. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expendituresexpendi- tures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such yearfiscal year or ninety days after the last withdrawal from the Credit Account, whichever date is the earliest, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year or the period in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits audit(s) referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal yearyear or period, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) For the purposes of the Program implementation the Borrower shall make the equivalent of the proceeds of the Loan in local currency available to the City on a grant basis under the Grant Agreement to be entered into among the Borrower, represented by the MOF, the Republic of Tatarstan and the City, under terms and conditions acceptable to the Bank. (b) The Borrower shall, and shall cause the Republic of Tatarstan and the City, to exercise their rights under the Grant Agreement in such a manner as to protect the interests of the Borrower, the Bank, the Republic of Tatarstan and the City, and to accomplish the purposes of the Program, and, except as the Bank shall otherwise agree, not to assign, amend, abrogate or waive the Grant Agreement or any provision thereof. Section 3.02. The Borrower, the Republic of Tatarstan and the City shall carry out the Program in accordance with the provisions of the Grant Agreement with due diligence and efficiency and in conformity with appropriate administrative and financial practices, and provide, promptly as needed, the funds, facilities, services and other resources required for the Program. (a) The Borrower Borrower, the City and the Association Bank shall from time to time, at the request of either partyany of the three parties, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower and the City shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower and the City shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program including any action specified in Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) Section 3.04. The Borrower shall: (ia) have the records Deposit Account and accounts referred to the entire flow of the Loan funds, until it reaches the City’s account in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, its Central Bank audited by independent auditors acceptable to the AssociationBank not later than four months after the disbursement of each Loan tranche; (iib) furnish to the Association Bank as soon as available, but in any case not later than nine months one month after the end completion of each such yearaudit, a certified copy of the report of such audit by said auditorsaudit, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iiic) furnish to the Association Bank such other information concerning said records and accounts the Deposit Account, the Loan flow of funds and the audit thereof as the Association Bank shall from time to time have reasonably requestrequested. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, Program in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain maintain, or cause to be maintained maintained, records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account Account, for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. Section 3.01. The Borrower shall carry out Part A and, if so determined under Section 3.05 of this Agreement, Part B of the Project with due diligence and efficiency and in conformity with appropriate commercial, administrative and financial practices, and shall provide, promptly as needed, the funds, facilities, services and other resources required for the Project. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 Schedules 5 and 6 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.023.03. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 4 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect reflect, in accordance with consistently maintained sound accounting practices practices, the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. Section 3.05. The Borrower shall submit a plan for the reduction of its payments of principal, interest and other charges under loans from non-official external creditors. If in the exclusive opinion of the Bank such plan meets the requirements for Bank support of debt reduction operations, the Borrower and the Bank shall seek to conclude an agreement (the Implementation Agreement) providing for the use of the portion of the proceeds of the Loan allocated to Category (2) in the table of Schedule 1 to this Agreement in the execution of the plan.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by (c) Without limitation upon the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section, the Borrower shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section including those for 3.02. Upon the Special Bank’s request, the Borrower shall: (a) have the Deposit Account for each fiscal year audited, audited in accordance with appropriate appro- priate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (iib) furnish to the Association Bank as soon as available, but in any case not later than nine six (6) months after the end date of each the Bank’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iiic) furnish to the Association Bank such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association Bank shall from have reasonably requested. Section 3.03. In implementing social and environmental mitigation measures associated with the transfer of at least 20 mines to the UDKR, the Borrower shall within sixty (60) days after the Effective Date: (a) make the statutory payments due to the laid off, retired and disabled workers of the said mines within monetary limits and time periods prescribed by the Borrower’s Social Benefits Laws; (b) complete the distribution of free coal to time reasonably request.laid off, retired and disabled workers of the said mines and family members of former mine employees killed in mining accidents in said mines; and (c) For all expenditures with respect put into effect satisfactory arrangements for continued access of laid off, retired and disabled workers of the said mines to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Social Assets. Section 3.04. The Borrower shall: , by February 28, 1997, (i) maintain or cause to be maintainedevaluate, in accordance with paragraph a manner satisfactory to the Bank, the social protection and environmental mitigation measures undertaken under the Coal Pilot Project, funded under the Loan Agreement dated July 11, 1996 between the Borrower and the Bank (a) of this SectionLoan No. 4016 UA), records and accounts reflecting such expenditures; (ii) retainbased on the conclusions of the said evaluation, until at least one year after adopt an action plan, satisfactory to the Association has received Bank, for social protection and environmental mitigation measures to be undertaken in connection with mine restructuring and closure under the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawalsProgram.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 4 to this Agreement. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate appro-priate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six (6) months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one (1) year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, ,can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expendituresexpen- ditures; (ii) retain, until at least one year after the Association association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expendituresexpen- ditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment comment, a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement pro- curement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. Section 3.03. The Borrower shall cause the Junta Monetaria, the Banco Central and the Superintendencia to cooperate fully, and to coordinate with, each other in the carrying out of the Program, and to take all actions, including legal, administrative and regulatory actions, necessary or appropriate in the carrying out of the Program. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expen- ditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section Section, including those for the Special Account Account, for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning concern- ing said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, separate records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparationpre- paration, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 2 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association shall otherwise agree, procurement of the goods on any proposed action to be financed out of taken after the proceeds disbursement of the Credit shall be governed by which would have the provisions effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 2 to this Agreement. Section 3.02. Upon the Association’s request, the Borrower shall: (a) have the Deposit Account audited, in accordance with appropriate audited principles consistently applied, by independent auditors acceptable to the Association; (b) furnish to the Association as soon as available, but in any case not later than nine months after the date of the Association’s request for such audit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (c) furnish to the Association such other information concerning said Deposit Account and the audit thereof as the Association shall have reasonably requested. (a) The Borrower shall maintain also maintain, or cause to be maintained maintained, records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditCredit allocated to Category (3). (b) The Borrower shall: (i) have the records and accounts referred to in paragraph paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain maintain, or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. (a) the Borrower shall take all measures necessary to carry out such studies as shall be required for the implementation of the Program, and are acceptable to the Association, including studies for: (i) the implementation of agricultural pricing and marketing policies; (ii) tax and tariff reforms; (iii) the introduction of a value added tax; (iv) the establishment of a national revenue authority; (v) a comprehensive review of land-related policies to be carried out by the Borrower’s Presidential Commission of Inquiry on Land Policy; and (vi) an evaluation of the impact of policy measures on the vulnerable segments of the Borrower’s population. (i) Consultants’ services required for the studies to be carried out under paragraph (a) above shall be procured under contracts awarded in accordance with the provisions of the "Guidelines for the Use of Consultants by World Bank Borrowers and by the World Bank as Executing Agency" published by the Bank in August 1981 (the Consultant Guidelines). For complex, time-based assignments or lump sum contracts, such contracts shall be based on the standard form of contract for consultants’ services issued by the Bank, with such modifications thereto as shall have been agreed by the Association. Where no relevant standard contract documents have been issued by the Bank, other standard forms acceptable to the Association shall be used. (ii) Notwithstanding the provisions of paragraph (b) (i) above, the provisions of the Consultant Guidelines requiring prior Association review or approval of budgets, short lists, selection procedures, letters of invitation, proposals, evaluation reports and contracts, shall not apply to: (A) contracts for the employment of consulting firms or individual consultants, estimated to cost less than $100,000 equivalent each, or (B) contracts for the employment of individual consultants estimated to cost less than $50,000 equivalent each. However, said exceptions to prior Association review shall not apply to: (A) the terms of reference for such contracts, (B) single- source selection of consulting firms or individual consultants, (C) assignments of a critical nature, as reasonably determined by the Association, (D) amend- ments to contracts for the employment of consulting firms raising the contract value to $100,000 equiva- lent or above, or (E) amendments to contracts for the employment of individual consultants raising the contract value to $50,000 equivalent or above.

Particular Covenants. (a) The Borrower and the Association Administrator shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and on the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Administrator for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Administrator shall reasonably request. Section 3.02. Except as the Association Administrator shall otherwise agree, procurement of the goods to be financed out of the proceeds of the African Facility Credit shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the operations, resources and expenditures financed out of the proceeds of the African Facility Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account B, audited for each fiscal year audited, in accordance with appropriate appro- priate auditing principles consistently applied, by independent auditors acceptable to the AssociationAdministrator; (ii) furnish to the Association Administrator, as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Administrator shall have reasonably requested; and (iii) furnish to the Association Administrator such other information concerning the said records and accounts and the audit thereof and said records as the Association Administrator shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the African Facility Credit Account and payments out of Special Account B were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, separate records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Administrator has received the audit report for the fiscal year in which the last withdrawal from the African Facility Credit Account or payment out of Special Account B was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationAdministrator’s representatives to examine such records; and (iv) ensure that such records and separate accounts are be included in the annual audits audit referred to in paragraph (b) of this Section and that the report thereof contain, in respect of such audit contains separate accounts, a separate opinion by said auditors as to whether the statements proceeds of expenditure submitted during the African Facility Credit withdrawn from the African Facility Credit Account or, paid out of Special Account B in respect of such fiscal year, together with expenditures were used for the procedures and internal controls involved in their preparation, can be relied upon purposes for which they were provided. Section 3.04. The Borrower shall sell the foreign currencies disbursed from the African Facility Credit Account to support the related withdrawalspurchasers of goods under the Program at the Kinshasa interbank rate or other market-determined rate.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. Section 3.03. Without limitation upon the provisions of Article IX of the General Conditions, the Borrower shall: (a) prepare and furnish to the Association not later than six (6) months after the Closing Date or such other date as may be agreed for this purpose between the Borrower and the Association, a plan, in such detail as the Association shall reasonably request, designed to ensure the continued achievement of the objectives of the Program; (b) afford the Association a reasonable opportunity to exchange views with the Borrower on said plan; and (c) thereafter, carry out said plan with due diligence and efficiency and in accordance with appropriate practices, taking into account the Association’s comments thereon. (a) The Borrower shall maintain maintain, or cause to be maintained maintained, records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain maintain, or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from f rom time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such yearyear or ninety days after the last withdrawal from the Credit Account, whichever date is the earliest, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year or the period in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal yearyear or period, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. Section 3.04. The Borrower shall: (a) open a counterpart funds account in BCM and make deposits in said account of the local currency obtained by the Borrower from the sale of foreign exchange provided under the Credit; and (b) use such counterpart funds for priority financing of the local currency costs of the measures included in the Program, acceptable to the Association.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 2 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment comments a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association shall otherwise agree, procurement of the goods on any proposed action to be financed out of taken after the proceeds disbursement of the Credit shall be governed by which would have the provisions effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) Section 3.02. The Borrower shall: (ia) maintain or cause to be maintained, in accordance with sound accounting practices consistently applied, records and accounts reflecting movements on the Deposit Account. (b) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Deposit Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, audited by independent auditors acceptable to the Association;, and in accordance with internationally acceptable auditing standards. (iic) furnish to the Association as soon as available, but in any case not later than nine three months after the end of each such year, a certified copy of the an opinion on such records and accounts and report of such audit audit, by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and. (iiid) furnish to the Association such other information concerning said such records and accounts accounts, and the audit thereof thereof, and concerning said auditors, as the Association shall may from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account Section, for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall shaLl furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures;; and (iii) enable the Association’s representatives to examine such records; and; (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement pro- curement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained separate records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year Fiscal Year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six (6) months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning con- cerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditureexpen- diture, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one (1) year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included includ- ed in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors audi- tors as to whether the statements of expenditure submitted during such fiscal yearFiscal Year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information informa- tion concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance accor- dance with paragraph paragraph (a) of this Section, records re- cords and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Asso- ciation has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contractscon- tracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in- cluded in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls con- trols involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall shall, from time to time, time at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account Account, for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures;; and (iii) enable the Association’s representatives to examine such records; and; (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparationprep- aration, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association;by (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedules (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods and services to be financed out of the proceeds of the Credit, the Swiss Contribution and the FINNIDA Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit, the Swiss Contribution and the FINNIDA Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account Account, the Swiss Contribution or the FINNIDA Credit Accounts were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account Account, the Swiss Contribution or the FINNIDA Credit Amounts was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Administrator shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Administrator for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Administrator shall reasonably request. Section 3.02. Except as the Association Administrator shall otherwise agree, procurement of the goods to be financed out of the proceeds of the African Facility Credit shall be governed by the provisions of Schedule 2 to this Agreement, subject to the eligibility restrictions set forth in Section 2.02 (b) of this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the African Facility Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationAdministrator; (ii) furnish to the Association Administrator, as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Administrator shall have reasonably requested; and (iii) furnish to the Association Administrator such other information concerning said records and accounts and the audit thereof as the Association Administrator shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the African Facility Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Administrator has received the audit report for the fiscal year in which the last withdrawal from the African Facility Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents.) evidencing such expenditures; (iii) enable the AssociationAdministrator’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower undertakes to implement the Program with due diligence to ensure that actions and policies adopted under the Program are put into effect. (b) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the consistency of the Borrower’s macroeconomic framework with the objectives of the Program, and the continued adherence of the Borrower to the Program. (c) The Borrower and the Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (bd) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by (e) Without limitation upon the provisions of paragraph (b) of this Section, the Borrower shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices Section 3.02. Upon the expenditures financed out of Bank’s request, the proceeds of the Credit. (b) The Borrower shall: (ia) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Deposit Account for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (iib) furnish to the Association Bank as soon as available, but in any case not later than nine four (4) months after the end date of each the Bank’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iiic) furnish to the Association Bank such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association Bank shall from time to time have reasonably requestrequested. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained separate records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year Fiscal Year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six (6) months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, separate records and accounts reflecting such expenditures; (ii) retain, until at least one (1) year after the Association Bank has received the audit report for the fiscal year Fiscal Year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal yearFiscal Year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, including the Program indicators agreed upon between the Borrower and the Bank, and in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year Fiscal Year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year Fiscal Year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documentsdocuments or custom certificates as appropriate) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal yearFiscal Year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits audit referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by the said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this AgreementProgram. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program or any action taken under the Program. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. (a) The Borrower shall maintain a PIU within the National Bank, to be headed, at all times by a coordinator with qualifications, terms of reference and experience satisfactory to the Association, assisted by qualified staff in adequate numbers acceptable to the Association; and (b) The PIU shall be responsible for advising on, overseeing and coordinating procurement and disbursement actions under the Credit.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. The Borrower shall, not later than December 31, 1988, assign the civil servants selected pursuant to the testing and evaluation operations or other qualified personnel to the positions authorized by the cadres organiques of the central departments of the Ministries of Plan and International Cooperation, Economy and Finance, and Administrative Reform and Civil Service. Section 3.03. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expen- ditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section Section, including those for the Special Account Account, for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparationpre- paration, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including and those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment comments a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement pro- curement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expen- ditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably reason- ably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparationpre- paration, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 2 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by (c) Without limitation upon the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section, the Borrower shall exchange views with the Bank on any proposed action to be taken after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program (including any action specified in Schedule 2 to this Agreement). Section including those for 3.02. Upon the Special Bank’s request, the Borrower shall cause NAFIN to: (a) have the Deposit Account for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the AssociationBank; (iib) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end date of each the Bank’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iiic) furnish to the Association Bank such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association Bank shall from time to time have reasonably requestrequested. (ca) For all expenditures The Borrower, through SHCP, shall enter into a contract (Contrato xx Xxxxxxx) with respect NAFIN, satisfactory to which withdrawals from the Credit Account were made on the basis of statements of expenditureBank, the Borrower shallwhereby: (i) NAFIN agrees to act as financial agent of the Borrower with regard to the Loan, meaning that, inter alia, NAFIN agrees to represent the Borrower vis-à-vis the Bank for purposes of submitting Loan withdrawal applications to the Bank in form and substance sufficient to justify disbursement by the Bank to the Borrower of Loan proceeds, agrees to maintain or cause and operate the Deposit Account in compliance with the terms of this Agreement and agrees to be maintainedensure that the obligations set forth in Section 3.02 of this Agreement are complied with; and (ii) the Borrower agrees that, through SHCP, the Borrower shall cooperate fully with NAFIN to ensure that NAFIN is able to comply with all of NAFIN’s obligations referred to in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures;. (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) The Borrower shall exercise its rights and carry out its obligations under the NAFIN Contract in such a manner as to protect the interests of the Bank and to accomplish the purposes of the Loan. Except as the Bank may otherwise agree, the Borrower shall not amend or fail to enforce any provision of the NAFIN Contract. In case of any conflict between the terms of the NAFIN Contract and those of this Section and that Agreement, the report terms of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawalsthis Agreement shall prevail.

Particular Covenants. (a) The Borrower and the Association shall shall, from time to time, time at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Association, for its review and comment comment, a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect reflect, in accordance with consistently maintained sound accounting practices practices, the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section Section, including those for the Special Account for each fiscal year year, audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall shall, from time to time time, reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing as evidence of such expenditures; (iii) enable the Association’s representatives to examine such recordsrecords upon prior notice; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section Section, and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. (a) The Borrower shall cause BSL to maintain a project unit (the Project Unit) in a form and with functions and staffing satisfactory to the Association. The Project Unit shall monitor: (i) the procurement of goods to be financed out of the proceeds of the Credit; and (ii) the withdrawal of said proceeds from the Credit Account. (b) The Borrower shall continue to maintain its Structural Adjustment Program Steering Committee (the SAPS Committee) and its Secretariat in a form and with functions and staffing satisfactory to the Association. The SAPS Committee shall: (i) monitor the timely carrying out by the Borrower of policy actions required under the Program; and (ii) prepare, and furnish to the Association at such times and in such detail as the Association shall reasonably request, reports on the Borrower’s economic performance under the Program. (c) The Secretariat of the SAPS Committee shall, inter alia, assess and evaluate: (i) progress made by the Borrower in taking the policy measures contained in the Program; and (ii) the impact of the Program on the Borrower’s economy. (d) The Borrower shall establish and thereafter maintain a Technical Committee in a form and with functions and staffing satisfactory to the Association. The Technical Committee shall review the flow of goods required during the carrying out of the Program and resolve any competing claims and procedural issues relating to such goods.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. (c) Without limitation upon the provisions of paragraph (a) of this Section, the Borrower shall exchange views with the Association on any proposed action to be taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in Schedule 3 to this Agreement. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents, or customs certificates, as appropriate) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall shall, from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Association, for its review and comment comment, a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect reflect, in accordance with consistently maintained sound accounting practices practices, the expenditures financed out of the of.the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account A, audited for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association Association, as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall shall, from time to time time, reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain maintain, or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account or payment out of Special Account A was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are be included in the annual audits referred to in paragraph (b) of this Section Section, and that the report of such audit contains contain a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. Section 3.04. The Borrower shall sell the foreign currencies disbursed from the Credit Account to the purchasers of goods under the Program at the Kinshasa interbank rate or other market determined rate.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information informa- tion concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (aSection 4.01. In the carrying out of the Road Subprojects and those activities under the Project described in paragraph 3(B) The Borrower of Schedule 1 to this Grant Agreement and in the Association operation of the Project facilities in relation to the Road Subprojects, the Recipient shall from time perform, or cause to timebe performed, at all obligations set forth in Schedule 4 to this Grant Agreement. Section 4.02. In the request of either party, exchange views on the progress achieved in carrying out the Program Railway Subproject and operation of the actions specified Project facilities in relation to the Railway Subproject, the Recipient shall perform, or cause to be performed, all obligations set forth in Schedule 3 4 to this the Initial Railway Grant Agreement. (b) Prior Section 4.03. In addition to each such exchange of viewsthe obligations described in Section 4.02, the Borrower Recipient shall furnish to ensure that the Association for its review and comment a report on Railway Subproject does not have any environmental, indigenous peoples or involuntary resettlement impacts, all within the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement meaning of the goods Safeguard Policy Statement. In the event that the Railway Subproject does have any such impact, the Recipient shall take all steps required to be financed out ensure that the Railway Subproject complies with the applicable laws and regulations of the proceeds of Recipient and with the Credit shall be governed by the provisions of Schedule 2 to this AgreementSafeguard Policy Statement. (a) The Borrower Recipient shall maintain (i) maintain, or cause to be maintained records and maintained, separate accounts adequate to reflect in accordance with consistently maintained sound accounting practices for the expenditures financed out of the proceeds of the Credit. Project; (b) The Borrower shall: (iii) have the records such accounts and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year auditedrelated financial statements audited annually, in accordance with appropriate auditing principles standards consistently applied, by independent auditors whose qualifications, experience and terms of reference are acceptable to the Association; ADB; (iiiii) furnish to the Association ADB, as soon as available, available but in any case event not later than nine 6 months after the end of each such related fiscal year, a certified copy copies of such audited accounts and financial statements and the report of such audit by said the auditors relating thereto (including the auditors' opinion on the use of the Grant proceeds and compliance with the financial covenants of this Grant Agreement as well as on the use of the procedures for imprest account and statement of expenditures), of such scope all in the English language; and in such detail as the Association shall have reasonably requested; and (iiiiv) furnish to the Association ADB such other information concerning said records such accounts and accounts financial statements and the audit thereof as the Association ADB shall from time to time reasonably request. (cb) For all expenditures The Recipient shall enable ADB, upon ADB's request, to discuss the Recipient's financial statements for the Project and its financial affairs related to the Project from time to time with respect the auditors appointed by the Recipient pursuant to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph subsection (a) hereinabove, and shall authorize and require any representative of this Sectionsuch auditors to participate in any such discussions requested by ADB, provided that any such discussion shall be conducted only in the presence of an authorized officer of the Recipient unless the Recipient shall otherwise agree. Section 4.05. The Recipient shall enable ADB's representatives to inspect the Project, the Goods and Works, and any relevant records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six (6) months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures;; and (iii) enable the Association’s representatives to examine such records; and; (iv) ensure that such said accounts and records shall be audited on a semiannual basis by said auditors, who shall prepare audit reports accordingly and accounts are included in furnish them to the annual audits referred to in paragraph Association, not later than three (b3) of this Section and that months after the report end of such semiannual audit contains a separate period, along with an opinion by said auditors as to whether the statements of expenditure submitted during such fiscal yearperiod, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain maintain, or cause to be maintained maintained, records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expen- ditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account Accounts for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain maintain, or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall shall, from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section Section, including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by (c) Without limitation upon the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section, the Borrower shall, to the extent possible, exchange views with the Bank on any proposed action to be taken by the Borrower after the disbursement of the Loan which would have the effect of materially reversing the objectives of the Program, or any action taken by the Borrower under the Program, including any action specified in Schedule 3 to this Agreement. Section including those for 3.02. Upon the Special Bank’s request, the Borrower shall: (a) have the Deposit Account for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (iib) furnish to the Association Bank as soon as available, but in any case not later than nine six months after the end date of each the Bank’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iiic) furnish to the Association Bank such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association Bank shall from time to time have reasonably requestrequested. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) By April 30, 1997, the Borrower shall submit to the Bank for comment the proposed revisions of this Sectionthe banking supervision agency’s supervisory strategy, records examination program and accounts reflecting such expenditures;institutional development plan. (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) By April 30, 1997, unless otherwise agreed by the Bank, the banking supervision agency shall adopt its revised supervisory strategy, examination program and institutional development plan acceptable to the Bank. Section 3.04. Before approving any amendments of this Section and that APVRt.’s tendering rules, the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together Borrower shall consult with the procedures Bank and internal controls involved in their preparation, can be relied upon to support take into account the related withdrawalsBank’s comments on such proposed amendment.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association Bank shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 4 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association Bank for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association Bank shall reasonably request. Section 3.02. Except as the Association Bank shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit Loan shall be governed by the provisions of Schedule 2 3 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and separate accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the CreditLoan. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the AssociationBank; (ii) subject to paragraph 11 of Schedule 4 to this Agreement, furnish to the Association Bank as soon as availableavail- able, but in any case not later than nine months ninety days after the end last withdrawal from the Loan Account has been made under each of each such yearthe First and Second Tranches, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association Bank shall have reasonably requested; and (iii) furnish to the Association Bank such other information concerning said records and accounts and the audit thereof as the Association Bank shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Loan Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance accor- dance with paragraph paragraph (a) of this Section, records re- cords and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Bank has received the audit report for the fiscal year in which the last withdrawal from the Credit Loan Account was made, all records (contracts, ordersor- ders, invoices, bills, receipts and other documentsdocu- ments) evidencing such expenditures; (iii) enable the AssociationBank’s representatives to examine such records; and (iv) ensure that such records and accounts are included in- cluded in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls con- trols involved in their preparation, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment comments a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records records, and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles prin- ciples consistently applied, by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine four months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals. (a) The Borrower shall ensure that BSL continues to maintain the SAPDU in a form and with functions and staffing satisfactory to the Association. (b) The Borrower shall continue to maintain the SAPS Committee and its Secretariat in a form and with functions and staffing satisfactory to the Association.

Particular Covenants. (a) The Borrower and the Association shall shall, from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement.Schedule (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain maintain, or cause to be maintained maintained, records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph paragraph (a) of this Section Section, including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit suchaudit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to uponto support the related withdrawals. Section 3.04. Except as the Association shall otherwise agree, the Borrower shall ensure that no actions shall be taken inconsistent with the Program.

Particular Covenants. (a) The Borrower and Section 4.01. In the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds Project and operation of the Credit Project facilities, the Recipient shall perform, or cause to be governed by performed, all obligations set forth herein, in the provisions of Project Agreement, and in Schedule 2 4 to this the CEF Grant Agreement, and such obligations shall have the same force and effect as if set forth herein. (a) The Borrower shall maintain Recipient shall: (i) maintain, or cause to be maintained records maintained, separate accounts for the Project; (ii) have such accounts and accounts adequate to reflect related financial statements audited annually, in accordance with appropriate auditing standards consistently maintained sound accounting practices applied by independent auditors whose qualifications, experience and terms of reference are acceptable to ADB; (iii) furnish to ADB, as soon as available but in any event not later than 6 months after the expenditures financed out end of each related fiscal year, certified copies of such audited accounts and financial statements and the report of the proceeds auditors relating thereto (including the auditors' opinion on the use of the CreditGrant proceeds and compliance with the financial covenants of this Grant Agreement as well as on the use of the procedures for statement of expenditures), all in the English language; and (iv) furnish to ADB such other information concerning such accounts and financial statements and the audit thereof as ADB shall from to time request. (b) The Borrower shall: (i) have Recipient shall enable ADB, upon ADB's request, to discuss the records and accounts referred to in paragraph (a) of this Section including those Recipient's financial statements for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable Project and its financial affairs related to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall Project from time to time reasonably requestwith the auditors appointed by the Recipient pursuant to Section 4.02(a) hereinabove, and shall authorize and require any representative of such auditors to participate in any such discussions requested by ADB, provided that any such discussion shall be conducted only in the presence of an authorized officer of the Recipient unless the Recipient shall otherwise agree. (c) For Section 4.03. The Recipient shall take all expenditures action which shall be necessary on its part to enable NEA to perform its obligations under the Project Agreement, and shall not take or permit any action which would interfere with respect to which withdrawals from the Credit Account were made on the basis performance of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraphsuch obligations. (a) The Recipient shall exercise its rights under the Subsidiary Grant Agreement in such a manner as to protect the interests of this Section, records the Recipient and accounts reflecting such expenditures;ADB and to accomplish the purposes of the Grant. (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) No rights or obligations under the Subsidiary Grant Agreement shall be assigned, amended, or waived without the prior concurrence of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawalsADB.

Particular Covenants. (a) The Borrower and the Association shall from time to time, at the request of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 to this Agreement. (b) Prior to each such exchange of views, the Borrower shall furnish to the Association for its review and comment a report on the progress achieved in carrying out the Program, in such detail as the Association shall reasonably request. Section 3.02. Except as the Association shall otherwise agree, procurement of the goods to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures expen- ditures financed out of the proceeds of the Credit. (b) The Borrower shall: (i) have the records and accounts referred to in paragraph para- graph (a) of this Section Section, including those for the Special Account for each fiscal year audited, in accordance with appropriate auditing principles consistently applied, applied by independent auditors acceptable to the Association; (ii) furnish to the Association as soon as available, but in any case not later than nine six months after the end of each such year, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iii) furnish to the Association such other information concerning said records and accounts and the audit thereof as the Association shall from time to time reasonably request. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association Associa- tion has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures proce- dures and internal controls involved in their preparationpre- paration, can be relied upon to support the related withdrawals.

Particular Covenants. (a) The Borrower and declares its support to Uttar Pradesh’s commitment to the Association shall from time to time, at the request objectives of either party, exchange views on the progress achieved in carrying out the Program and the actions specified in Schedule 3 and, to this end, without any limitation or restriction upon any of its other obligations under the Development Credit Agreement, shall cause Uttar Pradesh to perform in accordance with the provisions of the Project Agreement all the obligations of Uttar Pradesh therein set forth, shall take and cause to be taken all action, including the provision of funds, facilities, services and other resources, necessary or appropriate to enable Uttar Pradesh to perform such obligations, and shall not take or permit to be taken any action which would prevent or interfere with such performance. (b) Prior to each such The Borrower shall participate with the Association and Uttar Pradesh in the exchange of views, views referred to in Section 2.02(a) of the Borrower shall furnish to the Association for its review and comment a report Project Agreement on the progress achieved in carrying out the Program, the actions specified in such detail as the Association shall reasonably request. Section 3.02. Except as Schedule to the Association shall otherwise agreeProject Agreement, procurement the performance of Uttar Pradesh’s obligations under the goods Project Agreement and other matters relating to be financed out of the proceeds of the Credit shall be governed by the provisions of Schedule 2 to this Agreement. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with consistently maintained sound accounting practices the expenditures financed out of the proceeds purposes of the Credit. (c) Without limitation upon the provisions of paragraph (b) The of this Section, the Borrower shall inform the Association on any action taken after the disbursement of the Credit which would have the effect of materially reversing the objectives of the Program, or any action taken under the Program, including any action specified in the Schedule to the Project Agreement, and shall facilitate exchange of views to address the situation. Section 3.02. Upon the Association’s request, the Borrower shall: (ia) have the records and accounts referred to in paragraph (a) of this Section including those for the Special Deposit Account for each fiscal year audited, audited in accordance with appropriate auditing principles consistently applied, by independent auditors acceptable to the Association; (iib) furnish to the Association as soon as available, but in any case not later than nine four months after the end date of each the Association’s request for such yearaudit, a certified copy of the report of such audit by said auditors, of such scope and in such detail as the Association shall have reasonably requested; and (iiic) furnish to the Association such other information concerning said records and accounts the Deposit Account and the audit thereof as the Association shall from time to time have reasonably requestrequested. (c) For all expenditures with respect to which withdrawals from the Credit Account were made on the basis of statements of expenditure, the Borrower shall: (i) maintain or cause to be maintained, in accordance with paragraph (a) of this Section, records and accounts reflecting such expenditures; (ii) retain, until at least one year after the Association has received the audit report for the fiscal year in which the last withdrawal from the Credit Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing such expenditures; (iii) enable the Association’s representatives to examine such records; and (iv) ensure that such records and accounts are included in the annual audits referred to in paragraph (b) of this Section and that the report of such audit contains a separate opinion by said auditors as to whether the statements of expenditure submitted during such fiscal year, together with the procedures and internal controls involved in their preparation, can be relied upon to support the related withdrawals.