Power Sector Reform Agenda Semi-Annual Review Sample Clauses

Power Sector Reform Agenda Semi-Annual Review. The Government and MCC will jointly supervise, through specific milestones, progress on the implementation of the Government’s power sector reform agenda in the following areas: ESCOM finances; ESCOM operations; ESCOM corporate governance; tariff reform; MERA governance; and regulatory enabling environment for public and private sector participation (collectively, the “Power Sector Reform Agenda”). The Government and MCC have specified the milestones below, for which new capitalized terms are further defined in Annex III. Prior to entry into force of the Compact, the Parties will identify semi-annual benchmarks for each milestone. The parties will conduct a semi-annual review of progress on the Power Sector Reform Agenda. Corrective action, acceptable to MCC, as needed to ensure satisfactory progress, will be a condition of continued MCC Funding.
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