Common use of Risk Sharing Program Clause in Contracts

Risk Sharing Program. Strengthening the capacities of commercial banks to provide medium- and long- term financing to small and medium enterprises, through: (a) the provision by the Recipient of first-loss credit coverage on portfolios of small and medium enterprise and / or microfinance institution loans originated and held by Participating Banks through Risk Sharing Facilities to be established by the International Finance Corporation and such Participating Banks, pursuant to which the International Finance Corporation, as facility agent acting on behalf of both the Recipient and the International Finance Corporation, will provide risk coverage on a pari passu basis with each Participating Bank; and (b) the provision of technical advisory services and training to Participating Banks in relation to small and medium enterprise and / or microfinance institution lending. Part C: Stimulating Sector Investment and Implementing Sector Policy Reforms 1. Pension Reform Support to MOF and the MOT in: (a) carrying out technical and financial audits of the Recipient’s Fonds National de Retraite and Institution de Prévoyance Retraite du Sénégal pension plans respectively; (b) devising and carrying out ensuing strategy plans for ensuring viability and sustainability of the Recipient’s pension system, including, inter alia, investment and coverage issues and benefit payments strategy; and (c) carrying out studies, workshops and training to support the reforms and build capacity therefor for pension contributors and pension plan staff. 2. Development of Tourism Support to the MOTS for: (a) strengthening tourism inside the territory of the Recipient, including through the preparation of an environmentally, culturally and socially sustainable sector strategy and associated master plans; and (b) building relevant capacity in selected staff of MOTS. 3. Promotion of the Music Industry Support to the MOCC and Association of Musicians for: (a) the completion of the modernizing of the copyright legislation in the music industry, including the preparation and dissemination of the and decrees which complement such legislation; (b) carrying out training programs and advocacy work on the legal framework applicable to musical copyrighting for concerned artists, staff of relevant ministries; (c) carrying out of training programs for musical archive specialists, organizing the musical archives through electronic archiving systems such that music can be accessible virtually via the Internet, and developing and broadcasting musical radio programs; and (d) designing a strategy for establishing a private commercial venture ensuring Senegalese artists’ copyrighted musical content accessibility over the Internet. Part D: Supporting Project Implementation and Capacity Building therefor 1. Support to APIX Provision of support to project implementation team within APIX for the administration, procurement, financial management and monitoring and evaluation of the Project, including training in relation thereto.

Risk Sharing Program. Strengthening the capacities of commercial banks to provide medium- and long- long-term financing to small and medium enterprises, through: (a) : the provision by the Recipient of first-loss credit coverage on portfolios of small and medium enterprise and / or microfinance institution loans originated and held by Participating Banks through Risk Sharing Facilities to be established by the International Finance Corporation and such Participating Banks, pursuant to which the International Finance Corporation, as facility agent acting on behalf of both the Recipient and the International Finance Corporation, will provide risk coverage on a pari passu basis with each Participating Bank; and (b) and the provision of technical advisory services and training to Participating Banks in relation to small and medium enterprise and / or microfinance institution lending. Part C: Stimulating Sector Investment and Implementing Sector Policy Reforms 1. Pension Reform Support to MOF and the MOT in: (a) carrying out technical and financial audits of the Recipient’s Fonds National de Retraite and Institution de Prévoyance Retraite du Sénégal pension plans respectively; (b) devising and carrying out ensuing strategy plans for ensuring viability and sustainability of the Recipient’s pension system, including, inter alia, investment and coverage issues and benefit payments strategy; and (c) carrying out studies, workshops and training to support the reforms and build capacity therefor for pension contributors and pension plan staff. 2. Development of Tourism Support to the MOTS for: (a) strengthening tourism inside the territory of the Recipient, including through the preparation of an environmentally, culturally and socially sustainable sector strategy and associated master plans; and (b) building relevant capacity in selected staff of MOTS. 3. Promotion of the Music Industry Support to the MOCC and Association of Musicians for: (a) the completion of the modernizing of the copyright legislation in the music industry, including the preparation and dissemination of the and decrees which complement such legislation; (b) carrying out training programs and advocacy work on the legal framework applicable to musical copyrighting for concerned artists, staff of relevant ministries; (c) carrying out of training programs for musical archive specialists, organizing the musical archives through electronic archiving systems such that music can be accessible virtually via the Internet, and developing and broadcasting musical radio programs; and (d) designing a strategy for establishing a private commercial venture ensuring Senegalese artists’ copyrighted musical content accessibility over the Internet. Part D: Supporting Project Implementation and Capacity Building therefor 1. Support to APIX Provision of support to project implementation team within APIX for the administration, procurement, financial management and monitoring and evaluation of the Project, including training in relation thereto.