Subprojects and Grants. 1. Subprojects shall be selected in accordance with the procedures, guidelines, eligibility criteria and other provisions set forth in detail in the PIM and outlined hereunder. The SPAC shall submit summaries of all subprojects to the Association. Subprojects shall be implemented with due diligence and efficiency and in accordance with sound administrative, educational, financial, technical, environmental and social practices. 2. The Project Implementing Entity shall cause the SPAC to provide Grants to Beneficiaries in accordance with the eligibility criteria and the terms and conditions set forth in the PIM which shall include the following: (a) the SPAC shall obtain rights adequate to protect its interests and the interests of the Project Implementing Entity and those of the Recipient and the Association, including the right to suspend or terminate the right of the Beneficiary to use the proceeds of the Grant and obtain a refund of all or any part of the amount of the Grant then withdrawn, upon the Beneficiary’s failure to perform any of its obligations under the Grant Agreement; (b) the SPAC shall require each Beneficiary to: (i) carry out Subproject activities with due diligence and efficiency and in accordance with sound administrative, economic, financial, educational, technical, environmental and social standards and practices, satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of the proceeds of the Credit other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Grant in accordance with the provisions of this Agreement; and (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject activities and the achievement of its objectives; and (c) the SPAC shall require each Beneficiary to: (i) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources and expenditures related to the Subproject activities; (ii) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (iii) enable the Recipient and the Association to inspect the Subproject activities, its operation and any relevant records and documents; and (iv) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoing.
Appears in 2 contracts
Samples: Financing Agreement, Project Agreement
Subprojects and Grants. 1. The proceeds of the Credit allocated for purposes of Grants to finance Subprojects under Part A.1 of the Project shall be selected in accordance with the procedures, guidelines, eligibility criteria and other provisions set forth in detail in the PIM and outlined hereunder. The SPAC shall submit summaries of all subprojects subject to the Association. Subprojects shall be implemented with due diligence and efficiency and in accordance with sound administrative, educational, financial, technical, environmental and social practices.
2. The Project Implementing Entity shall cause the SPAC to provide Grants to Beneficiaries in accordance with the eligibility criteria and the following terms and conditions set forth in the PIM which shall include the followingconditions:
(a) the SPAC amount so transferred to FADC shall obtain rights adequate be used exclusively to protect its interests provide Grants for the benefit of Beneficiaries to finance the construction and the interests rehabilitation of the Project Implementing Entity basic social and those of the Recipient and the Association, including the right economic infrastructure needed to suspend or terminate the right of the Beneficiary to use the proceeds of the Grant and obtain a refund of all or any part of the amount of the Grant then withdrawn, upon the Beneficiary’s failure to perform any of its obligations under the Grant Agreementmaintain essential community services;
(b) the SPAC Subproject shall require each Beneficiary to: be for any of the types of activities referred to in Part A of the Project;
(ic) carry out no Subproject activities with due diligence and efficiency and shall be considered for financing under the Project except in accordance with criteria, and terms and conditions, set forth in the Procedures Manual;
(d) the Subproject shall be economically, financially, environmentally, socially, institutionally and technically sound administrative, economic, financial, educational, technical, environmental and social standards and practices, satisfactory to the Association, including in accordance with the standards specified in the Procedures Manual, the Environmental and Social Management Framework and the Resettlement Policy Framework;
(e) an analysis of the environmental impacts of the Subproject shall be undertaken in compliance with the provisions of the Anti-Corruption Guidelines applicable to recipients of Environmental and Social Management Framework and the proceeds of Resettlement Policy Framework, and, if applicable, an environmental impact assessment shall be carried out and any other environmental and social requirements, including mitigation, compensation, rehabilitation and resettlement measures, provided under the Credit other than Environmental and Social Management Framework and the Recipient; (ii) provideResettlement Policy Framework, promptly as neededshall be complied with, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Grant all in accordance with the provisions of this Agreement; and (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable a manner satisfactory to the Association, ;
(f) adequate arrangements shall be in place for the progress financing of maintenance and other incremental recurrent costs related to the Subproject activities and the achievement of its objectivesSubproject; and
(cg) the SPAC amount of each Grant shall require each Beneficiary to: (i) maintain be determined according to a financial management system and prepare financial statements in accordance with consistently applied accounting standards cost-sharing formula, which shall be acceptable to the AssociationAssociation and specified in the Procedures Manual; provided, both however, that: the proceeds of a Grant shall not be used to finance taxes or duties levied on or in a manner adequate to reflect the operations, resources and respect of any eligible expenditures related to the Subproject activities; (ii) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (iii) enable the Recipient and the Association to inspect the Subproject activities, its operation and any relevant records and documents; and (iv) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoingGrant; and the amount of each Grant shall not exceed seventy five million KMF (KMF 75,000,000).
2. Applications for Grants to finance Subprojects shall be prepared by the Beneficiaries based on priorities identified in the local and intercommunity development plans. Subprojects shall be appraised by the respective FADC Regional Executive Secretariat. Applications for Grants equal to or in excess of fifteen million KMF (KMF 15,000,000) shall be transmitted for final approval by the FADC Regional Executive Secretariat to the FADC National Executive Secretariat.
Appears in 1 contract
Samples: Project Agreement
Subprojects and Grants. 1. The proceeds of the Credit allocated for purposes of Grants to finance Subprojects under Part A.1 of the Project shall be subject to the following terms and conditions:
(a) the amount so transferred to FADC shall be used exclusively to provide Grants for the benefit of Beneficiaries to finance the construction and rehabilitation of basic social and economic infrastructure needed to maintain essential community services;
(b) the Subproject shall be for any of the types of activities referred to in Part A of the Project;
(c) no Subproject shall be considered for financing under the Project except in accordance with criteria, and terms and conditions, set forth in the Procedures Manual;
(d) the Subproject shall be economically, financially, environmentally, socially, institutionally and technically sound in accordance with the standards specified in the Procedures Manual, the Environmental and Social Management Framework and the Resettlement Policy Framework;
(e) an analysis of the environmental impacts of the Subproject shall be undertaken in compliance with the provisions of the Environmental and Social Management Framework and the Resettlement Policy Framework, and, if applicable, an environmental impact assessment shall be carried out and any other environmental and social requirements, including mitigation, compensation, rehabilitation and resettlement measures, provided under the Environmental and Social Management Framework and the Resettlement Policy Framework, shall be complied with, all in a manner satisfactory to the Association;
(f) adequate arrangements shall be in place for the financing of maintenance and other incremental recurrent costs related to the Subproject; and
(g) the amount of each Grant shall be determined according to a cost-sharing formula, which shall be acceptable to the Association and specified in the Procedures Manual; provided, however, that:
(i) the proceeds of a Grant shall not be used to finance taxes or duties levied on or in respect of any eligible expenditures relating to the Grant; and
(ii) the amount of each Grant shall not exceed seventy five million KMF (KMF 75,000,000).
2. Applications for Grants to finance Subprojects shall be prepared by the Beneficiaries based on priorities identified in the local and intercommunity development plans. Subprojects shall be selected appraised by the respective FADC Regional Executive Secretariat. Applications for Grants equal to or in excess of fifteen million KMF (KMF 15,000,000) shall be transmitted for final approval by the FADC Regional Executive Secretariat to the FADC National Executive Secretariat.
3. Where the respective FADC Regional Subproject Committee or the FADC National Executive Secretariat, as the case may be, approves an application for a Grant, FADC Regional Subproject Committee or the FADC National Executive Secretariat, as the case may be, refers such application to the relevant FADC Regional Executive Secretariat for financing.
4. Subprojects under Part A.1 of the Project shall be carried out pursuant to Financing Agreements, to be concluded between FADC and the Beneficiaries, under terms and conditions satisfactory to the Association, which, inter alia, shall include the following:
(a) financing to be on a grant basis;
(b) the obligation to carry out the Subproject in accordance with the proceduresProcedures Manual, guidelinesthe Environmental and Social Management Framework and the Resettlement Policy Framework, eligibility criteria and other provisions set forth in detail in the PIM and outlined hereunder. The SPAC shall submit summaries of all subprojects to the Association. Subprojects shall be implemented with due diligence and efficiency and in accordance with sound administrativeenvironmental, educational, financialsocial, technical, financial and managerial standards and to maintain adequate records to reflect, in accordance with sound accounting practices, the operations, resources and expenditures in respect of the Subproject;
(c) where applicable, the obligation to carry out, in a manner satisfactory to the Borrower and the Association, an environmental analysis and social practices.
2. The Project Implementing Entity shall cause the SPAC an environmental assessment, and to provide Grants to Beneficiaries adopt adequate environmental mitigation measures including resettlement and rehabilitation of displaced persons in accordance with the eligibility criteria provisions of the Environmental and Social Management Framework and the terms Resettlement Policy Framework;
(d) the requirement that: (i) the goods, works, and conditions services to be financed from the proceeds of the Grant shall be procured in accordance with the procedures set forth in Schedule 1 to this Agreement; and (ii) such goods, works and services shall be used exclusively in the PIM which shall include carrying out of the following:Subproject;
(ae) the SPAC shall obtain rights adequate right of FADC to protect its interests and the interests of the Project Implementing Entity and those of the Recipient and inspect, by itself, or jointly with the Association, including if the Association shall so request, the goods, works, sites and construction included in the Subproject, the operations thereof and any relevant records and documents;
(f) the right of FADC to obtain all information as the Borrower or the Association shall reasonably request regarding the administration, operations and financial conditions of the Subproject; and
(g) the right of FADC to suspend or terminate the right of the Beneficiary to use the proceeds of the Grant and obtain a refund of all or any part of for the amount of Subproject upon failure by the Grant then withdrawn, upon the Beneficiary’s failure Beneficiary to perform any of its obligations under the Grant its Financing Agreement;
(b) the SPAC shall require each Beneficiary to: (i) carry out Subproject activities with due diligence and efficiency and in accordance with sound administrative, economic, financial, educational, technical, environmental and social standards and practices, satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of the proceeds of the Credit other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Grant in accordance with the provisions of this Agreement; and (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject activities and the achievement of its objectives; and
(c) the SPAC shall require each Beneficiary to: (i) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources and expenditures related to the Subproject activities; (ii) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (iii) enable the Recipient and the Association to inspect the Subproject activities, its operation and any relevant records and documents; and (iv) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoing.
Appears in 1 contract
Samples: Project Agreement
Subprojects and Grants. 1. Subprojects shall be selected in accordance with the procedures, guidelines, eligibility criteria and other provisions set forth in detail in the PIM and outlined hereunder. The SPAC SCADO in a Participating State, through the NCO, shall submit summaries of all subprojects Subprojects to the Association, including data on any resettlement. Subprojects shall be implemented with due diligence and efficiency and in accordance with sound administrative, educationalagricultural, financial, technical, environmental and social practices.
2. The Project Implementing Entity Recipient shall cause the SPAC each Participating State to provide Grants to Beneficiaries through its SCADO in accordance with the eligibility criteria and the terms and conditions set forth in the PIM and in a Grant Agreement to be entered into between its SCADO and the Beneficiary, which shall include the following:
(a) the SPAC The SCADO shall obtain rights adequate to protect its interests and the interests of the Project Implementing Entity Participating State and those of the Recipient and the Association, including the right to suspend or terminate the right of the Beneficiary to use the proceeds of the Grant and obtain a refund of all or any part of the amount of the Grant then withdrawn, upon the Beneficiary’s failure to perform any of its obligations under the Grant Agreement;
(b) the SPAC The SCADO shall require each Beneficiary to: (i) carry out Subproject activities with due diligence and efficiency and in accordance with sound administrativeagricultural, technical, economic, financial, educational, technicalmanagerial, environmental and social standards and practices, practices satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of the proceeds of the Credit other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Grant in accordance with the provisions of this Agreement; and (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject activities and the achievement of its objectives; and
(c) the SPAC The Participating State shall require each Beneficiary to: (i) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources and expenditures related to the Subproject activities; (ii) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (iii) enable the Recipient and the Association to inspect the Subproject activities, its operation and any relevant records and documents; and (iv) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoing.
3. The Recipient shall cause each Participating State, acting through its SCADO, to exercise its rights under each Grant Agreement in such manner as to protect its interests and the interests of the Recipient and the Association and to accomplish the purposes of the Financing. Except as the Recipient and the Association shall otherwise agree, the Participating State shall not assign, amend, abrogate or waive any Grant Agreement or any of its provisions.
Appears in 1 contract
Samples: Financing Agreement
Subprojects and Grants. 1. Subprojects shall be selected in accordance with the procedures, guidelines, eligibility criteria and other provisions set forth in detail in the PIM and outlined hereunder. The SPAC SCADO in a Participating State, through the NCO, shall submit summaries of all subprojects Subprojects to the Association, including data on any resettlement. Subprojects shall be implemented with due diligence and efficiency and in accordance with sound administrative, educationalagricultural, financial, technical, environmental and social practices.
2. The Project Implementing Entity Recipient shall cause the SPAC each Participating State to provide Grants to Beneficiaries through its SCADO in accordance with the eligibility criteria and the terms and conditions set forth in the PIM and in a Grant Agreement to be entered into between its SCADO and the Beneficiary, which shall include the following:
(a) the SPAC The SCADO shall obtain rights adequate to protect its interests and the interests of the Project Implementing Entity Participating State and those of the Recipient and the Association, including the right to suspend or terminate the right of the Beneficiary to use the proceeds of the Grant and obtain a refund of all or any part of the amount of the Grant then withdrawn, upon the Beneficiary’s failure to perform any of its obligations under the Grant Agreement;
(b) the SPAC The SCADO shall require each Beneficiary to: (i) carry out Subproject activities with due diligence and efficiency and in accordance with sound administrativeagricultural, technical, economic, financial, educational, technicalmanagerial, environmental and social standards and practices, practices satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of the proceeds of the Credit other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Grant in accordance with the provisions of this Agreement; and (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject activities and the achievement of its objectives; and
(c) the SPAC The Participating State shall require each Beneficiary to: (i) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources and expenditures related to the Subproject activities; (ii) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (iii) enable the Recipient and the Association to inspect the Subproject activities, its operation and any relevant records and documents; and (iv) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoing.and
Appears in 1 contract
Samples: Financing Agreement