Terms and conditions for the Community Subprojects Sample Clauses

Terms and conditions for the Community Subprojects. (a) To facilitate the carrying out of the activities under Part 1.1 of the Project, the Recipient shall make part of the proceeds of the Financing allocated from time to time to Category (2) of the table set forth in Section IV.A.2 of this Schedule available to the Targeted Communes on a non- reimbursable basis under a contract between the PIU and Targeted Communes (“Subproject Agreement”) under terms and conditions approved by the Association, as further described in the Project Implementation Manual, which shall include, inter alia, the following: (i) The Recipient shall obtain rights adequate to protect its interests and those of the Association, including the right to: (1) suspend or terminate the right of the Targeted Commune to use the proceeds of the Financing or obtain a refund of all or any part of the amount of the Financing then withdrawn upon the Targeted Commune’s failure to perform any of its obligations under the respective Subproject Agreement; and (2) require each Targeted Commune to: (A) carry out the activities under its respective Subproject Agreement with due diligence and efficiency and in accordance with sound technical, economic, financial, managerial, environmental and social standards and practices satisfactory to the Association, including in accordance with: (AA) the provisions of the Anti-Corruption Guidelines applicable to recipients of loan proceeds other than the Recipient; and (BB) all measures required to be taken pursuant to the ESCP are taken prior to the commencement of works as required; (B) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the activities under respective Subproject Agreement and the achievement of its objectives; (C) (1) 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 activities of the respective Subproject Agreement; and (2) 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; (D) procure goods, works and services to be financ...
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