Terms and Conditions of Matching Grants. (a) Matching Grant activities shall be carried out pursuant to a Matching Grant Agreement, to be concluded between APIX, representing the Recipient, and the Beneficiary, under terms and conditions described in more detail in the PIM and satisfactory to the Association, which shall include, inter alia, the following:
(i) the obligation of the Beneficiary to: (A) carry out the Matching Grant activities with due diligence and efficiency and in accordance with sound technical, business, financial, managerial and administrative practices, including the Safeguards Instruments and the Anti-Corruption Guidelines applicable to recipients of loan proceeds other than the Recipient; and (B) maintain adequate records to reflect, in accordance with sound accounting practices, the resources and expenditures used in carrying out the Matching Grant activities;
(ii) the requirement that the consultants’ services to be financed from the proceeds of the Matching Grant be procured in accordance with the relevant provisions of Section III of Schedule 2 to this Agreement, and be used exclusively in the carrying out of the Matching Grant activities;
(iii) the right of the Recipient to: (A) inspect by itself, or jointly with the Association, if the Association shall so request, the activities financed by the Matching Grants; (B) obtain all information as the Recipient or the Association shall reasonably request regarding the administration, operation and financial conditions of the Matching Grant activities; and (C) suspend or terminate the right of any Beneficiary to use the proceeds of the Matching Grant or to obtain a refund of all or any part of the amount of the Sub-grant then withdrawn, upon failure by the Beneficiary to perform any of its obligations under the Matching Grant Agreement; and
(iv) The Recipient shall exercise its rights under the Matching Grant Agreement in such manner as to protect its interests and the interests of the Association and accomplish the purposes of the Project, and, except as the Association shall otherwise agree, the Beneficiary shall not assign, amend, abrogate or waive the Matching Grant Agreement or any provision thereof.
Terms and Conditions of Matching Grants. A Subproject shall be carried out pursuant to a Matching Grant Agreement, to be concluded between the Fund Manager, on behalf of the Recipient, and the respective Beneficiary, prior to commencement of any activity under such Subproject, all under terms and conditions described or referred to in more detail in the Matching Grants Manual and satisfactory to the Association, which, shall include the following:
(a) the description of the activities to be implemented, including the outputs and performance targets to be achieved, and the arrangements for monitoring, evaluating and reporting on the implementation of the Subproject;
(b) the obligation of the respective Beneficiary to contribute, in cash or in-kind a minimum percentage of the projected Subproject cost as specified in the Matching Grants Manual;
(c) the modalities of transfer of funds by the Fund Manager to the respective Beneficiary for the financing of the Subproject;
(d) the obligation of the respective Beneficiary to: (i) carry out the Subproject with due diligence and efficiency and in accordance with sound technical, agricultural, environmental, social, financial, and managerial practices, and in accordance with the provisions of the Anti-corruption Guidelines and the pertinent provisions of this Agreement; and (ii) maintain adequate records to reflect, in accordance with sound accounting practices, the operations, resources and expenditures relating to the Subproject;
Terms and Conditions of Matching Grants. (a) A Micro-project shall be carried out pursuant to a Matching Grant Agreement, to be concluded between the respective RCU or Local Government, as the case may be, on behalf of the Recipient, and the Beneficiary, under terms and conditions described in more detail in the PIM and the EMP and satisfactory to the Association, which, inter alia, shall include the following: the obligation of the Beneficiary to contribute, in cash or in-kind, at least 10% of the projected Micro-project costs, and at least 5% of the projected costs for CBIEM-related Micro-projects; the obligation of the Beneficiary to: (A) carry out the Micro-project with due diligence and efficiency and in accordance with sound environmental, engineering, financial, and managerial practices; and (B) maintain adequate records to reflect, in accordance with sound accounting practices, the operations, resources and expenditures relating to the Micro-project; the requirement that the goods, works and consultants’ services to be financed from the proceeds of the Matching Grant shall be procured in accordance with procedures ensuring efficiency and economy and in accordance with the provisions of Schedule 3 to this Agreement, and shall be used exclusively in the carrying out of the Micro-project; the right of the RCU or the Local Government, on behalf of the Recipient, and of the Recipient in its own right, to: (i) inspect by itself, or jointly with the Association, if the Association shall so request, the goods, works, sites, plants and construction included in the Micro-project, the operations thereof and any relevant records and documents; (ii) obtain all information as it, or the Association, shall reasonably request regarding the administration, operation and financial conditions of Micro-projects; and (iii) suspend or terminate the right of any Beneficiary to use the proceeds of the Matching Grant upon failure by the Beneficiary to perform any of its obligations under the Matching Grant Agreement.
(b) The RCU, the Local Government or the Recipient, as the case may be, shall exercise its rights under the Matching Grant Agreement in such manner as to protect its interests and the interests of the Association and to accomplish the purposes of the Project, and, except as the Association shall otherwise agree, the Recipient shall not assign, amend, abrogate or waive the Matching Grant Agreement or any substantial provision thereof.
