Counterpart Funding definition

Counterpart Funding means a total amount of approximately US$ 5,110,000 equivalent committed by the Recipient for the exclusive purpose of providing its own financing for activities under Parts 1.2 and 4 of the Project during the Project implementation period, which are part of the Annual Work Plan and Budget and consistent with the objective of the Project, as set forth in the POM and described in Section I.E of Schedule 1 to this Agreement.
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Counterpart Funding means the minimum amount of funds required for the Program to be provided by the Recipient through an allocation to the budget, in the total amount of USD165 million.
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Examples of Counterpart Funding in a sentence

  • Ensure that all Project activities financed by the Counterpart Funding are carried out in compliance with the requirements applicable to the Project, including the provisions of the ▇▇▇.

  • The Recipient shall ensure that Counterpart Funding shall be used only for the purposes of defraying the cost of expenditures incurred under Parts 1.2 and 4 of the Project, which are part of the Annual Work Plan and Budget and consistent with the objective of the Project.

  • At the request of the Borrower, the Bank has agreed that the procurement of all goods, works, non-consulting services, and consulting services, required for Part 1 of the Project and to be financed out of the proceeds of the Loan, the Financing, the Co-financing and the Counterpart Funding, be undertaken under the alternative procurement arrangements referred to in Paragraph 2.4(a) of the Procurement Regulations.

  • At least annually, provide the Bank with a report accompanied by supporting documentation on the status of the Counterpart Funding contributions required to be made under paragraph 1 above.