Subnational Entity definition
Subnational Entity means a Province, Municipality, or other political subdivision in the Borrower’s territory which is formally incorporated and legally recognized by the Borrower, each of which, in the opinion of the Bank, meet the eligibility criteria set forth in the Operations Manual to participate in Parts 1 or 2 of the Project, and for the purposes of the General Conditions, each, a Project Implementing Entity.
Examples of Subnational Entity in a sentence
Any transfers from the Borrower to a Subnational Entity in violation of this provision may be deemed an ineligible expenditure.
The Borrower shall refrain from transferring any funds out of the proceeds of the Loan to any Subnational Entity, until the Borrower, through MDTyH and the respective Subnational Entity have duly executed the respective Project Implementation Agreement in a manner and substance satisfactory to the Bank.