Common use of Counterpart Support Clause in Contracts

Counterpart Support. The Borrower shall make available adequate and timely budgetary allocations of the required counterpart funds in respect of the Project, including for (i) land acquisition and resettlement costs, and (ii) taxes and duties. The Borrower shall meet any financing shortfall to ensure that the Project is fully implemented. In addition to the foregoing, the Borrower shall ensure that the Project Executing Agency has sufficient funds to satisfy its liabilities arising from any Works, Goods and or Services contract.

Counterpart Support. The Borrower shall provide all counterpart funds, land and facilities required for timely and effective implementation of the Project, including, without limitation, (a) any funds required to meet additional costs arising from design changes, price escalation in construction costs and/or unforeseen circumstances; and (b) any funds and facilities to keep the PIU staffed and equipped in accordance with the provisions of the preceding paragraph. The Borrower shall make the resources thus required available adequate and timely budgetary allocations of the required counterpart funds in respect of the Project, including on an annual basis for (i) land acquisition and resettlement costs, and (ii) taxes and duties. The Borrower shall meet any financing shortfall to ensure that the Project is fully implemented. In addition to the foregoing, the Borrower shall ensure that the Project Executing Agency has sufficient funds to satisfy its liabilities arising from any Works, Goods and or Services contracteach fiscal year.