Incentive Matching Fund for Periodic Road Maintenance Sample Clauses

Incentive Matching Fund for Periodic Road Maintenance. The Incentive Matching Fund for Periodic Road Maintenance (“IMFP”) Project Activity is designed to set the Government on a path toward long-term, sustainable funding of periodic maintenance on the full road network in Burkina Faso. MCC Funding will be used to finance periodic road maintenance works through an incentive matching fund that will match annual increases in the Government’s dedicated funding for periodic maintenance, subject to measurable indicators of performance on maintenance planning, capacity, and implementation. MCC and the Government envision that the IMFP will be administered by the Road Maintenance Fund of Burkina (Fonds d’Entretien Routier du Burkina – FER-B), an institution established by the Government in cooperation with the World Bank (the “Road Fund”). MCC Funding of the IMFP is subject to the fulfillment of the following conditions, as such conditions are further specified in the Program Implementation Agreement: (i) the preparation and delivery by the Government of a five-year road maintenance plan that will be updated annually; (ii) the presentation by the Government of evidence, satisfactory to MCC, that Direction Générale des Routes (“DGR”) and Direction Générale des Pistes Rurales (“DGPR”) have improved procurement, contract management and implementation oversight capacities; (iii) the presentation by the Government of evidence, satisfactory to MCC, that the Road Fund has adopted appropriate financial controls (including cash management and accounting controls) and operational systems (including with respect to contract management), and such mechanisms are formalized, implemented and verified pursuant to technical and financial audits conducted in accordance with the by-laws (Cahier de Charges) of the Road Fund approved by MCC; and (iv) the establishment of the relative contributions of the Government and MCC to the IMFP, as agreed upon between MCC and the Government, and the provision by the Government of evidence of financing sufficient to meet the Government’s share of such contributions. In connection with this sub-section (d), the Parties shall use their best efforts to consult with other donors where appropriate.
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