Partner Entities Sample Clauses
Partner Entities. 21. Each Partner Entity will be responsible for the use of funds transferred by the Trustee and Activities carried out therewith in accordance with: (a) its own policies, guidelines, and procedures, including its framework to combat fraud and corruption; and (b) the applicable decisions of the Steering Committee, including the purpose for which the allocations of the funds have been approved as set out in the Transfer Agreement.
22. For transfers to Partner Entities, including the World Bank, categories of expenditure will be determined by the policies and procedures of the Partner Entity, and with the approval and instruction of the Steering Committee, and may include costs for Project and/or Program preparation and supervision.
Partner Entities. Once the Trustee transfers payments to the Partner Entities, the Partner Entities will provide operational services for the relevant projects:
(a) The selection of a GRIF Partner Entity for a project or activity will be mutually agreed between Guyana and the Partner Entity and approved by the Steering Committee.
(b) For all investments for which they provide operational services, each Partner Entity will be responsible for the use of funds transferred to it by the Trustee and be required to ensure:
(i) consistency with the LCDS and the applicable decisions of the Steering Committee, including the purpose for which the funding has been provided;
(ii) consistency with the Partner Entity’s fiduciary, safeguards, and operational policies and procedures; and
(iii) that a robust results framework, as defined by Guyana and the Partner Entity, is developed and agreed upon at the project level.
(c) Each GRIF Partner Entity will be responsible for the supervision of a given project’s adherence to the criteria set out in paragraph 3(b) hereto. This supervision will be in accordance with the Partner Entity’s own fiduciary, safeguards, and operational policies and procedures.
(d) Each GRIF Partner Entity will report to the Steering Committee on implementation progress for projects under its responsibility.
Partner Entities. Each Partner Entity will be responsible for the use of funds transferred by the Trustee and Activities carried out therewith in accordance with: (a) its own policies, guidelines, and procedures, including its framework to combat fraud and corruption; and (b) the applicable decisions of the Steering Committee, including the purpose for which the allocations of the funds have been approved as set out in the Transfer Agreement.