Common use of Subprojects Clause in Contracts

Subprojects. 1. The Recipient shall continue to cause BMPAD to enter into agreements, (the Sub-grant Agreements) satisfactory to the Association, for the preparation and implementation by Beneficiaries of the Subprojects, in accordance with eligibility criteria and procedures set forth in the Current Operational Manual which include the following; (a) the transfer of financial resources under the Sub-grant Agreement on a non reimbursable basis; (b) the carrying out of selected risk reduction activities in the context of the Current Emergency and the development of mitigation activities, including inter alia, rehabilitation of infrastructure, early warning systems, retention walls, terracing, drainage works, pilot reforestation projects and shelter retrofitting; (c) the securing of rights adequate to protect the interests of the Recipient and those of the Association, including the right to suspend or terminate the right of a Beneficiary to use the proceeds of a Sub-grant or obtain a refund of all or any part of it upon the Beneficiary’s failure to perform any of its obligations under the Sub-grant Agreement; (d) the requirement that each Beneficiary: (i) carry out the relevant Subproject with due diligence and efficiency and in accordance with sound technical, economic, financial, managerial, environmental and social standards and practices satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of financial proceeds other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Sub-grant in accordance with the provisions of this Agreement; (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject and the achievement of its objectives; (A) maintain a financial management system and prepare financial statements in accordance with consistently applied accounting standards acceptable to the Association, both in a manner adequate to reflect the operations, resources and expenditures related to the relevant Subproject; and (B) at the Association’s or the Recipient’s request, have such financial statements audited by independent auditors acceptable to the Association, in accordance with consistently applied auditing standards acceptable to the Association, and promptly furnish the statements as so audited to the Recipient and the Association; (vi) enable the Recipient and the Association to inspect the relevant Subproject, its operation and any relevant records and documents; and (vii) prepare and furnish to the Recipient and the Association all such information as the Recipient or the Association shall reasonably request relating to the foregoing.

Appears in 1 contract

Sources: Financing Agreement

Subprojects. 1. The Recipient Borrower shall continue make Grants to cause BMPAD to enter into agreementsBeneficiaries (Small Farmers, Municipalities and Organizations) for Subprojects (the Sub-grant AgreementsFarmers’ Business Initiatives, Infrastructure Subprojects and Environmental Subprojects) satisfactory to the Association, for the preparation and implementation by Beneficiaries of the Subprojects, in accordance with eligibility criteria and procedures acceptable to the Bank as further detailed in the Project Operational Manual. 2. The Borrower shall, through the Project Management Unit, enter into Grant Agreements appropriate for the carrying out Subprojects, such agreements to be made in accordance with terms of the respective draft set forth in model forms approved by the Current Operational Manual which include the following; (a) the transfer of financial resources under the Sub-grant Agreement on a non reimbursable basis; (b) the carrying out of selected risk reduction activities Bank and included in the context of Project Operational Manual, in which the Current Emergency and the development of mitigation activities, including inter alia, rehabilitation of infrastructure, early warning systems, retention walls, terracing, drainage works, pilot reforestation projects and shelter retrofitting; (c) the securing of Borrower shall obtain rights adequate to protect the its interests of the Recipient and those of the AssociationBank, including the right to to: (1) suspend or terminate the right of a Beneficiary to use the proceeds of a Sub-grant or obtain a refund of all or any part of it upon the Beneficiary’s failure to perform any of its obligations under the Sub-grant Agreement; (d) the requirement that each Beneficiary:Beneficiaries to (i) carry out the relevant Subproject with due diligence and efficiency and in accordance with sound technical, economic, financial, managerial, environmental and social standards and practices satisfactory to the Association, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of financial proceeds other than the Recipient; (ii) provide, promptly as needed, the resources required for the purpose; (iii) procure the goods, works and services to be financed out of the Sub-grant in accordance with the provisions of this Agreement; (iv) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the Association, the progress of the Subproject and the achievement of its objectives; (A) maintain a simplified financial management system and prepare financial statements records in accordance with consistently applied accounting standards acceptable to the AssociationBank for community driven initiatives, both in a manner adequate to reflect the operations, resources and expenditures related to the relevant SubprojectSubprojects; and (Bii) at the AssociationBank’s or the RecipientBorrower’s request, have such the resulting financial statements audited by independent auditors acceptable to the AssociationBank, in accordance with consistently applied auditing standards acceptable to the AssociationBank, and promptly furnish the statements as so audited to the Recipient Borrower and the Association; Bank; (vif) enable the Recipient Project Management Unit and the Association Bank to inspect the relevant SubprojectSubprojects, its their operation and any relevant records and documents; and and (viig) prepare and furnish to the Recipient Project Management Unit and the Association Bank all such information as the Recipient Borrower, the Project Management Unit or the Association Bank shall reasonably request relating to the foregoing. 3. The Borrower shall cause the Project Management Unit to exercise its rights under each Grant Agreement in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall ensure that the Project Management Unit not assign, amend, abrogate or waive any Grant Agreement or any of its provisions. 4. The Borrower shall furnish to the Bank for its prior review and approval the first two Farmers’ Business Initiatives, the first two Infrastructure Subprojects and the first two Environmental Subprojects.

Appears in 1 contract

Sources: Loan Agreement

Subprojects. 1. The Recipient Borrower shall continue make Grants to cause BMPAD to enter into agreements, (the Sub-grant Agreements) satisfactory to the Association, Beneficiaries for the preparation and implementation by Beneficiaries of the Subprojects, Subprojects in accordance with eligibility criteria and procedures set forth acceptable to the Bank as further detailed in the Current Project Operational Manual which include Manual, including approval procedures to be followed by the following;Microcatchment Development Committee. (a) the transfer of financial resources under the Sub-grant Agreement on a non reimbursable basis; (b) 2. The Borrower shall, through SEAPPA, enter into Grant Agreements appropriate for the carrying out of selected risk reduction activities Components 1 and 2 of the Project, such agreements to be made in accordance with terms of the respective draft set forth in model forms approved by the Bank and included in the context of Project Operational Manual, in which the Current Emergency and the development of mitigation activities, including inter alia, rehabilitation of infrastructure, early warning systems, retention walls, terracing, drainage works, pilot reforestation projects and shelter retrofitting; (c) the securing of Borrower shall obtain rights adequate to protect the its interests of the Recipient and those of the AssociationBank, including the right to to: (1) suspend or terminate the right of a Beneficiary Beneficiaries to use the proceeds of a Sub-grant the Grant, or obtain a refund of all or any part of it the amount of the Grant then withdrawn, upon the Beneficiary’s Beneficiaries’ failure to perform any of its obligations under the Sub-grant Grant Agreement; ; and (d2) the requirement that require each Beneficiary: Beneficiary to: (ia) carry out the relevant its Subproject with due diligence and efficiency and in accordance with sound technical, agricultural, economic, financial, managerial, environmental and social standards and practices satisfactory to the AssociationBank, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of financial Loan proceeds other than the Recipient; Borrower, the Project Operational Manual, the Environmental Management Framework and the Involuntary Resettlement Framework; (iib) provide, promptly as needed, the resources required for the purpose; ; (iiic) procure the goods, works and services to be financed out of the Sub-grant Grant in accordance with the provisions of this Agreement; ; (ivd) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the AssociationBank, the progress of the Subproject and the achievement of its objectives;; (e) (Ai) maintain a simplified financial management system and prepare financial statements records in accordance with consistently applied accounting standards acceptable to the AssociationBank for community driven initiatives, both in a manner adequate to reflect the operations, resources and expenditures related to the relevant Subproject; and (Bii) at the AssociationBank’s or the RecipientBorrower’s request, have such financial statements audited by independent auditors acceptable to the AssociationBank, in accordance with consistently applied auditing standards acceptable to the AssociationBank, and promptly furnish the statements as so audited to the Recipient Borrower and the Association; Bank; (vif) enable the Recipient Borrower and the Association Bank to inspect the relevant Subproject, its operation and any relevant records and documents; and and (viig) prepare and furnish to the Recipient Project Implementation Unit and the Association Bank all such information as the Recipient Borrower or the Association Bank shall reasonably request relating to the foregoing. 3. The Borrower shall cause SEAPPA to exercise its rights under each Grant Agreement in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall ensure that SEAPPA not assign, amend, abrogate or waive any Grant Agreement or any of its provisions.

Appears in 1 contract

Sources: Loan Agreement

Subprojects. 1. The Recipient Borrower shall continue make Grants to cause BMPAD to enter into agreementsBeneficiaries (Small Farmers, Municipalities and Organizations) for Subprojects (the Sub-grant AgreementsFarmers’ Business Initiatives, Infrastructure Subprojects and Environmental Subprojects) satisfactory to the Association, for the preparation and implementation by Beneficiaries of the Subprojects, in accordance with eligibility criteria and procedures acceptable to the Bank as further detailed in the Project Operational Manual. 2. The Borrower shall, through the Project Management Unit, enter into Grant Agreements appropriate for the carrying out Subprojects, such agreements to be made in accordance with terms of the respective draft set forth in model forms approved by the Current Operational Manual which include the following; (a) the transfer of financial resources under the Sub-grant Agreement on a non reimbursable basis; (b) the carrying out of selected risk reduction activities Bank and included in the context of Project Operational Manual, in which the Current Emergency and the development of mitigation activities, including inter alia, rehabilitation of infrastructure, early warning systems, retention walls, terracing, drainage works, pilot reforestation projects and shelter retrofitting; (c) the securing of Borrower shall obtain rights adequate to protect the its interests of the Recipient and those of the AssociationBank, including the right to to: (1) suspend or terminate the right of a Beneficiary Beneficiaries to use the proceeds of a Sub-grant the Grant, or obtain a refund of all or any part of it the amount of the Grant then withdrawn, upon the Beneficiary’s Beneficiaries’ failure to perform any of its obligations under the Sub-grant Grant Agreement; ; and (d2) the requirement that each Beneficiary: require Beneficiaries to: (ia) carry out the relevant Subproject their Subprojects with due diligence and efficiency and in accordance with sound technical, agricultural, economic, financial, managerial, environmental and social standards and practices satisfactory to the AssociationBank, including in accordance with the provisions of the Anti-Corruption Guidelines applicable to recipients of financial Loan proceeds other than the Recipient; Borrower, the Environmental Management Framework, the Involuntary Resettlement Framework and the Indigenous Peoples Planning Framework; (iib) provide, promptly as needed, the resources required for the purpose; ; (iiic) procure the goods, works and services to be financed out of the Sub-grant Grant in accordance with the provisions of this Agreement; ; (ivd) maintain policies and procedures adequate to enable it to monitor and evaluate in accordance with indicators acceptable to the AssociationBank, the progress of the Subproject Subprojects and the achievement of its their objectives;; (e) (Ai) maintain a simplified financial management system and prepare financial statements records in accordance with consistently applied accounting standards acceptable to the AssociationBank for community driven initiatives, both in a manner adequate to reflect the operations, resources and expenditures related to the relevant SubprojectSubprojects; and (Bii) at the AssociationBank’s or the RecipientBorrower’s request, have such the resulting financial statements audited by independent auditors acceptable to the AssociationBank, in accordance with consistently applied auditing standards acceptable to the AssociationBank, and promptly furnish the statements as so audited to the Recipient Borrower and the Association; Bank; (vif) enable the Recipient Project Management Unit and the Association Bank to inspect the relevant SubprojectSubprojects, its their operation and any relevant records and documents; and and (viig) prepare and furnish to the Recipient Project Management Unit and the Association Bank all such information as the Recipient Borrower, the Project Management Unit or the Association Bank shall reasonably request relating to the foregoing. 3. The Borrower shall cause the Project Management Unit to exercise its rights under each Grant Agreement in such manner as to protect the interests of the Borrower and the Bank and to accomplish the purposes of the Loan. Except as the Bank shall otherwise agree, the Borrower shall ensure that the Project Management Unit not assign, amend, abrogate or waive any Grant Agreement or any of its provisions. 4. The Borrower shall furnish to the Bank for its prior review and approval the first two Farmers’ Business Initiatives, the first two Infrastructure Subprojects and the first two Environmental Subprojects.

Appears in 1 contract

Sources: Loan Agreement