Common use of PROJECT IMPLEMENTATION Clause in Contracts

PROJECT IMPLEMENTATION. The Borrower shall implement the Project in accordance with the Agreement. The Borrower designates Ministry of Education, Science and Technological Development (MoE) as the Project Implementing Entity (PIE) and the Public Investment Management Office (PIMO) is the Project Implementing Unit (PIU). PIMO is entrusted with specific implementation tasks, including but not limited to procurement, management of consultants, financial management (accounting and payments), reporting, evaluation, monitoring and control. The Project coordination interlocutor from PIMO shall be the Project Coordinator, who shall coordinate Project activities among all Serbia’s stakeholders, and report to CEB. The Borrower shall ensure that the PIU appointed by the PIE is appropriately staffed and equipped throughout the Project implementation period, to the satisfaction of CEB. In any event, the Borrower remains solely liable to comply with its obligations under the Agreement. Failure to comply with the undertakings set forth hereby under Clause 5 would constitute, irrespective of any other applicable provision of the Loan Regulations, an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to (i) the relevant Sub-project expenditure declared ineligible for Allocation under the Project; and/or (ii) the early reimbursement, suspension or cancellation of the Loan, in whole or in part, under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations.

PROJECT IMPLEMENTATION. The Borrower shall implement the Project in accordance with the Agreement. The Borrower designates Ministry of Education, Science and Technological Development (MoE) as the Project Implementing Entity (PIE) and the Public Investment Management Office (PIMO) is the Project Implementing Unit (PIU). PIMO is entrusted with specific implementation tasks, including but not limited to procurement, management of consultants, financial management (accounting and payments), reporting, evaluation, monitoring and control. The Project coordination interlocutor from PIMO shall be the Project Coordinator, who shall coordinate Project activities among all Serbia’s stakeholders, and report to CEB. The Borrower shall ensure that the PIU appointed by the PIE is appropriately staffed and equipped throughout the Project implementation period, to the satisfaction of CEB. In any event, the Borrower remains solely liable to comply with its obligations under the Agreement. Failure to comply with the undertakings set forth hereby under Clause 5 would constitute, irrespective of any other applicable provision of the Loan Regulations, an event in the terms of Article 3.3 (h) of the Loan Regulations and may give rise to (i) the relevant Sub-project Sub‑project expenditure declared ineligible for Allocation under the Project; and/or (ii) the early reimbursement, suspension or cancellation of the Loan, in whole or in part, under the terms of Articles 3.3 (Early reimbursement of disbursed loans), 3.5 (Suspension by the Bank of undisbursed loans) and 3.6 (Cancellation by the Bank of undisbursed loans) of the Loan Regulations.