Disbursement Arrangements. The table in Schedule 1 sets out the disbursement methods which may be used by the Borrower, information on registration of authorized signatures, processing of withdrawal applications (including minimum value of applications and processing of advances), instructions on supporting documentation, and frequency of reporting on the Designated Account.
Disbursement Arrangements. (a) Start-up Advance. Withdrawals in respect of expenditures for start-up costs incurred before the satisfaction of the general conditions precedent to withdrawal shall not exceed an aggregate amount of EUR 280,000 for expenditure in categories II and IV. Activities to be financed by start-up costs will require the no objection from IFAD to be considered eligible. Schedule 3
Disbursement Arrangements. 19. The Loan and Xxxxx proceeds will be disbursed in accordance with ADB’s Loan Disbursement Handbook (2015, as amended from time to time), and the detailed arrangements agreed upon between the government and ADB as set out in the FAM. DOW will maintain separate bank accounts for each tranche. ADB Financing Agreements PNG PARD DTR DOW XXXX PNRM PMO ADVISORS/ CONSULTANTS ADB TRANSPORT TEAM SUPERVISION CONSULTANTS WORKS CONTRACTORS DOW-PMO TEAM Figure 1: Organization Structure for Project Management Figure 2: Indicative Implementation Schedule 2017 2018 2019 2020 2021 2022 0000 0000 0000 2026 2027 Program Activities 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
Disbursement Arrangements. (a) The Disbursement Arrangements will be set forth in detail in the Letter to the Borrower.
Disbursement Arrangements. Start-up Costs. Withdrawals in respect of expenditures for start-up costs (in Categories: (i) Goods, Services & Inputs; (ii) Consultancies, Training & Workshops and (iii) Recurrent Costs) incurred before the satisfaction of the general conditions precedent to withdrawal shall not exceed an aggregate amount of four hundred thousand United States Dollars (US$ 400 000). Activities to be financed by Start-up Costs will require the no objection from IFAD to be considered eligible. Schedule 3
Disbursement Arrangements. In order to increase the quality of operations and ensure good business practices, the financial management will be separated from other functions of the National Focal Point. Management of all operations related to financial transactions will be assigned to the State Treasury Department of the Ministry of Finance. The responsibility of the State Treasury Department of the Ministry of Finance is to: • manage the accounts on which grants from the EEA Financial Mechanism are kept; • check the applications for payment prepared by the CPMA; • ensure that payments are made to beneficiaries as quickly as possible; • store all relevant documents relating to projects implemented within the EEA Financial Mechanism for 10 years after the completion of projects. The CPMA will be responsible for checking and certification of the payment claims to the FMO.
Disbursement Arrangements. (a) Co-financing arrangement. The Project will be managed under a co-financing arrangement with ADB as the Cooperating Institution (CI) whereby all Project activities will be jointly financed, and funds will be disbursed in agreed proportions which can be revised from time to time with ADB on a pari-passu basis through an agreement between ADB and IFAD.
Disbursement Arrangements. (a) Co-financing arrangement. The Project will be managed under a co-financing arrangement with the World Bank (WB) as the Cooperating Institution (CI) whereby all project activities will be jointly financed, and funds will be disbursed in agreed proportions which can be revised from time to time with IBRD on a pari-passu basis through an agreement between IBRD/XXX (collectively referred to as “the World Bank”) and IFAD.
Disbursement Arrangements. In order to increase the quality of operations and ensure good business practices, the financial management will be separated from other functions of the National Focal Point. Management of all operations related to financial transactions will be assigned to the State Treasury Department of the Ministry of Finance. The responsibility of the State Treasury Department of the Ministry of Finance is to: • manage the accounts on which grants from the Norwegian Financial Mechanism are kept; • check the applications for payment prepared by the CPMA; • ensure that payments are made to beneficiaries as quickly as possible; • store all relevant documents relating to projects implemented within the Norwegian Financial Mechanism for 10 years after the completion of projects. The CPMA will be responsible for checking and certification of the payment claims to the FMO.
Disbursement Arrangements. 7. The ADB loan will be disbursed in accordance with ADB's Loan Disbursement Handbook (2007, as amended from time to time). Since most payments will be made for large contracts, direct payment, reimbursements, and commitment procedures will be used. The Government will be reimbursed, according to ADB's reimbursement procedure, for any eligible expenditure it initially funds. To facilitate disbursements, MOR will set up an imprest account4 at a bank acceptable to ADB after the loan becomes effective. The initial amounts to be deposited in the imprest account shall not exceed the estimated expenditures, to be financed from imprest accounts for the next 6 months of implementation or 10% of the loan amount, whichever is lower. To expedite funds flow and simplify documentation, the statement-of-expenditure procedure may be used in liquidating and replenishing the imprest account and reimbursing eligible expenditures of not more than $200,000 per payment. Payments over the statement-of- expenditure ceiling will be reimbursed, liquidated, or replenished on the basis of full supporting documentation. The financial assessment questionnaire indicates that the IP will have an adequate financial management system in place. Funds from the ADB loan will flow directly to MOR, the Executing Agency, which will be responsible for disbursements for the contract packages financed by ADB.
