Basic HTML Version
934
ΕΠΙΣΗΜΗ ΕΦΗΜΕΡΙΔΑ ΤΗΣ IΟης ΑΥΓΟΥΣΤΟΥ
1984
(b)
VΝ'ί
thout limi tation to the generali ty of the foregoing, the Borrower
undertakes to insure
ΟΓ
cause to be insured the goods
Ιο
be imIJorted for the
Pro ject and to be fi nanced out of the prcceeds of the Loan against hazards
incident to the acquisition, transportation and delivery thereof to the pJace
of use
ΟΓ
installation, 3nd for such insurance, any indemnity shall be payable
ίπ
a freely convertible currency to repJace
ΟΓ
repair such goods.
Section
4.09.
Τhe
Borrower shall:
(a) maintain
ΟΓ
cause to be maintained by
CCB, CIv1IO
and DCD,
adequate records and procedures for, inter a1 ia, the follow ing purposes:
(ίί)
(ίν)
(v)
to identif
Υ
the goods and services fi nanced out of the proceeds
of the Loan;
to di sc10se the use thereof
ίπ
the Pro ject;
to moni tor the progress of the Project Oncluding the cost
and benefi ts
Ιο
b-e derived therefrom)j
to reflect,
ίπ
accordance with consistently maintained sound
accounting practices, the financia1 condition of each of CCB,
CMIO
and DCD, to the extent re1evant for the performance
of those parts of the Project allocated to each of CCB,
CMIO
and DCD; and
to reflect,
ίπ
accordance with consistently maintained sound
accounting practices, the operations of each of
CCB,
CIν1IO
and DCD and the maintenance and operation of facilities
completed under the Project.
(b) cause to be
establίshed
and maintained by each of CCB,
CMIO
and DCD separate accounts for the Part$ of the Project allocated to
CCB,
Cfv1IO
and DCD respectively, so as to adequately identify, monitor and reflect,
ίπ
accordance with consistently maintained sound accounting practices, the
expenditures financed by the Fund and the Borrower,
ίπ
the said Parts of the
Project allocated to each of them under the terms of this Agreement;
(c)
further cause
DΟΑ
to establish and maintain
ίπ
accordance with
consistently maintained sound accounting practices a Project Account adequate–
Jy reflecting the
όveraΙΙ
expenditures financed by the Fund and the Borrower,
as provided under the terms of this Agreement;
(d) have the accounts relating to the execution of the Project, including
the statements of expenditure' referred to
ίπ
Section
4.10
of this Agreement,
for each fi scal year 3udi ted, by the Audi tor General of the Borrower
ΟΓ
other
independent auditors acceptable to the Fund in accordance with appropriate
audi ting principles consist ently applied;
(e) cause the .PC to -furni sh
ίπ
the English language
Ιο
the F und as
soon as
availab~e
but
ίπ
any event not later than six months after. the end
of the said fiscal year, a certified copy of the report of such audit by said
auditors, of such scope and in such detai1 as the Fund shall have reasonably
requested, including, without prejudice to the generality of the foregoing,
a separate opinion by the said auditors
ίπ
respect of the expenditures and
records referred· to
ίπ
Section
4.09
of this Agreement stating that the proceeds
of the Loqn withdrawn from the Loan Account on the basis of statements
of expenditure have been used for the purposes 'for which they
w~re
providedj
and
(f) fumish
Ιο ~he
Fund such other information concerning such accounts
and financial statements and the audit thereof as the Fund may from time
Ιο
time reasonabJy request.
Section
4.10.
Το
the extent that any withdrawals of the proceeds
of the Loan . are made on the basis of statements of
eχpenditure,
the Borrower
shalJ ensure that, until one year · after the Closing Date, a11 records (purchase