Use of Counterpart Funds Sample Clauses
The 'Use of Counterpart Funds' clause defines how funds generated or provided as a counterpart to a primary funding source must be managed and utilized within a project or agreement. Typically, this clause outlines the specific purposes for which counterpart funds can be spent, such as supporting project activities, covering operational costs, or fulfilling local contribution requirements. By clearly specifying the permitted uses and any restrictions, the clause ensures transparency and accountability in the handling of these funds, preventing misuse and aligning expenditures with the objectives of the agreement.
Use of Counterpart Funds. The Borrower shall ensure that the Counterpart Funds are used to finance the implementation of certain programs and activities consistent with the objectives of the Program.
Use of Counterpart Funds. The Borrower shall ensure that the Counterpart Funds are used to finance the local currency costs relating to the implementation of the Program and other activities consistent with the objectives of the Program and shall provide the necessary budget appropriations to finance the structural adjustment costs relating to the implementation of reforms under the Program.
Use of Counterpart Funds. The Beneficiary shall ensure that the Counterpart Funds are used to finance the implementation of certain programs and activities consistent with the objectives of the Program and provide the necessary budget appropriation to finance the costs relating to the implementation of reforms under the Program.
Use of Counterpart Funds. The Beneficiary shall ensure that the Counterpart Funds are used to finance the implementation of certain programs and activities consistent with the objectives of the Program.
Use of Counterpart Funds. The Recipient shall ensure that the local currency funds generated by the Grant will be used to finance the costs relating to the implementation of the Program and other activities consistent with the objectives of the Program and will provide the necessary budget appropriation to finance the costs relating to the implementation of reforms under the Program.
Use of Counterpart Funds. The Borrower shall ensure that the Counterpart Funds are applied to the targeted subsidies for poor and vulnerable households under Output 1 of the Program, namely subsidies under the Pakistan Bait-ul-Mal Program and the Benazir Income Support Program.
Use of Counterpart Funds. Throughout the implementation of the Program, the Borrower shall ensure that adequate allocations of the required counterpart funds are made, approved and released in a timely manner in order to ensure proper implementation of the Program.
Use of Counterpart Funds. The Borrower shall use the Counterpart Funds to meet Program expenditures and support the cost of adjustment linked to reform measures, including implementation of the redundancy program; payment of the Borrower's accrued share of pension liability subsequent to the passage of the Pension Act; retirement of the existing circular debt followed by retirement of STELCO debt with the State Trading Organization; and services related to tax introduction and capacity development.
Use of Counterpart Funds. 1. The Borrower shall ensure that the Counterpart Funds shall be used to finance the costs relating to the implementation of the Program and other activities consistent with the objectives of the Program, as more fully described under paragraph 1 of Schedule 1 to this Loan Agreement and the Policy Letter and shall, in particular, provide necessary budget appropriations to finance the structural adjustment costs relating to the implementation of the reforms under the Program.
2. The Borrower shall, during the Program period, cause the DOF and Implementing Agencies to prepare an annual work plan for the next year and shall ensure that during each year of the Program implementation, adequate budgetary allocation of required Counterpart Funds is made and such funds are released by the relevant authorities on a timely and regular basis to facilitate Program implementation.
Use of Counterpart Funds. The Recipient shall ensure that the Counterpart Funds shall be used for financing budgetary expenditures to sustain delivery of the core publicly funded programs and activities in support of the Program and shall, in particular, provide necessary budget appropriations to allow withdrawals from the Special Account in support of: