Art. III Overeenkomst inzake het fonds voor de bestrijding van rivierblindheid (onchocerciasis) 1992 — Contributions to the Phase IV Fund; Disbursements from the Phase IV Fund; Annual Report

The Contributing Parties undertake, subject to the conditions set forth in this Agreement, to assist in financing the cost of the fourth phase of the Programme. The following contributions have been announced: The Kingdom of Belgium undertakes to support the fourth phase of the Programme. Its contribution will be denned annually on the basis of availability of budget funds and on the evolution of the Programme. The French Republic has indicated that it is in a position to make a total contribution to the Phase IV Fund of forty-five million French francs (FF 45,000,000) distributed over the six years of the fourth phase of the Programme, subject to approval by the Management Committee of the Fonds d'Aide et de Cooperation. The Federal Republic of Germany shall contribute to the Phase IV Fund two million Deutsche marks (DM 2,000,000) for 1992. Similar orders of magnitude of annual contributions will be considered for the subsequent years of Phase IV. The Government of the Italian Republic shall take under consideration the possibility of continuing with its support to Phase IV of the Programme. Subject to legislative approval and other action, Japan will contribute two million United States Dollars (US$ 2,000,000) to the Phase IV Fund for 1992 and intends further to continue its cooperation with the Programme for the period 1993-1997. The State of Kuwait has undertaken to make a contribution to the Phase IV Fund in the amount of one million five hundred thousand United States Dollars (US$ 1,500,000) over the period 1992 to 1997. The Grand Duchy of Luxembourg, subject to governmental and annual parliamentary approval, shall contribute fifty-one million Luxembourg francs (LuxF 51,000,000) to the financing of the fourth phase of the programme, in the form of six equal annual installments. The Kingdom of the Netherlands has undertaken, subject to parliamentary approval, to make a total contribution to the Phase IV Fund in the amount of twenty-seven million Dutch guilders (ƒ 27,000,000) to meet the cost of expenditures for the carrying out of the fourth phase of the Programme. Portugal shall contribute to the Phase IV Fund an annual amount of fifty thousand United States dollars (US$ 50,000), subject to parliamentary approval. The Government of the Kingdom of Saudi Arabia shall extend a grant of fourteen million United States dollars (US$ 14,000,000) for the fourth phase of the Programme. The disbursement of the fourth phase grant will commence from 1992 in six equal yearly installments of two and one-third million United States dollars (US$ 2,333,333) each. The Swiss Confederation shall contribute to the Phase IV Fund eighteen million Swiss francs (SwF 18,000,000) in six annual installments of three million Swiss francs (SwF 3,000,000) each. This schedule may be modified by mutual agreement between the Bank and the Swiss Confederation as necessary to meet the actual disbursement needs of the Programme. The United Kingdom of Great Britain and Northern Ireland shall contribute nine hundred and fifty thousand pounds sterling (£ 950,000) to the Phase IV Fund for 1992. Subject to administrative approval and the availability of funds, the Government of the United States of America intends to contribute to the Phase IV Fund twenty-one million United States dollars (US$ 21,000,000) over the period 1992-1997. Depending upon fund availability, contributions will be made in equal annual installments over the period. The African Development Bank shall contribute three hundred thousand (300,000) Units of Account per annum to the Phase IV Fund, subject to approval by its Board of Directors. The European Economic Communities, represented by the Commission in its capacity of management of the European Development Fund, envisage to continue their support to the Phase IV Fund at the same level as the Phase III Fund (ECU 7,000,000) under the Regional Funds scheme. However, this commitment is subject to the procedures of the Lome IV Convention, including the request of the African Participating Countries and the final decisions to be taken by the competent Community bodies. Nonetheless, the Commission is confident that both the African Participating Countries and the 12 Members States will share our favorable opinion of the Programme. The OPEC Fund has approved the allocation of three hundred thousand United States dollars (US$ 300,000) to support the fourth phase of the Programme. The funds are designated to be allocated over a six-year period (1992-1997) in six equal installments. Under its Fifth Regional Programme for Africa (1992-1996) UNDP shall contribute seven million five hundred thousand United States dollars (US$ 7,500,000) to the Phase IV Fund through 1996. UNDP will consider maintaining its contribution at the same annual level for 1997 under the Sixth Regional Programme for Africa. In addition to the contribution which it makes to the Programme by providing administrative and financial services as Executing Agency, WHO intends to contribute to the Phase IV Fund, subject to the availability of funds, a total of one million five hundred thousand United States dollars (US$ 1,500,000), in six equal annual installments. In light of progress achieved in meeting agreed programme objectives and in meeting complementary funding targets, and subject to the approval of the Executive Directors of the Bank and/or the Association through the Bank's Annual Budget and Planning Process, the President of the Bank and the Association has undertaken that the Bank and/or the Association shall contribute to the Phase IV Fund about fifteen million eight hundred thousand United States dollars (US$ 15,800,000) which is expected to take the form of six equal installments of two million six hundred thirty thousand United States dollars (US$ 2,630,000) each. At the time of the annual meeting of the JPC or promptly thereafter, an understanding shall be reached between the Bank and each Contributing Party on the amount, if any, expected to be contributed by it during the following year and on the time or times at which payment should be made, such understanding to be subject, as necessary, to the approval of the appropriate legislative authorities. The Bank may include in its estimates of the amounts required to be paid in any year pursuant to this Section such sums as it shall consider necessary or desirable to establish and maintain a reasonable reserve against an excess of actual expenditures over the estimates of such expenditures. The Contributing Parties agree to accept the Bank's decisions as to the estimated requirements of the Phase IV Fund, and of the reserve required, for the purposes of this Agreement. The Bank shall, with respect to each calendar year in which monies of the Phase IV Fund remain undisbursed, prepare a statement of contributions to, receipts of, and disbursements from, the Phase IV Fund and cause such statement to be audited by the Bank's external auditors. The Bank shall thereafter send to each of the Contributing Parties a copy of the report of such auditors. The cost of such a statement and report thereon shall be charged by the Bank to the Phase IV Fund as an operating expense. The Bank shall waive all other operating expenses of administering the Phase IV Fund. The Bank shall pay to, or on the order of, WHO out of the monies of the Phase IV Fund amounts for payment to be made by WHO for the Programme in accordance with the provisions of this Agreement. When WHO shall desire to withdraw any amount from the Phase IV Fund, WHO shall deliver to the Bank a written application therefor. Except as the Bank and WHO shall otherwise agree, any such application shall be submitted on a quarterly basis on account of estimated payments to be made during the following quarter.

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