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The TL/DTL and the Project Director shall submit to both Executive Authorities an annual report in English. The first annual report on the progress made in the execution of the Project and on the expenditure incurred by both Parties will cover the period from 01 March 2011 till 30 June 2012; subsequent annual reports will follow the Bangladesh Fiscal Year, i.e. cover the period from 1 July till 30 June the next year. Approval or rejection of expenditures made from the Netherlands contribution is entirely and solely at the discretion of the Netherlands Executive Authority. On termination of the Project, the TL/DTL and the Project Director shall submit to all parties involved a final report in English on all aspects of the work done in connection with the Project.

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