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The Disbursement Agreement of April 28 2006, made between the Millennium Challenge Corporation (MCC) and Ministry of Finance and Economic Management on behalf of MCA-Vanuatu, mandates that prior to disbursement or redisbursement of MCC funds, MCA-Vanuatu must satisfy or cause to satisfy conditions as set forth in the Disbursement Agreement. Examples of conditions precedent to receiving further funding assistance include, but not limited to, the following:
- Maintaining MCA-Vanuatu staff complement
- Establishing and enforcement of supplementary agreement
- Establishing and enforcement of Implementing Entity Agreements with key Government of Vanuatu authorities
- Environmental permits
- Environment Management Plans for each sub-project
- Resettlement Action Plans for each sub-project
Failure to satisfy Conditions Precedent would oblige MCC to reduce the amount of disbursement requested by MCA-Vanuatu until the condition has been satisfied through a request of deferral.
The Procurement Agent is responsible, on behalf of MCA-Vanuatu, among other things, for managing the procurement processes, ensuring that all procurement-related approvals required under the Compact are obtained and managing post-award contract administration issues. MCA-Vanuatu has appointed an international consulting firm to undertake the responsibilities of the Procurement Agent.
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