Banking and Program Revenue PDF Print E-mail

 

Banking and Program Revenue

Article 11 of the
Grant Agreement specifies that the PR shall ensure:

i. That funds held by PRs and SRs remain in a bank account bearing reasonable interest until required for program purposes

ii. That funds are deposited only in banks that are fully compliant with all local and international banking standards and regulations

iii. That funds are held in cash at all times

iv. Interest on funds shall be accounted for and expended only for program purposes

v. Revenue from project activities shall be accounted for and used solely for program purposes.

Last Updated on Thursday, 16 April 2009 15:23
 

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