OFFICIAL DOCUMENTS CREDIT NUMBER 6707-KM GRANT NUMBER D)676-KM Project Agreement (Financial Inclusion Project) between INTERNATIONAL DEVELOPMENT ASSOCIATION and CENTRAL BANK OF THE COMOROS -2- PROJECT AGREEMENT AGREEMENT between INTERNATIONAL DEVELOPMENT ASSOCIATION ("Asociation') aid BCC ("Project Implementing Entity") ("Toject Agreeinent") in connection with the Financing Agreement ("Financing Agreement") of the Signature bate between the UNION OF CQMQROS ("Recipient) and the Association, conceming Credit No. 6707-KM and Grant No. D676-KM The Association and the Project Impleneting.Entity hereby agree as. follows: ARTICLE I-GENERAL CONDITIONS; DEFINITIONS 1.L The General Conditions (as defined in the Appendix to the Financing Agreement) apply to and form part of this Agreement. 1.02. UMloss the coitext requires otherwise, the capitalized terts used in this Agreennt have the neanings Ascribed to them in the Financing Agreenent or the General Conditions. ARTICLE II - PROJECT 2.01, The Project hnplementing Entity declares its commitment to the objectives of the Project. To this end, the Project Implementing Entity shall. carry out the Project -i accordance iwith the provisions of Artice V -of the General Conditions and the Schedule to this Agreement, and shall provide promptly as needed, the funds, facilities, services and other resources required for the. Project. ARTICLE III - TERMINATION .3.0.1. For purposes of'Section 10.05 (c) ofthe General Conditions, the.date on which the provisions of fhis Agreement shall-terminate is tWenty (20) ears afier the Signature Date. ARTICLE IV - REPRESENTATIVE, ADDRESSES 4.01,. The Proj Oct Implementing Enitity's Representalive is. its Governor. 4.02. For-purposes of Section 101 of the General Conditions (a) the Associaton's. address is:, International Development Association 1818 H Street,_NW Washington, DC 2043.3 United.:States of America; and (b) the Association's Electroni&-Address is: Telex: Facsimile: 24842(MC1) or 1-202-477-6391 4.03. For putposes of Section 11.0.1 of the General Conditions: (a) ihe Project Implemnting Etity's address. ist Uanque Centrale des Comores. Place de Frat:c, BP 405 Moroni, COMOROS .and (bJ tbe Project Implementiig Entity's tectronic Address is.: .Fasimile: 269-730 349 -4- AGREED as of the later of the two dates written below. INTERNATIONAL DEVLOPMENT ASSOCIATION By Autborized Representaf- Nane: 2 Vr u c Title: I, _ t Date: A CEN'TRA[L BANK 0 F THE COMOROS By Autborized Representative Name: UXQCA Title: eux * fln€t& Datle:_____________ __ SCHEDULE Execution of the Projecr. Section 1. Implementation Arrangiements A. Institutional Arrangenerits.. 1. The Implementation Entity Shall; (a) carry out the Project and maintain throughout ProJect implementation, a PlUto be responsible for the manageierit, coordination, supervision, and monitoring of Project.activities; (b) cause the PTU to maintRin, throughout Project impleimntation key staff i.e.,: (i) a Project coordinator, (ii) a financial miaagement specialist. (iii).an accountant, and .(iv) a procurement specialist, and thereafter maintain, until completion of the Project, a strmeture, responsibilities, and such key staff with functions, experience, responsibilities, qualifications and Integrity acceptable: to the Association.and described in the Project Operations Manual (POM): and (6) cause the PIUJ to appointand lire, no later than onie (1) month after the cffootiveness date, an. cnvironmnieal specialist with functions, experience, responsibilities, qualificatios and integrity acceptable to the Associati6n and described in the Project. Operatiots Manual (POM). 2, No. later than six (6) month prior to the establishment.of the national retail payment switch under Part L I (b), the BCC shall establish and maintain a SwitchImplethentaticn Group (SIG) to serve as the body.for national-switch- related dialogue, coordination, and iianagement in iorn and .substance and with resources and functions satisfactory to [he Association; including.staff all with nqualifications,integrity, experience.and terms af reference satisfactory to the.Association.. 3i Implementation Agreement has been executed on behalf of the BCC through the PIU and the CRC is iii full force and effect to cary out Part 1.2 (ii) of the Prpject. B. Project Operations Manual 1. The Implementing Entity shall: (a). carty out the Project, in accordance. with the Project Operations Manual. (POM), containing detailed arrangernents.and procedures for: (i) institutional coordination and day-to-day execution of the Project, (ii) moniloting, evauation, reporting aad coibmunicatiot; (iii) administration, financial management and accounting. and -6- (iv).such other administrAfive, technical and organizational arrangements, and procedures as shall be requi1ed for purposes Of implementation of the Project. (b} For the purposes. of imllementing Part 1. 1.h (iv) of the- Project, the POM shall adopt criteria and a selection- process for the selection of the BCC's backup data site in form and substance acceptable to the Association. (c) Except as the Association shall otherwise agree in writing, not amend or wairve, or permit to be amended or waived any provision of the POM. .2. In case of conflict between.The. provisions of the P0M and Ihis Agreement or the Project. Agreement, the provisions of this Agreement and the Project Agreenient shall prevail. C. Subsidiary Agreement. (a) The Project Implementing. Entity shall enter into a subsidiary .agreenientwith the Recipient ("Subsidiay Agreement"), under terms and conditions-approved by the. Association. (b) The Project iinplementing Entity shall exercise its righs under the Subsidiary Agreement in such manner as to protect the interests of the Ricipien and the Bank and to the purpose of the Project. Except Es the Mnk-shall otherwise agree, the Project Implementing Entity shall not assign, amend, abrogate or waive the Subsidiary Agreement orany of its provisions; D. Anti-Corruption The Recipient shall ensure that the Project is carried out in accordahce with the provisions ofthe Anti-Corruption Guidelines. E. Environmental and Social Standards The Projedt Implementing Entity shall ensure that the Project is carried out in accordaftee with the Enironmental and Social Standards, in a manner acceptablc to the Association.. 2. Without limitation upon paragraph I above, the Project Implementing Entity shall. ensure that the Project is implemented in accordanct with the Environmental and Social Commitment Plan ("ESCP"), .in a manner acceptablo to the Association. To. this end, the Project Implementing Entity shall ensure that: (a). the measures and actions specified in the ESCP are implemented with due diligence and efficiency, and provided in the ESCP; _-7- (b) sufficient funds. are available. to cover the costs of implementing the ESCP; (e) poicies.and procedures are maintained, and qualified and experienced staff in adequate. numbers, are retained to implement te ESCP,_ s provided in the ESCP; and (d) the ESCP, or any provision. thereof, is. not amended repealed, suspended orwaived, except as the.Association shall otherwise agree in .writing- as specified in-the ESCP, and ensure that the revised ESCP is disclosed promptiythereather. 3. In cas6 of any inconsistencies between the ESCP and the provisions of this Agreement, the provisions of this Agreement shall prvail. 4. TheProject bplenenting Enltity shallensure that: (a) all measuresi necessary ate taken to collect, compiie, and furnish to the Association through regular reports, with the freqnency specified: in -the ESCP, and promptly-in.a separate report or reports, ifso requested by the Associatiom infornatiop on the-status of compliance with the ESCP and the eIvitonmental and social instruments-referred to therein, all such reports ir- form and substance acceptable to the Association, setting put, inter alia; (i) the status of implementation of the ES(P; (ii) coiditions if a6yM,-which iiterfere or threaten to-interfere with the implementation of the ESeP; and (iii) corrective and preventive measures taken or required to be taken to.address such conditions; and (b) the Association is promptly notified of any incident or accident related to or having ani impact or the Projet which haS, oris likely to hive, a significant adverse effect on the cnvironment, the affected communities, the public or votkers. in accordance with the ESCP, the environmental and social instruments referenced therein and the Environmental and Social Standards. 5. The Project Implementing Entity shall establish, publicize, maintain and operate an accessiblegrievance mechanism,.to receive and facilitate resolutioi of concerns and grievances of Project-affected people, and take all measures necessaly and appropriate to resolve, or facilitate the resolation of, such concerns aid grievances, in a rmanner acceptable to the Association. 6. The Pr6ject Implemnenting Entity shall ensure that all bidding documents and contracts for civil. works-under-the Project include the obligation ofcontractors to: (a) comply with the relevant aspects of ESCP and-the envirommental and social instru-ients refeiied to therein- and (b) adopt and enforce codes of opnduct that shoild be provided to and signed by all workers detailing ineasures to address enviromnental, social, health and safety risks, andthe risks of sexual exploitation and abuse, sexual: harassment and violence 6gaihist -.8- children, all as applicable to such civil works comnissioned or cai"ed dut pursuant to said contracts. Section IL Project Monitorina, Reporting and Evaluation A. Project. Reports. The Prqject Implementing Entity.shall monitor and evaluate the progress ofthe'Project arid preparc Project Reports in accordance with Ih provisions of Section 5.08 (b) of the General.Conditions and on the basis of the indicators acceptable to the Association. Each such Project Report shall cover th6 period of oni (1) calendar sernester, and shall be furtishedio the Recipient not later than two (2) weeks afterthe ond of the period covered by such report for incorporation and forwarding. by the Recipient to .the Association.of the overall Project: Report.