Contribuições de submutuários

Policy
 

Contributions by Subborrowers to global programs through intermediary financial institutions will be recognized as part of the Local Counterpart Contribution, in an aggregate amount not exceeding 15% of the total cost of the program.
 

Basic Guidelines
 

This policy is subject to application of the following eligibility criteria:
 

1. The eligible contribution must have been for new investments in the subproject submitted to the intermediary institution for financing. Contributions by subborrowers to finance the recurrent costs of labor, working capital, amounts attributed to investments already made, or contributions in kind will not be recognized.

2. Contributions by the intermediary institution and/or the central government to the program must be equal to or larger than the eligible contribution by the subborrowers. There must also be assurances that the contribution of the subborrowers will form part of the local contribution to the program.
 

3. The subborrowers must present documentation that enables their contributions to be verified.
 

4. The eligible contribution of the subborrowers, in the aggregate, may not exceed 15% of the total cost of the program.

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Prevailing Reference Documents: GP­113, March 1986, to GP­113­3, April 1987.