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p. 4 of 9 BACK | NEXT I. Introduction II.Objectives and Scope III.Implementation Arrangements IV. JFPR Implementation Arrangements V. Conclusion VI. Recommendation Appendixes

Cooperation with Japan: Japan Fund for Poverty Reduction (2000)

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IV. JFPR Administration Arrangements

A. Contribution and Bank Account

30. The proposed contribution of ¥10 billion will be made available to ADB upon the signing of the Arrangement Establishing the Japan Poverty Reduction Fund (the Arrangement). The Arrangement is in Appendix 2. At its discretion, the Government may provide additional resources to the JFPR. The Government will deposit its initial contribution (and any successive contributions) to the JFPR into an account with the Bank of Japan in the name of ADB. Interest earned on such amount will be used for the purpose of JFPR.

B. Administration Cost

31. The JFPR would be administered by ADB. For administering the JFPR, ADB may use part of the JFPR (together with any interest earned thereon) to cover the direct and identifiable costs⁴ incurred in the administration of the JFPR including monitoring and evaluation.

C. Records and Accounts

32. ADB will maintain records and accounts in accordance with its normal procedures to show expenditures financed by the JFPR. ADB will arrange to provide the Government with periodic reports on the utilization of the JFPR and the activities financed by the JFPR. ADB will maintain records and accounts of the JFPR, and such records and accounts will be audited annually by independent auditors.

D. Termination and Residual Funds

33. If and when the purpose of the JFPR is considered to have been fulfilled, and the arrangements of the JFPR terminate, the use of any residual funds including investment income of such funds will be determined in consultation between the Government and ADB.

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