Page:UN Treaty Series - vol 599.pdf/22

14 marketing to co-operate with each other and with the Industrial Development Corporation, the National Housing Authority and other appropriate agencies of the Borrower in such manner and to such extent as shall be necessary for the diligent and efficient carrying out of the Project. The Borrower shall maintain a Crown Lands Development Committee responsible for co-ordinating the work of the said agencies with respect to the Project and advising the Project Director, so organized and with such other functions as shall be determined by agreement between the Borrower and the Bank. (c) The policies and procedures for carrying out the Project shall be determined by agreement between the Borrower and the Bank, and shall not be modified, suspended or terminated except by further agreement between them. (d) The Borrower shall establish and maintain arrangements satisfactory to the Bank, with ACB and such other public entities, and with such private enterprises as may be necessary for the carrying out of the Project. (e) The Borrower shall furnish to the Bank, promptly upon their preparation, the work and procurement schedules for the Project and any modification subsequently made therein, in such detail as the Bank shall reasonably request. (f) The Borrower shall, in the carrying out of the Project, employ or cause to be employed consultants and experts acceptable to, and to an extent and upon terms and conditions satisfactory to, the Borrower and the Bank. (g) The Borrower shall (i) cause separate records to be maintained such as shall be adequate to identify the goods financed out of the proceeds of the Loan, to disclose the use thereof in the Project, to record the progress of the Project (including the cost thereof) and to reflect in accordance with consistently maintained sound accounting practices, the operations of the Borrower's Ministry of Agriculture and of ACB with respect to the administration and operation of the Project or any part thereof; (ii) cause all accounts for the Project to be audited annually by an independent auditor acceptable to the Bank; (iii) enable the Bank's representatives to inspect the Project, the operation thereof, the goods and any records and documents relevant thereto; and (iv) furnish to the Bank all such information as the Bank shall reasonably request concerning the expenditure of the proceeds of the Loan, the Project, the goods and the operations, administration and financial condition of ACB and any agency or agencies of the Borrower responsible for the administration and operation of the Project or any part thereof. Section 5.02. The Borrower undertakes to insure the imported goods to be financed out of the proceeds of the Loan against marine, transit and other hazards incident to acquisition, transportation and delivery thereof to the place of No. 8662