4. The Board of the Foundation shall be empowered to engage staff for the proper performance of its functions and to engage independent contractors as technical or professional staff as necessary. 6. a. b. C. An annual program by 1 June 1992, and thereafter on the first of June of each year, covering the following twelve-month period from 1 August through 31 July; An annual report by 30 October 1993, and thereafter on 30 October of each year, on the activities funded by the Foundation (which shall include on-going, multi-year projects) covering the previous 1 August - 31 July period; An annual audit by an independent auditor, by 30 October 1993, and thereafter on 30 October of each year, covering the previous 1 August - 31 July period. Proposed grants from the Fund in excess of U.S. dollars 100,000 over the life of a project shall be presented by the Board to both Parties. If either Party disapproves of such a grant, that Party must notify the Board of its disapproval, in which case the Board may not award the proposed grant. Proposed grants not disapproved by either Party within 45 days of presentation to the Parties' members of the Board shall no longer be subject to either Party's disapproval. 7. The Board of the Foundation shall ensure that performance under grants is monitored to determine whether time schedules and other performance goals are being achieved. Grant agreements shall provide for periodic progress reports from the grantee to the Foundation. Such reports shall review all project components essential to the successful achievement of the goals of the project. Such reports should be received from the grantee at least annually. Article VI ELIGIBILITY OF PROJECTS AND ORGANIZATIONS 1. Activities that may be funded under this Agreement are: (i) restoration, protection, or sustainable use of the world's oceans, seas, and atmosphere; (ii) restoration, protection, or sustainable use of diverse animal and plant species; (iii) establishment, restoration, protection, and maintenance of parks and reserves; (iv) development and implementation of sound systems of natural resource management; (v) (vi) development and support of local conservation programs; training programs to strengthen conservation institutions and increase scientific, technical, and managerial capabilities of individuals and organizations involved in conservation efforts; (vii) efforts to generate knowledge, increase understanding and enhance public commitment to conservation; (viii) design and implementation of sound programs of land and ecosystem management; (ix) (x) (xi) promotion of regenerative approaches in farming, forestry, fishing, and watershed management; agriculture-related activities, including those that provide for the biological prevention and control of animal and plant pests and diseases, to benefit the environment; and local community initiatives that promote conservation and sustainable use of the environment. a. Jamaican nongovernmental environmental, conservation, development, and educational organizations; Grants shall be awarded to organizations strictly on the merits of proposals presented to the Board of the Foundation without regard to whether the proposing organization does or does not have representation on the Board. 3. The Board of the Foundation shall give priority to projects that are managed by nongovernmental organizations and that involve local communities in their planning and execution. 1. Article VII PAYMENTS FROM THE FUND The Board of the Foundation may disburse grants from the Fund to organizations eligible under Article VI 2. when it approves a proposal eligible under Article VI 1. All disbursements shall be made pursuant to a project grant agreement and be made promptly. In no case shall more than 14 days elapse after receipt by the fiscal agent of a request from the Foundation for disbursement of funds and actual disbursement of such funds. 2. The Board of the Foundation may direct the fiscal agent to draw sums from the Fund necessary to pay for the Foundation's administrative expenses, including the fiscal audit required pursuant to Article V. These sums may not exceed 15 percent per annum of the annual payments into the Fund made by the Government of Jamaica pursuant to the Debt Reduction Agreement, except as the Parties may otherwise agree by exchange of notes. 1. Article VIII CONSULTATION AND REVIEW Upon the request of either Party, the Parties shall consult concerning the implementation or interpretation of this Agreement. These consultations shall take place within 60 days after the request for consultation is received in writing from the other Party. 2. Either Party may request consultation with the Foundation and the other Party after reviewing the Foundation's reports and audits presented pursuant to Article V 5. These consultations shall take place within 60 days after the request for consultations is received in writing from the other Party. 3. The Parties will meet to review the operation of this Agreement three years from the date of its entry into force. 1. Article IX SUSPENSION OF DISBURSEMENTS If at any time either of the Parties determines that issues requiring consultation under Article VIII have not been satisfactorily resolved, such Party may notify the other in writing. 2. Upon receipt of such written notification from the Government of the United States of America, the Government of Jamaica shall immediately instruct the Board to suspend disbursements which may be made under Article VII 1. of this Agreement. 3. Upon providing such written notification to the Government of the United States of America, the Government of Jamaica may immediately instruct the Board to suspend disbursements which may be made under Article VII 1. of this Agreement. suspension of disbursements shall mean that no further approval of grants will be undertaken until the Parties agree to resume such activity. 5. b. C. Disbursements pursuant to already approved grant agreements shall proceed unless the specific grant agreement is suspended pursuant to that grant agreement. Notwithstanding subparagraph 4.b. above, should the Parties jointly certify in writing to the If the Government of Jamaica fails to suspend disbursements which may be made under Article VII 1. of the Agreement within 14 days of receiving written notification from the Government of the United States (“the notification period”), the Government of the United States may, at its discretion, require that interest payments on the New EAI Obligation referred to in Article III of this Agreement falling due subsequent to the notification period, be made in U.S. dollars and be deposited in the appropriate U.S. Government account(s). Article X 1. Either Party may terminate this Agreement upon six months' written notice to the other Party. 2. No disbursements from the Fund shall occur after a Party has given notice to terminate this Agreement, unless the Parties agree to permit disbursements. The termination of this Agreement shall not prevent expenditures of funds disbursed before notice to terminate is given. 3. Upon termination of this Agreement, amounts remaining in the Fund shall, at the discretion of the United States Government, be converted into U.S. dollars and transferred by the Government of Jamaica into the appropriate United States Government account(s). Article XI 1. ENTRY INTO FORCE, AMENDMENT AND OTHER ARRANGEMENTS This Agreement shall enter into force upon signature and shall remain in force unless terminated by the Parties in accordance with Article X. 2. This Agreement may be amended by written agreement of the Parties. 3. Nothing in this Agreement shall prejudice other arrangements between the Parties concerning debt reduction or cooperation and assistance for environmental or conservation purposes. IN WITNESS WHEREOF, the undersigned, being duly authorized by their respective Governments, have signed this Agreement. DONE at Washington, this 26th day of November, 1991, in duplicate, in the English language. FOR THE GOVERNMENT OF THE E.U. Curtis Bohlen FOR THE GOVERNMENT OF Richard L. Bernal |