Framework Administered Account for Selected Fund Activities—European Commission Subaccount for Selected Fund Activities
Policy Papers, November 11, 2009
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Bibliographic details
- Published: November 11, 2009
- Series: Policy Papers
Overview
- The Fund, represented by the Managing Director, has reached understandings with the European Commission (EC) to finance capacity building (technical assistance and training) and related activities.
- On the basis of these understandings, the Managing Director and EC President Barroso signed a framework agreement on January 12, 2009.
- The provisions of the framework agreement serve as the essential terms and conditions of the Subaccount with respect to:
- the nature, design, and implementation of the activities to be financed; and
- the method by which the costs of the activities will be financed from the Subaccount.
Key provisions and scope
- Purpose:
- Finance capacity building (technical assistance and training) and related activities.
- Parties:
- The Fund (represented by the Managing Director) and the European Commission (EC); EC President Barroso is the EC signatory noted.
- Legal/operational role:
- The framework agreement’s provisions constitute the essential terms and conditions of the Subaccount concerning activity design, implementation, and financing mechanisms.