Contribution Agreement between
the Government of the Republic of Kazakhstan and the Organisation for
Economic Co-operation and Development-Eurasia Competitiveness
The Government of the Republic of Kazakhstan (hereafter - the Government) and the Organisation for Economic Co-operation and Development (hereafter - the OECD or the Organisation) have agreed as follows:
Article 1. Subject of the Agreement
The Government agrees to finance the work of the OECD Global Relations Secretariat Eurasia Competitiveness Programme (hereafter - the «ECP») for a total amount of EUR 2 000 000 (two million Euros) in accordance with the OECD Programme of Work and Budget for 2015-2016 for the ECP. The work of the ECP supports the design and implementation of policies in favour of competitiveness in the Eurasia region by: encouraging Eurasian countries to align themselves with OECD policy standards and other instruments; identifying policy barriers to competitiveness; and supporting capacity building on the design and implementation of policies to improve competitiveness.
Article 2. Budget and financing mechanisms
1. The contribution will be paid in two instalments, as follows:
1)the first instalment of EUR 1 000 000 (one million Euros) upon signature of this Agreement and receipt of the corresponding invoice from the OECD;
2) the second instalment of EUR 1 000 000 (one million Euros) by 30 April 2016 at the latest upon receipt of the corresponding invoice from the OECD.
2. The OECD shall administer the contribution in accordance with its Financial Regulations and other relevant OECD rules, policies and procedures, which currently provide for an administrative cost recovery charge of 5.3% of the total contribution amount. The expenditure will be recorded in the accounts of the OECD, which follow generally accepted accounting principles.
Article 3. Description of activities and reporting
The Government agrees that financial reporting requirements are met with yearly statements of expenditure, in accordance with the OECD standard reporting format.
Article 4. Use of the project results
1. The results of the work carried out by the OECD, in whatever form, shall be the sole property of the Organisation.