[{"bbox": [157, 122, 1146, 172], "category": "List-item", "text": "- Satisfactory progress in the implementation of the GEP (or its successor policy) and continued credibility and relevance thereof;"}, {"bbox": [157, 174, 1146, 228], "category": "List-item", "text": "- Maintenance of a credible and relevant stability-oriented macro-economic policy or progress made towards restoring key balances;"}, {"bbox": [157, 228, 1146, 308], "category": "List-item", "text": "- Satisfactory progress in the implementation of reforms to improve the public finance management, including domestic revenue mobilisation, and continued relevance and credibility of the reform programme;"}, {"bbox": [157, 308, 1146, 359], "category": "List-item", "text": "- Satisfactory progress with regard to the public availability of timely, comprehensive and sound budgetary information."}, {"bbox": [84, 387, 1146, 441], "category": "Text", "text": "As the current education support programme came to an end in early 2021, follow-up through a successor programme will allow to continue further development and consolidate achieved reform gains."}, {"bbox": [84, 467, 367, 493], "category": "Section-header", "text": "### b) The performance indicators"}, {"bbox": [84, 494, 1146, 627], "category": "Text", "text": "The performance indicators for disbursement to be used for variable tranches may indicatively focus on the policy priorities. The variable tranches are based on the set of indicators agreed upon by the GoG and the European Commission for the monitoring of the GEP during the period 2021 - 2027. These indicators are a mix of input, output, outcome and impact indicators; they will be detailed in the Financing Agreement and its technical and administrative provisions are indicatively detailed in the appendix for budget support of the action document."}, {"bbox": [84, 653, 237, 679], "category": "Section-header", "text": "### c) Modifications"}, {"bbox": [84, 680, 1146, 786], "category": "Text", "text": "The chosen performance indicators and targets to be used for the disbursement of variable tranches will apply for the duration of the action. However, in duly justified cases, the partner country and the Commission may agree on changes to indicators or on upward/downward revisions of targets. Such changes shall be authorised in writing ex-ante, at the latest at the beginning of the period under review applicable to the indicators and targets."}, {"bbox": [84, 812, 1146, 998], "category": "Text", "text": "In exceptional and/or duly justified cases, for instance where unexpected events, external shocks or changing circumstances have made the indicator or the target irrelevant and could not be anticipated, a variable tranche indicator may be waived. In these cases, the related amount could either be reallocated to the other indicators of the variable tranche the same year or be transferred to the next variable tranche the following year (in accordance with the original weighting of the indicators). It could also be decided to re-assess an indicator the following year against the original target, if there was a positive trend and the authorities did not reach the target because of factors beyond their control. The use of this provision shall be requested by the GoG and approved in writing by the Commission."}, {"bbox": [84, 1024, 297, 1048], "category": "Section-header", "text": "### d) Fundamental values"}, {"bbox": [84, 1050, 1146, 1103], "category": "Text", "text": "In case of a significant deterioration of fundamental values, budget support disbursements may be suspended, reduced or cancelled, in accordance with the relevant provisions of the financing agreement."}, {"bbox": [147, 1140, 458, 1169], "category": "Section-header", "text": "### 4.3.3. Budget Support Details"}, {"bbox": [84, 1178, 1146, 1257], "category": "Text", "text": "Budget support is provided as direct untargeted budget support to the national treasury. The crediting of the euro transfers disbursed into Danish kroner will be undertaken at the appropriate exchange rates in line with the relevant provisions of the financing agreement."}, {"bbox": [84, 1258, 1146, 1337], "category": "Text", "text": "Budget support will be provided through a mix of variable and fixed tranches. While in the period 20014-2020, the variable tranche represented 20% of the allocated amounts, this programme foresees an increase to 25% in line with Commission policy."}, {"bbox": [109, 1382, 450, 1412], "category": "Section-header", "text": "## 4.4. Implementation Modalities"}, {"bbox": [84, 1438, 1146, 1516], "category": "Text", "text": "The Commission will ensure that the EU appropriate rules and procedures for providing financing to third parties are respected, including review procedures, where appropriate, and compliance of the action with EU restrictive measures³⁶."}, {"bbox": [72, 1585, 1158, 1662], "category": "Footnote", "text": "³⁶ www.sanctionsmap.eu. Please note that the sanctions map is an IT tool for identifying the sanctions regimes. The source of the sanctions stems from legal acts published in the Official Journal (OJ). In case of discrepancy between the published legal acts and the updates on the website it is the OJ version that prevails."}, {"bbox": [1041, 1662, 1158, 1685], "category": "Page-footer", "text": "Page 31 of 35"}]