[{"bbox": [97, 122, 1133, 174], "category": "List-item", "text": "- Satisfactory progress in the implementation of the public policy of formalisation of the economy and continued credibility and relevance thereof or of the subsequent policy."}, {"bbox": [97, 175, 1133, 227], "category": "List-item", "text": "- Maintenance of a credible and relevant stability-oriented macroeconomic policy or progress made towards restoring key balances."}, {"bbox": [97, 228, 1133, 280], "category": "List-item", "text": "- Satisfactory progress in the implementation of reforms to improve public financial management, including domestic revenue mobilisation, and continued relevance and credibility of the reform programme."}, {"bbox": [97, 281, 1133, 334], "category": "List-item", "text": "- Satisfactory progress with regard to the public availability of accessible, timely, comprehensive, and sound budgetary information."}, {"bbox": [97, 347, 1133, 427], "category": "Text", "text": "b) The performance indicators for disbursement to be used for variable tranches may focus on the following policy priorities: formalisation policy and services, coverage and social benefits of the social security system, inclusive financial access and improved business environment."}, {"bbox": [97, 440, 253, 465], "category": "Text", "text": "c) Modifications"}, {"bbox": [97, 478, 1133, 585], "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": [97, 597, 1133, 809], "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 partner country and approved in writing by the Commission."}, {"bbox": [97, 822, 308, 847], "category": "Text", "text": "d) Fundamental values"}, {"bbox": [97, 860, 1133, 914], "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": [85, 940, 378, 967], "category": "Section-header", "text": "### 4.3.3 Budget Support Details"}, {"bbox": [97, 982, 1133, 1062], "category": "Text", "text": "Budget support is provided as direct untargeted budget support to the national treasury. The crediting of the euro transfers disbursed into Angolan Kwanza will be undertaken at the appropriate exchange rates in line with the relevant provisions of the financing agreement."}, {"bbox": [85, 1088, 439, 1118], "category": "Section-header", "text": "## 4.4 Implementation Modalities"}, {"bbox": [97, 1135, 1133, 1212], "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 measures⁶¹."}, {"bbox": [85, 1240, 482, 1268], "category": "Section-header", "text": "### 4.4.1 Direct Management (Procurement)"}, {"bbox": [97, 1283, 1133, 1362], "category": "Text", "text": "A part of this Action (i.e., a part of the complementary support) will support the Government capacities to formulate, plan and implement its reform activities and to implement and monitor the Budget Support Sector Performance Reform Contract, and contribute to the achievement of Specific Objectives 1, detailed in section 3.1."}, {"bbox": [85, 1388, 615, 1416], "category": "Section-header", "text": "### 4.4.2 Indirect Management with a pillar assessed entity"}, {"bbox": [97, 1431, 1133, 1537], "category": "Text", "text": "A part of this Action may be implemented in indirect management with ILO. This implementation entails support to capacity development in particular for social protection enhancement and sustainability. In particular, ILO will provide advice and expertise to social security policy in areas of i) development policy; ii) institutional setting, organisational reform and change management; iii) human resources development; iv) actuarial studies, policy"}, {"bbox": [85, 1579, 1143, 1646], "category": "Footnote", "text": "⁶¹ 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": [1027, 1681, 1143, 1705], "category": "Page-footer", "text": "Page 28 of 33"}]