[{"bbox": [96, 120, 1134, 201], "category": "Text", "text": "the logframe. More generally, this operation should be seen as complementary to other ongoing implementation modalities at sectoral level, with added value emanating from **elevating the policy dialogue with relevant Somali Authorities to the highest strategic level**, increasing the likelihood of achieving lasting results and impact."}, {"bbox": [96, 212, 1134, 266], "category": "Text", "text": "This operation envisages the **release of two mixed tranches of EUR 10 000 000 each, to be processed respectively in Q1 2024 and Q1 2025.**"}, {"bbox": [96, 277, 1134, 332], "category": "Text", "text": "This disbursement calendar and profile proposed for the action is indicative. The actual disbursement calendar and profile will be set out in the financing agreement and may remain subject to change."}, {"bbox": [85, 357, 574, 385], "category": "Section-header", "text": "### 4.3.2 Criteria for Disbursement of Budget Support"}, {"bbox": [96, 400, 232, 426], "category": "Text", "text": "#### a) Conditions."}, {"bbox": [96, 426, 754, 452], "category": "Text", "text": "The **general conditions** for disbursement of all tranches are as follows:"}, {"bbox": [96, 453, 1134, 506], "category": "List-item", "text": "- Satisfactory progress in the implementation of the current NDP (and of its successor policy instrument), and continued credibility and relevance thereof or of the subsequent policy."}, {"bbox": [96, 507, 1134, 560], "category": "List-item", "text": "- Maintenance of a credible and relevant stability-oriented macroeconomic policy or progress made towards restoring key balances."}, {"bbox": [96, 560, 1134, 613], "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": [96, 613, 1134, 667], "category": "List-item", "text": "- Satisfactory progress with regard to the public availability of accessible, timely, comprehensive, and sound budgetary information."}, {"bbox": [96, 692, 935, 719], "category": "Text", "text": "The **specific conditions** (TBC with the authorities) that apply to all tranches are as follows:"}, {"bbox": [96, 720, 441, 747], "category": "List-item", "text": "- Sharing of monthly fiscal reports"}, {"bbox": [96, 747, 1134, 800], "category": "List-item", "text": "- Commitment to the Financial Governance Committee (FGC) mechanism over the duration of the EU Budget Support"}, {"bbox": [96, 800, 780, 827], "category": "List-item", "text": "- Sharing of the draft FGS annual budget prior to submission to Cabinet"}, {"bbox": [96, 852, 1134, 987], "category": "Text", "text": "b) The performance indicators for disbursement to be used for variable tranches will focus on progressing the constitutional settlement and institutional reforms in core aspects of education service delivery and PFM/DRM (see the logframe for details). Overall, this operation intends to contribute to linking more explicitly improvements in country systems and enhanced fiscal resources to more and better public services, hence supporting formal state structures to start meeting citizens' expectations when it comes to providing basic public goods such as education."}, {"bbox": [96, 1012, 260, 1038], "category": "Text", "text": "#### c) Modifications."}, {"bbox": [96, 1038, 1134, 1146], "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": [96, 1171, 1134, 1383], "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": [96, 1409, 311, 1435], "category": "Text", "text": "#### d) Fundamental values"}, {"bbox": [96, 1435, 1134, 1490], "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, 1503, 380, 1530], "category": "Section-header", "text": "### 4.3.3 Budget Support Details"}, {"bbox": [96, 1544, 1134, 1626], "category": "Text", "text": "Budget support is provided as direct untargeted budget support to the national treasury. The crediting of the euro transfers disbursed into US Dollars will be undertaken at the appropriate exchange rates in line with the relevant provisions of the financing agreement."}, {"bbox": [1027, 1680, 1145, 1705], "category": "Page-footer", "text": "Page 22 of 26"}]