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ANNEXES 6.1. Financing Agreement Republic of Uganda MINISTRY OF GENDER, LABOUR AND SOCIAL DEVELOPMENT YOUTH LIVELIHOOD PROGRAMME (YLP) Project Financing Agreement This FINANCING AGREEMENT has been made and entered on this .......... day of ……................................... 20…..... at ......................................................................... between ………………………......District Local Government (Represented by the Chief Administrative Officer), and the Beneficiary Youth of …………………………………………………………………..... Project (Represented by the Chairperson, Treasurer and Secretary of the Youth Project Management Committee) WHEREAS the Government of Uganda desires to support the Youth in implementing Projects that empower them to harness their socio-economic potential and increase self-employment opportunities and income levels, and has set up the Youth Livelihood Programme (YLP) as one of the means for providing such support; WHEREAS the support will be provided through Youth Interest Groups in form of interest-free Revolving Funds for viable income generating projects and skills development projects; WHEREAS The Youth of: ...............................................................…Village/Cell, …………………………. .............................Parish/Ward, ……………………………............................Sub-county, .....................................................................DISTRICT have applied to the Chief Administrative Officer (CAO) for funds under the Youth Livelihood Programme to finance their Project: Title : ……………………………………………………………………..................................... Number : …………………………………………………………………...................................... WHEREAS The Project has been appraised by the Sub-county Technical Planning Committee (STPC), reviewed and approved by the District Technical Planning Committee (DTPC) and endorsed by the District Executive Committee (DEC). THEREFORE the Chief Administrative Officer of .............................................District and the Youth Project Management Committee of the ......................................................................... .............................................................................................................. Project, hereby agree as follows: 1. The ………….………………………………………………………………………Project shall consist of the following components/ Activities: Component/Activities Expected Key Output (s) ……………………………………......... .....…………………………......... ……………………………………......... .....…………………………......... ……………………………………......... .....…………………………......... ……………………………………......... .....…………………………......... 2. ................................................................................................... District will disburse a sum of Ug.Shs……………………….............. (in figures) ................................................................................................................................................ ................................................................................................................................................ ........................................................ (in words), to finance the approved activities and items under the Project. 3. The Youth Project Management Committee has opened a current account special for the Project with the following details: Account title:…………………………………………………………………………… Account number: ………………………………………………………………………… Bank:……………………………………………………………………………………… Branch:…………………………………………………………………………………… 4. There shall be three (3) signatories to the Bank Account, namely: (i) Chairperson, Youth Project Management Committee, (ii) Sub-county Chief/Town Clerk of the Sub-county/Town Council or Division, and (iii) Sub-Accountant/Treasurer or Finance Officer of the Sub-county/Town Council or Division The particulars of the signatories are as follows: Name Title/Position (i)……………………………………………………… ................................................... (ii)…………………………………………………….. ............................................... (iii)……………………………………………………. ............................................ 5. The members of the Youth Interest Group shall co-guarantee one another for purposes of successful implementation of their Project and full repayment of the Revolving Fund. The co-guarantee shall be by each individual member of the group and shall be enforceable either individually or severally. 6. The Youth Project Management Committee is responsible for proper record keeping for all Project related financial transactions, and use and safe-custody of goods acquired under the Project. 7. The Youth Project Management Committee and the Youth Procurement Committee are responsible for procuring all inputs, goods and services required for project implementation within the approved budget and in accordance with YLP Community Procurement guidelines. 8. The relevant sector experts at the District and Sub-county Local Government level shall provide day-to-day technical guidance and certification on matters of procurement of inputs and general implementation of the project. 9. The Youth Project Management Committee agrees to complete project implementation within a period of ........................................... months from the date of signing this agreement (completion period: launch to commissioning). 10. The Youth Project Management Committee is not permitted to use the funds provided under YLP for any activity other than activities and items stipulated in the approved project budget. 11. The Youth Project Management Committee shall provide complete information regarding the progress in implementation or any related aspect or any matter relating to this agreement on monthly basis to the members of the Youth Interest Group, Sub-county Chief and Chief Administrative Officer. 12. The Sub-county and District Local Governments and Ministry of Gender, Labour and Social Development will undertake technical supervision, monitoring and evaluation project implementation. 13. The Youth Project Management Committee undertakes to repay the Revolving Fund in ............................................................. monthly instalments of Ushs........................................................ over a period of ....................................... months. Start- month of repayment is ................................... 20......... 14. 15. End- month of repayment is ..................................... 20......... The repayment shall be in-cash or in-kind as shall be determined by the Chief Administrative Officer and the Youth Project Management Committee. All repayments made within the first twelve (12) months from the date of disbursement of funds to the Youth Group Project Account will not attract any charge (interest-free). 16. Any repayment made after the first twelve (12) months shall attract a service-fee of 5% of the amount outstanding, to cater for inflation. 17. Overall, repayment of the principal and service-fee shall not exceed 36 months (3 years) from the date of disbursement of funds to the Youth Group Project Account. 18. The Chief Administrative Officer and/or Permanent Secretary, Ministry of Gender, Labour and Social Development can suspend implementation and financing of any project if it becomes evident that the Youth Interest Group (YIG) is not performing its work satisfactorily as per the terms of this Agreement. 19. If there are serious problems such as financial irregularities, misappropriation, lack of physical progress or failure to provide satisfactory reports, the Chief Administrative Officer and/or Permanent Secretary, Ministry of Gender, Labour and Social Development can recommend that the project be cancelled. 20. This Agreement may be amended or cancelled by mutual consent of the Chief Administrative Officer and the Youth Project Management Committee in writing provided such amendment or cancellation does not lead to loss of funds disbursed to the Youth Interest Group. 21. If during implementation of the subproject, any dispute arises between the Chief Administrative Officer and the Youth Project Management Committee relating to any aspects of this Agreement, the Parties shall first attempt to settle the dispute through mutual and amicable consultation. If the dispute is not settled through such consultation, the matter may be referred for arbitration under the Arbitration and Conciliation Act (Chapter 4). 22. This Agreement shall be governed by the Laws of the Republic of Uganda. SIGNATURES: FOR AND ON BEHALF OF GOVERNMENT Name:…………………………………………………….. Signature:……………………………………………….. Date:……………………………………………………… Chief Administrative Officer …………………………………………. District FOR AND BEHALF OF THE YOUTH INTEREST GROUP Name Signature Date Position (i)………………………………… …………… ……………....... Chairperson (ii)……………………………… …………… ……………....... Treasurer (iii)……………………………. …………… ……………….. Secretary WITNESSED BY-SUB-COUNTY CHIEF/TOWN CLERK: Name:…………………………………………………….. Signature:……………………………………………….. Date: ……………………… Sub-county/Town Council/Division:……………………………………………………………… WITNESSED BY DISTRICT COMMUNITY DEVELOPMENT OFFICER: Name:…………………………………………………….. Signature:……………………………………………….. Date: ……………………….. 6.2. Funds Repayment Schedule REPUBLIC OF UGANDA MINISTRY OF GENDER, LABOUR AND SOCIAL DEVELOPMENT YOUTH LIVELIHOOD PROGRAMME (YLP) Revolving Fund Repayment Schedule This Repayment Schedule is made today _________day of________________ 201_ Between The Youth Interest Group of Project Name:___________________________________________ Located at Village/Cell: ______________________ Parish/Ward: _______________________ In the Sub-county/Division/Town Council of:________________________________________ And District Local Government/City Authority of : ________________________________________ After receipt of UGX. (in words): __________________________________________________ ______________________________________________________________________________ (UGX._______________________) under YLP on the (Date) ___________________________ The Youth Interest Group agrees to repay the funds as scheduled below by cash/cheques in the bank as detailed below: Bank Name and Branch:__________________________________________________________ Account Number: _______________________________________________________________ On behalf of the Youth Interest Group Chairperson YPMC: Name:______________________________ Telephone:________________ Treasurer YPMC: Name:________________________________ Telephone:________________ Secretary YPMC: Name:_________________________________ Telephone:_______________ On behalf of the District Local Government/City Authority Name and signature of Chief Administrative Officer/Executive Director: ______________________________________________________________________________ Witnesses Name and signature of Sub-county Chief/Town Clerk:__________________________________ Name and signature of Community Development Officer:_______________________________ Name and signature of Chairperson Sub-county Youth Council___________________________ 1. 2. 3. 4. 5. 6. 7. 8. 9. 1 Date of Repayment Amount Payable1 5% of Inflation2 Cost After 12 Months Total Due Payments3 Do not write in this space for the first 12 months if the YIG will complete repayments of all the funds received No This is the amount of money received from YLP divided by the number of times the YIG has to repay the money and should be in equal amounts. This is highly dependent on the gestation period as well as the cash flow of the project. 2 This is 5% of the balance of the funds received but not yet repaid at the end of 12 months after receipt of the funds and is a flat rate of 5% per annum. The amount resulting from the 5% is then distributed in equal amounts across the months in the calendar year starting with the 13th month. 3 This is the same as amount payable in the first 12 months. From the 13 th month (after One year), this is a summation of amount payable and the 5% inflation cost. No 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. Date of Repayment Amount Payable1 5% of Inflation2 Cost After 12 Months Total Due Payments3 No 32. 33. 34. 35. 36. Date of Repayment Amount Payable1 5% of Inflation2 Cost After 12 Months Total Due Payments3