Untitled Document

The project aimed to support Guatemala in developing a trained cadre of public and private sector representatives at all socio-economic levels to enhance their skills in policy making, planning, management, and technical areas required to support Guatemalan political, social, and economic development. The project was further described in Annex "A" attached to the agreement, which amplified the description of the project. Within the limits of the above definition of the project, elements of the amplified description stated in Annex "A" may be changed by written agreement of the authorized representatives of the parties named in Section 8.2 without formal amendment of this Agreement. AID's contribution to the project was provided in increments, with the total life of project funding planned to be US$8,000,000 paid in increments. The initial increment was made available in accordance with Section 3.1 of this Agreement. Subsequent increments were subject to the availability of funds to AID for this purpose and to the mutual agreement of the parties at the time of a subsequent increment. To assist the Grantee to meet the costs of carrying out the project, AID agreed to grant the Grantee under the terms of this Agreement an amount not to exceed NINE HUNDRED FIFTY THOUSAND UNITED STATES DOLLARS ($950,000). The Grant may be used to finance Foreign Exchange Costs, as defined in Section 6.1, and local currency costs, as defined in Section 6.2, required for the project. The Grantee agreed to provide or cause to be provided for the project all funds, in addition to the Grant, and all other resources required to carry out the project effectively and in a timely manner. The resources provided by the Grantee for the project would not be less than the equivalent of U.S. $317,000.00. These costs could be borne on an "in-kind" basis. The Project Assistance Completion Date (PACD), which is September 30, 1993, or such other date as the parties may agree to in writing, is the date by which the parties estimate that all services financed under the Grant will have been performed and all goods financed under the Grant will have been furnished for the project as contemplated in this Agreement.