2. Fund Flow Under MACP

agreement with MSAMB / Nationalised Bank would serve as a guarantee to the World Bank for the beneficiary contribution to be contributed.  The loan tranche would be availed by APMC as and when required while making payments to contractors.
Grants release to FCSCs and Rural  Haats
19. As community participation in procurement has been envisaged in the project,  the FCSC and Rural Haat will have the powers to procure goods and services under the project .

  • For this procurement purposes, the budgetary funds would be released by the office of DDRCS by DDRCS by submitting the bill to treasury and the treasury issuing the cheque in favour of concerned FCSC or  Rural Haat.

  • The beneficiary contribution at the FCSC / Rural Haat would be deposited in a separate bank account opened for the project purpose. 

  • Initially for making payments to contractors/ suppliers , the beneficiary contribution would be spent and a certificate to that effect should be signed by the Chairman of that organisation and counter signed by the SP.  Based on this certificate, the DDRCS would release the part of State Govt/ World Bank funds.

  • The basis of release of funds by the DDRCS to these beneficiary organisations would be as mentioned below.  The project funds would be released  in three tranches of  30% each of total amount of funds for RH and 25% each of total amount of funds for FCSCs .

  • For first tranche

1) Documentary evidence that a separate bank account has been opened by the organisation for the project purpose.
2) Bank statement showing that beneficiary contribution has been deposited in the bank account.
 
3) Certified copy for the utilisation of initial 10% beneficiary contribution and counter signed by SP.
4) Photograph of the work done

  • The second and subsequent tranches - To avoid a time gap between request and availability of funds, a request for

Dept/Cell: 
Finance