Article 3
1. The Community financial assistance shall be made available by the Commission to Georgia in two instalments. 2. The Commission shall decide on the release of the instalments subject to a satisfactory implementation of the economic programme supported by the IMF and of any other conditions agreed between Georgia and the Community in accordance with Article 2(1). The disbursement of the second instalment shall not take place earlier than three months after the release of the first instalment. 3. The Community funds shall be paid to the National Bank of Georgia. Subject to provisions to be agreed in the Memorandum of Understanding, including a confirmation of residual budgetary financing needs, their counter-value in local currency may be transferred to the Treasury of Georgia as the final beneficiary.