Principles for financing under the Reform Agendas
Article 12
1. The Facility shall provide incentives for the implementation of the Reform Agenda of each beneficiary by setting payment conditions on the release of funds. Those payment conditions shall apply to funds under Article 6(2), point (a), and Article 6(3) and shall take the form of measurable qualitative or quantitative steps. Such steps shall reflect progress on specific socio-economic reforms and on the fundamentals of the enlargement process linked to the achievement of the objectives of the Facility set out in Article 3, consistent with the enlargement policy framework. The fulfilment of those payment conditions shall trigger full or partial release of funds, depending on the degree of their completion. 2. In respect of financing implemented through the fund referred to in Article 19, the fulfilment of the payment conditions referred to in paragraph 1 of this Article shall constitute a preliminary validation. The funds shall be paid following receipt of a payment request from the ‘fund managers of the joint fund established under the WBIF for receiving donors’ contributions. 3. Macro financial stability, sound public financial management, transparency and oversight of the budget are general conditions for payments that shall be fulfilled for any release of funds. 4. Funds under the Facility shall not support activities or measures which undermine peace agreements in the region.