Pre-financing
Article 20
1. Following the submission of the Reform Agenda to the Commission, the beneficiary may request the release of a pre-financing of up to 7 % of the total amount foreseen under this Facility in accordance with Article 6(4). 2. The Commission may release the requested pre-financing after the adoption of its implementing decision referred to in Article 15 and the entry into force of the Facility Agreement and of the loan agreement referred to in Articles 9 and 17 respectively. The funds shall be released in accordance with Article 21(3), first sentence, and subject to the respect of the preconditions set out in Article 5. 3. The Commission shall decide on the timeframe for the disbursement of the pre-financing, which may be disbursed in one or more tranches.