Article 3
1. The financial reference amount for the implementation of the action referred to in Article 1 shall be EUR 2 700 000,00. 2. The expenditure financed by the reference amount set out in paragraph 1 shall be managed in accordance with the procedures and rules applicable to the general budget of the Union. 3. The Commission shall supervise the proper management of the expenditure financed by the reference amount set out in paragraph 1. For that purpose, it shall conclude a financing agreement with the GICHD, stipulating that the ISU is to ensure the visibility of the Union’s contribution, appropriate to its size. 4. The Commission shall endeavour to conclude the financing agreement referred to in paragraph 3 as soon as possible after the entry into force of this Decision. It shall inform the Council of any difficulties in the process and of the date of conclusion of the financing agreement. 5. The ISU shall implement the action referred to in Article 1 in accordance with the Decision on strengthening financial governance and transparency within the ISU, taken at the Fourteenth Meeting of the States Parties in 2015. The ISU shall provide, amongst other reporting, narrative and quarterly reports, as well as a logical framework and activity matrix as set out in the Annex.