Nivel de adecuación de las competencias profesionales

Dated DD MMMMMM, 20YY

69. This MOU is just an example and by no means constitutes a legal contract between IFC and a client. When WBG staff sign an MOU with a client they should consult with the appropriate legal officers in charge.

This MEMORANDUM OF UNDERSTANDING (the “Agreement”) is signed on DD day of MMMMM, 20YY, by and between:

(1) MINISTRY OF [Counterpart Ministry], a government agency organized and existing under the laws of [Country]; and

(2) INTERNATIONAL FINANCE CORPORATION (IFC), an international organization established by Articles of Agreement among its member countries, including [Country].

WHEREAS:

A. International Finance Corporation, a member of the World Bank Group, is an international organization whose mission is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people’s lives. For the purpose of this project, IFC’s DFO facility [Name of Facility] will undertake the project. The [Facility] is a multidonor funded initiative set up by the IFC in [Country or Region], to reduce poverty through sustainable private sector development. The Financial Sector Development Program is one of IFC’s key programs and strengthening financial infrastructure in [Country] is an important objective.

B. The MINISTRY OF [Counterpart Ministry] is a government agency of [Country] and the key government agency responsible for drafting the [secured transactions law] [implementing decree for the secured transactions law] [regulation]. The Government of [Country] has established a drafting committee which consists of the representatives from [Counterpart and other ministries, central bank, et.al.] to prepare the [secured transactions law] [implementing decree] [regulation].

C. [Counterpart] and IFC intend to cooperate in the development of financial sector practices and regulations in [Country].

D. The purpose of this Agreement is to set out the main terms and conditions of the cooperation between [Counterpart] and IFC.

NOW, THEREFORE, in recognition of their interests and objectives, [Counterpart] and IFC hereby confirm their understanding in respect of the following:

I. BACKGROUND AND INTRODUCTION

Access to credit remains a significant constraint for private sector growth in [Country]. The lending environment is heavily reliant on collateral, and private firms are restricted in applying for credit because of the firms’ inability to effectively translate movable assets like equipment, receivables, and inventories into collateral. This significantly diminishes the ability for all businesses, but especially SMEs, to access credit.

To address these shortcomings, [Counterpart] of [Country] asked IFC to provide technical assistance in preparing the [secured transactions law] [implementing decree] [regulation] for the secured transactions law] and developing the secured transactions registry system in [Country] by a letter of request on MMMMM DD, 20YY.

In this respect, [Counterpart] and IFC have agreed that the technical assistance will be provided in three following areas :

1. To prepare the [secured transactions law] [implementing [decree] [regulation] for the existing Secured Transactions Law]

2. To devise the administrative and technical design of the registry system

3. To draft specifications for the registry system to enable procurement of software

4. To build the capacity of users of registry and create awareness about the newly introduced system Details of the project’s activities and expected timeline are explained below

II. PROjECT DELIVERABLES AND TIMELINES

The project will start in MMMMM 20YY and all of the following will be delivered by the end of MMMMM 20YY.

1. Assistance in preparing the [Secured Transactions Law] [implementing [decree]

[regulation] for the existing Secured Transactions Law]

IFC will assist the [Country] drafting committee in preparing the draft [law] [implementing decree] [regulation] in line with international best practice. Below are task activities to be carried out by the IFC expert team, which consists of the local and international experts:

IFC expert team will prepare a first draft of the [law] [decree] [regulation] for consideration by the [Country] •

drafting committee.

IFC expert team will present recommendations to the drafting committee and key stakeholders to get their •

feedback and comments.

After incorporating feedback from the drafting committee and key stakeholders, the IFC expert team will assist •

the drafting committee to prepare the discussion draft.

IFC expert team and the drafting committee will organize a consultation workshop and present the draft to key •

stakeholders in a detailed review of each feature.

IFC expert team will assist the drafting committee to finalize the [law] [decree] [regulation] based on feedback •

from key stakeholders

2. Assistance in devising the administrative and technical design of the registry

system

IFC expert team will develop a proposed technical design of the registry that is suitable conditions of [Country] and present it to [Counterpart] for approval.

3. Assistance in preparing technical specifications for registry software

The IFC expert will prepare detailed specifications for the application software required to support the technical design that is approved by [Counterpart] to enable preparation of tender documents for the software.

4. Assistance in building capacity of users and registry

The IFC expert will prepare training and public awareness programs and materials and work with [Counterpart] and registry staff to publicize commencement of operation of the registry under the [law] [decree] [regulation] and to train the end users and the registry staff on use of the registry system.

III. IFC RESPONSIBILITIES AND RESOURCES

[Counterpart] and IFC have discussed and agreed upon detailed terms of reference for IFC assistance as described above.

IFC will provide its internal resources and expertise and will provide international and local experts to carry out the above mentioned activities. It will also cover expenses related to activities mentioned in the components of this Project listed in Section II above, including IFC experts’ fees, translation of the [law] [decree] [regulation] and other administrative expenses of the workshop organization.

IV. [COUNTERPART] RESPONSIBILITIES AND RESOURCES

[Counterpart] is the [Country] Government partner to cooperate with IFC in this project.

[Counterpart] shall make its best efforts to ensure timely and full implementation of the project and provision of local support, including;

(i) Obtaining all approvals as may be necessary;

(ii) Making drafting committee members and other resources available for consultations and meetings with IFC; (iii) Making relevant laws and regulations available for IFC’s comments as requested and necessary;

(iv) Coordinating with related Departments within the [Counterpart] and other relevant external agencies, Ministries and government bodies; and

(v) Providing organizational, logistical and other in kind support in organizing the meetings and consultation workshop.

[Counterpart] shall be independently responsible for paying its respective staff members dedicated to this Project.

V. CONFIDENTIALITY AND ACCURACY

1. Both IFC and [Counterpart] shall maintain in confidence all information provided to the other party during this Project.

2. During this assignment, IFC hereby represents that it will carry out its obligations under the Agreement with competence, care and diligence. However, IFC shall not assume responsibility for the accuracy or completeness of its support in relation to this Project, or in any other manner.

VI. SPECIAL CONDITIONS AND DISPUTE RESOLUTION

[Counterpart] and IFC hereby commit to cooperate on a basis of mutual understanding and respect, and agree to facilitate open and ongoing dialogue between the two parties while making adjustments as needed. In the event that a dispute arises out of or in connection with the implementation of this Agreement, it shall be resolved through friendly consultations. Should consultations fail to amicably resolve such a dispute, either party shall be entitled to discontinue the performance of their services by the provision of thirty (30) days prior written notification to the other party.

VII. NON-BINDING

The parties hereby acknowledge and agree that this Memorandum is not legally binding. It is not the parties’ intention to create, and nothing herein shall be construed as creating, legal rights and obligations or any commitment whatsoever. Each party shall have the discretionary right to terminate at any time any discussion whatsoever regarding the Project or this Memorandum.

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed in their respective names as of the date first above written.

[COUNTERPART]

By: _________________________________________ Name:

Title:

INTERNATIONAL FINANCE CORPORATION

By: _________________________________________ Name:

Annex 5: The World Bank Principles for Effective