Program Monitoring Process
The Secretariat may visit the project locations, anytime after signing of the agreement up to one year after completion of the project in question, to ensure that the installation and use is compliant with the approved application. Such visit may be arranged with or without advance notice.
The Secretariat may conduct on-site checking to verify the project progress and results for individual projects.
Enterprise should complete the project within 6 months from the date of signing of the funding agreement with the Secretariat; and submit the completion report (a sample is at Annex C of the Guide to Application) within two months of completion of the project, including but not limited to the items below upon completion of the project:
- a summary of technologies adopted;
- statement as to any deviation from the project proposal approved by the VC; and
- benefits achieved under the project so far.
Notes for Auditors
Disbursement of Funds
The payment will be effected on a reimbursement basis upon the acceptance of the required completion reports and audited accounts. Disbursementwill be effected only after the funded enterprise has contributed funds for the project on a matching basis.
Applicants can refer to the Guide to Application for more details of project monitoring
- The Secretariat will inform applicants the vetting result within 90 working days after receipt of full information.
- In case of dispute over the vetting result, the Secretariat will arrange a review of the application by the VC in the subsequent VC meeting and notify the applicant the result of review within 30 working days after the VC meeting.
- The Secretariat will pay the approved funding on a reimbursement basis within 30 days after the acceptance of the Completion Report and Audited Accounts with all required documentary evidence.
(Position as at 31 March 2021)
||Total amount of approved funding