Artikel V

Section 1. Separation of Accounts. The Bank shall keep separate accounts and records of the resources and operations of the Fund, and the Small Enterprise Investment Fund referred to in Article III, Section 2(b) of the MIF II Agreement (the ‘‘SEIF’’), in such a way as to permit the identification of the assets, liabilities, income, costs and expenses pertaining to the Fund, and the SEIF, separate and independent of all other operations of the Bank. The accounting system used shall also permit the identification and recording of the origin of the various resources received by virtue of this MIF II Administration Agreement and the funds generated by them, as well as their application. The books of the Fund shall be kept in dollars of the United States of America, for which purpose translations between currencies shall be made at the rate of exchange in effect and used by the Bank at the time of each transaction.
Section 2. Reporting. a) As long as the present MIF II Administration Agreement shall remain in force, the Administration of the Bank shall present the following information each year in an annual information statement to the Donors Committee within 90 days after the close of its fiscal year: (i) a statement of assets and liabilities of the Fund and the SEIF, a statement of cumulative receipts and expenditures to the Fund and the SEIF and a statement of the origin and use of resources of the Fund and the SEIF, with such explanatory notes as may be pertinent;
(ii) information on the progress and results of the projects, programs and other operations of the Fund and the SEIF and on the status of applications presented to the Fund and the SEIF; and
(iii) information on the results of Fund operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement.
(i) a statement of assets and liabilities of the Fund and the SEIF, a statement of cumulative receipts and expenditures to the Fund and the SEIF and a statement of the origin and use of resources of the Fund and the SEIF, with such explanatory notes as may be pertinent;
(ii) information on the progress and results of the projects, programs and other operations of the Fund and the SEIF and on the status of applications presented to the Fund and the SEIF; and
(iii) information on the results of Fund operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement.
b) The statements referred to in paragraph (a) of this Section shall be prepared according to the accounting principles used by the Bank in its own operations, and shall be presented together with an opinion issued by the same independent firm of public accountants as designated by the Board of Governors of the Bank for the auditing of the financial statements of the Bank. The fees of the independent firm of accountants shall be charged to the resources of the Fund.
c) The Bank shall produce an annual report and quarterly reports containing information with respect to the receipts and disbursement of, and balances in, the Fund and the SEIF.
d) The Donors Committee may also require the Bank, or the firm of public accountants referred to in paragraph (b), to provide other reasonable information concerning the operations of the Fund and the audit statements presented.
e) The SEIF shall be accounted for separately from other resources of the Fund.