Artikel V

Section 5.01. The Administrator shall, on behalf of the Contributing Parties and in accordance with this Agreement and the Project Agreement, supervise the execution of the Project (including the procurement of the goods and coordination of implementation of the parts of the Project financed out of the Fund and the parts of the Project financed out of the bilateral loans), administer the Fund and coordinate the performance by the Parties of their respective obligations under this Agreement and the Project Agreement.
Section 5.02. The Administrator shall, within thirty (30) days after 30 June 1974 and after each 30 June and 31 December there after, send to each of the Contributing Parties, the Bilateral Lenders and Laos, a report containing appropriate information with respect to the receipts and disbursements of, and balances in, the Fund, the progress of the Project, and other matters relating to the Fund, the Project, this Agreement and the Project Agreement.
Section 5.03. The Administrator may, but shall not be obliged to, deposit and invest the Fund, or any part of it, pending disbursement, in such manner as it shall deem appropriate. Except as any Contributing Party shall otherwise specify to the Administrator in respect of income derived from deposit and investment of the contribution of such Party, the income from deposit and investment of the Fund, after deduction of expenses relating to such deposit and investment, shall be held and administered by the Administrator, on behalf of Laos, as part of the assets of the Fund.
Section 5.04. Whenever it shall be necessary for the purposes of this Agreement to value one currency in terms of another currency, such value shall be as reasonably determined by the Administrator in accordance with the Bank's usual procedures.
Section 5.05. The Administrator shall not be liable for any losses, resulting from fluctuations in exchange rates, sustained by the Fund on sales and purchases of different currencies.
Section 5.06. The Bank, in acting as Administrator, shall exercise the same care in the management and administration of the Fund, and in the discharge of its other functions under this Agreement and the Project Agreement, as it exercises in respect of the management and administration of its own affairs.
Section 5.07. (a) The Administrator shall receive no compensation for services rendered by it under this Agreement but shall be reimbursed out of the Fund for all expenses incurred by it in performing such services, including an appropriate portion of its overhead administrative expenses.
(b) The Administrator shall compute such expenses and reimburse itself therefor out of the Fund semi-annually, provided that the first computation and payment shall be in respect of the period ending 30 June 1974. Notwithstanding any other provision of this Agreement, such expenses shall be charged semi-annually, first, to income of the Fund, and then, to all contributions to the Fund in proportion to such contributions.
(a) The Administrator shall receive no compensation for services rendered by it under this Agreement but shall be reimbursed out of the Fund for all expenses incurred by it in performing such services, including an appropriate portion of its overhead administrative expenses.
(b) The Administrator shall compute such expenses and reimburse itself therefor out of the Fund semi-annually, provided that the first computation and payment shall be in respect of the period ending 30 June 1974. Notwithstanding any other provision of this Agreement, such expenses shall be charged semi-annually, first, to income of the Fund, and then, to all contributions to the Fund in proportion to such contributions.
Section 5.08. Whenever the Administrator determines that special circumstances so require, it may make, or require or approve the making of, such agreement or arrangement with consultants, contractors and other entities as it shall consider desirable for carrying out the Project in the manner it deems to be the most efficient, expeditious and economical.