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  • Closed Compact Report:  Closed Compact Report: Georgia Compact
  • June 2023

Key Conditions Precedent

Key Conditions Precedent (CP)
Key Compact Component(s) Major CP or Policy Reform Required Rating: Met on Time/Deferred/Met Late/Not Met
Regional Infrastructure Rehabilitation Project, Energy Rehabilitation Activity Prior to the first disbursement for Pipeline rehabilitation, the Ministry of Energy will provide documentation satisfactory to MCC outlining the Ministry’s plans and strategy for resolving the following four issues currently facing GGIC: (A) Kazbegigazi non-payment to GGIC; (B) Tbilgazi non-payment to GGIC; (C) Physical gas losses by GGIC; and (D) GGIC’s tax liabilities. Met on time
Regional Infrastructure Rehabilitation Project, Energy Rehabilitation Activity Prior to any disbursement for the Project Activity after the initial disbursement MCC is satisfied that the Government has developed and is maintaining a continuing Pipeline rehabilitation program, if applicable utilizing operating cash flow and carbon credit financing, as applicable. Met on time
Regional Infrastructure Rehabilitation Project, Energy Rehabilitation Activity MCC is satisfied that GOGC maintains a collection rate (defined as the percentage of sales collected for all services provided in the form of cash payments (which cash receipts may include proceeds from the sale of gas taken as payment in kind for transmission services)) of at least 95% for each of the two immediately preceding consecutive calendar quarters. Based on ITT, exceeded
Regional Infrastructure Rehabilitation Project, Regional Infrastructure Development Activity Prior to any semi-annual disbursement for the Project Activity, starting in Year 2 MCG provides confirmation that any Government commitment(s) to support Operations & Maintenance or debt service (as applicable) on completed projects are being honored, to the satisfaction of MCC. Met on time
Regional Infrastructure Rehabilitation Project, SJRR Prior to initial disbursement for the Project Activity in any fiscal year, MCG provides evidence that (i) the national budget for routine and periodic maintenance for the maintainable road network has been approved for the forthcoming fiscal year at the levels stipulated in Compact Schedule 1, § 6 (a)(i)(3), (ii) the amounts budgeted for routine and periodic maintenance in the prior fiscal year have been expended for the intended purpose and (iii) that any shortfall in the road maintenance budget from the prior fiscal year has been made up in the budget of the current fiscal year. Met on time
SJRR Prior to any disbursement for construction on any road segment in Year 4 or Year 5, MCG provides evidence that the Road Department is conducting maintenance—including routine, emergency, and winter maintenance—on previously completed Road segments in accordance with measurable performance standards acceptable to MCC Met on time