Article 10 Foreign Exchange Provisions and Transfer of Funds

Article 10
Foreign Exchange Provisions and Transfer of Funds

10.1 The Russian Federation shall apply to the exchange, import and purchase of foreign currency necessary its national regulations in a non-discriminatory manner. In case of procedures in currencies other than Euro, the amount shall be converted to Euro using the exchange rate method mentioned in the Joint Operational Programme.

10.2 The Russian Federation and the Member State shall undertake measures to facilitate any beneficiary (public or private), or contractor, in their respective territories, where applicable, to:

(a) receive Programme funds for the purposes of the Programme/project and open specific bank accounts, including accounts in Euro;

(b) make payments as per grant contract requirements for the implementation of all activities necessary for the implementation of the project, including the possibility of the lead beneficiary to redistribute the grant amount to the other beneficiaries;

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	Agreement on Financing and Implementation of the Cross Border Cooperation Programme "Russia-Lithuania" 2014-2020