11.1 Implementing Agency will hold monthly meeting and send report quarterly to the PPP Unit with brief description of the causes of slippages or non-compliances of VGF requirement schedule as stipulated in the concession contract.
11.2 The Lead Financial Institution shall also be responsible for regular monitoring and periodic evaluation of project compliance with agreed milestones and performance levels, particularly for the purposes of disbursing the VGF. It shall also send a quarterly progress report to the Implementing Agency, Line Ministry, PPP Office and PPP Unit of Finance Division.
11.3 The PPP Unit will review and evaluate the reports received from Implementing Agency and Lead Financial Institution and assess compliance and performance levels set forth in the VGF Agreement and give necessary directives to all concerned.