The Commission shall be empowered to agree with the authorities of Georgia, after consulting the Economic and Financial Committee, the economic policy and financial conditions attached to this assistance, to be laid down in a Memorandum of Understanding. These conditions shall be consistent with the agreements reached between the IMF and Georgia.

During the implementation of the Community assistance, the Commission shall monitor the soundness of Georgia’s financial circuits, administrative procedures and internal and external control mechanisms which are relevant to this Community macro-financial assistance.

The Commission shall verify at regular intervals that the government’s economic policies are in accordance with the objectives of this assistance and that the agreed economic policy and financial conditions are being fulfilled.