9. Completion Phase
Sections:
9.1. Repayment of Unused Funds and Interest
9.3. Notification of Completion
9.1. Repayment of Unused Funds and Interest
- Unused funds that total NOK 500 or more must be repaid to Norad as soon as possible, and at the latest six months after the end of the support period. The final financial report for the project must include an overview of any unused funds, including any accrued interest. Under co-funded agreements, Norad’s pro rata share of the total, unused funds must be repaid.
- Kindly mark the repayment with Norad’s agreement number, which you find on the grant agreement.
9.2. Final Report
- See also the section Annual Reports.
- The Final Report should normally focus more on the project’s effects on society (impact), lessons learned, cost efficiency and sustainability than Annual Reports do. Humanitarian assistance projects do not need to report on impact, nor focus as much on sustainability as is common in reports on longer-term development cooperation projects.
- Equipment and goods: Normally, the grant recipients and/or its sub-grantees are allowed to keep any equipment that has been procured with funds from the project. If the project activities do not continue after the end of the Support Period or after termination of the grant agreement, the grant recipient must inform Norad about the remaining equipment and goods. Norad may require that assets be sold and income repaid to Norad.
9.3. Notification of Completion
- When all obligations under a grant agreement have been fulfilled, including the repayment of unused funds, Norad will close the grant. A formal notification of completion of the agreement is normally sent to the grant recipient. The confirmation may be in the form of a letter or email.