The GEF Trustee Intro to the GEF Training May

Transcript:The GEF Trustee Intro to the GEF Training May:
The GEF Trustee Intro to the GEF Training May 28-29, 2015 Trust Funds and Partnerships (DFPTF) Development Finance (DFi) 2 Presentation Outline GEF Governance Structure Roles and Responsibilities of the Trustee The GEF Funds Flow Financial Procedures Agreement Reporting Requirements under the FPA GEF Trustee Team GEF Governance Structure World Bank as Trustee for GEF Trust Fund World Bank UNDP UNEP STAP GEF Council Implementing Agencies GEF Secretariat at World Bank (functionally independent) I. The Role of the Trustee Accountable to the Council Holds in trust the assets which constitute the Fund Several World Bank departments involved (DFPTF, CTR, LEG, TRE) Administers the Fund in accordance with the provisions of the Instrument Cooperate and coordinate Roles and Responsibilities of the Trustee Trustee’s role and fiduciary responsibilities are set forth in the GEF Instrument, Annex B. 4 5 The GEF Funds Flow [for Full size Project] Transferred to Agencies Replenishment and Contribution Management Funding Decisions Implemen-tation Funding Availability for programming decision Financial Procedures Agreements A set of legal documents governing the business relationship between the IBRD as the Trustee of the GEF Trust Fund and the GEF Agencies, setting definitions and rules for: Commitment of funds by Trustee Amount, date of Council approval/CEO endorsement Letters of Commitment Setting financial liability for Agencies including adjustments for cancellation and closed projects and fees Transfer of funds to GEF Agency Use of funds by GEF Agency In accordance with Agency’s policies and procedures Trustee is not responsible for use of funds by Agency Reflows from GEF Agency to the Trustee Investment income arrangements Reporting requirements (Quarterly, Semi-annual and Annual) Reporting Requirements under the FPA Section 12.2- Information provided to the Trustee are as follows: (a) Quarterly Report on Agency Approvals (b) Quarterly Report on Agency Project Cancellations (c) Quarterly Report on Agency Fee Cancellation (d) Quarterly Report on Financially Closed Projects (e) Quarterly Report on Reflows of Funds (f) Investment Income Report for the Semester (g) Annual Financial Statement (h) Other reports as my be requested by Trustee Section 12.3 – Annual Reconciliation Report will be provided by Trustee to the Agency for Agency’s conformity within 45 days after receipt of the report. In the event of discrepancy, Agency must inform Trustee and reconcile the information contained in the report. 7 GEF Trustee Team Team Lead – Client relations and Fund management: Mr. Praveen Desabatla (pdesabatla@worlbank.org) Portfolio management, Analytics and Reporting: Mr. Chandrasekhar Sirigiri