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The GEF Trustee. Intro to the GEF Training October 23, 2014 Trust Funds and Partnerships (DFPTF) Development Finance ( DFi ). Presentation Outline. GEF Governance Structure Roles and Responsibilities of the Trustee The GEF Funds Flow Financial Procedures Agreement

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Presentation Transcript
the gef trustee

The GEF Trustee

Intro to the GEF Training

October 23, 2014

Trust Funds and Partnerships (DFPTF)

Development Finance (DFi)

presentation outline
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
GEF Governance Structure

GEF Council

Accountable to the Council

Holds in trust the assets which constitute the Fund

Several World Bank departments involved (DFPTF, CTR, LEG, TRE)

World Bank as Trustee for GEF Trust Fund

GEF Secretariat at World Bank(functionally independent)

Administers the Fund in accordance with the provisions of the Instrument

World Bank

UNDP

UNEP

Implementing Agencies

STAP

Cooperate and coordinate

I. The Role of the Trustee

roles and responsibilities of the trustee
Roles and Responsibilities of the Trustee
  • Trustee’s role and fiduciary responsibilities are set forth in the GEF Instrument, Annex B.
the gef funds flow for full size project
Cash received (USD)

Returned Funds from Agencies

Released from Commitment

Release from set-aside

“Billing”: IoC deposited with Trustee

Funding Approvedby Council

Funding Endorsed by CEO

Funding Committed

by

Trustee

“Pledge”: Recorded

Funding Set aside by Trustee

Note received

Note encashed

Restricted resources

The GEF Funds Flow [for Full size Project]

Implemen-tation

Funding Decisions

Replenishment and Contribution Management

Transferred

toAgencies

Funding Availability for programming decision

financial procedures agreements
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
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.

gef trustee team
GEF Trustee Team

Team Lead – Client relations and Fund management:

Portfolio management, Analytics and Reporting:

Contribution management and Agency liaison:

Disbursement management and Internal Controls:

Operational Support

questions
Questions

We welcome your questions.

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