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The GEF Trustee

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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The GEF Trustee

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  1. The GEF Trustee Intro to the GEF Training October 23, 2014 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

  3. 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

  4. Roles and Responsibilities of the Trustee • Trustee’s role and fiduciary responsibilities are set forth in the GEF Instrument, Annex B.

  5. 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

  6. 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)

  7. 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.

  8. GEF Trustee Team Team Lead – Client relations and Fund management: • Mr. Praveen Desabatla (pdesabatla@worlbank.org) Portfolio management, Analytics and Reporting: • Mr. Chandrasekhar Sirigiri(csirigiri@worldbank.org ) Contribution management and Agency liaison: • Ms. MarizmeldaCarbonell Dugayo (mdugayo@worldbank.org) Disbursement management and Internal Controls: • Ms. LewamAfeworkNerayo (lnerayo@worldbank.org) Operational Support • Ms. RahayuNovianty (rnovianty@worldbank.org)

  9. Questions We welcome your questions.

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