the gef trustee intro to the gef training may 28-29, 2015 trust funds and partnerships (dfptf)...
TRANSCRIPT
The GEF Trustee
Intro to the GEF Training May 28-29, 2015
Trust Funds and Partnerships (DFPTF)Development Finance (DFi)
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Presentation Outline
I. GEF Governance Structure
II. Roles and Responsibilities of the Trustee
III. The GEF Funds Flow
IV. Financial Procedures Agreement
V. Reporting Requirements under the FPA
VI. 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.
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Resource Mobilization
• Resource mobilization – Replenishment
Financial management
• Contribution management, implementation of GEF Replenishment, etc.
• Investment management of GEF resources held in trust.
• Financial projections and cash flow forecasting.
• Recording of funding decisions and monitoring of funding availability for GEF Trust Fund.
• Transfer of funds to agencies under provisions of FPA.
Reporting and Compliance
• Prepare semi-annual reports for Council on the financial situation of GEF Trust Fund.
• Prepare monthly reports for Secretariat on funds availability and the status of contributions paid-in.
• Coordinate external audit of the GEF Trust Fund and provide financial statements of the GEF Trust Fund.
• Provide input to GEF Business Plans and Budgets for submission to Council.
• Ensure compliance with Instrument and other legal documents.
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The GEF Funds Flow [for Full size Project]
Returned Funds from Agencies
Released from Commitment
Release from set-aside
Transferredto Agencies
Funding Committed
by Trustee
Funding Endorsed
by CEO
Funding Set aside
by Trustee
Funding Approved
by Council
Restricted resources
Cash received (USD)
Note received
Note encashed
“Billing”: IoC
deposited with Trustee
“Pledge”: Recorded
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.
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GEF Trustee Team
Team Lead – Client relations and Fund management:
• Mr. Praveen Desabatla ([email protected])
Portfolio management, Analytics and Reporting:
• Mr. Chandrasekhar Sirigiri ([email protected] )
Contribution management and Agency liaison:
• Ms. Marizmelda Carbonell Dugayo ([email protected])
Disbursement management and Internal Controls:
• Ms. Lewam Afework Nerayo ([email protected])
Operational Support
• Ms. Rahayu Novianty ([email protected])
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Questions
We welcome your questions.
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