Trustee and Financial Operations

Report
The GEF Trustee
Intro to the GEF Training
October 23, 2014
Trust Funds and Partnerships (DFPTF)
Development Finance (DFi)
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
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GEF Governance Structure
GEF Council
Accountable to
the Council
Holds in trust the assets
which constitute the Fund
GEF Secretariat at
World Bank
(functionally independent)
World
Bank
UNDP
Implementing
Agencies
UNEP
STAP
I. The Role of the Trustee
World Bank as Trustee
for GEF Trust 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.
Resource Mobilization
• Resource mobilization –
Replenishment
Financial management
Reporting and Compliance
• 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.
• 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.
4
The GEF Funds Flow [for Full size Project]
Implementation
Funding Decisions
Replenishment and
Contribution Management
Returned Funds from Agencies
Released from Commitment
Release from set-aside
“Pledge”:
Recorded
“Billing”:
IoC
deposited
with Trustee
Cash received
(USD)
Note
Note
received encashed
Funding
Availability
for
programming
decision
Funding
Approved
by
Council
Funding Set
aside
by
Trustee
Funding
Endorsed
by
CEO
Funding
Committed
by
Trustee
Restricted
resources
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Transferred
to
Agencies
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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