the gef trustee and its financial operations...fifs 1 dfi 1 the gef trustee and its financial...
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FIFs
1 1DFi
The GEF Trustee and its Financial Operations
GEF Introduction SeminarJanuary 22-24, 2019
Trust Funds and Partner Relations (DFTPR)Development Finance (DFi)
GEF Trustee and its Financial Operations
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FIFs
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Overview
ROADMAP
02 Trustee Roles and Responsibilities
01 GEF Governance and Structure
03 Funds Flow for Full-sized Project and Fee
04 Financial Procedures Agreement
05 GEF Trustee Team
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FIFs
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GEF Governance and Structure
Agencies• UNDP• UNEP• WB• ADB• AfDB• EBRD• FAO• IaDB• IFAD• UNIDO• WWF-US• CI• IUCN• DBSA• BOAD• CAF• FECO• FUNBIO
GEF Secretariat
STAP
Evaluation Office
ProjectsCountries:• GEF OFPs / PFPs• Convention FPs• Other Gov’t Agencies• NGOs / CSOs• Private Sector
GEF CouncilCountries: Council Members
/ Constituencies
GEF Assembly
Conventions• CBD• UNFCCC• Stockholm (POPs)• UNCCD• Montreal Protocol• Minamata
Guidance Operations Action
GEF Trustee
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Annex B of GEF
Instrument
• Trustee’s role and fiduciary responsibilities are set forth in the GEF Instrument, Annex B.
Resource mobilization
• Trustee co-chairs the GEF Replenishment negotiations for mobilizing resources through the established replenishment process
Investment of its liquid
assets
• Manages the liquid assets the GEF Trust Fund and invests according to the IBRD’s investment management principles, in a commingled investment portfolio
Financial management
• Trustee holds funds in trust and manages them for the purpose provided under the GEF Instrument
Trustee Roles and Responsibilities
Reporting and compliance
• Ensure compliance with Instrument and other legal documents
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$1 billion
1991 $20 billion
2019
GEF Pilot
Resource Mobilization
As of GEF-7
30 donors pledged $4.1 billion in GEF-7
Trustee Roles and Responsibilities
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Trustee Roles and Responsibilities
Contributions
Investments
Recording and monitoring
Financial Projections
Fund transfers
Financial Management
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Trustee Roles and Responsibilities
Reporting and Compliance
GEF Council
GEFSEC
Agencies
WB External Auditors
WB Policies & Procedures
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FRAGMENTATION & CUSTOMIZATION
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Funds Flow for Full-sized Project and Fee
Returned Funds from Agencies
Released from Commitment
Release from set-aside
Transferredto Agencies
Funding Committed for projects
and fees
Funding Endorsed
by CEO
Funding Set aside for
projects; and fee
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 Implementation
Funding Availability for programming
decision
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TRANSACTION COSTS
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Financial Procedures Agreement
Legal document governing the business relationship between IBRD as Trustee of the GEF Trust Fund and the GEF Agencies setting the definitions and rules for:
Commitment of funds by TrusteeTransfer of funds to GEF Agency
Use of funds by GEF AgencyReflows vs. Refund from GEF Agency to the Trustee
Financial reporting by Agency
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TRANSACTION COSTS
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Financial Procedures Agreement
Investment income, refunds from closures, reflows from Non-Grant Instruments
Annual financial statements and audit reports
Fee cancellations
Project approvals, cancellations and closures
Reporting requirements under the FPA
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TF INTEGRATION INTO ANNUAL PLANNING
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GEF Trustee Team
Team Lead – Client relations and Fund management:• Mr. Praveen Desabatla ([email protected])Contribution management and Agency liaison:• Ms. Marizmelda Carbonell Dugayo
([email protected])• Mr. Jorge Alberto Fuentes Lanza
([email protected]) Investment management• Mr. Rahul Gupta ([email protected]) Disbursement management and Internal Controls:• Ms. Lewam Afework Nerayo ([email protected])Portfolio management, Analytics and Reporting:• Mr. Chandrasekhar Sirigiri ([email protected])
Reach us at [email protected]
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Thank you