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The GEF Trustee and its Financial Operations GEF EF Introduction S - - PowerPoint PPT Presentation
The GEF Trustee and its Financial Operations GEF EF Introduction S - - PowerPoint PPT Presentation
FIFs GEF Trustee and its Financial Operations The GEF Trustee and its Financial Operations GEF EF Introduction S Seminar January 2 22-24, 2019 2019 Trust F t Funds a and P Partn tner Rel elati tions (DFTPR) Devel elopmen ent F
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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
Projects
Countries:
- GEF OFPs / PFPs
- Convention FPs
- Other Gov’t Agencies
- NGOs / CSOs
- Private Sector
GEF Council
Countries: 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
- f 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
$ € ¥ £ ₱ ₣ Kr R
NZ$
C$
A$
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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
Transferred to 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 Trustee
- Transfer of funds to GEF Agency
- Use of funds by GEF Agency
- Reflows 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 (pdesabatla@worlbank.org)
Contribution management and Agency liaison:
- Ms. Marizmelda Carbonell Dugayo
(mdugayo@worldbank.org)
- Mr. Jorge Alberto Fuentes Lanza
(jfuenteslanza@worldbank.org) Investment management
- Mr. Rahul Gupta (rgupta11@worldbank.org)
Disbursement management and Internal Controls:
- Ms. Lewam Afework Nerayo (lnerayo@worldbank.org)
Portfolio management, Analytics and Reporting:
- Mr. Chandrasekhar Sirigiri (csirigiri@worldbank.org)
Reach us at geftrustee@worldbank.org
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