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WHAT ARE THE MECHANISMS FOR ENSURING EFFECTIVE FIDUCIARY CONTROL BY ACBF?

April 26, 2017acbf CONTROL effective ensuring Fiduciary mechanisms

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WHAT ARE THE MECHANISMS FOR ENSURING EFFECTIVE FIDUCIARY CONTROL BY ACBF?

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Barring special arrangements that may be agreed to between the Foundation and a donor agency or country, all funds contributed to ACBF are managed by the World Bank, which serves as the trustee to the Foundation. The funds are held in a Trust Fund and made available to the Secretariat in line with its annual Business Plan that is vetted and approved by the Foundations Executive Board. All requests for funds from the Trust Fund by the Secretariat are supported by required documentation and adequately justified.