The Board amends paragraphs (a) and (c) of decision point 3 under the Comprehensive Funding Policy approved at the Sixth Board Meeting as follows:
3. Proposals are approved for the entire term of the proposal (up to five years) with a financial commitment for the initial two years with the possibility of renewal for up to an additional three years, with the following conditions:
a. The Board may approve proposals and commit funds for two years up to the cumulative uncommitted amount of assets
pledged through the calendar year of the Board decision that the Board determines will be available at the time of signing the related grant agreements in accordance with 3(b);
b. A sufficient amount of assets to meet the full cost of two years of implementation of approved grants must be deposited with the Trustee or readily available on demand prior to the Secretariat signing a grant agreement;
c. Based on successful implementation of a grant, funding beyond its first 2 years receives priority over the funding of new proposals. A sufficient amount of assets to meet the cost of such additional funding for the grant must be deposited with the Trustee or readily available on demand prior to the Secretariat signing an amendment to the grant agreement committing such additional funding;
d. No funds for appeals should be reserved. Successful appeals should be funded immediately if resources are available or as soon as new resources become available.