Board Decisions

GF/B23/DP04


Approved by the Board on:
12 May 2011


High-Level Independent Review Panel

The Board approves the establishment of a High-Level Independent Review Panel on fiduciary controls and oversight mechanisms under the Terms of Reference contained in Annex 1 to the document entitled "High-Level Independent Review Panel on the Fiduciary Controls and Oversight Mechanisms" (GF/B23/21).

The Board notes that the estimated cost of the High-Level Independent Review Panel is approximately USD 2.2 million for consultancy fees and costs associated with travel and meetings. The Board delegates the Finance and Audit Committee (FAC) to consider and approve the High-Level Independent Review Panel budget within the framework of the 2011 administrative budget review, which is scheduled for June 2011.


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