The Secretariat is authorized to extend a grant’s implementation period by a maximum of 12 months beyond the end date set forth in the relevant grant agreement:
When the extension does not require funding in addition to the amounts approved by the Board for such implementation period ; or
When any portion of the extension requires funding in addition to the amounts approved by the Board for such implementation period, provided the period of additional funding does not exceed six months and the amount of additional funding does not exceed USD 10 million.
Any other circumstances warranting an extension will be recommended by the Secretariat to the Board for approval.
The Secretariat will develop a framework for exercising the authority delegated under this decision, and report to the Board the extensions approved by the Secretariat under such authority through the monthly Grant Approvals Committee Report on funding recommendations.
The Secretariat will review the implementation of this decision and present any recommended modifications to the Strategy, Investment and Impact Committee for approval.
The Board also decides that as of the date of this decision, the extension framework adoptedunder this decision supersedes all prior policies and decisions concerningextensions whether in whole or with respect to relevant parts, including thefollowing Board Decision Points:
B24/EDP/5: Procedure forRolling Continuation Channel Mid-Term Performance Reviews and Extensions;