Notes the proposed Administration Agreement between the World Bank and the Global Fund for the Performance Based Funding project in the Democratic Republic of Congo, as presented in GF/B37/03- Revision 1 (the “Administration Agreement”);
Acknowledges the Administration Agreement does not provide the Global Fund the right of access to books, records, personnel or sites relating to the Performance Based Funding project, including as required under the Board-approved Charter of the Office of the Inspector General; and
Acknowledges that, accordingly, the Office of the Inspector General will not be able to provide the Board with assurance, whether through audit or investigation work, on the funds disbursed under the Administration Agreement.
Based on the recommendation of the Audit and Finance Committee, the Board authorizes the Secretariat to enter into the Administration Agreement with the World Bank for the Performance Based Funding project in the Democratic Republic of Congo in accordance with the financial and programmatic terms presented in GF/B37/03-Revision 1.
However, the Board confirms that this decision does not set a precedent for future investments with development partners or for existing relationships with partners and requests the Secretariat develop a framework to guide future consideration of such investments for presentation to and review by the Audit and Finance Committee, in consultation with the Strategy Committee, for recommendation to the Board.