16 March 2021
Grant closure processes have significantly improved since 2016. Operational policies, IT systems and tools have been enhanced, and controls, monitoring, and accountability have been strengthened.
While the average grant closure time has reduced from 1,326 to 500 days, only 20% of grants are being closed within the required twelve months; most delays are due to administrative factors, however, with low financial risks. Simplification and prioritization could help shorten closure times further.
Secretariat calculations of outstanding cash balances on grants due for closure are materially accurate, however differences for certain grants could not be resolved due to limited information on opening cash balances.