(Deferred) Agree that Board commitments should be fully covered by pledges, with agreement by donors that pledges for a given calendar year are callable on demand following commitments made in that or subsequent years.
(Deferred) Agree that signed Grant Agreements should be fully covered by cash assets received in the Trustee Account, implying that payment of any unpaid pledges made for a current or previous calendar year must rapidly follow commitments.
(Not approved) Endorse the financial targets and instruct the Executive Director and the proposed Board Resource Mobilization standing committee to pursue a corresponding resource mobilization strategy.
In 2003, a total of USD 2.5 billion is the minimum needed to make commitments to high-quality proposals anticipated in Rounds Two and Three. This requires USD 1.6 billion of new pledges and payments in addition to payment of outstanding pledges for 2002 (equal to 90 million) and current pledges for 2003 (equal to 305 million).
In 2004, approximately USD 3.8 billion is needed to make new commitments to high-quality proposals anticipated in Rounds Four and Five. New pledges of USD 3.5 billion are required in addition to payment of current pledges earmarked for 2004 (equal to 305 million).