Approved by the Board on: 16 December 2005
Decision Point 1:
The Board authorizes the Secretariat to extend the Phase 2 term of Grant Agreements by up to six months, without committing any additional funding, in circumstances where the Principal Recipient is prevented, due to exceptional circumstances, from using the full amount of Grant funds during the Phase 2 term.
Decision Point 2:
The Board decides that in circumstances where the term of a Phase 1 Grant Agreement has been extended in accordance with paragraph 4 of the Phase 2 Decision-Making Policies and Procedures attached as Annex 1 of the Report of the Portfolio Committee (GF/B12/6) (a "Phase 1 Extension"), the Secretariat may extend the Phase 2 term of Grant Agreements by up to an equal length of time as the Phase 1 Extension without committing any additional funding.
The Secretariat shall inform the Board immediately upon taking action under Decision Point 1 and 2.