Board Decisions


Approved by the Board on: 06 May 2009

Review of Board Committee Structure

The Board adopts the model for restructuring the Board committees set out in the Report of the Policy and Strategy Committee (GF/B19/4) - the "PSC Report".

Accordingly, the Board decides:

1. to create an ad hoc committee of the Board for market dynamics, procurement, and commodities matters (the "Market Dynamics and Commodities Committee" or "MDC") with the terms of reference set out in document GF/B19/4 - Attachment 4 for the period up to the first Board meeting in 2011, when the Board will consider whether to continue the MDC's mandate. Membership in the MDC shall not count towards the two-committee limit set forth in Section 23 of the Board Operating Procedures. This committee will temporarily remove the Portfolio Committee's responsibilities in this area;

2. to continue the mandate of the AMFm Ad Hoc Committee for the AMFm Phase 1 Period;

3. to rename the Portfolio Committee the "Portfolio and Implementation Committee" (PIC); and

4. to approve the amendments to the Committee Rules and Procedures set out in document GF/B19/4 - Attachment 5.

The Board requests the Board Chair and Vice Chair to review prior Board decisions with a view to clarifying and, if necessary, re-assigning responsibilities among the Committees in line with this decision.

Budgetary Implications

The budgetary implications of this decision are estimated at approximately US$ 940,000 for a whole year and US$ 470,000 in 2009. The Secretariat will endeavor to absorb the incremental costs in 2009 by making commensurate savings within the approved budget.