Approved by the Board on: 06 May 2009
The Board affirms the importance of rapid grant signature and disbursement of approved funds as reflected in the target of 8 months for the 2009 Key Performance Indicator for the average time from Board approval to first disbursement. At the same time, the Board also recognizes the value of aligning disbursements with national cycles.
The Board delegates to the Secretariat the authority to set the starting date for Grant Agreements up to 18 months after Board approval of a proposal to align with national fiscal and programmatic cycles and support harmonization with existing Global Fund grants and other donor-funded programs. The starting date shall continue to be based on the timing of receipt by the Principal Recipient of the first disbursement of grant funds under a Grant Agreement.