Board Decisions

GF/B48/DP04

Approved by the Board on: 16 November 2022

Sources and Uses of Funds for the 2023–2025 Allocation Period

1. Based on the recommendation of the Audit and Finance Committee (AFC), as presented in GF/B48/03A – Revision 1, the Board approves US$ 12.903 billion as sources of funds for allocation for the 2023-2025 allocation period. The total amount of sources of funds for allocation comprises, in accordance with the Comprehensive Funding Policy set forth in Annex 1 to GF/B36/02 – Revision 1 and approved through decision point GF/B36/DP04:
   1. US$ 13.678 billion, derived from the announced replenishment results for the Seventh Replenishment, net of adjustments;
   2. US$ 0.250 billion of forecasted unutilized funds from the 2020-2022 allocation period; and
   3. a deduction of US$ 1.025 billion of forecasted aggregate operating expenses for the 2023-2025 allocation period.
2. Based on the recommendation of the Secretariat to supplement the recommendation of the Strategy Committee, as presented in GF/B48/03A – Revision 1, the Board approves the use of an additional US$ 0.200 billion for catalytic investments for the 2023-2025 allocation period, bringing the total amount, from sources of funds for allocation, for catalytic investments for the 2023-2025 allocation period to US$ 0.400 billion, to be made available for the priorities and associated costs set forth in Annex 1 of GF/B48/03A- Revision 1, and based on the recommendation of the Secretariat, the Board approves updating the delegated authority to the Secretariat established in paragraph 7 of GF/B47/DP06 so that the Secretariat may increase the amount of funding available for the Emergency Fund by up to an additional US$ 0.020 billion, using funding approved as available by the AFC for portfolio optimization.
3. Additionally, based on the recommendation of the AFC and to help ensure the maximum amount of impact and use of funds over the 2023-2025 allocation period, the Board requests that the Secretariat include an additional US$ 0.625 billion in the amount used to determine country allocations pursuant to the allocation methodology for the 2023-2025 allocation period in accordance with decision point GF/B47/DP05 (Allocation Methodology).
4. Accordingly, the Board approves that the amount of sources of funds for country allocations for the 2023-2025 allocation period is US$ 12.503 billion, to which US$ 0.625 billion will be added prior to determining the country allocation, for a total of US$ 13.128 billion, to be used in accordance with the Allocation Methodology and decision point GF/B47/DP05.