GF/B51/EDP13
Approved by the Board on: 05 November 2024
Increasing the Grant Cycle 7 Emergency Fund
The Board:
- Recalls its decision to delegate authority to the Secretariat to increase the amount allocated to the grant cycle 7 Emergency Fund catalytic investment priority for the 2023-2025 allocation period by up to 50% of the amount approved for this priority, pursuant to decision point GF/B47/DP06 (May 2022), using funding made available by the Audit and Finance Committee for portfolio optimization;
- Acknowledges the need for additional funding above the delegated authority of 50% of the approved priority amount of US$12 million;
- Approves the reallocation of US$30 million, from portfolio optimization funds approved by the Audit and Finance Committee, pursuant to decision point GF/AFC26/EDP01 (October 2024), to the Emergency Fund; and
- Reaffirms its commitment to ensure that the Emergency Fund has sufficient funding to respond swiftly to current and future emergency needs within the Global Fund portfolio.
Budgetary Implications
Budgetary implications (included in, or additional to, OPEX budget): US$30 million, funded from available sources of funds identified by the Audit and Finance Committee under GF/AFC26/EDP01.