B.31/05: Institutional matters
The Board:
- Takes note that the current four-year term of the Trustee expires on [11 April 2023];
- Requests the Secretariat to undertake a review of the performance of the Trustee and the value for money of the services provided by the Trustee;
- Also requests the Secretariat to notify the Board promptly upon the completion of the review in order for the Board to approve the renewal ofthe Trustee arrangements;
- Confirms that once the Board renews the Trustee’s appointment, the Executive Director shall finalize the renewal of the term of the Trustee for a further four-year period, including by executing the necessary legal and administrative arrangements with the International Bank for Reconstruction and Developmentby the end of 2022, in a manner which ensures there is no discontinuity in trustee services;
- Decides that, in respect of subsequent renewals of the term of the Trustee, the Secretariat is authorized to review the performance of the Trustee over the relevant period and, unless considered unsatisfactory by the Secretariat, to further renew the term of the Trustee; and
- Also decides that in the event that:
- The Secretariat considers the outcome any of the reviews referred to in paragraph (e) above to be unsatisfactory;
- The Trustee wishes to materially deviate from the terms of reference of the Trustee as part of the renewal of term;
- The Trustee does not have an interest in continuing to provide trustee services to GCF; or
- The Secretariat and the Trustee are not able to conclude the necessary legal and administrative arrangements in a timely manner;