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Financial Intermediary Fund Management Framework (English)

Financial Intermediary Funds (FIFs) are an important tool in the development finance toolbox, offering customized financing platforms for partnership programs and special financing mechanisms. FIFs are a type of trust fund (TF) for which the World Bank provides tailored administrative, operational, legal and financial services. Typically focused on vertical themes and launched at high-level, multilateral forums, FIFs provide the global development community with independently governed multi-contributor collaboration platforms, often in support of global public goods. Consistent with its feature of adaptability, the FIF portfolio is a highly diverse. The World Bank facilitates the establishment and operation of FIFs by offering a set of roles and responsibilities tailored to the circumstances of each FIF. The World Bank is a valued partner as trustee for FIFs, building on a well-established financial, investment management and accounting platform developed by the World Bank over the past two decades, and experienced specialized legal and treasury services. In addition, the World Bank is often host to the FIF secretariat and one of the implementing entities. The primary objective of this framework is to facilitate more effective World Bank Group engagement in global partnerships and financing mechanisms through FIFs, from theidea stage through their life cycle. The paper is organized as follows: Chapter 1 provides context for the framework. Chapter 2 presents the approach to strengthening selectivity and oversight at entry for potential new FIFs. Chapter 3 explains the World Bank Group roles and policies that will be clarified and improved for better risk management and partnership. Chapter 4 outlines processes to support World Bank Group life cycle management of its roles in FIFs and enhance awareness of FIFs as a portfolio. Chapter 5 concludes with next steps, including highlights of directives, procedures, and guidance notes that will be available for staff working on FIFs. The annex provides a set of background data and information on the current FIF portfolio.

Details

  • Document Date

    2019/06/04

  • Document Type

    Board Report

  • Report Number

    142210

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    World,

  • Region

    The World Region,

  • Disclosure Date

    2019/09/27

  • Disclosure Status

    Disclosed

  • Doc Name

    Financial Intermediary Fund Management Framework

  • Keywords

    Education for All Fast Track Initiative; Special Climate Change Fund; Quarterly Business and Risk Review; Institutional Strengthening and Capacity Building; conflict and violence; intergovernmental panel on climate change; Least Developed Country Fund; global response to climate change; access to genetic resources; multilateral development bank; Pilot Auction Facility; African Development Fund; Food and Nutrition Security; small island developing states; United Nations Environment Programme; long-term greenhouse gas emissions; Cost of Doing Business; climate-related hazard; heavily indebted poor country; Environmental and Social Safeguard; integrated coastal zone management; Policy and Procedure Framework; multilateral investment guarantee agency; Quality Education for All; impact of climate change; governing body; early warning system; global public good; Learning and Innovation Credit; nationally determine contribution; duplication of efforts; volume of transfer; influx of refugees; certified emission reduction; types of entities; disaster risk management; transfer of fund; commitment to education; international financial institution; credit rating agencies; credit rating agency; source of funding; lack of awareness; advance market commitment; financial management capacity; Water Resource Management; list of countries; international development community; special purpose fund; Accountability and Decision-Making; private sector resource; project preparation grant; lack of commitment; capacity building support; share of debt; exchange of information; access to fund; combination of factor; risk management service; short time horizon; evaluation of education; public health threat; service delivery agency; source of financing; exchange rate dynamic; amount of fund; loss of life; long-term private capital; effective risk management; degree of fragmentation; commitment of funds; private sector financing; innovative financing mechanism; access to capital; asset management services; global food security; inclusive economic growth; Principles and Criteria; health and nutrition; sources of fund; provision of information; international agricultural research; accrediting new institution; pay for performance; assessment of risk; exposure to risk; foreign exchange value; health sector activities; lump sum transfer; persistent organic pollutant; partnership program; multilateral fund; Donor Contribution; legal personality; administrative cost; recipient countries; internal review; potential conflicts; legal entities; financial risk; legal entity; global partnership; financial service; comparative advantage; transaction cost; woman entrepreneur; governance arrangement; bond issuance; global stock; financial mechanism; climate services; direct funding; environmental issue; legal owner; development partner; portfolio information; risk assessment; investment income; administrative budget; emergency financing; enhanced transparency; other development; reputational risk; multilateral creditor; National Institutions; global development; risk appetite; development cooperation; strategic investment; vaccine development; civil society; Natural Resources; treasury function; management oversight; Concept Development; financial innovation; limited capacity; adaptation action; Technology Transfer; financial procedure; innovative climate; global initiative; low risk; adaptation activities; fragile ecosystem; funds transfer; warning service; financial liability; operational risk; concessional financing; grant basis; project financing; international partners; secretariat services; extreme event; voluntary contribution; regional network; funding decision; transferring fund; reimbursable grant; floor price; nonprofit entity; mitigation actions; transition country; debt relief; capital subscription; international environmental; vulnerable communities; treasury services; central unit; medium firms; intergovernmental institution; Cash Transfer; ecosystem service

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Citation

Financial Intermediary Fund Management Framework (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/286451569595398435/Financial-Intermediary-Fund-Management-Framework