For the World Bank Iraq Trust Fund
Potential recipients, in consultation with World Bank staff, submit their program and project proposals to the Iraqi Strategic Review Board (ISRB), which reviews them to ensure that they are in the Iraqi priority program.
Successful proposals are processed from proposal to project stage under the World Bank expedited guidelines. Negotiations are then conducted between the World Bank ITF and the Iraqi implementing agency, and a Grant Agreement signed between these two parties to govern the use of grant.The Grant Agreement specifies the fiduciary requirements as well as performance indicators to ensure that funds are spent for the purposes intended.
For the UNDG Iraq Trust Fund
The Fund is to be used for the purpose of meeting the costs of the projects executed by participating UN organizations. Based on the Needs Assessment and Iraqi priorities and plans, the UNDG, in consultation with the Iraqi authorities, develops a costed program of support. Projects that are normally part of this program are first approved by the Iraqi Strategic Review Board, and subsequently approved by the UNDG Trust Fund Steering Committee : United Nations Development Group Grant Funding Process
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