On March 31, 2012, the World Bank rolled out new procedures for the processing of Small Grants below US$5 million financed by recipient-executed Trust Funds. This is part of the Trust Fund Reform Roadmap which aims to streamline and harmonize business processes for managing Trust Funds. The PHRD Program is fully aligned with the Small Grants Guidelines and Procedures.
For the purpose of monitoring the development outcomes, the Grant Agreement - based on the Grant Funding Request - is the binding document. The Task Team Leader (TTL) is responsible for preparing an annual grant status report as follows:
Grants prepared prior to March 31, 2012: The Task Team should use the Grant Reporting and Monitoring (GRM) system to report implementation progress, and documenting the completion of deliverables and outputs. For grants over US$1 million, an Implementation Completion Memorandum (ICM) will be prepared at completion of the grant financed activities. For grants under US$1 million, the final Grant Status Report will include additional information regarding grant activity outcomes.
Grants prepared after March 31, 2012: The Task Team should use the Implementation Status Report (ISR) system in Project Portal. At completion, the Task Team will use the Implementation Completion Report (ICR) system in the Portal to report on project outcome and impact.
In addition on reporting on individual project, the World Bank conducts annual reviews to provide feedback from grant implementation that could lead to program improvements and to allow for extended reporting on the results of the completed grants.