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BP 10.21, Annex F - Disbursement under Ozone Projects Trust Fund Grant Agreements


These policies were prepared for use by World Bank staff and are not necessarily a complete treatment of the subject.
BP 10.21 - Annex F
January, 1993
 

Note: This Bank Procedure Annex was revised on April 2013 to take into account the recommendations in “Investment Lending Reform: Modernizing and Consolidating Operational Policies and Procedures” (R2012-0204 [IDA/R2012-0248]), which were approved by the Executive Directors on October 25, 2012. As a result of these recommendations, OP/BP 10.00, Investment Project Financing, have been updated, and OP/BP 6.00, Bank Financing, have been retired (among other changes). This BP Annex has consequently been updated to reflect these two changes.

Revised April 2013
 
 
1. Disbursement categories for Montreal Protocol operations under Ozone Projects Trust Fund Grant Agreements are limited to the following:

(a) goods, works, and services financed under subgrants;1

(b) goods and services financed under institutional strengthening components; and

(c) financial agent fees.

2. As is standard Bank practice, disbursement percentages are set in a manner that is consistent with Bank practice for loans/credits in the country.2

3. To make funds available for disbursement from the subgrant category, the task manager (TM) assigns to each subproject a subgrant number3 and allocates an amount of funding (in U.S. dollars) up to the total amount approved for the subproject. The TM communicates this information to the grant recipient in the telex approving the subproject, and sends a copy of the telex to the finance officer. The finance officer then makes disbursements against withdrawal applications submitted by the recipient evidencing eligible expenditures under the relevant subproject.

4. The Loan Disbursement System tracks disbursements against each of the disbursement categories listed in para. 1 (not against specific subgrants). The TM ensures that the recipient tracks subgrant disbursements in accordance with the provisions of the relevant legal documents, so that Implementation Completion Reports can document total costs paid out for each individual subproject.

 
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  1. The Bank disburses against expenditures on goods, works, and services, and not against subgrants per se. Expenditures under this category might include purchases of equipment and technology required for reducing or eliminating the beneficiaries' use of ozone-depleting substances, construction of buildings, or consultant services provided to the subgrant beneficiaries.
  2. For countries for which the Bank has established country financing parameters, see BP 10.00, Investment Project Financing and internal guidance. For countries for which the Bank has not yet established country financing parameters, see the Operational Memorandum  Specific Expenditure Eligibility and Cost Sharing Requirements for Investment Projects in Countries Without Approved Country Financing Parameters.
  3. The TM may need to consult with the finance officer on a suitable numbering system.
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BP 10.21 - Investment Operations Financed by the Multilateral Fund for the Implementation of the Montreal Protocol



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