Fiduciary Standards

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December 20, 2018

Fiduciary Standards for GEF Agencies outlines a set of minimum fiduciary standards which the GEF Agencies must meet. The objective of the policy is to strengthen financial and programmatic accountability of the Agencies.

Fiduciary Standards:

Project/Activity Processes and Oversight

  • Project appraisal standards
  • Procurement processes
  • Monitoring and project-at-risk systems
  • Evaluation function

Governance Framework

  • External financial audit
  • Financial management and control frameworks
  • Financial disclosure
  • Code of ethics
  • Internal audit
  • Investigation function
  • Hotline & whistleblower protection
  • Anti-money laundering and combating the financing of terrorism 


Please also refer to GEF Agency and MOU and Financial Procedures Agreements