Haiti Reconstruction Fund

Financing Arrangements

The HRF is a financial intermediary fund that is administered by IDA as Trustee and constitutes pooled contributions to provide grant financing for priority projects, programs and budget support for post-earthquake reconstruction and development.  Donors enter into an Administration Agreement with IDA as Trustee.  The Trustee, at the instruction of the HRF’s Steering Committee (see Section III), then enters into a Transfer Agreement with a Partner Entity to finance HRF activities.  The Trustee has no responsibility for the use of funds once transferred to the Partner Entity.  Partner Entities currently include the IDB, UNDP (through its Multi-Donor Trust Fund Office) on behalf of the UNDG organizations, and the World Bank.  Partner Entities will meet the fiduciary and management standards as required by the Steering Committee and Trustee.  Trustee consent is required for the addition of new Partner Entities.  Partner Entities will work with through one or more Implementing Agencies that are permitted by a Partner Entity’s rules and procedures to undertake reconstruction and development activities.  The flow of funds is depicted in Figure 1 below.