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Highlights – Board Meeting of 11 December 2018 - 10 am


Management presented to the Board the main changes to the 2019-2021 Budget and Work Programme document following the Committee of the Whole meeting of 22 November 2018. These changes include a budget increase by 1.75% instead of 3.02%, and the freezing of the request for 50 additional positions pending the adjustment of those that are vacant. The Chairs of AUFI and CODE recommended that the work programmes and budgets of PAGCL, PIAC and BDEV be approved. The majority of Executive Directors congratulated Management for the new version of the document, which is more coherent, and for the efforts to propose a more moderate budget increase, especially in the current context of a request for a General Capital Increase. They nevertheless expressed concerns about the ADF lending targets, which are still too limited and below 100%, as well as the number of vacant positions and consultants, which is still too high. They called on Management to speed up the decentralization and to focus on interventions in support of fragile states. Finally, Executive Directors requested Management to fence out the AIF budget, pending discussions on the 2019 edition, based on a detailed analysis of costs, expenses, results achieved and lessons learned from the 2018 edition. At the end of its deliberations, the Board approved the 2019-2021 Budget and Work Programme and requested the fencing out of the budget and resources allocated to the 2019 edition of the AIF.

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