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2010 Trust Funds Annual Report
The African Development Bank Group, in support of its mission to enhance sustainable economic development and reduce poverty on the Continent, promotes different types of partnerships and cooperation arrangements to mobilize resources. Trust Fund is one of the important vehicles to do so. In 2010, a total of UA1 46.87 million was mobilized from donors for bilateral and thematic funds. The Bank‘s three-year Technical Cooperation Fund Reform Program came to an end in September 2009. An independent evaluation of the Reform Program was initiated in 2010. The Reform aimed to simplify and standardize the policies and procedures for trust funds administration with a view to ensuring that the allocation of trust fund resources would be well aligned with the Bank‘s operational priorities. Key policy reforms included promotion of multi-donor thematic funds, phasing out of tied bilateral funds, introduction of a minimum standard administrative fee at 5 percent, and setting of minimum thresholds for new funds (US$1 million for single-donor funds and US$2 million for multidonor funds). Key process reforms included standardization of agreement templates, standardization of technical review process, institutionalization of annual work programming, establishment of an IT-based trust fund management system, and strengthening of the results-focus of trust fund operations. Significant progress towards implementation of the Reform Program has been made, but a few challenges still remain.