IN SOME COUNTRIES, INTERNATIONAL FIDUCIARY AGENTS ARE SUPPORTING PRS

Author:

Download PDF The Global Fund has used, or is using, international fiduciary agents in up to a dozen countries. International fiduciary agents are used to provide support to the principal recipient (PR) in the area of financial management. The appointment of an international fiduciary agent is considered exceptional. According to the Global Fund Secretariat, the circumstances that might trigger the…

Article Type:

Article Number:

ABSTRACT International fiduciary agents have been used in up to a dozen countries to provide support to the principal recipient in the area of financial management. The role of these agents differs from that of local fund agents.

The Global Fund has used, or is using, international fiduciary agents in up to a dozen countries. International fiduciary agents are used to provide support to the principal recipient (PR) in the area of financial management.

The appointment of an international fiduciary agent is considered exceptional. According to the Global Fund Secretariat, the circumstances that might trigger the appointment of an international fiduciary agent differ from country to country, but usually include significant concerns about the financial management capacity of the PR.

Examples of countries where the Global Fund has used international fiduciary agents are Uganda, Djibouti, and Cote d’Ivoire. As reported recently in GFO, the Global Fund is in the process of appointing an international fiduciary agent for all of its grants in Niger (where the Office of the Inspector General is currently investigating allegations of fraud).

The responsibilities of an international fiduciary agent are different from those of a local fund agent (LFA). An international fiduciary agent works on the “programme” side providing direct support to the financial management of the PR. The LFA works on the “verification” side and reports to the Global Fund Secretariat.