The Road to the SDGs

PURPOSE X As IsDB embarked on the journey of decentralisation, the disbursement function was decentralised to the Regional Hubs as well, with the objective of improving disbursements and expediting project implementation. This decentralised approach required sound policies and procedures and greater harmonisation with the relevant internal and external stakeholders. Hence, a Disbursement Handbook was developed to address these important aspects. X IsDB is continually growing the support available to its MCs. In 2019, it disbursed US$ 2.98 billion for projects and grants, 16% higher than the amount disbursed in 2018, which was the highest level of disbursements made by the Bank. To ensure consistent value in its disbursement activities, IsDB is constantly working to yield better value for its funding programmes. X Organisational improvements to boost efficiency and effectiveness as part of IsDB’s new business model have addressed many aspects of the funding cycle, making funds go further and reducing costs. X As part of this comprehensive approach, IsDB has prepared the Disbursement Handbook. X With the objective of providing IsDB beneficiaries with clear and easy-to-use guidelines about disbursement policies and procedures, the Handbook: – Focuses primarily on the critical steps that beneficiaries are required to follow in submitting withdrawal applications and in obtaining proceeds from financing or grant accounts, for the execution of projects and programmes financed either by or through IsDB – Covers the processes required by IsDB for closing the relevant project or programme disbursement accounts, after project implementation – Is intended to be read in conjunction with the relevant financing or grant documentation. X The Handbook is designed to reduce delays at various project stages. It has already played a part in enabling the achievement of IsDB’s 2019 disbursement targets and improvements in various portfolio quality indicators. METHOD X The Handbook plays an important role in ensuring continued improvement on all relevant metrics. It provides a summary of the disbursement policies, guidelines and procedures followed by IsDB and is an important reference tool for: – Beneficiaries Disbursement Handbook developed M anaging the flow of large sums for the funding of programmes and projects is a crucial focus for IsDB The Disbursement Handbook is designed to guide all concerned stakeholders with the objective of having one document that captures all the critical aspects related to disbursements The Handbook is a compilation of disbursement policies, procedures and guidelines for all parties involved in the financial aspects of IsDB-funded projects [ 190 ] SDGs