The appropriate Country Office or Regional Operations Department at Bank headquarters is responsible for supervising the project according to IDB policies and procedures. Projects normally last from two to four years.
Before implementing the project, the IDB/MIF and the executing agency have to sign an institutional project agreement. Typically, the first disbursement is between 5 and 20% of the total MIF grant amount (from a rotating fund). However, before this initial disbursement can be made, the executing agency must first meet certain conditions, the most important of which are setting up a bank account for MIF funds to be deposited in, granting power of attorney, selecting a project director and submitting their annual Plan of Operations (POA).
In order to receive the remaining disbursements, the executing agency must first submit its progress reports and pay receipts, and comply with other obligations set out in the technical cooperation agreement signed with the IDB/MIF.
The executing agency is also obligated to follow the IDB/MIF procurement policies and procedures, including preparing a procurement plan to be updated periodically.
Comment on this page 
