The CEO, in her delegated authority from the Board of Directors:

• Cancels uncommitted grant funds in the amount of US$ 10 million from the previous Education Sector Program Implementation Grant with the World Bank as grant agent and approves a corresponding amount of US$10 million for a new Accelerated Funding, with Save the Children as grant agent, plus an additional US$ 700,000 in agency fees.
• The disbursement of funds to the Grant Agent beyond an initial tranche of US$5 million, is conditioned on the positive conclusion of the grant-level assessment of the grant agent’s country office.