As donor programmes are increasingly harmonised, there is an increasing need to ensure that such arrangements are financially sound and fiduciary risk is minimised. Our understanding of financial management, procurement and disbursement, and the aid effectiveness agenda makes us a trusted partner of many donor agencies to manage different modalities of finance for development purposes.
We aim to mitigate fiduciary risk whilst retaining sufficient flexibility to meet programme objectives through:
- The design and management of pooled trust funds, including the establishment of grant-making mechanisms
- Risk assessments and fiduciary risk management
- The development and management of programme budgets
- Reviewing and harmonising legal and regulatory systems
- Adopting sound practices for supply chain management and contracting and managing implementing agencies
- Sound account management including audit, control and financial reporting
- Monitoring and evaluation of outcomes and impact
In addition, Crown Agents Bank offers services in account management, payment, and reporting tailored for each donor contributing to pooled funds. We have provided banking services to DFID since 1971 and are solely responsible for the account management for all DFID-led pooled funds. We can provide a complete portfolio of banking services to funds led by one or multiple donors, with flexible arrangements for each donor, and have provided banking services for pooled funds in countries including Bangladesh, Vietnam, Sudan, Palestine, Rwanda, Mozambique, Zimbabwe and Zambia.