Administration

Source Credit

(a) Appointment of an Administrator
The Board of Trustees, in consultation with the appropriate officials of the Bank, should appoint an Administrator who should be responsible for managing the day-to-day operations of the Trust Fund.
(b) Authority to solicit and accept contributions
The Trust Fund should be authorized to solicit and accept contributions from governments, the private sector, and nongovernmental entities of all kinds.
(c) Accountability of funds and criteria for programs
As part of the negotiations described in section 6821(a) of this title, the Secretary of the Treasury shall, consistent with subsection (d)—
(1) take such actions as are necessary to ensure that the Bank or the Association will have in effect adequate procedures and standards to account for and monitor the use of funds contributed to the Trust Fund, including the cost of administering the Trust Fund; and
(2) seek agreement on the criteria that should be used to determine the programs and activities that should be assisted by the Trust Fund.
(d) Selection of projects and recipients
The Board of Trustees should establish—
(1) criteria for the selection of projects to receive support from the Trust Fund;
(2) standards and criteria regarding qualifications of recipients of such support;
(3) such rules and procedures as may be necessary for cost-effective management of the Trust Fund; and
(4) such rules and procedures as may be necessary to ensure transparency and accountability in the grant-making process.
(e) Transparency of operations
The Board of Trustees should ensure full and prompt public disclosure of the proposed objectives, financial organization, and operations of the Trust Fund.

History

(Pub. L. 106–264, title I, §123, Aug. 19, 2000, 114 Stat. 756.)