Financial Intermediary Funds (FIFs) are multilateral financing arrangements for which the World Bank provides Trustee services that include committing and transferring funds to project implementers (generally international organizations such as multilateral development banks or UN agencies). In all cases the World Bank as Trustee is required to act in accordance with instructions of independent governing bodies. In fulfilling its responsibilities,the World Bank as Trustee complies with all sanctions relevant to World Bank transactions.
This dataset provides data on FIFs cash transfers at the transaction detail level. Funds are channeled in a coordinated manner to a range of recipients in the public and private sectors through a variety of arrangements. FIF trusteeship involves holding, investing and transferring funds as directed by the FIF governing body. Trusteeship does not involve overseeing or supervising the spend of funds; this is the role of other agencies that receive the funding and who are responsible for project or program implementation. Transfers are generally made by the Trustee to external agencies (other MDBs, and UN agencies,etc.) for the implementation of activities.
Source: worldbank.org