The transition fund is governed by an independent Board of Directors that represents the BFL Participants (RGOB, donors, WWF) and includes Trustees with experience and skills relevant to BFL. The transition fund Board is non-governmental in majority to ensure independent oversight of the BFL program.
Officiating Director Department of Macro-fiscal and Development Finance Ministry of Finance
Finance & Investment Committee
An Investment Management Committee will advise the transition fund Board regarding investment of BFL assets.
The transition fund Board will be supported by a small Secretariat led by an Executive Director.
Project Steering Committee
A BFL Project Steering Committee provides guidance regarding BFL’s strategic direction at the policy level and review annual work plans and budget. The BFL PSC constitutes representatives from Ministry of Finance, Ministry of Energy and Natural Resources (and other relevant agencies/stakeholders) also provides high level guidance and oversight to the Program as well as support to achieve coordination among various BFL Program implementing agencies. The Program Coordinator for the PCU is the member secretary to the PSC.
- Provide overall guidance and direction to the BFL Program ensuring its alignment with the BFL Conservation Plan and Financial Model;
- Review and endorse the consolidated annual work plan and budget before its submission to the BFL Fund;
- Review and endorse the Semi-Annual and Annual Progress Reports as well as progress/performance reports required by the GCF;
- Review and endorse proposed updates to the BFL Conservation Plan and Financial Model that require BFL Fund Board approval, especially updates considered to amend the Conservation Plan and Financial Model;
- Review and advise on responses to evaluation reports;
- Provide guidance to the BFL PCU on issues raised by the PCU.
Strategic and Technical Committee
A Strategic and Technical Committee (STC) provides guidance and advice in those areas to the PCU. The STC is chaired by MoAF and consists of RGoB experts from the GNHCS, the National Environmental Commission, Ministry of Finance and technical experts drawn from academia and civil society such as the BTFEC and WWF.