Table 1.

Categories of World Bank trust funds and their general characteristics

	General purpose	Bank role	Donors	Geographical focus	Accountability	Fees
IBRD/IDA Bank Executed Trust Fund (BETF)	Project analytical and advisory services; project administration; bank’s knowledge agenda	Implementation. Funds support bank’s work programme	Single donor (majority); multi-donor	Country projects (majority)	Subject to bank administrative (not operational) policies; bank prepares terms of reference, procures goods/services, makes payments, and submits financial and programme reports to donors	Indirect rate of 17% of personnel costs charged on disbursement
IBRD/IDA Recipient Executed Trust Fund (RETF)	Co-financing IBRD/IDA operations; financing technical assistance	Operational. Funds pass to third party for implementation; bank appraises or supervises funded activities	Single donor (majority); multi-donor	Country projects (majority)	Subject to bank operational policies; recipients (implementers) submit progress and audited finance reports to bank. Some RETFs (>$5m or co-financing) can instead follow only administrative policies	For new “hybrid” funds, indirect rate of 17% for BETF portion charged on disbursement; scaled fees for RETF portion charged at contribution: 5% fee on first $50m, 4% fee on next $450m, 3% fee on next $500m, 2% fee on further contributions
Financial intermediary fund (FIF)	Providing complex trustee services for funds transferred to multiple implementing agencies	Financial trustee. Customised administrative, financial, or operational services	Multi-donor (vast majority)	Regional and global programmes (vast majority)	Case by case operational, administrative, and financial policies. Standard bank policies do not apply	Case by case. Cost recovery policy generally applies