Finance and Administration Department

Finance and Administration Department (FAD) is composed of:

Financial Services Division includes:

• The Accounting Section is responsible for quarterly and annual financial reporting; the financial accounting of IFAD's core resources; the Belgian Survival Fund and all other supplementary funds. This section is also responsible for the accounting of investments, loans and grants, Member State contributions and provisions, payroll, and staff and consultants travel. Other functions of this section include: the calculation of the annual drawdown from replenishment resources, accounting for the staff pension fund and all other staff-related contributions. Payments to personnel, consultants, cooperating institutions and operational expenditures are processed here.

• The Loans and Grants Administration Section is responsible for loan and grant disbursements for IFAD's core resources and for all other funds. This section provides vital financial guidance and assistance during appraisal and participates in loan negotiations. When required during project implementation, assistance is provided to resolve outstanding disbursement issues. Close cooperation is maintained with cooperating institutions entrusted with the administration and supervision of IFAD projects. The Loan Servicing Unit monitors the repayment of funds in accordance with loan agreements. Arrears in repayment of principal and interest are carefully followed up.

Strategic Planning and Budget Division has overall responsibility for coordinating and leading results-based budgeting and management in IFAD with the objective of raising development and organizational effectiveness through ensuring that priority activities are adequately resourced, that anticipated future operational developments have a corresponding resource development strategy, and that resource usage is efficient and comparable to best practice in comparable organizations.

The division is specifically responsible for: the corporate planning of annual and medium-term resource deployments according to evolving strategic priorities; developing the authorizing agreements and budgets with Governing Bodies that make resources available; ensuring that departmental and divisional resource plans are consistent with corporate priorities and norms; monitoring resource usage according to efficiency norms and emerging needs; supporting and coordinating a major element of the corporate risk management system; and leading the implementation and evolution of management for development results throughout the organization.

Budget administration is decentralized in IFAD, and both detailed operational planning and budget administration is the responsibility of the functional groups. The role of the Strategic Planning and Budget Division is to promote alignment of resource use and activity planning with corporate objectives (through the planning process at each level), to support budget administration where necessary, to advise on tools and benchmarks for measuring efficiencies and effectiveness from an input: result perspective, and to monitor risk and risk management.

Treasury Division includes:

• The Investments Section deals with investment asset allocation and risk management. It also monitors the external portfolio (including the managers for supplementary funds and the Belgian Survival Fund) and liaises with the Global Custodian. It follows up on investment taxation issues and analyses of the economic circumstances affecting financial markets.
• The Cash Management and Contributions Section effects the payment of loans and grants, payroll and administrative expenses. It is responsible for the receipt of Member State contributions and loan reflows, the maintenance of records for cash accounts and time deposits and the daily reconciliation and closing procedures. The section is responsible for relations with banks, including those used for supplementary funds and non-convertible currencies, and manages the electronic transfer systems. It processes the contributions from Member States and prepares monthly management reports on those contributions.

For more information, send mail to ftmailbox@ifad.org

• Human Resources Division is responsible for developing and recommending personnel policies and practices and administering personnel regulations and rules with a view to ensuring that the Fund is served by competent and motivated staff. For more information, send mail to fhmailbox@ifad.org
• Administrative Services Division is responsible for the implementation of the Headquarters Agreement with the Host Government, administering the privileges and immunities of staff members, visa services, facility management services, corporate image of the headquarters, mail, transportation and dispatch, internal printing and general administration, which includes shipping, insurance, catering ad inventory management control. For more information send mail to famailbox@ifad.org