Loan disbursement handbook for IFAD directly supervised projects

This Loan Disbursement Handbook (hereinafter Handbook) is intended to familiarize both borrowers and recipients with the procedures for withdrawing proceeds of loans/grants/financing provided by and through the International Fund for Agricultural Development (hereinafter IFAD or the Fund), when financing is to be administered and the project supervised by the Fund. The procedures described in the Handbook apply to IFAD loans, grants and/or other financing governed by the Fund’s revised General Conditions for Agricultural Development Financing 1 (hereinafter the General Conditions) as approved on 29 April 2009 by the ninety-sixth session of IFAD’s Executive Board. Section 1 of the Handbook briefly describes the Fund, its lending operations, and matters of general interest relating to loan/grant/financing disbursement, and introduces the Fund’s current disbursement procedures. Section 2 provides general instructions on the preparation of withdrawal applications 2 and other related information. Sample forms and instructions for completing them are presented as annexes. Section 3 details the Fund’s disbursement procedures and includes instructions to assist the borrower. Section 4 specifically advises how and when to use the statement of expenditure methodology, while section 5 provides information to facilitate procurement. Other useful information is provided in annex 8 – additional sample templates for audit purposes – and annex 9 clarifies certain sections of the General Conditions related to loans and repayments.