The Executive Board is being invited to approve the Policy for Grant Financing at its 114th session. Management has decided to issue contemporaneously procedures for implementing the new policy. An advanced draft of such implementing procedures is set out in this document. The procedures will be finalized and issued by Management after approval by the Executive Board of the Policy for Grant Financing. The present document, Policy for Grant Financing: Implementing Procedures, is provided to the Executive Board to inform its deliberations on the Policy for Grant Financing.