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Strategy and Finances

ARTF Fiduciary Framework

As the ARTF Administrator, the World Bank employs a systematic approach to minimizing the exposure of ARTF funds to fiduciary risk. This includes policies, procedures and practices that work together to identify, analyze, evaluate and then address and monitor risk.

ARTF funds are on-budget, which means they are channeled through the Afghan Government’s budget and systems. ARTF financing is therefore subject to government-wide controls. Funds can be traced to their eventual specific use for which evidence is presented to the World Bank in annual audits.

The ARTF provides technical assistance to Government to ensure government systems are in place and strengthened.

In addition to the Government’s own control systems, the World Bank closely supervises the ARTF funds. The World Bank has added additional controls to its normal supervision system in the form of the ARTF Third-Party Monitoring: Expenditure Eligibility and  Site Supervision.

EQRA Project
EQRA Project

Fiduciary Framework