Lapse of Time | 2023 | Documents | IFAD Members Platform

PROPOSALS ELIGIBLE FOR APPROVAL UNDER THE LAPSE-OF-TIME PROCEDURE

These proposals are posted for Executive Board representatives' review in accordance with rule 24 of the Rules of Procedure of the Executive Board, which sets out the lapse-of-time (LOT) procedure for the approval of IFAD-funded projects and programmes, approved by the Executive Board in December 2009 (EB 2009/98/R.15/Rev.1) and further revised in September 2010 (EB 2010/100/R.41/Rev.1), September 2012 (EB 2012/106/R.9), May 2019 (EB 2019/126/R.48/Rev.2), and September 2023 (EB 2023/139/R.16/Rev.1).

IFAD-financed project/programme proposals, eligible for approval through the LOT procedure, shall:

· Not exceed a financing ceiling of US$50 million;

· Not be classified as "track 1" (high-risk operations).

IFAD-financed non-sovereign private sector operations, eligible for approval through the LOT procedure, shall:

· Not exceed a financing ceiling of US$25 million

In accordance with the Policy for IFAD Grant Financing, IFAD-financed grant proposals up to and including US$500,000 may be approved by the President of IFAD, while those in excess of US$500,000 are approved by the Executive Board through the LOT procedure.

Any Executive Board member may request that a proposal submitted for approval through the LOT procedure be submitted to a formal Board session for consideration. In accordance with rule 24 of the Rules of Procedure of the Executive Board, in the absence of a request from an Executive Board representative for a proposal to be discussed at a formal session of the Board, the proposal is considered approved after the lapse of a period of 21 calendar days from the date of posting of the document and transmission of the communication announcing its posting.

Resource coverage would be ensured for these proposals as attested in the Resources Available for Commitment (RAC) document presented at each December session.

For Approval

No documents are currently under review