At its October 2013 meeting, the Board took a number of important decisions relating to the structure of the Fund, including the structure and staffing of the Secretariat, the structure of the Private Sector Facility (PSF), and Board committees and panels. The Board further decided that finalizing the Fund structure is an essential pre-requisite for resource mobilization.

At the same meeting, the Secretariat of the Fund was established, as provided under paragraph 19 of the Governing Instrument1. After the termination of interim arrangements, the Secretariat started its activities at the Fund’s headquarters in Songdo, Republic of Korea, on 6 January 2014.

Following these decisions, it is important to take account of the evolution that they implies for the duties and responsibilities of the Board, the Co-Chairs, the Board’s committees and panels, the Secretariat, the Executive Director and the Trustee. This document provides a progress report on the structure of the Fund, including a discussion of the changes implied by the transition towards the Fund’s operational phase, in the light of the Governing Instrument, the Rules of Procedure of the Board, and prior Board decisions.