In response to the report of the Board to the COP at its twentieth session, the COP requested the Board to continue further deliberation on privileges and immunities, and to report on this matter at the twenty-first session of the COP (COP 21). It also requested the Board to report biennially to the COP on the status of existing privileges and immunities with regard to operational activities, starting at COP 21.2.

The template bilateral agreement (the “Agreement”) in Annex II has been prepared in response to the request of the Board in decision B.08/24 as the basis for the Fund’s negotiations with countries where the Fund operates. These are developing country Parties that are eligible to receive resources from the Fund in accordance with paragraph 35 of the Governing Instrument. In addition, privileges and immunities should be granted by other country Parties, as in the relevant country where the Fund may have assets, members of the Board and other persons associated with the Fund may be residing or traveling through, and meetings of the Fund, including meetings of the Board, may be held.

The purpose of the Agreement is to facilitate the effective implementation of the Fund’s activities in these countries, and to ensure that the Fund’s legal status and the privileges and immunities of the Fund and the persons associated with it are recognized.