Field lessons: fiduciary management as a condition of disbursement
What five years of fiduciary management of multi-donor programmes have taught us.
The main lesson
On programmes financed by international lenders, the quality of fiduciary management directly determines the pace of disbursements — and therefore of works.
Three decisive practices
- Dedicated accounts per project: strict separation of flows prevents audit blockages.
- Systematic audit trail: every expense documented at commitment, never reconstructed afterwards.
- Reporting aligned with lenders’ formats: delivering reports in the expected templates halves no-objection delays.
In practice
On a recent programme, strict application of these three practices maintained a disbursement rate 30% above the average of comparable projects in the lender’s portfolio.
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