The governance system for the Fund Facility will comprise three distinct bodies:
- The SHIFT Programme Management Committee (PMC), which will have overall responsibility for the strategic management of the Fund Facility, as well protecting the money committed. The PMC will be composed of representatives from beneficiaries, donors/ service providers and chaired by the UNCDF Director of the Financial Inclusion Practice Area (FIPA).
- The Fund Investment Committee (IC) will be independent of the External Fund Manager, and tasked solely to review applications received through the EOI and full proposal processes, and to make recommendations as to which proposals should be presented to the SHIFT PMC for their review and approval. The members of the committee will be selected as individuals, not selected on the basis of an organisation. The precise composition of the IC will be agreed by the PMC. It will be comprised of seven members, with a quorum set at four.
- The External Fund Manager will be responsible for supporting the SHIFT Programme Manager and Coordinator on the day-to-day management of the Fund Facility, as well as interacting with all applicants and recipients. Supporting documents for contracting of grantees, including the Milestones and Results Chain, will be negotiated and agreed by the External Fund Manager and Fund Facility Coordinator, based on guidance by and in conformity with the recommendations of the IC and PMC.