Best Practices - Transparency and Accountability

The GFCR takes a leadership role in exemplifying good governance and transparency and takes reasonable efforts to make available accurate information in a timely manner concerning payments to the government, government and community contracts and agreements, investments, grants, activities, and impacts through periodic reports, publications, and other disclosures. 

The Transparency and Accountability principle is focused on the GFCR taking a leadership role in exemplifying good governance and transparency. The goal of the principle is to go beyond required disclosures and reporting, assuring that the GFCR and its partners promote transparency and accountability broadly in the community. 

To achieve this principle, the GFCR will share its own information readily, making non-proprietary information public through its website and the REEF+ Accelerator in a timely manner. 

This should include GFCR Annual reports and any knowledge-sharing materials produced. Additionally, if any payments are made to government agencies, development banks, or other public entities, full disclosure should be made so that civil society organizations can support the effective use of funds. Agreements or other contracts with implementing partners should also be disclosed upon request but should not necessarily be shared publicly by default to avoid inadvertently sharing private or proprietary information.

The GFCR will disclose its annual financial information as part of its desire to be a demonstration fund through well-curated annual reporting. 

These annual reports will include information on government and community contracts and agreements, grants, activities, desired and achieved impacts and outcomes, and investments through the Grant Fund (including concessional loans and guarantees made through the UNCDF) unless that information is confidential for reasons of justified private company issues. 
Other funds and financial partners associated with the GFCR such as the Equity Fund, should establish their own disclosure procedures and transparency guidelines based on the GFCR investment principles. 

You can access more GFCR Investment Principles' best practices here.
The full document covering all the best practice series can be downloaded from here: GFCR Best Practice General Principles 2022.pdf.