IBRD Trust Funds - World Bank

Published purpose

This project supports the Government of Ecuador in the socio-economic integration of Venezuelan refugees and migrants and host communities, especially women and girls. The aim is to strengthen the government’s capacity to manage and mitigate internal shocks caused by the influx of Venezuelan refugees and migrants and regularize their status. The Global Concessional Financing Facility (GCFF) is a financing mechanism that leverages donor grant funding to provide middle-income countries with low-cost loans to support migration responses. Supporting donor countries (nine donor countries) provide funds to the GCFF, with the World Bank acting as Trustee. As a supporting donor, Canada is a member of the Steering Committee for this financing mechanism. As with all pooled-fund projects, Canada is working in close cooperation with other donors and the Government of Ecuador to promote effective, transparent, and accountable country systems; increase donor coordination and harmonization; and strengthen mutual accountability. This project also fosters greater policy dialogue among donors, government, and partners, which helps to strengthen efforts for effective, focussed aid, and long-term development results. This project is continuously monitored and evaluated in coordination with other donors.