During a closed session the Board decided to accredit the Protected Areas Conservation Trust (PACT) of Belize as a National Implementing Entity, subject to the following conditions:
(a) PACT should provide semi-annual progress reports on Adaptation Fund projects;
(b) PACT should have in place to the satisfaction of the Accreditation Panel and before the approval of the first project:
(i) A formal annual internal control statement signed by its Executive Director and the Board and to be issued with the financial statements;
(ii) A formal mandate for the Finance Committee of the Board to execute the functions of an audit committee; and
(iii) A public antifraud policy that demonstrates a zero tolerance attitude.