Following the discussion the Board decided to:
(a) Request the Accreditation Panel to prepare a study on the different options for conditional accreditation, taking into consideration the impact that any such additional conditions might have on the resources and work of the secretariat. The study should take into account all of the Fund‟s pending policy decisions needed to ensure that a mechanism is in place to guarantee compliance with any associated procedures (i.e. project cancellations, audit requirements, reporting, etc). Any conditional accreditation should also ensure that the agreed fiduciary standards are not compromised; and
(b) Consider the study prepared by the Accreditation Panel at its 14th meeting.