According to the Operational Procedures approved by the Governing Body, the following are the steps of the process for the selection of projects to be funded under the Benefit-sharing Fund:
i) opening of the call for proposals;
ii) submission of pre-proposals;
iii) screening and response to pre-proposals by the Bureau members;
iv) submission of project proposals from approved pre-proposals;
v) appraisal of project proposals, based on recommendations made by a panel of experts;
vi) approval of projects for funding within the project cycle;
viii) reporting and monitoring;
ix) independent evaluation.
The Governing Body at its Fourth Session emphasized that quality, relevance according to selection criteria and technical merit will determine, in a transparent manner, the appraisal and approval of full project proposals.