SOURCE new governance was introduced during Annual Meeting in Bali, on October 12th 2018.
The governance has been revised in order to strengthen Multilateral Development Banks’ (MDBs) involvement in strategic decision-making and budget approvals, and accommodate the transition towards a self-sustainable revenue model. The European Investment Bank (EIB) officially joined the SOURCE Council, which was already composed of the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD) and the Interamerican Development Bank (IDB).
The new governance model is now based on 4 main committees supporting SIF to achieve its mission:
- The SOURCE Council, composed of 4 MDBs members that have made full annual institutional membership contributions and are working to integrate SOURCE into their operations. It has the following mandates:
- Approve annual budget of SOURCE presented by the Managing Board;
- Approve the strategic direction of SOURCE, including oversight of the activities in accordance with the agreed strategic direction for the SOURCE platform’s development and delivery, and
- The Advisory Board:comprises the Multilateral Development Banks who are jointly funding the development of SOURCE and providing SIF with their strategic guidance in supporting the progressive adoption of SOURCE by governments, public agencies and relevant international organisations.
- The Public Sector Committee: is constituted of members of government agencies, who act as representatives of public sector users to promote the needs and interests of government agencies ensuring that the development of the platform meets their requirements.
- The Strategic Committee: represents the private sector needs and interests and provides technical input in review of SOURCE templates.
The Management Unit, implements the approved strategy, has the overall executive responsibility for the management of SOURCE under the supervision and direction of SOURCE Council, with the guidance of the Advisory Board as well as the support of thePublic Sector and Strategic Committee.
For further information please refer to our website https://public.sif-source.org/sif/