,
                                                        OFFICIAL
          •
                                                  DOCUMENTS
                 Administration Agreement between the European Commission and the International Bank for
                Reconstruction and Development and the International Development Association concerning the
                Wealth Accounting and Valuation of Ecosystem Services (PLUS) ("WAVES PLUS'') Multi-Donor
                                                Trust Fund (No. TF072708)
                                 Donor Reference No. 21.020701/2018/782767 /SUB/ENV.D2

              This Administration Agreement is concluded under Indirect Management in the context of the Framework
              Agreement between the World Bank Group and the European Commission dated April 15, 2016 (the
              "Framework Agreement" or "2016 Framework Agreement") which sets the general conditions for this
              Administration Agreement. The Framework Agreement shall be applicable and form an integral part of this
              Administration Agreement for the Trust Fund.

              l.      The International Bank for Reconstruction and Development and the International Development
              Association (collectively, the "Bank") acknowledge that the European Commission (the "Donor", and
              together with the Bank, the "Parties" and each a "Party") agrees to provide the sum of two million seven
              hundred thousand Euro (€ 2,700,000) (the "Contribution") for the Wealth Accounting and Valuation of
              Ecosystem Services (PLUS) Multi-Donor Trust Fund, No. TF072708 (the "Trust Fund" or "WAVES PLUS
              Trust Fund"), in accordance with the terms of this Administration Agreement. Other donors are also
              expected to contribute to the Trust Fund on the terms and conditions specified in the Annexes to this
              Administration Agreement.

              2.      The Contribution shall be used to finance the activities set forth in the "WAVES PLUS Trust Fund
              Description" attached hereto as Annex 1, and shall be administered by the Bank on behalf of the Donor in
              accordance with the terms of this Administration Agreement, including the "Standard Provisions" attached
              hereto as Annex 2 and the provisions on "Governance" attached hereto as Annex 3.

              3.      The Donor shall deposit the Contribution in accordance with the following schedule and in the
              currency specified in Section I above ("Contribution Currency") into such bank account designated by the
              Bank ( each amount deposited hereinafter referred to as an "Installment") upon submission of a payment
              request by the Bank:

                      (A)     Promptly following countersignature:€ 1,000,000
                      (B)     By December 1, 2019: € 1,000,000
                      (C)     By September 1, 2020: € 700,000

'             The period for payment of further Instalments shall be 90 days.
              The period for payment of the balance shall be 90 days.

              4.      The Contribution is being provided in Installments on the basis of financial needs of the Trust Fund.
              If the Bank determines, on the basis of the speed of the implementation of the activities and availability of
              funds in the Trust Fund, that it is necessary to either bring Installments forward or delay them, the Bank
              and the Donor will discuss and agree to revise the Installment schedule, as confirmed by the Bank to the
              Donor in writing.

              5.       When making any deposit, the Donor shall instruct its bank to include in its deposit details
              information (remittance advice) field of its SWIFT deposit message, information indicating: the amount
              deposited, that the deposit is made by the Donor for TF072708 (the WAVES PLUS Trust Fund), the
              Commission internal reference number and the date of the Administration Agreement, and the name of the
              Commission department responsible for the Trust Fund, and the date of the deposit (the "Deposit
              Instructions"). In addition, the Donor shall provide a copy of the Deposit Instructions to the Bank's

    '·.
                                                                                                               r'




Accounting Trust Funds Division by e-mail sent to tfremitadvice@worldbank.org or by fax sent to+ 1 (202)
614-1315.

6.       Except with respect to the Deposit Instructions, any notice, request or other communication to be
given or made under this Administration Agreement shall be in writing and delivered by mail, fax or e-mail
to the respective Party's address specified below or at such other address as such Party notifies in writing
to the other Party from time to time:

        For the Bank (the "Bank Contact"):

                Raffaello Cervigni
                Lead Environmental Economist
                Environment and Natural Resources
                The World Bank
                1818 H Street
                Washington, DC 20433, U.S.A.
                Tel:+ 1 202 378 4432
                Fax: +1202614 1688
                E-mail: rcervigni@worldbank.org

        For the Donor (the "Donor Contact"):

                European Commission
                DG Environment
                F.a.o. Head of Unit
                Unit ENV.A5 (Finance)
                BU-9 00/006
                B-1049 Brussels
                Belgium

                Copies of the documents referred to above, and correspondence of any other nature, shall
                be sent to:

                European Commission
                DG Environment
                F.a.o. Head of Unit
                UnitENV.D2
                Biodiversity
                BU-5 05/137
                B-1049 Brussels
                Belgium
                Tel: +32-2-299.50.68

                For day-to-day correspondence, please contact the Policy Officer in charge, Jakub Wejchert
                (Jakub.Wejchert@ec.europa.eu or tel: +32-2-296.80.32).

7.      In the event any amounts are to be returned to the Donor under this Administration Agreement, the
Bank shall transfer such amounts to the Donor, unless otherwise agreed with the Bank. When making any
deposit, the Bank shall include in its deposit details information (remittance advice) field of its SWIFT
deposit message, information indicating: the amount deposited, that the deposit is made by the Bank in




                                                     2
...




      relation to TF072708 (the WAVES PLUS Trust Fund), and the date of the deposit. The Bank shall provide
      a copy of such information to the Donor.

      8.      Pursuant to Article 13.3 (b) of the Framework Agreement, the Bank shall charge an Indirect Rate
      (as defined in Annex 1 to this Administration Agreement) of 17% of direct costs of their personnel and
      consultants directly assigned to the Bank-executed activities, for which the Bank has operational
      responsibility, as described in Section 2.1 of Annex 1 to this Agreement.

      Bank-executed Trust Fund expenditures listed in Annex 1 to this Agreement relate only to those Bank-
      executed activities for which the Bank has operational implementation responsibility under the Trust Fund.
      They do not include the cost of Bank corporate services in support of the work carried out by its operational
      units implementing trust funds.

      9.      An indicative budget shall be available at the Development Partner Center website and shall be
      used for monitoring and reporting purposes only and shall not be binding and may be revised from time to
      time by the Bank provided the Action is carried out as described in Annex 1 and the Donor is informed
      beforehand.

      I 0.     Expected results and corresponding indicators (including baselines, result goals and sources of
      data) are set out in the indicative results framework of the Trust Fund and shall be available in Annex 4 to
      this Agreement and in the Development Partner Center website. Any modifications and/or updates to the
      indicative results framework shall be reflected in the Development Partner Center website. The expected
      results and indicators shall be used for monitoring and evaluation purposes only and shall not be binding.
      Progress against such indicative results framework shall not be taken into account to determine the final
      amount of the Contribution to the Trust Fund by the European Commission.

      11.      The Implementation Period shall start on the date following that on which the last of the two parties
      signs.

      12.     Individual procurement and grant contracts under this Administration Agreement shall be signed
      by the World Bank Group entity no later than the End Disbursement Date.

      13.     The measures taken to identify the European Union as a source of financing shall be in accordance
      with Attachment 4 of the Framework Agreement.

      14.     All annexes hereto and the Framework Agreement constitute an integral part of this Administration
      Agreement, whose terms taken together shall constitute the entire agreement and understanding between
      the Donor and the Bank. In the event of any inconsistency, the Framework Agreement prevails over the
      Administration Agreement and the Administration Agreement prevails over its Annexes. Unless otherwise
      specified in an annex hereto, this Administration Agreement may be amended only by written amendment
      between the Bank and the Donor; provided, however, that any annexes to this Administration Agreement
      may be amended only by written amendment of all donors contributing to the Trust Fund.


                                       [remainder ofpage intentionally left blank}




                                                            3
                                                                                                                  ri




15.      Each of the Parties represents, by confirming its agreement below, that it is authorized to enter into
this Administration Agreement and act in accordance with these terms and conditions. The Parties are
requested to sign and date this Administration Agreement, and upon possession by the Bank of this fully
signed Administration Agreement, this Administration Agreement shall become effective as of the date of
the last signature.

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
INTERNATIONAL DEVELOPMENT ASSOCIATION



By•d;;g:~
Name:    \<.~,lJ' K5""fe.r
Title:   'Sc.c-i\Q r     :» ~c,,kc
Date:    "3:>ec. . l <? ~ l tr"




EUROPEAN COMMISSION




Title:              .
         'j)c.,ece. T~    - Q,111. i:J

Date:      !l/r2./?n1R




                                                      4
                                                                                                  ANNEX 1

                                WAVES PLUS Trust Fund Description

This Annex shall be applicable to and form an integral part of all administration agreements for the Trust
Fund (collectively, the "Administration Agreements" and each an "Administration Agreement") between
the Bank and any entities that provide any funds to the Trust Fund (collectively, the "Donors").

I.      Objectives

The objective of the Trust Fund is to promote sustainable development by incorporating the physical and
monetary values of natural accounts in decision-making process.

2.      Activities

The activities to be financed by the Trust Fund are:

2.1     Bank-executed activities, for which the Bank has implementation responsibility:

        2. l. l. Support to Core Implementing Countries for establishing and using National Capital
        Accounting (NCA), including through, inter alia, the development of technical guidelines and
        toolkits for updating and implementing NCA.

        2.1.2. Promotion of regional cooperation to advance the use of NCA in countries including
        through, inter alia, the provision of training and knowledge sharing tools at the regional level.

        2.1.3. Support the promotion of NCA at the global level including through, inter alia, the
        development of a revised manual for ecosystem accounts and the provision of training and
        knowledge products on the policy use ofNCA.

        2.1.4. Program management and administration activities for the Trust Fund, including but not
        limited to, supporting program governance arrangements and Trust Fund related meetings;
        planning and executing work plans and budgets; managing communications and conducting
        outreach; disseminating lessons learned; reporting on progress; appraisal and supervision activities;
        and monitoring and evaluating the program.

2.2   Recipient-executed activities, for which one or more Recipients (as defined in Annex 2) have
implementation responsibility:

        2.2.1. Capacity building to Core Implementing Countries for establishing and using NCA
        including through, inter alia, support for the development of long-term roadmaps for NCA.

3.      Eligible Expenditures

3.1     For Bank-executed activities, the Trust Fund funds may be used to finance:

        (a)     contractual services;
        (b)     media, workshops, conferences and meetings;
        (c)     travel expenses;
        (d)     short-term consultants and temporaries;
        (e)     extended term consultants and temporaries; and



                                                       5
        (f)     staff costs (excluding short term consultants and temporaries, and also excluding extended
                term consultants and temporaries).

3.2     For purposes of this section: (i) "staff costs (excluding short term consultants and temporaries, and
also excluding extended term consultants and temporaries)" includes salaries, benefits and indirect rates
charged to the Trust Fund as applicable under Bank policies and procedures; (ii) "extended term consultants
and temporaries" includes fees, benefits and indirect rates charged to the Trust Fund as applicable under
Bank policies and procedures; and (iii) "short term consultants and temporaries" includes fees and indirect
rates charged to the Trust Fund as applicable under Bank policies and procedures.

3.3     The "Indirect Rate" means the indirect rate, defined as a percentage of personnel costs and available   ~
at the Development Partner Center website, as such rate may be revised from time to time by the Bank and
applied to this Trust Fund, in accordance with its policies and procedures.

3.4    For Recipient-executed activities, the Trust Fund funds may be used to finance eligible
expenditures in accordance with the Bank's applicable policies and procedures.

4.      Taxes

4.1    The foregoing activities and categories of expenditures may include the financing of taxes in
accordance with the Bank's applicable policies and procedures.




                                                     6
                                                                                                       ANNEX2

                                             Standard Provisions

This Annex shall be applicable to and form an integral part of all Administration Agreements between the
Bank and the respective Donors.

1.      Administration of the Contributions

1.1      The Bank shall be responsible only for performing those functions specifically set forth in this
Administration Agreement, including its annexes, and shall not be subject to any other duties or
responsibilities to the Donors, including, without limitation, any duties or obligations that might otherwise
apply to a fiduciary or trustee under general principles of trust or fiduciary law. Nothing in this
Administration Agreement shall be considered a waiver of any privileges or immunities of the Bank under
its Articles of Agreement or any applicable law, all of which are expressly reserved.

1.2      Each Donor's Contribution (collectively, the "Contributions") shall be administered in accordance
with the Bank's applicable policies and procedures, as the same may be amended from time to time,
including its procurement, financial management, disbursement and safeguard policies, its framework to
prevent and combat fraud and corruption and its screening procedures to prevent the use of Bank resources
to finance terrorist activity, in line with the Bank's obligations to give effect to the relevant decisions of the
Security Council taken under Chapter VII of the Charter of the United Nations. The Donors acknowledge
that this provision does not create any obligations of the Bank under the anti-terrorist financing and asset
control laws, regulations, rules and executive orders of an individual member country that may apply to a
Donor.

2.      Management of the Contributions

2.1     The funds deposited in the Trust Fund shall be accounted for as a single trust fund and shall be kept
separate and apart from the funds of the Bank. The funds deposited in the Trust Fund may be commingled
with other trust fund assets maintained by the Bank. The Bank, in its capacity as trustee, has legal title to
the funds deposited in the Trust Fund.

2.2    The currency in which the funds in the Trust Fund shall be held is United States Dollars (the
"Holding Currency").

2.3     Donors agree to deposit their Contributions in the Contribution Currency stated in their respective
Administration Agreements. In the case of deposits received in a Contribution Currency other than the
Holding Currency, promptly upon the receipt of such amounts and the accompanying Deposit Instructions,
the Bank shall convert such amounts into the Holding Currency at the exchange rate obtained by the Bank
on the date of the conversion. Where deposits prove to be insufficient to complete activities as a result of
exchange rate fluctuations, neither the Bank nor the Donor shall bear any responsibility for providing any
additional financing.

2.4     The funds deposited in the Trust Fund may be freely exchanged by the Bank into other currencies
as may facilitate their disbursement at the exchange rate obtained by the Bank on the date of the conversion.

2.5     The Bank shall invest and reinvest the funds deposited in the Trust Fund pending their disbursement
in accordance with the Bank's applicable policies and procedures for the investment of trust funds
administered by the Bank. The Bank shall credit all income from such investment to the Trust Fund to be
used for the same purposes as the Contributions.



                                                        7
3.      Accounting and Financial Reporting

3 .1    The Bank shall maintain separate records and ledger accounts in respect of the funds deposited in
the Trust Fund and disbursements made therefrom.

3.2      The Bank shall furnish to the Donors current financial information relating to receipts,
disbursements and fund balance in the Holding Currency with respect to the Contributions via the
Development Partner Center website which will be updated quarterly. Within six (6) months after all
commitments and liabilities under the Trust Fund have been satisfied and the Trust Fund has been closed,
the final financial information relating to receipts, disbursements and fund balance in the Holding Currency
with respect to the Contributions shall be made available to the Donors via the Development Partner Center
website.

3.3      The Bank shall provide to the Donors via the Development Partner Center website, within six (6)
months following the end of each Bank fiscal year, an annual single audit report, comprising (i) a
management report together with an audit opinion from the Bank's external auditors concerning the
adequacy of internal control over cash-based financial reporting for all cash-based trust funds as a whole;
and (ii) a combined financial statement for all cash-based trust funds together with the Bank's external
auditor's opinion thereon. The cost of the single audit shall be borne by the Bank.

3.4      If a Donor wishes to request, on an exceptional basis, a financial statement audit by the Bank's
external auditors of the Trust Fund, the Donor and the Bank shall first consult as to whether such an external
audit is necessary. The Bank and,the Donor shall agree on the appropriate scope and terms of reference of
such audit. Following agreement on the scope and terms of reference, the Bank shall arrange for such
external audit. The costs of any such audit, including the internal costs of the Bank with respect to such
audit, shall be borne by the requesting Donor.

3.5     The Bank shallmake available to the Donors copies ofall financial statements and auditors' reports
received by the Bank from Recipients pursuant to any Grant Agreements (as defined below) in accordance
with the Bank's Access to lnfonnation Policy.

4.      Progress Reporting

4.1.    The Bank shall provide the Donors with annual written progress reports. The progress reports shall
be provided with reference to the results framework agreed by the Bank and the Donors, as such results
framework may be reviewed by the Parties from time to time. Within ( 6) months of the End Disbursement
Date (as defined below), the Bank shall provide to the Donors with a final narrative report for the Trust
Fund.

4.2      Any Donor may review or evaluate activities financed by the Trust Fund at any time up to closure
of the Trust Fund. The Donor and the Bank shall agree on the scope and conduct of such review or
evaluation, and the Bank shall provide all relevant information within the limits of the Bank's applicable
policies and procedures. All associated costs, including any costs incurred by the Bank, shall be borne by
the Donor. It is understood that any such review or evaluation will not constitute a financial, compliance
or other audit of the Trust Fund.




                                                      8
5.      Disbursement; Cancellation; Refund

5.1      It is expected that the funds deposited in the Trust Fund will be fully disbursed by the Bank by
December 31, 2020 (the "End Disbursement Date"). The Bank shall only disburse funds deposited in the
Trust Fund for the purposes of this Administration Agreement (other than returns to Donors) after such date
to the extent such date is changed in accordance with amendments made to the Administration Agreements
of all the Donors. Following the End Disbursement Date, the Bank shall return any remaining balance of
the Trust Fund to each Donor in the Holding Currency in the manner specified in its respective
Administration Agreement on a pro rata basis with regard to the total funds deposited in the Trust Fund by
such Donor relative to the total funds deposited in the Trust Fund by all Donors, all calculated as Holding
Currency amounts.

5.2     Any Donor may cancel all or part of such Donor's pro rata share, and the Bank may cancel all or
any Donors' pro rata shares, upon three (3) months' prior written notice, of any Contributions (paid and not
yet paid) that are not committed pursuant to any agreements entered into between the Bank and any
consultants and/or other third parties for the purposes of this Administration Agreement, including any
Grant Agreements, prior to the receipt of such notice. In the event of a cancellation, the Bank shall return
to the Donor its pro-rata share in the Holding Currency as specified in paragraph 2.2. of this Annex 2; unless
otherwise agreed between the Bank and the Donor.

6.      Disclosure; Dispute Resolution

6.1      The Bank shall disclose the Administration Agreements and related information on this Trust Fund
in accordance with the Bank's Policy on Access to Information. By entering into Administration
Agreements, the Donors consent to such disclosure of their respective Administration Agreements and such
related information.

6.2     The Donors and the Bank shall use their best efforts to amicably settle any dispute, controversy, or
claim arising out of or relating to the Administration Agreements.

7.      Grants to Recipients

7.1      The Bank shall, as administrator of the Trust Fund on behalf of the Donors, enter into one or more
grant agreements (the "Grant Agreements") with recipients (the "Recipients") consistent with the purposes
of this Administration Agreement and on the terms and conditions set forth in the Grant Agreements. Grant
Agreements may be entered into up to the maximum amount of the Contributions that all Donors have
agreed to make available under the Administration Agreements between the Bank and the Donors.

7.2     The Bank shall be responsible for the supervision of the activities financed under any Grant
Agreements. Subject to the consent of any relevant Recipients, representatives of the Donors may be invited
by the Bank to participate in Bank supervision missions related to the Trust Fund.

7.3     The Bank shall promptly inform the Donors of any significant modification to the terms of any
Grant Agreements and of any contractual remedies that are exercised by the Bank under any Grant
Agreements. To the extent practicable, the Bank shall afford the Donors the opportunity to exchange views
before effecting any such modification or exercising any such remedy.




                                                      9
8.           Trust Fund Fee

8.1     The Bank shall calculate a fee each time funds (the "Grant Amount") from the Trust Fund become
committed under a Grant Agreement. Such commitment shall occur when such Grant Agreement is fully
countersigned (the "Calculation Date"). The fee so calculated by the Bank shall be based on the cumulative
total of funds from the Trust Fund committed under all Grant Agreements that have been fully
countersigned on or prior to the Calculation Date (the "Cumulative Grant Total"). The calculated fee shall
depend on where the Cumulative Grant Total stands as the Grant Amount is added and shall be determined
in accordance with the following schedule:

     (i)        5% of any portion of the Grant Amount that results in a Cumulative Grant Total below or
                equal to US$ 50 million or equivalent; plus
     (ii)       4% of any portion of the Grant Amount that results in a Cumulative Grant Total above US$
                50 million or equivalent and below or equal to US$ 500 million or equivalent; plus
     (iii)      3% of any portion of the Grant Amount that results in a Cumulative Grant Total above US$
                500 million or equivalent and,below or equal to US$ 1 billion or equivalent; plus
     (iv)       2% of any portion of the Grant Amount that results in a Cumulative Grant Total above US$ 1
                billion or equivalent.

8.2     Following each Calculation Date, the Bank shall deduct from the Trust Fund, and retain for its own
account, the fee as set forth above. Grant Amounts may not exceed the balance of uncommitted funds in
the Trust Fund net of the related fee.




                                                      10
                                                                                                  ANNEX3

                                                 Governance


This Annex shall be applicable to and form an integral part of all Administration Agreements between the
Bank and the respective Donors.

1.         Steering Committee (SC).

1.1.1.     The Trust Fund will be guided and overseen by a SC which includes the Donors. The SC will meet
           at least once a year, usually alongside the annual partnership meeting, and will be chaired by the
           Bank. Additional meetings may be organized as required. The SC may invite relevant stakeholders,
           such as partner countries, international agencies or relevant institutions, to participate in the
           meetings as observers. The SC provides (i) strategic guidance and oversight on WAVES PLUS
           program implementation; (ii) inputs for partnership engagement; (iii) inputs to the annual work
           program and modalities of implementation; and (iv) inputs and guidance on progress, monitoring,
           and evaluation.

1.1.2.     Decision making: The Bank shall be solely responsible for making decisions regarding the
           allocation of program funds, the implementation of bank-executed program activities, the
           development of work programs, and implementation of recipient-executed activities, in line with
           its policies and procedures.

2.         Secretariat.

2.1.1.     A WAVES PLUS Secretariat will manage day to day operations of the Trust Fund. It consists of a
           program manager; senior specialists responsible for each of the program components; and
           supporting technical, administrative, and operational staff. Each program component will have a
           Task Team Leader in the secretariat, responsible for overseeing, supervising, and monitoring the
           implementation of their component, including the delivery of outputs and outcomes.

3.         Country-level governance and implementation.

3. I. I.   Arrangements will remain flexible, to be determined during country identification, engagement,
           and work planning processes. National steering committees (NSC) will be established to provide
           high-level policy and stakeholder engagement, coordination, guidance, and oversight for NCA
           implementation. The NSC will consist of institutions responsible for development planning and
           economic policy, preferably based within existing cross-sectoral policy platforms or government
           committees/commissions with relevant mandates.




                                                       11
                                          ANNEX4




     10    Country NC and ecosystem
           accounts reports (CIC, TTAs)


     10    Country ecosystem accounts
           (CIC, TTAs)



     10    Country ecosystem accounts
           (CIC, TTAs)



     100   WAVES Plus program files,
           includin trainin re orts

12
Institutionalization ofNCA          IR Indicator 1.1: Countries           0        4    Review of documents            Unforeseen changes
including ecosystem accounting in   supported by the project with                       establishing Natural Capital   in CICs
five to eight new countries         Natural Capital Accounts Steering                   Accounts Steering Committee
                                    Committee established and
                                    stakeholder participation
                                    established
                                    IR Indicator 1.2: Skilled staff in    0        16   WAVES Plus program files
                                    relevant government institutions
                                    participating in natural capital
                                    accounting and related policy
                                    anal sis
                                    IR Indicator 1.3: Countries           0        12   Country NC and ecosystem
                                    supported by the project with first                 accounts reports (CIC, ITAs)
                                    preliminary draft natural capital
                                    accounts(of which 60% have
                                    ecos stem accounts
                                    IR Indicator 1.4: Countries           0        10   Country NC and ecosystem
                                    supported by the project with final                 accounts reports (CIC, ITAs)
                                    natural capital accounts validated
                                    and made publicly accessible (of
                                    which 60% have ecosystem
                                    accounts
                                    IR Indicator 1.5: Countries           0        10   Country NC and ecosystem       Political
                                    supported by the project with                       accounts reports (CIC, ITAs)   willingness/capacity
                                    policy question(s) identified,                                                     in partner CIC
                                    methodologies chosen and first
                                    simulations done based on
                                     relimina data

                                                                              13
                                      IR Indicator 1.6: Countries         0        s    Reviewofpdlicy simulation
                                      supported by the project with                     reports
                                      policy analysis simulation based
                                      on final data (disaggregated by
                                      'old' 'new' cowitries
One to two regional collaboration     IR Indicator 2.1: Regional          0        3    Review of proceedings
initiatives functioning by 2020,      knowledge events on natural
with exchange ofregional              capital and ecosystem accounting
expertise, experiences, and lessons   supported by the project
learned

                                      IR Indicator 2.2: Regional          0        3    WAVES website
                                      knowledge products supported by
                                      the project made publicly
                                      accessible

                                      IR Indicator 2.3: Number of         0        12   WAVES Plus program files
                                      countries with targeted technical
                                      assistance

WAVES maintains a leading role        IR Indicator 3.1: Global            0        4    Events proceedings, WAVES
and provides an important platform    knowledge events on developing                    website
for scaling up NCA globally, in       ecosystem accounts supported by
particular advancing experimental     the project, in cooperation with
ecosystem accounting, by              international organizations and
leveraging WBG operations             projects, such as UNSD, UNEP,
                                      EUPI, etc,)

                                      IR Indicator 3.2: Global            0        7    WAVES website
                                      knowledge products on
                                      developing ecosystem accounts
                                      made ublicl accessible




                                                                              14
IR Indicator 3.3: Global            0        5         Events proceedings, WAVES
knowledge events on policy uses                        website
ofNCA and ecosystems accounts
supported by the project, in
cooperation with international
organizations and projects, such
as UNSD, UNEP, EU Pl, etc)

IR Indicator 3.4: Global            0        5         WAVES website
knowledge products on policy
uses ofNCA and ecosystems
accounting made publicly
accessible, including development
of indicators based on accounts

IR Indicator 3.5: Hits on WAVES     91,109   213,000   Automatic logging data from
website (global+ country pages)                        website

IR Indicator 3.6:                   0        500       Participant's lists
People reached in internal Bank
events BLs etcetera
IR Indicator 3.7: Institutions      0        16        WAYES Country reports
represented in the Steering
Committee reached in


                                    2,200    3,000     Subscription data
WAVES newsletter




                                        15
 Cross-cutting output: Identify         Jndicator4.I: Publications on   0        3          WAVES website
 necessary measures for using NCA       lessons learnt on what works
 and ecosystem accounting for policy:   using NCA and ecosystem
 What other work is required after      accounting
 accounts arc set up
 Where in the policy cycle the
 accounts should be used
 Which institutions will be
 res onsible for usin accounts

The results framework is indicative and is subject to change without the need for further amendment to this Administration Agreement. Modifications
to the results framework shall be reflected in the Development Partner Center website. The results frllll}eWork is for monitoring and-tvttluation .---
purposes only and progress against it shall not be taken into account to determine'the final amount of the Contribution to the Trust Fund by the
European Commission.




                                                                            16