The Tirisano Trust is currently in the process of being set up. Once the process is complete, the trustees will allocate funding on an annual basis. The monies will come via the National Revenue Fund and will be appropriated by parliament to the Fund and thus there will be parliamentary accountability.
It has been agreed between government and the construction companies that all the transactions in the Tirisano Fund will be done on a transparent basis, all beneficiaries will be publicly disclosed and all financial transactions of the Fund (including administration fees, consultancy payments – if any and if warranted), as well as payments made to any individual or company, should be open to public scrutiny.
The Trust provides that monies may be allocated as follows:
The Trust will report publicly on specific projects to be selected and the companies, individuals and communities who will benefit, once the Tirisano Fund has made such allocation.
-END-