The report is presented to the Basket Fund Donors under the SPP agreement, namely: Danida, Hivos, Norad & Sida. 11.2 Overview Total grants received under the basket funding agreement were N$ 20.99 million (USD 2.9 million). This includes the balance of USD 0.5million brought forward from last year. A balance of N$ 2.45 million (USD 0.341 million) has been carried forward to the next financial year, bringing the net figure of basket funds grant income to N$ 18.5 million (USD 2.578 million). Grants under the basket funding agreement constituted 87% of the total grants for the year. Total expenditure for the year was N$ 20.49 million (USD 2.85 million), which was 7% of the budget figure of USD 2.66 million. A detailed breakdown of expenditure per programme and a summary per country are given in the attached schedules. MISA Annual Report (April 2003 – March 2004) 108