The fund is governed by a board of directors. The Board has 24 members. There is an equal number of members from developing and developed countries. Two Co-Chairs of the Board are elected by the Board members. One is a member from a developed country and the other is a member from a developing country. Currently, the Co-Chairs of the Board are Mr. Manfred Konukiewitz (Germany) and Mr. Jose Maria Clemente Sarte Salceda (The Philippines).