There are several steps.
The country works on a proposal. They submit the proposal. It goes to the technical review panel I spoke about and then to the board for approval. Once the board approves, it goes to the secretariat, which enters into a contractual relationship with the country, with clear indicators of what is going to be achieved and how.
That process, from board approval to the actual signing so that the money can flow, takes 11 months, on average.