A/HRC/29/18 fund. One State suggested that a public-private partnership model, supported by oversight from international human rights bodies or expert teams, could be more flexible, encourage multi-stakeholder cooperation and effectively manage the fund. Another State favoured a structure wherein governance would be provided by involving national authorities from all regions, as well as OHCHR and other United Nations bodies. 15. Civil society representatives suggested that a board of trustees on which rights holders would be represented and that would be administered by OHCHR would be most appropriate for a new fund in the area of business and human rights. In a joint civil society submission, it was noted that experience with existing funds, such as the United Nations Voluntary Fund for Indigenous Peoples, indicated that fund governance should, in this case, focus on: (a) establishing a procedure for the selection of the members of a board of trustees to ensure familiarity with potential applicants within their constituency, while safeguarding the independence of collective decision-making on grant approvals; (b) developing and publishing eligibility criteria on who may seek support through the new fund — in that context, it was suggested that organizations and groups, in particular indigenous peoples, should not be required to be legally registered in their countries of origin in order to obtain funds; and (c) ensuring that an effective pre-screening procedure is in place to review the legitimacy and past performance of eligible organizations. 16. One civil society stressed the importance of establishing a governance structure that would help secure local and multi-stakeholder support for fund-related activities. It was suggested, in that context, that an independent organization with a multi-stakeholder board responsible for setting priorities, awarding grants, and overseeing and monitoring programme implementation would represent the structure most likely to effectively advance implementation and meet capacity-building needs concerning the Guiding Principles at all levels of governance and across all relevant stakeholder groups. III. Conclusion and recommendations 17. In the light of the foregoing summary of stakeholder views, the High Commissioner provides the following conclusion and makes recommendations on the next steps to be considered by the Human Rights Council during its twenty-ninth session. 18. Firstly, the High Commissioner wishes to stress that any decisions taken by the Council on this issue should be made in the light of broader human rights capacitybuilding and technical assistance trends, as well as the current overall funding situation of OHCHR and the wider United Nations human rights system. In that context, it should be recalled that demands for human rights assistance continue to increase exponentially, yet, owing to a lack of resources, OHCHR has been obliged to significantly reduce its programme of activities for 2015. That reality clearly needs to be considered in further discussions by the Council on the viability of a new fund to strengthen the capacity of stakeholders to implement the Guiding Principles on Business and Human Rights. 19. Secondly, the High Commissioner wishes to stress that, as noted in the feasibility study, any decision concerning a new fund in the area of business and human rights should be made in coordination with the Working Group on the issue of human rights and transnational corporations and other business enterprises. Given its mandate to identify, exchange and promote good practices and lessons learned on the implementation of the Guiding Principles, as well as its role in providing support for efforts to promote capacity-building and the use of the Guiding Principles by all 5