Treasury Management Internation Logo
Cash & Liquidity Management
Published  9 MIN READ

ICRC: Payments on the Front Line

The ICRC is part of the Red Cross & Red Crescent Movement comprised of the International Committee of the Red Cross (ICRC), the International Federation of the Red Cross & Red Crescent (IFRC) as well as National Red Cross/Red Crescent societies present in each country. Interventions in the wake of natural disasters – something the Red Cross is widely known for and that often features in the media – are conducted by IFRC and National Societies. The ICRC (in line with their charter) focuses on assistance in war-torn zones or areas with political unrest or military conflicts. 

The ICRC is headed by the Assembly, its supreme governing body. This is a committee made up of up to 25 members who are not paid for their services. The committee elects a President who in turn appoints a General Director. The latter appoints various sub-directors for specific portfolios. 

Fundraising, project planning and how this affects treasury

The ICRC strategies are defined by the governing board and set the tone for the work of the treasury department. The ICRC is neither a for-profit business nor a financial  organisation which aims to maximise year-end profit. It is a non-profit organisation which offers protection to those most in need, affected by conflicts. The balance sheet only reveals restricted and/or unrestricted positions, and there is no shareholders’ equity. Financial organisation starts with a budget created for ICRC activities in conflict situations. It contains the required spending, for example in connection with food or medications. These plans are created by local units – so-called Operations or Delegations.