This first Annual Monitoring Report of the GEF Small Grants Programme's Operational Phase 5 covers the reporting period from January 2011 through June 2012.  This period was significant as it also marked two decades of GEF SGP's global work with poor and vulnerable communities, more than half of which are in LDCs and SIDS, with over 14,000 projects already supported at the end of the previous operational phase.This report has been prepared by staff of the GEF SGP Central Programme Management Team, based on annual reports submitted by country and sub-regional programmes, and information drawn from the GEF SGP global projects database.