The Trust Fund is managed by the Africa Region of the World Bank It is managed on the basis of a framework agreement with the Norwegian Ministry of Foreign Affairs, and renewed annually after a Consultation meeting. There is also ongoing informal contact between the World Bank and the Ministry on the use of the fund. A reference group of experts in education and development advises the Ministry on the use of the fund at the consultations.

Two major advantages of the NETF and the way it operates are speed and flexibility and speed. The funds are not tied to any particular country at a time; they are not tied to using Norwegian expertise. They can be used for regional activities and the best available expertise can be brought in. The funds can be accessed quickly, since approval of application is at the level of the Administrator in the World Bank. This makes it possible for program preparation to proceed quickly.