Board decisions

The Board, having reviewed document GCF/B.17/04 titled “Date and venue of the following meeting of the Board”:

1. Decides that the eighteenth meeting of the Board will take place in Cairo, Arab Republic of Egypt, from Saturday, 30 September to Monday, 2 October 2017;
2. Also decides that the nineteenth meeting of the Board will take place from Tuesday, 27 February to Thursday, 1 March 2018 in Songdo, Republic of Korea;
3. Recommends that the Secretariat propose, at the second Board meeting of each calendar year, the schedule of Board meetings for the following calendar year, with this process to begin at the twentieth Board meeting;
4. Requests the Secretariat, in presenting the indicative schedule of Board meetings, to take into account all official United Nations holidays, including both fixed and floating holidays.

The Board, having considered document GCF/BM-2017/08 titled “Dates of the seventeenth meeting of the Board”:

1. Decides to hold an informal working meeting of the Board open to active observers from Monday, 3 July to Tuesday, 4 July 2017 in Songdo, Republic of Korea; and
2. Decides that the seventeenth meeting of the Board will take place from Wednesday, 5 July to Thursday, 6 July 2017 in Songdo, Republic of Korea.

The Board, in accordance with decision B.08/20 and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations with the Fund:

Civil Society Organizations:

• American Jewish World Service (AJWS)
• Cameroon Wildlife Conservation Society (CWCS)
• Centre de Formation et de Recherche pour le Developpement (CFRD International)
• Centre for Climate Change and Environmental Studies (C4CCES)
• Forest & Agroforestry Promoters Cameroon (FAP NGO Cameroon)
• Forest Peoples Programme (FPP)
• International Solar Energy Society (ISES)
• Mohammed VI Foundation for the Research and Safeguarding of the Argan Tree (FMVIRSA)

Private sector organizations:

• DAI Global LLC.
• E Co LTS International Ltd.

International entities:

• Cassa depostiti e prestiti (CDP)
• Water Supply & Sanitation Collaborative Council (WSSCC)

The Board, having reviewed document GCF/BM-2017/05 titled “Appointment of Members to the Budget Committee and the Risk Management Committee”:

1. Appoints Mr. Karma Tshering as member of the Budget Committee, for the remainder of the current term for members of the Budget Committee, starting on the date of adoption of this decision; and
2. Appoints Mr. Mamadou Honadia as member of the Risk Management Committee, for the remainder of the current term for members of the Risk Management Committee, starting on the date of adoption of this decision.

The Board, having considered document GCF/B.BM-2017/03 titled “Performance review of the members of the Accreditation Panel”:

1. Decides that, prior to the expiry of each of their terms of membership of the Accreditation Panel, each member of the Accreditation Panel shall undergo a performance review and that any such member shall only be eligible for a subsequent term of membership of the Accreditation Panel if the Board considers that the outcome of the relevant performance review is satisfactory;
2. Reaffirms the terms of reference, including the job description and qualifications, for the Accreditation Panel adopted in annex V to decision B.07/02, which will guide the performance review of each member of the Accreditation Panel;
3. Adopts the guiding principles and methodology for the performance review of members of the Accreditation Panel of the Green Climate Fund for the performance review set out in Annex II to this document;
4. Endorses the terms of reference for the performance review of the members of the Accreditation Panel, as contained in Annex III to this document;
5. Decides that the performance review of the members of the Accreditation Panel shall be undertaken by an independent consultant or firm, with the aim of presenting the outcome of such performance review to the Board for its consideration at its seventeenth meeting;
6. Requests the Secretariat to promptly procure the independent consultant or firm referred to in paragraph (e); and
7. Decides, on an exceptional basis, without setting a precedent and for practical and pragmatic reasons only, that:
   1. the next term of all members of the Accreditation Panel shall expire on 17 October 2020; and
   2. subject to the outcome of the performance review, no more than three of the current members of the Accreditation Panel may be reappointed to the Accreditation Panel for a second term.

The Board, having considered document GCF/B.16/21/Rev.01 titled “Work programme of the Secretariat for 2017 and adjusted administrative budget”:

1. Recognizes that the work programme of the Secretariat for 2017 will help to guide the activities and structure of the Secretariat;
2. Approves the priorities set out in the work programme of the Secretariat for 2017, in accordance with paragraph 23(e) of the Governing Instrument for the GCF;
3. Requests the Secretariat to provide a detailed and updated work plan for the Readiness and Preparatory Support Programme and to report on the progress made in its implementation at each Board meeting for the Board’s information; and
4. Approves the adjusted administrative budget for the period of 1 January to 31 December 2017, making the total approved administrative budget for fiscal year 2017 USD 46,784,071, recognizing that this increase is on an exceptional basis and does not establish a new standard budget level for items, including contractual services.

The Board, having considered document GCF/B.16/07 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 038 titled “GEEREF NeXt” by the European Investment Bank, as contained in document GCF/B.16/07/Add.10/Rev.02;
   2. Funding proposal 039 titled “GCF-EBRD Egypt renewable energy financing framework” by the European Bank for Reconstruction and Development, as contained in document GCF/B.16/07/Add.11/Rev.01;
   3. Funding proposal 040 titled “Tajikistan: scaling up hydropower sector climate resilience” by the European Bank for Reconstruction and Development, as contained in document GCF/B.16/07/Add.01 and 15;
   4. Funding proposal 041 titled “Simiyu climate resilience project” by KfW Bankengruppe, as contained in document GCF/B.16/07/Add.02 and 15;
   5. Funding proposal 042 titled “Irrigation development and adaptation of irrigated agriculture to climate change in semi-arid Morocco” by Agence Française de Développement, as contained in document GCF/B.16/07/Add.03 and 15;
   6. Funding proposal 043 titled “The Saïss water conservation project” by the European Bank for Reconstruction and Development, as contained in document GCF/B.16/07/Add.04 and 15;
   7. Funding proposal 044 titled “Tina river hydropower development project” by the World Bank, as contained in document GCF/B.16/07/Add.05 and 15;
   8. Funding proposal 045 titled “Ground water recharge and solar micro irrigation to ensure food security and enhance resilience in vulnerable tribal areas of Odisha” by the National Bank for Agriculture and Rural Development, as contained in document GCF/B.16/07/Add.06 and 15; and
   9. Funding proposal 046 titled “Responding to the increasing risk of drought: building gender-responsive resilience of the most vulnerable communities” by the United Nations Development Programme, as contained in document GCF/B.16/07/Add.07 and 15;
2. Approves funding proposal 038 for the amount of USD 265,000,000, submitted by the European Investment Bank, subject to the conditions set out in annex I and in the term sheet set out in document GCF/B.16/07/Add.10/Rev.02;
3. Also approves funding proposal 039 for the amount of USD 154,700,000, submitted by the European Bank for Reconstruction and Development, subject to the conditions set out in annex I and in the term sheet set out in document GCF/B.16/07/Add.11/Rev.01;
4. Further approves funding proposal 040 for the amount of USD 50,000,000, submitted by the European Bank for Reconstruction and Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15;
5. Approves funding proposal 041 for the amount of EUR 102,700,000, submitted by KfW Bankengruppe, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15;
6. Also approves funding proposal 042 for the amount of EUR 20,000,000, submitted by Agence Française de Développement, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15;
7. Further approves funding proposal 043 for the amount of EUR 31,970,000, submitted by the European Bank for Reconstruction and Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15;
8. Approves funding proposal 044 for the amount of USD 86,000,000, submitted by the World Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15, except for clause 20, Terms and Conditions Applicable to the GCF Loan;
9. Mandates the Secretariat, for funding proposal 044, to finalize prior to the execution of the funded activity agreement, the terms and conditions of the loan component in a manner consistent with the following terms pursuant to decision B.09/04:
   1. 50 per cent high concessional loan; and
   2. 50 per cent low concessional loan;
10. Approves funding proposal 045 for the amount of USD 34,357,000, submitted by the National Bank for Agriculture and Rural Development, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.16/07/Add.15;
11. Decides that there was no consensus to approve funding proposal 046;
12. Requests the Secretariat to assess the conditions set out in annex I and, in the event any such condition is considered by the Secretariat to be inconsistent with GCF policies, the Secretariat shall make a recommendation to the Board for further guidance and pending such guidance, the relevant condition shall be deemed not to apply;
13. Decides that if the conditions to be met prior to the execution or for the effectiveness of the funded activity agreement to be entered into in respect of each funding proposal have not been fulfilled within the time frames set out in annex I or the respective term sheet, the approval of such funding proposals shall be subject to reconsideration by the Board;
14. Requests the Secretariat to prepare a report on the conditions and time frames of all projects approved by the Board and the status of implementation for consideration by the Board no later than its eighteenth meeting;
15. Reaffirms that pursuant to annex VII to decision B.07/03 (annex VII to document GCF/B.07/11), the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition approved by the Board in this decision and in the decision accrediting the relevant accredited entity; and
16. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the interim policy on fees for accredited entities adopted by the Board pursuant to decision B.11/10.

A limited distribution decision was adopted under this agenda item:

DECISION B.16/03 on potential approaches to mobilizing funding at scale.

The Board, having considered document GCF/B.16/11 titled “Report on the status of the staffing of the Secretariat”:

Notes the contents of the report.

The Board, having considered document GCF/B.16/12 titled “Competitive procedure for the selection of the Trustee”:

1. Establishes the ad hoc Trustee Selection Committee as an ad hoc committee of the Board in accordance with paragraphs 2(g) and 30 of the Rules of Procedure of the Board;
2. Adopts the terms of reference of the ad hoc Trustee Selection Committee as set out in annex II;
3. Appoints the following four members of the Board to the ad hoc Trustee Selection Committee:
   1. Mr. Omar El-Arini;
   2. Mr. Zaheer Fakir;
   3. Mr. Larry McDonald; and
   4. Mr. Mikio Mori; and
4. Requests the ad hoc Trustee Selection Committee, with the support of the Secretariat, to convene immediately to begin its work.

A limited distribution decision was adopted under this agenda subitem:

DECISION B.16/06 on accreditation master agreements.

The Board having considered document GCF/B.16/18 titled “Interim work plan and interim budget of the Independent Evaluation Unit”:

1. Approves the work plan and budget of the Independent Evaluation Unit for March to June, 2017 as contained in document GCF/B.16/19 and annex III (total budgeted amount of USD 370,930), respectively;
2. Authorizes the Head of the Independent Evaluation Unit to undertake consultations as required to present a complete work plan and budget for 2017 at the seventeenth meeting of the Board; and
3. Also authorizes the Head of the Independent Evaluation Unit to undertake consultations to inform the outline of the Independent evaluation policy and undertake processes to set up the Independent Evaluation Unit.

The Board, having reviewed document GCF/B.16/22 titled “Date and venue of the following meetings of the Board”:

1. Confirms that the seventeenth meeting of the Board will take place in Songdo, Incheon, Republic of Korea, from Tuesday, 4 July 2017, to Thursday, 6 July 2017;
2. Decides that the eighteenth meeting of the Board will take place in the Arab Republic of Egypt from Tuesday, 3 October 2017, to Thursday, 5 October 2017, with these dates and the venue to be confirmed at the seventeenth meeting of the Board; and
3. Requests the Secretariat to initiate consultations with the host country, with the aim of finalizing the memorandum of understanding for the hosting of a Board meeting before the seventeenth meeting of the Board.

The Board, having considered document GCF/BM-2017/02 titled “Work plan of the Board for 2017”:

1. Approves the work plan of the Board for 2017, as set out in annex I;
2. Requests the Co-Chairs to update the work plan following each meeting of the Board;
3. Decides that the interim risk and investment guidelines adopted pursuant to decision B.13/36, paragraph (a) will expire the earlier of (i) the eighteenth meeting of the Board, or (ii) the adoption of an updated set of risk policies and guidelines;
4. Also decides to defer the first annual dialogue with climate finance delivery channels to its seventeenth meeting; and
5. Further decides to defer consideration of the following matters and requests the Secretariat, in consultation with the Co-Chairs and the relevant committees, panels, and groups of the Board, to progress its work on these matters, and to present them for consideration by the Board at the earliest possible opportunity:
   1. An operational framework on complementarity and coherence, which is also to form the basis for the cooperation of the Board with the Standing Committee on Finance requested pursuant to decision B.13/12;
   2. Options for the operationalization of the key elements of the operational framework on complementarity and coherence requested pursuant to decision B.13/12;
   3. Work programmes of the committees, panels, and groups of the Board that include the actions outlined in the Strategic Plan requested pursuant to decision B.12/20 (f);
   4. Mobilization of private sector finance to progress GCF forestry-related results areas requested pursuant to decision B.12/07, para. (f);
   5. The report with recommendations on the outcomes of the review of the guidelines on observer participation requested pursuant to decision B.BM2016/11;
   6. The review of the GCF Gender policy and Gender action plan requested pursuant to decision B.12/16;
   7. The policy on fees for accredited entities requested pursuant to decision B.11/10;
   8. The policy regarding the cases in which the high-level concessional terms and the low-level concessional terms for public sector proposal will apply requested pursuant to decision B.12/17;
   9. The results from an analysis of barriers to crowding-in and maximizing the engagement of the private sector, and the Private Sector Advisory Group recommendations requested pursuant to decision B.13/05; and
   10. The Private Sector Advisory Group recommendations on the development of a private sector outreach plan requested pursuant to decision B.13/05.

The Board, in accordance with decision B.08/20 and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations with the Fund:

Civil Society Organizations:

Asian-Pacific Resource and Research Centre for Women (ARROW)

Coalition for Green Capital (CGC)

Consorcio de Organizaciones Privadas de Promoción al Desarrollo de la Pequeña y Microempresa (COPEME)

Global Greens

Groups Focused Consultations (GFC)

Hivos

Practical Action

REN21

Root Capital Inc.

SKG Sangha

Private sector organizations:

Absolute Energy Capital (AEC)

Carbonium Czech Infrastructure Association

Foundation of Taiwan Industry Service (FTIS)

K4

KARX

Oxford Policy Management

Samil PricewaterhouseCoopers (Samil PwC)

International entities:

African Centre of Meteorological Applications for Development (ACMAD)

Austrian Development Agency (ADA)

Commission des Forêts d’Afrique Centrale (COMIFAC)

ECOWAS Centre for Renewable Energy and Energy Efficiency (ECREEE)

Institut de la Francophonie pour le développement durable (IFDD)

Inter-American Institute for Cooperation on Agriculture (IICA)

Japan International Cooperation Agency (JICA)

South Asia Co-operative Environment Programme (SACEP)

The Board, having reviewed document GCF/B.15/02 titled “Report on the activities of the Co-Chairs”:

1. Requests the Secretariat to prepare for consideration by the Board, at its seventeenth meeting, a fund-wide Indigenous peoples’ policy; and
2. Invites submissions from the members and alternate members of the Board, and observer organizations in relation to the development of the GCF Indigenous peoples’ policy by the sixteenth meeting of the Board.

The Board, having considered document GCF/B.15/05 titled “Implementation of the 2016 work plan: status of Co-Chairs’ consultations”:

1. Decides to extend consultations on the mandates given to the Co-Chairs as contained in decisions B.12/08, B.12/11–13, B.13/05 and B.14/07; and
2. Requests the Co‐Chairs with the support of the Secretariat to summarize the outcome of their consultations and to propose a draft decision in a written report to be transmitted to the Board at each meeting, in line with the Rules of Procedure of the Board.

The Board, having considered document GCF/B.15/04 titled “Guidance from the twenty- second session of the Conference of the Parties: Co-Chairs’ proposal”:

1. Takes note of the guidance from the Conference of the Parties to the United Nations Framework Convention on Climate Change at its twenty-second session, in particular UNFCCC decision X/CP.22,1 titled “Report of the Green Climate Fund to the Conference of the Parties and guidance to the Green Climate Fund”;
2. Requests the Secretariat to prepare a document for consideration by the Board at its sixteenth meeting that outlines the actions to be taken by the Board in order to facilitate an increase in proposals from direct access entities in the pipeline;
3. Decides to include, where feasible, gender consideration in all of the activities of the GCF;
4. Requests the Secretariat to include such information referred to in paragraph (b) above in its annual report to the Conference of the Parties to the United Nations Framework Convention on Climate Change;
5. Decides in accordance with paragraph 38 of Rules of Procedure of the Board to invite the Chairs of the Technology Executive Committee and the Advisory Board of the Climate Technology Centre and Network to present to the Board at its seventeenth meeting during its consideration of options for supporting collaborative research and development;

The Board, having considered document GCF/B.15/Inf.08 titled “Progress and outlook report of the Readiness and Preparatory Support Programme”:

1. Decides that, from the resources available in the GCF Trust Fund, up to an additional USD 50 million is to be made available for the execution of the Fund’s Readiness and Preparatory Support Programme (“Programme”);
2. Requests the Secretariat, recalling decision B.08/11, paragraph (j), and decision B.13/03, to present the results of the independent evaluation of the Programme to the Board no later than the last meeting in 2017, and to ensure that the results of the evaluation are taken into account when considering requests for resources for the Programme subsequent to the evaluation; and
3. Also requests the Secretariat to present the draft terms of reference for the independent evaluation of the Programme for Board consideration at the sixteenth meeting of the Board.

The Board, having considered document GCF/B.15/09 titled “Terms of reference for the annual review of the financial terms and conditions of the Green Climate Fund financial instruments”:

1. Adopts the terms of reference for the review of the financial terms and conditions of the Green Climate Fund’s financial instruments contained in annex I to this document; and
2. Requests the Secretariat to carry out such a review, with support from external consultants and in consultation with the Investment Committee, with the aim of submitting a review report to the Board at its sixteenth meeting, and no later than its seventeenth meeting.

The Board, having considered document GCF/B.15/12 titled “Terms of Reference of the Review of the structure and Effectiveness of the Technical Advisory Panel”:

1. Adopts the terms of reference of the review of the structure and effectiveness of the independent Technical Advisory Panel as set out in annex II;
2. Requests the Secretariat to commission an independent third party to conduct the review of the Technical Advisory Panel’s structure and effectiveness in accordance with the terms of reference adopted;
3. Also requests the Secretariat, in consultation with the Investment Committee, to provide the final report for the consideration of the Board at its seventeenth meeting; and
4. Notes that the review of the structure and effectiveness of the independent Technical Advisory Panel should take into consideration outcomes of the review of the initial proposal approval process.

The Board, having considered document GCF/B.15/13 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 028 titled “Business Loan Programme for GHG Emissions Reduction” by XacBank LLC, as contained in document GCF/B.15/13/Add.11/Rev.01;
   2. Funding proposal 029 titled “SCF Capital Solutions” by the Development Bank of Southern Africa, as contained in document GCF/B.15/13/Add.12/Rev.01;
   3. Funding proposal 030 titled “Catalyzing Private Investment in Sustainable Energy in Argentina – Part 1” by the Inter-American Development Bank, as contained in document GCF/B.15/13/Add.13/Rev.01;
   4. Funding proposal 033 titled “Accelerating the Transformational Shift to a Low- Carbon Economy in the Republic of Mauritius” by the United Nations Development Programme, as contained in document GCF/B.15/13/Add.06 and 18;
   5. Funding proposal 034 titled “Building Resilient Communities, Wetlands Ecosystems and Associated Catchments in Uganda” by the United Nations Development Programme, as contained in document GCF/B.15/13/Add.07 and 18;
   6. Funding proposal 035 titled “Climate Information Services for Resilient Development in Vanuatu (Van CIS RDP)” by the Secretariat of the Pacific Regional Environment Programme, as contained in document GCF/B.15/13/Add.08 and 18;
   7. Funding proposal 036 titled “Pacific Islands Renewable Energy Investment Program” by the Asian Development Bank, as contained in document GCF/B.15/13/Add.09 and 18; and
   8. Funding proposal 037 titled “Integrated Flood Management to Enhance Climate Resilience of the Vaisigano River Catchment in Samoa” by the United Nations Development Programme, as contained in document GCF/B.15/13/Add.10 and 18;
2. Decides to approve funding proposal 028 for the amount of USD 20,000,000, submitted by XacBank LLC, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
3. Also decides to approve funding proposal 029 for the amount of USD 12,222,222, submitted by the Development Bank of Southern Africa, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
4. Further decides to approve funding proposal 030 for the amount of up to USD 133,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
5. Decides to approve funding proposal 033 for the amount of USD 28,210,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
6. Also decides to approve funding proposal 034 for the amount of USD 24,140,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
7. Further decides to approve funding proposal 035 for the amount of USD 22,953,000, submitted by the Secretariat of the Pacific Regional Environment Programme, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
8. Decides to approve funding proposal 036 for the amount of USD 17,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
9. Also decides to approve funding proposal 037 for the amount of USD 57,718,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex III and in the respective term sheet set out in annex IV;
10. Requests the Co-Chairs to compile a list of policy matters arising from the consideration of funding proposals at the fifteenth meeting of the Board for inclusion in the report of the meeting;
11. Also requests the Co-Chairs to present a proposal to address these matters for the Board’s consideration at its sixteenth meeting;
12. Reaffirms that pursuant to annex VII to decision B.07/03, the Executive Director or his designee is authorized to negotiate and enter into legal agreements on behalf of the GCF with accredited entities and other parties involved in respect of funding proposals approved by the Board, taking into account any condition set by the Board in this decision and in the decision accrediting the relevant accredited entity; and
13. Authorizes the Secretariat to disburse fees for each funded project/programme approved by the Board as per the disbursement schedule to be agreed in the funded activity agreement in accordance with the interim policy on fees for accredited entities adopted by the Board pursuant to decision B.11/10.

The Board, having considered document GCF/B.15/15/Rev.01 titled “Competitive process for the selection of the Permanent Trustee” and annex II to the aforementioned document:

1. Requests the Secretariat to submit to the Board at its sixteenth meeting;
   1. Detailed terms of reference for the selection of the Permanent Trustee for the GCF in accordance with UNFCCC decision 1/CP.16 (paras. 104 – 107), as well as subsequent UNFCCC decisions on this matter, the Governing Instrument for the GCF (paras. 6, 18(o), 24, 25 and, 27) and relevant Board decisions; and
   2. A detailed plan for the competitive procedure for the selection of the Permanent Trustee; and
2. Also requests the Secretariat to take into account in developing the terms of reference of the procedure:
   1. The need for the assets of the GCF to be covered by the appropriate privileges and immunities; and
   2. The legal and institutional requirements of the contributors.

The Board, having considered document GCF/B.15/16 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the efforts that accredited entities are making in order to address their accreditation conditions as listed in annex V;
2. Also takes note of the accredited entities with accreditation conditions fulfilled and closed as determined by the Accreditation Panel and listed in annex V;
3. Further takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants:
   1. Applicant 043 (APL043) is the Foreign Economic Cooperation Office (FECO) of the Ministry of Environmental Protection of China, based in China, as contained in annex VI;
   2. Applicant 044 (APL044) is the Korea Development Bank (KDB), based in the Republic of Korea, as contained in annex VII;
   3. Applicant 045 (APL045) is PT Sarana Multi Infrastruktur (PT SMI), based in Indonesia, as contained in annex VIII;
   4. Applicant 046 (APL046) is the Central American Bank for Economic Integration (CABEI), based in Honduras, as contained in annex IX;
   5. Applicant 047 (APL047) is Fundación Avina (Fundación Avina), based in Panama, as contained in annex X;
   6. Applicant 048 (APL048) is Société de Promotion et de Participation pour la Coopération Economique (PROPARCO), based in France, as contained in annex XI; and
   7. Applicant 049 (APL049) is the World Wildlife Fund, Inc. (WWF), based in theUnited States of America, as contained in annex XII;
4. Accredits applicants APL043, APL044, APL045, APL046, APL047, APL048 and APL049 pursuant to paragraph 45 of the Governing Instrument for the GCF, and subject to, and in accordance with, the assessment by the Accreditation Panel contained in the relevant annexes for each of the applicants. A summary of the recommended accreditation types and conditions and/or remarks, if any, for each applicant is contained in annex XIV
5. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the relevant annex for the following applicants seeking to upgrade its accreditation type:
   1. Conservation International Foundation (CI), based in the United States of America, as contained in annex XIII;
6. Agrees to upgrade the accreditation type of Conservation International Foundation contained in decision B.10/06, paragraph (ix), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex XIII. A summary of the recommended upgrade in accreditation type and conditions and/or remarks, if any, is contained in annex XIV;
7. Takes note that, pursuant to decision B.08/03, paragraph (k), the Secretariat, in consultation with the Accreditation Panel, is proposing that the eligibility to apply under the fast-track accreditation process be extended to those entities listed in annex XV; and
8. Decides that those entities referred to in annex XV are also eligible to apply under the fast- track accreditation process for the standards of the GCF in accordance with decision B.08/03, paragraph (f), for entities accredited by the Adaptation Fund, and decision B.08/03, paragraph (g), for entities under the Directorate-General for International Development and Cooperation.