Project Preparation Facility - Process - 5. Implementation

The implementation of PPF activities begins following the Notification of Approval of the PPF application by the GCF.

Please be aware of the monitoring and reporting plan proposed in the PPF application and provide necessary documents to the GCF Secretariat.

Deviation in implementation plan and budget

Once a PPF grant enters implementation, and if a revision or adjustment to the original plan is required due to unforeseen events or change of circumstances, the AE should notify and seek guidance from the GCF as soon as the AE become aware of any revisions are required to the approved implementation plan.

Monitoring and reporting

Once the first disbursement of funds is made and the activities enter into implementation phase, the AEs are required to report to the GCF Secretariat on the progress made at the end of the reporting period. Please note the following points regarding the reporting:

• PPF activities are implemented according to the specifications of the agreed work plan and budget.
• A financial management system should be maintained, with separate accounts (i.e. bank account or ledger) and records for project.
• The AE reports to GCF, utilising the Progress Report template, on an agreed schedule, against the work plan, budget, and agreed targets; and proposes potential revisions or adaptations, as required, to future implementation plans.
• Financial statements should be prepared in accordance with consistently applied accounting standards, audited on an annual basis by reputable independent auditors, and furnished to the GCF Secretariat in accordance with the reporting requirements set in the proposal and/or grant agreement.
• Reports submitted to the GCF Secretariat will be disclosed on the GCF website.
• The GCF is able to request, audit and verify documents / reports and data related to the project execution upon request to the extent defined in the Grant Agreement or Readiness Framework Agreement.

Implementation will be carried out by the selected firm with instruction from the AEs. Detailed timeframe, duration and implementation details will be captured in subsequent contractual arrangements.