Project-specific Assessment Approach - Process - 3. Funding proposal and accreditation application review and CIC stage

Project-specific Assessment Approach

3. Funding proposal and accreditation application review, and CIC stage

  1. Following receipt of the PSAA accreditation application and FP package, the Secretariat conducts parallel technical reviews.

    • The PSAA accreditation application and funding proposal are sent to a PSAA review firm contracted by the Secretariat to conduct an institutional capacity and project track record assessment of the entity.
    • If the overall capacity rating is high or medium, the accreditation assessment and funding proposal are presented to the Secretariat’s Climate Investment Committee (CIC). This submission follows technical clearance from the GCF project team and receipt of all Non-objection letters (NOLs).
    • If the PSAA capacity rating is low, NDAs may request Readiness and Preparatory Support Programme (RPSP) resources to address the gaps identified.
    • The CIC decides whether to endorse the proposal for submission to the Independent Technical Advisory Panel (iTAP) for assessment and the Board for approval.
    • Following CIC endorsement, the entity pays the PSAA accreditation fees before proceeding to the iTAP assessment. Fees for the PSAA application shall be calculated at the ratio of 80 per cent of the fees payable under the Policy on fees for accreditation.
    • Accreditation fees are based on the total projected costs of the proposed climate project or programme at the time of the application. There are four categories which refer to the maximum total projected, irrespective of the portion that is funded by GCF for an individual project or programme.
      • Micro (up to and including USD 10 million): USD 800 for the basic fiduciary standards and USD 400 for each specialised fiduciary standard;
      • Small (above USD 10 million and up to and including 50 million): USD 4,000 for the basic fiduciary standards and USD 800 for each specialised fiduciary standard;
      • Medium (above USD 50 million and up to and including USD 250 million): USD 8,000 for basic fiduciary standards and USD 2,400 for each specialised fiduciary standard
      • Large (above USD 250 million): USD 20,000 for basic fiduciary standards and USD 5,600 for each specialised fiduciary standard

    Note: To move to CIC stage, the NOL(s) must be submitted.