Overview
This document provides a report on the review of the financial terms and conditions of the GCF financial instruments in accordance with decision B.09/04, in which the Board decided to review the financial terms and conditions of the GCF financial instruments on an annual basis, and decision B.15/05, wherein the Board adopted the terms of reference for the review. The review was led by the Investment Committee with the support of the Secretariat and an external consultancy firm.