Boardroom

The Board, having considered document GCF/B.24/16/Rev.01 titled “Workplan and budget of the Independent Integrity Unit for 2020”:

1. Approves the workplan and budget of the Independent Integrity Unit for 2020 as contained in annexes IX, X, and XI for the total budgeted amount of USD 2,638,044; and
2. Requests the Budget Committee and Ethics and Audit Committee to review the budget execution during 2020 and acknowledges that the Independent Integrity Unit may present to the Board, for its consideration at its twenty-sixth meeting, an additional budgetary request to execute its workplan for 2020.

The Board, having considered document GCF/B.24/03/Rev.01 titled “Independent Redress Mechanism Work Plan and Budget for 2020”:

Approves the workplan and budget of the Independent Redress Mechanism for 2020 as contained in annexes XII and XIII, respectively, for the total budgeted amount of USD 1,321,238.

The Board, having considered document GCF/B.24/02/Rev.02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   
   1. Funding proposal 082 titled “Catalyzing Climate Finance (Shandong Green Development Fund)”, by the Asian Development Bank, as contained in document GCF/B.24/02/Add.01, Add.10 and Add.18/Rev.01;
   2. Funding proposal 116 titled “Carbon Sequestration through Climate Investment in Forests and Rangelands in Kyrgyz Republic (CS-FOR)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.02 and Add.18/Rev.01;
   3. Funding proposal 117 titled “Implementation of the Lao PDR Emission Reductions Programme through improved governance and sustainable forest landscape management”, by the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, as contained in document GCF/B.24/02/Add.03 and Add.18/Rev.01;
   4. Funding proposal 118 titled “Building a Resilient Churia Region in Nepal (BRCRN)”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.04 and Add.18/Rev.01;
   5. Funding proposal 119 titled “Water Banking and Adaptation of Agriculture to Climate Change in Northern Gaza”, by the Agence Française de Developpement (AFD), as contained in document GCF/B.24/02/Add.05 and Add.18/Rev.01;
   6. Funding proposal 120 titled “Chile REDD+ RBP for results period 2014-2016”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.24/02/Add.06 and Add.18/Rev.01;
   7. Funding proposal 121 titled “REDD+ Results-based payments in Paraguay for the period 2015-2017”, by the United Nations Environment Programme, as contained in document GCF/B.24/02/Add.07 and Add.18/Rev.01;
   8. Funding proposal 122 titled “Blue Action Fund (BAF): GCF Ecosystem Based Adaptation Programme in the Western Indian Ocean”, by the Kreditanstalt für Wiederaufbau (KfW), as contained in document GCF/B.24/02/Add.08 and Add.18/Rev.01;
   9. Simplified approval process (SAP) funding proposal 008 titled “Extended Community Climate Change Project-Flood (ECCCP-Flood)”, by the Palli KarmaSahayak Foundation (PKSF), as contained in document GCF/B.24/02/Add.12 and Add.18/Rev.01;
   10. Simplified approval process (SAP) funding proposal 009 titled “Building resilience of urban populations with ecosystem-based solutions in Lao PDR”, by the United Nations Environment Programme, as contained in document GCF/B.24/02/Add.13 and Add.18/Rev.01;
   11. Simplified approval process (SAP) funding proposal 010 titled “Multi-Hazard Impact-Based Forecasting and Early Warning System for the Philippines”, by the Landbank of the Philippines, as contained in document GCF/B.24/02/Add.14 and Add.18/Rev.01;
   12. Simplified approval process (SAP) funding proposal 011 titled “Climate-resilient food security for women and men smallholders through integrated system-based risk management”, by the World Food Programme, as contained in document GCF/B.24/02/Add.15 and Add.18/Rev.01;
   13. Simplified approval process (SAP) funding proposal 012 titled “Inclusive Green Financing for Climate Resilient and Low Emission Smallholder Agriculture”, by the International Fund for Agricultural Development, as contained in document GCF/B.24/02/Add.16/Rev.01 and Add.18/Rev.01; and
2. Approves, pursuant to a vote in which 19 of the Board members present voted in favour and 2 of the Board members present voted against, and in respect of which 1 of the Board members present abstained from the vote, funding proposal 082 for the amount of USD 100,000,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
3. Decides, pursuant to the above-mentioned vote, in respect of funding proposal FP082, that the Asian Development Bank may seek further approval of the Board at meetings of the Board or through decisions between meetings of commitment of further funding in an amount, when aggregated with the amounts previously approved by the Board, no greater than USD 180,000,000, subject to the conditions set out in annex XIV;
4. Approves funding proposal 116 for the amount of USD 29,988,520, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
5. Also approves funding proposal 117 for the amount of EUR 15,160,596, submitted by the Deutsche Gesellschaft fuer Internationale Zusammenarbeit (GIZ) GmbH, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
6. Further approves funding proposal 118 for the amount of USD 39,299,905, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
7. Approves funding proposal 119 for the amount of EUR 23,709,782, submitted by the Agence Française de Developpement, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
8. Also approves funding proposal 120 for the amount of USD 63,607,552, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
9. Further approves funding proposal 121 for the amount of USD 50,000,000, submitted by the United Nations Environment Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
10. Approves funding proposal 122 for the amount of EUR 30,000,000, submitted by the Kreditanstalt für Wiederaufbau (KfW), subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
11. Also approves simplified approval process (SAP) funding proposal 008 for the amount of USD 9,681,340, submitted by the Palli Karma-Sahayak Foundation, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
12. Further approves simplified approval process (SAP) funding proposal 009 for the amount of USD 10,000,000, submitted by the United Nations Environment Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
13. Approves simplified approval process (SAP) funding proposal 010 for the amount of USD 9,999,042, submitted by the Landbank of the Philippines, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
14. Also approves simplified approval process (SAP) funding proposal 011 for the amount of USD 9,250,000, submitted by the World Food Programme, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
15. Further approves simplified approval process (SAP) funding proposal 012 for the amount of EUR 8,500,000, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex XIV and in the respective term sheet set out in document GCF/B.24/02/Add.18/Rev.01;
16. Reaffirms that, pursuant to annex IV to decision B.17/09, 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
17. 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 policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered the limited distribution document GCF/B.24/05 titled “Status of approved funding proposals: Extension of deadline in respect of FP104 (Nigeria Solar IPP Support Program)”:

1. Decides to extend the deadline until 23 February 2020 for the submission by the accredited entity of a certificate or legal opinion, in form and substance satisfactory to the Secretariat, confirming that the accredited entity has obtained all final internal approvals needed by it and has the capacity and authority to implement the proposed project for the following approved funding proposal:
   
   1. FP104, titled “Nigeria Solar IPP Support Program”.

The Board, having considered document GCF/B.24/07/Rev.01 titled “Consideration of accreditation proposals”:

1. 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 090 (APL090) is the National Committee for Sub-National Democratic Development Secretariat (NCDDS) based in Cambodia, as contained in annex XV;
   2. Applicant 091 (APL091) is CRDB Bank Limited (CRDB) based in the United Republic of Tanzania, as contained in annex XVI;
   3. Applicant 092 (APL092) is Finanzas y Negocios Servicios Financieros Limitada (FYNSA) based in Chile, as contained in annex XVII;
   4. Applicant 093 (APL093) is IL&FS Environmental Infrastructure and Services Limited (IEISL) based in India, as contained in annex XVIII;
   5. Applicant 094 (APL094) is Yes Bank Limited (Yes Bank) based in India, as contained in annex XIX;
   6. Applicant 095 (APL095) is Cassa Depositi e Prestiti S.p.A. (CDP) based in Italy, as contained in annex XX; and
   7. Applicant 096 (APL096) is Save the Children Australia (SCA) based in Australia, as contained in annex XXI;
2. Approves the accreditation of applicants APL090, APL091, APL092, APL093, APL094, APL095 and APL096, pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants and completion of Stage III of the accreditation by having an effective accreditation master agreement, in accordance with decision B.23/11;
3. 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 XXII;
4. Decides that those entities referred to in annex XXII are also eligible to apply under the fast-track accreditation process for the standards of GCF in accordance with decision B.08/03, paragraph (g), for entities under the Adaptation Fund; and
5. Recalling decision B.21/15, paragraph (e), decides that future accreditation decisions by the Board should aim to bring forward accredited entities that fulfil the mandate consistent with the Governing Instrument on balance, diversity and coverage and advance the objectives of GCF and, to that end, also decides to prioritize up to the end of the twentyfifth meeting of the Board the following, not listed in order of priority:
   
   1. National direct access entities nominated for accreditation by national designated authorities or focal points of countries that do not have an accredited direct access national entity;
   2. Private sector entities, in particular those in developing countries, seeking a balance of diversity of entities in line with decision B.09/07, paragraph (g) and decision B.10/06, paragraph (h);
   3. Entities responding to requests for proposal issued by the Green Climate Fund, for example, including a pilot phase for enhancing direct access; a pilot programme to support micro, small and medium-sized enterprises; and a pilot programme to mobilize resources at scale in order to address adaptation and mitigation;
   4. Accredited entities seeking fulfilment of their conditions for accreditation; and
   5. Accredited entities requesting upgrades in their accreditation scope.

The Board, having considered document GCF/B.24/15 titled “Updated Gender Policy and Gender Action Plan 2020–2023”:

1. Takes note of the Secretariat’s report of the survey findings on the direct costs and benefits associated with the implementation of the policy and acknowledges the progress made in the implementation of the Gender Policy and Gender Action Plan as presented in section III of annex V to the document;
2. Also takes note of the gender action plan of the United Nations Framework Convention on Climate Change and related matters regarding gender-sensitive and gender-responsive climate policy;
3. Requests the Secretariat, in its annual reports to the Board, to provide a GCF-focused implementation perspective related to gender-responsive climate policy;
4. Confirms that, in order to support capacity-building to access GCF resources:
   
   1. National designated authorities and focal points may request readiness and preparatory support from GCF to develop and/or strengthen their capacities, policies, procedures and competencies to meet the requirements of the updated Gender Policy of the GCF and the Gender Action Plan of the GCF 2020–2023; and
   2. Direct access entities may request support from the Project Preparation Facility to support the project-level requirements of the updated Gender Policy of the GCF and Gender Action Plan 2020–2023;
5. Adopts the updated Gender Policy of the GCF as presented in annex XXIII, acknowledging the progress made in advancing gender balance and gender equality within the context of climate change policies and in line with individual country circumstances when applying said policy;
6. Also adopts the Gender Action Plan of the GCF 2020–2023, as contained in annex XXIV; and
7. Requests the Secretariat to implement the Gender Action Plan for the period of 2020 to 2023 and the associated gender indicators, as contained in annexes XXIV and XXV, respectively.

The Board, having considered document GCF/B.24/06 titled “Matters related to the accreditation framework”:

1. Adopts the re-accreditation process set out in annex XXVI, applying mutatis mutandis the initial guiding framework for the GCF accreditation process as contained in decision B.07/02, expecting not to create a disproportionate burden for the accredited entities; and
2. Decides to defer its consideration of the project-specific assessment approach as contained in annex XXVII until the twenty-fifth meeting of the Board.

The Board, having considered document GCF/B.24/04 titled “Review of the initial investment framework: Policy on co-financing”:

1. Adopts the Policy on Co-financing as set out in annex XXVIII;
2. Decides that the Policy on Co-financing will apply to funding proposals approved at the twenty-sixth meeting of the Board and thereafter;
3. Requests the Secretariat to design and implement a capacity-building programme, as part of the Readiness and Preparatory Support Programme, to support direct access accredited entities in the implementation of the Policy on Co-financing, including its reporting and evaluation requirements;
4. Also requests the Secretariat to update the templates for concept notes and funding proposals to reflect the Policy on Co-financing by the twenty-fifth meeting of the Board, in keeping with the Secretariat’s current practice of updating templates no more than once per year;
5. Further requests the Secretariat to recommend for the Board’s consideration the modality for the review of the Policy on Co-financing as part of the overall GCF policy review and update cycle, ensuring consistency with other relevant policies and building upon lessons learned and implementation challenges identified in the application of this policy;
6. Requests the Secretariat to report relevant financial data defined in the Policy on Cofinancing no later than 2021 on the basis of 2020 data to inform relevant processes and relevant institutions collecting international development finance data, including those informing assessments by the Standing Committee on Finance and the reporting for the Biennial Reports under the United Nations Framework Convention on Climate Change, as appropriate; and
7. Also requests the Secretariat to continue to work on the collaboration with relevant bilateral and multilateral institutions as well as on capacity-building with a view to introduce an instrument-based methodology to report mobilized private finance.

The Board:

1. Takes note of the consultations and comments submitted on the draft Evaluation Policy;
2. Confirms that the Evaluation Policy is a GCF-wide policy that guides the Board, the Secretariat, the Independent Evaluation Unit, other independent units, accredited entities and national designated authorities/focal points;
3. Also confirms that the Independent Evaluation Unit and the Secretariat jointly clarify and delineate the roles, responsibilities and accountabilities in the Evaluation Policy;
4. Agrees to amend the terms of reference for the Head of the Independent Evaluation Unit (see annex V to decision B.10/05) as contained in annex XXIX;
5. Requests the Independent Evaluation Unit and the Secretariat to present the draft Evaluation Policy for consideration no later than the twenty-fifth meeting of the Board;
6. Also requests the Independent Evaluation Unit to present the detailed procedures and guidelines for the effective operation of the Independent Evaluation Unit for consideration by the Board at its twenty-fifth meeting; and
7. Further requests the Secretariat, in consultation with the Independent Evaluation Unit, to develop monitoring protocols, toolkits and guidelines that take into account the Evaluation Policy and the integrated results management framework, which will be submitted for the Board’s consideration at its twenty-fifth meeting.

The Board, having considered document GCF/B.24/08 titled “Dates and venues of upcoming meetings of the Board”:

Confirms that the twenty-fifth meeting of the Board will take place from Tuesday, 10 March to Thursday, 12 March 2020.

The Board, having considered the limited distribution document GCF/BM-2019/12 titled “Consideration of request for changes in pricing and tenor in respect of FP080 (Zambia Renewable Energy Financing Framework)”:

1. Takes note of the request submitted through Ref: PEVP/IOM/WS/2019/02 dated 4 September 2019 from the African Development Bank for the revision of financing terms for the “Zambia Renewable Energy Financing Framework” (FP080) and attachments thereto, as contained in document GCF/BM-2019/12; and
2. Approves the major changes to FP080 described in the request.

The Board, having considered document GCF/BM-2019/11 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:

University of Melbourne (UoM) Wildlife Conservation Society (WCS)

International entities:

Mediterranean Agronomic Institute of Bari (CIHEAM Bari)

The Board, having considered document GCF/B.23/07 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2018”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2018 as contained in annex I.

The Board, having considered document GCF/B.23/21/Add.01/Rev.01 titled “Report on the activities of the Co-Chairs – Addendum I: Updated workplan of the Board for 2019” and document GCF/B.23/21/Add.02 titled “Report on the activities of the Co-Chairs – Addendum II: Approach to developing the environmental and social safeguards of GCF”:

1. Takes note of the updated Board workplan for 2019, as set out in annex II;
2. Decides to defer consideration of the Evaluation Policy of the GCF to its twenty-fourth meeting;
3. Also 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 present these for consideration by the Board at its twenty-fifth meeting:
   
   1. Initial analysis of options to minimize the effects of currency fluctuations on the commitment authority of GCF requested pursuant to decision B.21/14, paragraph (j); and
   2. Review of the effectiveness of the committees, panels and group established by the Board requested pursuant to decision B.20/04, paragraph (b);
4. Further decides to delegate the following matter to the Secretariat with the proviso to bring any recommendations requiring Board attention back to the Board:
   
   1. Reviewed administrative guidelines on procurement requested pursuant to decision B.08/21, decision B.12/39, paragraph (a), and decision B.17/01, paragraph (c);
5. Requests the Secretariat to conduct further consultations with active observers and accredited observer organizations in relation to the comprehensive review of the participation of observers in the activities of the Board, with a view to identifying existing gaps and needed improvements, and to presenting a report with recommendations on the outcomes of the review for consideration by the Board when the matter is considered;
6. Takes note of the proposed approach and options for developing the GCF environmental and social safeguards contained in the annex to document GCF/B.23/21/Add.02;
7. Requests the Secretariat to proceed with the development of the GCF environmental and social safeguards, based on the approach presented in the annex to document GCF/B.23/21/Add.02, section 4.1, titled “GCF interim environmental and social safeguards with revisions and enhancements”;
8. Approves a budget of USD 399, 200 for the development of the GCF environmental and social safeguards. This amount will be added to the Secretariat’s administrative budget; and
9. Further requests the Secretariat to present the GCF environmental and social safeguards for the Board’s consideration at its second meeting in 2021.

The Board, having considered document GCF/B.23/09 titled “Co-Chairs consultations: decision-making in the event that all efforts at reaching consensus have been exhausted”:

1. Adopts the procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted as set out in annex III;
2. Confirms that the procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted shall only be used as a last resort;
3. Requests the Co-Chairs to continue to enhance the effectiveness of pre-Board meeting consultations in an open, inclusive, consultative and transparent matter; and
4. Also requests the Co-Chairs to consult and present to the Board for its consideration, not later than the twenty-fourth meeting of the Board, a proposal regarding the next steps in the event that during the application of the procedure referred to in section VI of annex III, any Board member expresses the view that they are unable to join consensus regarding the outcome of such procedure.

The Board, having considered document GCF/B.23/10 titled “Eighth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

Requests the Co‐Chairs, assisted by the Secretariat, to finalize the “Eighth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex II to document GCF/B.23/10, taking into consideration the comments made and decisions taken at the twenty-third meeting of the Board, and submit the revised report to the United Nations Framework Convention on Climate Change secretariat no later than 12 weeks prior to the twenty-fifth session of the Conference of the Parties, in accordance with decision 7/CP.20, paragraph 23.

The Board, having considered the document titled “Report of the Performance Oversight Committee of the Heads of Independent Units to the Board”:

1. Takes note of the report of the Performance Oversight Committee as contained in annex IV;
2. Decides, based on the recommendations by the Performance Oversight Committee, to convey its intention to offer reappointment to the Heads of the following Independent Units:
   
   1. Independent Integrity Unit;
   2. Independent Evaluation Unit; and
   3. Independent Redress Mechanism Unit;
3. Requests the Co-Chairs to conduct the necessary work to make sure that all Heads of Independent Units will be in post, including negotiating the terms of the contract for the reappointed Heads of Independent Units, in accordance with the approved detailed terms of reference for Heads of Independent Units (annex VI to document GCF/B.22/21), in prior consultation with the Budget Committee, and signing, on behalf of the GCF, the new employment contract between the said Heads of Independent Units and the GCF;
4. Also requests the Performance Oversight Committee to consider, in close consultation with the GCF Secretariat and the Budget Committee, a policy related to the performance-based increment increases in payment for the Heads of Independent Units and submit it to the Board for its consideration;
5. Further requests the Performance Oversight Committee to consider the development of the annual performance evaluation of the three Heads of Unit and the Executive Director, in line with the relevant decisions and guidelines including annex X to the approved decision B.17/12 titled “Performance criteria and measurement procedures of the Executive Director of the Green Climate Fund Secretariat”, and to submit the same to the Board for its consideration; and
6. Decides that the Performance Oversight Committee will engage an independent external human resources firm for the purpose of the following tasks, in consultation with the Budget Committee, following a procurement process in accordance with the Administrative Guidelines on Procurement and supported by the Secretariat:
   
   1. Assisting the Co-Chairs in negotiating and concluding the terms of contract with the reappointed Heads of Independent Units;
   2. Assisting the Performance Oversight Committee in developing and carrying out the annual regular performance evaluation of the Heads of Independent Units and the Executive Director; and
   3. Assisting the Performance Oversight Committee in developing the policy related to the introduction of performance-based pay increase as referred to in paragraph 4 above, if need arises.

The Board, having considered document GCF/B.23/20 titled “Forward-Looking Performance Review of the GCF”:

1. Takes note of the first review of the performance of the GCF by the Independent Evaluation Unit as requested in decision B.21/17;
2. Also takes note of the findings and recommendations presented in the final report of the Forward-Looking Performance Review of the GCF;
3. Requests the Secretariat to provide a management response to the Forward-Looking Performance Review of the GCF to the Board at its twenty-fourth meeting; and
4. Decides to continue its consideration of this matter at the twenty-fourth meeting of the Board.

The Board, having considered document GCF/B.23/03 titled “Period of the first replenishment of the GCF”:

1. Decides that the first replenishment of the GCF would secure financing for a four-year programming period from 1 January 2020 to 31 December 2023; and
2. Requests the Secretariat to incorporate the four-year replenishment period in the update to the policies for contributions for the first replenishment of the GCF.

The Board, having considered document GCF/B.23/11 titled “Policy on ethics and conflicts of interest for active observers of the Green Climate Fund”:

1. Adopts the Policy on Ethics and Conflicts of Interest for Active Observers of the Green Climate Fund as set out in annex V to this document;
2. Also decides to amend section III, paragraph 6 of the Policy on Prohibited Practices, adopted by the Board pursuant to decision B.22/19, paragraph (a), to include the definition of “Active Observers” as follows: “Active Observers” has the meaning given to that term in the Rules of Procedure of the Board;
3. Further decides to amend the definition of “Covered Individual” in section III, paragraph 6(f) of the Policy on Prohibited Practices, adopted by the Board pursuant to decision B.22/19, paragraph (a), and replace it with the following: “Covered Individual” means GCF Personnel, Co-Chairs of the Board, Board and Alternate Members, their Advisers, Board- Appointed Officials, External Members and Active Observers; and
4. Requests the Secretariat to publish a consolidated version of the Policy on Prohibited Practices taking into account the amendments referred to in paragraphs (b) and (c) above.

The Board:

1. Takes note of the oral report made by the two Board members entrusted by the Co-Chairs with facilitating the discussions on the updated Gender Policy;
2. Welcomes the progress made in the consultations on the document;
3. Requests the Secretariat to present an assessment of implementation considerations, including direct costs and benefits associated with the implementation of the Gender Policy, as well as an assessment of the capacity within the Secretariat, direct access entities and other accredited entities, and national designated authorities/focal points to implement such Policy; and
4. Also requests the Secretariat to present for consideration of the Board at its twenty-fourth meeting a revised updated Gender Policy and an updated Gender Action Plan, building on the progress made in the consultations on the draft document so far and the assessment of the Secretariat on the implementation considerations, with a view to circulate it to Board members and alternate members with sufficient time for consultations to occur between Board members and alternate members prior to its finalization and publication in accordance with paragraph 21 of the Rules of Procedure of the Board.

The Board, having considered document GCF/B.23/02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   
   1. Funding proposal 107 titled “Supporting Climate Resilience and Transformational Change in the Agriculture Sector in Bhutan”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.01 and Add.14;
   2. Funding proposal 108 titled “Transforming the Indus Basin with Climate Resilient Agriculture and Water Management”, by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.23/02/Add.02 and Add.14;
   3. Funding proposal 109 titled “Safeguarding rural communities and their physical and economic assets from climate induced disasters in Timor-Leste”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.03 and Add.14;
   4. Funding proposal 110 titled “Ecuador REDD-plus RBP for results period 2014”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.04 and Add.14;
   5. Funding proposal 111 titled “Promoting climate-resilient forest restoration and silviculture for the sustainability of water-related ecosystem services”, by the InterAmerican Development Bank, as contained in document GCF/B.23/02/Add.05 and Add.14;
   6. Funding proposal 112 titled “Addressing Climate Vulnerability in the Water Sector (ACWA) in the Marshall Islands”, by the United Nations Development Programme, as contained in document GCF/B.23/02/Add.06 and Add.14;
   7. Funding proposal 113 titled “TWENDE: Towards Ending Drought Emergencies: Ecosystem Based Adaptation in Kenya’s Arid and Semi-Arid Rangelands”, by the International Union for Conservation of Nature, as contained in document GCF/B.23/02/Add.07 and Add.14;
   8. Funding proposal 114 titled “Program on Affirmative Finance Action for Women in Africa (AFAWA): Financing Climate Resilient Agricultural Practices in Ghana”, by the African Development Bank, as contained in document GCF/B.23/02/Add.10;
   9. Funding proposal 115 titled “Espejo de Tarapacá”, by MUFG Bank, Ltd., as contained in document GCF/B.23/02/Add.11; and
   10. Simplified approval process (SAP) funding proposal 007 titled “'Integrated Climate Risk Management for Food Security and Livelihoods in Zimbabwe focusing on Masvingo and Rushinga Districts”, by the World Food Programme, as contained in document GCF/B.23/02/Add.12 and Add.14;
2. Approves funding proposal 107 for the amount of USD 25,347,194, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
3. Also approves funding proposal 108 for the amount of USD 34,990,832, submitted by the Food and Agriculture Organization of the United Nations, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
4. Further approves funding proposal 109 for the amount of USD 22,356,805, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
5. Approves funding proposal 110 for the amount of USD 18,571,766, submitted by the United Nations Development Programme, subject to the conditions set out annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
6. Also approves funding proposal 111 for the amount of USD 35,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
7. Further approves funding proposal 112 for the amount of USD 18,631,216, submitted by the United Nations Development Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
8. Approves funding proposal 113 for the amount of USD 23,152,082, submitted by the International Union for Conservation of Nature, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
9. Also approves funding proposal 114 for the amount of USD 20,000,000, submitted by the African Development Bank, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.10; and
   
   1. Recognizes that there is an opportunity to explore further options to improve the financial structure regarding increasing the grant portion of the GCF funding, to the benefit of the most vulnerable women; and encourages the accredited entity, in consultation with the national designated authority, to consider using the Policy on Restructuring and Cancellation to amend funding proposal 114 accordingly;
10. Further approves funding proposal 115 for the amount of USD 60,000,000, submitted by MUFG Bank, Ltd., subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.11;
11. Approves simplified approval process (SAP) funding proposal 007 for the amount of USD 8,858,316, submitted by the World Food Programme, subject to the conditions set out in annex XI and in the respective term sheet set out in document GCF/B.23/02/Add.14;
12. Reaffirms that, pursuant to annex IV to decision B.17/09, 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
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 policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered document GCF/B.23/05 titled “Updated accreditation framework”:

1. Decides that the accreditation process as defined in annex I to decision B.07/02 is considered complete upon the effectiveness of the accreditation master agreement in Stage III of the accreditation process, and that such date of effectiveness shall serve as the start of the accreditation term for all entities accredited to GCF, including those accredited prior to the date of this decision;
2. Recalling decision B.14/08, paragraph (d)(i), decision B.18/04, paragraph (c), decision B.19/13, paragraph (c), and decision B.21/16, paragraph (e), decides that future accreditation decisions by the Board should aim to bring forward accredited entities that fulfil the mandate on balance, diversity and coverage and advance the objectives of GCF, and to that end decides to prioritize up to the end of the twenty-fourth meeting of the Board the following, not listed in order of priority:
   
   1. National direct access entities nominated for accreditation by national designated authorities or focal points of countries that do not have a national accredited direct access entity;
   2. Private sector entities, in particular those in developing countries, seeking a balance of diversity of entities in line with decision B.09/07, paragraph (g), and decision B.10/06, paragraph (h);
   3. Entities responding to requests for proposals issued by GCF, for example, including a pilot phase for enhancing direct access; a pilot programme to support micro, small, and medium-sized enterprises; and a pilot programme to mobilize resources at scale in order to address adaptation and mitigation;
   4. Accredited entities seeking fulfilment of their conditions for accreditation; and
   5. Accredited entities requesting upgrades in their accreditation scope;
3. Agrees the principle of the project-specific assessment approach, as contained in section VII in annex II to document GCF/B.23/05, that combines assessments undertaken during the existing accreditation and proposal approval processes in a fit-for-purpose manner; and
4. Decides to defer its consideration of the updated accreditation framework and the implementation arrangements and budget for the project-specific assessment approach until the twenty-fourth meeting of the Board.

The Board, having considered document GCF/B.23/13 titled “Consideration of restructuring paper for FP015 ‘Tuvalu Coastal Adaptation Project (TCAP)’ – RP1” and its addendum Add.01 titled “Consideration of restructuring paper – Addendum I”:

1. Takes note of the restructuring paper for FP015 titled “Tuvalu Coastal Adaptation Project (TCAP)”, by the United Nations Development Programme, as contained in document GCF/B.23/13/Add.01;
2. Approves the major change to FP015 described in the restructuring paper for FP015, subject to the conditions set out in annex VI to this document; and
3. Reaffirms that, pursuant to the Policy on Restructuring and Cancellation, the Secretariat is authorized to negotiate and execute the amendment to the funded activity agreement for FP015, which shall reflect the major change described in the restructuring paper for FP015 and the list of conditions set out in annex VI to this document.

The Board, having considered document GCF/B.23/04 titled “Consideration of accreditation proposals”:

1. 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 086 (APL086) is the Banco Nacional de Desenvolvimento Econômico e Social (BNDES, the Brazilian Development Bank), based in Brazil, as contained in annex IV of document GCF/B.23/04;
   2. Applicant 087 (APL087) is the Ministry of Water and Environment (MWE) of Uganda, as contained in annex V of document GCF/B.23/04;
   3. Applicant 088 (APL088) is Ecobank Ghana Limited (EGH), based in Ghana, as contained in annex VI of document GCF/B.23/04; and
   4. Applicant 089 (APL089) is Enabel, based in Belgium, as contained in annex VII of document GCF/B.23/04;
2. Accredits applicants APL086, APL087, APL088 and APL089 pursuant to paragraph 45 of the Governing Instrument for the GCF, and subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants;
3. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant annexes for the following applicants seeking to upgrade their accreditation type:
   
   1. Infrastructure Development Company Limited (IDCOL), based in Bangladesh, as contained in annex VIII of document GCF/B.23/04; and
   2. Secretariat of the Pacific Regional Environment Programme (SPREP), based in Samoa, as contained in annex IX of document GCF/B.23/04;
4. Agrees to upgrade the accreditation type of the Infrastructure Development Company Limited (IDCOL) as contained in decision B.17/05, paragraph (b), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex VIII of document GCF/B.23/04;
5. Also agrees to upgrade the accreditation type of Secretariat of the Pacific Regional Environment Programme (SPREP) as contained in decision B.09/07, paragraph (b), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex IX of document GCF/B.23/04;
6. Takes note that, pursuant to decision B.08/03, paragraph (k), and that the entity, as contained in paragraph (a)(ii) above and listed in annex VII, was reviewed under the normal track as per the assessment contained in annex V of document GCF/B.23/04, 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 VII; and
7. Decides that those entities referred to in annex VII are also eligible to apply under the fasttrack accreditation process for the standards of GCF in accordance with decision B.08/03, paragraph (g), for entities under the Adaptation Fund.

The Board, having reviewed document GCF/B.23/06 titled “Risk management framework: compliance risk policy – proposal by the Risk Management Committee”:

Adopts the risk management framework component VIII – compliance risk policy, as set out in annex VIII.

The Board, having considered document GCF/B.23/22 titled “Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy”:

1. Adopts the “Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy” contained in annex IX;
2. Reiterates its request (decision B.14/01, paragraph (f)) for the Accreditation Committee, in consultation with the Head of the Independent Integrity Unit, to consider the best way to integrate the Anti-Money Laundering and Countering the Financing of Terrorism Policy in the interim fiduciary standards and present to the Board a proposal for its consideration in 2019 as a matter of urgency;
3. Requests the Secretariat and the Independent Integrity Unit to develop standard operating procedures, subject to the approval of the Ethics and Audit Committee, to operationalize these Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy and the Anti-Money Laundering and Countering the Financing of Terrorism Policy in 2019 as a matter of urgency; and
4. Also requests the Secretariat to implement the GCF Anti-Money Laundering and Countering the Financing of Terrorism Policy, the Standards for the Implementation of the Anti-Money Laundering and Countering the Financing of Terrorism Policy, the Policy on Prohibited Practices and other integrity-related matters in a coherent manner while fully respecting the scope and provisions of the respective policies, and further requests the Secretariat to amend the accreditation master agreement template, as approved by the Board in decision B.12/31, to ensure consistency with the scope of the Anti-Money Laundering and Countering the Financing of Terrorism Policy such that clause 9.03(a) reads as follows:

apply its own fiduciary principles and standards relating to any ‘know your customer’ checks, AML/CFT, and financial sanctions imposed by the United Nations Security Council, which should enable it to comply with the Policy on Prohibited Practices and the principles of the AML/CFT Policy.

and that clause 9.03(b) reads as follows:

unless prohibited by law applicable to the Accredited Entity, not use GCF Proceeds or Other GCF Funds for the purposes of any payment to individuals or entities, or for the import of goods, if such payment or import is prohibited by a Decision as may be adopted from time to time by the Board or by a financial sanction of the United Nations Security Council.

The Board, having considered document GCF/B.23/14 titled “Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

1. Adopts the Policy on the Prevention and Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment as set out in annex X to this document (the Policy);
2. Requests the Accreditation Committee, in consultation with the Head of the Independent Integrity Unit, to consider the best ways to update and amend, as appropriate, the requirements placed on accredited entities in the relevant standards, safeguards and policies of the GCF so as to integrate the obligations set out in this Policy, including, but not limited to, the:
   
   1. Initial basic fiduciary standards, pursuant to decision B.07/02, paragraph (b);
   2. Environmental and social safeguards, pursuant to decision B.07/02, paragraph (d), and decision B.19/10, paragraph (c), as relevant; and
   3. Gender Policy and Gender Action Plan pursuant to decision B.09/11, paragraphs (a)–(b); and present to the Board for its consideration such updates and amendments no later than the twenty-fourth meeting of the Board as a matter of urgency;
3. Also requests the Secretariat, in consultation with the Head of the Independent Integrity Unit, to establish rules and procedures, as appropriate, in accordance with, and for the purpose of implementing, the Policy, and report to the Board on the actions no later than the twenty-fourth meeting of the Board;
4. Further requests the Secretariat to assess the cost implications of the implementation of this Policy and submit to the Budget Committee a budget request for its consideration as required;
5. Requests the Independent Integrity Unit to provide a report on experiences and lessons learned to the Board one year after the entry into effect of this Policy, which may include recommendations for how to improve the Policy and its implementation; and
6. Also requests the Secretariat to report annually to the Board on the implementation of this Policy.

The Board, having considered limited distribution document GCF/B.23/15 titled “Cost implications of the implementation of the Interim Policy on the Protection from Sexual Exploitation, Sexual Abuse, and Sexual Harassment”:

1. Approves the total budget of USD 90,000 for the year 2019 for the implementation of the Interim Policy on the Protection from Sexual Exploitation, Sexual Abuse and Sexual Harassment as set out in table 1 of document GCF/B.23/15; and
2. Notes the limited experience of GCF in handling such cases and that the budgets provided are estimates. Therefore, both the Secretariat and the Independent Integrity Unit will need to monitor these budgets constantly to ensure that the policy continues to be enforced at the expected level.

The Board, having considered document GCF/B.23/08 titled “Dates and venues of upcoming meetings of the Board”:

1. Decides that the twenty-fourth meeting of the Board will take place from Tuesday, 12 November to Thursday, 14 November 2019 in Songdo, Incheon, Republic of Korea;
2. Also decides that the twenty-fifth meeting of the Board will take place from Tuesday, 10 March to Thursday, 12 March 2020 in Songdo, Incheon, Republic of Korea;
3. Further decides that the twenty-sixth meeting of the Board will take place from Tuesday, 23 June to Thursday, 25 June 2020 in Songdo, Incheon, Republic of Korea;
4. Decides that the twenty-seventh meeting of the Board will take place from Thursday, 22 October to Saturday, 24 October 2020;
5. Requests the Secretariat to present the following for consideration by the Board at its twenty-fifth meeting:
   
   1. A cost-benefit analysis for Board meetings held outside of the GCF Headquarters, including non-cost elements; and
   2. Options for engaging with stakeholders and understanding the realities experienced in developing countries.

The Board, having considered document GCF/BM-2019/10 titled “Extension of the terms of the external members of the Private Sector Advisory Group” and through a decision taken between meetings on a no-objection basis:

1. Takes note that the current terms of external members of the Private Sector Advisory Group end on 30 June 2019; and
2. Decides, on an exceptional basis and without prejudice to any future decisions of the Board regarding the appointment of external members of the Private Sector Advisory Group, to extend the terms of the following external members of the Private Sector Advisory Group until 30 March 2020 or the date on which the Board finalizes the review of the effectiveness of committees and group established by the Board of the GCF pursuant to decision B.20/04, paragraph (b), whichever occurs earlier:
   1. Mr. Dipal Chandra Barua;
   2. Mr. Jay Koh;
   3. Mr. Gerry Lemcke;
   4. Mr. Torben Moger Pedersen;
   5. Mr. Aurelio Souza;
   6. Mr. Hiroyuki Tezuka;
   7. Mr. Rodrigo Violic;
   8. Mr. Inderpreet Wadhwa; and
   9. Mr. Kevin Whitfield.

The Board, having considered document GCF/BM-2019/09 titled “Accreditation of observer organizations” and through a decision taken between meetings on a no-objection basis:

Approves the accreditation of the following organizations as observer organizations to the GCF:

Civil society organizations:

• Actions Communautaires pour le Développement Intégral (ACDI)
• Appui pour la Valorisation et la Promotion des Initiatives Privées (NGO AVPIP)
• Association Nationale de Volontariat (ANV)
• Caribbean Natural Resources Institute (CANARI)
• Centre for Environmental Justice (Guarantee) Limited (CEJ)
• Research and Grant Institute of Ghana (REGIG)
• University of Colorado, Boulder

Private sector organizations:

• Continental Reinsurance Plc (CRE)

The Board, having considered document GCF/BM-2019/08 titled “Revised terms of reference for the review of the financial terms and conditions of the GCF financial instruments”:

1. Approves the revised terms of reference for the review as set out in annex I;
2. Takes note of the first review of the financial terms and conditions of the GCF financial instruments led by the Investment Committee as set out in annex II;
3. Requests the Secretariat to conduct biennial reviews of the financial terms and conditions of the GCF financial instruments, as set out in annex II to decision B.09/04, based on the approved revised terms of reference and to report biennially the outcome of such review to the Board; and
4. Decides that Board approval for subsequent changes to the revised terms of reference for the review of the financial terms and conditions of the GCF financial instruments will only be necessary in the case that such changes are considered material by the Secretariat and the Investment Committee.

The Board:

1. Appoints Ms. Lorena Palomo as a member of the Investment Committee, replacing Mr. Ignacio Lorenzo Arana, effective immediately, for the remainder of the current term; and 
2. Also appoints Mr. Ali Gholampour as a member of the Risk Management Committee, effective immediately, for the remainder of the current term.

The Board, having considered document GCF/B.22/09/Add.01 titled “Report on the activities of the Co-Chairs – Addendum I: Updated workplan of the Board for 2019”:

1. Welcomes the guidance from the Conference of the Parties at its twenty-fourth session, in particular, decision -/CP.24,  “Report of the Green Climate Fund to the Conference of the Parties and guidance to the Green Climate Fund”;
2. Requests the Co-Chairs, with the support of the Secretariat, to include in the GCF annual report to the Conference of the Parties information on progress made in response to the guidance;
3. Adopts the revised workplan of the Board for 2019, as contained in annex I;
4. Decides to defer the consideration of policies and procedures for contributions from philanthropic foundations and other non-public and alternative sources to the workplan for 2020; and
5. Further decides to defer the review of the Project Preparation Facility to the twenty-fifth meeting of the Board and urges the Independent Evaluation Unit to complete its evaluation for consideration by the Board.

The Board, having considered the report of the ad hoc Executive Director Selection Committee as contained in GCF/B.22/Inf.11/Add.01, and after deliberations: (a) Takes note of decision B.21/06 on the selection process for the appointment of the Executive Director of the GCF Secretariat;

1. Takes note of decision B.21/06 on the selection process for the appointment of the Executive Director of the GCF Secretariat;
2. Decides to select Mr. Yannick Glemarec for the post of the Executive Director of the independent Secretariat of the GCF for a four-year term;
3. Requests the Co-Chairs, with support as needed from the executive search firm, to negotiate the terms of the contract, in accordance with the approved terms of reference for the position (annexed to decision B.21/06) and performance criteria and measurement procedures (annexed to decision B.17/12); and
4. Authorizes the Co‐Chairs to sign, on behalf of the GCF, the contract between Mr. Yannick Glemarec and the GCF.

The Board, having considered document GCF/B.22/21 titled “Performance Oversight of the Heads of Independent Units”:

1. Confirms the need to engage an independent external human resources firm to support the Performance Oversight Committee of the Executive Director and Heads of the Independent Units;
2. Adopts the terms of reference of the independent external human resources firm, as set out in annex II to this document;
3. Decides that the Performance Oversight Committee of the Executive Director and Heads of the Independent Units will engage the independent external human resources firm following a procurement process in accordance with the Administrative Guidelines on Procurement and supported by the Secretariat; and
4. Authorizes the Co-Chairs to approve the budget for the performance evaluation of the Heads of the Independent Units, including the costs of the independent external human resources firm, and requests that the Budget Committee oversee the execution of the budget with the Secretariat.

This matter was considered by the Board in an executive session.

A limited distribution decision was adopted under this agenda item: 

DECISION B.22/05 on matters regarding the Board Policy on Ethics and Conflicts of Interest for Board-appointed Officials.

The Board, having considered documents GCF/B.22/Inf.13 titled “Report on the implementation of the initial Strategic Plan of the GCF: 2015–2018”, GCF/B.22/17 titled “Synthesis of Board submissions on the update of the Strategic Plan of the Green Climate Fund” and GCF/B.22/Inf.12 titled “Strategic Programming for the Green Climate Fund First Replenishment”:

1. Takes note of the submissions made by Board and alternate members on the update of the Strategic Plan of the GCF (document GCF/B.22/17), as requested by decision B.21/18;
2. Also takes note of the information presented by the Secretariat in the comprehensive report on the implementation of the initial Strategic Plan of the GCF, which notes the substantial progress made by the GCF over its initial resource mobilization period (2015−2018), as well as challenges, lessons learned and opportunities for consideration in future strategic planning;
3. Agrees that the Strategic Plan will continue to guide the GCF as a continuously learning institution in further developing its operational modalities and performance, with a view to achieving its overarching objective to promote the paradigm shift towards low-emission and climate-resilient development pathways in the context of sustainable development, and in particular that an updated Strategic Plan will:
   
   1. Reflect the mandate of the GCF as outlined in its Governing Instrument and as an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change also serving the Paris Agreement;
   2. Acknowledge that the GCF has reached a more mature stage of operations and be informed by lessons learned from the initial resource mobilization period;
   3. Update the core operational priorities and underlying action plan with a view to continuous improvement of the accessibility, efficiency, effectiveness, impact, scale and reach of the GCF;
4. Requests the Secretariat, under the guidance of the Co-Chairs, to present an update to the initial Strategic Plan for consideration by the Board at its twenty-fourth meeting, and that this take into account:
   
   1. Consultation with Board and alternate members, as well as submissions made by Board and alternate members and views expressed during the twenty-second and twenty-third meetings of the Board;
   2. An inclusive process of engagement with GCF stakeholders, including national designated authorities/focal points, accredited entities, advisory groups, active observers and observer organizations;
   3. Findings from the performance review of the GCF and the outcome of the Board’s consideration of that review;
5. Invites Board and alternate members, as well as national designated authorities, representatives of accredited entities, members of the Private Sector Advisory Group, active observers and observer organizations, to submit input on the update of the Strategic Plan to the Secretariat by 30 April 2019 to inform work under paragraph (d); and
6. Requests the Secretariat to publish all submissions on the GCF website.

The Board, having considered document GCF/B.22/10/Rev.01 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   
   1. Funding proposal 100 titled “REDD-PLUS results-based payments for results achieved by Brazil in the Amazon biome in 2014 and 2015”, by the United Nations Development Programme, as contained in document GCF/B.22/10/Add.02 and Add.17/Rev.02;
   2. Funding proposal 101 titled “Resilient Rural Belize (Be-Resilient)”, by the International Fund for Agricultural Development, as contained in document GCF/B.22/10/Add.03 and Add.17/Rev.02;
   3. Funding proposal 102 titled “Mali solar rural electrification project”, by the Banque Ouest Africaine de Développement, as contained in document GCF/B.22/10/Add.04 and Add.17/Rev.02;
   4. Funding proposal 103 titled “Promotion of Climate-Friendly Cooking: Kenya and Senegal”, by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, as contained in document GCF/B.22/10/Add.05, Add.07 and Add.17/Rev.02;
   5. Funding proposal 104 titled “Nigeria Solar IPP Support Program”, by the Africa Finance Corporation, as contained in document GCF/B.22/10/Add.11;
   6. Funding proposal 105 titled “BOAD Climate Finance Facility to Scale Up Solar Energy Investments in Francophone West Africa LDCs”, by the Banque Ouest Africaine de Développement, as contained in document GCF/B.22/10/Add.12;
   7. Funding proposal 106 titled “Embedded Generation Investment Programme (EGIP)”, by the Development Bank of Southern Africa, as contained in document GCF/B.22/10/Add.13/Rev.01;
   8. Simplified approval process (SAP) funding proposal 005 titled “Enhanced climate resilience of rural communities in central and north Benin through the implementation of ecosystem-based adaptation (EbA) in forest and agricultural landscapes”, by the United Nations Environment Programme, as contained in document GCF/B.22/10/Add.14 and Add.17/Rev.02; and
   9. Simplified approval process (SAP) funding proposal 006 titled “Building resilience of communities living in landscapes threatened under climate change through an ecosystems-based adaptation approach”, by the Environmental Investment Fund, as contained in document GCF/B.22/10/Add.15 and Add.17/Rev.02;
2. Approves funding proposal 100 for the amount of USD 96,452,228, 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 document GCF/B.22/10/Add.17/Rev.02;
3. Endorses the recommendations of the independent Technical Advisory Panel relating to funding proposal 100 referred to in annex III;
4. Approves funding proposal 101 for the amount of USD 8,000,000, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.17/Rev.02;
5. Also approves funding proposal 102 for the amount of EUR 25,968,612, submitted by the Banque Ouest Africaine de Développement, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.17/Rev.02;
6. Decides in respect of funding proposal 102 that the Banque Ouest Africaine de Développement may seek further approval of the Board at meetings of the Board or through decisions without a Board meeting of commitment of further funding in an amount, when aggregated with the amounts previously approved by the Board, no greater than EUR 35,341,699, subject to the conditions set out in annex III;
7. Approves funding proposal 103 for the amount of EUR 16,509,000, submitted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, as described in the addendum to the funding proposal set out in document GCF/B.22/10/Add.07, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.17/Rev.02;
8. Decides in respect of funding proposal 103 that the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH may seek further approval of the Board at meetings of the Board or through decisions without a Board meeting of commitment of further funding in an amount, when aggregated with the amounts previously approved by the Board, no greater than EUR 38,360,000, subject to the conditions set out in annex III;
9. Approves funding proposal 104 for the amount of USD 100,000,000, submitted by the Africa Finance Corporation, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.11;
10. Also approves funding proposal 105 for the amount of EUR 61,000,000, submitted by Banque Ouest Africaine de Développement, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.12;
11. Further approves funding proposal 106 for the amount of USD 100,000,000, 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 document GCF/B.22/10/Add.13/Rev.01;
12. Approves simplified approval process (SAP) funding proposal 005 for the amount of USD 9,000,000, submitted by the United Nations Environment Programme, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.17/Rev.02;
13. Also approves simplified approval process (SAP) funding proposal 006 for the amount of USD 8,904,000, submitted by the Environmental Investment Fund, subject to the conditions set out in annex III and in the respective term sheet set out in document GCF/B.22/10/Add.17/Rev.02;
14. Reaffirms that, pursuant to annex IV to decision B.17/09, 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
15. 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 policy on fees and the general principles and indicative list of eligible costs covered under GCF fees and project management costs adopted by the Board pursuant to decision B.19/09.

The Board, having considered the limited distribution document GCF/B.22/Inf.08/Add.01 titled “Board decisions proposed between the twenty-first and twenty-second meetings of the Board – Addendum I: Additional update on FP017 (Climate Action and Solar Energy Development Programme in the Tarapacá Region in Chile)”:

1. Decides, in respect of FP017 titled “Climate Action and Solar Energy Development Programme in the Tarapacá Region in Chile”, to:
   
   1. Approve the material change to FP017 described in limited distribution document GCF/B.22/Inf.08/Add.01; and
   2.  Authorize the Secretariat to negotiate and execute the funded activity agreement, including all its schedules, which shall reflect the material change to the terms as described in document GCF/B.22/Inf.08/Add.01 and the following covenants:
      1. If the cash sweep occurs, the accredited entity shall make all possible efforts to seek all relevant information from, and engage in discussions with, the project company, the sponsor and all other relevant parties to seek to verify the continuing financial and operational viability of the funded activity as a going concern and, if appropriate in the circumstances, seek to identify through such discussions any necessary or desirable modifications to the financing of the project; and
      2. The accredited entity shall contractually require the sponsor to ensure that the entity to which any of the awarded power purchase agreements are transferred makes all possible efforts to procure energy from renewable sources, in addition to the energy supplied by the project, in satisfaction of such awarded power purchase agreements.

The Board, having considered document GCF/B.22/02 titled “Consideration of accreditation proposals”:

1. 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 077 (APL077) is the Alternative Energy Promotion Centre (AEPC), based in Nepal, as contained in annex IV of document GCF/B.22/02;
   2. Applicant 078 (APL078) is the Environmental Project Implementation Unit (EPIU) of the Ministry of Nature Protection of the Republic of Armenia, as contained in annex V of document GCF/B.22/02;
   3. Applicant 079 (APL079) is the Fondo Mexicano para la Conservación de la Naturaleza A.C. (FMCN), based in Mexico, as contained in annex VI of document GCF/B.22/02;
   4. Applicant 080 (APL080) is the National Fund for Environment and Climate (FNEC) of Benin, as contained in annex VII of document GCF/B.22/02;
   5. Applicant 081 (APL081) is the Pacific Community (SPC), based in New Caledonia, as contained in annex VIII of document GCF/B.22/02;
   6. Applicant 082 (APL082) is JS Bank Limited (JS Bank), based in Pakistan, as contained in annex IX of document GCF/B.22/02;
   7. Applicant 083 (APL083) is Attijariwafa Bank (AWB), based in Morocco, as contained in annex X of document GCF/B.22/02;
   8. Applicant 084 (APL084) is Macquarie Alternative Assets Management Limited (MAAML), based in Australia, as contained in annex XI of document GCF/B.22/02; and
   9. Applicant 085 (APL085) is the Luxembourg Agency for Development Cooperation (LuxDev), based in Luxembourg, as contained in annex XII of document GCF/B.22/02;
2. Accredits applicants APL077, APL078, APL079, APL080, APL081, APL082, APL083, APL084 and APL085 pursuant to paragraph 45 of the Governing Instrument for the GCF, and subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant annexes for each of the applicants;
3. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the relevant annex for the following applicant seeking to upgrade its accreditation type:
   
   1. United Nations Environment Programme (UN Environment), based in Kenya, as contained in annex XIII of document GCF/B.22/02;
4. Agrees to upgrade the accreditation type of the United Nations Environment Programme (UN Environment) as contained in decision B.10/06, paragraph (c), subject to, and in accordance with, the assessment by the Accreditation Panel contained in annex XIII of document GCF/B.22/02;
5. 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 XIV of document GCF/B.22/02; and
6. Decides that those entities referred to in annex XIV of document GCF/B.22/02 are also eligible to apply under the fast-track accreditation process for the standards of GCF in accordance with decision B.08/03, paragraph (g), for entities under the DirectorateGeneral for International Development and Cooperation.

The Board, having considered document GCF/B.22/03 titled “Independent Evaluation of the Green Climate Fund’s Readiness and Preparatory Support Programme (RPSP) − Final Report” and its Add.01 titled “Secretariat management response”:

1. Takes note of the findings and recommendations presented in the report by the Independent Evaluation Unit;
2. Also takes note of the Secretariat management response to the report of the Independent Evaluation Unit contained in GCF/B.22/03/Add.01;
3. Welcomes that the Secretariat has incorporated recommendations from the evaluation report by the Independent Evaluation Unit into its revised workplan and presented it at the twenty-second meeting of the Board; and
4. Recommends that the Secretariat report on the implementation of the recommendations in subsequent Readiness and Preparatory Support Programme reports.

The Board, having considered document GCF/B.22/08 titled “Readiness and Preparatory Support Programme: Strategy for 2019−2021 and Work Programme 2019”:

1. Reaffirms that the Readiness and Preparatory Support Programme is a strategic priority for the GCF to enhance country ownership and access to the GCF;
2. Takes note of the document and the proposed work programme for 2019 as contained in section VII of document GCF/B.22/08;
3. Notes that the revision to the Readiness and Preparatory Support Programme as mandated by decision B.19/15, paragraph (f) is based on the outcome of the conclusions of the Secretariat’s initial review and of the independent evaluation of the Readiness and Preparatory Support Programme;
4. Recalls decision B.08/11, paragraph (g), and reaffirms that readiness requests will be assessed to ensure complementarity with existing readiness activities;
5. Welcomes the proposed Readiness and Preparatory Support Programme Strategy for 2019–2021;
6. Adopts the objectives and outcomes for the revised Readiness and Preparatory Support Programme, as contained in annex IV;
7. Reaffirms that countries can continue to access resources through the Readiness and Preparatory Support Programme in accordance with decision B.13/09 and decision B.13/32;
8. Encourages national designated authorities and delivery partners to develop multiple-year strategic readiness requests as described in annex V;
9. Decides that the Secretariat may accept multiple-year readiness requests, allocating up to USD 3 million for three years, while committing no more than USD 1 million per country per year, which is in addition to the national adaptation plans and/or other adaptation planning processes allocation as referred to in paragraph (g) above and in accordance with decision B.13/09, paragraph (f);
10. Requests the Secretariat to present a document for the consideration of the Board at its twenty-fifth meeting that includes an assessment of the following elements:
    
    1. Actions taken and progress achieved by countries to date on the implementation and outcomes of approved readiness activities with a view to reviewing the progress in the implementation of the Readiness and Preparatory Support Programme Strategy for 2019–2021 including, if and as needed, a reassessment of the per-year, per-country readiness commitments to individual developing member countries adopted by the Board pursuant to decision B.08/11, paragraph (f); and
    2. The impacts on the Readiness and Preparatory Support Programme, if any, of Board decisions taken on the:
       1. First formal replenishment of the GCF;
       2. Review of the accreditation framework; and
       3. Recommendations from the independent evaluation of the Readiness and Preparatory Support Programme;
11. Notes the estimated budget for the period 2019−2021 as contained in section VII of document GCF/B.22/08;
12. Approves an additional amount of USD 122.5 million to be made available for the execution of the Readiness and Preparatory Support Programme, and
13. Requests the Secretariat to report on the implementation of the Readiness and Preparatory Support Programme Strategy 2019−2021 at the first meeting of every calendar year, including the outcomes of the monitoring framework.

The Board, having considered document GCF/B.22/07 titled “Results management framework: Independent Evaluation Unit recommendations to improve the Results Management Framework: Final Report”:

1. Takes note of the findings and recommendations presented in the Independent Evaluation Unit report;
2. Also takes note of the Secretariat management response to the Independent Evaluation Unit report in document GCF/B.22/07/Add.01; and
3. Directs that the Secretariat present to the Board at its twenty-fourth meeting a report on the implementation of the Independent Evaluation Unit recommendations.

The Board, having considered document GCF/B.22/07/Add.01 titled “Results management framework: Independent Evaluation Unit recommendations to improve the Initial Results Management Framework – Addendum I: Secretariat management response”:

1. Takes note of the Secretariat management response and proposed action plan contained in document GCF/B.22/07/Add.01, including actions currently being undertaken by the Secretariat to strengthen results management;
2. Requests the Secretariat to present for the Board’s consideration a revised results management framework and updated performance management frameworks from those adopted by decisions B.07/04 and B.08/07, respectively, no later than the twenty-fourth meeting of the Board, that integrate relevant Board decisions, policies and frameworks related to results management across the GCF process cycles, to the extent possible, including developing measurement, reporting and verification systems/methodologies for indicators in consultation with the relevant experts and thematic bodies, as mentioned in the summary and narrative recommendations of the Independent Evaluation Unit contained in document GCF/B.22/07;
3. Also requests the Secretariat to develop, for the Board’s consideration at its twenty-third meeting, a proposal to respond to gaps in the current portfolio for measurement and evaluation design and/or evidence generation, including delivery modalities and a proposed budgetary estimate; and
4. Further requests the Secretariat to ensure that accredited entities should adequately budget costs related to data collection and baseline assessment as part of project costs to establish credibility of results reporting.

The Board, having considered document GCF/B.22/04 titled “Cancellation and restructuring policy”:

1. Adopts the policy on restructuring and cancellation as set out in annex VI;
2. Requests the Secretariat to implement the policy and to provide a report on the implementation of the policy for the Board’s consideration and further guidance no later than three years from the date of this decision;
3. Also requests the Secretariat to report back to the Board, as part of its regular pipeline and portfolio update, on the implementation of this policy; and
4. Further requests the Secretariat to inform national designated authorities and focal points of the policy on restructuring and cancellation as set out in annex VI.

The Board, having considered document GCF/B.22/05 titled “Investment criteria indicators”:

1. Adopts the investment criteria indicators for a pilot period of one year as set out in annex VII to this decision; and
2. Takes note of the actions by the Secretariat as set out in annex VIII.

The Board, having considered matters related to the review of the accreditation framework:

1. Takes note of the report on the review of the accreditation framework in annex IX;
2. Decides to streamline the accreditation process in order to accelerate the review and consideration of entities applying for accreditation;
3. Requests the Secretariat to implement the recommendations identified in annex X; and
4. Also requests the Accreditation Committee, with the support of the Secretariat, to consult with the Board and alternate members, accredited entities and national designated authorities and focal points on matters related to the review of the accreditation framework as contained in annexes XI and XII, and present an updated accreditation framework for consideration and adoption by the Board at its twenty-third meeting.

The Board, having considered document GCF/B.22/06 titled “Updated Gender Policy and Action Plan 2019–2021”:

Decides to continue the consideration of the Updated Gender Policy and Action Plan 2019−2021 with a view that it will be presented for the consideration and approval of the Board at its next meeting.