Boardroom

The Board, having considered document GCF/B.17/06 titled “Report on the execution of the 2017 administrative budget of the GCF as at 31 May 2017”:

Takes note of document GCF/B.17/06.

The Board, having considered document GCF/B.17/07 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2016”:

Approves the audited financial statements of the GCF for the year ended 31 December 2016 as contained in annex XXI.

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.

Two limited distribution decisions were adopted under this agenda sub-item:

1. DECISION B.15/10 on accreditation master agreements; and
2. DECISION B.15/11 also on accreditation master agreements.

The Board, having considered document GCF/B.15/19 titled “Independent Redress Mechanism Unit work plan & budget for 2017”:

1. Approves the work plan and budget of the Independent Redress Mechanism Unit for 2017 as contained in document GCF/B.15/19 and annex XVI to this document (total budgeted amount of USD 999,141), respectively;
2. Invites the Head of the Independent Redress Mechanism Unit to consult with the Ethics and Audit Committee in the implementation of the work plan, including the consultation process, as appropriate;
3. Authorizes the Head of the Independent Redress Mechanism Unit to undertake consultations on the revised terms of reference for the Independent Redress Mechanism in accordance with decision B.13/24, and present a draft revised terms of reference for the Board’s consideration at its sixteenth meeting; and
4. Also authorizes the Head of the Independent Redress Mechanism Unit to undertake consultations on the detailed guidelines and procedures for the operation of the Independent Redress Mechanism, and present a draft of the same for the Board’s consideration no later than at its eighteenth meeting.

The Board, having considered document GCF/B.15/20 titled “Draft 2017 workplan and budget for the Independent Integrity Unit”:

Approves the work plan and budget of the Independent Integrity Unit for 2017 as contained in document GCF/B.15/20, and annex XVII to this document (total budgeted amount of USD 1,017,791), respectively.

The Board, having reviewed document GCF/B.15/21 titled “Administrative budget of the Green Climate Fund for 2017”:

1. Takes note of the original recommendation of the Budget Committee to approve a total administrative budget for the calendar year 2017 of USD 45,666,356;
2. Approves an administrative budget of the Green Climate Fund for the period from 1 January 2017 to 31 December 2017 in the amount of USD 43,401,071, including USD 3,125,835 in staff costs approved by decision B.05/20 (annex XVIII to this document); and
3. Requests the Secretariat to submit a 2017 work plan and any required budget adjustments for the consideration of the Board at its sixteenth meeting.

The Board, having considered document GCF/B.15/22 (limited distribution) titled “Options for the operationalization of the Fund’s Administrative Tribunal”:

1. Decides to recognize the jurisdiction of the administrative tribunal of the International Labour Organization in respect of disputes involving a member of staff of the Secretariat or any of the independent accountability units;
2. Recognizes that judgments handed down by the administrative tribunal of the International Labour Organization in respect of staff of the Secretariat and the independent accountability units will be legally binding on the GCF;
3. Requests the Executive Director to take the necessary steps to notify the Governing Body of International Labour Organization of the Board’s decision to recognize the jurisdiction of the administrative tribunal of the International Labour Organization;
4. Also requests the Secretariat to notify the Board once the Governing Body of International Labour Organization has approved of the Board’s decision on this matter and the arrangements for addressing disputes involving a member of staff of the Secretariat or any of the independent accountability units have become operational;
5. Decides, pending the approval referred to in paragraph (d) above, that any disputes involving a member of staff of the Secretariat or any of the independent accountability units which have exhausted all internal dispute settlement procedures without resolution shall be referred to international arbitration, to be determined by a sole arbitrator with expertise in international administrative law;
6. Requests the Secretariat to make the necessary arrangements for such international arbitration as a matter of urgency; and
7. Decides that the GCF shall bear all administrative costs in connection with such arbitration, including the arbitrator’s fees and relevant institutional costs but excluding the staff member’s legal costs, unless the arbitrator determines otherwise.

The Board:
Elects Mr. Ayman Shasly and Mr. Ewen McDonald as the Co-Chairs for a period of one year.

The Board, having reviewed document GCF/B.15/23 titled “Dates and venues of following meetings of the Board”:

Decides that:

1. The sixteenth meeting of the Board will be held from Tuesday, 4 April 2017, to Thursday, 6 April 2017, in Songdo, Incheon, Republic of Korea;
2. The seventeenth meeting of the Board will be held from Tuesday, 4 July 2017, to Thursday, 6 July 2017, in Songdo; with these dates to be confirmed at the sixteenth meeting of the Board; and
3. The eighteenth meeting of the Board will be held from Tuesday, 3 October 2017, to Thursday, 5 October 2017, in Songdo, with these dates to be confirmed at the seventeenth meeting of the Board.

The Board, having reviewed document GCF/BM-2016/18 titled “Appointment of a member to the Private Sector Advisory Group of the Board”:

Appoints Mr. Nauman Bhatti as member of the Private Sector Advisory Group, for a term starting on the date of adoption of this decision.

The Board, having noted the report GCF/BM-2016/16 “Annual dialogue with climate finance delivery channels”:

Decides to defer the annual dialogue with climate finance delivery channels to the sixteenth meeting of the Board.

The Board,

1. Decides to defer the consideration of the mobilization of private sector finance to progress the GCF forestry‐related results areas to its sixteenth meeting and to include this item in the work plan for 2017 for consideration by the Board accordingly;
2. Also decides to defer the alternative policy approaches for consideration at its seventeenth meeting;
3. Further decides to defer the presentation and consideration of the risk and investment guidelines to its sixteenth meeting;
4. Decides to defer the consideration of the pilot programme on mobilizing resources at scale to its fifteenth meeting;
5. Notes that the Head of the Integrity Unit is to develop the full set of policies relating to prohibited practices, anti-money laundering and countering the financing of terrorism and present these to the Board for its consideration as early as feasible in 2017 as a matter of urgency;
6. Further requests the Accreditation Committee in consultation with the Head of the Independent Integrity Unit to consider the best way to integrate such policies in the interim fiduciary standards, and present to the Board a proposal for its consideration as early as feasible in 2017 as a matter of urgency;
7. Decides to defer the review of the Gender policy and action plan to its sixteenth meeting;
8. Decides to conduct the review of the independent Technical Advisory Panel as part of the review of the initial proposal approvals process at B.15, in consultation with the Investment Committee;
9. Also decides to defer the consideration of the policies and procedures for contributions from philanthropic foundations and other non-public and alternative sources to the Initial Resource Mobilization process to its seventeenth meeting;
10. Also decides to defer the consideration of the approval of the administrative budget and work programme of the Secretariat for 2017-2019 to its fifteenth meeting;
11. Also decides to defer the consideration of the open competitive process for the selection of the permanent Trustee to its fifteenth meeting; and
12. Decides to continue its consideration of the operational guidelines for the simplified approval process in conjunction with the review of the initial approval process.

The Board, having reviewed document GCF/B.14/02 titled “Support for facilitating access to environmentally sound technologies and for collaborative research and development”,

1. Acknowledges that current GCF modalities enable support for technology development and transfer, including for facilitating access to environmentally sound technologies and for collaborative research and development;
2. Also acknowledges that guidance, rules, modalities referenced in paragraph (a) above, and procedures that are to be developed to implement the Paris Agreement may require later consideration by the Board, in line with guidance received from the Conference of the Parties to the United Nations Framework Convention on Climate Change and/or the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement once the Paris Agreement enters into force, consistent with Article 10, paragraph 5, of the Paris Agreement,
3. Encourages national designated authorities and focal points to access readiness support directly, or to collaborate with readiness delivery partners and accredited entities to submit readiness requests, concept notes, funding proposals and Project Preparation Facility proposals that will facilitate access to environmentally sound technologies, consistent with a country-driven approach and will encourage the involvement of relevant stakeholders, including vulnerable groups and addressing gender aspects
4. Decides to continue enhancing cooperation and coherence of engagement with the Technology Executive Committee and the Climate Technology Centre and Network, pursuant to decisions B.13/10 to B.13/12, including through requesting the Secretariat to provide recommendations on further steps to enhance cooperation and coherence for consideration by the seventeenth meeting of the Board, and in the context of the Fund’s operational framework on complementarity and coherence and the annual event with the thematic bodies of the United Nations Framework Convention on Climate Change;
5. Encourages national designated authorities/focal points to coordinate with the Climate Technology Centre and Network’s national designated entities in order to enhance cooperation; and
6. Requests the Secretariat to prepare a document for consideration by the Board at its seventeenth meeting identifying concrete options on how the GCF can support collaborative research and development in developing countries, in line with the operational modalities of the GCF, taking into account decisions B.13/11 and B.13/12, and in the context of operational framework for complementarity and coherence with climate finance delivery channels.

The Board, having considered document GCF/B.14/03 titled “Support for REDD-plus”,1

1. Recognizes the need to complement other sources and types of finance, and that the GCF can support the development of national REDD-plus strategies or action plans and investment plans, including through the Readiness and Preparatory Support Programme, 2 and that the fund can support the implementation of national REDD-plus strategies or action plans;3
2. Requests the Secretariat to develop for consideration by the Board at its sixteenth meeting:
   
   1. A request for proposals for REDD-plus results-based payments, including guidance consistent with the Warsaw Framework for REDD+ and other REDD-plus decisions under the United Nations Framework Convention on Climate Change, taking into account topics included in sections 4.1 and 4.2 of document GCF/B.14/03 and decision B.08/08; and
   2. Further guidance to support efforts by national designated authorities and focal points to engage with the GCF in early phases of REDD-plus using existing GCF modalities, tools and programmes; and
3. Also requests the Secretariat to implement, with the advice of the Co-Chairs, a process for stakeholder and expert input to support its work under this decision and provide a progress report to the Board at its fifteenth meeting.

The Board,

1. Decides by consensus to select Mr. Howard Bamsey for the post of the Executive Director of the Secretariat of the Green Climate Fund for a four-year term;
2. Requests the Co-Chairs to negotiate the terms of the contract that will be in accordance with the approved terms of reference (annex III to decision B.12/22) and the agreed performance management framework. The remuneration package will be negotiated by the Co‐Chairs, approved by the Board and publicly disclosed in line with the GCF Information disclosure policy;
3. Authorizes the Co‐Chairs to sign, on behalf of the GCF, the employment contract between Mr. Bamsey and the GCF; and
4. Confirms that Mr. Javier Manzanares will continue as the Executive Director ad interim until Mr. Bamsey takes office.

The Board,

Requests the Executive Director Selection Committee to develop performance criteria and measurement procedures for the approval of the Board as a decision taken between meetings.

The Board, having considered document GCF/B.14/05/rev.01 titled “Country ownership guidelines”,

Requests Mr. Colin Young (Board member, Belize) and Ms. Kate Hughes (alternate Board member, United Kingdom of Great Britain and Northern Ireland), to consult with the Board intersessionally with a view to presenting revised country ownership guidelines for consideration by the Board at its fifteenth meeting.

The Board, having considered document GCF/B.14/07 titled “Consideration of funding proposals”,

1. Notes that the review of the initial proposal approval process is in progress, in accordance with decision B.11/11, paragraph (j), and that the Board will consider the outcome of the review at its fifteenth meeting, in accordance with decision B.12/13, paragraph (a);
2. Requests the Co-Chairs and Executive Director ad interim, with guidance from the Budget Committee, to address the Secretariat capacity limitations in the Mitigation and Adaptation and Private Sector Facility divisions, by expediting, in a transparent manner, staff appointments, consultant appointments and secondments in key thematic areas;
3. Decides, in line with decision B.11/11, to conclude the review of the initial proposal approval process, in particular to expedite progress on strengthening and scaling up the GCF pipeline; streamlining and improving the transparency of the proposal approval process; reviewing how concept notes should work within the project cycle; and strengthening project/programme eligibility criteria;
4. Also decides to approve the operational guidelines of the simplified proposal approval process at its fifteenth meeting in line with decision B.13/20;
5. Notes that the Investment Committee is already working to bring forward proposals on indicative minimum benchmarks for the seventeenth meeting of the Board and will propose terms of reference for the review of independent Technical Advisory Panel at the fifteenth meeting of the Board;
6. Expresses concern regarding the number of conditional project approvals to date;
7. Urges the Secretariat, national designated authorities and focal points, and accredited entities to intensify efforts to strengthen the quality of funding proposals, in order to demonstrate greater potential to adapt to the impacts of climate change and/or to limit and reduce greenhouse gas emissions in the context of promoting a paradigm shift;
8. Urges direct access entities to make use of the Project Preparation Facility to strengthen their proposals in order to demonstrate greater potential to adapt to the impacts of climate change and/or to limit and reduce greenhouse gas emissions in the context of promoting a paradigm shift as indicated in paragraph (g) above;
9. Approves, on an exceptional basis, the funding proposals (FP018-027) conditional on modification to the design of the relevant project or programme, as further set out in paragraphs (r-aa) below, and subject to paragraph (l) below, and requests the Secretariat to specifically report to the Board on the status of fulfilment of conditions in annex I at the seventeenth meeting of the Board;
10. Requests the Secretariat to report to the Board at each meeting on the status of the fulfilment of all conditions decided by the Board in its approval of the relevant projects or programmes, and to seek further guidance from the Board in the event that the Secretariat determines that any such condition is technically, financially or legally unimplementable;
11. Takes note of the views expressed on programmatic proposals, including those related to the need to seek a balance of national, regional and international programmatic funding proposals. Requests the Co-Chairs to continue to consult on the programmatic approach with a view to conclude the policy guidelines for programmatic approach for consideration at the fifteenth meeting of the Board, noting that approvals on programmatic funding proposals at the fourteenth meeting of the Board do not prejudge the Board’s consideration of these policy decisions;
12. Confirms that only countries that have provided a letter of no-objection for FP025 are included in the approved programme;
13. Requests the Secretariat to modify the funding proposal template to accommodate the additional criteria of the enhanced direct access pilot phase, as specified in annex I to decision B.10/04;
14. Also requests the Secretariat to ensure that future proposals under the enhanced direct access modality meet all of the required elements of the enhanced direct access pilot and provide such evidence within the modified funding proposal template, as requested in paragraph (m) above;
15. Further requests the Secretariat to explore options for a mechanism that will draw on appropriate scientific and technical advice, as initially envisaged by decision B.04/09, paragraph (d);
16. Emphasizes the approach taken to approving funding proposals at the fourteenth meeting of the Board does not constitute a precedent;
17. Takes note of the following funding proposals:
    
    1. Funding proposal 018 titled “Scaling-up of glacial lake outburst flood (GLOF) risk reduction in Northern Pakistan” by the United Nations Development Programme, as contained in document GCF/B.14/07/Add.01 and Add.17 (limited distribution);
    2. Funding proposal 019 titled “Priming financial and land-use planning instruments to reduce emissions from deforestation” by the United Nations Development Programme, as contained in document GCF/B.14/07/Add.02 and Add.17;
    3. Funding proposal 020 titled “Sustainable energy facility for the Eastern Caribbean” by the Inter-American Development Bank, as contained in document GCF/B.14/07/Add.03 and Add.17;
    4. Funding proposal 021 titled “Senegal integrated urban flood management project” by Agence Française de Développement, as contained in document GCF/B.14/07/Add.04 and Add.17);
    5. Funding proposal 022 titled “Development of argan orchards in degraded environment” by the Agency for Agricultural Development of Morocco, as contained in document GCF/B.14/07/Add.05 and Add.17;
    6. Funding proposal 023 titled “Climate resilient agriculture in three of the vulnerable extreme northern crop growing regions (CRAVE)” by the Environmental Investment Fund, as contained in document GCF/B.14/07/Add.06 and Add.17;
    7. Funding proposal 024 titled “Empower to adapt: creating climate change resilient livelihoods through community-based natural resource management in Namibia” by the Environmental Investment Fund, as contained in document GCF/B.14/07/Add.07 and Add.17;
    8. Funding proposal 025 titled “Sustainable energy financing facilities (SEFF)” by the European Bank for Reconstruction and Development, as contained in document GCF/B.14/07/Add.11;
    9. Funding proposal 026 titled “Sustainable landscapes in Eastern Madagascar” by the Conservation International Foundation and the European Investment Bank, as contained in document GCF/B.14/07/Add.12; and
    10. Funding proposal 027 titled “Universal green energy access programme (UGEAP)” by Deutsche Bank AktienGesellschaft, as contained in document GCF/B.14/07/Add.13.
18. Approves funding proposal 018 for the amount of USD 36,960,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
19. Approves funding proposal 019 for the amount of USD 41,172,739, submitted by the United Nations Development Programme, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
20. Approves funding proposal 020 for the amount of USD 80,000,000, submitted by the Inter- American Development Bank, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
21. Approves funding proposal 021 for the amount of EUR 15,000,000, 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.14/07/Add.17;
22. Approves funding proposal 022 for the amount of USD 39,292,600, submitted by the Agency for Agricultural Development of Morocco, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
23. Approves funding proposal 023 for the amount of USD 9,500,000, submitted by Environmental Investment Fund, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
24. Approves funding proposal 024 for the amount of USD 10,000,000, submitted by the Environmental Investment Fund, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.17;
25. Approves funding proposal 025 for the amount of up to USD 378,000,000 equivalent, of which up to USD 84,000,000 will be provided in euro, 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.14/07/Add.114;
26. Approves funding proposal 026 for the amounts of USD 18,500,000 and up to USD 35,000,000 respectively, jointly submitted by the Conservation International Foundation and European Investment Bank subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.125, taking note of potential future reflows from activities in Madagascar undertaken by European Investment Bank to the activities in the country to be undertaken by the Conservation International Foundation subject to subsequent Board approval of a funding proposal to be submitted by the latter closer to the date of such reflows;
27. Approves funding proposal 027 for the amount of USD 80,000,000, submitted by Deutsche Bank AktienGesellschaft, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.14/07/Add.136;
28. 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 Green Climate Fund 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
29. 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.14/09 titled “Strategy on accreditation”,

1. Takes note of the draft strategy on accreditation contained in annex II;
2. Requests the Accreditation Committee in consultation with the Secretariat, the Accreditation Panel and national designated authorities, and taking into consideration previous decisions of the Board, in particular decision B.08/10 on country ownership and decision B.12/20 on the strategic plan for the GCF, to continue to elaborate on the draft strategy for its further consideration at the fifteenth meeting of the Board;
3. Acknowledges the recommendation of the Accreditation Committee and the Accreditation Panel to further develop the accreditation framework, which should consider lessons learned and the discussions of the Board at its fourteenth meeting;
4. Decides that future accreditation decisions by the Board should aim to bring forward accredited entities that fill the mandate on balance, diversity and coverage and advance the objectives of the GCF, and to that end:
   
   1. Decides to request the Accreditation Panel and the Secretariat to establish a prioritization of entities applying for accreditation, and prioritizes in 2016 and 2017 the following, not listed in any particular order of priority:
      
      1. National direct access entities;
      2. Entities in the Asia-Pacific and Eastern European regions;
      3. Private sector entities, in particular those in developing countries, seeking a balance of diversity of entities in line with decisions B.09/07, paragraph (g) and decision B.10/06, paragraph (h);
      4. Entities responding to requests for proposals issued by the 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
      5. programme to mobilize resources at scale in order to address adaptation and mitigation;
      6. Entities seeking fulfilment of conditions for accreditation; and
      7. Entities requesting upgrades; and
   2. Requests the Secretariat, in consultation with the Accreditation Committee and Accreditation Panel, to consider how to refine the method and criteria for prioritization for consideration of the Board at the sixteenth meeting of the Board;
5. With a view to increasing the efficiency of the accreditation process:
   
   1. Requests the Secretariat, in consultation with the Accreditation Panel, to develop modalities for the use of third-party evidence for review by the Board by its sixteenth meeting;
   2. Decides to review the fast-track process as defined in decisions B.08/03, B.10/06 and B.12/30 by the twentieth meeting of the Board; and
   3. Recalling decision B.08/03, paragraphs (f) and (k), requests the Accreditation Panel, with the support of the Secretariat, under the guidance of the Accreditation Committee, to elaborate the following elements for decision by the Board at its seventeenth meeting in 2017, an assessment, including a gap analysis, of the Adaptation Fund’s Environmental and Social Policy (approved in November 2013 and amended in March 2016) and Gender policy (approved in March 2016) in line with the GCF interim environmental and social safeguards and gender policy with recommendations on their potential accreditation or fast-tracking;
6. Decides to commence review of the GCF initial fiduciary standards in 2017 in accordance with decision B.07/02; and
7. Requests the Accreditation Panel to report at the fifteenth meeting of the Board on progress made towards establishing a baseline for the whole portfolio of accredited entities in accordance with decision B.12/30.

The Board, having considered document GCF/B.14/10 titled “Consideration of accreditation proposals – overview of accreditation”,

1. Takes note with appreciation of the efforts that accredited entities are making in order to address their accreditation conditions as listed in annex III;
2. Also takes note of the accredited entities with accreditation conditions fulfilled and closed as determined by the Accreditation Panel and listed in annex III;
3. Further 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 IV; and
4. Decides that those entities referred to in annex IV 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.

The Board, having considered document GCF/B.14/15 titled “Consideration of accreditation proposals – entities recommended at the thirteenth meeting of the Board”,

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 035 (APL035) is the Banque Ouest Africaine de Développement (West African Development Bank, BOAD) based in Togo, as contained in annex V;
   2. Applicant 036 (APL036) is the Caribbean Development Bank (CDB) based in Barbados as contained in annex VI;
   3. Applicant 037 (APL037) is XacBank LLC (XacBank) based in Mongolia, as contained in annex VII; and
   4. Applicant 038 (APL038) is the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) based in Germany, as contained in annex VIII; and
2. Accredits APL035, APL036, APL037 and APL038 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 IX.

The Board, having considered document GCF/B.14/16 titled “Consideration of accreditation proposals – entities recommended at the fourteenth meeting of the Board”,

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 039 (APL039) is the South African National Biodiversity Institute (SANBI) based in South Africa, as contained in annex X;
   2. Applicant 040 (APL040) is the Food and Agriculture Organization of the United Nations (FAO) based in Italy, as contained in annex XI;
   3. Applicant 041 (APL041) is the International Fund for Agricultural Development (IFAD) based in Italy, as contained in annex XII; and
   4. Applicant 042 (APL042) is the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) based in the Netherlands, as contained in annex XIII; and
2. Accredits APL039, APL040, APL041 and APL042 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.

Two limited distribution decisions were adopted under this agenda sub-item:

1. DECISION B.14/12 on accreditation master agreements and funded activity agreements; and
2. DECISION B.14/13 on the approval of the accreditation master agreement executed with the United Nations Development Programme.

The Board, having considered document GCF/B.14/11 titled “Interim Trustee Review”,

Takes note of the report on review of the Interim Trustee and its findings as contained in annex XV.

The Board, having reviewed document GCF/B.14/13 titled “Date and venue of the following meeting of the Board”,

1. Affirms that the fifteenth meeting of the Board will take place from Tuesday, 13 December 2016, to Thursday, 15 December 2016;
2. Also affirms that the fifteenth meeting of the Board will take place in Apia, Samoa, subject to the conclusion of the required legal agreement at least six weeks before the meeting starts; and
3. Requests the Secretariat to continue its consultations with Samoa with a view to concluding the required legal agreement and to making the necessary arrangements (annex XVI).

The Board, having reviewed document GCF/BM-2016/15 titled “Appointment of Member to the Ethics and Audit Committee of the Board”:

Appoints Mr. Nauman Bhatti as member of the Ethics and Audit Committee, for a term starting on the date of adoption of this decision.