B.08/16: Budget and staffing: 2015 administrative budget

The Board, having reviewed document GCF/B.08/24 Administrative Budget of the Fund for 2015:

1. Notes, that of the proposed administrative budget of the Green Climate Fund for the period from 1 January 2015 to 31 December 2015 of US$ 19,266,866, as set out in Annex XXV; US$ 12,042,101 of this amount in staff costs was approved under Board decision B.05/20;
2. Approves an additional allocation of US$ 7,224,765 making the total allocation for 2015 up to US$ 19,266,866; and
3. Authorizes the Interim Trustee to make cash transfers from the Green Climate Fund Trust Fund to the Secretariat, and to the World Bank, as the Interim Trustee, in accordance with the administrative budget of the Fund approved by the Board, subject to adjustment based upon revised costs and expenditures to be incurred.