B.12/31: Legal and formal arrangements with Accredited Entities: Readiness Grant Agreement

The Board, having reviewed document GCF/B.12/23 titled “Template Accreditation Master Agreement”:

  1. Takes note of the information provided by the Secretariat in document GCF/B.12/23 and of the progress made to date by the GCF in engaging with accredited entities on the execution of Accreditation Master Agreements;
  2. Considers the template Accreditation Master Agreement as set out in annex XXVI adequate for completing stage III of the accreditation process;
  3. Acknowledges that substantive changes from the template Accreditation Master Agreement may be necessary on a case‐by‐case basis as a consequence of negotiations with accredited entities, which will each have unique circumstances and requirements that may need to be taken into account. The Accreditation Master Agreement template should be considered flexible enough to ensure executed Accreditation Master Agreements are fit for purpose;
  4. Requests the Executive Director to regard the template Accreditation Master Agreement as the basis for negotiations with accredited entities. The Executive Director will determine, in consultation with the risk and legal teams, and the Risk Management Committee, whether or not a change is considered substantive on a case‐by‐case basis, and would require Board approval;
  5. Decides to approve the policy guidance, to be deemed substantive under paragraph (d) above in respect of Accreditation Master Agreements as set out in annex XXVII;
  6. Requests the Executive Director, as a matter of urgency, to prioritize the execution of Accreditation Master Agreements with those entities accredited by the Board, and to remain in regular communication with the Co‐Chairs between formal meetings on progress made to that end;
  7. Affirms the importance and urgency for the Fund to have adequate policies addressing fraud, corruption and other prohibited practices and policies addressing anti‐money laundering and countering the financing of terrorism;
  8. Decides to adopt the General Principles on Prohibited Practices, as presented in Exhibit A of the template Accreditation Master Agreement, as the Fund’s interim policy on prohibited practices to be observed by accredited entities, and readiness partners;
  9. Requests the Risk Management Committee, with the support of the Secretariat, to further develop the Fund’s Policies on prohibited practices for consideration by the Board at its fourteenth meeting;
  10. Also requests the Risk Management Committee, with support of the Secretariat, to develop processes and tools to implement the Fund’s interim policy, taking into account staffing and resources; and
  11. Notes that the Secretariat has been mandated to pursue, as a matter of urgency, entering into bilateral agreements with countries in which the Fund operates on privileges and immunities reflecting prudent international practice, consistent with decision B.08/24 and the guidance of the Conference of the Parties in United Nations Framework Convention on Climate Change decision 7/CP.20, paragraph 21.