B.18/08: Policy matters related to the approval of funding proposals: Consideration of funding proposals

The Board, having considered document GCF/B.18/04/Rev.01 titled “Consideration of funding proposals”:

  1. Takes note of the following funding proposals:
    1. Funding proposal 046 titled “Renewable Energy Program #1-Solar” by XacBank LLC, as contained in document GCF/B.18/04/Add.17;
    2. Funding proposal 047 titled “GCF-EBRD Kazakhstan Renewables Framework” by the European Bank for Reconstruction and Development, as contained in document GCF/B.18/04/Add.18/Rev.01;
    3. Funding proposal 048 titled “Low Emissions and Climate Resilient Agriculture Risk Sharing Facility” by the Inter-American Development Bank, as contained in document GCF/B.18/04/Add.19/Rev.01;
    4. Funding proposal 049 titled “Building the climate resilience of food insecure smallholder farmers through integrated management of climate risks (the R4 Rural Resilience Initiative)” by the World Food Programme, as contained in document GCF/B.18/04/Add.04 and 23;
    5. Funding proposal 050 titled “Bhutan for Life (BfL)” by the World Wildlife Fund Inc., as contained in document GCF/B.18/04/Add.05 and 23;
    6. Funding proposal 051 titled “Scaling-up investment in low-carbon public buildings” by the United Nations Development Programme, as contained in document GCF/B.18/04/Add.06 and 23; (vii) Funding proposal 052 titled “Sustainable and climate resilient connectivity for Nauru” by the Asian Development Bank, as contained in document GCF/B.18/04/Add.07 and 23;
    7. Funding proposal 053 titled “Enhancing climate change adaptation in the north coast and Nile Delta regions in Egypt” by the United Nations Development Programme, as contained in document GCF/B.18/04/Add.08 and 23;
    8. Funding proposal 054 titled “Implementation project of the integral management plan of the Lujan River Basin” by the Corporación Andina de Fomento, as contained in document GCF/B.18/04/Add.09 and 23;
    9. Funding proposal 055 titled “Poverty, Reforestation, Energy and Climate Change (PROEZA Project)” by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.18/04/Add.10/Rev.01 and 23;
    10. Funding proposal 056 titled “Scaling up climate resilient water management practices for vulnerable communities in La Mojana” by the United Nations Development Programme, as contained in document GCF/B.18/04/Add.11 and 23;
    11. Funding proposal 057 titled “Climate Action for Rural Development: communitybased adaptation and mitigation in Argentina” by the Unidad Para el Cambio Rural (Unit for Rural Change, UCAR), as contained in document GCF/B.18/04/Add.12 and 23;
    12. Funding proposal 058 titled “Responding to the increasing risk of drought: building gender-responsive resilience of the most vulnerable communities” by the Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia, as contained in document GCF/B.18/04/Add.13 and 23;
  2. Also takes note that, in relation to funding proposal 048, the accredited entity has changed the name of the proposal from “Climate-Smart Agriculture (CSA) Risk Sharing Facility for MSMEs” to “Low Emissions and Climate Resilient Agriculture Risk Sharing Facility”; therefore, all references to “Climate-Smart Agriculture (CSA) Risk Sharing Facility for MSMEs” stated in the funding proposal and its annexes, as well as in the relevant assessments made by the Secretariat and the Independent Technical Advisory Panel, shall be read as “Low Emissions and Climate Resilient Agriculture Risk Sharing Facility”;
  3. Approves funding proposal 046 for the amount of USD 8,650,050, submitted by the XacBank LLC, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.17;
  4. Also approves funding proposal 047 for the amount of USD 110,000,000, submitted by the European Bank for Reconstruction and Development, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.18/Rev.01;
  5. Further approves funding proposal 048 for the amount of USD 20,000,000, submitted by the Inter-American Development Bank, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.19/Rev.01;
  6. Approves funding proposal 049 for the amount of USD 9,983,521, submitted by the World Food Programme, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  7. Also approves funding proposal 050 for the amount of USD 26,557,354, submitted by the World Wildlife Fund Inc., subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  8. Further approves funding proposal 051 for the amount of USD 17,346,000, submitted by United Nations Development Programme, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  9. Approves funding proposal 052 for the amount of USD 26,910,000, submitted by the Asian Development Bank, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  10. Also approves funding proposal 053 for the amount of USD 31,385,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  11. Further approves funding proposal 054 for the amount of USD 58,528,147, submitted by the Corporación Andina de Fomento, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  12. Also approves funding proposal 056 for the amount of USD 38,496,000, submitted by the United Nations Development Programme, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  13. Approves funding proposal 058 for the amount of USD 45,002,759, submitted by the Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia, subject to the conditions set out in annex XIII and in the respective term sheet set out in document GCF/B.18/04/Add.23;
  14. Decides that there was no consensus to approve funding proposal 055;
  15. Also decides that there was no consensus to approve funding proposal 057;
  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 interim policy on fees for accredited entities adopted by the Board pursuant to decision B.11/10.