B.23/10: Consideration of funding proposals

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.