B.24/02: Matters related to the first formal replenishment of the GCF: Consideration and endorsement of the outcomes of the first formal replenishment process

The Board, having considered document GCF/B.24/11 titled “GCF First Replenishment (GCF-1): Replenishment Summary Report”:

  1. Welcomes the successful conclusion of the first formal replenishment process of the GCF, as mandated by Board decision B.21/18;
  2. Expresses its appreciation to the group of Board members and alternate members who represented the Board and the GCF and actively engaged in the replenishment process;
  3. Welcomes the pledges made by 28 contributors totalling USD 9.66 billion (SDR 6.97 billion) equivalent (as of 14 November 2019), and the credit earned due to early payment encashment, which brings the outcome of the pledging session to USD 9.78 billion (SDR 7.05 billion) equivalent;
  4. Encourages further pledges and/or contributions during the replenishment period, in accordance with decision B.21/18;
  5. Also encourages contributing countries to confirm their pledges to the GCF in the form of fully executed contribution agreements/arrangements as soon as possible;
  6. Approves the updated Policy for Contributions, as contained in annex I of this document;
  7. Agrees that it will consider the recommendations in the “Replenishment Summary Report” (document GCF/B.24/11) during its development of the updated Strategic Plan and other items on its workplan; and
  8. Requests the Secretariat, in light of paragraph (g) above, to reflect these recommendations in its preparation of relevant documentation for Board consideration.