B.31/07: Consideration of funding proposals

The Board, having considered document GCF/B.31/02/Rev.01 titled “Consideration of funding proposals”:

  1. Takes note of the following funding proposals:
    1. Funding proposal 182 titled “Climate-smart initiatives for climate change adaptation and sustainability in prioritized agricultural production systems in Colombia (CSICAP)” by the Corporación Andina de Fomento, as contained in document GCF/B.31/02/Add.01 and 06; and
    2. Funding proposal 183 titled “Inclusive Green Financing Initiative (IGREENFIN I): Greening Agricultural Banks & the Financial Sector to Foster Climate Resilient, Low Emission Smallholder Agriculture in the Great Green Wall (GGW) countries -Phase I" by the International Fund for Agricultural Development, as contained in document GCF/B.31/02/Add.02 and 06;
  2. Approves funding proposal 182 for the amount of USD 73,283,080, submitted by the Corporación Andina de Fomento, subject to the conditions set out in annex V and in the respective term sheet set out in document GCF/B.31/02/Add.06;
  3. Also approves funding proposal 183for the amount of EUR 104,415,189, submitted by the International Fund for Agricultural Development, subject to the conditions set out in annex V and in the respective term sheet set out in document GCF/B.31/02/Add.06;
  4. 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 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
  5. 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.