B.38/03: Consideration of funding proposals

The Board, having considered limited distribution document GCF/B.38/14 titled “Consideration of funding proposals: Consideration of a request for changes of the design and pricing in respect of funded activity FP106 (“Embedded Generation Investment Plan (EGIP)”)”:

  1. Approves, with respect to funded activity FP106 titled “Embedded Generation Investment Programme (EGIP)”:
    1. A change to the financial instrument between GCF and the accredited entity from a limited recourse loan to a credit line to be provided by GCF to the Development Bank of Southern Africa, with consequential changes to the terms and conditions for the utilization of the GCF proceeds, as set out in the revised term sheet in annex III to document GCF/B.38/14; and
    2. The changes to the pricing of GCF proceeds, as set out in document GCF/B.38/14.