B.44/11: Consideration of funding proposals

The Board, having considered document GCF/B.44/02 titled “Consideration of funding proposals”:

  1. Takes note of the following funding proposals:
    1. Simplified approval process funding proposal 066, titled “SCALE – Strengthening Chad’s Adaptation for Land, Ecosystems and smallholders” by ACTED, as contained in document GCF/B.44/02/Add.01;
    2. Simplified approval process funding proposal 067, titled “Catalyzing a Climate Risk Protection Shield for Zambian Smallholder Farmers” by the Republic of Zambia, acting through the Ministry of Finance and National Planning, as contained in document GCF/B.44/02/Add.02, including the assessment conducted by the Secretariat of the Republic of Zambia, acting through the Ministry of Finance and National Planning, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.02;
    3. Simplified approval process funding proposal 068, titled “Scaling up national adaptive capacities for climate change-driven natural hazards through strengthening monitoring and early warning systems” by the Republic of Armenia, acting through the Environmental Project Implementation Unit State Agency of the Ministry of Environment of the Republic of Armenia, as contained in document GCF/B.44/02/Add.03;
    4. Simplified approval process funding proposal 069, titled “Strengthening Community Resilience to the Adverse Effects of Climate Change with an Emphasis on Food Security and Gender Considerations in Priority Areas of Ecuador -FORECCSA+” by the Inter-American Institute for Cooperation onnAgriculture, as contained in document GCF/B.44/02/Add.04;
    5. Funding proposal 289, titled “Building Urban Climate Resilience through Naturebased Solutions in Ethiopia” by the Korea International Cooperation Agency, as contained in document GCF/B.44/02/Add.05;
    6. Funding proposal 290, titled “PURE Rural Mozambique Climate Project: Driving Mozambique’s climate resilience through energy access and climate-smart Productive Use of Renewable Energy” by Agence belge de développement (Enabel), as contained in document GCF/B.44/02/Add.06;
    7. Funding proposal 291, titled “ASCENT-GREEN: Resilient Energy Access for Inclusive Development” by the International Bank for Reconstruction and Development and International Development Association, as contained in document GCF/B.44/02/Add.07;
    8. Funding proposal 292, titled “Scaling climate-smart solutions for hardest-to-reach MSMEs and farmers in Kenya (CST Facility)” by KCB Bank Kenya Limited, as contained in document GCF/B.44/02/Add.08 and 19/Rev.01;
    9. Funding proposal 293, titled “Food Securities Fund Accountable Cocoa and Coffee Tranche (FSF ACCT)” by Clarmondial AG, as contained in document GCF/B.44/02/Add.09 and 20, including the assessment conducted by the Secretariat of Clarmondial AG, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.09;
    10. Funding proposal 294, titled “Vietnam REDD-plus results-based payments for results period of 2014” by the Japan International Cooperation Agency as contained in document GCF/B.44/02/Add.10/Rev.01;
    11. Funding proposal 295, titled “Establishing Climate Resilient, Regenerative Agricultural (CRRA) systems in Tonga, Vanuatu and Samoa” by the Pacific Community, as contained in document GCF/B.44/02/Add.11;
    12. Funding proposal 296, titled “Navis Decarbonization Fund I” by Navis Capital Partners (Singapore) Pte. Ltd., as contained in document GCF/B.44/02/Add.12 and 21, including the assessment conducted by the Secretariat of Navis Capital Partners (Singapore) Pte. Ltd., as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.12;
    13. Funding proposal 297, titled “CC Asia Climate Fund (CC-ACF)” by CC Global Services Holdings Limited, as contained in document GCF/B.44/02/Add.13 and 22, including the assessment conducted by the Secretariat of CC Global Services Holdings Limited, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.13;
    14. Funding proposal 298, titled “Climate Resilience of the Water Sector in The Bahamas” by the Caribbean Development Bank, as contained in document GCF/B.44/02/Add.14;
    15. Funding proposal 299, titled “ADAPT Jamaica: Enhancing climate change resilience of vulnerable smallholders in Central Jamaica” by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.44/02/Add.15;
    16. Funding proposal 300, titled “Peru’s Natural Legacy – Amazon & Climate (PdP A&C): Effective Management of Peruvian Amazon Protected Areas for Climate Change Mitigation and Adaptation” by World Wildlife Fund, Inc., as contained in document GCF/B.44/02/Add.16;
    17. Funding proposal 301, titled “Responsible Commodities Facility - Deforestation and Conversion Free: Finance for soy production in the Cerrado, Brazil (RCF-DCF Project)” by Sustainable Investment Management Limited, as contained in document GCF/B.44/02/Add.17 and 23, including the assessment conducted by the Secretariat of Sustainable Investment Management Limited, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.17;
    18. Funding proposal 302, titled “EcoEnterprises Partners IV” by EcoEnterprises Impact Management, LLC, as contained in document GCF/B.44/02/Add.18 and 24, including the assessment conducted by the Secretariat of EcoEnterprises Impact  Management, LLC, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.18; and
  2. Approves simplified approval process funding proposal 066, submitted by ACTED, for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and ACTED and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  3. Also approves simplified approval process funding proposal 067, submitted by the Republic of Zambia, acting through the Ministry of Finance and National Planning (MoFNP_ZMB), for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and MoFNP_ZMB and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  4. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, MoFNP_ZMB shall be deemed accredited only for the purposes of simplified approval process funding proposal 067;
  5. Further approves simplified approval process funding proposal 068, submitted by the Republic of Armenia, acting through the Environmental Project Implementation Unit State Agency of the Ministry of Environment of the Republic of Armenia (EPIU), for the amount of USD 9,499,990, in accordance with the term sheet agreed between the Secretariat and EPIU and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  6. Approves simplified approval process funding proposal 069, submitted by the InterAmerican Institute for Cooperation on Agriculture (IICA), for the amount of USD 23,362,075, in accordance with the term sheet agreed between the Secretariat and IICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  7. Also approves funding proposal 289, submitted by the Korea International Cooperation Agency (KOICA), for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and KOICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  8. Further approves funding proposal 290, submitted by Agence belge de développement (Enabel), for the amount of EUR 37,415,394, in accordance with the term sheet agreed between the Secretariat and Enabel and set out in document GCF/B.44/02/Add.25 and subject to the conditions set out in  Annex I;
  9. Approves funding proposal 291, submitted by the International Bank for Reconstruction and Development and International Development Association (World Bank), for the amount of USD 250,000,000, in accordance with the term sheet agreed between the Secretariat and the World Bank and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  10. Also approves funding proposal 292, submitted by KCB Bank Kenya Limited (KCB), for the amount of USD 43,643,200, in accordance with the term sheet agreed between the Secretariat and KCB and set out in document GCF/B.44/02/Add.19/Rev.01, and subject to the conditions set out in Annex I;
  11. Further approves funding proposal 293, submitted by Clarmondial AG (Clarmondial), for the amount of USD 56,000,000, in accordance with the term sheet agreed between the Secretariat and Clarmondial and set out in document GCF/B.44/02/Add.20, and subject to the conditions set out in Annex I;
  12. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, Clarmondial shall be deemed accredited only for the purposes of funding proposal 293;
  13. Approves funding proposal 294, submitted by the Japan International Cooperation Agency (JICA), for the amount of USD 71,955,000, in accordance with the term sheet agreed between the Secretariat and JICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  14. Also approves funding proposal 295, submitted by the Pacific Community (SPC), for the amount of USD 42,056,443, in accordance with the term sheet agreed between the Secretariat and SPC and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  15. Further approves funding proposal 296, submitted by Navis Capital Partners (Singapore) Pte. Ltd. (Navis), for the amount of USD 60,000,000, in accordance with the term sheet agreed between the Secretariat and Navis and set out in document GCF/B.44/02/Add.21, and subject to the conditions set out in Annex I;
  16. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, Navis shall be deemed accredited only for the purposes of funding proposal 296;
  17. Approves funding proposal 297, submitted by CC Global Services Holdings Limited (CC GSH), for the amount of USD 37,500,000, in accordance with the term sheet agreed between the Secretariat and CC GSH and set out in document GCF/B.44/02/Add.22, and subject to the conditions set out in Annex I;
  18. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, CC GSH shall be deemed accredited only for the purposes of funding proposal 297;
  19. Also approves funding proposal 298, submitted by the Caribbean Development Bank (CDB), for the amount of USD 50,051,432, in accordance with the term sheet agreed between the Secretariat and CDB and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  20. Further approves funding proposal 299, submitted by the Food and Agriculture Organization of the United Nations (FAO), for the amount of USD 40,554,313, in accordance with the term sheet agreed between the Secretariat and FAO and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  21. Approves funding proposal 300, submitted by World Wildlife Fund, Inc. (WWF), for the amount of USD 37,519,371, in accordance with the term sheet agreed between the Secretariat and WWF and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
  22. Also approves funding proposal 301, submitted by Sustainable Investment Management Limited (SIM), for the amount of USD 85,000,000, in accordance with the term sheet agreed between the Secretariat and SIM and set out in document GCF/B.44/02/Add.23, and subject to the conditions set out in Annex I;
  23. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, SIM shall be deemed accredited only for the purposes of funding proposal 301;
  24. Further approves funding proposal 302, submitted by EcoEnterprises Impact Management, LLC (EcoEnterprises), for the amount of USD 34,000,000, in accordance with the term sheet agreed between the Secretariat and EcoEnterprises and set out in document GCF/B.44/02/Add.24, and subject to the conditions set out in Annex I;
  25. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, EcoEnterprises shall be deemed accredited only for the purposes of funding proposal 302;
  26. Reaffirms that pursuant to annex IV to decision B.17/09 the Executive Director or his/her delegate(s) is authorized to negotiate and enter into legal agreements on behalf of GCF 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
  27. 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.