This document presents the outcome of the review of the Policy on Restructuring and Cancellation (PRC), which was adopted by the Board through decision B.22/14, and a proposal for several updates to the PRC, including a title change to Policy on Adaptive Management.

The proposed revisions emphasize the Board’s authority over GCF strategic decisions, while streamlining operational processes to increase the ability of GCF to act swiftly, so as to improve responsiveness and accelerate the deployment of funds at scale. This approach is aligned with the updated Strategic Plan for the GCF 2024–2027 and supports the implementation of the revised accreditation framework and revised monitoring and accountability framework.