A total of USD 40 million has been made available for the initial phase of the PPF, with each request subject to a cap of USD 1.5 million.
Support will be commensurate to the funding proposal being developed, and to the activities in the PPF application.
If approved, support is granted in the form of grants and repayable grants, while equity may be considered for private sector projects. Funding proposals developed with the PPF should be submitted to the GCF Board within two years of the approval of a PPF request.
There are many phases in project preparation, from early stages of project identification, concept development and establishing the enabling environment, to mid- and late-stage processes including project due diligence and project structuring. With each phase having different needs, it would be important to review the main outstanding requirements of project development as well as to assess the type of support the project/programme will require.
PPF support is limited to covering the following activities:
- Pre-feasibility and feasibility studies, as well as project design;
- Environmental, social and gender studies;
- Risk assessments;
- Identification of programme/project-level indicators;
- Pre-contract services, including the revision of tender documents;
- Advisory services and/or other services to financially structure a proposed activity;
- Other project preparation activities, where necessary, provided that sufficient justification is available.