This document provides information on the execution of the GCF 2025 administrative budget from 1 January to 31 December 2025 approved by the Board. The administrative expenditure relates to costs for Board activities, the independent units, the Secretariat and the Trustee. The figures in this document are unaudited.

As of 31 December 2025, total expenditure for the annual administrative budget amounted to USD 131.7 million against an annual budget of USD 134.5 million, representing 98 per cent of the approved budget.

The unutilized balance of the annual administrative budget amounted to USD 4.3 million, comprising USD 1.7 million for the independent units (12 per cent of the approved budget) and USD 2.6 million for the Secretariat (2 per cent of the approved budget). Expenditure for the Board amounted to USD 5.0 million, representing 100 per cent of the approved budget Expenditure for the Trustee amounted to USD 6.2 million, representing 130 per cent of the approved budget.

At the time of publication, this report is pending the endorsement of the Budget Committee.