This matter was considered by the Board in an executive session.

A limited distribution decision was adopted under this agenda item: 

DECISION B.36/01 on accreditation master agreements

The Board, having considered document GCF/B.36/18 titled “Audited financial statements of the Green Climate Fund for the year ended 31 December 2022”:

Approves the audited financial statements of the Green Climate Fund for the year ended 31 December 2022 as contained in annex II.

The Board, having considered limited distribution document GCF/B.36/08 titled “Performance review of the members of the Accreditation Panel”:

1. Decides that, pursuant to decision B.BM-2017/03 and in line with the guiding principles and methodology for the performance review of members of the Accreditation Panel of the Green Climate Fund set out in annex II to the same decision, the performance review of the members of the Accreditation Panel shall be undertaken by an independent consultant or firm, with the aim of presenting the outcome of such performance review to the Board for its consideration at its thirty-seventh meeting;
2. Requests the Secretariat to promptly procure the independent consultant or firm referred to in paragraph (a); and
3. Also requests the Secretariat to promptly launch the call for experts to the Accreditation Panel and the Accreditation Committee to nominate members of the Accreditation Panel for consideration by the Board at its thirty-seventh meeting.

The Board, having considered document GCF/B.36/19 titled “Appointment of members of the independent Technical Advisory Panel”:

1. Recalls the updated terms of reference of the independent Technical Advisory Panel as noted in decision B.BM-2018/09; and
2. Endorses the nomination by the Investment Committee of the following experts to the independent Technical Advisory Panel for one three-year term starting on 1 August 2023:
   1. Debbie Menezes (Female, Portugal); and
   2. Marianne Kjellén (Female, Sweden).

The Board, having considered document GCF/B.36/02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Funding proposal 206 titled “Resilient Homestead and Livelihood support to the vulnerable coastal people of Bangladesh (RHL)” by the Palli Karma-Sahayak Foundation (PKSF), as contained in document GCF/B.36/02/Add.01;
   2. Funding proposal 207 titled “Recharge Pakistan: Building Pakistan’s resilience to climate change through Ecosystem-based Adaptation (EbA) and Green Infrastructure for integrated flood risk management” by the World Wildlife Fund, Inc. (WWF), as contained in document GCF/B.36/02/Add.02/Rev.01;
   3. Funding proposal 208 titled “Enhanced climate resilience in the Trois-Rivières region of Haiti through Integrated Flood Management” by the United Nations Development Programme (UNDP), as contained in document GCF/B.36/02/Add.03;
   4. Funding proposal 209 titled “Climate Change Resilience through South Africa’s Water Reuse Programme (“WRP”)” by the Development Bank of Southern Africa (DBSA), as contained in document GCF/B.36/02/Add.04;
   5. Funding proposal 210 titled “KawiSafi II” by Acumen Fund, Inc. (Acumen), as contained in document GCF/B.36/02/Add.05 and 09;
   6. Funding proposal 211 titled “Hardest-to-Reach” by Acumen Fund, Inc. (Acumen), as contained in document GCF/B.36/02/Add.06 and 10;
   7. Funding proposal 212 titled “&Green Fund: Investing in Inclusive Agriculture and Protecting Forests” by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), as contained in document GCF/B.36/02/Add.07 and 11;
   8. Funding proposal 213 titled “The Blue Green Bank (BGB)” by Pegasus Capital Advisors (PCA), as contained in document GCF/B.36/02/Add.08 and 12/Rev.01;
   9. Simplified approval process funding proposal 026 titled “Extended Community Climate Change Project-Drought (ECCCP-Drought)” by the Palli Karma-Sahayak Foundation (PKSF), as contained in document GCF/B.36/02/Add.13;
   10. Simplified approval process funding proposal 027 titled “Solomon Islands Knowledge-Action-Sustainability for Resilient Villages (SOLKAS) Project” by Save the Children Australia (SCA), as contained in document GCF/B.36/02/Add.14/Rev.01;
   11. Simplified approval process funding proposal 028 titled “Women-Adapt: Enhancing the climate change adaptive capacity of smallholder farmer communities in the Poro Region, focusing on vulnerable women and youth” by the World Food Programme (WFP), as contained in document GCF/B.36/02/Add.15; and
   12. Simplified approval process funding proposal 029 titled “Ecosystem-based Adaptation (EbA) for Reducing Community Vulnerability to Climate Change in Northern Pacific Small Island Developing States (SIDS)” by the Micronesia Conservation Trust (MCT), as contained in document GCF/B.36/02/Add.16; 
2. Approves funding proposal 206, submitted by the Palli Karma-Sahayak Foundation, for the amount of USD 42,201,200, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
3. Also approves funding proposal 207, submitted by the World Wildlife Fund, Inc., for the amount of USD 66,000,005, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
4. Further approves funding proposal 208, submitted by the United Nations Development Programme, for the amount of USD 22,427,206, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
5. Approves funding proposal 209, submitted by the Development Bank of Southern Africa, for the amount of USD 235,000,000, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
6. Also approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 210, submitted by Acumen Fund, Inc., for the amount of USD 52,500,000, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.09;
7. Further approves, pursuant to a vote in which 23 of the Board members present voted in favour and 1 of the Board members present voted against, and in respect of which none of the Board members present abstained from the vote, funding proposal 211, submitted by Acumen Fund, Inc., for the amount of USD 65,000,000, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.10;
8. Approves funding proposal 212, submitted by the Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V., for the amount of USD 189,350,000, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.11;
9. Also approves funding proposal 213, submitted by Pegasus Capital Advisors, for the amount of USD 15,500,000, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.12/Rev.01;
10. Further approves simplified approval process funding proposal 026, submitted by the Palli Karma-Sahayak Foundation, for the amount of USD 24,957,990, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
11. Approves simplified approval process funding proposal 027, submitted by Save the Children Australia, for the amount of USD 24,965,114, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18; 
12. Also approves simplified approval process funding proposal 028, submitted by the World Food Programme, for the amount of USD 8,999,880, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
13. Further approves simplified approval process funding proposal 029, submitted by the Micronesia Conservation Trust, for the amount of USD 8,896,275, subject to the conditions set out in annex I and in the respective term sheet set out in document GCF/B.36/02/Add.18;
14. Reaffirms that pursuant to annex IV to decision B.17/09 the Executive Director or his/her designee is authorized to negotiate and enter into legal agreements on behalf of GCF with accredited entities and other parties involved 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
15. 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.

The Board, having considered document GCF/B.36/03 titled “Consideration of accreditation proposals”:

1. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant documents for the following applicants for re-accreditation: pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant addendum for each of the applicants, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;
   1. Applicant R035 (RAPL035) is the Banque Ouest Africaine de Développement (West African Development Bank) (BOAD), based in Togo, as contained in document GCF/B.36/03/Add.02;
   2. Applicant R011 (RAPL011) is the Corporación Andina de Fomento (CAF), based in the Bolivarian Republic of Venezuela, as contained in document GCF/B.36/03/Add.03;
   3. Applicant R047 (RAPL047) is Fundación Avina, based in Panama, as contained in document GCF/B.36/03/Add.04; and
   4. Applicant R015 (RAPL015) is the Agence Française de Développement, based in France, as contained in document GCF/B.36/03/Add.05;
   pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessments by the Accreditation Panel contained in the relevant addendum for each of the applicants, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;

2. Also takes note of the efforts of the Banque Ouest Africaine de Développement to advance the purpose of GCF, including through Banque Ouest Africaine de Développement’s strategic plan Djoliba (2021–2025), its letter of 26 June 2018 from the Chief Executive Officer and Chairman of the Banque Ouest Africaine de Développement to the United Nations Framework Convention on Climate Change, and related statements in the context of the United Nations Framework Convention on Climate Change and the Paris Agreement;
3. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the re-accreditation and upgrade of RAPL035, the Banque Ouest Africaine de Développement (West African Development Bank) (BOAD), based in Togo, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.02, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;
4. Takes note of the efforts of the Corporación Andina de Fomento to advance the purpose of GCF, including through Corporación Andina de Fomento’s Institutional Strategy 2022–2026, its statement on 9 July 2023,1 and related statements in the context of the United Nations Framework Convention on Climate Change and the Paris Agreement;
5. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the re-accreditation of RAPL011, the Corporación Andina de Fomento (CAF), based in the Bolivarian Republic of Venezuela, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.03, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;
6. Also approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the re-accreditation of RAPL047, Fundación Avina, based in Panama, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.04, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;
7. Takes note of the efforts of the Agence Française de Développement to advance the purpose of GCF, including through the Agence Française de Développement’s Climate and Development Strategy and related statements in the context of the United Nations Framework Convention on Climate Change and the Paris Agreement;
8. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the re-accreditation of RAPL015, the Agence Française de Développement, based in France, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.05, and subject to the completion of Stage III of the accreditation process by having an effective amendment to the original accreditation master agreement, in accordance with decision B.24/13;
9. Takes note with appreciation of the assessments conducted by the Secretariat and the Accreditation Panel contained within the relevant documents for the following applicants for accreditation: pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessment by the Accreditation Panel contained in the relevant addendum for each of the applicants, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13;
   1. Applicant 118 (APL118) is Corporación Nacional para el Desarrollo (CND), based in Uruguay, as contained in document GCF/B.36/03/Add.06;
   2. Applicant 119 (APL119) is the Development Bank of Jamaica Limited (DBJ), based in Jamaica, as contained in document GCF/B.36/03/Add.07;
   3. Applicant 120 (APL120) is DFCC Bank PLC (DFCC Bank), based in Sri Lanka, as contained in document GCF/B.36/03/Add.08; and
   4. Applicant 121 (APL121) is responsAbility Investments AG (responsAbility), based in Switzerland, as contained in document GCF/B.36/03/Add.09;
   pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the assessment by the Accreditation Panel contained in the relevant addendum for each of the applicants, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13;

10. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL118, Corporación Nacional para el Desarrollo (CND), based in Uruguay, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.06, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13;
11. Also approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL119, Development Bank of Jamaica Limited (DBJ) based in Jamaica, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.07, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13;
12. Further approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL120, DFCC Bank PLC (DFCC Bank), based in Sri Lanka, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.08, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13;
13. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL121, responsAbility Investments AG (responsAbility), based in Switzerland, subject to, and in accordance with, the assessment by the Accreditation Panel contained in document GCF/B.36/03/Add.09, and subject to the completion of Stage III of the accreditation process by having an effective accreditation master agreement, in accordance with decision B.24/13; and
14. Takes note of the status of the fulfilment by accredited entities of accreditation conditions as assessed by the Accreditation Panel contained in document GCF/B.36/03/Add.01.

The Board, having considered document GCF/B.36/12 titled “Matters related to the accreditation strategy: resourcing implications of the accreditation strategy”:

1. Takes note of the resourcing implications of the accreditation strategy adopted in decision B.34/19, paragraph (a), and annex VIII to that decision, including potential impact on the modalities and budget for the Readiness and Preparatory Support Programme, Project Preparation Facility, and the capacity of the Secretariat and independent Accreditation Panel;
2. Requests the Secretariat to integrate the budgetary impacts for the Readiness and Preparatory Support Programme and Project Preparation Facility into the relevant work programme and budgets when these are next presented for the Board;
3. Approves an additional administrative budget of USD 612,000 to be executed during the years 2023 and 2024 for professional services for the Secretariat to:
   1. Develop guidance on the various types of partnerships that can be built with GCF, and on the obligations and responsibilities of accredited entities, in line with the accreditation strategy adopted in decision B.34/19, paragraph (a), and annex VIII thereto;
   2. Develop guidance on programming directions in order to support accredited entities in their delivery of such programming, in line with the accreditation strategy adopted in decision B.34/19, paragraph (a), and annex VIII thereto;
   3. Update guidance on re-accreditation and accreditation for national designated authorities and entities, including reflecting GCF strategic priorities and programming directions, and the accreditation strategy, in line with the accreditation strategy adopted in decision B.34/19, paragraph (a), and annex VIII thereto; and
   4. Develop, in line with decision B.34/19, paragraph (i), a paper on:
      1. The climate change programming development and implementation competencies and capacities relevant to programming with GCF; and
      2. Options for building or strengthening such capacities of accredited entities, particularly direct access entities, including support provided through the Readiness and Preparatory Support Programme, such as through the provision of technical assistance; cooperation between international access accredited entities and direct access entities; and peer learning; and
4. Recalls decision B.34/19, paragraph (b), and notes that matters therein relevant to accreditation should be discussed at the earliest opportunity.

The Board, having considered document GCF/B.36/10 titled “Twelfth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”:

1. Requests the Co‐Chairs, assisted by the Secretariat, to finalize the “Twelfth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change”, presented in annex VI, taking into consideration the comments made and decisions taken at the thirty‐sixth meeting of the Board, and submit the revised report to the United Nations Framework Convention on Climate Change secretariat, no later than 12 weeks prior to the twenty-eighth session of the Conference of the Parties, in accordance with decision 7/CP.20, paragraph 23; and
2. Also requests the Co‐Chairs, assisted by the Secretariat, to develop an addendum to the “Twelfth Report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change” capturing the progress and decisions to be made during the thirty‐seventh meeting of the Board and submit the addendum to the United Nations Framework Convention on Climate Change secretariat.

The Board, having considered document GCF/B.36/17/Rev.01 titled “Green Climate Fund – Strategic Plan 2024-2027. Co-Chairs Proposal”:

1. Approves the Strategic Plan for the GCF 2024–2027, as set out in annex III;
2. Requests the Secretariat to develop a detailed action plan to implement the Strategic Plan for the GCF 2024–2027, in particular the actions needed to implement and meet the programming targets, as an information document in order to inform the Board’s consideration of the workplan of the Board 2024–2027 at its thirty-eighth meeting; and
3. Also requests the Secretariat, under the guidance of the Co-Chairs, to update the allocation parameters and portfolio targets under the GCF initial investment framework to reflect the allocation parameters and portfolio targets for the second replenishment programming period set out in annex III and present them to the Board for consideration at its thirty-seventh meeting, and further requests the Secretariat to provide for the consideration of the Board a document on the criteria and planned allocations for the targeted results, in particular 10 and 11, in the box in paragraph 16 in annex III.

The Board, having considered document GCF/B.36/15/Rev.01 titled “Updated policy for contributions to the Green Climate Fund for the second replenishment”:

1. Expresses its appreciation to the group of potential contributors, Board and alternate members, and observers who actively engaged in the consultation process;
2. Approves the updated Policy for Contributions to the Green Climate Fund for the second replenishment, as contained in annex IV;
3. Requests the Secretariat to present a plan for the financial management of GCF’s commitment authority for the second replenishment programming period for consideration by the Board at its thirty-seventh meeting; and
4. Also requests the Secretariat, under the guidance of the Co-Chairs, to present to the Board at its thirty-seventh meeting a document with potential measures to manage non-confirmed pledges and non-payment of contributions.

The Board, having considered document GCF/B.36/06 titled “Terms of Reference for a Feasibility Study to further examine options for establishing a GCF regional presence”:

1. Decides to approve the terms of reference for the feasibility study in section II of document GCF/B.36/06 to further examine options for establishing a GCF regional presence in line with decision B.30/06, paragraph (k);
2. Approves an additional budget allocation of USD 100,000 to be made available for the feasibility study; and
3. Requests the Secretariat to submit the outcomes of the above-mentioned feasibility study for the Board’s consideration at its thirty-seventh meeting to facilitate a decision on the needs and feasibility of the establishment of a GCF regional presence.

The Board, having considered document GCF/B.36/16 titled “Consideration for a Local Currency Financing Pilot Program”:

1. Takes note of the ongoing work by the Secretariat and the Investment Committee, as well as comments by Board members at the thirty-sixth meeting of the Board, to develop a local currency financing pilot programme that addresses current barriers and risks associated with currency fluctuations at the programme/project level as mandated by decision B.33/14;
2. Also takes note of the approaches listed in annex V that can be used to support local currency financing;
3. Requests the Secretariat to develop, under the guidance of the Investment Committee, a framework that specifically addresses the scope and criteria for local currency financing pilot projects, with particular attention to, inter alia, additionality, direct access entity eligibility, implications to the GCF balance sheet and commitment authority, and cost of all-in concessionality for each project/programme utilizing local currency financing, and to provide the framework for consideration by the Board at its thirty-seventh meeting;
4. Also requests the Secretariat to continue to explore, under the guidance of the Investment Committee, financing approaches under “Approach B” for local currency financing as set out in annex V, taking into account the framework developed under paragraph (c), for consideration by the Board at its thirty-seventh meeting;
5. Reaffirms decision B.34/22, paragraph (e), pursuant to which the Secretariat is requested, in consultation with the Budget Committee with respect to any related budgetary implications, to explore the mitigation of the wider emerging financial risks outlined in section II of document GCF/B.34/13 and to present to the Board any recommended action for its consideration; and
6. Requests the Secretariat, in consultation with the Budget Committee with respect to any related budgetary implications, to explore the wider application of decision B.19/04, paragraph (a) (iii), on the foreign exchange commitment risk buffer to allow it to be used to support margin calls on the Fund in connection with the deployment of the local currency financing approaches set out in annex V, with a view to the Investment Committee and, if applicable, the Risk Management Committee, making a recommendation to the Board for its consideration no later than its thirty-ninth meeting.

The Board, having considered limited distribution document GCF/B.34/15 titled “Compliance Review Report: C-0006-Nicaragua: GCF Project FP146: Bio-CLIMA: Integrated climate action to reduce deforestation and strengthen resilience in BOSAWÁS and Rio San Juan Biospheres” (“Compliance Review Report”), limited distribution document GCF/B.35/Inf.13 titled “Management response to the Compliance Review Report: C-0006-Nicaragua: GCF Project FP146: Bio-CLIMA” (“Management Response”), and limited distribution document GCF/B.36/Inf.17 titled “Information note: Updates of the actions of the Secretariat on FP146 BioCLIMA since the thirty-fifth meeting of the Board”:

1. Underscores the seriousness, as reflected in the Indigenous Peoples Policy, of GCF’s role in fostering the full respect, promotion, and safeguarding of indigenous peoples;
2. Recalls decision B.34/23 in which, among other things, the Board took note of the Compliance Review Report and decision B.35/14 in which, among other things, the Board took note of the Management Response;
3. Takes note of the actions that the Secretariat has taken under the relevant legal agreements between GCF and the accredited entity to address the instances in which the development of the funding proposal for FP146 was determined not to be in compliance with the policies and procedures of GCF, as such non-compliance was determined in the Management Response, and affirms the right of the Secretariat to exercise the rights of GCF under the relevant legal agreements in the event that the policy non-compliance is not addressed to the satisfaction of the Secretariat;
4. Requests the Secretariat to update the Board on the status and outcomes of the actions taken by the Secretariat referred to in paragraph (c) above;
5. Decides, in light of the actions referred to in paragraph (c) above, to conclude its consideration of the Compliance Review Report and that this constitutes the Board’s final decision for the purposes of decision B.34/23, paragraph (f);
6. Requests the Secretariat to make publicly available the Management Response when the Compliance Review Report is published on the Independent Redress Mechanism website;
7. Also requests the Independent Redress Mechanism to ensure that, with respect to any future compliance review report submitted to the Board for consideration, when finalizing its final compliance review report pursuant to paragraph 61 of the Procedures and Guidelines of the Independent Redress Mechanism, if the Independent Redress Mechanism does not reflect the comments received from relevant stakeholders referred to in paragraph 60 of the Procedures and Guidelines of the Independent Redress Mechanism in the final compliance review report, it includes as an annex to the final compliance review report the relevant stakeholder comments, and the reasons that such comments were not reflected therein; and
8. Further requests the Secretariat, in view of the interlinkages with the actions referred to in paragraph (c) above, to continue to suspend its review of the monitoring framework provided by the accredited entity in connection with the Board conditions set out in decision B.27/01, annex I (List of conditions and recommendations), in respect of FP146, until the accredited entity has addressed the instances of policy non-compliance to the satisfaction of the Secretariat in a manner consistent with the relevant legal agreements.

The Board, having considered document GCF/B.36/20 titled “Dates and venues of upcoming meetings of the Board”:

1. Welcomes with appreciation the expressions of interest from Mongolia, Rwanda and Tajikistan to host a meeting of the Board and encourages the Secretariat to work to facilitate their potential hosting of future Board meetings;
2. Recalls and confirms that the thirty-seventh meeting of the Board will take place from Monday, 23 to Thursday, 26 October 2023, and decides that the meeting will take place in Georgia;
3. Decides that the thirty-eighth meeting of the Board will take place from Monday, 4 to Thursday, 7 March 2024;
4. Also decides that the thirty-ninth meeting of the Board will take place from Monday, 15 to Thursday, 18 July 2024; and
5. Further decides that the fortieth meeting of the Board will take place from Monday, 21 to Thursday, 24 October 2024.