Approval & implementation

Overview

The first step in project implementation is an agreement between GCF and the implementing Accredited Entity on the necessary legal arrangements to get the funds flowing, called a Funded Activity Agreement (FAA).

Number of GCF Projects

 

Projects with executed FAAs

 

Projects with effective FAAs

 

The project or programme then moves into the implementation period whereby funds are transferred to the accredited entity against agreed criteria, the Fund’s fiduciary standards and ESS are applied, and an external audit report is submitted. Following these steps, the project or programme becomes effective, and the process of monitoring and evaluation commences and continues until the project or programme closes and exits the Fund’s portfolio.