The Project-specific Assessment Approach (PSAA) Pilot is one of two approaches to GCF accreditation, approved through updates to the Accreditation Framework of the GCF (decision B.31/06). The PSAA is a capacity assessment of an entity to meet GCF accreditation standards to implement one climate project or programme. The proposed project or programme is aligned with developing countries’ priorities and GCF’s strategic objectives.
The PSAA Pilot framework is for three years (April 2023 – March 2026), and the GCF will review up to ten proposals per year for the duration of the pilot. It aims to streamline and broaden access to climate finance by working with new partners, countries, and technologies, that have been underserved by the existing GCF Accredited Entity network.
The PSAA complements institutional accreditation and GCF accreditation standards apply to both accreditation modalities. Entities are obligated to uphold these standards throughout the duration of the project/programme. If a PSAA Entity has the potential to be a long-term partner, they may pursue institutional accreditation after completing the PSAA.
Entities that are currently undergoing the accreditation process should consult with the GCF Secretariat to get guidance on which accreditation method might best suit their project needs and long-term future partnership intentions with GCF. If you have any questions regarding PSAA accreditation, please contact us at [email protected]
The PSAA modality accelerates the speed of access to GCF resources, reduces transaction costs for the implementation of one innovative climate project, and can potentially build a track record to enable an entity to apply for institutional accreditation.
GCF will accept proposals submitted by entities who are not already accredited to the Fund.
Entities seeking PSAA should meet the following criteria:
- Entities may include but are not limited to private, public, non-governmental, sub-national, national, regional, or international bodies, and entities responding to requests for proposals (RfPs) issued by GCF.
- Entities must have full legal capacity and independent legal personality within the relevant jurisdiction that enables it to undertake the proposed project.
- Entities need to demonstrate they can implement the proposed project/programme and meet all GCF accreditation requirements including financial, gender, environmental and social safeguard standards.
- Entities must exhibit a consistent and positive track record in the context of their own institutional mandate, as well as in areas relevant to GCF objectives, financing, results areas and management of environmental and social safeguards and gender risks.
- Entities must be nominated by the National Designated Authority or Focal Point (NDA/FP) (applicable to subnational, national, and regional entities based in developing countries only) and have received a no-objection letter (NOL) for the proposed project (for all entities).
Each entity will be capped at a maximum of one approved funding proposal under PSAA.
The PSAA is designed to assess whether the entity is capable of meeting GCF accreditation standards for proposal implementation and has a track record of strong financial management and of safeguarding funded projects and programmes against environmental and social harm. Assessment of the entity’s capability to implement the proposed project/programme is undertaken in parallel with the review of the funding proposal.
What types of projects or programmes are eligible for PSAA?
Projects/programmes of any size (Micro, small, medium, and large), and financial instruments (grants, loans, equity, and guarantees) suitable for the proposed activity may be considered.
Funding proposals submitted under the PSAA may include only those that have low to medium environmental and social risks and impacts (i.e., Categories C/I-3 and B/I-2).