Forty-fourth meeting of the GCF Board (B.44)

The Board, having considered document GCF/B.44/08 titled “Dates and venues of upcoming meetings of the Board”:

Recalls and confirms that the forty-fifth meeting of the Board will take place from Monday, 29 June to Thursday, 2 July 2026 in Dushanbe, Tajikistan.

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

A limited distribution decision was adopted under this agenda item: 

DECISION B.44/01 on accreditation master agreements

The Board, having considered document GCF/B.44/19 titled “Report on the activities of the Co-Chairs”:

1. Decides to hold a Board retreat to take place immediately before the forty-fifth meeting of the Board on Board effectiveness and to exchange views on the GCF vision, ambition, strategic positioning in the climate finance landscape, and priorities for the coming strategy cycle; 
2. Also decides to have a second Board retreat on the updated Strategic Plan for the GCF 2028–2031 between the forty-sixth and forty-seventh meetings of the Board to further exchange views on the GCF strategic vision, objectives and priorities for the coming strategy cycle, taking into account evolving priorities, including guidance of the Conference of the Parties to the United Nations Framework Convention on Climate Change, the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement, and relevant reports from the Independent Evaluation Unit; and 
3. Requests the Co-Chairs, with the support of the Secretariat, to capture key takeaways relating to Board effectiveness from the retreat referred to in paragraph (a) and to propose follow-up actions to inform subsequent work and proposals for Board consideration.

The Board, having established, effective as of 1 April 2026, the committees under the updated structure adopted through decision B.44/16:

1. Appoints, effective as of 1 April 2026, as members of the Risk and Finance Committee:
   1. Mr. Amjad Abdulla;
   2. Ms. Kobi Bentley;
   3. Mr. Sindhu Prasad Dhungana;
   4. Mr. Andrew Hurst;
   5. Mr. Ramón López;
   6. Ms. Sandra Louiszoon;
   7. Mr. Seyni Nafo; and
   8. Mr. Bob Natifu;
2. Also appoints, effective as of 1 April 2026, as members of the Operations and Portfolio Committee:
   1. Mr. Antwi-Boasiako Amoah;
   2. Mr. Mohammad Ayoub;
   3. Ms. Gisella Berardi;
   4. Mr. Richard Bontjer;
   5. Ms. Isatou F. Camara;
   6. Ms. Anne Moulin;
   7. Ms. Salka Sigurdardottir; and
   8. Ms. Min Tian;
3. Further appoints, effective as of 1 April 2026, as members of the Budget Committee:
   1. Mr. Jose Delgado;
   2. Mr. Balisi Gopolang;
   3. Mr. Leif Holmberg;
   4. Mr. Do Ik Kim;
   5. Ms. Anne Kmety;
   6. Ms. Mariamalia Jiménez Coto;
   7. Ms. Pacifica F. Ogola; and
   8. Ms. Annette Windmeisser;
4. Appoints, effective immediately, Ms. Mareike Well as member of the Ethics and Audit Committee, replacing Ms. Kobi Bentley.

The Board, having considered document GCF/B.44/20 titled “Guidance from the thirtieth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change: Co-Chairs’ proposal”: 

1. Takes note of this report, including the actions to be undertaken by the Board and Secretariat in 2026 in response to guidance received from the Parties during the thirtieth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change, as contained in annex II; and
2. Requests the Co-Chairs, with the support of the Secretariat, to include an overview of progress in response to the guidance referred to in paragraph (a) above in the fifteenth GCF/B.44/21 report of the Green Climate Fund to the Conference of the Parties to the United Nations Framework Convention on Climate Change.

The Board, having considered document GCF/B.44/04 titled “Co-Chairs’ proposal on a Board training programme”:

1. Approves the establishment of a continuous Board training programme as outlined in document GCF/B.44/04;
2. Requests the Secretary to the Board, with support from the Secretariat, to oversee, coordinate and deliver the training programme, drawing on internal and external expertise as appropriate; and
3. Confirms that the costs of the training programme shall be drawn from the line on professional services of the Board budget adopted by the Board.

The Board, taking into account paragraphs 7, 10 and 31 of the General guidelines for the operation of Board committees:

1. Appoints Ms. Isatou F. Camara as member of the Investment Committee; 
2. Also appoints Mr. Bob Natifu as member of the Risk Management Committee; and
3. Further appoints Mr. Balisi Gopolang as member of the Risk Management Committee.

The Board, having considered document GCF/B.44/13 titled “Review of the independent Technical Advisory Panel”:

1. Takes note of the final report on the Review of the independent Technical Advisory Panel, the Secretariat response, and the independent Technical Advisory Panel responses as contained in document GCF/B.44/13;
2. Also takes note of the recommendation by the Investment Committee; and
3. Requests the Investment Committee to conduct further analysis on the basis of option 1 of the possible reform independent Technical Advisory Panel packages and findings in the review report as contained in annex II of document GCF/B.44/13 and to inform the Board of its progress at the forty-fifth meeting of the Board.

The Board, having considered document GCF/B.44/10 titled “Terms of reference for consultancy services for a broad review of the objectives, role, structure, governance and operational modalities of the Accreditation Panel in supporting Board decision-making under the revised Accreditation Framework”:

1. Adopts the terms of reference for consultancy services for a broad review of the objectives, role, structure, governance and operational modalities of the Accreditation Panel in supporting Board decision-making under the revised accreditation framework as contained in annex II to document GCF/B.44/10; and
2. Requests the Secretariat, under the guidance of the Accreditation Committee, to present the outcome of the review and any recommendations based on the findings of the review to the Board for its consideration no later than its forty-sixth meeting.

The Board, having considered confidential document GCF/B.44/09 titled “Matters related to the appointment of the Head of the Independent Redress Mechanism”:

1. Decides to renew the appointment of Sonja Derkum for a second term of three years as Head of the Independent Redress Mechanism, effective from 14 August 2026; and 
2. Authorizes the Co-Chairs to negotiate and sign, on behalf of the Board, the contract between the Head of the Independent Redress Mechanism and GCF.

The Board, having considered limited distribution document GCF/B.44/15 titled “Case C-0009-Egypt Compliance Review Report: FP039: GCF-EBRD Egypt Renewable Energy Financing Framework”: 

1. Takes note of the Independent Redress Mechanism Compliance Review Report titled “C0009-Egypt: FP039: GCF-EBRD Egypt Renewable Energy Financing Framework” and its findings and recommendations (including suggestions);
2. Acknowledges the two proposals in the Compliance Review Report, P.1 and P.2, related to GCF Board decisions that may implicate the mandate of the Independent Redress Mechanism or GCF operational policies and procedures in projects or programmes;
3. Endorses the seven recommendations contained in the report, R.1, R.2, R.3, R.4, R.5, R.6 and R.7;
4. Also endorses the seven suggestions in the report which indicate action to be taken by the GCF Secretariat, S.1, S.2, S.4, S.11, S.12, S.14, and S.15;
5. Notes the eight additional suggestions contained in the report, S.3, S.5, S.6, S.7, S.8, S.9, S.10, and S.13, and welcomes collaboration between relevant actors to achieve appropriate outcomes;
6. Requests the Secretariat, in collaboration with the accredited entity and the Independent Redress Mechanism, to develop a draft Remedial Action Plan consistent with paragraphs 66 and 67 of the Procedures and Guidelines of the Independent Redress Mechanism within sixty calendar days, to address the recommendations and suggestions endorsed in paragraphs (c) and (d);
7. Also requests the Secretariat to implement the Remedial Action Plan in paragraph (f) once finalized, taking reasonable steps to require the accredited entity to implement relevant remedial actions specified in the Remedial Action Plan, consistent with the Procedures and Guidelines of the Independent Redress Mechanism;
8. Further requests that the Independent Redress Mechanism report on and monitor the implementation of this decision, including any final Remedial Action Plan, consistent with the Procedures and Guidelines of the Independent Redress Mechanism;
9. Confirms that this decision is, and should in all circumstances be interpreted to be, without prejudice to any and all rights of GCF under relevant legal agreements, all of which are specifically reserved;
10. Notes the response of the Secretariat related to the Independent Redress Mechanism’s findings of policy non-compliance, as detailed in an annex to the report; and
11. Requests the Secretariat to report to the Board by the forty-sixth meeting of the Board an assessment on the operational implications and its experience in applying the relevant 2018 Environmental and Social Policy monitoring requirements, to the extent reasonably possible, to the other projects of the portfolio approved prior to 1 March 2018.

The Board, having considered document GCF/B.44/02 titled “Consideration of funding proposals”:

1. Takes note of the following funding proposals:
   1. Simplified approval process funding proposal 066, titled “SCALE – Strengthening Chad’s Adaptation for Land, Ecosystems and smallholders” by ACTED, as contained in document GCF/B.44/02/Add.01;
   2. Simplified approval process funding proposal 067, titled “Catalyzing a Climate Risk Protection Shield for Zambian Smallholder Farmers” by the Republic of Zambia, acting through the Ministry of Finance and National Planning, as contained in document GCF/B.44/02/Add.02, including the assessment conducted by the Secretariat of the Republic of Zambia, acting through the Ministry of Finance and National Planning, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.02;
   3. Simplified approval process funding proposal 068, titled “Scaling up national adaptive capacities for climate change-driven natural hazards through strengthening monitoring and early warning systems” by the Republic of Armenia, acting through the Environmental Project Implementation Unit State Agency of the Ministry of Environment of the Republic of Armenia, as contained in document GCF/B.44/02/Add.03;
   4. Simplified approval process funding proposal 069, titled “Strengthening Community Resilience to the Adverse Effects of Climate Change with an Emphasis on Food Security and Gender Considerations in Priority Areas of Ecuador -FORECCSA+” by the Inter-American Institute for Cooperation onnAgriculture, as contained in document GCF/B.44/02/Add.04;
   5. Funding proposal 289, titled “Building Urban Climate Resilience through Naturebased Solutions in Ethiopia” by the Korea International Cooperation Agency, as contained in document GCF/B.44/02/Add.05;
   6. Funding proposal 290, titled “PURE Rural Mozambique Climate Project: Driving Mozambique’s climate resilience through energy access and climate-smart Productive Use of Renewable Energy” by Agence belge de développement (Enabel), as contained in document GCF/B.44/02/Add.06;
   7. Funding proposal 291, titled “ASCENT-GREEN: Resilient Energy Access for Inclusive Development” by the International Bank for Reconstruction and Development and International Development Association, as contained in document GCF/B.44/02/Add.07;
   8. Funding proposal 292, titled “Scaling climate-smart solutions for hardest-to-reach MSMEs and farmers in Kenya (CST Facility)” by KCB Bank Kenya Limited, as contained in document GCF/B.44/02/Add.08 and 19/Rev.01;
   9. Funding proposal 293, titled “Food Securities Fund Accountable Cocoa and Coffee Tranche (FSF ACCT)” by Clarmondial AG, as contained in document GCF/B.44/02/Add.09 and 20, including the assessment conducted by the Secretariat of Clarmondial AG, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.09;
   10. Funding proposal 294, titled “Vietnam REDD-plus results-based payments for results period of 2014” by the Japan International Cooperation Agency as contained in document GCF/B.44/02/Add.10/Rev.01;
   11. Funding proposal 295, titled “Establishing Climate Resilient, Regenerative Agricultural (CRRA) systems in Tonga, Vanuatu and Samoa” by the Pacific Community, as contained in document GCF/B.44/02/Add.11;
   12. Funding proposal 296, titled “Navis Decarbonization Fund I” by Navis Capital Partners (Singapore) Pte. Ltd., as contained in document GCF/B.44/02/Add.12 and 21, including the assessment conducted by the Secretariat of Navis Capital Partners (Singapore) Pte. Ltd., as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.12;
   13. Funding proposal 297, titled “CC Asia Climate Fund (CC-ACF)” by CC Global Services Holdings Limited, as contained in document GCF/B.44/02/Add.13 and 22, including the assessment conducted by the Secretariat of CC Global Services Holdings Limited, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.13;
   14. Funding proposal 298, titled “Climate Resilience of the Water Sector in The Bahamas” by the Caribbean Development Bank, as contained in document GCF/B.44/02/Add.14;
   15. Funding proposal 299, titled “ADAPT Jamaica: Enhancing climate change resilience of vulnerable smallholders in Central Jamaica” by the Food and Agriculture Organization of the United Nations, as contained in document GCF/B.44/02/Add.15;
   16. Funding proposal 300, titled “Peru’s Natural Legacy – Amazon & Climate (PdP A&C): Effective Management of Peruvian Amazon Protected Areas for Climate Change Mitigation and Adaptation” by World Wildlife Fund, Inc., as contained in document GCF/B.44/02/Add.16;
   17. Funding proposal 301, titled “Responsible Commodities Facility - Deforestation and Conversion Free: Finance for soy production in the Cerrado, Brazil (RCF-DCF Project)” by Sustainable Investment Management Limited, as contained in document GCF/B.44/02/Add.17 and 23, including the assessment conducted by the Secretariat of Sustainable Investment Management Limited, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.17;
   18. Funding proposal 302, titled “EcoEnterprises Partners IV” by EcoEnterprises Impact Management, LLC, as contained in document GCF/B.44/02/Add.18 and 24, including the assessment conducted by the Secretariat of EcoEnterprises Impact  Management, LLC, as contained in the Secretariat’s assessment within document GCF/B.44/02/Add.18; and
2. Approves simplified approval process funding proposal 066, submitted by ACTED, for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and ACTED and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
3. Also approves simplified approval process funding proposal 067, submitted by the Republic of Zambia, acting through the Ministry of Finance and National Planning (MoFNP_ZMB), for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and MoFNP_ZMB and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
4. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, MoFNP_ZMB shall be deemed accredited only for the purposes of simplified approval process funding proposal 067;
5. Further approves simplified approval process funding proposal 068, submitted by the Republic of Armenia, acting through the Environmental Project Implementation Unit State Agency of the Ministry of Environment of the Republic of Armenia (EPIU), for the amount of USD 9,499,990, in accordance with the term sheet agreed between the Secretariat and EPIU and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
6. Approves simplified approval process funding proposal 069, submitted by the InterAmerican Institute for Cooperation on Agriculture (IICA), for the amount of USD 23,362,075, in accordance with the term sheet agreed between the Secretariat and IICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
7. Also approves funding proposal 289, submitted by the Korea International Cooperation Agency (KOICA), for the amount of USD 25,000,000, in accordance with the term sheet agreed between the Secretariat and KOICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
8. Further approves funding proposal 290, submitted by Agence belge de développement (Enabel), for the amount of EUR 37,415,394, in accordance with the term sheet agreed between the Secretariat and Enabel and set out in document GCF/B.44/02/Add.25 and subject to the conditions set out in  Annex I;
9. Approves funding proposal 291, submitted by the International Bank for Reconstruction and Development and International Development Association (World Bank), for the amount of USD 250,000,000, in accordance with the term sheet agreed between the Secretariat and the World Bank and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
10. Also approves funding proposal 292, submitted by KCB Bank Kenya Limited (KCB), for the amount of USD 43,643,200, in accordance with the term sheet agreed between the Secretariat and KCB and set out in document GCF/B.44/02/Add.19/Rev.01, and subject to the conditions set out in Annex I;
11. Further approves funding proposal 293, submitted by Clarmondial AG (Clarmondial), for the amount of USD 56,000,000, in accordance with the term sheet agreed between the Secretariat and Clarmondial and set out in document GCF/B.44/02/Add.20, and subject to the conditions set out in Annex I;
12. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, Clarmondial shall be deemed accredited only for the purposes of funding proposal 293;
13. Approves funding proposal 294, submitted by the Japan International Cooperation Agency (JICA), for the amount of USD 71,955,000, in accordance with the term sheet agreed between the Secretariat and JICA and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
14. Also approves funding proposal 295, submitted by the Pacific Community (SPC), for the amount of USD 42,056,443, in accordance with the term sheet agreed between the Secretariat and SPC and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
15. Further approves funding proposal 296, submitted by Navis Capital Partners (Singapore) Pte. Ltd. (Navis), for the amount of USD 60,000,000, in accordance with the term sheet agreed between the Secretariat and Navis and set out in document GCF/B.44/02/Add.21, and subject to the conditions set out in Annex I;
16. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, Navis shall be deemed accredited only for the purposes of funding proposal 296;
17. Approves funding proposal 297, submitted by CC Global Services Holdings Limited (CC GSH), for the amount of USD 37,500,000, in accordance with the term sheet agreed between the Secretariat and CC GSH and set out in document GCF/B.44/02/Add.22, and subject to the conditions set out in Annex I;
18. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, CC GSH shall be deemed accredited only for the purposes of funding proposal 297;
19. Also approves funding proposal 298, submitted by the Caribbean Development Bank (CDB), for the amount of USD 50,051,432, in accordance with the term sheet agreed between the Secretariat and CDB and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
20. Further approves funding proposal 299, submitted by the Food and Agriculture Organization of the United Nations (FAO), for the amount of USD 40,554,313, in accordance with the term sheet agreed between the Secretariat and FAO and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
21. Approves funding proposal 300, submitted by World Wildlife Fund, Inc. (WWF), for the amount of USD 37,519,371, in accordance with the term sheet agreed between the Secretariat and WWF and set out in document GCF/B.44/02/Add.25, and subject to the conditions set out in Annex I;
22. Also approves funding proposal 301, submitted by Sustainable Investment Management Limited (SIM), for the amount of USD 85,000,000, in accordance with the term sheet agreed between the Secretariat and SIM and set out in document GCF/B.44/02/Add.23, and subject to the conditions set out in Annex I;
23. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, SIM shall be deemed accredited only for the purposes of funding proposal 301;
24. Further approves funding proposal 302, submitted by EcoEnterprises Impact Management, LLC (EcoEnterprises), for the amount of USD 34,000,000, in accordance with the term sheet agreed between the Secretariat and EcoEnterprises and set out in document GCF/B.44/02/Add.24, and subject to the conditions set out in Annex I;
25. Notes that, pursuant to paragraph (j) of decision B.31/06, and paragraph 115 of the updated accreditation framework adopted under decision B.31/06, EcoEnterprises shall be deemed accredited only for the purposes of funding proposal 302;
26. Reaffirms that pursuant to annex IV to decision B.17/09 the Executive Director or his/her delegate(s) is authorized to negotiate and enter into legal agreements on behalf of GCF 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
27. 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.44/12 titled “Consideration of funding proposals: Extension of the deadline in respect of FP252 ‘Acumen Resilient Agriculture Fund II’” and its limited distribution addendum Add.01:

Decides to extend, until the day which is one day after the last day of the forty-fifth meeting of the Board, the deadline for the execution of the funded activity agreement for the following approved funding proposal:

1. FP252, titled “Acumen Resilient Agriculture Fund II”.

The Board, having considered document GCF/B.44/03 titled “Consideration of accreditation proposals and activities”:

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 accreditation:
   1. Applicant 163 (APL163), Bank of Bhutan Limited (BoB), based in Bhutan, as contained in document GCF/B.44/03/Add.01;
   2. Applicant 164 (APL164), Eldik Bank Open Joint-Stock Company (Eldik Bank), based in Kyrgyzstan, as contained in document GCF/B.44/03/Add.02;
   3. Applicant 165 (APL165), Municipal Development and Lending Fund (MDLF), based in the State of Palestine, as contained in document GCF/B.44/03/Add.03;
   4. Applicant 166 (APL166), Nigeria Sovereign Investment Authority (NSIA), based in Nigeria, as contained in document GCF/B.44/03/Add.04; 
   5. Applicant 167 (APL167), Asian Forest Cooperation Organization (AFoCO), based in the Republic of Korea, as contained in document GCF/B.44/03/Add.05;
   6. Applicant 168 (APL168), Caribbean Export Development Agency (CE), based in Barbados, as contained in document GCF/B.44/03/Add.06;
   7. Applicant 169 (APL169), Asian Disaster Preparedness Center (ADPC), based in Thailand, as contained in document GCF/B.44/03/Add.07;
   8. Applicant 170 (APL170), Catholic Relief Services – United States Conference of Catholic Bishops (CRS), based in the United States of America, as contained in document GCF/B.44/03/Add.08;
   9. Applicant 171 (APL171), the World Health Organization (WHO), based in Switzerland, as contained in document GCF/B.44/03/Add.09; and
   10. Applicant 172 (APL172), World Vision Australia (WVA), based in Australia, as contained in document GCF/B.44/03/Add.10;

   pursuant to paragraph 45 of the Governing Instrument for the GCF, subject to, and in accordance with, the recommendation of the Accreditation Panel contained in the relevant addendum for each of the applicants, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;

2. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL163, Bank of Bhutan Limited (BoB), based in Bhutan, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.01, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
3. Also approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL164, Eldik Bank Open Joint-Stock Company (Eldik Bank), based in Kyrgyzstan, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.02, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
4. Further approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL165, Municipal Development and Lending Fund (MDLF), based in the State of Palestine, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.03, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
5. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL166, Nigeria Sovereign Investment Authority (NSIA), based in Nigeria, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.04, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
6. Also approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL167, Asian Forest Cooperation Organization (AFoCO), based in the Republic of Korea, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.05, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
7. Further approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL168, Caribbean Export Development Agency (CE), based in Barbados, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.06, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
8. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL169, Asian Disaster Preparedness Center (ADPC), based in Thailand, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.07, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
9. Also approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL170, Catholic Relief Services – United States Conference of Catholic Bishops (CRS), based in the United States of America, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.08, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
10. Further approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL171, the World Health Organization (WHO), based in Switzerland, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.09, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
11. Approves, pursuant to paragraph 45 of the Governing Instrument for the GCF, the accreditation of APL172, World Vision Australia (WVA), based in Australia, subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.10, and subject to the issuance of a certificate/confirmation evidencing their accreditation in accordance with the transitional arrangements in respect of the revised accreditation framework adopted in paragraph (m) of decision B.42/13;
12. Takes note with appreciation of the assessment conducted by the Secretariat and the Accreditation Panel contained within the relevant documents for the following applicants seeking to upgrade their accreditation type:
    1. Conservation International Foundation (CI), based in the United States of America, as contained in document GCF/B.44/03/Add.11; and
    2. Save the Children Australia (SCA), based in Australia, as contained in document GCF/B.44/03/Add.12;
13. Agrees to upgrade the accreditation type of Conservation International Foundation (CI), based in the United States of America, as contained in decision B.15/09, paragraph (f), subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.11; and
14. Also agrees to upgrade the accreditation type of Save the Children Australia (SCA), based in Australia, as contained in decision B.24/11, paragraph (b), subject to, and in accordance with, the recommendation on accreditation of the Accreditation Panel contained in section 4.2 of document GCF/B.44/03/Add.12.
     

The Board, having considered document GCF/B.44/17/Rev.01 titled “Operationalizing GCF regional presence: assessment results, proposed configurations and implementation plan” and its addenda:

1. Takes note of the Secretariat’s assessment of the eligible host country proposals to host a GCF regional presence, as presented in document GCF/B.44/17/Rev.01; 
2. Adopts the following configuration consistent with the Board document GCF/B.44/17/Rev.01 and document GCF/B.42/12 to be covered by GCF regional presence, recognizing that headquarters located in Republic of Korea will cover East, Southeast and South Asia:
   1. Regional office covering Latin America and the Caribbean;
   2. Regional office covering Eastern Europe, Central Asia and the Middle East;
   3. Regional office operating across two locations covering (a) East and Southern Africa, and (b) Central, North and West Africa; and
   4. A sub-regional office covering the Pacific, under the oversight of a Regional Director based in headquarters in Republic of Korea, located in Suva, Fiji;
3. Requests the Secretariat to advance the operationalization of regional presence, and to ensure strict cost control throughout implementation, including the timely realization of efficiency gains and cost offsets, so as to achieve budget neutrality within five years from the entry into force of the first host country agreement and, unless otherwise decided by the Board, maintain zero-real growth thereafter, relative to the final budget of that fiveyear period, for regional presence, and within the approved administrative budget envelope;
4. Notes that budget neutrality is understood to mean that the implementation and operational costs of regional offices are offset by corresponding operational savings and efficiency gains. In this context, encourages selected countries hosting regional presence to make best efforts to offset implementation costs, including through in-kind or financial contributions, to promote co-location with other international organizations where feasible, and to facilitate the timely provision of such support;
5. Requests the Secretariat, in consultation with Budget Committee, to establish a robust, transparent tracking and reporting mechanism that clearly accounts for associated costs, realized savings, and net budget impacts, and to systematically reflect these in the Fund’s multi-year budgeting framework and annual budget submissions for Board consideration, including by ensuring that the multi-year budget to be presented at the forty-sixth Board meeting, for the first time, contains a dedicated section in the budget documentation detailing such tracking and reporting of costs and savings;
6. Also requests the Secretariat to advance the operationalization of regional presence consistent with the Board document GCF/B.44/17/Rev.01, including developing quantitative and qualitative indicators of the monitoring plan to support the assessment of the effectiveness of regional presence and capturing and applying lessons learned throughout the rollout of regional presence, ensuring business continuity and that the pace of implementation does not adversely affect ongoing operations through the Secretariat’s oversight of the rollout process;
7. Further requests the Secretariat to report to the Board at each subsequent meeting on the status of negotiations of the host country agreements, including any material issues affecting the conclusion of an agreement according GCF with appropriate privileges and immunities, consistent with those presented in Appendix II of document GCF/B.42/12;
8. Decides to periodically assess and review the effectiveness of regional presence through relevant processes, including the Fund’s performance review cycle;
9. Recalls decision B.02-12/04 for the selection of headquarters of the Green Climate Fund, and adopts a special one-off confidential balloting procedure to only apply to the selection of each host country and city for regional offices or locations, which follows paragraphs 26 to 29 and 31 to 35(c) of the Procedures for adopting decisions in the event that all efforts at reaching consensus have been exhausted, without setting a precedent, to enable the Board to select the host countries and cities by consensus;
10. Decides that, as part of the special one-off confidential balloting procedure, the count of ballots shall not be revealed to the Board during the balloting process until after four consecutive rounds have been completed for each regional office or location selection process; and
11. Also decides that the following host countries and cities are presented as options for the purpose of confidential balloting for each region, and takes note that their inclusion reflects their high total scores in the assessment of proposals, their relatively low costs under the cost consideration criterion, the principles set out in decision B.41/10, and the need for geographical representation within each regional office or location:
    1. Latin America and the Caribbean: Panama (Panama City), Dominican Republic (Santo Domingo), or Chile (Santiago);
    2. Eastern Europe, Central Asia and the Middle East: Georgia (Tbilisi), Uzbekistan (Tashkent), or Jordan (Amman);
    3. Africa:
       1. Location 1: East and Southern Africa: Kenya (Nairobi), Ethiopia (Addis Ababa), or Botswana (Gaborone); and 
       2. Location 2: Central, North and West Africa: Morocco (Rabat), Egypt (Cairo), Nigeria (Abuja), Côte d’Ivoire (Abidjan), or Senegal (Dakar).

The Board:

1. Selects the following host countries and cities for the regional offices, consistent with the following configuration:
   1. Panama / Panama City — for Latin America and the Caribbean;
   2. Jordan / Amman — for Eastern Europe, Central Asia and the Middle East;
   3. For Africa:
      1. Kenya / Nairobi — for location 1 – East and Southern Africa; and
      2. Côte d’Ivoire / Abidjan — for location 2 – Central, North and West Africa;
2. Welcomes the Host Country support offered in some of the proposals submitted by the selected host countries and cities;
3. Requests the Secretariat to initiate negotiations of host country agreements with the countries identified in paragraph (a) incorporating, where applicable, commitments on host country support; and
4. Further requests the Secretariat to advance with the operationalization of regional presence in line with the implementation plan contained in document GCF/B.44/17/Rev.01, to manage implementation with the objective of budget neutrality over time within the approved administrative budget envelope, and to reflect associated costs, efficiency gains and offsets through the Fund’s multi-year budgeting process and annual budget submissions for Board consideration.

The Board, having considered document GCF/B.44/16/Rev.01 titled “Review of committees: Co-Chairs’ proposal for an updated structure for Board committees”:

1. Establishes, effective as of 1 April 2026, the committees under the updated structure described in document GCF/B.44/16/Rev.01 and adopts the terms of reference for Board committees as set out in annex III, also effective as of 1 April 2026;
2. Confirms that the membership of the Ethics and Audit Committee and the Performance Oversight Committee remain unchanged;
3. Decides to disband the Private Sector Advisory Group established through decision B.05/13, paragraph (h);
4. Adopts updated General guidelines for the operation of Board committees, established through decision B.40/03, paragraph (a), as set out in annex IV;
5. Confirms that any references to the committees or functions listed in annex V shall, effective immediately, be interpreted as referring to their respective successor committees and functions established under paragraph (a) of this decision;
6. Decides that all existing mandates, delegated authorities, and procedural requirements previously assigned to the former committees remain in full force and effect for the respective successor committees;
7. Requests the Co-Chairs, with the support of the Secretariat, to continue to consult with the Board and present proposal(s) to increase the efficiency and effectiveness of Board governance and committees, prioritizing the delivery of existing mandates for consideration by the Board; and 
8. Decides to review the Board committee structure in two years’ time.

The Board, having considered document GCF/B.44/18 titled “Co-Chairs’ Roadmap for the updated Strategic Plan for the GCF 2028–2031”:

1. Recalls decision B.36/13, by which the Board adopted the updated Strategic Plan for the GCF 2024–2027;
2. Decides to conduct an open, inclusive, transparent consultation process engaging Board members and alternate Board members, national designated authorities, accredited entities, active observers, observer organizations and Parties to the United Nations Framework Convention on Climate Change and the Paris Agreement, members of GCF panels and groups including the Indigenous Peoples Advisory Group, and other stakeholders to inform the review and update of the Strategic Plan;
3. Requests the Secretariat to facilitate the open, inclusive, transparent consultation process through, inter alia:
   1. Calls for submissions;
   2. Engagement with national designated authorities and accredited entities on programming needs and opportunities; and
   3. Producing summaries of inputs and publishing inputs on the GCF website;
4. Takes note of the Co-Chairs’ Roadmap, which sets out a process to facilitate the adoption of the updated Strategic Plan for the GCF 2028–2031 no later than the second Board meeting in 2027; and
5. Requests the Co-Chairs to prepare a draft decision for consideration by the Board at its forty-fifth meeting in order to launch the replenishment process and decides that the process will be conducted in an open, transparent, and inclusive manner.

The Board, having considered document GCF/B.44/05 titled “Independent Evaluation of the GCF’s Simplified Approval Process”:

1. Takes note of the findings and recommendations in the Independent Evaluation of the GCF’s Simplified Approval Process undertaken by the Independent Evaluation Unit;
2. Notes the Secretariat’s management response to the evaluation report as presented in document GCF/B.44/05/Add.01; and
3. Requests the Independent Evaluation Unit to submit a management action report to the Board no later than one year following the adoption of this decision.

The Board, having considered document GCF/B.44/06 titled “Independent Evaluation of the GCF’s Approach to Country Ownership”:

1. Takes note of the findings and recommendations in the Independent Evaluation of the GCF’s Approach to Country Ownership undertaken by the Independent Evaluation Unit;
2. Notes the Secretariat’s management response to the evaluation report as presented in document GCF/B.44/06/Add.01; and
3. Requests the Independent Evaluation Unit to submit a management action report to the Board no later than one year following the adoption of this decision.

The Board, having considered document GCF/B.44/07 titled “Independent Evaluation of the GCF’s Approach to and Portfolio of Climate Information and Early Warning System Interventions”:

1. Takes note of the findings and recommendations in the Independent Evaluation of the GCF’s Approach to and Portfolio of Climate Information and Early Warning System Interventions undertaken by the Independent Evaluation Unit;
2. Notes the Secretariat’s management response to the evaluation report as presented in document GCF/B.44/07/Add.01; and
3. Requests the Independent Evaluation Unit to submit a management action report to the Board no later than one year following the adoption of this decision.