Green Climate Fund B.19 Summary

Pacific Summary of the Green Climate Fund 19th Meeting of the Board

26 February – 1 March 2018,

GCF Headquarters, Songdo, Korea

 

Approved Projects

The following projects were approved at B.19

FP066: Pacific Resilience Project Phase II; Marshall Islands, World Bank.

The project will focus on enhancing the resilience of coastal infrastructure in the areas of the capital Majuro and the island of Ebeye. It will include strengthening institutions and improving access to early warning and disaster preparedness.

For more information https://www.greenclimate.fund/-/pacific-resilience-project-phase-ii-for-rmi

Review of accreditation framework

The ongoing review of the accreditation framework has continued with the recommendation the Board establish a project-specific assessment approach for entities to receiving GCF funding without going through the accreditation process. This would apply to proposals submitted under the Simplified Approval Process (ASP).

While this received support from some board members, it was met with caution from others who considered the approach pre-mature and should only be considered once the full review of the accreditation process has been discussed at the next board meeting.  The Accreditation Committee suggested the prioritisation of certain entities, including direct access entities.

Other Pacific-relevant news

The Private Sector Advisory Group (PSAG) provided recommendations on the development of modalities to support private sector involvement in LDCs and SIDS.

Recommended support included assisting in the development of policy, regulatory and financial institutional frameworks, encouraging the GCF to work with partners to aggregate smaller scale climate projects and supporting best practices within LDCs and SIDS.

B.20 Meeting

The B.20 Board meeting will be held in Songdo, Korea from the 1 – 4 July 2018.

For access to an independent overview of substantive points of action from the 19th Green Climate Fund Board meeting, please refer to the Climate Finance Advisory Service (CFAS) Briefing service.