Summaries of GCF Documents for BM16
The following contents are summaries of the documents available online on the GCF’s website. More documents are accessible which are not include among the summarized documents below. The summaries were originally intended for internal circulation only.
Summaries of GCF documents
Status of the GCF portfolio
On March 14th, the GCF Secretariat provided an update on its portfolio (including the pipeline of projects and programmes) for the reporting period of 1 November 2016 to 31 January 2017 as requested by the Board.
At the end of this reporting period, the GCF pipeline is comprised of 50 public and private sector funding proposals, request a total GCF funding of USD 3.5 billion to support projects and programmes (totaling USD 14.3 billion when taking co-financing into account)
The report also provides a distribution of the pipeline by geography, theme and financial instrument, as well as an update on the status of the funding proposals progress.
The climate impact potential of the pipeline is estimated to be 2.5 billion tonnes of carbon dioxide equivalent reduced or avoided over the lifetime of the proposed activities, and 174 million people that are projected to benefit from it.
Finally, the report also provides updates regarding the status of the concept note pipeline and first pilot programme to support SMEs. Read the document here.
Consideration of funding proposals
The reports present the 9 funding proposals which have gone through the four stages of the proposal review and approval process and are ready to be considered by the Board at its next meeting. These represent USD 855 million of GCF funding, supporting projects and programmes with a total value of USD 2.9 billion.
These programs are the following: (1) GEEREF NeXt, (2)GCF-EBRD Egypt renewable energy financing framework, (3) Tajikistan: scaling up hydropower sector climate resilience, (4) Simiyu climate resilience project, (5) Irrigation development and adaptation of irrigated agriculture to climate change in semi-arid Morocco, (6) The Saïss water conservation project, (7) Tina River hydropower development project, (8) Ground water recharge and solar micro irrigation to ensure food security in Odisha, and (9) Responding to the increasing risk of drought: building gender responsive resilience of the most vulnerable communities
The report includes details about the geographical and regional distribution of the projects, details regarding their financial instruments, as well as an updated projected total portfolio composition and a draft decision regarding funding by the Board. Read the document here.
Progress and outlook report of the readiness and preparatory support programme.
The report provides an overview of the progress made by the Readiness and Preparatory Support Programme since its inception.
As of March 2017 the GCF has engaged with 111 countries on 172 readiness requests. Since the launch of the Programme, the Secretariat committed a total of USD 27.4 million, and the Secretariat has approved 60 requests from 58 countries to strengthen the institutional capacity of their NDAs or focal points and to develop country programmes. Regarding accreditation, the Secretariat has provided in-kind accreditation support to 80 entities of 43 countries.
The report also provides detailed updates on the support for adaptation planning processes and for strategic frameworks.
Finally, it lays a workplan for 2017 including expected results and estimated submissions and approvals. You can read the document here.
Report on the activities of the Secretariat
Through this report, the Secretariat informed the Board of the progress made between December 2016 and February 2017 regarding activities it was mandated for, notably matters related to (1) country programming, (2) mitigation and adaptation, (3) support services and other administrative matters, (4) Private Sector Facility, (5) legal affairs, (6) risk and (7) the work of the Secretary to the Board. See the document here.
Decisions taken between the fifteenth and sixteenth meetings of the Board
The document aims to inform the Board on the decision proposed by the Secretariat between the fifteenth and sixteenth meetings of the Board, as required by rules of procedures. The proposed decision is relative to the accreditation of observer organizations and was transmitted to the Board for approval. Read the document here.
Matters related to accreditation framework and policy – Report of the Accreditation Committee
This report realized by the Accreditation Committee, with the support of the Secretariat, contains updates and a development of the accreditation framework. It details the types of entities eligible for accreditation to the GCF, criteria for eligibility and defines access modalities for that accreditation, as well as information on post-accreditation and upgrading. Finally, it also lays ground for an additional policy guidance to be developed. Read the document here.
Status of the Resource Mobilization Process
This document, which includes the financial report of the GCF prepared by the World Bank, provides an update for the Board on the Initial Resource Mobilization process on several items, (a) The status of signing for contribution agreements/arrangements; (b) The current commitment authority highlighting the current cash and promissory notes available; and (c) The forecast of available resources for commitment and disbursement.
The total of signed countries/regions/cities since the 2014 High-level Pledging Conference held in Germany is 44 and the signed amount to approximately USD 10.1 billion equivalent. 8 countries had not signed the contribution agreements for part or all of their pledges.
The tables included indicate the total commitment authority is 1,865 millions of USD as of 31 December 2016 and 2447.80 for 2017 and 1,527.90 in 2018. The tables also include the total projected cash available for disbursement over the 2017 – 2023 period; finally, the document lays down the plans for a hedging strategy to mitigate the impact of foreign exchange variations. Read the document here.