B.05/07: Business model framework: Financial instruments

The Board, having reviewed document GCF/B.05/07 Terms and Criteria for Grants and Concessional Loans:

1. Decides to adopt, for the initial operationalization of the Fund, the principles and factors for the terms and conditions of grants and concessional loans, as contained in Annex III to this document;
2. Takes note of the criteria for the terms and conditions of grants and concessional loans, as contained in Annex IV to this document;
3. Requests the Secretariat to develop terms and conditions of grants and concessional loans for consideration by the Board at its first meeting in 2014, guided by these principles and criteria, and taking into consideration progress on the business model framework; and
4. Further requests the Secretariat to prepare a document for consideration by the Board at its third meeting in 2014 on the use of other financial instruments.