B.06/06: Policies and procedures for the initial allocation of Fund resources

The Board, having reviewed document GCF/B.06/05 Policies and Procedures for the Initial Allocation of Fund Resources,

1. Adopts the following initial parameters and guidelines for allocation of resources, during the initial phase of the Fund:
   
   1. Decision to aim for a 50:50 balance between mitigation and adaptation over time;
   2. Decision to aim for a floor of fifty per cent of the adaptation allocation for particularly vulnerable countries, including least developed countries (LDCs), small island developing States (SIDS) and African States;
   3. Decision to manage access to resources with a view to seeking geographic balance and a reasonable and fair allocation across a broad range of countries, while maximizing the scale and transformational impact of the mitigation and adaptation activities of the Fund;
   4. Decision to maximize engagement with the private sector, including through a significant allocation to the Private Sector Facility;
   5. Decision that sufficient resources should be provided for readiness and preparatory support;
   6. Decision that all allocation parameters should be determined in grant equivalents;
2. Requests the Secretariat to report annually on the status of resources in respect of the allocation parameters;
3. Decides to undertake a review of the initial allocation parameters and guidelines, including of concentration risks, subject to the size of the Fund, no later than two years from the start of allocation of resources.