B.07/03: Initial proposal approval process, including the criteria for programme and project funding
The Board, having reviewed document GCF/B.07/03, Initial Proposal Approval Process, Including the Criteria for Programme and Project Funding:
- Adopts the initial proposal approval process, as contained in Annex VII;
- Recognizes that the initial proposal approval process will identify programmes and projects for Board consideration that best achieve the Fund’s objectives, and requests the Secretariat to develop methodologies for the selection process;
- Takes note of the initial post-approval items contained in Annex VIII and requests the Secretariat to further develop them for further consideration by the Board at its ninth meeting;
- Confirms that the criteria for programme and project funding are outlined in decision B.07/06 on the investment framework;
- Notes convergence on the need to consider: proposal development funds; early endorsement prior to full proposal development; the initial proposal approval process for regional programmes and projects; and a policy for cancellation and termination;
- Decides to establish an independent technical advisory panel composed of experts to provide an independent technical assessment of and advice on funding proposals for the Board;
- Requests the Secretariat to present draft terms of reference for the independent technical advisory panel for consideration by the Board at its eighth meeting;
- Further requests the Secretariat to develop an operations manual and an appraisal toolkit for the initial proposal approval process for programme and project funding;
- Also requests the Secretariat in the development of the Fund’s information disclosure policy to address issues related to the initial proposal approval process
- Decides to review the initial proposal approval process and to take action when it deems necessary. 3