Legal and formal arrangements with intermediaries and implementing entities were discussed at the eighth meeting of the Board. Based on guidance received from the Board, as well as on subsequent feedback from a number of potential accredited entities, the document presented to the Board as GCF/B.08/23 has been substantially revised.

By its decision B.07/02, the Board decided that the accreditation process for intermediaries and implementing entities will comprise three main stages. Stage III will include the conclusion of legal arrangements between the accredited entity and the Green Climate Fund (the Fund). This document describes these legal arrangements. There are various possible funding arrangements foreseen between the Fund and accredited implementing entities and/or intermediaries.