In line with decision B.18/04, paragraphs (a) and (b), this document presents an initial review of the accreditation framework and a proposes a project-specific assessment approach as a complementary modality to accreditation in order to accelerate proposals submitted under the Simplified Approval Process and Request for Proposals approved by the Board. The document also includes next steps for completing the review of the accreditation framework and introduces potential other modalities to be analyzed further with a view to presenting it to the Board as early as its twentieth meeting.