This document presents the 2020 work programme of the Secretariat and the proposed 2020 administrative budget of the Secretariat, the Board and the Trustee. It includes a draft decision for Board consideration, a framework for an output-based budget, a provisional results framework designed to support an assessment of the Secretariat’s progress on key work programme targets and a consolidated overview of the budget of the GCF that includes the budgets of the independent units.