The document reports on the execution of the GCF 2020 administrative budget for the year ended 31 December 2020. Administrative expenditure relates to costs for Board activities, the independent units, the Secretariat, the Trustee and the COVID-19 budget. The figures in this document are unaudited.

As at 31 December 2020, total expenditure was USD 64 million for annual budgets (74 per cent of the approved budget). The unutilized budget of USD 22.6 million comprises USD 1.8 million for the Board, USD 2.9 million for the independent units, and USD 17.9 million for the Secretariat.

Out of the approved COVID-19 budget of USD 1.4 million, 0.3 million (22 percent) was utilized.