In decision B.22/16, the Board decided to streamline the accreditation process in order to accelerate the review and consideration of entities applying for accreditation. In decision B.24/13, the Board decided to defer its consideration of the project-specific assessment approach to its twenty-fifth meeting (B.25). In line with decisions B.22/16, paragraph (d), and decision B.24/13, this document presents the updated accreditation framework, including the project-specific assessment approach, for the Board’s consideration. The updated accreditation framework incorporates Board decisions taken at B.23, B.24 and B.26 regarding GCF policies that affect the accreditation and the re-accreditation process.