This document proposes modalities that will facilitate the engagement of private sector actors in least developed countries and small island developing States, based on Private Sector Advisory Group (PSAG) recommendations. It further benefits from (i) experience gained by the Private Sector Facility in its current engagements with least developed countries and small island developing States; (ii) knowledge and insights gained while articulating the Private Sector Facility’s long‐term strategy to engage the private sector in developing countries as relevant for GCF operations; and (iii) an analysis of the Private Sector Facility’s current portfolio and pipeline.