PRESSRELEASEforuseofthemediaonly
22February2014
GCF‐PA.02/14
Page1of2
GreenClimateFundBoardtakeskeydecisionsonoperations
andmakesprogresson‘EssentialEight’
(Bali,Indonesia,22February2014)–TheBoardoftheGreenClimateFundmetthisweekin
Indonesiatoprogresstheeightessentialrequirementsforitsinitialresourcemobilizationand
takefundamentaldecisionstoadvancetheinstitution’soperations.
Duringthreedaysofmeetings,Boardmembersagreedonseveralkeydecisionsthatwillshape
theFund’sworkstreamsandactivitiesasitmovesforward,includingthefollowingparameters
andguidelinesforallocationofresourcesduringitsinitialphase:
 TheFundwillaimfora50:50balancebetweenmitigationandadaptationovertime;
 TheFundwillaimforaflooroffiftypercentoftheadaptationallocationforparticularly
vulnerablecountries,includingleastdevelopedcountries,smallislanddevelopingStates
andAfricanStates;
 TheFundwillmaximize engagement with the private sector, including through a
significant allocation to the Private Sector Facility, in order to provide incentives that
encourage a paradigm shift to low-carbon development;

TheFundwillbealeaderongendermainstreamingandwilldefineitsgenderaction
planinOctober2014.
TheBoardalsodiscussedadditionalkeyelementsthatwillshapetheFund’ssupportfor
low‐carbonandclimate‐resilientdevelopment:itsresultmanagementframework,therisk
managementandinvestmentframeworks,theaccreditationframeworkandtheproposal
approvalprocess.
InMay,theBoardaimstotakekeydecisionsontheremainingessentialrequirementsthatwill
allowtheFundtoreceive,manage,programmeanddisbursefunds.TheBoardalsomandated
theSecretariattodevelopacomprehensiveworkprogrammeonreadinessandpreparatory
support,whichwillstimulatedevelopingcountriestobenefitfromtheFund.
SpeakingimmediatelyaftertheBoardmeeting,Co‐ChairMr.ManfredKonukiewitz(Germany)
stated:
“WediscussedheartandboneissuesfortheFundhereatBali–policiesandproceduresthatshould
maketheFundasuccessstory.Wehavetomakesurethatthisinstitutionbecomestheinnovative
andambitiousinstrumentofclimatefinance–asignificantfundthatwillmakethedifferencefor
peopleindevelopingcountriesandtheplanet.”
SecretariatoftheGreenClimateFund
24‐4Songdo‐Dong,Yeonsu‐gu•IncheonCity,RepublicofKorea
Telephone:+82324586059•Fax:+82324586094
[email protected]•www.GCFund.net
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Co‐ChairMr.JoseMariaSarteSalceda(Philippines)stated:
“DecisionstakenthisweekensurethattheFundcanhelpdevelopingcountriestocopewiththe
devastatingimpactsofclimatechangeandbecomemoreclimate‐resilient.Weneedtoputinplace
theessentialrequirementssothatthedevelopingworldcanaccessclimatefinanceforscalable
projectsandinvestments,withaprojectedfloorof50%ofinitialadaptationallocationsbeing
reservedforthemostvulnerablecountries.”
SpeakingatadinnerhostedbytheIndonesiangovernment,Mr.BambangBrodjonegoro,the
Vice‐MinisterofFinance,stated:
“DuringthisBoardMeetinginBali,IndonesiaannouncesitspledgetocontributetotheFund.
Indonesiaalsostandsreadyifallcountriesarerequiredtocontributeforthecapitalbaseofthe
Fund.IamhopingthiscontributioncansupporttheFund’sactivitiesinhelpingdeveloping
countriestoprepareandfinanceemissionsreductionandadaptationprograms,includingcapacity
buildingprogramsundertheSouth‐Southcooperationthatreplicatethesuccessstoriesofclimate
changeprogrammesinothercountries.Idohopeothermorecapablecountriescanconsider
makingpledges,oraddingtotheirpledges,ormakinganindicationoftheirpledgesduringthis
Balimeeting.”
ItwasalsodecidedthattheFundwouldmanageaccesstoresourceswithaviewtoseeking
geographicalbalanceandareasonableandfairallocationacrossabroadrangeofcountries,
whilemaximizingthescaleandtransformationalimpactofthemitigationandadaptation
activitiesoftheFund.
ThefulldecisionsofthesixthmeetingoftheBoardwillbeavailableontheFund’swebsite: <GCFund.net>,whichalsocontainsmoreinformationontheGreenClimateFund.
TheGreenClimateFund(theFund)isanewmultilateralfundthatwasagreedbyPartiesatthe
2010UnitedNationsFrameworkConventiononClimateChangeconferenceheldinCancun,
Mexico,anddesignatedasanoperatingentityoftheConvention’sfinancialmechanism.The
Fund’sGoverningInstrumentwasdevelopedandapprovedin2011.TheFund’spurposeisto
promote,withinthecontextofsustainabledevelopment,theparadigmshifttowardslow‐
emissionandclimate‐resilientdevelopmentpathwaysbyprovidingsupporttodeveloping
countriestohelplimitorreducetheirgreenhousegasemissionsandtoadapttothe
unavoidableimpactsofclimatechange.