GCF/B.12/32
Page16
ClimateFundandtheInternationalBankforReconstructionandDevelopment,servingas
theInterimTrusteeoftheGreenClimateFundTrustFund,dated9December2015as
containedinannexX.
Agendaitem17:Considerationofaccreditationproposals
TheBoardtooknoteofdocumentGCF/B.12/07titled“Considerationofaccreditation
proposals”.
36.
37.
TheBoardadoptedthefollowingdecision:
DECISIONB.12/30
TheBoard,havingconsidereddocumentGCF/B.12/07titled“Considerationof
accreditationproposals”,
(a)
Takesnotewithappreciationofthein‐depthassessmentconductedbythe
AccreditationPanelcontainedwithintherelevantannexesforthefollowingapplicants:
(i)
Applicant021(APL021)istheAgencyforAgriculturalDevelopmentofMorocco
(ADA)basedinMorocco,ascontainedinannexXI;
(ii)
Applicant022(APL022)istheMinistryofFinanceandEconomicCooperationof
theFederalDemocraticRepublicofEthiopia(MOFEC)basedinEthiopia,as
containedinannexXII;
(iii)
Applicant023(APL023)istheNationalEnvironmentManagementAuthorityof
Kenya(NEMA)basedinKenya,ascontainedinannexXIII;
(iv)
Applicant024(APL024)istheDevelopmentBankofSouthernAfrica(DBSA)based
inSouthAfrica,ascontainedinannexXIV;
(v)
Applicant025(APL025)istheCréditAgricoleCorporateandInvestmentBank
(CréditAgricoleCIB)headquarteredinFrance,ascontainedinannexXV;
(vi)
Applicant026(APL026)istheHSBCHoldingsplcanditssubsidiaries(HSBC)
headquarteredintheUnitedKingdomofGreatBritainandNorthernIreland,as
containedinannexXVI;
(vii)
Applicant027(APL027)istheAfricanDevelopmentBank(AfDB)headquarteredin
Côted’Ivoire,ascontainedinannexXVII;
(viii)
Applicant028(APL028)istheEuropeanInvestmentBank(EIB)headquarteredin
Luxembourg,ascontainedinannexXVIII;
(ix)
Applicant029(APL029)istheInternationalFinanceCorporation(IFC)
headquarteredintheUnitedStatesofAmerica,ascontainedinannexXIX;
(x)
Applicant030(APL030)istheUnidadParaelCambioRural(UnitforRural
Change,UCAR)basedinArgentina,ascontainedinannexXX;
(xi)
Applicant031(APL031)istheInternationalUnionforConservationofNature
(IUCN)headquarteredinSwitzerland,ascontainedinannexXXI;
(xii)
Applicant032(APL032)istheWorldFoodProgramme(WFP)headquarteredin
Italy,ascontainedinannexXXII;and
(xiii)
Applicant033(APL033)istheWorldMeteorologicalOrganization(WMO)
headquarteredinSwitzerland,ascontainedinannexXXIII;
GCF/B.12/32
Page17
(b)
AccreditsAPL021,APL022,APL023,APL024,APL025,APL026,APL027,APL028,APL029,
APL030,APL031,APL032andAPL033pursuanttoparagraph45oftheGoverning
InstrumentfortheGCF,andsubjectto,andinaccordancewith,theassessmentbythe
AccreditationPanelcontainedintherelevantannexesforeachoftheapplicantentities.A
summaryoftherecommendedaccreditationtypeandconditionsandremarks,ifany,for
eachapplicantiscontainedinannexXXIV;
(c)
RecallingdecisionB.10/06,paragraph(j),anddecisionB.11/10,annexI,paragraph35,
theBoardunderlinesitsexpectationthataccreditedentitieswilladvancethegoalofthe
GCFtopromotetheparadigmshifttowardslow‐emissionandclimate‐resilient
developmentpathwaysinthecontextofsustainabledevelopment,whichincludesshifting
theiroverallportfoliosinlinewiththisdirection;
(d)
RequeststheAccreditationPanel,withthesupportoftheSecretariatasnecessary,to
establishabaselineontheoverallportfolioofaccreditedentities,includingthosealready
accreditedatanearlierstage,thatallowsforanassessmentoftheextenttowhichthe
accreditedentities'overallportfoliosofactivities,beyondthosefundedbytheGCF,have
evolvedinthisdirectionduringtheaccreditationperiod;
(e)
NotesthattheAccreditationPanelhasrecommendedtheaccreditationofapplicant26and
furthernotesthatinitsreviewtheAccreditationPanelidentifiedapotentialinformation
gapassociatedwiththeimplementationofitsGlobalStandardsprogramme,which
overviewstheapplicant'sprogressinimplementingstrongeranti‐moneylaunderingand
sanctionscompliancemechanisms(GlobalStandards);
(f)
RequeststhattheAccreditationPanelreviewpriortothefourteenthandsixteenth
meetingsoftheBoard,theapplicant'sprogressinimplementingitsGlobalStandard,
includingareviewofmaterialexternalinformation.Furtherrequeststhatthe
AccreditationPanelreporttotheBoardonwhethertheresultsofthesereviewswould
alteritsrecommendationtoaccredittheapplicant;
(g)
Approvestheaccreditationofapplicant26subjecttotheconditionthattheBoardhasthe
abilitytotemporarilyorpermanentlysuspendtheapplicant'saccreditationbasedonthe
recommendationoftheAccreditationPanelfollowingitsreviews;
(h)
Takesnotethattheprocessoutlinedforapplicant026appliesonlyinthiscase,without
prejudicetofurtherdecisions;
(i)
Takesnotethat,pursuanttodecisionB.08/03,paragraph(k),theSecretariat,in
consultationwiththeAccreditationPanel,isproposingthattheeligibilitytoapplyunder
thefast‐trackaccreditationprocessbeextendedtothoseentitieslistedinannexXXV;and
(j)
DecidesthatthoseentitiesreferredtoinannexXXVarealsoeligibletoapplyunderthe
fast‐trackaccreditationprocessforthestandardsoftheGCFinaccordancewithdecision
B.08/03,paragraph(f),forentitiesaccreditedbytheAdaptationFund,anddecision
B.08/03,paragraph(g),forentitiesundertheDirectorate‐GeneralforInternational
DevelopmentandCooperationoftheEuropeanCommission(DGDEVCO).
Agendaitem18:LegalandformalarrangementswithAccredited
Entitles
Agendaitem18(a):AccreditationMasterAgreements
Agendaitem18(b):ReadinessGrantAgreement
GCF/B.12/32
Page69
AnnexXIV:AccreditationassessmentofApplicant024(APL024)
I.
Introduction
Applicant0024(APL0024),theDevelopmentBankofSouthernAfrica(DBSA)basedin
SouthAfrica,isanationalentity,specificallyadevelopmentfinanceinstitution,withamandate
tofinancebothprivateandpublicsectoractivitiesatnationalandregionallevelsinAfrica.The
applicantprovidessustainableinfrastructureprojectpreparation,financeandimplementation
supportinordertoimprovethepopulation’squalityoflife,acceleratingthesustainable
reductionofpovertyandinequity,andpromotingbroad‐basedeconomicgrowthandregional
economicintegration.Theapplicantprimarilyfocusesonthewater,energy,transport,and
informationandcommunicationtechnologysectors.Itofferssecondaryservicesatthelocal
levelinthehealth,educationandhousingsectors.Itsenvironmentandclimatechangeportfolio
forthefinancialyear2014/2015isworthapproximatelyUS$530millionandincludes
renewableenergy,energyefficiency,biodiversityandsustainablelandmanagementprojects.
Theapplicantinpartnershipwiththenationalenvironmentalaffairsdepartmenthas
establishedandmanagesaspecialfundasanationalmechanismthataimstoprovidecatalytic
financetofacilitateinvestmentinhigh‐impactandsustainablegreeninitiativesinthecountryin
whichitisbased,aswellastosupportpovertyreductionandjobcreation.Theapplicantseeks
accreditationtotheGCFtosupport,asaco‐financierandprovideroftechnicalcapabilitiesand
support,theGCFinactingasakeycontributortoinnovativeandrisk‐sharingapproachesin
projectsthatcontributetowardslow‐carbonandclimate‐resilientdevelopment. 1.
TheapplicantsubmitteditsapplicationforaccreditationtotheSecretariatviatheOnline
AccreditationSystemon26April2015.StageI,institutionalassessmentandcompleteness
check,andtheStageII(Step1),accreditationreview,wereconcluded.Ithasappliedtobe
accreditedagainstthefollowingparametersunderthefit‐for‐purposeapproachoftheGCF:
2.
(a)
Accessmodality:directaccess,regional.Theapplicantreceivedanationaldesignated
authorityorfocalpointnominationforitsaccreditationapplication;
(b)
Track:fasttrackundertheGlobalEnvironmentFacility(GEF)andtheDirectorate‐
GeneralforInternationalDevelopmentandCooperationoftheEuropeanCommission
(DGDEVCO);
(c)
Sizeofanindividualprojectoractivitywithinaprogramme:large;1
(d)
Fiduciaryfunctions:2
(i)
Basicfiduciarystandards;
(ii)
Specializedfiduciarystandardforprojectmanagement;
(iii)
Specializedfiduciarystandardforgrantawardand/orfundingallocation
mechanisms;and
(iv)
Specializedfiduciarystandardforon‐lendingand/orblending(forloans,equity
andguarantees);and
1AsperannexItodecisionB.08/02(annexItodocumentGCF/B.08/45),“large“isdefinedas“totalprojectedcostsat
thetimeofapplication,irrespectiveoftheportionthatisfundedbytheGCF,ofaboveUS$250millionforan
individualprojectoranactivitywithinaprogramme“.
2DecisionB.07/02.
GCF/B.12/32
Page70
(e)
Environmentalandsocialriskcategory:highrisk(CategoryA/Intermediation1
(I‐1)3).
II.
Accreditationassessment
3.
Theapplicantiseligiblefor,andappliedunder,thefast‐trackaccreditationprocessasa
GEFagencyandDirectorate‐GeneralforInternationalDevelopmentandCooperationofthe
EuropeanCommissionentity.ItsapplicationhasbeenassessedagainstGCFstandardsbythe
AccreditationPanel(AP)inaccordancewiththerequirementsandgapsidentifiedindecisions
B.08/03andB.10/06.
Aspartofthisassessment,theAPhasconsultedtheapplicant’swebsiteandthird‐party
websitestocomplementtheinformationprovidedbytheapplicantinitsapplication.
4.
2.1
Fiduciarystandards
2.1.1
Section4.1:Basicfiduciarystandards:keyadministrativeandfinancial
capacities
5.
Asperparagraph3above,thebasicfiduciarystandardsconcerningkeyadministrative
andfinancialcapacitiesisconsideredtohavebeenmetbywayoffast‐trackaccreditation.
2.1.2
Section4.2:Basicfiduciarystandards:transparencyandaccountability
6.
Asperparagraph3above,thebasicfiduciarystandardsconcerningtransparencyand
accountability,withtheexceptionofitem4.2.5,anti‐moneylaundering(AML)andcountering
thefinancingofterrorism(CFT)policies,havebeenmetbywayoffast‐trackaccreditation.
Regardingitem4.2.5,theapplicanthascomprehensiveAML/CFTpolicies,whichare
requiredunderthecountry’slaws.Tocombatmoney‐launderingandthefinancingofterrorism,
theapplicantcarriesout‘know‐your‐customer’(KYC)duediligenceonallofitsprospectiveand
existingclients.Theapplicant’sKYCduediligenceproceduresaresetoutinitsAML/CFT
policies.TheKYCduediligenceprocessinvolvestheverificationofthebeneficiarylegalentity,
itsdirectors,andthebeneficiaries’shareholderswithashareholdingofmorethan25percent,
aswellasverificationoftheresidentialaddressfortheindividualclient.Additionally,the
applicant’scomplianceunitconductsasanctionsscreeningusingtheDowJonessystemtoverify
whetherthebeneficiary,shareholdersoritsdirectorsarelistedonanyofthesanctionlists.In
additiontoKYCduediligence,theapplicantroutinelymonitorselectronicfundstransferin
collaborationwiththecountry’scentralbank,specificallyitsdepartmentsresponsiblefor
financialsurveillanceandintelligence.Furthermore,theapplicantverifiesthebeneficiary’s
bankingdetailsbyrequestingastampedletterfromthebankconfirmingthebeneficiary’s
bankingdetails.SamplecopiesofrecentreportsonKYCduediligenceundertakenwere
providedasevidenceoftheapplicantimplementingitspolicy.
7.
2.1.3
Section5.1:Specializedfiduciarystandardforprojectmanagement
Asperparagraph3above,thespecializedfiduciarystandardforprojectmanagementis
consideredtohavebeenmetbywayoffast‐trackaccreditation.
8.
3AsperannexItodecisionB.07/02(annexItodocumentGCF/B.07/11),categoryAisdefinedas“Activitieswith
potentialsignificantadverseenvironmentaland/orsocialrisksand/orimpactsthatarediverse,irreversible,or
unprecedented”andintermediation1isdefinedas“Whenanintermediary’sexistingorproposedportfolioincludes,
orisexpectedtoinclude,substantialfinancialexposuretoactivitieswithpotentialsignificantadverse
environmentaland/orsocialrisksand/orimpactsthatarediverse,irreversible,orunprecedented”.
GCF/B.12/32
Page71
2.1.4
Section5.2:Specializedfiduciarystandardforgrantawardand/orfunding
allocationmechanisms
Asperparagraph3above,thespecializedfiduciarystandardforgrantawardand/or
fundingallocationmechanismisconsideredtohavebeenmetbywayoffast‐trackaccreditation.
9.
2.1.5
Section5.3:Specializedfiduciarystandardforon‐lendingand/orblending
Theapplicanthasaproventrackrecord,institutionalexperienceandcapacitiesfor
on‐lendingandblendingwithresourcesfrominternationalormultilateralsources.The
applicanthaswell‐documentedpolicies,guidelinesandprocedureswithclearlydefined
institutionalrolesandresponsibilitiesforitson‐lendingandblendingoperations.Theexamples
ofduediligencereportsonon‐lendingandblendingoperationsprovidedclearlyshoweffective
useofandcompliancewiththeestablishedpoliciesandprocedures.
10.
Theapplicanthassuitableinvestmentmanagementpolicies,guidelinesandprocedures
inplace,which:
11.
(a)
Ensuresoundinvestmentmanagement,includinganalysisofthelendingportfolioofthe
intermediariestowhichitprovidesresources;and
(b)
AimtoprovideassurancethattheGCFsprovidedbytheapplicantarechannelled
transparentlyandusedeffectively.
12.
Theapplicanthasalsodemonstratedsoundfinancialriskandmanagementpolicies,
proceduresandgovernance/organizationalstructuresthatensureappropriatesegregationof
dutiesofthetreasuryfunctionandoperations.Inrelationtoitssystemsforprovidingthe
generalpublicwithaccesstoinformationonitson‐lendingandblendingoperations,the
applicantpublishesinformationonbeneficiaries,aswellastheresultsoftheprojectsand
programmesitfinances.
2.2
Environmentalandsocialsafeguards
2.2.1
Section6.1:Policy
Theapplicanthasawell‐establishedenvironmentalandsocialmanagementsystem
(ESMS)inplace,thedevelopmentandapprovalofwhichwasbasedontheexperiencegained
andlessonslearnedbyotherinternationaldevelopmentorganizations.AsapartofitsESMS,the
applicanthasawell‐developedenvironmentalandsocialsafeguards(ESS)policybasedonaset
ofthecomprehensiveESSstandardsandsector‐specificguidelines.Thepolicycommitsthe
applicanttoensurethatithasthenecessarysystemsinplacetoimplementitsESSandthatit
periodicallyupdatesandrevisesthesafeguards.Thepolicyiswellcommunicatedtoallstaffin
theorganizationandispublicallyavailableontheapplicant’swebsite.TheESSpolicyisfully
consistentwiththeinterimESSoftheGCF.
13.
TheESSpolicyiscomplementedbytheinstitutionalandsocialappraisalguidelines,
whichareemployedtoensurethattheapplicantpromotessustainabledevelopmentthroughout
itsoperationsbyconductingenvironmentalandsocial(E&S)projectappraisalsinaconsistent
manner.
14.
2.2.2
Section6.2:Identificationofrisksandimpacts
Theapplicanthasawell‐developedandcomprehensiveE&Sriskandimpactsthe
identificationandcategorizationprocessthatisfullyconsistentwiththeinterimESSoftheGCF.
Theriskidentificationandcategorizationprocesswasoutlinedintheapplicant’sproceduresfor
implementingitsESSstandards,environmentalappraisalframework,andsocialand
institutionalguidelines.Thesestandardsaresupportedbyanumberofsectoralguidelinesand
15.
GCF/B.12/32
Page72
termsofreferenceforparticularsectors,suchasecosystem,forest,waterandlandresource,
waterandwasteutilization,andpestmanagement,amongothers.Evidenceoftheapplicant’s
experienceinconductingE&Sriskandimpactassessmentandcategorizationwasprovidedin
theformofappraisalreportsonspecificprojectsandprogrammesthatweredevelopedwithin
thepastthreeyears.Theapplicant’sseniormanagementreviewseachintegratedappraisal
projectreporttoensurethequalityofinputandconsistencyofcategorization.TheE&Sriskand
impactidentificationprocesssetoutintheenvironmentalassessmentdocumentisconsistent
withtheinterimESSoftheGCFrelatedtoaccreditation(performancestandard1)andthe
project/programmelevel(performancestandards2to8).
2.2.3
Section6.3:Managementprogramme
16.
MitigationmeasuresforidentifiedprojectorprogrammeE&Srisksandimpactsare
managedusingclearlyestablishedproceduresthatincludetheassignmentofrolesfor
responsiblestaff.TheE&SriskmitigationmeasuresandactionsarepartoftheE&S
managementplansthataredevelopedandimplementedforeachprojectthroughsupervision
bymanagersofthecorrespondingunits.
TheapplicantalsoprovidedevidenceofitsESMSimplementationandofthe
effectivenessofitsE&Smanagementprogrammeintheformofprojectportfoliodocumentsthat
containtheassessmentofE&Srisks,whichareinlinewiththeinterimESSoftheGCF,E&S
issuesidentifiedinprojectmonitoringduringimplementationsitevisits,andrecommendations
andactionstakentoaddresstheseissues.Unitmanagersareultimatelyresponsibleforthe
implementationoftheapplicant’sESSintheapplicant’sprojectsandprogrammes,andthe
divisionalmanagersandthegroupexecutivemanagersignthefinalreportsonthe
implementationoftheE&Smanagementprogramme.
17.
2.2.4
Section6.4:Organizationalcapacityandcompetency
TheapplicanthasaclearorganizationalstructurewithrespecttoE&Smanagementand
theinformationprovidedontheexecutivemanagementresponsibleforoverseeingthe
implementationofESMS,ESSpolicyandESSstandards.Theapplicant’sE&Steamconsistsof
qualified,skilledandexperiencedenergy,socialandenvironmentalanalystsandcountryrisk
analysts.Theenvironmentalanalystsandsocialspecialistsattendvarioustrainingworkshops
ontheESScontinuously,climatechangemitigationandadaptationprojects,sustainableland‐
useplanning,internationalenvironmentallawandE&Smanagementtools.
18.
TheapplicantensuresthattheE&Sriskandimpactcategorizationofprojectsis
completedbysocialandenvironmentalanalysts,whoconductregulartrainingprogrammesfor
staffresponsibleforE&Smanagementissues,includingtheimplementationofESSstandards.
19.
2.2.5
Section6.5:Monitoringandreview
20.
Theapplicanthasamaturemonitoringandevaluationpolicyframework,whichdefines
theprinciplesthatguideE&Smonitoringforprojectsorprogrammesimplemented.The
applicanthasdemonstratedthatthemonitoringsectionsofE&Smanagementplansprovide
comprehensiveanalysesofthetechnicaldetailsofmonitoringE&Sriskmitigationmeasures,
andincorporatemethodstoidentifyparticularE&Sissues,includingcorrectiveactions.The
implementationofthemonitoringguidelineswasdemonstratedthroughthird‐partyannual
E&Sreportsonthecapitalfundsmanagedbytheapplicant,whichcontainadescriptionofthe
applicant’sportfoliocompaniesandrecommendationsforE&Smanagementimprovementsfor
thesecompanies,aswellastheevidencethattheE&Smanagementhasimplemented
correspondingcorrectiveactions.
2.2.6
Section6.6:Externalcommunications
GCF/B.12/32
Page73
Theapplicanthasrecentlyestablishedagrievanceprocedureonmanagingand
respondingtocomplaintsreceivedrelatedtotheimplementationofprojectsorprogrammes
fundedorimplementedbytheapplicant.Complaintscanbereportedelectronicallyonthe
applicant’swebsite,viae‐mailorinwriting.Thedesignatedfocalpointwillacknowledgereceipt
ofthecomplaintandinformthecomplainantoftheprocessthatwillbefollowedinorderto
addresstheissue.Intheeventthatthefeedbackisfoundtobeunsatisfactory,thecomplainant
hastheoptionofescalatingthecomplainttothemanageroftheapplicant’sstakeholder
relationsdepartment.
21.
22.
Theapplicantisintheprocessofputtinginplaceaprovisiononitswebsitetoreceive
andregisterexternalcommunications,whichwillincludetheestablishmentofacomplaints
register,aswellasthenecessaryinfrastructuretobeginimplementingitsgrievanceprocedure.
2.3
Gender
23.
Theapplicanthasacomprehensivegenderpolicyinplacethatencouragesgender
sensitivityintheappraisalandfinancingofprojects.Theguidelinesprovideagender‐sensitive
approachforconductingagenderanalysis,basedonscientificmodelsofprojectsatthe
appraisalstage.Theapplicant’sapproachtowardsgendermainstreamingisfullyconsistent
withthegenderpolicyprinciplesoftheGCF.Thegenderpolicy,asalongwithcorresponding
guidelinesandtools,arecontinuouslyupdated.
Inaddition,theapplicantprovidestrainingonitsgenderpolicyandproject‐levelgender
analysestorelevantstaff,suchasprojectmanagers,environmentalanalystsandothers.The
applicantrequiresthattheindividualswhoareresponsibleforgender‐relatedactivitiesattend
thematicworkshopsandtrainingsessionsthatareorganizedbyotherorganizations.
24.
25.
Theapplicanttrackstheimplementationofgender‐sensitiveapproachesforparticular
projectsandprogrammes.Ithasreportedonthebenefitsthatwereobtainedbywomenin
projectsthatitimplementedbyprovidingsitevisitreportsforseveralprojectsrelatedto
electricitygeneration,agriculturaldevelopmentandwastemanagement.
III.
Conclusionsandrecommendation3.1 Conclusions
26.
Followingitsassessmentandnotingthattheapplicanthasappliedunderthefast‐track
accreditationprocess,theAPconcludesthefollowinginrelationtotheapplication:
(a)
TheapplicantmeetstherequirementsoftheGCFbasicfiduciarystandards,specialized
fiduciarystandardforprojectmanagement,specializedfiduciarystandardforgrant
awardand/orfundingallocationmechanisms,andthespecializedfiduciarystandardfor
on‐lendingand/orblendingforloans,equityandguarantees;
(b)
TheapplicantpartiallymeetstherequirementsoftheinterimESSoftheGCFinrelation
tohighE&Srisk,CategoryA/I‐1;and
(c)
Theapplicanthasdemonstratedthatithascompetencies,policiesandproceduresin
ordertoimplementitsgenderpolicy,whichisfoundtobeconsistentwiththegender
policyoftheGCF,andhasdemonstratedthatithasexperiencewithgender
considerationinthecontextofclimatechange.
3.2
Recommendationonaccreditation
GCF/B.12/32
Page74
TheAPrecommends,forconsiderationbytheBoard,applicantAPL024foraccreditation
asfollows:
27.
(a)
Accreditationtype:
(i)
Sizeofanindividualprojectoractivitywithinaprogramme:large
(includingmicro,4small5andmedium6);
(ii)
Fiduciaryfunctions:
(iii)
(b)
1.
Basicfiduciarystandards;
2.
Specializedfiduciarystandardforprojectmanagement;
3.
Specializedfiduciarystandardforgrantawardand/orfundingallocation
mechanisms;and
4.
Specializedfiduciarystandardforon‐lendingand/orblending(forloans,
equityandguarantees);and
Environmentalandsocialriskcategory:highrisk(CategoryA/I‐1(including
lowerrisk(CategoryB/I‐27andCategoryC/I‐38)).
Conditions:theapplicantwillberequiredtosubmittotheAP,throughtheSecretariat,
informationonhowithascompliedwiththecondition(s).TheAPwillthereafterassess
whetherthecondition(s)has/havebeenmet.Thisassessmentwillbecommunicatedby
theSecretariat,onbehalfoftheAP,totheBoardforinformationpurposes.
(i)
ConditionspriortothefirstdisbursementbytheGCFforanapproved
project/programmetobeundertakenbytheapplicant:
1.
Developanexternalcommunicationsmechanism,whichprovidesa
systemtoreceive,documentandrespondtoquestionsorcomplaints
fromthegeneralpublic.
Theapplicanthasbeeninformedoftherecommendationforaccreditation,includingthe
accreditationtypeandcondition(s),asidentifiedinparagraph27above,andagreestothe
recommendation.
28.
4AsperannexItodecisionB.08/02,“micro“isdefinedas“maximumtotalprojectedcostsatthetimeofapplication,
irrespectiveoftheportionthatisfundedbytheGCF,ofuptoandincludingUS$10millionforanindividualproject
oranactivitywithinaprogramme“.
5AsperannexItodecisionB.08/02,“small”isdefinedas“maximumtotalprojectedcostsatthetimeofapplication,
irrespectiveoftheportionthatisfundedbytheGCF,ofaboveUS$10millionanduptoandincludingUS$50million
foranindividualprojectoranactivitywithinaprogramme”.
6AsperannexItodecisionB.08/02,“medium”isdefinedas“maximumtotalprojectedcostsatthetimeof
application,irrespectiveoftheportionthatisfundedbytheGCF,ofaboveUS$50millionanduptoandincluding
US$250millionforanindividualprojectoranactivitywithinaprogramme”.
7AsperannexItodecisionB.07/02,categoryBisdefinedas“Activitieswithpotentialmildadverseenvironmental
and/orsocialrisksand/orimpactsthatarefewinnumber,generallysite‐specific,largelyreversible,andreadily
addressedthroughmitigationmeasures”andintermediation2isdefinedas“Whenanintermediary’sexistingor
proposedportfolioincludes,orisexpectedtoinclude,substantialfinancialexposuretoactivitieswithpotential
limitedadverseenvironmentalorsocialrisksand/orimpactsthatarefewinnumber,generally‐sitespecific,largely
reversible,andreadilyaddressedthroughmitigationmeasures;orincludesaverylimitednumberofactivitieswith
potentialsignificantadverseenvironmentaland/orsocialrisksand/orimpactsthatarediverse,irreversible,or
unprecedented”.
8AsperannexItodecisionB.07/02,categoryCisdefinedas“Activitieswithminimalornoadverseenvironmental
and/orsocialrisksand/orimpacts”andintermediation3isdefinedas“Whenanintermediary’sexistingor
proposedportfolioincludesfinancialexposuretoactivitiesthatpredominantlyhaveminimalornegligibleadverse
environmentaland/orsocialimpacts“.
GCF/B.12/32
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3.3
Remarks
TheAPnotesthattheapplicanthaswell‐developedinternalE&Strainingprogrammes
foritsemployees.Theapplicantisencouragedtosharesuchexperiencewiththefinancial
institutionsintheregioninthisregard.
29.
30.
Theapplicantisencouragedtoseekreadinessandpreparatorysupporttoassistitto:
(a)
Meettheconditionsidentifiedinparagraph27(b)above.