Access to GCF

The GCF will finance projects and programmes in the public and private sectors that contribute towards achieving at least one of the eight impact areas of the Fund. An Accredited Entity may submit a funding proposal to the GCF at any time. It will then be subject to the Fund’s approval process. In addition, the GCF may publish specific calls for proposals through its website and to which Accredited Entity may also respond by submitting funding proposals.

Concept Notes

The concept note presents a summary of a proposed project or programme, in consultation with the NDA or focal point, to the GCF. It provides the Accredited Entity with the opportunity to seek feedback from the GCF Secretariat on whether the concept is aligned with the Fund’s objectives, policies, and investment criteria. The feedback will provide information to further develop and strengthen the project/programme idea to enable the Accredited Entity to initiate the next phase, the preparation and submission of the full funding proposal.

Prior to the submission of the concept note, the Accredited Entity shall:

  • 1. Inform the NDA or the focal point about the proposed activity to be implemented in their country and commence consultations with a view to confirm it is in accordance with the country’s strategic framework
    and priorities; and
  • 2. Inform the Secretariat that it has commenced consultations with the NDA or the focal point.

The concept note is also not mandatory but strongly encouraged to promote early feedback from the GCF Secretariat and to allow for a faster review process.

The concept note includes four sections:

Section A

Project / Programme Summary

provides essential information about the proposed project or
programme.

Section B

Project / Programme Information

collects information to assess the economic and technical viability of the proposed project/programme. The information will be helpful for the review and assessment of the concept.

Section C

Indicative Financing /
Cost Information

provides an overview of the financing/cost information for both the requested GCF amount and co-financing amount.

Section D

Supporting Documents

includes the documents which can be submitted with the concept note but are optional.

Project and Programme Proposals

Accredited Entities develop funding proposals, in close consultation with NDAs or focal points, based on the diverse climate finance needs of individual developing countries. Accredited Entities can also respond to Requests for Proposals issued by GCF to fill current gaps in climate financing.

For both concept note and funding proposals, the feedback provided by the GCF Secretariat does not represent acceptance or commitment to provide financial resources to support the project/ programme. Funding decisions can only be made by the GCF’s Board, taking into account various factors, including technical, financial, environmental, social, gender and legal aspects. The GCF Secretariat only submits to the Board for its consideration those funding proposals whose approval has been recommended by both the independent Technical Advisory Panel (iTAP) and the Secretariat.

Download proposal template

The funding proposal contents include:

Section A

Project / Programme Summary

provides essential information about the proposed project / programme.

Section E

Expected Performance against Investment Criteria

describes the expected performance of the proposed project / programme against each of the Fund’s six investment criteria.

Section I

Annexes

includes the supporting documents for funding proposal.

Section B

Financing / Cost Information

provides the financing/cost information for both the requested GCF amount and co-financing
amount.

Section F

Appraisal Summary

summarizes information about the economic and financial analysis and justification, technical evaluation, environmental and social impact assessment, and financial management and procurement.

Section C

Detailed Project /
Programme Description

provides detailed information about the project / programme and its implementation.

Section G

Risk Assessment and Management

describes main risk factors and risk mitigation measures.

Section D

Rationale for GCF Involvement

explains why the GCF involvement is critical for the project / programme and how the project sustainability will be ensured in the long run.

Section H

Results Monitoring and Reporting

specifies logic framework in accordance with the GCF’s Performance Measurement Framework under the Results Management Framework, and describes arrangements for monitoring, reporting and evaluation.

No-Objection Procedure

GCF Approval Process

Project and programme funding proposals submitted to the GCF will be assessed by GCF Headquarter and the Technical Advisory Panel in accordance to the Fund’s strategic impact areas and evaluated against the GCF’s investment criteria (IPSCEN).

The proposals for projects and programmes will be recommended to the Board and approved by the Board before they can be implemented. The stages in the GCF approval process are demonstrated in the diagram.

GCF approval process

GCF’s investment criteria (IPSCEN)

IPSCEN COMPLIANCE

Accredited Entity (AE)

AEs carry out a range of activities that may include:

01

developing and submitting funding proposals

02

overseeing the management and implementation of projects/programmes

03

deploying a range of financial instruments within their respective capacitiess

04

mobilizing private sector capital

Two Types of Accredited Entities