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.
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:
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.
The funding proposal contents include:
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)
Accredited Entity (AE)
AEs carry out a range of activities that may include:
Two Types of Accredited Entities