1. Engaging with the Green Climate Fund
Tony Clamp, Deputy Director, Private Sector Facility
Urvaksh D. Patel, Specialist, International Financial Institutions
March 2018 | Tokyo, Japan

2. The Green Climate Fund
Country Driven Approach
Climate Impact Focus
Paradigm Shift Potential
Comprehensive Spectrum of Offerings to Countries
Dedicated Private Sector Facility
A mandate to promote low-emission and climate resilient development in developing countries 2

3. Approximately $3.7B for 76 projects in over 60 Countries
A Growing Portfolio
Kenya
Peru
Senegal
Malawi
Mexico
Maldives
Bangladesh
Tuvalu
Fiji
Gambia
Armenia
El Salvador
Tajikistan
Sri Lanka
Mali
Viet Nam
Chile
Eastern Caribbean
Samoa
Vanuatu
Cook Islands
Mauritius
South Africa
Argentina
Mongolia
Uganda
Status as of B19 (Feb 2018)
Madagascar
Namibia
Morocco
Ecuador
Pakistan
Rwanda
Egypt
Georgia
Jordan
Moldova
Serbia
Tunisia
Uzbekistan
Benin
Nigeria
Tanzania
PNG
Solomon
Islands
India
Kazakhstan
Bhutan
Colombia
Ethiopia
Nauru
Approximately $3.7B for 76 projects in over 60 Countries 3

4. 59 entities accredited to date
A Diverse Network of Partners
Rwanda
Morocco
Ethiopia
Kenya
Argentina
59 entities accredited to date
Senegal
Namibia
India
Peru
South Africa
Mongolia
China
Korea
Indonesia
Bangladesh
Antigua & Barbuda
Fiji 4

5. GCF Approach – Accredited Entities
Financial Instruments
Grants
Loans
Guarantees
Equity 5

6. GCF Approach – Other Partnerships
Other modalities for involvement include:
Executing Entity
Any entity through which GCF funds are used for the purposes of implementing a project.
Delivery Partner
Institutions selected by the NDA to implement activities approved under the Readiness Program.
Service Provider
Any entity which the GCF directly contracts to carry-out specific work based on a solicitation of a particular request. 6
Common
Common
Less Common

7. How Does GCF Invest?
GCF provides grants, debt, equity and guarantees to:
De-risk investments and mobilize public and private sector funding
Bundle small projects into investible portfolios
Help develop public-private partnerships for infrastructure resilient projects
Encourage innovation
Support capacity building 7

8. Funding Proposals High impact potential Sustainability strategy
Provisions for co-financing
Link to national strategy or plan
O&M costs covered
Scale-up potential
Right level of concessionality and financial instruments
Low cost emission reductions
Milestone-based disbursements
Built on scientific evidence and lessons learned from previous projects

9. Japan and the GCF Contributor: USD 1.5bn pledged (#2)
Board seats: Board and alternate Board member since inception (MOFA and MOF)
AEs: Two entities accredited: BTMU and JICA
Climate technology: leadership in automobiles and geothermal – largest supplier of turbines
GCF Executive Director Howard Bamsey travelled
to Japan in his first official overseas visit 9

10. GCF Private Sector Facility (PSF)
Role
To fund and mobilize institutional investors with GCF funds to encourage the private sector to invest
Approach
Catalyze private sector funding
A special focus on LDCs, SIDS and African states
Long term funding through financial instruments and structure-in concessionality
Access to the Private Sector
Say a word about the private sector facility
Why was it created?
Recognition that addressing the climate change challenge at scale will require mainstreaming climate action into the day-to-day business of the private sector
Variety of ways to do it
Develop the tools to help them integrate climate risk into their business models
Provide debt of varying forms to incentivize private sector actors – long-term, liquidity, or refinancing
Equity to take early stage risks, and guarantees to cover specific risks
How can private sector access?
Integrated into the Fund using the same operational modalities
Bring forward proposals through any of the accredited entities with the ability to undertake private sector operations
Accredited Entities with private sector capacity
Present funding proposals or responsd to calls for proposals 10

11. PSF Business Model
Country Ownership
Accredited Entity 11
Project

12. Portfolio Composition as of B19
Private Sector
Committed amount of GCF funding (17 approved projects)
$4.66 billion
$1.51 billion 12
Loan
61%
Equity
30%
Guarantee 2%
USD 1.51B

13. Private Sector Projects as of B19
Name
Country AE
GCF Amount
Total Amount
B11
KawiSafi Ventures Fund in Eastern Africa
Kenya, Rwanda
Acumen
$25 M
$110 M
Energy Efficiency Green Bond in LAC
Mexico
IDB
$22 M
$780 M
B13
Climate Action and Solar Energy Development
Chile
CAF
$49 M
$265 M
B14
Sustainable Energy Financing Facilities (SEFF)
Africa/ Asia / EE (10)
EBRD
$378 M
$1,419 M
Sustainable Landscapes in Eastern Madagascar
Madagascar
CI/EIB
$54 M
$70 M
Universal Green Energy Access Programme (UGEAP)
Africa (5 countries) DB
$80 M
$300 M
B15
Business loan programme for GHG emission reduction
Mongolia
XacBank
$20 M
$60 M
SCF Capital Solutions
South Africa
DBSA
$12 M
$34 M
Catalyzing Private Investment in Sustainable Energy in Arg.
Argentina
$133 M
$653 M
B16
Geeref NeXt
Global (29 countries)
EIB
$765 M
Egypt Renewable Energy Financing Framework
Egypt
$154 M
$1,007 M
B18
Renewable Energy Program – Solar #1
$9 M
$18 M
GCF-EBRD Kazakhstan ReFramework
Kazakhstan
$557 M
Low Emissions and Climate Resilient Agriculture Risk Sharing
Mexico, Guatemala
$158 M
B19
Acumen Resilient Agriculture Fund (ARAF)
Ghana, Nigeria, Uganda
$26 M
$56 M
Zambia Renewable Energy Financing Framework
Zambia
AfDB
$52.5 M
Line of Credit for Solar rooftop segment
India
NABARD
$100 M
$250 M
$1.5 B
$6.7 B
Total 13

14. Request for Proposals Mobilizing Funds at Scale Published on Closed on
25 May 2017.
Closed on
30 August 2017
Short-list Announced
December 2017
Top 30 Short-listed
GCF INVESTMENT:
Up to USD 500M in projects/programmes
COUNTRIES RECEIVED:
70+ Developing countries
NUMBER OF CONCEPT NOTES RECEIVED:
350 CNs
EST. PROJECT COST:
USD 43 billion
EST GCF REQUESTED FINANCING:
USD 18 Billion

15. Private Sector Projects
Egypt Renewable Energy Financing Framework
Country
GCF financing
Accredited entity
Financial instrument
Egypt
USD million
EBRD
Loan and Grant
USD 150M in loan and USD 4.7M in grant:
Encourage private sector investment in an environment where currently there is negligible renewable capacity installed
To remove the bottlenecks to the lack of financing for the development of private sector renewable energy projects
Emissions reduction of million tCO2e 15

16. Private Sector Projects
Renewable Energy Program – Solar #1
Country
GCF financing
Accredited entity
Financial instrument
Mongolia
USD 8.65 million
XacBank
Loan
USD 8.65M in loan
To unlock renewable energy investments in Mongolia and mobilize private sector capital
To help Mongolia to achieve its nationally determined contribution (NDC) targets
The project is expected to be a precursor to the Asia Super Grid initiative
Emissions reduction of million tCO2e 16

17. Multiple Countries - Global
Private Sector Projects GEEREF NeXt
Countries
GCF financing
Accredited entity
Financial instrument
Multiple Countries - Global
USD 265 million
EIB
Equity and Grant
USD 250M in equity and USD 15M in grant: fund of funds with the aim of being the first investor in RE/EE investment funds
Significant climate impact due to the elevated multiplier effect
Channeling institutional investors into renewable energy and energy efficiency investments in developing countries
Emissions reduction of 769 million tCO2e 17

18. Japanese Board Member: Mr. Tsukada (MOFA)
The Green Climate Fund
Japanese Board Member: Mr. Tsukada (MOFA)
Board members and their constituencies:
Paul Oquist, Co-chair (LAC)
Lennart Båge, Co-chair (developed countries, Sweden)
Karma Tshering (LDCs)
Tamaki Tsukada (developing countries, MOFA, Japan)
Omar El-Arini (Africa)
Ayman M. Shasly (APAC)
Ali’ioaiga Feturi Elisaia (SIDS)
Hans Olav Ibrekk (developed countries, Norway)
Satu Santala (developed countries, Switzerland)
Judith Gelbman (developed countries, Canada)
Josceline Wheatley (developed countries, UK)
Geoffrey Okamoto (developed countries, USA)
Tosi Mpanu Mpanu (Africa)
Teimuraz Murgulia (Georgia)
Cyril Rousseau (developed countries, France)
Karsten Sach (developed countries, Germany)
M. M. Kutty (APAC)
Zaheer Fakir (developing countries, South Africa)
Esther González Sanz (developed countries, Spain)
Ewen McDonald (developed countries, Australia)
Roelof Buffinga (developed countries, Denmark)
Yang Weifeng (APAC) 18

19. Contacts Tony Clamp Urvaksh D. Patel Juichiro Sahara Deputy Director
Private Sector Facility
Urvaksh D. Patel
Specialist – International Financial Institutions
Division of Country Programming
Juichiro Sahara
Resource Mobilization Senior Specialist
Division of Support Services

20. Annex

21. Portfolio Composition 76 projects/programmes with USD 3
Portfolio Composition 76 projects/programmes with USD 3.7 billion in GCF funding
Requested and committed amount of GCF funding
Status as of B19 (Feb 2018) 21

22. GCF Projects Under Implementation
Total Disbursed: USD 147.2M
Projects under-implementation
Co-financing
$1,275 million
GCF funding
$596 million
GCF + Co-financing =
Total USD 1,871 million
Projects composition
Public sector (15)
Private sector (3) 22

23. Six Investment Criteria Against which proposals are assessed
Impact potential
Paradigm shift potential
Sustainable development potential
Country ownership
Efficiency & effectiveness
Responsive to needs of recipients
Potential to contribute to achievement of Fund's objectives and result areas
Long-term impact beyond a one-off investment
Wider economic, environmental, social (gender) co-benefits
Country ownership and capacity to implement (policies, climate strategies and institutions)
Economic and, if appropriate, financial soundness, as well as cost-effectiveness and co-financing for mitigation
Vulnerability and financing needs of beneficiary in targeted group 23

24. Project implementation
Country Programming –
an Iterative Process
Country programme
Entity programme
Pipeline development
Funding proposals
Project implementation
Results & learning

25. Fit-for-Purpose Accreditation
Fiduciary functions
Mandate & track record
Basic
Specialized
Alignment with Fund objectives
At least 3 year of operations
Project size
Environment & social risk category
Micro ( <10M)
Small (10-50M)
Medium (50-250M)
Large ( >250M)
A (high)
B (medium)
C (minimal or no)

26. Applying for Accreditation
The accreditation application will include the following sections:
Background and contact information of the applicant entity
Information on the ways in which the institution and its intended projects/programmes will contribute to furthering the country’s climate strategies and action plans, in line with GCF’s objectives
Information on the scope of intended projects/programmes and estimated contribution requested for an individual project or activity within a programme
Basic fiduciary criteria
Applicable specialized fiduciary criteria
Environmental and social safeguards (ESS)
Gender
What you need to apply*
Nomination by your NDA(s) or focal point(s) (for subnational, national and regional entities applying under direct access)
Intended projects/programmes (for information purposes)
Evidence of how your organization can meet the GCF’s fiduciary standards, ESS and gender policy
Track record, which should include climate change-related projects/programmes and the fiduciary, environmental and social practices applied
* This list is not exhaustive.

27. Accreditation Process Steps
1.) Pre-accreditation
2.) Accreditation 1A 1B 2A 2B
NDA/FP nomination* received
OAS account issued
Application received and accreditation fees paid
Stage II (Step 2)
Board decision
Stage III
Legal arrangements
Stage I
Completeness check
Stage II (Step 1)
AP Review
OAS request received 2E 2D 2C
AMA negotiation
AMA execution
AMA effectiveness
AMA: Accreditation Master Agreement
AP: Accreditation Panel
NDA: National Designated Authority
OAS: Online Accreditation System
*An NDA nomination letter is required for Direct Access entities only.
Nomination is not required for International Access entities.

28. Technical Advisory Panel
Project Approval Process
Legal arrangements
Accredited Entity
Secretariat
GCF Board
Concept note (optional)
Generation of Project idea
Submission of funding proposal
No-objection
Analysis and recommendation
Board Decision
NDA
Technical Advisory Panel
Trustee 1 6 2 3
Possible request for Readiness support by NDA
Possible support from Project Preparation Facility to AE 4 5