1. Ousseynou Nakoulima, Chantal Naidoo & Louise Brown 7 October 2014
Update and opportunities for National Development Banks
Ousseynou Nakoulima, Chantal Naidoo & Louise Brown
7 October 2014

2. Origins of the Fund & purpose
Established by UN Climate Change Framework Convention (2011)
Global Purpose
make significant & ambitious contribution to combating climate change
promote paradigm shift towards low carbon climate resilient development pathways
Offering
provide support to developing countries, taking into account especially needs of countries particularly vulnerable

3. Governance & Management
Legal persona with immunities and privileges as required
Board from developed/developing countries with 4 observers (2 each from civil society and private sector)
Secretariat: Executive Director and 3 Directors and full-time staff
Trustee: World Bank manages financial assets
Host country: Korea HQ in Songdo

4. Key features of the Fund

5. Current Progress & Status: 2014
Investment Framework: Includes paradigm shift and sustainable development,
Allocation Framework: 50/50 Mitigation and Adaptation (with 50% being LDCs, SIDS and Africa)

6. Country Interface with the Fund: National Designated Authority
Can develop strategic country work program on a periodic basis to identify priorities for the Fund and preferred implementing entities
Endorses implementing entities through which the country will access the Fund
Participates in the development of proposals for funding by the Fund
Participates in pre-screening of project concepts alongside the secretariat - concept submission is optional
Can “object” to proposals that do not align with national priorities and needs
Is informed of the outcome of board decisions
Should keep abreast of program implementation and progress

7. Opportunity for National Development Banks: National Implementing Entities
This enables a country to access through its national institutions financial support directly from the Fund
Indicative roles and responsibilities
Origination and preparation of a funding proposal
Management and oversight of the implementation process
Monitoring and reporting on progress
Work directly/through other intermediaries to channel financial instruments to beneficiaries
Blending Fund, own and other resources to maximise impact
Accreditation required - compliance with standards and safeguards

8. Accreditation: Current status
Guiding framework on accreditation (7th Board meeting approved)
Provides for national and international implementing entities (direct/indirect access) –
For direct access - NDA and NIE partnership and support critical
Three stage assessment process through an Accreditation Panel
Key information to be assessed throughout accreditation process
Programme/project capabilities (e.g. size & types of risks managed)
Fiduciary standards
Environmental and social safeguards
Intended use of Fund resources
Existing accreditations with the GEF and/or Adaptation Fund may facilitate a faster accreditation process

9. Readiness & Preparatory Support
Purpose: Enabling countries to prepare to directly access the Fund and available on request – areas defined through interactive engagement

10. Immediate opportunities for NDBs
Early and continuous engagement with national NDA as potential National Implementing Entities – secure partnership
Determine the current profile of climate projects being funded - financial value and types of risk being assumed e.g. large/small scale
Consider intention and potential use of the Fund resources e.g. programme development, product innovation, intermediary
Assess capabilities of institution against Fund requirements & define areas of support needed
Governance: environmental & social safeguards (IFC) and fiduciary standards (refer Board decisions
Pipelines: Investment & Allocation frameworks

11. Key contact details
Readiness & Preparatory Support Yun Yang Accreditation enquiries Stephanie Kwan