1. PCF Project Preparation Cycle

2. 5 PCF Project Preparation Stages 13 1. Activity: Preparation of PCF PIN ( 1. Activity: Preparation of PCF PIN (7 weeks indicative) 2. Activity : Preparation of PCF PCN ( ) 2. Activity : Preparation of PCF PCN ( 14 to 18 weeks indicative ) Output : PCF PCN (PCF Annex to PCD) Output : PCF PIN Output : PCF PCN 3. Activity : Preparation of PCF Annex to PAD (16 weeks indicative) Output : PCF Annex to PAD Output : Project Approval 4. Activity: Negotiation of Carbon Purchase Agreement ( 4. Activity: Negotiation of Carbon Purchase Agreement (11 to 15 weeks indicative) Fourteen Months

3. PCF Project Preparation Stages 13 Early Host Country Notification Review of PCF PIN by Fund Mgmt Unit (FMU) Output : PCF PIN Activity 1: Preparation of PCF PIN PIN - 7 weeks

4. PCF Project Preparation Stages 13 Host Country Endorsement Review of PCF PCN by Fund Mgmt Committee (FMC) Review of PCF PCN by Participants Committee Output : PCF PCN (PCF Annex to PCD) Activity 2: Preparation of PCF PCN PCN - 14 to 18 weeks

5. PCF Project Preparation Stages 13 Preparation of Monitoring and Verification Protocol Baseline Study as part of Feasibility Study Activity 3: Preparation of PCF Annex to PAD Output : PCF Annex to PAD PCF Annex to PAD - 16 weeks

6. PCF Project Preparation Stages 13 Output : Project Approval Validation process and opinion Output : Carbon Purchase Agreement Negotiation of Carbon Purchase Agreement Activity 4: Negotiation of Carbon Purchase Agreement Negotiation and Approval - 11 to 15 weeks

7. PCF Project Cycle Timeline PCF activities shown integrated with Bank project cycle, time requirements are indicative and compressible except where indicated Blue lines -Blue lines - PCF preparation activities, time requirements indicative Red lines - PCF activities with non-compressible time requirements Orange lines - concurrent Bank project preparation activities, time requirements indicative Dotted lines - ongoing activities

8. PIN Stage - Typical Time Requirement: 7 Weeks Month OneMonth Two Step 1: Receipt of Project Idea

9. PIN Stage - Typical Time Requirement: 7 Weeks Month OneMonth Two Step 7: Project organization workshop ( 1 week indicative) Step 6: GEF Review of PIN (2 weeks required) Step 4: Review of PIN by FMU (2 weeks indicative) Step 3: Development of PIN (2 weeks indicative) Step 5: Early notification of Host Govt Step 2: Project screening (1 week indicative)

10. PCN Stage - Typical Time Requirement: 14-18 Weeks Month ThreeMonth Four Step 8: Preparation of PCN (8-12 weeks indicative) Step 10: Host Government endorsement (required before FMC review) Step 9: Independent Risk Assessment (4 weeks indicative)

11. PCN Stage - Typical Time Requirement: 14-18 Weeks Month FiveMonth Six Step 11: FMC review of PCN (2 weeks required) Step 12: Review of PCN by Participants Committee (4 weeks required) Step 13: Review of PCF Annex to PCD by CMU (2 weeks indicative)

12. PAD Preparation Stage - Typical Time Requirement: 16 Weeks Month SevenMonth Eight Step14 -1: Preparation of PCF Annex to PAD (16 weeks indicative) a) Formal Baseline Study b) MVP Step 15: Preparation of Pre- Negotiations Workshop/Consultation

13. PAD Preparation Stage - Typical Time Requirement: 16 Weeks Month NineMonth Ten Step 15 (continued): Preparation of Pre-Negotiations Workshop/Consultation Step14 -1 (continued): Preparation of PCF Annex to PAD a) Formal Baseline Study b) MVP Step 15: Pre-Negotiations Workshop/Consultation (required before Appraisal) Step 14 - 2: (3-4 weeks indicative) c) Reassessment of Project Risk d) Formal Validation

14. Negotiation and Approval Stage - Typical Time Requirement: 8 weeks Month ElevenMonth Twelve Step 17: Review of PAD by CMU (3 weeks indicative) Step 18: Appraisal Mission to Host Country (2 weeks indicative) Step 67: Review of PCF Annex to PAD by FMU (3 weeks indicative) Step 19: Negotiations for underlying project (4 weeks indicative) Step 20: Negotiation of final PCF Component (3 weeks indicative)

15. Negotiation and Approval Stage - Typical Time Requirement: 8 weeks Month ThirteenMonth Fourteen Step 20 (Continued): Negotiation of final PCF Component (3 weeks indicative) Step 21: FMC clearance and RVP approval for disbursement of PCF funds (2 weeks required) Step 22: World Bank Board review of underlying project (3 weeks indicative) Step 23: Post Negotiation Workshop (3 days plus organizing time) Step 19 (Continued): Negotiations for underlying project (4 weeks indicative)