Bonn, September 16, 2009 –  The Adaptation Fund Board took the vital steps towards operationalisation of the Fund and the Direct Access Modality at its 7th meeting that ended today in Bonn, Germany.

The Adaptation Fund Board adopted the innovative Operational Policies and Guidelines; approved creating a standing Accreditation Panel for accrediting the proposed National Implementing Entities (NIE) and Multilateral Implementing Entities (MIE); agreed to issue a call for experts to serve on the Panel; and invited the Kyoto Protocol parties to submit nomination for National Implementing Entities (NIEs) for accreditation and to access funds resources directly.

The Adaptation Fund Board established under the Kyoto Protocol of the UN Climate Change Convention was assigned by the Conference of Parties to the Kyoto Protocol to develop modalities for countries to access financial resources from the Fund directly without having to involve Multilateral Implementing Entities (MIE).

Together these landmark decisions establish a new modality and global institutional arrangement to provide finances for adaptation projects and programmes to the eligible parties. Keeping in view that certain countries might need to enhance their institutional capacity to meet the requirements for accessing resources by the National Implementing Entities (NIE), the Board also decided to include an option for countries to use existing international development agencies to access the fund resources for implementation of adaptation projects in the developing countries.

During the three-day meeting, the Board invited Mr. Andrew M. Wee of the Philippines, winner of the logo competition, for a brief ceremony. In addition, the Board also invited the students from the Marienschule, who donated the first voluntary contribution to the Fund.