This evaluation assesses the Readiness Programme since it became operational in May 2014 through to July 2025. The objective of the evaluation is to generate credible, evidence-based insights into how the Readiness Programme has contributed to the Fund’s mission of accelerating locally led adaptation and direct access, and how it can be enhanced considering future demand and evolving institutional needs. Lessons and recommendations aim to inform the development of the enhanced Readiness Programme strategy currently being prepared by the Adaptation Fund Board secretariat.