Having considered the comments and recommendations of the Ethics and Finance Committee, the Adaptation Fund Board decided to approve:

(a) US$3,323,470 to cover the costs of the operations of the Board and secretariat over the period 1 July, 2012 to 30 June, 2013 reflecting the revisions of table 3 of the document AFB/EFC.9/7 as presented in Annex V of the current report;and

(b) US$1,044,000 for trustee services to be provided to the Adaptation Fund over the period 1 July, 2012 to 30 June, 2013, comprising US$520,000 for CER Monetization services, US$374,000 for all other trustee services, and a one-time amount of US$150,000 to cover a new integrated trustee-secretariat information.