Document Summary


Decision B.16/21

Having considered the recommendation of the Ethics and Finance Committee, the Adaptation Fund Board decided to:
(a) Approve:
(i) The reporting process contained in the document AFB/EFC.7/4/Rev.2 (attached as Annex IV to the meeting report) including the request to Implementing Entities to submit inception workshop reports;
(ii) The Project Performance Report (PPR) Template as contained in Annex 3 of document AFB/EFC.7/4/Rev.2;
(iii) The Adaptation Fund Level Effectiveness and Efficiency Results Framework as contained in the document, requesting the Trustee to identify additional appropriate financial indicators to measure, in particular, the performance of the CER monetization process vis-à-vis relevant market benchmarks; and the secretariat to explore adequate performance indicators related to AFB performance in attracting additional donor contributions for inclusion in future reports; 
(iv) The proposed disbursement procedures outlined in paragraph 10, including linking the submission of a project’s annual report to the disbursement schedule. The secretariat’s review of the PPR and recommendation will be circulated intersessionally to the Board for two weeks on a “non-objection” basis. If any Board member objects to the recommendation, then the PPR will be discussed at the next Board meeting. If there are no objections, the Chair of the Board will direct the Trustee to transfer the next tranche of funds; and
(v) The disbursement template contained in Annex 4 of document AFB/EFC.7/4/Rev.2; requesting the secretariat to include the template as part of the project agreements.
(b) Request:
(i) The secretariat to develop a review process of the PPRs and establish a set of criteria for clearing PPRs. The procedures and criteria should be presented to the EFC at the 17th meeting of the Adaptation Fund Board.



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