adaptation-fund: Adaptation Fund Board Adopts Five-Year Strategy Emphasizing Concrete Action, Innovation and Learning

Board Also Approves US$ 23.8 Million for New Projects and Programmes

Bonn, Germany (October 13, 2017) — The 30th Adaptation Fund Board meeting produced several significant decisions, including approving a new five-year medium-term strategy that emphasizes the Fund’s pillars of Action, Innovation and Learning.

The Board also approved a decision to explore concrete steps to enhance complementarity with the Green Climate Fund (GCF), including possible fund-to-fund arrangements and accreditation. The Adaptation Fund will attend an annual dialogue next month initiated by the GCF to help further the discussion.

The Board further approved US$ 23.8 million in funding for new projects and programmes, and accredited the Fund’s 26th national implementing entity (NIE) under its pioneering Direct Access modality for climate finance.

In addition, the Board elected a new Chair — current Vice Chair Victor Viñas, a Dominican Republic national who represents Latin America and the Caribbean on the Board. Viñas will assume the Chair seat at the next Board meeting March 20-23, 2018 after current Chair Michael Kracht, of Germany, completes his one-year term.

“We achieved great results,” said Kracht. “Approval of the Fund’s medium-term strategy and agreeing to explore concrete ways to advance cooperation with the GCF are major steps. The five-year strategy affirms and strengthens what the Fund is already excelling at in delivering localized, effective adaptation actions on the ground and pioneering and sharing new adaptation innovations. The Board also reviewed a record 33 project proposals, and approved four concrete projects while endorsing another 12 concepts and pre-concepts. Demand is growing, as we can see in a rising number of proposals to help the most vulnerable communities adapt to climate change.”

The Fund’s comprehensive activities to highlight the 10th anniversary this year of the launch of its operations, which include a special publication and event in Bonn on November 16, and its planned goals and programmes scheduled for COP 23 in Bonn November 6-17 were also detailed.

“This meeting produced a large number of significant and positive results that solidified strategies to advance and support the Board’s vision and growth going forward, as well as help vulnerable countries adapt to climate change in concrete ways,” said Mikko Ollikainen, Manager of the Adaptation Fund Board Secretariat. “The results also give the Fund added momentum as we head into COP 23 and continue to commemorate the 10th anniversary of the launching of the Fund’s operations.”

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