GREEN CLIMATE FUND FRAMEWORK GRANT AGREEMENT SECOND AMENDED AND RESTATED VERSION

The Second Amended and Restated Framework Grant Agreement defines the relationship between the Green Climate Fund (GCF) and the Global Green Growth Institute (GGGI) as a delivery partner. It outlines the processes for the approval and disbursement of grants for Readiness and Preparatory Support, the responsibilities of GGGI in managing these funds—including the use of implementing entities—and the compliance requirements regarding environmental, social, and gender policies. The agreement also specifies financial reporting, audit rights, and the legal mechanisms for dispute resolution through the Permanent Court of Arbitration.

• The agreement allows National Designated Authorities (NDAs) to nominate GGGI as a delivery partner to implement Readiness and Preparatory Support on their behalf.
• Grant disbursements are subject to the condition that at least 70% of previously disbursed funds have been committed or spent on eligible expenditures.
• GGGI is permitted to reallocate up to 20% of a grant's budget between categories without prior written approval from the GCF; reallocations exceeding this threshold require such approval.
• GGGI must conduct due diligence on any Implementing Entity it engages, specifically assessing their capacity and anti-money laundering and countering the financing of terrorism (AML/CFT) capabilities.
• The GCF maintains the right to conduct audits of specific projects if there are concerns that funds were not used according to the agreement, with costs borne by GGGI if the concerns are found to be substantially correct.
• GGGI is required to ensure that all project implementation complies with the GCF's Environmental and Social Safeguards, Environmental and Social Policy, Indigenous Peoples Policy, and Gender Policy.
• The agreement mandates that GGGI provide audited financial statements for the GCF's contribution to the Readiness and Preparatory Support programme within three months of the end of the GCF financial year.
• Any disputes that cannot be settled amicably within 60 days shall be resolved via arbitration under the Permanent Court of Arbitration (PCA) rules, with the seat of arbitration in Seoul, Republic of Korea.

APA

Green Climate Fund (2021). GREEN CLIMATE FUND FRAMEWORK GRANT AGREEMENT SECOND AMENDED AND RESTATED VERSION. https://www.greenclimate.fund/sites/default/files/document/20210512-fwa-gggi-2nd-amendment.pdf

Chicago

Green Climate Fund. GREEN CLIMATE FUND FRAMEWORK GRANT AGREEMENT SECOND AMENDED AND RESTATED VERSION. 2021. https://www.greenclimate.fund/sites/default/files/document/20210512-fwa-gggi-2nd-amendment.pdf.

Wikipedia

{{cite report |author=Green Climate Fund |title=GREEN CLIMATE FUND FRAMEWORK GRANT AGREEMENT SECOND AMENDED AND RESTATED VERSION |date=2021 |url=https://www.greenclimate.fund/sites/default/files/document/20210512-fwa-gggi-2nd-amendment.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greenclimatefund2021green, author = {{Green Climate Fund}}, title = {{GREEN CLIMATE FUND FRAMEWORK GRANT AGREEMENT SECOND AMENDED AND RESTATED VERSION}}, institution = {Green Climate Fund}, year = {2021}, url = {https://www.greenclimate.fund/sites/default/files/document/20210512-fwa-gggi-2nd-amendment.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }