Remediations to Address Monitoring and Evaluation Gaps in the GCF Portfolio

The GCF Secretariat contracted AAE to provide support for remediation activities to fill gaps in the projects/programmes where the Secretariat assesses risk ratings as moderate, elevated or high. As part of the Board-approved approach, remedial actions will be implemented in two phases: (I) Phase 1, where the Secretariat, with support from AAE, will analyse and agree with the Accredited Entities (AEs) on concrete corrective actions and develop the budget for Phase 2 (II), where the actual corrective actions will be implemented by the AEs, with possible support from AAE. As a result of this consultancy, it is expected that project-specific performance reporting will be improved and risk tolerance thresholds for projects will be adjusted, thereby reducing the overall risk level of the entire GCF portfolio.

Main tasks:

• Review the GCF’s Secretariat assessment of the existing gaps in the portfolio of the first 100 approved funded activities;
• Conduct negotiation calls with the Accredited Entities (AEs) to propose mitigation measures per project;
  Develop an Action Plan for the agreed remedial actions with the AEs, to be presented to the Fund’s Board for approval;
• Budgeting of the proposed and agreed remedial actions per project and AE.

Main outputs:

• Detailed work plan to confirm expectations regarding the work and consultation with AEs;
• Consolidated reports containing the needed remediation measures per project;
• Inception report;
• Negotiation report with the details of the consultancy (AEs, discussions had and concerns raised during the meetings, and analysis potential impact of the consultancy on the GCF’s portfolio);
• Action Plan and Budget for the agreed remedial actions.