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