Enhancing India’s Readiness to Climate Finance

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Enhancing India’s readiness to access and deliver international climate finance Steps/Actions Responsible Actor Performance Standards 4. MDB submits pre-appraisal project document to TFC for no-objection approval of trust fund financing. MDB & TFC Virtual review as necessary. Upon TFC approval, Trustee commits funding to MDB Trustee 5. MDB conducts appraisal, negotiates legal agreement with borrower, and submits project for approval by its Board. Resubmission to TFC if there are substantial changes in project objectives, design and/or financing. MDB Appraisal within 3 months of TFC no-objection approval. Target: Investment Plan review by TFC to Board submission in 12 months. 6. Signing and Effectiveness of Legal Agreement MDB & borrower Applicable MDB procedures and standards III. Implementation & Supervision 7. Project implementation, including monitoring of physical and financial progress in achieving results. Borrower or executing agency As provided for in the legal agreement and project operational manual. Disbursement of funds following processing of withdrawal applications. MDB Applicable MDB policies and procedures. 8. Supervision and amendments of project activities under implementation, including reallocation of loan proceeds. MDB Applicable MDB policies and procedures. IV. Evaluation & Completion Reporting 9. Evaluation Borrower or executing agency 10. Implementation Completion Report (ICR) Upon submission of ICR to Board, MDB submits final ICR to CIF Administrative MDB As provided for in legal agreement and project operational manual. Applicable MDB policies and procedures. Unit Within [10] working days of Board submission. 11. Independent review of ICR MDB Evaluation Department Applicable MDB policies and procedures 12. Annual Portfolio Review submitted to CIF Administrative Unit. MDB Reporting from Results Measurement System Administrative Unit convenes annual portfolio review meeting, prepares overview report on Fund operations, and forwards MDBs’ annual portfolio reviews to TFC. Administrative Unit Review and adoption of CTF Annual Report on Fund operations. TFC Decision at regular meetings of TFC. Ref: Ricardo-AEA/R/ED59216/Final Report 69
Enhancing India’s readiness to access and deliver international climate finance Annex VI – Adaptation Fund Profile Fund Overview The Adaptation Fund is an international mechanism of the Kyoto Protocol that became operational in 2009. The AF uses grant funding to finance the full costs of concrete adaptation programmes in developing countries. It is funded through a 2% levy on transactions under the Clean Development Mechanism (CDM), although in reality it has relied heavily on grant contributions from Annex 1 countries as well. To date, the Adaptation Fund has approved $211.57 million and disbursed $69 million in 31 countries. The AF’s activities have targeted interventions in the water, land-use, agriculture, health, infrastructure, and ecosystems services focal areas. Funds have also been used to develop early warning systems and support capacity building for disaster-risk reduction. In 2013 the AF was replenished with $100 million, mostly from European countries. GOVERNANCE STRUCTURE Adaptation Accreditation Secretariat Trustee Fund Board Panel (GEF) (WB) 2 representatives from each of the five United Nations regional groups 1 representative from Small Island Developing States 1 representative from Least Developed Country Parties 2 representatives from Annex I Parties 2 representatives from non-Annex I Parties Observers Institutional mechanism to access the Adaptation Fund One of the Adaptation Fund’s most unique design features is that it allows for ‘direct access’ of funds by national implementing entities from developing countries. Direct access gives greater country ownership over climate change programme, and ensures for decentralised decision-making nearer to the level where climate change impacts occur. Fifty percent of Adaptation Funding has been ear-marked for NIEs, although only sixteen have been accredited to date, and only 5 have received funding. The remaining 50% of Adaptation Fund finance is available for projects managed by Regional Implementing Entities, and Multilateral Implementing Entities. India’s experience accessing the Adaptation Fund The National Bank for Agriculture and Rural Development is India’s NIE for the Adaptation Fund. It is responsible for overall project management; financial management; M&E; and for performing a supervisory role for government departments, research institutions, NGOs, etc. that act as executing agencies on projects. In March 2014, the Adaptation Fund Board gave initial approval for three adaptation project concepts in India, all managed by NABARD. These funds have not yet been disbursed. Table VI.1: Adaptation Fund project pipeline for India Project Climate Proofing of Watershed Development Projects in the States of Tamil Nadu and Rajasthan Building Adaptive Capacities of Small Inland Fishermen Community for Climate Resilience and Livelihood Security, MP, India Enhancing Adaptive Capacity and Increasing Resilience of Small and Marginal Farmers in Purulia and Bankura Districts of West Bengal Cost ( USD million) 1.227 1.738 2.534 Ref: Ricardo-AEA/R/ED59216/Final Report 70
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