Global Biodiversity Funding Strategies Set in GBFF Meeting
Delegates convened in Washington DC for the inaugural council meeting of the Global Biodiversity Framework Fund (GBFF) (8th-9th February), outlining crucial policies for its execution post the COP15 proposal.
Highlights of the Meeting
- Policy Approvals for Resource Allocation and Project Cycle: Delegates greenlit the Resource Allocation Policy and Project Cycle Policy, crucial for efficient allocation of donor funds.
- Authority and Mandate of GEF Chief Executive: The GBFF Resource Allocation Policy entrusts the Global Environment Facility (GEF) chief executive with approving projects worth up to $5 million, with midterm reviews mandated for projects exceeding $2 million.
- Project Preparation Timeline: GEF implementing agencies are ....
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