Adaptation Fund Board Accredits National Implementing Entities in Costa Rica, Morocco
21 November 2012: The Adaptation Fund Board (AFB) has accredited two new entities as a National Implementing Entities (NIEs): the Fundecooperacion for Sustainable Development of Costa Rica, and the Agency for Agricultural Development (ADA) of Morocco.
The Board decisions bring the total number of national entities accredited to 14. The direct access approach of the Adaptation Fund through an NIE creates the possibility to access and manage funds independently of multilateral agencies. The accreditation of ADA and Fundecooperacion required evidence that these organizations comply with the fiduciary standards, including on financial integrity and management, institutional capacity, and transparency and self-investigative powers.
Fundecooperacion is a nonprofit foundation established in 1994 to promote sustainable development, and has funded projects in areas related to Climate Smart Agriculture. The Agency for Agricultural Development was established in 2008 and is responsible for overseeing the implementation of the Green Morocco Plan, a government plan to revitalize the agri-food sector.
The Adaptation Fund is a self-standing fund established under the Kyoto Protocol of the UNFCCC. It is designed to finance concrete climate change adaptation projects and programs based on the needs, views and priorities of developing countries. The Global Environment Facility (GEF) provides interim secretariat services to the Adaptation Fund, and the World Bank serves as its interim trustee. [Adaptation Fund Press Release]