15 December 2008: The Adaptation Fund Board (AFB) is holding its fourth meeting from 15-17 December 2008, at the UN Campus in Bonn, Germany. The Adaptation Fund was established by the parties to the Kyoto Protocol of the UNFCCC to finance concrete adaptation projects and programmes in developing countries that are parties to the Kyoto Protocol. The Fund will be financed with 2% of the Certified Emission Reductions issued for projects of the Clean Development Mechanism and with funds from other sources.

At its fourth meeting, the Board is expected to address a number of
issues with regard to recent decisions taken by the Conference of the
Parties serving as the fourth Meeting of the Parties to the Kyoto
Protocol (COP/MOP 4) under the UNFCCC, which was held in Poznan,
Poland, from 1-12 December 2008. The COP/MOP adopted several documents
in order to operationalize the Fund, particularly: the rules of
procedure of the AFB; the memorandum of understanding between the
COP/MOP and the GEF Council regarding secretariat services to the AFB,
on an interim basis; the terms and conditions of services to be
provided by the World Bank as trustee for the Adaptation Fund, on an
interim basis; and the strategic priorities, policies and guidelines of
the Adaptation Fund. The COP/MOP also made a decision to confer the AFB
with legal capacity for the discharge of its functions with regard to
direct access by eligible parties and implementing and executing
entities. [COP/MOP decision on the Adaptation Fund] [Report of the Third Meeting of the AFB]