[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111513-en":3,"doc-seo-111513-105":30,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},111513,8796095461564,"Liam","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","ESTABLISHMENT OF A FINANCIAL INTERMEDIARY FUND FOR RESPONDING TO LOSS AND DAMAGE - May 24, 2024","The World Bank document outlines the COP/CMA decision to operationalize a fund addressing loss and damage from the adverse effects of climate change, with initial commitments exceeding US$661 million. It proposes establishing a World Bank-hosted Financial Intermediary Fund (FIF) for an interim four-year period, detailing objectives, scope, governance, key operational features, and financial inputs. It also covers the Bank’s invitation, alternatives considered, risks, mitigation measures, and the next steps toward approval.","Public Disclosure Authorized Public Disclosure Authorized  \nDocument of  \nThe World Bank  \nESTABLISHMENT OF A FINANCIAL INTERMEDIARY FUND FOR  \nRESPONDING TO LOSS AND DAMAGE  \nMay 24, 2024  \nABBREVIATIONS AND ACRONYMS  \n\n| AF | Adaptation Fund |\n| --- | --- |\n| ASP | Adaptive Social Protection |\n| CAT DDO | Catastrophe Deferred Drawdown Options |\n| CIF | Climate Investment Funds |\n| CMA | Conference of the Parties serving as the meeting of the Parties to the Paris Agreement |\n| COP | Conference of the Parties |\n| CSO | Civil Society Organization |\n| DA | Direct Access |\n| DAR | Direct Access Recipient |\n| DPO | Development Policy Operations |\n| DRR | Disaster Risk Reduction |\n| ED | Executive Director |\n| ESF | Environmental and Social Framework |\n| FCV | Fragility, Conflict and Violence |\n| FLD | Fund for Responding to Loss and Damage |\n| FIF | Financial Intermediary Fund |\n| FPA | Financial Procedures Agreement |\n| GCF | Green Climate Fund |\n| GEF | Global Environment Facility |\n| GFDRR | Global Facility for Disaster Reduction and Recovery |\n| GI | Governing Instrument |\n| GPE | Global Partnership for Education |\n| GSFF | Global Shield Financing Facility |\n| IBRD | International Bank for Reconstruction and Development |\n| IDA | International Development Association |\n| IE | Implementing Entity |\n| IMF | International Monetary Fund |\n| MDB | Multilateral Development Bank |\n| P&I | Privileges and Immunities |\n| SIDS | Small Island Developing States |\n| TC | Transitional Committee |\n| UN | United Nations |\n| UNFCCC | United Nations Framework Convention on Climate Change |\n\nTABLE OF CONTENTS  \nI. Introduction ...................................................................................................................................... 1  \nII. Sector Context and the World Bank’s Experience in Loss and Damage .......................................... 2  \nIII. The Proposed Financial Intermediary Fund for Responding to Loss and Damage (FLD) ............... 4  \nA. Objectives, Complementarity and Coherence ....................................................................................... 4  \nB. Scope ..................................................................................................................................................... 5  \nC. Governance and Institutional Arrangements ......................................................................................... 6  \nD. Key Operational Features ...................................................................................................................... 8  \nE. Financial Inputs ................................................................................................................................... 11  \nIV. Invitation to the World Bank .......................................................................................................... 12  \nV. Alternatives Considered ................................................................................................................. 17  \nVI. Risks and Mitigation Measures ...................................................................................................... 18  \nVII. Conclusion, Next Steps and Recommendation............................................................................... 22  \nESTABLISHMENT OF A FINANCIAL INTERMEDIARY FUND  \nFOR RESPONDING TO LOSS AND DAMAGE  \nI. Introduction  \n1. At the 28th annual meeting of the Conference of the Parties (COP) and the 5th meeting of the Conference of the Parties serving as the meeting of the Parties to the Paris Agreement (CMA) held in Dubai in December 2023 (COP28, CMA5), Parties reached a historic agreement (hereinafter referred to as the COP/CMA Decision) on the operationalization of a fund for responding to loss and damage associated with the adverse effects of climate change, with initial financial commitments totaling over US$661 million.1 The COP/CMA Decision (attached as Annex A) designates the Fund as an entity ","cbCaieYeMrS11wvZ","https://ap.wps.com/l/cbCaieYeMrS11wvZ","pdf",727042,2,1,50,"English","en",105,"# Introduction\n## Background and COP/CMA decision timeline\n# Sector context and World Bank experience\n# Proposed financial intermediary fund for responding to loss and damage (FLD)\n## Objectives, complementarity and coherence\n## Scope\n## Governance and institutional arrangements\n## Key operational features\n## Financial inputs\n# Invitation to the World Bank\n# Alternatives considered\n# Risks and mitigation measures\n# Conclusion, next steps and recommendation","[{\"question\":\"What COP/CMA decision established the basis for responding to loss and damage?\",\"answer\":\"Parties reached a historic COP/CMA Decision at COP28 and CMA5 in Dubai in December 2023, operationalizing a fund to address loss and damage associated with the adverse effects of climate change.\"},{\"question\":\"How will the World Bank be involved in the proposed fund?\",\"answer\":\"The World Bank is invited to operationalize the Fund for Responding to Loss and Damage (FLD) as a World Bank-hosted Financial Intermediary Fund (FIF) for an interim period of four years, acting as interim trustee and host of the fund’s secretariat.\"},{\"question\":\"What happens if the World Bank does not confirm its willingness and ability by the stated deadline?\",\"answer\":\"If the confirmation within six months after COP28 is not received, the process to establish an independent fund and select a host country will be launched at 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