[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111500-en":3,"doc-seo-111500-105":29,"detail-sidebar-cat-0-en-105":90},{"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":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111500,8796095461564,"Liam","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","Proposed Establishment of a Financial Intermediary Fund for Responding to Loss and Damage - Chair Summary - June 10, 2024","Executive Directors approved establishing a Financial Intermediary Fund for Responding to Loss and Damage (FLD) at the World Bank, with the World Bank serving as interim Trustee and hosting the Secretariat. The FLD is designed around financing agreements between the Trustee and approved recipients, clarifying that the Trustee/Secretariat will not influence funding allocation, identification, appraisal, implementation, or monitoring. Directors emphasized distinct accountability for IEs and DARs, Board-led fundraising, and protections against reputational risks through a focused communications strategy. They also supported partnerships to prepare qualifying projects and planned further design decisions for the FLD Board.","Public Disclosure Authorized Public Disclosure Authorized  \nProposed Establishment of a Financial Intermediary Fund for Responding to Loss and Damage  \nChair Summary*  \nJune 10, 2024  \nExecutive Directors approved the proposal to establish a Financial Intermediary Fund for Responding to Loss and Damage (FLD) 1 at the World Bank, for which the World Bank will provide support to the FLD by acting as an interim Trustee and host to the Secretariat. This Fund will have a novel structure where the Trustee will enter into financing agreements with recipients ofFLD funding, including direct access recipients (DARs) and implementing entities (IEs), other than MDBs, UN agencies and the IMF, on behalf of the FLD Board, which will have an independent legal personality. In that regard, Directors additionally approved that any subsequent proposal to include direct access in a FIF where the Bank as FIF trustee signs the financing agreements with recipients will be submitted to Executive Directors for approval. Further, Directors approved the provision of assistance from the FLD to Parties to the Convention and the Paris Agreement that are not members of the World Bank.  \nDirectors recognized the critical importance of the provision of finance related to loss and damage and agreed that the FLD can play a key role in the overall climate finance architecture. They agreed with Management’s proposed approach to meeting the conditions related to the hosting of the secretariat and trustee roles contained in the COP/CMA Decision text.  \nIt was recognized that the proposal that the Bank as Trustee will sign the financing agreements with a broader range of IEs and DARs represents a notable departure from FIF management policy and practice and will be done on condition that the roles, responsibilities, and accountabilities of the parties are clearly agreed and delineated in all relevant documents and communications.  \nDirectors agreed with the importance of clarifying that the Bank as the interim Trustee and the Secretariat will not play any role in funding allocation decisions, and likewise will play no role in the identification, preparation, appraisal, implementation or monitoring of projects, and will in noway be accountable for the end use of resources or activities carried out, which are the sole responsibility of IEs and DARs. They noted that IEs and DARs are solely responsible for the management of fiduciary, integrity, environmental and social risks and are accountable to the FLD Board for the use of funds in accordance with applicable policies and procedures to be agreed by the FLD Board. EDs underscored that FLD Board will be solely responsible for fundraising, and that the WB will not play a role in this regard.  \nDirectors noted the importance of protecting the Bank from reputational risks and stressed the need for a communications and engagement strategy, including a plan to clarify the limited roles of the Bank in relation to the FLD.  \nDirectors asked to consider partnerships with countries to help them get ready with projects that could qualify for funding from the FLD, with support from WBG technical assistance and analytical work.  \n1 The official name of the fund will be approved by the Fund’s Board.  \nDirectors appreciated that the further design and operational arrangements of the FLD will be discussed and agreed by the FLD Board. They noted the importance of fostering synergies across climate FIFs and requested that existing procedures for accreditation under existing climate FIFs be considered, building on lessons and good practices from other FIFs, and noting the importance of inclusivity, efficiency, transparency, and accountability.  \nFinally, Directors agreed with Management’s proposal to declassify and disclose the document.  \n*This Summary is not an approved record.","cbCailZDX8ygVFB9","https://ap.wps.com/l/cbCailZDX8ygVFB9","pdf",85584,1,2,"English","en",105,"# Chair Summary\n## Approval and fund structure\n## Roles, responsibilities, and accountability\n## Governance, safeguarding, and communications\n## Partnerships, synergies, and disclosure","[{\"question\":\"What did the Executive Directors approve regarding the FLD at the World Bank?\",\"answer\":\"They approved the proposal to establish a Financial Intermediary Fund for Responding to Loss and Damage (FLD) at the World Bank, with the World Bank providing support by acting as an interim Trustee and hosting the Secretariat.\"},{\"question\":\"Will the World Bank influence funding allocation or project decisions under the FLD?\",\"answer\":\"No. The interim Trustee and Secretariat will not play a role in funding allocation decisions, nor in project identification, preparation, appraisal, implementation, or monitoring, and will not be accountable for end use of resources or activities.\"},{\"question\":\"Who is responsible for fundraising and for the management and risks associated with FLD funds?\",\"answer\":\"Fundraising is the responsibility of the FLD Board, while IEs and DARs are responsible for managing fiduciary, integrity, environmental, and social risks and for accountability in line with agreed policies and procedures.\"}]",1784490411,5,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"proposed-establishment-of-a-financial-intermediary-fund-for-responding-to-loss-and-damage-chair-summary-june-10-2024","",{"@graph":35,"@context":84},[36,52,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,46,49],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":21},"https://docshare.wps.com/document/","Document",{"item":47,"name":12,"@type":42,"position":48},"https://docshare.wps.com/document/research-report/",3,{"item":50,"name":13,"@type":42,"position":51},"https://docshare.wps.com/document/proposed-establishment-of-a-financial-intermediary-fund-for-responding-to-loss-and-damage-chair-summary-june-10-2024/111500/",4,{"url":50,"name":13,"@type":53,"author":54,"headline":13,"publisher":56,"fileFormat":59,"inLanguage":23,"description":14,"dateModified":60,"datePublished":61,"encodingFormat":59,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":55},"Person",{"url":40,"name":57,"@type":58},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":20},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"What did the Executive Directors approve regarding the FLD at the World Bank?","Question",{"text":74,"@type":75},"They approved the proposal to establish a Financial Intermediary Fund for Responding to Loss and Damage (FLD) at the World Bank, with the World Bank providing support by acting as an interim Trustee and hosting the Secretariat.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"Will the World Bank influence funding allocation or project decisions under the FLD?",{"text":79,"@type":75},"No. The interim Trustee and Secretariat will not play a role in funding allocation decisions, nor in project identification, preparation, appraisal, implementation, or monitoring, and will not be accountable for end use of resources or activities.",{"name":81,"@type":72,"acceptedAnswer":82},"Who is responsible for fundraising and for the management and risks associated with FLD funds?",{"text":83,"@type":75},"Fundraising is the responsibility of the FLD Board, while IEs and DARs are responsible for managing fiduciary, integrity, environmental, and social risks and for accountability in line with agreed policies and procedures.","https://schema.org",{"og:url":50,"og:type":86,"og:title":13,"og:site_name":57,"og:description":14},"article",{"robots":88,"canonical":50},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":91},[92,96,100,104,108,113,118,121,126,129,133],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":93,"show_sort_weight":94,"slug":95},"Story & Novel",90,"story-novel",{"id":21,"doc_module":4,"doc_module_name":45,"category_name":97,"show_sort_weight":98,"slug":99},"Literature",80,"literature",{"id":51,"doc_module":4,"doc_module_name":45,"category_name":101,"show_sort_weight":102,"slug":103},"Exam",70,"exam",{"id":28,"doc_module":4,"doc_module_name":45,"category_name":105,"show_sort_weight":106,"slug":107},"Comic",60,"comic",{"id":109,"doc_module":4,"doc_module_name":45,"category_name":110,"show_sort_weight":111,"slug":112},6,"Technology",50,"technology",{"id":114,"doc_module":4,"doc_module_name":45,"category_name":115,"show_sort_weight":116,"slug":117},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":119,"slug":120},30,"research-report",{"id":122,"doc_module":4,"doc_module_name":45,"category_name":123,"show_sort_weight":124,"slug":125},9,"Religion & Spirituality",20,"religion-spirituality",{"id":124,"doc_module":4,"doc_module_name":45,"category_name":127,"show_sort_weight":124,"slug":128},"World Cup","world-cup",{"id":130,"doc_module":4,"doc_module_name":45,"category_name":131,"show_sort_weight":130,"slug":132},10,"Lifestyle","lifestyle",{"id":134,"doc_module":4,"doc_module_name":45,"category_name":135,"show_sort_weight":28,"slug":136},19,"General","general"]