To finance programs and projects, the GCF channels its resources through national, regional and international institutions. Previously, these institutions undergo an accreditation process whose objective is to determine if they meet the standards required by the GCF, in terms of financial resources management, compliance with environmental, social and gender safeguards, and capacity for proper program and projects management.
During the accreditation process, the policies and procedures, the records and the different tools for the execution of programs and projects of the institution are evaluated, pursuant to GCF standards.
Currently, Profonanpe is the only institution accredited by the GCF in Peru as a National Implementing Entity (NIE) for programs and projects under the following characteristics:
- Size of each individual project: Micro (total program or project cost up to USD 10 million including co-financing).
- Fiduciary standard: Direct management of programs or projects (excludes grants to third parties) and grant allocation.
- Environmental and social risk category: B (the program or project entails medium risk).
Profonanpe's upgrade was approved during the GCF's last Board on 2018. We are currently formalizing this upgrade.
To learn more about Profonanpe’s accreditation process, download a systematized experience here.
To know more about the Framework Agreement signed between the GCF and Profonanpe, press here.