Direct access allows developing country institutions to directly access finance from the international climate funds. Direct access has become widely recognized as a good practice in the architecture of climate finance. It allows developing countries to access climate finance and manage all aspects of the project cycle, from design through implementation and monitoring, directly through accredited national institutions, using their own procedures and systems. This has several advantages for developing countries – it provides an opportunity to access international climate finance through the institutions that are often best placed to respond to the most pressing needs and deliver climate-compatible development results that are tailored to the local context. At the same time, it provides an opportunity to strengthen the capacity of national institutions, and to scale up their operations with time and experience.
However, both accreditation and development of projects for the multilateral are complex processes which pose a number of challenges for these institutions and countries. In going through these processes, there is also a great deal of learning which enriches the experience and capacities of the institution. This is the reason why the Direct Access Community of Practice has been established.
More information about direct access accreditation to the Green Climate Fund is found here. And information on the Adaptation Fund's requirements is found here. The Global Environment Facility is not currently accepting applications for accreditation.