A great deal of confusion has resulted from the fact that it has hitherto not been possible for the GCF Board to agree on definitions for some of the key nouns referred to in the GCF Governing Instrument in the context of who can access GCF funding. This Concept Note by Benito Müller proposes the following very simple definitions in terms of the GCF accreditation categories:

• Implementing Entity (IE): an entity accredited by the GCF to access GCF funding.
• Project Implementing Entity (PIE): an IE accredited for project management.
• Funding Entity (FE): an IE accredited to award grants and/or allocate funding.
• Financial Intermediary (FI): an IE accredited for on-lending and/or blending.
• Intermediary: an FE and/or FI.