Memorandum of Understanding between the Asian Development Bank and the Global Environment Facility Secretariat

Representatives of the Asian Development Bank and Global Environment Facility (GEF) Secretariat have held discussions regarding Project Preparation and Development Facility (PDF) Grants.

"PDF-B Grant" or "Grant" means the funds approved by the Chief Executive Officer of the GEF Secretariat on the basis of a Grant Application for the financing of a PDF-IB (i.e., a level B grant from the Project Preparation and Development Facility, under which GEF funds are allocated to project preparation and development activities, as such terms may be amended from time to time).

This Memorandum of Understanding gives a summary of the discussions held between the two parties.