Project Strategy Indicator Baseline value Target value and date verification Outcome 1: MEA funding access fast tracked. Status of accreditation SPREP Stage I Stage II applications Final Stage II GEF Council maintains Output 1.1 of Stage II application submitted, finalized and received by application form. support to SPREP's Stage I &II application applications while stage II has not the GEF Secretariat by 31 application. for GEF accreditation GEF Secretariat been submitted yet. December 2014. completed and acknowledgement The MSP is not completed submitted. Stage I Value-Added of receipt. in time the accreditation Review noted 3 areas deadline expires by the 31st need strengthening: (1) December 2014. Assume Demonstration of that the GEF Council will Environmental or Climate approve a second or third Change Adaptation round of accreditation. Results; (2) Institutional New Policies introduced Efficiency; and (3) through this project will Network and Contacts. need time to be tested and reported back to the GEF; Stage II application will be affected from the lack of evidence to testify the success of new policies that would meet GEF minimum accredited standards. Outcome 2: SPREP Fiduciary Capacity strengthened and met accreditation standards GEF’s Objectively verifiable indicators Sources of Project Strategy Risks and Assumptions verification Indicator Baseline value Target value and date Output 2.1: Appointment/contracting Existing SPREP Adequate financial control External auditor Independent external an External Auditor firm Independent Audit (including external audit) ToR auditor has always financial SPREP’s . Committee. in place and operational been recruited annual management/controls Meeting minutes External Audit Firms and audit opinion (including external audit Financial control Audit committee to recruited biennial under reports are submitted Tracking and
Project Strategy verification Indicator Baseline value Target value and date Outcome 1: MEA funding access fast tracked. Output 1.1 Stage I &II application for GEF accreditation completed and submitted. Status of accreditation of Stage II applications SPREP Stage I application submitted, while stage II has not been submitted yet. Stage I Value-Added Review noted 3 areas need strengthening: (1) Demonstration of Environmental or Climate Change Adaptation Results; (2) Institutional Efficiency; and (3) Network and Contacts. Stage II applications finalized and received by the GEF Secretariat by 31 December 2014. Final Stage II application form. GEF Secretariat acknowledgement of receipt. GEF Council maintains support to SPREP's application. The MSP is not completed in time the accreditation deadline expires by the 31st December 2014. Assume that the GEF Council will approve a second or third round of accreditation. New Policies introduced through this project will need time to be tested and reported back to the GEF; Stage II application will be affected from the lack of evidence to testify the success of new policies that would meet GEF minimum accredited standards. Outcome 2: SPREP Fiduciary Capacity strengthened and met GEF’s accreditation standards Project Strategy Objectively verifiable indicators Sources of verification Risks and Assumptions Indicator Baseline value Target value and date Output 2.1: SPREP’s financial management/controls (including external audit Appointment/contracting an External Auditor firm . Financial control Existing SPREP Independent Audit Committee. Audit committee to Adequate financial control (including external audit) in place and operational External Audit Firms recruited biennial under External auditor ToR Meeting minutes Tracking and Independent external auditor has always been recruited annual and audit opinion reports are submitted
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