Amendment No. 5 to the Administration Agreement between the Kingdom of Spain,
represented by the Ministry for the Ecological Transition (formerly, Ministry of
Agriculture, Food and Environment) and the Ministry of Economy and Business
(formerly, Ministry of Economy and Competitiveness) and the International Bank for
Reconstruction and Development regarding the CF Assist Trust Fund (Trust Fund No.
TFO54846)
1. Reference is made to the Administration Agreement between the Kingdom of Spain represented by
the Ministry for the Ecological Transition (formerly, Ministry of Agriculture, Food and Environment) and
the Ministry of Economy and Business (formerly, Ministry of Economy and Competitiveness) (the
"Donor") and the International Bank for Reconstruction and (the "Bank" and together with the Donor, the
"Parties" and each a "Party"), regarding the CF Assist Trust Fund (Trust Fund No. 054846) dated May 6,
2005, as may have been amended (the "Administration Agreement")
2.     The Parties agree to amend the Administration Agreement as follows:
(a) The introductory paragraph of Annex I to the Administration Agreement is deleted in its
entirety and replaced with the following:
"This Annex shall be applicable to and form an integral part of all administration
agreements for the Trust Fund (collectively, the "Administration Agreements" and each an
"Administration Agreement") between the Bank and any entities that provide any funds to
the Trust Fund (collectively, the "Donors")."
(b) Section 2 of the Annex I to the Administration Agreement is deleted in its entirety and replaced
with the following:
"2. Obiectives and Activities
Obiective
The objective of the Trust Fund is to nurture and support an enabling environment
for stakeholders to participate in international and iegional coalitions for climate
action for governments to meet the goals of the Paris Agreement through provision
of capacity building, climate analytics and advisory services, knowledge
dissemination and partnerships, and support for strengthening climate advocacy.
Activities
The Contribution will be used for the following activities:
(a)    build the capacity of National and Sub-national Entities working on the
Clean Development Mechanism, New Market Mechanisms, Nationally
Appropriate Mitigation Actions, including providing support for capacity
development to review and approve carbon finance and climate finance projects,
and building structures to support mobilizing, accessing and main streaming
climate finance into development plans and maintain such capacity;
(b)    (i) identify, develop and enhance the implementation of portfolios of
carbon finance projects, low carbon and climate finance initiatives or policies in
developing countries, and (ii) build the capacity of project sponsors, financial
intermediaries, government officials to initiate, develop, compare and register such
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projects, programs, activities or policies, and prepare them up to financial closure,
including determining the relative value of low carbon projects, activities,
programs and policies through assessment of their overall benefits, risks and
contribution to the global greenhouse gas mitigation effort;
(c)    provide support that will enable participating countries to identify and
replicate successful carbon and climate finance projects, programs and policies
including developments of baseline and monitoring activities across important
sectors of the economy, use of innovative financial tools to improve project
financing and design of green investments schemes for various asset classes;
(d)    convene informed dialogues on carbon pricing at the global, regional and
country levels to increase political ambition and action and business support for
carbon pricing and corporate pricing;
(e)    generate and broadly disseminate to selected developing countries and
subnational stakeholders for climate finance and low emission development,
innovative learning tools that combine state-of-the-art knowledge on climate
finance and carbon finance, evolving policy instruments in support of low emission
development, and case studies showcasing best practices;
(f)    convene knowledge sharing fora on emissions markets, carbon pricing and
climate finance including Global Carbon Expo and regional fora in Latin America,
Africa and Asia. Provide support to regional knowledge exchange activities related
to low emissions development in collaboration with international development
partners, United Nations (UN) Agencies and regional stakeholders; and
(g)    develop analytical work and case studies on such topics as carbon pricing
systems, climate change mitigation programs, international carbon asset reserve,
international settlement platform, climate transparency platform and greenhouse
gas mitigation contribution composite index.
(h)    program management and administration activities for the Trust Fund,
including but not limited to, supporting any program governance arrangements and
Trust Fund related meetings; planning and executing work plans and budgets;
managing communications and conducting outreach; disseminating lessons
learned; reporting on progress; and monitoring and evaluating the program."
(c) Paragraph 7 of Annex 2 to the Administration Agreement is deleted in its entirety and replaced
with the following:
"7. Governance
"The CF Assist Manager will be responsible for day-to-day management of CF Assist
program and its delivery, overseeing the selection of countries, and ensuring effective
communication with donors. In developing the annual work plan, the CF Assist Manager will
consult with both the Steering Group of the Donor Committee (or full Donor Committee if no
Steering Group is established)."
(d) Paragraph 10(a) of Annex 2 to the Administration Agreement is deleted in its entirety and
replaced with the following:
"(a) It is expected that the Contribution funds will be fully disbursed by the IBRD in
accordance with the provision of this Agreement by June 30, 2029. The IBRD shall only
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disburse Contribution funds for the purpose of this Agreement after such date with
written approval of the Donors."
3.     All other terms of the Administration Agreement shall remain the same.
4.     Each of the Parties represents, by confirming its agreement below, that it is authorized to enter into
this Amendment and act in accordance with these terms and conditions. The Parties are requested to sign
and date this Amendment, and upon possession by the Bank of this fully signed Amendment and respective
amendments signed by all other donors to the Trust Fund, this Amendment shall become effective as of the
date of the last signature.
INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
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By:
Bernice K. Van Bronkhorst
Name:
Title.             Director for climate change
14-Mar-2019
Date:
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Date:      20MARZ209
MINISTRY OF ECONOMY AND BUSINESS
By:
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Date:          0 5 ABR 2019
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