Finance1
14. The provision of financial support [shall] [should] be guided by the following:2
(a) Financial support [shall] [must] be substantially scaled-up, new, adequate, predictable, sustainable, stable, timely, sufficient, commensurate, country and demand driven and additional to, and separate from, resources provided by developed country Parties to meet their official development assistance (ODA) targets;
(b) Access to financial support [shall] [must] be simplified and expeditious, allowing for direct access by developing country Parties, and not be dependent on the completion of national adaptation plans;
(c) Financial support [shall] [should] be provided to all developing country Parties, especially those that are particularly vulnerable:3
(i) Based on mandatory contributions from developed country Parties and other developed Parties included in Annex I to the Convention [as payment of their adaptation debt];
(ii) As grants [and concessional loans] based on entitlements to receive regular, continuous instalments;
(iii) [Through a programmatic approach and for project-based, stand-alone adaptation action going beyond the integration of adaptation into sustainable development plans;]
(iv) To [meet] [assist in meeting] the agreed full costs [and agreed full incremental costs] of adaptation action incurred by such Parties, without requiring cofinancing;
(d) Financial support should be provided through the enhanced financial architecture and be under the authority and guidance of, and fully accountable to, the COP;
(e) [In accordance with commitments of Parties and guidance provided by the COP, complementarity and coherence between adaptation funding provided under the Convention and bilateral and multilateral adaptation funding provided outside the Convention [shall] [should] be ensured;]
(f) Of the adaptation funding available:
(i) [Seventy] [xx] per cent should be earmarked for LDCs, SIDS and countries in Africa affected by drought, desertification and floods;
(ii) [Thirty] [xx] per cent should be earmarked for disaster reduction and preparedness.
