The Adaptation Fund was established to finance concrete adaptation projects and programmes in developing countries that are parties to the Kyoto Protocol and are particularly vulnerable to the adverse effects of climate change. Since 2010, the Adaptation Fund has committed $354.89 million to support 61 countries, including 22 Least Developed Countries and 13 Small Island Developing States.
The Adaptation Fund is supervised and managed by the Adaptation Fund Board (AFB). The Board is composed of 16 members and 16 alternates and holds periodic meetings throughout the year.
The World Bank serves as trustee of the Adaptation Fund on an interim basis.