This report presents the outcomes of the 16th meeting of the Adaptation Fund Board (AFB) held in 2011. The report highlights the accreditation of two new National Implementation Entities (NIEs) as a key decision adopted by the AFB. The two entities, the Ministry of Planning and International Cooperation (MOPIC) of Jordan and the Ministry of Natural Resources (MINIRENA) of Rwanda, are both governmental ministries. The report points out that this is first time that ministries have been accredited; this will open a new window of opportunities for developing countries to consider, because all of them have at least one ministry which is a core recipient of foreign investment. The Adaptation Fund (AF) discussed the modalities of two workshops to familiarise developing countries with the accreditation process during the first half of 2012. The AF board also debated on 11 project proposal documents submitted by the accredited implementing entities. The AFB approved six fully developed projects and three concept notes. Three of the six approved projects will be implemented by the United Nations Development Programme (UNDP) and two by United Nations Environment Programme (UNEP). The AFB also addressed a breach of the code of conduct by an AFB member who engaged in explicit lobbying with the AFB members to approve a project from his country. This happened in the context of the Tanzanian project which, after several rejections and revisions, was finally approved. In addition to the decisions of the Board, this report presents activities of the AF during the Conference of the Parties serving as the meeting of the Parties to the Kyoto Protocol (CMP) and minutes from the third civil society organisations' dialogue with the AF Board members, as well as the side event organised by the secretariat.