{"id":24530,"date":"2024-12-20T15:47:46","date_gmt":"2024-12-20T20:47:46","guid":{"rendered":"https:\/\/blogs.edf.org\/climate411\/?p=24530"},"modified":"2024-12-20T15:49:17","modified_gmt":"2024-12-20T20:49:17","slug":"loss-and-damage-finance-the-frld-and-transforming-climate-finance-quality","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/climate411\/2024\/12\/20\/loss-and-damage-finance-the-frld-and-transforming-climate-finance-quality\/","title":{"rendered":"Loss and Damage Finance: the FRLD and Transforming Climate Finance Quality"},"content":{"rendered":"<figure id=\"attachment_24531\" aria-describedby=\"caption-attachment-24531\" style=\"width: 540px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-24531\" src=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/\/0O4A6614-1024x683.jpg\" alt=\"\" width=\"540\" height=\"360\" srcset=\"https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/0O4A6614-1024x683.jpg 1024w, https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/0O4A6614-300x200.jpg 300w, https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/0O4A6614-768x512.jpg 768w, https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/0O4A6614-1536x1025.jpg 1536w, https:\/\/blogs.edf.org\/climate411\/wp-content\/blogs.dir\/7\/files\/0O4A6614-2048x1366.jpg 2048w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><figcaption id=\"caption-attachment-24531\" class=\"wp-caption-text\">B4 FLRD Board meeting opening by Mrs. Maria Antonia Yulo-Loyzaga, Secretary of Environment &amp; Natural Resources of The Philippines. <em>Photo credit: Government of the Philippines<\/em><\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">The newly established <\/span><a href=\"https:\/\/unfccc.int\/loss-and-damage-fund-joint-interim-secretariat\"><span data-contrast=\"none\">Fund for responding to Loss and Damage (FRLD)<\/span><\/a><span data-contrast=\"auto\"> represents more than just another funding mechanism \u2013 it&#8217;s an opportunity to reimagine how climate finance can work better for countries already experiencing the extreme impacts of climate change.\u00a0<\/span><span data-ccp-props=\"{&quot;469777462&quot;:[720],&quot;469777927&quot;:[0],&quot;469777928&quot;:[8]}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As the Fund prepares for its \u201cstart-up phase\u201d in 2025, it has the potential to address longstanding quality issues that have kept climate finance from making positive climate impact, which are more important than ever as the international community gets for COP30 and to triple finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035 and secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources, to the amount of USD 1.3 trillion per year by 2035.<\/span><span data-ccp-props=\"{&quot;469777462&quot;:[720],&quot;469777927&quot;:[0],&quot;469777928&quot;:[8]}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Here\u2019s how:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><!--more--><\/p>\n<p><b><i><span data-contrast=\"auto\">Setting the Foundation<\/span><\/i><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/unfccc.int\/event\/fourth-meeting-of-the-board-of-the-fund-for-responding-to-loss-and-damage\"><span data-contrast=\"none\">At its recent board meeting in Manila<\/span><\/a><span data-contrast=\"auto\">, the FRLD Board took decisive steps toward operationalizing a bottom-up, country-led approach for 2025-2026. The newly established start-up phase will:<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Develop inclusive, country-led approaches that strengthen national responses to loss and damage<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Explore innovative financial instruments outlined in the governing instrument<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Test direct budgetary support through accessible channels<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Serve as a learning period to refine operational approaches<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">This ambitious agenda aligns and contributes to the newly agreed New Collective Quantified Goal (NCQG) on climate finance. The FRLD&#8217;s innovative approach could help ensure this unprecedented scale-up in climate finance truly serves developing countries&#8217; needs.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Breaking Down Access Barriers<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Simplifying Processes<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">One of the most persistent challenges in climate finance has been the complex, time-consuming process of accessing funds. The FRLD is taking a different approach. The Board has specifically mandated development of simplified procedures and fast-tracked screening processes for 2025.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Speed When It Matters<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This streamlined approach could revolutionize how countries access support, especially in the critical moments following climate disasters. For example, the Fund will explore rapid response windows that can quickly channel resources to affected communities.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">Putting Countries in the Driver&#8217;s Seat<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The FRLD&#8217;s emphasis on country-led approaches reflects growing recognition that effective climate finance must align closely with national priorities and circumstances. The Board&#8217;s decision emphasizes:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Direct budget support with clear, country-driven metrics<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Technical assistance aligned with national priorities<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Flexible approaches that respect country circumstances<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><i><span data-contrast=\"auto\">Quality Over Quantity<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While reaching the NCQG&#8217;s $1.3 trillion target is crucial, the FRLD reminds us that how money flows is just as important as how much. To this effect, the Fund will need to prioritize:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Grant-based support to avoid increasing debt burdens<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Highly concessional finance when appropriate<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Direct access to resources for vulnerable countries<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Clear metrics to track impact and effectiveness<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Learning by Doing<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Perhaps most promising is the Fund&#8217;s commitment to learning and evolution. Rather than waiting to perfect every detail, the FRLD is taking an adaptive approach. Its start-up phase will:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Test and refine operational approaches<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Build evidence for what works<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Enable rapid adjustments based on experience<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Share lessons with the broader climate finance community<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">Building Better Partnerships<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The FRLD isn&#8217;t working in isolation. Its Board is outlining specific plans for coordination with:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The Santiago Network for technical assistance<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Existing climate funds (Green Climate Fund, Global Environment Facility, Adaptation Fund, Climate Investment Funds)<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559740&quot;:259}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">The Warsaw International Mechanism<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"auto\">Other relevant stakeholders and networks<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">This collaborative approach promises to address fragmentation in climate finance while maintaining the Fund&#8217;s distinct focus on loss and damage.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">The Road Ahead<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">As the FRLD moves from design to implementation, maintaining this focus on quality will be crucial. Success will require more than just disbursing funds quickly \u2013 it means ensuring those resources truly serve the needs of vulnerable communities facing climate impacts.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The coming year will be critical as the Fund establishes its operational procedures and begins processing support requests. If it can deliver on its promise of simplified access, country ownership, and adaptive management, the FRLD could set new standards for quality in climate finance that benefit the entire system.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For vulnerable countries and communities on the frontlines of climate change, that transformation can&#8217;t come soon enough.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The newly established Fund for responding to Loss and Damage (FRLD) represents more than just another funding mechanism \u2013 it&#8217;s an opportunity to reimagine how climate finance can work better for countries already experiencing the extreme impacts of climate change.\u00a0\u00a0 As the Fund prepares for its \u201cstart-up phase\u201d in 2025, it has the potential to &#8230;<\/p>\n","protected":false},"author":153063,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[107945,107931,109,44,46599],"tags":[107946],"coauthors":[108008],"class_list":["post-24530","post","type-post","status-publish","format-standard","hentry","category-climate-finance","category-innovation","category-international","category-policy","category-united-nations","tag-climate-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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