The Evaluation Department of the Danish Ministry of Foreign Affairs (EVAL) initiated the Evaluation of the operation of the Least Developed Countries Fund (LDCF) at the request of the Ministry's Environmental Secretariat. UNFCCC COP Decision 5/CP.14 by parties to the United Nations Framework Convention on Climate Change (UNFCCC) provided an important context for the work. It invites Parties and relevant organisations to submit information on the preparation and implementation of NAPAs. At the invitation of EVAL, the Global Environment Facility Evaluation Office (GEF EO) joined the initiative, in part, due to its relevance for the Fourth Overall Performance Study of the GEF. The objective of the Evaluation was to analyze and document the results and lessons learned from the operations of the LDCF in financing and promoting climate change adaptation in the least developed countries.