20 Nations to Boost Renewable Energy through Clean Technology Fund

A wind farm in Tunisia. Tunisia is among the 20 countries that have won backing from the Climate Technology Fund for its renewable energy investment plan. Photo by: Dana Smillie / World Bank

In the run-up to this month’s climate talks in Cancun, Mexico, 20 developing nations have secured support from the Clean Technology Fund to help bolster renewable energy sources.

The USD4.5 billion CTF is one of the two primary funds under the Climate Investment Funds, a multitalteral financing instrument designed to support low-emission and climate-resilient development. CTF’s project pipeline includes a first round of renewable energy projects worth USD2.4 billion.

Algeria, Egypt, Indonesia, Jordan, Kazakhstan, Mexico, Morocco, Philippines, South Africa, Thailand, Tunisia, Turkey, Ukraine and Vietnam have secured CTF’s support to invest in renewable energy at a large scale. CTF will also back renewable energy plans of Ethiopia, Honduras, Kenya, Maldives, Mali and Nepal.

Nigeria also submitted a renewable energy investment plan, which can be implemented once funding becomes available, according to a World Bank press release. 

The CIF’s governing body held a week-long meeting last week where pilot country dialogues on forest, climate resilience and renewable energy programs were conducted. These pilot country dialogues will play a key role in the CIF’s Partnership Forum scheduled for March 2011 in Tunis to be hosted by the African Development Bank. 

About the author

  • Dsc05567

    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.