Since 2008, the CIF has been leading efforts to empower transformations in the energy, climate resilience, transport and forestry sectors. CIF concessional financing offers flexibility to test new business models and approaches, build track records in unproven markets, and boost investor confidence to unlock additional finance from other sources, particularly the private sector and the multilateral development banks that implement CIF funding.
The $8.3 billion Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to manage the challenges of climate change and reduce their greenhouse gas emissions.
Total CIF pledges of $8.3 billion are expected to attract an additional $58 billion of co-financing for a portfolio of over 300 projects and counting.
The CIF is comprised of four programs:
-The $5.6 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.
-The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.
-The $780 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries.
-The $775 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD+).