Country and Regional Programs
All 16 CTF country and regional investment plans have been endorsed by the Trust Fund Committee. A pipeline of 107 projects has emerged from these plans, totaling $5.5 billion in requested CTF funding. These projects are expected to contribute to about 1.7 billion tons in CO2 emissions savings. As of September 2013, the CTF Trust Fund Committee has approved funding for 51 projects for a total of $2.8 billion, which is expected to leverage $19.1 billion in co-financing from other sources. These 51 projects are expected to contribute toward 780 million tons of CO2 emissions savings.
In 2013, Chile, Colombia, Kazakhstan, Indonesia, Mexico, South Africa, Ukraine, Vietnam, and the MENA (Middle East and North Africa) Regional Program received CTF Trust Fund Committee endorsements of revised investment plans, which were submitted to reflect evolving national and regional circumstances since initial plans were endorsed, as well as early lessons learned from CTF involvement. All CTF investment plans have been updated or revised with the exception of India and Nigeria, which plan to submit an updated or revised plan in the spring of 2014.
The pace of CTF project development, submission for funding approvals and disbursements has been accelerated in recent months. A total of $575 million in CTF funding has been disbursed to 23 projects and programs. Of this amount, $322 million was recorded in fiscal year 2013 alone.
Furthermore under the CTF, $150 million was allocated for two Dedicated Private Sector Programs: the Utility Scale Renewable Energy Program ($115 million) to catalyze a global funding effort aimed at scaling up renewable energy solutions starting with geothermal, and the Renewable Mini-grids and Distributed Power Generation Program ($35 million) to leverage private investment for rural and under-served communities.
CTF investment plans were developed under the leadership of the country and in collaboration with the multilateral development banks (MDBs), after countries requested a joint mission conducted by MDBs. The investment plan describes how CTF funding will be used, to be consistent with the country's policy and focused sector, and in collaboration with other MDBs and development agencies that are active in the country. Once the investment plan is reviewed and endorsed by the Trust Fund Committee, individual projects will be submitted and reviewed by the Trust Fund Committee to ensure consistency with CTF investment criteria, such as i) potential for GHG emissions savings, ii) cost effectiveness, iii) demonstration potential at scale, iv) implementation potential, and v) additional costs and risk premiums. Progress of CTF operations is reported twice a year in the CTF semi-annual operational report . Funding disbursement is reported in the Trustee's Disbursement Report.
'Ecocasas' pictured in Mexico. The U.N. Framework Convention on Climate Change on Nov. 20, 2013 awarded the CTF-co-financed Ecocasa Program in Mexico a “Lighthouse Activity” as part of its Momentum for Change Initiative recognizing innovative activities that demonstrate results to address climate change. Ecocasa supports construction of 27,000 efficient homes to reduce greenhouse gas emissions and improve the lives of low-income families.