About the Climate Investment Funds
The Climate Investment Funds (CIF) is providing 63 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions.
Since 2008, the CIF champions innovative country-led investments in clean technology, renewable energy, sustainable management of forests, and climate-resilient development. Fourteen contributor countries have pledged a total of $8.1 billion to the CIF, which is expected to leverage an additional $57 billion from other sources. The CIF allocates financing through four funding windows:
- The $5.3 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 $785 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 +).
- 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 $796 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 CIF was founded on three key principles:
1. DELIVERING INVESTMENT TO STIMULATE TRANSFORMATION
Designed to mobilize resources for climate-smart development, the CIF is currently the largest source of concessional financing for the mitigation and adaptation investments of partner multilateral development banks (MDBs). The CIF provided $1.8 billion (43%) of the $4.2 billion MDB total external resources for climate finance in 2012 and 2013. In turn, the CIF $1.8 billion expects $15 billion in co-financing from the MDBs (26% of $57 billion total expected co-financing). Another $19 billion in co-financing (34%) is expected from the private sector. The CIF is allocating $2.4 billion (29% of CIF total funding) to private sector programs and projects.
2. FOSTERING PARTNERSHIPS THROUGH A PROGRAMMATIC APPROACH
The CIF takes a country-led programmatic approach involving multiple stakeholders from key sectors of the economy to develop and implement an investment plan that builds on national policies and existing initiatives. By reaching across institutions and groups—including civil society, indigenous peoples, and the private sector—the CIF aims to build the trust, transparency, and country ownership required for lasting transformational change.
3. LEARNING BY DOING TO ACHIEVE RESULTS
The CIF was established to test and learn about deployment of climate finance at scale. As more projects an