Finances

The CIF’s governance and accountability framework is supported by appropriate financial and management reporting. One of the CIF’s operational principles is to have separate responsibilities for resource allocation, fiduciary responsibilities and administrative functions. The Trust Fund Committees have the authority for resource allocation in accordance with the power assigned to them through the CIF Governance Framework documents for the CTF and SCF.

The IBRD as Trustee is in charge of the fiduciary responsibilities in accordance with the Governance Framework for the CTF and SCF as well as in accordance with the World Bank fiduciary policies. The Trustee provides regular reports on the financial status of the CIF to the respective Trust Fund Committees.

At project level, each MDB is responsible for the use of funds transferred by the Trustee in accordance with its own fiduciary framework, policies, guidelines, and procedures. MDBs provide periodic financial reports on these issues, through their Boards, to the Trustee and to the Trust Fund Committees.

Each year an external auditor carries out an annual audit of the accounts of the CIF. A copy of the annual audited financial statement together with the auditor’s written report of the audit findings are shared with the Trust Fund Committees. The audit reports are published on the CTF and SCF Trustee’s website.

In September, 2008, donor countries pledged over $6.1 billion to finance the two CIF Trust Funds,  Clean Technology Fund (CTF) and Strategic Climate Fund (SCF). The funds are disbursed as grants, highly concessional loans, and/or risk mitigation instruments.

The total amount pledged by 14 countries to the CIF Trust Funds (CTF and SCF) is US$ eq. 7.552 billion.*
 
Country US$M equiv.
Australia 167
Canada 283
Denmark 45
France 277
Germany 681
Japan 1,261
Korea 6
Netherlands 76
Norway 249
Spain 141
Sweden 139
Switzerland 26
UK 2,203
US 2,000
Total $7.552 billion

 

*Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of June 30, 2014.

 

Financial Reports:

 

January 2009- CIF Trustee Report

 

 

Trustee Report Disbursement
CTF SCF CTF SCF
April 2009 May 2009 December 2010 December 2010
October 2009 June 2011 June 2011
March 2010 March 2010 December 2011 December 2011
November 2010 November 2010 June 2012  June 2012
June 2011 June 2011 CIF
November 2011 November 2011 December 2012
May 2012 May 2012 June 2013
November 2012 November 2012  December 2013
May 2013 May 2013                            December 2014

 

The latest CTF and SCF Trustee reports are now available on the Trustee website for Financial Intermediary Funds (www.worldbank.org/fiftrustee) along with trending reports and other helpful resources.

The website, launched on October 31, 2011, disseminates for each FIF (i) financial information and trend analysis; (ii) scheduled reports; (iii) financial statements; and (iv) links to helpful resources. Future plans include the addiciton on interactive capabilities to retrieve, filter, and download 'real-time' financial information and run analytical reports.