Climate Investment Fund (CIF)
Overview of the Climate Investment Fund (CIF)
Background
To strengthen the catalytic role of the United Nations Framework Convention on Climate Change (UNFCCC) regime in encouraging multilateral bodies to support adaptation and mitigation in a coherent and integrated way, the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, International Bank for Reconstruction and Development (IBRD), International Development Association (World Bank), and International Finance Corporation (collectively, the Multilateral Development Banks (MDBs)) are actively pursuing ways to increase the availability of innovative financing through existing and new instruments and to accelerate the access of developing countries to carbon finance.
The World Bank, in consultation with the other MDBs, proposed establishing the CIF.
In 2008, MDBs, developed and developing countries, and other development partners reached an agreement regarding the establishment of the CIF.
CIF has two funds. One is the Climate Technology Fund (CTF) to support mitigation, and the other is the Strategic Climate Fund (SCF) to support adaptation.
Objective
To scale up mitigation and adaptation action in developing and middle-income countries
Overview of SCF Funding
(1) Eligible Applicant
Objective: To provide financing to pilot new development approaches or scale-up activities aimed at a specific climate change challenge or sectoral response
- Recognizing that UNFCCC deliberations on the future of the climate change regime include discussions on a future financial architecture and funding strategy for climate change, the CIF will be an interim measure designed for the MDBs to assist in filling immediate financing gaps.
Eligible countries: Developing countries
Eligible applicant: Mainly governmental organizations in developing countries and private entities
(2) Support Program
Pilot Program for Climate Resilience: To support scaled-up action and transformational change in integrating the consideration of climate resilience in national development planning consistent with poverty reduction and sustainable development goals
Forest Investment Program: To support the reduction of deforestation, forest degradation, and promotion of improved sustainable forest management, leading to emission reductions and the protection of carbon reservoirs
Renewable Energy Program: To support investments in low-income countries for energy efficiency, renewable energy, and access to modern sustainable energy
(3) Size of Support
- There is no rule.
Apply for AF Funding
An applicant needs to consult with the MDBs (*), which are the implementing agencies of the CIF to formulate projects.
Approval Criteria
- The interest of multiple donors in establishing an SCF Program;
- broad applicability of lessons to be learned;
- sufficient resources to finance activities at scale;
- complementary to other multilateral financial mechanisms or initiatives; and
- act as a link between climate change and development.
Forms
It is necessary to contact the implementing agencies of the CIF to confirm which forms should be completed.
Approved Project List
Reference
- Governance Framework for the Strategic Climate Fund (Adopted November 2008 and amended December 2011)
- Website of Climate Investment Fund
Approved CIF projects list
