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Clean Technology Fund (CTF) of Climate Investment Funds (CIFs)

The USD 5.5 billion CTF was established in 2008 to provide emerging economies with scaled-up financing (loans, subordinated debt, equity investments, guarantees and grants), through six partner MDBs, to contribute to the demonstration, deployment, and transfer of low-carbon technologies with a significant potential for long-term greenhouse gas (GHG) emission savings. As the only mitigation-focused multilateral fund built around the operating model of the MDBs, CTF’s MDB-collective model is designed to take full advantage of MDBs’ key strengths, as well as their ability to leverage capital to attract large volumes of finance from both public and private sources. Some of its key features include its ability to provide resources at scale, emphasis on private sector engagement, innovative financial instruments and a flexible programmatic approach.

Support provider

9 donor countries: Australia, Canada, France, Germany, Japan, Spain, Sweden, UK, US

Purpose of support

Project and program implementation

Eligible countries and regions

Recipient countries may benefit from the Facility provided they:

meet Official Development Assistance (ODA) eligibility criteria according to OECD/DAC guidelines;
have an active MDB country program (for this purpose, an “active” program means that an MDB has a lending program and/or on-going policy dialogue with the country).

Eligibility criteria

Sectoral, sub-national, regional, and national entities seeking funding for large-scale projects that focus on the power sector, transport sector, or energy efficiency may be eligible. Additionally, dedicated private sector programs (DPSP) provide dedicated funding windows of the CTF that finance large-scale private sector projects in clean technology.

The CTF uses the following criteria to assess and prioritize the proposed pipeline of programs and projects, with a view to maximizing the impact of CTF resources:

(a) Potential for GHG Emissions Savings
(b) Cost-effectiveness
(c) Demonstration Potential at Scale
(d) Development Impact
(e) Implementation Potential
(f) Additional Costs and Risk Premium

See here for further details on Investment Criteria for Public Sector Operations

See here for further details on investment criteria for private sector operations.

Financial instruments

Grants, Contingent grants, Concessional loans, Market-rate loans, Equity, Guarantees

Co-financing requirements (if applicable)

CTF investments should leverage additional financial resources, including from the private sector where feasible. Co-financing from the CTF may be provided through a variety of financing instruments utilized by the MDBs for investment and development policy lending.

Average time for accessing the source

Varies depending on the nature of the project. Large infrastructure projects typically take a longer time to become operational compared to others such as those involving efficiency improvements that have shorter timelines.

Decision-making information

The CTF contains a CTF Trust Fund Committee, and MDB Committee, a Partnership Forum, an Administrative Unit, and a Trustee.
The CTF is governed by the Trust Fund Committee, which is composed of eight representatives from donor countries and eight representatives from eligible recipient countries. These representatives serve two-year terms. The Committee is also made up of one representative of a recipient country under consideration for a project, one senior representative of the World Bank, and one representative of the MDBs (rotating across MDBs).
The MDB Committee was established to facilitate collaboration, coordination, and information exchange among the MDBs.
The Partnership Forum is a broad-based meeting of stakeholders of the CIF and provides an opportunity for independent scientific, technical, and other advice on implementation issues.
The Administrative Unit facilitates the CIF's work, the Trust Fund Committee, and other committees. It is housed in the World Bank Group’s Washington, D.C. offices.
The Trustee is the International Bank for Reconstruction and Development (World Bank).

Monitoring and reporting procedures

The results reported for CTF are based on the CTF Revised Results Framework , which includes the core indicators measured at the project level and reported on annually. Each project and program is also required to identify and report on at least one indicator for a development co-benefit. It may include, but is not limited to, access to energy or health and employment co-benefits, preferably disaggregated by gender.

The MDBs collect results data on an annual basis following the CTF Monitoring and Reporting Framework and using a template provided by the CIF Administrative Unit. The template lists indicators for projects and programs approved by the corresponding cut-off date for reporting. The MDB completes these by July 31 each year. The data are then collated, clarified, analyzed, and presented in the Results Report.

Steps to access

Countries are selected by MDBs based on their potential to achieve transformative change in the clean technology field and are then subject to scoping. Country then prepares investment plan which is subject to endorsement by the relevant CIF Trust Fund Committee. The Trust Fund Committee then can approve individual projects or programs under the investment plan. The relevant implementing MDB(s) must then approve the projects or programs through their own processes.

MDB Outreach

Preliminary Review of Country

Investment Plan

Project Approval

Implementation

Climate objective

Mitigation

Sectors and themes

Energy efficiency, Renewable Energy, Transportation

Type of support provider

Multilateral

Type of recipient

Public entity at the national level, Public entity at the sub-national level, Public entity at the regional level, Private sector

Fund size

Cumulative pledges: USD 5.5 billion

Co-financing required

Yes

Application timeframe

Investment Plan preparation, submission and approval may take up to 2 years.

Project preparation, submission and approval by the FIP sub-committee maximum 2 years.

Trustee or administrator

World Bank

Contact information

https://www.climateinvestmentfunds.org/topics/clean-technologies

cifadminunit@worldbank.org

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Clean Technology Fund (CTF) of Climate Investment Funds (CIFs)