Inter-American Investment Corporation (IIC) of the Inter-American Development Bank (IDB)
The fund catalyzes private sector investments in climate change mitigation and adaptation across Latin America and the Caribbean.
On a rolling basis
To access co-financing from C2F, a project must demonstrate:
• Climate benefits – All projects must have climate change benefits; either mitigating climate change or reducing specifically identified climate vulnerabilities, including projected greenhouse gas emission reductions.
• Financial additionality – Applicants must demonstrate that co-financing loans on concessional terms from the Canadian Climate Fund is necessary for a project to be viable.
C2F resources will be allocated on a case-by-case basis. The type, amount and terms of C2F investment offered will be determined through an analysis of the cost and risk barriers to the project.
Overall, C2F will prioritize projects that:
• Go beyond business-as-usual
• Do not meet required hurdle rates without the fund’s concessional investment
• Have risks that prevent attracting sufficient financing from other sources.
Applications can be requested through this site: http://www.iic.org/en/c2f/how-apply
The IDB’s Structured and Corporate Finance Department (SCF) is responsible for the management and reporting of the Fund. Tracking and reporting of results is important to Canada and the feasibility of measuring these benefits will be a factor in project selection.
Projects may be considered for IDB financing if: a) they contribute to the development of an IDB borrowing member country, b) the majority of the borrower’s voting shares are owned by entities from IDB member countries, c) are financially and technically viable, and d) comply with the IDB’s environmental and social requirements. After eligibility is granted, the IDB signs a mandate letter and proceeds to carry out due diligence (technical, environmental, market, legal, financial, integrity).