Climate Investment Funds
Driving down technology costs
Bridging financing gaps
Innovating private sector finance
Beginning date: 2008
Cumulative pledges: $5.6 billion
FY14 Disbursement: $835 million
African Development Bank
Asian Development Bank
European Bank for Reconstruction and Development
Inter-American Development Bank
Countries are selected and subject to scoping and technical missions. 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.
The CTF is governed by a Trust Fund Committee. Each Trust Fund Committee is composed of equal representation from contributor and recipient countries. A MDB Committee was established to facilitate collaboration, coordination, and information exchange among the MDBs. The Administrative Unit facilitates the work, and it is housed in the World Bank Group’s Washington, D.C. offices.
Each MDB will report annually to the CTF Trust Fund Committee for monitoring and evaluation conducted by the MDB in accordance with its procedures. An independent evaluation of the operations of the CTF and the impacts of its activities will be carried out jointly after three years of operations by the independent evaluation departments of the MDBs.
Countries must be ODA-eligible and have an active country program with the World Bank, the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development or the Inter-American Development Bank.