Cumulative pledges: USD 5.8 billion
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.
To obtain specific multilateral development banks or country focal points information: CIFsecretariat@cif.org.
For general inquiries that do not entail funding requests: CIFcommunications@worldbank.org.
For media inquiries only: CharlotteGrant@cif.org.
The Clean Technology Fund (CTF) is part of the CIF, which were originally designed with a ‘sunset clause,’ stipulating that operations would wind down once a new financial architecture under the UNFCCC, such as the Green Climate Fund (GCF), became fully operational. The clause allows for any remaining CTF funds to be transferred to a fund with similar objectives. However, given ongoing demand, a strong implementation track record, and the complementary role of the CIF alongside the GCF, the CTF continues to operate with new programming approved by its governing body. As of now, there is no active plan to implement the sunset clause or transfer remaining funds.
The CTF promotes scaled-up financing for the demonstration, deployment, and transfer of low-carbon technologies with strong potential for long-term greenhouse gas emissions reductions. Its objectives include:
- Provide positive incentives, through public and private sector investments, for the demonstration of low carbon development and mitigation of greenhouse gas emissions
- Fund low carbon programmes and projects that are embedded in national plans and strategies, scaling up development and accelerating the diffusion and transfer of clean technologies
- Realise environmental and social co-benefits, illustrating the potential for low-carbon technologies in contributing to sustainable development and the Millennium Development Goals
- Support international cooperation on climate change
- Utilise skills and capabilities of the MDBs to raise and deliver new and additional resources, including official and concessional funding, at significant scale
- Share experiences and lessons learned in responding to climate change challenges.
Australia, Canada, France, Germany, Japan, Spain, Sweden, UK, US
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.
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.
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).
The Clean Technology Fund is available to middle-income and developing countries.
To access CTF resources, countries must meet the following conditions:
- Be ODA-eligible, as defined by OECD-DAC
- Have an active country programme with a participating MDB
- Show potential for significant greenhouse gas emissions reduction
- Demonstrate government commitment to low-carbon development pathways
See here for further details on Investment Criteria for Public Sector Operations and here for further details on investment criteria for Private Sector Operations.
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).
All CIF funds have been fully committed. Information on CIF Beneficiary Countries can be found here.
Activities supported by the CTF include projects and programmes within the following sectors:
- Power Sector: renewable energy and highly efficient technologies to reduce carbon intensity
- Transport Sector: efficiency and modal shifts
- Energy Efficiency: buildings, industry, and agriculture.
Programming options include programmes and large-scale projects at:
- Sectoral or sub-sectoral levels in a given country
- Sub-national levels, focusing activity on particular provinces/states/municipalities
- Regional levels, particularly where regional cooperation is required.
Additionally, there are options for private sector engagement or public-private partnerships. The Dedicated Private Sector Programs (DPSP) provides capital to finance high-impact, large-scale private sector projects in clean technology.