Between 2018 and 2022, the UKSIP approved technical assistance of more than US$18 million.
The UK Sustainable Infrastructure Program (UK SIP) mobilizes strategic private sector investments in sustainable low carbon infrastructure, supporting countries in LAC to deliver their Nationally Determined Contributions (NDCs) to the Paris Agreement.
UK SIP is part of IDB's NDC Invest Platform, a one-stop shop of the IDB Group to help countries access resources needed to translate national climate commitments into investment plans and bankable projects. NDC Invest is a platform that includes the entire universe of financial and non-financial instruments of the IDB Group, and it is comprised of four elements: NDC Programmer, NDC Pipeline Accelerator, NDC Market Booster and NDC Finance Mobilizer. Together, the components aim to enable progress toward both the NDC and IDB lending objectives, as well as toward achievement of the UN Sustainable Development Goals.
IDB (Climate Change Division) is responsible for coordination of country dialogues to ensure use of funds is aligned to government priorities. There is also strong buy in from public and private stakeholders. IDB (Climate Change Division) also coordinates programming of funds for public sector technical cooperation activities. IDB Invest's Advisory Servieces team (blended finance team and climate advisory team) are responsible for managing funds for private sector investments and technical cooperation for the private sector.
The Fund resources may finance operations targeted to promote private investments in the following sustainable low carbon infrastructure sectors:
- Renewable energy (excluding large hydro);
- Transmission and distribution networks for renewable energy;
- Lower-carbon and efficient energy generation (excluding thermal generation);
- Energy efficiency (excluding for high carbon industries);
- Non-energy GHG reductions (Industrial processes only);
Support is also available for cross-cutting issues related to sustainable infrastructure investment, such as sustainable infrastructure planning, policy and regulatory reform, or capacity building and market creation activities.
Technical cooperation is only available for the public sector, while the private sector is able to access the fund for both technical cooperation and investments.
UK SIP is currently working with the Inter-American Development Bank to focus on priority climate partnership countries in Latin America (Brazil, Colombia, Mexico & Peru).