CIF Approves Forest Funding for Peru and Energy Access in Liberia
30 October 2013: The Climate Investment Fund (CIF) Sub-Committee Meetings concluded with endorsement of the final pilot country plan from Peru for $50 million under the Forest Investment Program (FIP), and the endorsement of Liberia's $50 million investment plan under the Scaling Up Renewable Energy Program in Low Income Countries (SREP), a targeted program of the Strategic Climate Fund (SCF). The FIP also approved $16.45 million to support forest and climate information gathering and systematization in Brazil.
The investment in Peru is intended to support the pilot country plan, which was developed in close collaboration with a broad range of stakeholders and is unique in the extent to which it is supported by indigenous peoples. In Liberia, funding will support off-grid energy access and the development of renewable energy as a contribution to the national goal of achieving 35% electrification rate.
In Brazil, funding will support the dissemination of forest information to public and private sector organizations in order to enhance carbon sequestration in forests. The investment will target forests in the Cerrado region, which contains the largest tropical savanna ecosystem in Brazil.
The semi-annual Trust Funds Committees meetings also endorsed more than USD 285 million for private sector initiatives in clean technology and energy, climate change adaptation and forest investments.
Finally, at the meetings, 15 project concepts, totaling over $135 million, were endorsed for further preparation by the multilateral development banks and full CIF funding approval in 2014. These include five forest-related initiatives in FIP pilot countries Brazil, Burkina Faso, Ghana, and Mexico; four renewable energy projects in SREP pilot countries Honduras, Kenya, Mali, and Nepal; and six projects for climate resilience in PPCR pilot countries Haiti, Jamaica, Mozambique, Saint Lucia, and Tajikistan.
CIF Trust Fund Committee and Sub-Committee Meetings took place from 28 October-1 November 2013, in Washington DC, US. [Climate Investment Fund Press Release, 1 November 2013] [CIF Press Release on Peru's FIP Investment Plan] [Inter-American Development Bank Press Release] [SREP Investment Plan for Liberia] [IADB Press Release]