News

CIF Meetings Conclude

19 March 2010: The Climate Investment Funds (CIF) held several back-to-back meetings from 15-19 March 2010, in Manila, the Philippines, hosted by the Asian Development Bank (ADB), where plans were unveiled to mobilize some US$40 billion for country-led low carbon growth.

The CIF Clean Technology Fund (CTF) now has 13 plans in place around the world, and some US$4.3 billion of CTF co-financing allocated to projects ranging from solar power development to the greening of public transport systems. It is estimated that an additional US$36 billion will be leveraged in the coming years from other sources, including the private sector, bringing the total to be mobilized to US$40 billion.

The series of meetings included a meeting of the CIF Partnership Forum, on 18-19 March 2010, which gathered 400 participants representing governments, non-governmental organizations (NGOs), intergovernmental organizations, indigenous peoples and the private sector. The Forum was preceded by meetings of the: CTF and Strategic Climate Fund (SCF) Trust Fund Committees; Pilot Program on Climate Resilience (PPCR) pilot countries and CTF countries; and PPCR, Scaling Up Renewable Energy Program in Low Income Countries (SREP) and Forest Investment Program (FIP) Sub-Committees. Also prior to the Forum, an NGO roundtable, organized by the NGO Forum on the ADB, was convened, with participation of multilateral development banks representatives. In addition, Stakeholder Forum organized a lunch event to provide stakeholder representatives an opportunity to present their expectations for the Forum. [IISD RS Coverage of the Forum] [World Bank Press Release]