CIF Reports US$8 Billion in Pledges
18 February 2014: The 2013 Annual Report of the Climate Investment Funds (CIF), titled 'Rooted in Learning, Growing with Results,' discusses CIF projects and programmes, private sector engagement and measuring results. It also includes an in-depth analysis of, and lessons learned from, the Forest Investment Program (FIP).
The report indicates that 48 pilot countries are moving from the investment and planning phase to implementation in the CIF areas of clean technology, renewable energy, sustainable forest management (SFM) and climate resilience, with 75 projects and programmes (about 32% of the CIF portfolio) approved thus far by multilateral development banks (MDBs). With additional contributions in 2013, the total amount pledged to the CIF, now in its fifth year, has reached US$8 billion, leveraging approximately US$55 billion, and thus providing further opportunities to “test the flexibility and reach of climate financing models.”
More specifically, the report elaborates on progress made in: increasing disbursements as countries move into project implementation, in particular with the Climate Technology Fund (CTF) reaching a record-high disbursement amount of US$322 million; meeting the growing demand for CIF-supported climate knowledge; implementing the CIF communications strategy to complement and support knowledge-based learning; advancing monitoring and reporting of results; enhancing transparency; expanding private sector engagement; and mainstreaming gender in CIF programming.
The report describes that, in 2014, the CIF expects increased activity in, inter alia: maintaining momentum regarding project and programme submissions, approvals and launches; ensuring the upward trend in disbursement rates continues; attaining the first full set of annual results reporting for the four funding windows, which are the CTF, the Scaling Up Renewable Energy Program (SREP), the Pilot Program for Climate Resilience (PPCR) and the FIP; initiating the process of identifying new SREP pilot countries; launching the CIF risk management framework; sharing the findings and considering recommendations of the independent CIF evaluation; and garnering private investors through new financing options and measuring their effectiveness. In addition, some 400 participants are expected to attend the 2014 CIF Partnership Forum in Jamaica in June 2014. [Publication: 2013 CIF Annual Report] [CIF Annual Report Website] [CIF Website]