Gender Dimensions of the Climate Investment Funds

The evolving family of Climate Investment Funds (CIF) comprises international investment instruments designed to offer interim funding to support developing countries’mitigation and adaptation efforts. Jointly established by The World Bank and regional multilateral development banks, the Funds were designed by a range of stakeholders, including developed and developing countries, United Nations agencies, the Global Environment Facility, non-governmental organizations, indigenous peoples and the private sector. An objective of the CIF is to bolster efforts for sustainable development and poverty reduction by scaling-up projects and increasing the speed of their implementation. The CIF also aim to show that strategic financing can have positive impacts on both climate and development. Thus, a key feature of the CIF is providing funding that allows developing nations to incorporate low-carbon programmes into their national development plans.Currently, the CIF consists of two main funds: the Clean Technology Fund and the Strategic Climate Fund. To date, donor countries have pledged approximately $4.5 billion and $1.9 billion, respectively, to the funds.

The Clean Technology Fund (CTF) is expected to support between 15 and 20 countries or regional investment plans that meet the criteria of significant greenhouse gas emissions savings and demonstrable potential for scale, fast-track
implementation and development impact. The CTF invests in low-carbon development programmes that reduce greenhouse gas emissions, mainly in the energy and transportation sectors. In addition to the pledged funding, the Clean Technology Fund is expected to generate an additional eight dollars in co-financing for every one dollar pledged.