Climate Investment Funds

Established in 2008, the Climate Investment Funds (CIF) is a multilateral climate fund that enables climate action in over 70 low- and middle-income countries. CIF deploys concessional finance to empower transformations in clean technology, energy access, climate resilience, nature-based solutions, and other areas.

A core strength of CIF’s business model is its flexible, country-led programmatic approach and multilateral development bank (MDB) partnership model. CIF is the only multilateral climate fund to work exclusively with MDBs as implementing entities - IFC is one of six MDBs that can access CIF funds to implement projects. Through its blended finance practice, IFC co-invests concessional funding provided by CIF alongside its own funds. The CIF-IFC blended finance partnership is focused on responding to the growing demand for climate change solutions and supporting the deployment and testing of climate mitigation and adaptation projects through the private sector, meeting the need for critical climate interventions around the world.

CIF comprises two umbrella funds, namely, the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).

Priority Areas

Clean Technology Fund

CTF supports projects and programs within the renewable energy, energy efficiency, clean transport, and municipal finance sectors, as well as other emerging clean technologies. IFC deploys CTF funds to target three types of private sector players:

1.    project sponsors (e.g. developers of clean technologies or large companies implementing new technologies);

2.    investors in climate mitigating projects (banks, pension and equity funds, insurance companies, etc.); and

3. Financial intermediaries developing new lines of credit for climate change investments (banks, leasing companies, ESCOs, etc.)

The pricing and terms of CTF funds offered to private sector clients are structured on a case-by-case basis to address the specific barriers identified in each project. A full spectrum of financing instruments is available, ranging from blended concessional finance to advisory/technical services.

Strategic Climate Fund

SCF provides financing to pilot innovative approaches and to scale-up activities aimed at specific climate change challenges or sectoral responses. The fund serves as an overarching framework that provides financing through several programs, namely Scaling up Renewable Energy Program; Forestry Investment Program; Pilot Program for Climate Resilience; Renewable Energy Integration Program; and Nature, People and Climate Program.

SCF Program Snapshot: Scaling Up Renewable Energy Program in Low-Income Countries

The Scaling Up Renewable Energy Program in Low-Income Countries (SREP) supports low-income countries in deploying renewable energy solutions to expand energy access and drive sustainable development. By providing concessional funding to support innovative delivery models, SREP helps demonstrate the viability of technologies such as solar, wind, and geothermal. These efforts reduce fossil fuel dependence, lower GHG emissions, and create economic opportunities in underserved communities, aligning with IFC’s commitment to advancing clean energy solutions and creating jobs.

Featured Projects:

• Abydos Solar, Egypt’s First Battery Energy Storage System to Boost Energy Security
• IndiGrid BESS, Building India’s Largest Utility-Scale Energy Storage Project
• GNG Wind Volyn, Boosting Ukraine’s Energy Security Through Private Wind Project
• Órigo Energia, IFC’s First Distributed Generation Project Financing in Latin America and the Caribbean
• Kairouan Solar, First Large-Scale Privately Financed Solar Project in Tunisia