Climate change is a major risk to good development outcomes, and the World Bank Group is committed to playing an important role in helping countries integrate climate action into their core development agendas. IFC began using blended concessional finance in 2005 to help investors manage the higher risks or uncertainties associated with new, unproven technologies or first-of-their kind projects.
To make progress on the climate agenda, at a scale that is needed in a narrowing window of opportunity, private sector participation is essential. IFC has a proven track record of mobilizing and intermediating concessional finance through successful partnerships that work toward the transition to a low-carbon future.
As the largest development finance institution supporting the private sector in emerging markets, IFC is uniquely positioned to build new markets for climate business. Since fiscal year 2005, IFC has provided more than $28 billion in long-term financing for climate-related projects, in addition to $22.3 billion mobilized from other investors. Moving forward, IFC will continue to focus on its five key sectors—building momentum in clean energy, green buildings, climate-smart agribusiness; smart cities and green finance.
Read more about IFC’s Climate Business.