The IFC-Canada Climate Change Program,
established in 2011, is a partnership between the Government of Canada and IFC
to promote private sector financing for clean energy and climate adaptation projects,
through the use of concessional funds to catalyze investments in low-carbon technologies
that would not otherwise happen.
The program received CA$291.6 million from the Government of Canada. An additional CA$60.3 million were contributed by the Government of Canada in 2013 specifically for investment in the IFC Catalyst Fund.
The program’s funds, at concessional, or below-market terms, are co-invested alongside IFC’s own funds to enable climate change projects that would not otherwise happen, due to market barriers preventing the private sector from making those investments. The goal is to demonstrate the viability of a particular type of project, so that the follow up projects can be financed on fully commercial terms.
A portion of the program funds is also used to support advisory services work to build local capacity, fill information gaps in the market, and enable countries to adopt regulatory and business environments that encourage private sector investment in a low-carbon future.
Status of the Program:
The investment period of the IFC-Canada Climate Change Program has ended.
The most recent IFC-Canada Climate Change Program report provides an overview of the program’s activities and results up to June 30, 2019.
IFC is pleased to continue its blended finance partnership with Canada with two new climate initiatives: the Canada-IFC Blended Climate Finance Program and the Canada-IFC Renewable Energy Program for Africa.