Cif@10 - Celebrating 10 Years of Climate Action

28 January 2019
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African Development Bank (Abidjan)

Ouarzazate, Morocco — The year 2018 marked the 10th anniversary of the Climate Investment Funds (CIF), one of the largest funds in the world for climate-smart investments, across more than 300 projects in 72 middle-income and developing countries.

The US$ 8 billion fund provides concessional financing from multiple sources to fight climate change through a flexible business model that seeks to develop capacity in renewable and efficient energy, sustainable transport, climate resilience and sustainable forest management. The fund adopts an inclusive governance model with equal representation of developing countries, donor countries, civil society and indigenous communities.

Over the past decade, major strides have been made in bringing low-carbon, climate resilient investments to developing countries. However, there are many challenges. Hundreds of millions of people remain without power; while the world's most vulnerable require billions of dollars in investments to prepare them for climate challenges on the horizon.

After 10 years as a key player in the international climate finance architecture, CIF is well placed to convene a dialogue looking back on the previous 10 years of groundwork in the sectors, and the challenges - and opportunities, for future climate action.

"Power of 10: Shaping the Future of Climate Action," will be held from January 28 - 29 2019, in Ouarzazate, Morocco, followed by the CIF Trust Fund Committee and Sub-Committee meetings and associated meetings.

The African Development Bank continues to act as a CIF implementing entity and partner of choice, advancing a growing portfolio of projects in renewable energy, forestry, and resilience solutions across the four CIF programs: Clean Technology Fund (CTF); Scaling Up Renewable Energy Program in Low Income Countries (SREP); Forest Investment Program (FIP); and Pilot Program For Climate Resilience (PPCR).

For information:

Sonia Borrini, CIF Communications and Knowledge Management Specialist, Climate Change and Green Growth Department, African Development Bank - s.borrini@afdb.org - 00225 56612127

Read the original article on African Development Bank (AfDB).

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