Climate Investment Fund

Climate Investment Fund Latest News

Recently, during COP 30 of UNFCCC, Germany and Spain announced a $100 million commitment for the Climate Investment Fund’s (CIF) new programme called Accelerating Resilience Investments and innovations for Sustainable Economies (ARISE).

About Climate Investment Fund

• It was launched in 2008.
• It is a multilateral climate fund that enables climate action in over 70 low and middle income countries.
• Purpose: The purpose of CIF is to finance comprehensive measures for climate change mitigation and adaptation in developing and emerging economies. 
  • CIF deploys highly concessional finance to empower transformations in clean technology, energy access, climate resilience, nature-based solutions, and other areas.
• CIF comprises two funds: the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
• It is the only climate fund working exclusively through six AAA-rated multilateral development banks (MDBs) namely;
  • Asian Development Bank, African Development Bank, European Bank for Reconstruction and Development, Islamic Development Bank International Finance Corporation and World Bank
• Governance: The Clean Technology Fund (CTF) Trust Fund Committee is the decision-making body responsible for determining and overseeing the operations and activities of the fund.
• In 2024, CIF became the first multilateral climate fund to list bonds on the capital markets, with the CIF Capital Markets Mechanism (CCMM). 
• Secretariat: The CIF Secretariat is hosted by the World Bank.

Source: ET

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