Climate Investment Funds (CIF)
The AfDB is serving as an implementing agency of the Climate Investment Funds (CIF). Established in 2008 as one of the largest fast-tracked climate financing instruments in the world, the US $8.3 billion CIF gives developing countries worldwide an urgently needed jump-start toward achieving low-carbon and climate-resilient development.
The CIF provides developing countries with grants, concessional loans, risk mitigation instruments, and equity that leverage significant financing from the private sector, multilateral development banks, (MDBs) and other sources.
As part of the AfDB’s commitment to supporting Africa’s move toward climate-smart development, it is helping to expand access to international climate change financing.
The Climate Investment Funds include four key programs:
- Clean Technology Fund (CTF)
- Forest Investment Program (FIP)
- Pilot Program Climate Resilience (PPCR)
- Scaling Up Renewable Energy Program (SREP)
AfDB-CIF Portfolio. Number of approved projects
A third of CIF's US $8.3 billion goes to Africa. With CIF support, AfDB currently finances 39 investment plans in 27 countries and 1 region to transform their economies through renewables, sustainable transport, climate resilience and sustainable forest solutions. As of December 2018, AfDB has approved 22 projects for $2.5 billion (AfDB $1.8 billion, CIF $0.7 billion).
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Latest news
- 20/06/2019 MDB climate finance hit record high of $43.1 billion in 2018
- 19/03/2019 Semaine malienne des énergies renouvelables : Le Mali sur la voie d’un avenir énergétique prometteur
- 13/03/2019 La Banque africaine de développement appuie la région du Sahel pour la mobilisation des ressources en faveur de la résilience face aux changements climatiques
- 21/02/2019 Investir durablement dans l’avenir énergétique du Mali
- 08/02/2019 Climate Investment Funds holds its ten-year anniversary summit at the world’s largest solar plant in Morocco