Climate Investment Funds

The Climate Investment Funds (CIF) are a collaborative effort among the Multilateral Development Banks (MDBs) and countries to bridge the financing and learning gap between now and a post-2012 global climate change agreement. Designed through extensive consultations, the CIF are governed by balanced representation of donors and recipient countries, with active observers from the UN, GEF, civil society, indigenous peoples and the private sector.

• The CIF are comprised of two Trust Funds viz., Clean Technology Fund (CTF) and Strategic Climate Fund (SCF).
• CTF promotes investments to initiate a shift towards clean technologies, whereas SCF serves as an overarching framework to support targeted programs with dedicated funding to pilot new approaches with potential for scaled-up, transformational action aimed at a specific climate change challenge or sectoral response.
• Government of India has agreed in principle to access Climate Investment Funds. In the process of accessing these Funds, Climate Investment Plan (CIP) of India has been endorsed in the Trust Fund Committee meeting held on 4 November, 2011.

India’s Investment Plan which contained four proposed projects has been approved. Since all the funds under the CTF have already been pledged, projects under India’s Investment Plan will be funded from additional resources as and when made available by the donors.