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The Clean Technology Fund (CTF), one of two Climate Investment Funds, promotes scaled-up financing for demonstration, deployment and transfer of low-carbon technologies with significant potential for long-term greenhouse gas emissions savings. It is expected that the CTF will finance programs in 15 to 20 countries or regions.
What kind of programs does the CTF promote?
- Power Sector: Renewable energy and highly efficient technologies to reduce carbon intensity
- Transport Sector: Efficiency and modal shifts
- Energy Efficiency: Buildings, industry, and agriculture
How does the CTF aim to finance transformational actions?
- Providing positive incentives for the demonstration of low carbon development and mitigation of GHG emissions. This will be done though public and private sector investments;
- Scaling-up development through funding low carbon programs and projects that are embedded in national plans and strategies. In this way, the diffusion and transfer of clean technologies will be accelerated;
- Realizing environmental and social co-benefits. This will illustrate the potential held by low-carbon technologies to contribute to the goals of sustainable development and the Millennium Development Goals (MDGs);
- International cooperation on climate change and supporting agreement on the future of the climate change regime;
- Utilizing the skills and capabilities of the Multilateral Development Banks (MDBs) to raise and deliver new and additional resources. These will include official and concessional funding, at significant scale; and
- Sharing experiences and lessons learned while responding to the challenges of climate change.
Which countries can access CTF funds?
To be eligible for CTF funding a country must:
- be ODA eligible
- have an active MDB country program
When a country expresses interest in accessing CTF financing, the MDBs concerned will conduct a joint mission involving other relevant development partners. MDBs will engage with government officials, private industry and other stakeholders on how the fund may help finance scaled-up, low carbon activities in the given country. An investment plan will be designed under the leadership of the recipient country.
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