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The Climate Investment Funds (CIF) have proven that they can generate robust financial leverage. As of September 30, 2010, thirteen contributor countries pledged more than $6.4 billion.
In terms of leveraging power, every $1 invested in the Clean Technology Fund is projected to attract $8 in co-financing from development partners. This means that an additional $35 billion will be leveraged on a $4.4 billion investment, with 30 percent from the private sector. In terms of climate impact, work under the Clean Technology Fund is expected to help reduce approximately 1.5 billion tons of greenhouse gas emissions over the next years. This is roughly comparable to a third of the annual emissions of the European Union, or all of the annual emissions of Sub-Saharan Africa.
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