Since the CIF was established in 2008, 14 donor countries have contributed over $8 billion in support of scaling up mitigation and adaptation action in developing and middle-income countries. These precious public resources are held in trust by the World Bank, and they are disbursed as grants, highly concessional loans, and risk mitigation instruments to recipient countries through multilateral development banks (MDBs).
The CIF is the only multilateral climate fund to work exclusively with MDBs as implementing agencies. This ensures due diligence and high standards, and the CIF benefits from the banks’ ability to leverage financing, mobilize other actors, and harmonize policy support. The CIF, in turn, facilitates cooperation among MDBs, which benefits recipient countries, climate-friendly market growth, and the MDBs themselves.
Donor Country Contributions
*Represents realized amounts plus unrealized amounts valued on the basis of exchange rates as of June 30, 2015.
In accordance with the governance framework of the CTF and SCF, the CIF Trust Fund Committees and Sub-Committees have the authority to allocate resources, while the World Bank’s International Bank for Reconstruction and Development (IBRD) serves as the CIF Trustee charged with fiduciary responsibilities. As implementing agencies, the MDBs use CIF funds transferred by the Trustee in accordance with their own fiduciary framework, policies, guidelines, and procedures.
The MDBs provide periodic financial reports to the CIF Trustee and Trust Fund Committees, and the CIF Administrative Unit prepares a periodic disbursement report. The Trustee provides regular reports on the CIF’s financial status to the Trust Fund Committees. Trustee reports are available on the World Bank Financial Intermediary Funds Portal along with financial statements, annual independent audit reports, trending reports, and other helpful resources.
MDB partners work with recipient countries to maximize CIF investments: African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, World Bank Group, including International Finance Corporation