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Press Release | Nov 12 2015

FOR IMMEDIATE RELEASE – November 12th 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Mongolia and the Climate Investment Funds are today celebrating the endorsement of that country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP) 

The SREP funding of $30 million (USD) will be used for projects to support a switch to renewable energy in remote rural areas.

Mongolia’s energy goals include that 20% of increasing power capacity come from renewable sources by 2023 and 30% by 2030.

Senior SREP Coordinator Zhihong Zhang says: “SREP will support the Government of Mongolia to achieve its ambitious target of 20% renewable energy by 2023 and 30% by 2030. 

“SREP investments will benefit particularly people living in the remote rural areas with access of electricity by using indigenous solar and wind resources.  It will also support the Government to strengthen renewable energy regulations and lay the foundation for private sector involvement in the renewable energy sector.”

Mr. Myagmar Angarag, Head of Renewable Energy Division, Mongolia Ministry of Energy, says:

“The SREP Investment Plan will help to increase energy independence of Mongolia.

“The installation of 25 MW RE capacity in the Western Energy System (WES) will improve clean energy access to around 20,000 households, promoting economic development and benefitting SMEs.

“The solar-wind hybrid project in WES potentially triggers Renewable Energy (RE) development in hundreds of megawatts with huge reduction impact on CO2 emissions from coal based power generation.”

About the Climate Investment Funds 

  • The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:

  • The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries. 

  • The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.

  • The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).

  • The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.

    About Zhihong Zhang

    Zhihong Zhang is Senior Program Coordinator at the Climate Investment Funds Administrative Unit, overseeing the Clean Technology Fund and the Program for Scaling up Renewable Energy in Low Income Countries.  

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Press Release | Nov 11 2015

At its governing body meetings this week, the Climate Investment Funds (CIF) endorsed Uganda’s far-reaching Investment Plan (IP) to transform its energy sector by building on its renewables resources including wind, solar, and geothermal, and expanding the spread of sustainable energy throughout the country.

Press Release | Nov 11 2015

At its governing body meetings this week, the Climate Investment Funds (CIF) endorsed Rwanda’s Investment Plan (IP) to significantly develop much-needed off-grid electricity access for households, productive uses, schools, health centres and institutions throughout the country, particularly in rural areas.

In the News | Nov 11 2015

The Climate Investment Funds (CIF) have endorsed Rwanda's renewable energy investment plans under the CIF's dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program (SREP).

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Press Release | Nov 11 2015

FOR IMMEDIATE RELEASE – November 11th 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Uganda and the Climate Investment Funds are today celebrating the endorsement of that country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP) 

SREP funding of $50 million (USD) will help advance geothermal exploration, solar photovoltaic net metering, the building of mini-grids and the development of wind power in the east African country.

Uganda is placing energy at the forefront of its social economic development.  Right now, only 17% of the population has access to electricity.  In rural areas, that figure drops to seven percent.

 “With a population of 35 million, more than 29 million people in Uganda do not have access to electricity,” says SREP senior program coordinator Zhihong Zhang.

The SREP funding endorsed today, he says, “will help tackle this challenge by supporting Uganda in developing indigenous renewable energy resources and will offer opportunities for development even in remote areas of the country.”

“Aside from hydropower, geothermal, solar power and wind all offer lots of potential for Uganda,” he added.

“Ugandans have the potential to change the energy sector in the country and attract investment from other sources in the long-run.”

James Baanabe, Uganda’s Commissioner of the Energy Efficiency and Conservation Department in the Ministry of Energy and Mineral Development says:

“Energy is the driver of social economic development so adequate and reliable renewable energy is vital to our vision of becoming a prosperous country within 30 years.

“Uganda is blessed with a number of renewable energy sources.  SREP will contribute to the development of our renewable energy for the social and economic development of our country.”

About the Climate Investment Funds 

  • The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:

  • The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries. 

  • The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.

  • The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).

  • The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.

About Zhihong Zhang

Zhihong Zhang is Senior Program Coordinator at the Climate Investment Funds Administrative Unit, overseeing the Clean Technology Fund and the Program for Scaling up Renewable Energy in Low Income Countries.  

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Press Release | Nov 11 2015

FOR IMMEDIATE RELEASE – November 11th 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Rwanda and the Climate Investment Funds are today celebrating the endorsement of that country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP) 

SREP funding of $50 million (USD) will help develop financially sustainable long-term markets for the private sector provision of off-grid electricity services in the East African country.

Rwanda is committed to providing electricity access to 70% of the population by 2018 – up from only 23% this year – through a wide range of renewable resources.

Senior SREP Coordinator Zhihong Zhang says, “Rwanda has a very ambitious target of electrification through both on-grid and off-grid solutions. SREP support will target the development of off-grid energy markets to help bring electricity to unserved communities in rural areas, create employment opportunities and generate income.”

 “SREP funding can act as a catalyst,” he says, “and will help improve the enabling environment conditions to unlock and systematically scale-up private investments.”

“About 1.5 million Rwandans are expected to benefit from the SREP program,” he added.

Robert Nyamvumba, Director of the Energy Division from the Ministry of Infrastructure in Rwanda says, “This endorsement will help to unleash the potential of the private sector to provide off-grid energy solutions using renewable energy sources.”

“SREP funding will mean many Rwandans living in rural areas will have access to energy and improve their lives through development activities as well as create an enabling environment for businesses in the communities, he added.

 About the Climate Investment Funds 

  • The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:

  • The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries. 

  • The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.

  • The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).

  • The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.

About Zhihong Zhang

Zhihong Zhang is Senior Program Coordinator at the Climate Investment Funds Administrative Unit, overseeing the Clean Technology Fund and the Program for Scaling up Renewable Energy in Low Income Countries.  

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Press Release | Nov 11 2015

FOR IMMEDIATE RELEASE – November 11th 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Bangladesh and the Climate Investment Funds are today celebrating the endorsement of that country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP) 

SREP funding of $75 million (USD) will focus on grid-connected renewable energy and will include 200 megawatts in utility-scale solar photovoltaic (PV) and grid-connected rooftop solar PV; as well as mini and off-grid solar solutions and advisory support for municipal waste-to-energy projects.

Bangladesh wants to increase electricity access, enhance energy security, reduce poverty and mitigate climate change.

Senior SREP Coordinator Zhihong Zhang says: “SREP funding is expected to mobilize an additional $650 million (USD) in investments to scale up renewable energy development in Bangladesh.”

“These investments have the potential to transform the country’s grid-electricity generation from polluting fossil fuels to clean renewable energy, and provide affordable modern energy to poor households and agricultural areas.”

“Successful projects developed using SREP funds will demonstrate the potential for scaling up projects- and attract other investors to the market,” he added.

Siddique Zobair, Bangladesh’s Joint Secretary of Sustainable and Renewable Energy Development

says, “As one of the world’s most climate-vulnerable countries, we recognize the crucial role renewable energy must play in a low-carbon future.”

“This intervention will positively impact on and help ensure the energy security of Bangladesh,” he added, “Renewable energy is one of the options through which we can take care of the electricity needs of poor communities in rural areas.”

 About the Climate Investment Funds 

  • The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:

  • The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries. 

  • The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.

  • The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).

  • The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.

    About Zhihong Zhang

    Zhihong Zhang is Senior Program Coordinator at the Climate Investment Funds Administrative Unit, overseeing the Clean Technology Fund and the Program for Scaling up Renewable Energy in Low Income Countries.  

Pope Francis to the UN: environmental degradation threatens ‘the very existence of the human species’
In the News | Oct 20 2015

NEW YORK — Before Congress Thursday, Pope Francis’s words on the environment were relatively conciliatory. He sought “dialogue” – a word the pontiff used 12 times. He did not even explicitly mention the word “climate change,” though he did call on Congress to help “avert the most serious effects of the environmental deterioration caused by human activity.” But speaking to the United Nations General Assembly Friday, Francis transformed into an international policy, law, and development wonk – and above all, the spirited author of “Laudato Si” (“Praised Be”), his stirring encyclical on the environment.

IDB aims to double financing for climate change
In the News | Oct 20 2015

The Inter-American Development Bank today announced the goal of doubling the volume of its climate-related financing by 2020. In order to increase investments in adaptation, particularly for countries within the region that are most vulnerable to the impacts of climate change, the Bank also committed to screen all relevant projects for climate risks and resilience starting in 2018.

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