Morocco received approval for a US $25 million loan from the Climate Investment Funds’ Clean Technology Fund (CIF CTF) for a project to generate solar power through an innovative hybrid Concentrated Solar Power (CSP) and Photovoltaic (PV) solution.
Shipping companies are under pressure to phase out use of heavy fuels, as world’s first hybrid battery-powered cruise ship set for launch in 2018.
India is emerging as a front runner in the global fight against climate change, the World Bank has said, noting that the solar power is gradually displacing coal as an energy source in the Asian country.
Around 22% of global CO2 emissions stem from the production of goods that are, ultimately, consumed in a different country. However, traditional inventories do not include emissions associated with imported goods.
The Climate Investment Funds (CIF) awarded Liberia a grant in the amount of US$ 23.25 million to help transform the country’s renewable energy sector. The project aims at developing a 9.8 MW hydropower plant at Gbedin Falls on the Mano River in Nimba County and provide a low-cost, sustainable and reliable source of electricity to Liberia.
Before Maria Rodrigues installed a clean cookstove in her household in Tatumbla, Honduras in 2016, she was skeptical about the benefits it would offer. Having only used traditional cooking methods in the past, Maria imagined that a clean cookstove would require substantial financial resources as well as significant changes to her daily routine. To help Maria overcome this challenge, Fundación Vida, an environmental NGO based in Honduras, provided a subsidy to help reduce the cost of the cookstove by US$37.
The June 2017 Trust Fund Committees of the Climate Investment Funds encouraged learning, knowledge sharing, and the facilitation of exchanges between stakeholders around their shared purpose of climate-smart development.
It was a week packed with rich conversations between country and financier representatives, and the multilateral development bank partners that implement CIF investments around the world.
Ethiopia gave the world Coffea arabica, the species that produces most of the coffee we drink these days. Today, the country is the largest African producer of Arabica coffee. The crop is the backbone of the country's economy – some 15 million Ethiopians depend on it for a living.
IFC, a member of the World Bank Group, today announced a landmark financing package of $55 million to build Mozambique’s first utility scale solar PV plant, which will help increase electricity sector climate resilience and deliver power to rural areas. It includes $19 million from IFC’s own account, $19 million from Climate Investment Funds, and a syndicated loan of up to $17 million.
The UK could be a green business powerhouse in the next three decades, but only if given proper support by government, a group representing more than 30 low-carbon companies has said.